Reality Check About Retiring Investment and Flaunt

To Flaunt or not to Flaunt?

Retirement mansions are often impractical for those living abroad, as many end up being enjoyed by caretakers rather than the actual owners. Typically, someone will build a beautiful home back in their native country, only to have a caretaker live in and maintain it while the owner remains overseas, visiting briefly each year. 

Ironically, the caretaker enjoys the house while it's fresh and new, while the owner might only return 10 or 15 years later to a property that has lost its original appeal. 

Many people are led to believe they should build a large home back home, even if they rarely live there. This often leads to waste, especially when these homes are unnecessarily large, like a 9-bedroom house for a family of four. It's akin to buying 10 doughnuts, eating only 3, and throwing the rest away simply because you can.

I know someone who has been building a 12-bedroom house in his village for nine years. Meanwhile, he rents a small room in the U.S., dreaming of returning home one day. The house’s design is now outdated, and he’s at least five years from completion. 

In another case, a 43-year-old man in the U.S. died of a heart attack. He was renting a small room, working long hours, and funneling his money into a 9-bedroom house back home. The house remained unfinished, and after his death, his family sold it because they couldn't maintain it. 

Many abroad build these houses to create a false image or to show off, neglecting to live in the present. They imagine they’ll enjoy these mansions in their old age, but by then, it’s often too late. At 65 or older, frailty sets in, and no one cares about the image you project. What use is a 12-bedroom house when you can barely manage the stairs?

In contrast, Westerners tend to downsize as they age. Yet, many of us live frugally while young and energetic, only to splurge on grand homes in our later years when it’s no longer practical. Planning for the future is essential, but we must do so with balance, recognizing that the present is all we truly have. The future is uncertain, so don’t sacrifice today for the mere hope of tomorrow. Live meaningfully now, while still preparing for what may come.