Comment by tomcam

My wife grew up in the Cultural Revolution. I grew up in an unsafe and disordered environment. When I made peak money we spent a lot on awesome experiences, then saved a good chunk. Instead of making payments on a house in the kind of enclave where pro athletes lived, we paid cash in a FAANG neighborhood. Both of us have zero expectations about the future. We have no debt and I retired comfortably but not too lavishly. Our farmhouse is not beautiful but we can afford a good health plan.

We both understood sunk costs from the beginning. We know governments love to take things. Of course we could have saved more. But the people I grew up with are dead or homeless addicts. Many of the people she grew up with were destroyed or disappeared by the government. If catastrophe strikes, and we have to move to a shoebox outside of Cleveland, that’s what we’ll do.

Fatalism has worked out well for us. We are exceptionally fortunate to think congruently on those matters.