My elderly mother always always said as I was growing up “ a lot of people waste their money or spend it all as they earn it, with no thought to saving for the future and being able to provide for themselves “
It’s the savers who do Without when they are young to put aside a little $ for when they are older, that loose in the long run.They end up missing out on spending their money when they were younger to be able to fund their own living expenses when they are older. Whilst the others have had the benefit of spending their money when they were young with No thought to their future and then qualify for the age pension. Now the self funded have to pay More for their own aged care to help pay for all of the pensioners aged care. The list goes on ……
