At his age … At my age … if you have no debts — money has little value just sitting around earning interest or whatever.
Throwing a soiree and making a lot of peeps happy as can be is rewarding and warmly satisfying.
Look at it this way:
Life should NOT be a journey to the grave with every intention of arriving safely in an attractive well-preserved body; but rather to skid in sideways, champagne in one hand and chocolate-dipped strawberries in the other; body thoroughly used up, totally worn out; screaming "Woo Hoo - What a Ride" !