Reply to Am I crazy to worry? Is my hope that expenses drop when the kids hit school a pipedream?

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Reply to "Am I crazy to worry? Is my hope that expenses drop when the kids hit school a pipedream?"

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[quote=Anonymous][quote=Anonymous]What is it exactly that you're worried about?  You're saving a LOT of money, and your expense sound reasonable for your income level. Is it retirement? College? More debt somewhere?[/quote]

No other debts. School loans are gone thankfully.

It's both retirement and college I guess. We did 26,000 per kid at birth in 529 plans to kick them off, but if you believe projections by the time they hit college I'll need 100,000 a year PER kid. I find it hard to imagine that's sustainable - the ROI would be negative for almost any job - but who knows. I'm not opposed to the kids taking on a little debt (in fact I'd argue they should) but I don't want to saddle them with hundreds for some run of the mill bachelors.

Id also like to be able to leave my kids something when I go - something more than an empty house they get to sell at some estate sale... Ideally, I'd like to be alive to see the benefits of my savings put to good use. Maybe a downpayment on their first home, or a trip around the world (something I'd kill to do), etc. I'm not talking about buying my kids a BMW at 16 ( I shake my head at parents that somehow think that's reasonable)... just would love to put my money to good use to afford them education, travel/a few life experiences and a little help here or there.

As for retirement, that's equally worrisome to me. Even if I hit my rather lofty goal of 100k a year, it still feels short. I won't have a pension, have zero belief that social security will be there for my retirement, etc. I guess I just want to be able to retire and enjoy life. I want to be able to travel, go to dinner on a whim (instead of worrying about the cost) and just watch sunsets in peace with my wife. I don't know what that means I need - $2 mill? $5m?

Basically, I want my kids to have something and I want something for retirement. Achieving both feels daunting. 
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