This guy's plan was to save until the "Day of Reckoning." But there was no follow through plan.
Kinda like the guy who tried to sell me on gold futures. Told me they'd be valuable when the market crashed. When I asked him where I'd pick up my physical gold, he said, "Oh,'no, this is not physical gold." Asked him what was the point then. He said for when the market crashed. He wasn't too happy with the next question.
"So, you have paper that says you own X amount of gold, but no way to actually collect the gold? That's stupid. How do you buy anything then? Better to put your money into bullets and just take what you want from idiots with bits of paper that say they own gold."
He hadn't really thought out the end part.