Reply to Should I stop daydreaming about retiring at 55?

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[quote=Anonymous][quote=Anonymous]Do you imagine that you will be done with kid related expenses when your kid is 20?

You can plan for it, but we are there and probably have the money to do it, but the idea of retiring now with kids this age (17-22) is laughable to us.[/quote]

The key is one kid. You have multiple kids aged 17-22. Too many things can go wrong. You've got to keep your income going until that 3rd kid is in college or launched so you don't get hit with multiple kid-related emergencies at once. Of course it feels laughable to you.

The other thing about one kid is that it allows you to make an assessment based on the one kid. There are some kids who parents will look at when they are 17 and say "let's go ahead and keep working and see how college goes" before retiring. And then there are kids where you'd retire and not even worry. When you have multiple kids you can't make that individualized assessment -- you have to kind of look at everyone at once and ask if you feel like there won't be any major unexpected expenses and unless you are very wealthy most people are just going to suck it up and work a little longer.[/quote]

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