I have two daughters ages 39yo and 49yo. Me and the missus sat down with them last Sunday and had a very productive meeting for two hours sharing with them our estate documents ( will ,advance directives, durable and health care POAs ) and a detailed picture of our financial situation ( IRAs and taxable portfolios ).
Their reaction was that they had no idea how rich we are, and I had to emphasize that it may seem like a lot, but 15 years from it will not seem like a lot. I told them that it was imperative that they continue to fund their Roth IRAs if they want to enjoy the same standard of living in retirement that we enjoy.
I funded my traditional IRA at 29yo and my Roth IRA the first day it became available. At the time, my mortgage payment ate up 45% of my net income. We lived without cell phone and internet costs, we had no idea what work-life balance meant, we did not take expensive vacations, and we rarely spent money eating out. No $5 lattes for us. We drank Mr. Coffee and we liked it !
Count me as a grumpy old man