Note that in OSR-style games all that gold serves a function as the adventurers gain level and start entering domain-level play. The trajectory is something like:
*1st level: "We're broke and can't even afford decent armor."
*2-4th level: "We've got more money than we know what to do with!"
*5th level+: "We're broke and can't afford to hire that second company of mercenaries"
At 4th level and higher the party should begin to venture out into the wider world, exploring more of the wilderness instead of just dungeons, and will begin to spend more and more money. Retainers and hirelings are expensive, but needed if you're traveling through the wilderness (note how the encounter sizes jump from dungeon to wilderness), they'll begin to spend money on stuff like houses, boats, commissioning magical items, etc., and eventually will start spending serious cash when they enter the domain phase of play.