Inspir.es

Get Rich Slowly is a blog about personal finance. They often have great advice about investing, saving, etc. I read one post a few days ago, however, and what might sound like standard financial advice actually struck a wrong chord with me. An excerpt:

“‘I’ve lived in the same house for 28 years,’ I say to my friends. ‘My house is paid for. Is yours? My car is paid for. Is yours? I could retire today. Could you?’ I don’t have a boat, I don’t have an RV, and I don’t have fancy clothes,’” Ray said, indicating his modest attire. “I save my money. I invest it. That’s the way to wealth.”

Sounds like pretty standard mom & pop advice, right?

Well, I disagree. Tell me, what’s so great about having money in the bank? What is Ray ultimately going to do with his money?

If he’s waiting for retirement, why wait? Retire now, move to Argentina, travel the world, spend time with your wife or family.

If he doesn’t want to spend it at all, then why wait to give it away until you die? Start giving to worthy causes now.

I understand railing against spending money you don’t have on things - stuff, stuff that just accumulates and bogs you down, stuff that stifles rather than improves your life - but why hoard money?

Some might suggest security - they need thousands of dollars in the bank to feel secure, to prepare for the worst. If this is the issue, then go to your local insurance agent. Grab enough life insurance, enough health insurance, enough whatever insurance so that if the worst does come - you’ll come out ahead.

The expression commonly used about those who seem greedy is “you can’t take it with you.” Well, you can’t take your pension funds, your 401k’s, your savings accounts or even your patriot bonds with you.

My Grandpa often complains that he has money he will never spend. He’s too old, he says. He’s going to give it to the grandchildren when his time comes. When that day comes, I most certainly won’t need the money. Nor do any of my fellow grandchildren. We’re all doing fine and are successful without an inheritance.

I would gladly give up my inheritance, heck, I would pay out of my own pocket, to see my Grandpa take my Grandma across the world and back.

Just like the greedy need to evaluate why they are working for what they’re working for, so too do the financial conservatives.

You can’t take it with you.