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Money and Finances
Reply to "I always hear that people are living beyond their means, but…"
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[quote=Anonymous]Because of the way that partners are able to save pretax income in tax advantaged ways, we save more than a third of our income for retirement. Honestly, we will have way more money than we need in retirement. And, we have been saving for college for 20 years and our oldest kid is 9 because we saved for a decade before he was born since is was tax advantaged. We will have a few tight years in terms of cash flow while all three kids are in private school, but long term we have tons of savings that just can’t be made liquid. For people who are not employees but partners or business owners, I think this is often the case because of how tax laws work. [/quote]
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