I think low time preference people understand that you don't 'only live once'. And thus are not 'YOLO' hedonists.

The concept of having a 'golden retirement' and, going further, 'spending the kid's inheritance' is a consumerist con. The sort of retirement that's so often portrayed in (advertising) media is actually a descent into a sterile, empty life, e.g. lounging by the pool, playing golf, going on cruises, etc.

There's a concept, I think from eastern religious traditions, of dividing your life into thirds. The first third is growing up, learning about the world. The middle third is about being in the world, working, building, having a family, etc. But the last third is, generally speaking, the 'spiritual' third. It's somewhat of a retreat from the secular world and the focus moves towards spiritual growth. We're here in this life to grow, to purify or cleanse our souls (or however you want to put it, according to your own beliefs). The final third of our life is for ppl who have trodden 'the middle way' or who have led the householder life (Buddhist terminology) to finally move more of their focus on to growing spiritually, ahead of their coming ego death.