Reply to Anyone transition from big pay/big house/big expense to a low cost, simple, yet fulfilling retirement life?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I have kept a rental property in our city in case our kids want to move back home someday. Right now, it provides us with significant cash flow, but we don't really need it, and I'd let the kids live there while they save money to buy their own home.  They can't move back home.  We are both a little older, a little OCD and love quiet evenings, so having 20-somethings in and out would be hard. One of them, in particular, clashes too much with DH to live with us after 22.  [/quote]

just curious, did you have kids late in life? I know older people struggle with adaptability. [/quote]

DP: nope, we had our kids at 30 and 35.  we have downsized to a 2bed/2bath condo in the city, near our previous home (15 miles away).  We love it, but it's not a place for more than the 2 of us for very long.  We will happily help our 20 yo financially should they return to our city after college (VHCOLA) and help them get a rental in our condo bldg or a nearby apartment building. Best of both worlds---they are living in our city, nearby yet all of us have our space.  With only a 2bedroom, we like the 2nd bedroom for Work from home and just to have extra space (set up ironing and clothes drying in there, sort the bills/etc) so I can keep the rest of the place (not much) clutter free.

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This sounds cruel to do.  No place for them summers or holidays.  [/quote]

They have a place--the 2nd bedroom for summers and breaks---it's all theirs.  They have a major city right outside their home, walking distance to anything you'd want.  
The older kid was already "flying" when we did this, and living 2K miles away. So when all are home, we rent the guest suite in our bldg for one or a hotel room 1 block away for them to have a place to sleep.  And if it's only 3-4 days, sometimes one sleeps on the couch.

Why is it cruel to want to do what you as a parent want once kids are not home 75% of the time? I spent 18+ years crafting our lives so that it was best for the kids (living in suburbs with great schools, spending weekends at kid's activities, taking vacations that work for the kids, etc).  Once they head to college, I no longer need to keep a 5 bedroom massive home in the burbs, unless that is what "I want".

They always have a place to come to, it's just not a massive bedroom with en suite bathroom that they grew up with.  And we will help them financially if they land back "near home" after college.  I think most kids would prefer that rather than living with their parents at age 22+.  
 
[/quote]

It's nice for them to have a small bedroom for them to land on holidays, but not such a cush setup that they are disincentivized from getting their own place and becoming an adult.  I'm like you - whenever I have any guests, including someday adult children, I can't relax. I have to cater to them, clean up after them, worry about meals, etc. Also, it's unreasonable to expect a twenty-something to keep the schedule of a fifty-something introvert who prefers to read over watch or hear sports on the TV, and who wakes up anytime someone comes or goes. [/quote]

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