Reply to Questions for People in Their 50s With Career Success and Family "Success" (success defined as deep satisfaction)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What does high salary mean? Have you paid off your house, have college fully funded, and setup down payment and trusts for your kids and plan to retire at 55?

We both stayed in the $190k Fed job which was interesting work but mostly because it felt too hard to disrupt lifestyle of kids with a job that required one of us to work beyond the 9-5.  Now we will work into our 70s as a result of that choice.

I certainly wished I had doubled down and earned the big money to have real options as I near 60! If you think you family can handle your absence go for it. I will say middle and early high school were the most demanding for after school activities, helping kids with homework or projects, so they really don’t get easier in a lot of ways. [/quote]

You seriously mismanaged your money if youre a fed (pension) and brought home 400K for an even just a decade and still can't retire.[/quote]

3 kids college is projected to be $1.5M

House is $1.2M in middling school district with decent commute.

Helping 3 kids with down payment, $900k

We haven’t always made near $400k, 10 years ago my salary was $90k, and spouse was $130k.

I do think we saved poorly, because we bought our house late because we always planned to return to home, and cash savings make terrible investments.  We have no family safety net, so always worried about someone losing job or getting sick and not working (both our parents lost jobs or dropped out of work force at 50, and it was very difficult time in our upbringing).

We really want to give our kids the safety net we didn’t have when they are starting out, so we will keep working until that is built. [/quote]

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