Quote:
Originally Posted by davem4616
Wow, you are still willing to do without so that your adult kids will have an inheritance???
I invite you to move on to the next phase of life...live your life...your job raising the kids is over
We put all 5 through college on our dime, bought them cars, paid for the weddings, helped them get on their own feet....job done! Actually made a new house rule that kids are welcome for dinner anytime, but only grandchildren can sleep over...they laughed, but didn't push back
Our 5 know that IF there is anything left after we've enjoyed having the best possible time of our lives anything remaining is theirs...but they'd rather listen to the stories we tell them about our adventures
now, new vs. preowned in TV
Many of the 'pre-owned' homes are in great shape, however many will require substantial $$$ to renovate. Having contracted for renovations in FL and in the northeast I will say that there is no comparison...things are really different in FL (and not always in a good way so be very careful choosing a contractor in FL)
If you go new you're also going to spend money...we went new designer home and have spent 50K in upgrades with local contractors over the past 3 years
We had a small mortgage when we 1st bought here....once we no longer were itemizing our taxes we just paid it off...okay so cash reserves went down, however monthly expenses also went down
Nobody can predict the future with accuracy, however in the past home prices in TV seem to be insulated to an extend from what was going on everywhere else
Good luck...you've got some serious decisions to make...I hope it all works out for you
|
Davem, I commend you. This is off the topic of the initial post but bears mentioning. I see many folks that have more money to live on and play with than others do, so they can think about what they leave their children- it’s not hurting their lifestyles now. Some aren’t in that position. My child is doing better financially than we ever did. Material things and brand names have never been important to my daughter (and her husband), which will ultimately help them when they’re in the stage of life that we’re now in. On the other hand, I see how frugal some people live down here: dinner twofers with quantity rather than quality, picking through the racks of discount retail clothing stores and settling for things they may never have chosen at full retail or even on sale; cocktails are too expensive to order when dining out... they eat wherever they have a coupon for, etc., with more money in the bank or invested to leave the children.
I see my adult child and her husband investing in their future independently. Yet I’ve also known young couples who are relying on their future inheritances to make a large purchase or pay off their own kids’ college loans, for example. If we’ve raised them to be, and they have become responsible adults by now, it’s time to for us live life to its fullest- maybe even be frivolous by allowing ourselves some “wants” rather than needs. We’ve earned it.
IMO, doing without or with less, and living very frugally in order to leave our kids with an inheritance has become antiquated. Just saying...and not selfishly... if you can enjoy the remaining years of life with extra available bucks now, rest assured that our children will make it with or without us. If your kids have been spoiled all their lives, given the best of everything, (buying your 14:year old a Louis Vuitton purse?? ), you’ve done them a disservice from the start...no turning back now! At a time that we should be living, living, living, some are still saving, saving saving... for the kids.