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[quote=Anonymous]I am a wealthy, educated DMV SAHM. Happily married for 30+ years. We started saving for retirement and college for our kids, through mainly extreme frugality in the early years when we were not making too much money. We had our children only when our financial situation and HHI increased.  We saved because of our upbringing (immigrant Asians) and insecurity.  However, there is really no reason to save for your kids, if your culture is not one of generational living.  And American culture is very individualistic so having raised your children till they are 18 is actually very generous.     If your kids are not going to be taking care of you in your old age because that is not the societal norm, I think there is zero reasons for you to spend money on your children after 18 and neglect your retirement.

I know that my kids who have been born and raised here will not be following my Asian culture. They will probably not even marry Asians. In that case, we will be foolish to spend all our money on them and not take care of our own retirement.  Yes, my kids are very lucky that we will be paying their college because we can afford it, but we are also aware that there will be very little reciprocity towards us because this society is not like our home country and there are no societal pressures and precedence to take care of parents and relatives in old age.  Our only hope is that after taking the gift of paid college from us, they have the brains to at least give that same  advantage to their own kids.

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