I guess they’ll publish anything at market watch nowadays...

[The_Big_H]

https://www.marketwatch.com/story/youre-saving-all-wrong-if-you-die-with-a-pile-of-money-2020-07-28

“You’re saving all wrong if you die with a pile of money
Published: July 28, 2020 at 5:05 p.m. ET
By Bill Perkins

Overly prudent savers are robbing themselves of rich life experiences”

Face punch contender of the month right here.
Cause only a hedge fund manager couldn’t find ways to enjoy life without spending money.

[TheFrenchCat]

He thinks $60k is too much to have at the end of your life?!  I mean the premise that you need to spend money to have meaning in your life is just awful, but I really don't want to be a burden in old age.  Plus, my family has a huge range in how long they lived.  I have no idea how I'd be able to plan to die with zero.

[RetiredAt63]

He thinks $60k is too much to have at the end of your life?!  I mean the premise that you need to spend money to have meaning in your life is just awful, but I really don't want to be a burden in old age.  Plus, my family has a huge range in how long they lived.  I have no idea how I'd be able to plan to die with zero.

I suppose if you put all your assets into annuities that have no survivor benefits it could be accomplished?

[TheGrimSqueaker]

Why do they think it's such a crime to create a money-generating asset that can be passed on to another generation? Is it so terrible to set another person up to be able to explore, say, art or sports or other creative activities without having to put the lion's share of his or her time into earning a living?

[The_Big_H]

Why do they think it's such a crime to create a money-generating asset that can be passed on to another generation? Is it so terrible to set another person up to be able to explore, say, art or sports or other creative activities without having to put the lion's share of his or her time into earning a living?

The Warren buffet way of enough to anything but not enough to do nothing works that way too.

I can sort of understand his perspective from a traditional idea of Retirment.  Save up enough to retire at 65 and maybe enjoy 10-20 years.

Versus FIRE where it’s save enough by 30-45 and have 40-60 years to enjoy your money printing factory.

Also. Is it really “wasted” money if you follow the 4% rule for 25 years you have enjoyed ALL your money you invested and still have all the money you invested.  4% rule for 50 years and you’ve really won because you’ve enjoyed double the money you saved and didn’t have to life a finger to get it

Dying with my money printing factory (after owning it for decades) means I lived truly free and independent for most my adult life. That sounds like LIVING to me (free of want and reporting to a boss)

[Capsu78]

He is just promoting his new book.  It already suffers from a poorly timed release, as I think more people are in a "hunkered down" frame of mind than a "Let's book that trip to Paris" mood!
 
I retired early to be available to travel with my wife when she had an international position.  During one period, I managed to take "passport needed" trips 17 quarters in a row.  At times, we would wonder if that cash should have been shoring up our nest egg, which we were still focused on growing.  Last year, I planned and pulled off 2 across the pond trips with under 3 weeks of planning.
Now, as we end our "5th month" of March,  I side with the author a bit and feel very happy I got my passport stamped as many times as I did the last 15 years as the window on my style of travel has slammed shut...and may not get back to normal for 3 years or longer if the hospitality industry is decimated.  In all likelihood, since my passport expires in 18 months, I may never have a passport again as interesting as my current one.

[ms]

https://www.marketwatch.com/amp/story/im-52-wont-live-past-80-and-have-16-million-i-am-tired-of-both-the-rat-race-and-workplace-politics-should-i-retire-2020-07-31

I saw this one this morning and I was chanting come to the MMM forums instead of just listening to these guys.

[ender]

I mean, the article isn't wrong. In fact for mainstream media it's actually pretty decent.

I suspect most folks here will die with a pile of money that they didn't need.

Really, this quote is important:

What do you actually want? This is a huge question that most people don’t give nearly enough thought to.

Most people here have put considerably more thought into this than most. I told someone the other day, who interestingly had a similar comment as this article does about "spend while you're young!" that I am spending lavishly - just on freedom. With a year worth of cash in the bank and many years worth of retirement savings, I have purchased a considerable amount of FU money power. We could probably not work for 5 years at this point and still have a decent amount of money in the bank.

This is different than purchasing things like vacations or cars (the specific context came up in talking with a friend who leased a bmw, which I'd love to do, but just don't prioritize).

[Alternatepriorities]

https://www.marketwatch.com/story/youre-saving-all-wrong-if-you-die-with-a-pile-of-money-2020-07-28

“You’re saving all wrong if you die with a pile of money
Published: July 28, 2020 at 5:05 p.m. ET
By Bill Perkins

Overly prudent savers are robbing themselves of rich life experiences”

Face punch contender of the month right here.
Cause only a hedge fund manager couldn’t find ways to enjoy life without spending money.

They really will publish anything.

I came to the wall of shame and comedy to share the article where multiple advisors told someone with nearly two million in assets and 60k a year in expenses to keep working and found this thread where they are arguing for the exact opposite.

https://www.marketwatch.com/story/im-52-w
ont-live-past-80-and-have-16-million-i-am-tired-of-both-the-rat-race-and-workplace-politics-should-i-retire-2020-07-31?siteid=yhoof2

[YankeeSaver]

If you are interested in serious financial news and analysis, I'd suggest Seeking Alpha.

MW is just too click-baitish. I do believe that they will publish nearly any story that they think will generate enough clicks. I gave up on them after they ran the article stating that "AR-15 bullets" explode and can't be used for hunting.

[Chris Pascale]

Thanks for the referral! Going to get some articles sent there now. Do you think they'll accept these?

"Exclusive! Money and Stuff"

"How This 1 Year Old Made $40,000 in Her Spare Time"

"Mr. Money Mustache Has No Mustache. What Else Is He Lying about?"

[moof]

The gap in savings to die with "nothing" vs a mountain of wealth is small.  If you just save for an extra year on average you are about 10% better off.  Withdrawal rate drops from 4% to 3.6% (assuming fixed spending between scenarios).  Ending portfolio after 30 year retirement is 1.6x on average for a 4% WR, and goes up 2.0x for a 3.6%.

And I don't know about y'all, but I'd rather have a extra chunk of change available if necessary for my final years to pay for a help staff if I need it rather than go on a few extra "experiences" while working.  Most of my "experience" trips are pretty cheap dollar wise, but a PITA time wise due to work and family/  High on my FIRE list is to get out at least a week a month for hiking, bike touring, camping, and similar trips both with and without family.  Work is a bigger impediment than spare funds.  I have little use to flying off to far flung resorts or taking a cruise.