Surely there's a time to call it a day?

Zanderman

whatstheplan said:

Thanks for the replies.  I suppose what I was driving at is when is enough enough.  As I say, I don't know the circumstances of those featured, however 'if' the 83 year old woman was already comfortably off, what's really to be gained by giving someone (reputable or otherwise) £1000 for a year to gain £50?

As others have said, it's really up to that person. And you're not that person.

What's really to be gained? Some extra money for her estate when she dies is the one very obvious thing.  Her pensions will die with her, so if she can generate money for her heirs through savings/investing then why on earth not try? 

Or for just some extra cash to hand out to the grandchildren.  Or give to charity.  Beyond what she can normally afford.  Why would she not?

Also no-one, not even a 'comfortably off' 83 year old, can anticipate what's round the corner.  She might yet live another 20 years.  If she needs expensive medical treatment or care that would be better quality if she paid herself, then the more money she has the better.  Why doom herself to cheap care when she could have better?

Why does anyone 'comfortably off' invest?  It's for the future.  Their future and their family's future.

It's ridiculously simplistic to assume an 83 year old shouldn't be saving or investing just because they are 83.

Eco_Miser

whatstheplan said:

Thanks for the replies.  I suppose what I was driving at is when is enough enough.  As I say, I don't know the circumstances of those featured, however 'if' the 83 year old woman was already comfortably off, what's really to be gained by giving someone (reputable or otherwise) £1000 for a year to gain £50?

£50.

There's plenty of people right here on this forum who have given Virgin Money £1000 in the expectation of receiving £20 a year.

It's called keeping ahead of inflation.

I have, perhaps, 'got enough'. But that's conditional on at least keeping pace with inflation over the next 30 years, and one of my pensions won't do that so my investments and savings have to do better than inflation.  Currently inflation is low, but I remember the '70s...