I don’t want to die broke; I’d like something to leave my kids. They are worth it.
That said, I think you are spot on about the inability to enjoy the bulk of your largesse in your latter years. I envision living sort of small when I am up in my 80s. I’d like a small apartment that requires little cleaning, no yard work, and I doubt I’ll travel. I won’t want to drive so I’d try to get stuff delivered once a week, or maybe have a child or two take me on well organized errands.
If I live that long.
I’ve known many by this point who lived quite healthy lives but got cancer, had heart trouble, or were in an accident anyway.
I think I’d like to spend the best part of my money when I am young enough (50s and 60s?) to travel and see well and drive and so forth, but old enough that my minor children are grown and stable.
Even my calorie needs are lower when I’m older, you know? And I have notice that a lot of good food like rich food and good steaks just aren’t sought after by the time you are 80.
So I’d advocate a middle ground, certainly keep up health insurance and long term care insurance and have savings, but don’t like like a miser and then get cancer at 55 like friends of mine have and never got to enjoy a dime of it.
Don't agree with that at all. If you feel you need to leave your kids your hard-earned money, you likely did not do your job as a parent - which is to raise your kids to be self-sufficient and not parasites on society.
Nothing is more pathetic than to see middle-aged adults sitting around waiting for their elderly parents to kick off so that they can grab their "inheritance" and buy that new sports car or pay off those credit card bills (so they can run them right back up again). I've seen it happen too many times.
I also do not agree with the premise of the article which is to live like a pauper in your prime years so that you can vacation in Florida and play golf when your 75. Screw that, I'll eat steak today (while I still have my teeth) and if I am destined to eat mac and cheese and drive around in a beater of a car, I'll do it when I'm too old to care.
Lastly, can we please get off the whole "retirement" kick? I have absolutely no idea why so many people look forward to retirement and see it as their lifetime dream. Retirement is something to do when you are preparing to die. In the meantime, work as long as you can and contribute to society as long as you can. As you do so, live a little. Take the wife out to dinner on a regular basis, go on vacations while you are still young enough to enjoy them, drive that new car with the bells and whistles today - not when you're 75 and your kids are trying to get your license taken away because you drove up on the curb and ran over the mailbox one too many times while taking your weekly trip to CVS to fill your prescription medicines.
That is key to a long and rewarding life.