Today, I was talking to a friend whose mother is in the process of depleting her bank account by giving money to her children until her balance reaches about $6,000. She doesn’t have much, roughly $25,000, but at 85, she feels there’s little for her to spend it on and prefers that her children have the money rather than it sitting idle in the bank.
Subsequently, I watched a YouTube video by a Norwegian individual discussing the importance of slowing down and not fretting over amassing wealth, as most truly enjoyable things in life are free.
It’s common advice to accumulate substantial savings for retirement, yet often, we end up not spending it all, perpetually saving for a rainy day or to leave for our children after we are gone.