[quote=dumbrenter]what use is all the money saved in youthful years to spend in your old age when your bones are weak, you cannot get any action due to biological limitations and you wet yourself every few hours?
This whole thing seems inverted. Shouldn’t we be taking on as much debt and focus on spending that in our youthful years and then work hard in old age to pay for it?
A vacation to Cabo in your 30’s is much more fun than going there in your 70’s.[/quote]
Theoretically, one could certainly make this argument. The problem is that you need money in order to survive in old age. Young people tend to over-consume and take on so much debt in their younger years that they are unable to pay it off and/or have too much of a debt load to enjoy life in the long run. Many are already so strapped by the time they are in their mid-late 20s that they are unable to ever save enough for retirement because they have such a high debt service burden.
Where consumption is concerned, it’s best to set aside money in advance so you can spend it once you’ve saved enough for a particular goal. That way, you can earn interest instead of paying interest to another creditor. Better to be a creditor than a debtor, IMO.
