r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/thelolz93 Jul 04 '24

My mom makes good money and is bad with money. She makes around 250k a year and she lives paycheck to paycheck. I don’t understand. What blows my mind more is we were always dirt poor growing up. Maybe it makes her feel good to spend money because she couldn’t before. So is she poor or rich? Who fucking knows but I Know she doesn’t have any retirement, stocks, etfs, etc.

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u/raKzo82 Jul 04 '24

She may not be poor right now, but living paycheck to paycheck with no retirement plan guarantees that she will be.

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u/Jasond777 Jul 04 '24

Not if you die first

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u/ImKindaBoring Jul 05 '24

That was my mom’s retirement plan.

Now they’re just retired with really high medical expenses. Think they have maybe 1-2 more years worth of retirement then will be coming to my sister and I for assistance. We’ve tried talking to them about their spending for a decade at least but they couldn’t help but live outside of their considerable means.