I am the oldest in my family, so yes, my parents do still have plenty of expenses that you don’t have to worry about.
“One can spend money commensurate with their station in life without being a showoff.” True, I’ll give you that. However, there are certain people who would never make an affair to a certain level, regardless of their station in life. I have a friend whose family is wildly wealthy, but they are the simplest people I have ever met. My parents are the type who would not spend their money making a huge simcha even if they were wealthy; it’s just not their style, and not the way they raised me to be.