Topic: Irresponsible spenders consumes their retirement resources and losses values. - page 2. (Read 857 times)

Yes I agree with that, indeed we are fully responsible for the finances we have. We must be able to manage our finances as well as possible because we who have income and we who have full control of the income we have. If we cannot manage finances well, what will happen is only difficult. Actually it doesn't matter if we spend the money we make, it's just that we need to have a limit, because it is not possible if the money we have is spent only for shopping while other things that are more important are not considered as basic needs and also pay this bill That.

Indeed, it often happens about borrowing money whether it's from the bank or friend's own, but borrowing money from a friend is not easy, because in my opinion the name of money is sensitive, even let alone with other people, in my opinion with your own relatives usually when the money problem sensitive.

Ignoring one's wife and having an expensive dinner with someone else instead sounds like a sign of a problematic relationship to me. I also agree that it's better to have at least some savings if a person can afford them.
As for retirement, though, I've recently watched a video on the US retirement system, and how it's bad that people are allowed to take money out of their retirement funds when they feel like they need to, and how it's impossible in many countries. I think retirement savings should be organized in a way that a person's making those savings (and investments) just by virtue of working, and that money can't be taken out of the fund (unless there's a true emergency and/or a terminal disease, perhaps).

at the end of the day there are people that live with the ideal of you only live once and justify their behaviour of overspending I think these honestly are also justified as long as they know that such luxurious spending also comes with consequence if they doesn't have any fixed income that is high in rates as well.

though speaking of people there are some old people that just want to enjor their well saved money in their retirement age, its completely justified as well, after all, a money that doesn't get spent, in the lifetime of the money owner, is a wasted money i presume, therefore never judge too early.
there are people that have opinion that we don't know whether we still gonna live until 70++ year so they just make the best of what they have right now to make themselves happy.

Let that guy enjoy his life, man . You never know what he has been through or how he is earning his money. Maybe he has retired already and has people working for him who earn money for him to spend and live a luxurious life because there are a lot of businessmen in the world who can live such lives forever because they have everything they need in life including sources of income that keeps earning money for them.

We should only blame someone for spending money this way if we know they don't have anything planned for their future and they are not using the money to build businesses and assets but instead they are spending all their money on partying and enjoying themselves with friends every day.

We should be able to manage our own expenses and income, because we are responsible for all the money we have. adjust income to what we need and want, don't let us have income but sometimes we experience difficulties such as when payday arrives, and after a few days after we receive our salary we are surprised by the money that is almost gone. In fact, this often happens, including with a friend of mine who experienced something like this, because when he received his salary he immediately spent it as he pleased without thinking about the costs of surviving in the future.

and with that, he borrowed money, but not from the bank, but from his fellow workers. With this, I think it is very important for us to be able to manage our finances, including our expenses and income. Don't let us borrow money just to fulfill a temporary desire for style. as you said, by borrowing money to buy a car, in my opinion that is too much pressure.

I think it's best to keep balance between your spending and savings. This is also right that YOLO, so enjoy your life as much as you can but within your financial limits. There are people who take loans from banks or other people to do stuff like buying new car or go out for vacations. Such people are losers in the long run. We have to understand that there will be a point in life when we need money i.e. when we grow old and don't have energy to earn money. That's the time when your savings will be there to help you out. 

You are on point to the reality of this part of life slapper.
Some people actually struggles in life at a moment just to satisfy the now and if they are lucky to hit the jackpot they feels relaxed and contented with what has got to o their pockets and how they feels in how to utilize their funds is basically spending on the pools of pleasures and acquiring liability items.

They may actually feel that the firm and the lottery will always be favorable to them at anytime time they needed the funds as if they got some personal money loaded and got saved in their.

How strange it feels like they are financial consumers  whom had run psycho believing they got inexhaustible funds in an ATM while spending lavishly without a thought of the future ever possible to meet their retirement when they can not strive to put things to generate finance in place any longer.


And when they runs out of funds to the south ways after reckless spendings, the bills and debts piles up, all those winning and dinning with you scammers and you would be left on no one to hold responsible because you were not reasonable during when. You were on funds.

You are right that regret alone is not enough, because this will never change anything and return the money we have spent. No matter how much income we earn each month, if we don't have good financial management then the money will be wasted on things that are less important and useful. I remember very well there was an incident where there was a village where the majority of the people's income came from farming, but because the land was going to be used as mining land, the people flocked to sell their land, because the mining company was offering high prices that they had never imagined before. They sold their land in droves and suddenly became billionaires, and suddenly almost every house had a luxury car parked. However, because of poor financial management, a few years later they returned to poverty because they lost their livelihood, and they were no longer able to pay the tax on the car they bought. It's a crazy bun, but it's totally real.


Yes, many people behave like that, but it is no worse than someone living in poverty, having a low income. But forcing yourself to look luxurious to look cool and appear established to other people.

I think there is no harm even after he rejected all the calls and concerns. He just wants to enjoy his life and he has all the rights to do so. After having so much in life he has earned some cents so why should he worry while spending it? He has all the right to spend as he wants.

Now comes the case with his wife and children. They have a right but only up to the necessities of life. After that if he gives them luxuries that's a plus point and if he don't thats ok. Giving proper education and resources is just what he should look for. Rest he should enjoy his life. Don't complicate please life is too short to always plan and worry about.

I agree that there are also irresponsible spenders like the OP is talking about in our society . But I don't agree with OP being so quick to judge someone when he just happened to meet them at a restaurant . How does OP know if the other person is a waste or a worthless person ? I also don't rule out the possibility that he has been working hard for a long time and what he did was just want to take some time to enjoy life after a series of hard days .

@OP , it's funny how we always think we're good people when we try to save money, don't spend wastefully , and quickly underestimate others just because we see them wasting money .

Well that's true, there are a few people who really have that mindset in life, They always say the word YOLO means You only live once, so you need to enjoy what you have now because we are not sure what awaits us in the future. Those words commonly come from people who have the means in life, They are the ones who grew up with generational wealth and don't experience struggles in life and I think that's fine as long as they didn't harm others life. Let them do the things they want, afterall it's their own business, maybe it's better to focus in our own businesses too because we have different states in life. Not all people are like us and if we think they have a wrong mindset, they will eventually realize it.

I think that's absolutely what many people feel, because when they have quite a lot of money they don't think about how important that money is, they just follow their desires to buy this and that without hesitation and without thinking, and when their money runs out they just realize why can their money run out, where does all the money they have go, but it will only be a regret, but even if we regret it it won't change the situation, therefore this is the importance of money management, we must be able to manage money when we have money That's quite a lot, don't think about it because we have a lot of money, we can buy whatever we want without thinking about the future.

taking out a loan can happen, because in my opinion when we have enough money there is a possibility that our lifestyle will change, whether it becomes a little luxurious or very luxurious, our tastes will also increase, and when the money we have runs out it can no longer meet our high tastes. and here there is the possibility of being able to take out a loan. Taking out a loan is not completely bad, but we have to be able to see what is being done, what is the purpose of borrowing money? If it's just to suit your style and taste, in my opinion that's wrong.

Many people are reckless when it comes to finance and spending because of the wrong mind set that we have to enjoy while you are alive so some will be working with good salary but nothing to show for it and after they retire they begin to blame it on friends and associates of forgetting them

  I feel like most workers who fail to meet up to their retirement goal  just fail to plan during their time at work, they are easily carried away by the things of the present, some of them easily forget that they is something called the future. They prefer to live in the moment, forgetting that they live with budgeted funds. Those who are not fortunate to be born into wealth should be more disciplined when handling wealth. Because mismanagement of funds prune to happen to overzealous individuals.  It is advisable to save 30% of your monthly income, workers should cultivate the habit of saving because this is their pass card to early retirement. You will seldom have unlimited access to wages or overtime. Having savings limits your need to borrow to cover unexpected expenses.       
   Additionally few people budget correctly to include the annual or semiannual bills like property taxes and insurance and vehicle registrations. Having a financial cushion gives you peace of mind and allows you freedom to make better choices with less emotion. The main goal should be to work as a hedge for events which need immediate funds to be able to maintain your fixed as well as unplanned but a must-have/do expenses. A person wants to avoid asking friends relatives etc. for short or long term funding when getting laid off someone facing unexpected high repair bill hospital/medical care bill— for such events folks need to provide set aside reserve/savings.

I am with you on this perspective. We can't judge the person's actions by just what we are seeing, we don't know his intentions, motives or life in general. We can't conclude about what should be done in his life because we have no idea what he's going thru. We are just merely speculating on someone else's life. Much better to do is take care of our own business and as much as possible improve our life in our own way.

This is why it is not good hearing some rumors because we don't know the validity of the information. In most instances, people are just speculating on what they have seen, creating a different persona for that individual. Some people can fabricate a bad image even if such individual is just merely enjoying the moment.

We will only find out how valuable the money we earn is when our finances run low, where this situation forces us to live more frugally. But this is better than someone who squanders money and spends money like crazy without thinking about what will happen in the future, and when his finances start to run low, instead of realizing his bad behavior, he instead makes quite dangerous decisions and can be detrimental. have fatal consequences. which can have a bad impact on his financial situation, namely by taking out loans, which behavior will only cause serious financial problems. It's a stupid thing, but many people behave like that, making a decision carelessly without considering what the future consequences will be.


When you are between the ages of 22 and 62, there are two types of choices that can be made and lived out: saving and spending money. Life situations change unexpectedly, and at one moment a person may have saved a lot of money and feel financially stable, while at another moment they could be overwhelmed by huge debts. This is an indication that life contains many risks and challenges that one should be prepared to face with wisdom in handling financial matters whenever they change.

Maybe I would say that they are people who are not grateful for the life situation they have, if only they were born normal and if for example they could see how the fate of people who are far below them who are even born with disabilities or who have other limitations which affect and make it difficult for them in terms of making money and doing other activities in life then I think they will definitely feel that their mindset which always leads to satisfaction is the wrong mindset.

Being grateful and having a correct understanding of the value of money is the recommended personality and mindset, and on the other hand I am sure that they are typical people who cannot think long or mean not thinking about other interests in the future so that when they have money they instead allocate the money to other things that are actually only to fulfill their satisfaction and not their needs, so this is the importance of good management and perspective on something as valuable as money.

I believe that life is not ones and zeros, while we could agree that there are radical level people who do either side completely, I believe that 99.99% of the world does it both. Sometimes we save amazingly, sometimes we spend like crazy, sometimes we make small mistakes that end up being bad, sometimes we save money just a bit.

There isn't just saving or spending, those are not like two options that you pick at 22 years old and live accordingly until 62. Technically speaking I have saved a lot of money back in the day, as in literally bought myself a brand new car, that was a perfect year for me and I made so much money and saved, but also right now I am in big debt as well, it is the same person, sometimes situations change.

I wouldn't jump to conclusions based on limited observations. We never know what another person's life story is. That guy enjoys his expensive purchases be it celebrating a milestone, rewarding himself after a rough patch, or simply treating himself because he deserves it. there.

Appearances can be deceiving. Maybe he was just having a rough day and needed a pick me up. Without context, it is impossible to accurately assess his situation.

Life is about different perspectives, and perhaps his living it to the fullest is right. We all have a chance here, and finding ways to enjoy the journey is important. Even something as small as lottery tickets can be a source of harmless entertainment for some people.

I will agree with you to some extent, especially with the last paragraph: people who waste their resources at their youthful ages end up regretting it at old age. And for one not to be among this set of people, we have to spend wisely by making a lot of investments that have long-term targets. 
 
Now let's have a rational thinking about the scenario that you explained, about the fact that a man was saying that life is one and we must have to enjoy it. I tend to think of his action as a result of either being too broke for a long time or lack of investment knowledge, or he lacks the ability to manage wealth, but the fact that one has suffered a lot of financial instability does not guarantee him to spend recklessly, but when it comes to having fun at some point, we really need such enjoyment. There is a popular saying in my place that says, If you work, you will chop. Which means at the end of every work there is a reward, and the reward is that people spend time at parties, and for that, I have seen them go back and arrange their lives's well. But for some, they don't calculate their spending. 
 
But at the end, it all boils down to the same thing: we all should be very careful with how we spend in order not to go broke. So for you, OP, I say you shouldn't judge yet, but try to find out if yes or no that the person in question is actually a reckless spender before drawing a drawing a conclusion.