Re:The Bear Market Has Nearly Been Erased, Fewer Than 20 Mon...
by throwaway5959 on Sunday July 23, 2023 @02:08PM
(#36837993)
It’s weird that not spending every dime you make is being characterized as hoarding. My wife and I spend to our level of wants and needs and invest the rest. We’re not hoarding, we’re planning.
Re:The Bear Market Has Nearly Been Erased, Fewer Than 20 Mon...
by jjav on Sunday July 23, 2023 @03:51PM
(#36839077)
> It’s weird that not spending every dime you make is being characterized as hoarding.
That's not at all what I meant. Maybe hoarding is the wrong word, couldn't think of another one. Saving is great, but what is the amount one needs to save?
What is your target amount in investments to be able to retire?
What I mean is that in the US there is a neverending pressure to save more and more because you never know what might happen and there is no social safety net so it's all on you. So you must keep working and saving to cover every conceivable future edge case, so it feels like no amount will ever be enough.
A problem in the US is that the system essentially forces people to hoard more and more and more because there is no useful social safety net. So you are forced to constantly think what if. What if I live longer than average? What if there are unexpected expenses? So the only responsible answer is keep working and hoarding for those what ifs. It's not a healthy system since it encourages the hoarding but also because it prevents people from enjoying a longer retirement.