To Save Or Not To Save?

Had company this morning at my regular coffee bar. An acquaintance I had known for at least 7- 8 years but never got to become friends, not really, He just joined me at my table without my answering his question: "May I?". We never seek each other out, but when we occasional meet up if and when we both feel like it, the conversation is always pleasant and enjoyable. But this morning he seemed to be in the mood of complaining, theorizing and philosophising more than chatting. I guess he just needed someone to listen.

He told me about his parents, who had no pension plans but had all their life been saving hard, doing without a lot of things, so as to accumulate some funds to safeguard a more comfortable old age, had just found out that their sacrifice in their younger days and all their effort to plan their future had come to nothing. They were turned down when applied for one of those state run old folks residence, much cheaper than the private ones; the kind where the old people can have their own individual apartments, but share community service areas like dining rooms, library, coffee bars, gym, etc. and staff to attend to emergencies. The reason being that they have savings. Until that is all gone, they are not eligible.

That was not what they had planned. The money they saved was supposed to provide them with an easy and comfy living in their old age, like occasional meals in restaurants, holidays, some small luxuries they had never had when young ... not to use now to pay for basic living and old folks home rent. Why else would they have made all the sacrifices?

The old couple, including my friend who had started some years ago to save like their parents, wonder why people bother to save at all, and why make future plans. They could have had a less fugal life spending every cent they earned, having a great time along the way when they were young and fit, then apply and be given priority to get the residence now that they are old and penniless. No matter; the government will see that they are roofed and fed.

It makes you ponder doesn't it? Should we all subscribe to the policy of: Champagne today, Soup Kitchen tomorrow?

Tags:oldage,sacrifice

Current Mood: Anxious