The baby boomer generation is often celebrated as one of the most impactful in history, but as they age, many are facing the reality of their diminishing time to savor life. With retirement now a common stage for many, some are choosing to fully embrace their remaining years.
One such couple from Australia, Leanne and Leon Ryland, have chosen to make the most of their time by traveling extensively and spending their savings rather than passing it down to their son. Their approach reflects a broader trend among some baby boomers who are opting to enjoy their wealth themselves rather than leave it for future generations.
Leanne and Leon, who have been successful in accumulating wealth, decided to prioritize their adventures over saving for inheritance. Leanne explained their decision, saying, “We’ve done everything right with our investments and savings, but now we’re choosing to spend rather than save.”
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Their philosophy is based on the advice they received about retirement spending. They believe that the first decade of retirement is the prime time to enjoy significant expenses like travel, after which spending naturally slows down. This shift in mindset has led them to spend over $114,000 on trips to destinations like Sri Lanka, India, and Peru. They even created a Facebook group named ‘SKIclub,’ where ‘SKI’ stands for ‘Spending Kids’ Inheritance.’
Leanne reflected on their choices, noting that they won’t have the energy for such adventures in the future, saying, “We’re not going to be able to climb the Great Wall of China or visit Machu Picchu in another decade.”
The couple’s decision has sparked a range of reactions online, with some people expressing frustration at their choice to forgo leaving an inheritance. This has led to broader discussions about the role of generational wealth and the values surrounding inheritance.
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