Quote:
Originally Posted by collie1228
I'm concerned that neither of my kids will be able to afford the great retirement I've had, and I've planned for them to inherit enough to get them to a point where they might just be able to retire in comfort. They both have retirement savings, but are far behind where I was at their ages. Hopefully they will listen to the "free advice" that I've given them about how to handle the money, which is to pay off all non-mortgage debt, then to conservatively invest it all of it in low cost index funds and inexpensive bond funds. It worked for me, and hopefully it will work for them too.
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I agree with collie1228. I close on my new house in The Villages in a few weeks, and the only reason I can afford it is because my job came with a great retirement plan in mutual funds that kept on growing. I can live on Social Security and 4% of my retirement funds a year and pay for life in TV for decades. My kids have good educations and are great people, but their jobs don’t come with retirement plans, and they don’t pay very well. I’ll be splitting my funds between them when I go, leaving them each a similar retirement plan, not so they will be rich, but so that they can retire on about as much as they had before they retired. That lets me sleep better, without worrying about their future.