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Why should you save more than you need? What good does it do?
by stupidhn 9y ago
Why should you save more than you need? What good does it do?
- Artlav 9y agoWhy are buildings built with 3 times the structural integrity than they need? Why are wires several times thicker than they need to carry the power the house needs? Why are hammers much harder than nails? It's called redundancy - you can never predict exactly what the needs would be, so you leave a healthy safety margin.
- stupidhn 9y agoOverdoing any of each of your examples is a waste of resources, just like dying with a pile of cash.
- pkaye 9y agoNobody can predict far ahead so there is no correct amount to save. I thought I was saving at a good rate but recently came with a chronic healthy issue that may make it difficult to work for a long time. In hindsight I should have saved more aggressively.
- kevin_thibedeau 9y agoYou can engineer wiring to be the right size for the 99% use case. You can't do that with savings.
- stupidhn 9y ago>You can engineer wiring to be the right size for the 99% use case. You can't do that with savings. This is not remotely correct.
- justin66 9y agoCash doesn't evaporate into the air when you die.
- zanny 9y agoAsk the question of why every person who has a net worth over 10 million dollars has that much money, and why they need any more. Once you are 10s of millions-aire you aren't seeking money for survival or even happiness. You are also probably well beyond money for the sake of security - you could probably lose 90% of your fortune at that point and live comfortably. Why do these people keep seeking and amassing more money then, with limited exception? Its the same reason why anyone who could, would.