While most of us thinks that there are only addicted gamblers who are reckless spenders, I want to let us know too that there are other reckless spenders who are even Irresponsible to their responsibilities and bringing about devalues to their influential personalities.
If at the time of retirement, he could not manage his pension funds properly then that was also what he had done before retirement, spending his salary for pleasure or exceeding his ability so that it is in debt, my intention is that today you cannot be responsible for your income then that is also actually happened in the past and what will happen in the future, so people will not be able to suddenly be responsible for their income all need a process.
I am not sure of my instincts towards this man but with experiences from people of such nature, they are ones who lavishes their money on pleasures and does not have plans for their futures, they ends up regreting after much expenses when they runs out of funds.
Maybe you are wrong to judge the situation that is happening near you, because that is also what often happens we judge someone only from one event and think he is someone like that. Actually it is not wrong when someone wants to enjoy life by buying luxury goods or eating expensive food or a little spree as long as it is not done so on, because sometimes when you buy luxury items that you have been after for a long time can provide better motivation to find income or for those who have retired can feel happier what is important not by debt.