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Reply to "Who here is regularly supporting their adult children financially?"
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[quote=Anonymous][quote=Anonymous]It's hard for me to imagine being able to provide my kids with anything more than undergraduate education, which has been a stretch to save. How much money do you all have, and at what cost are you making these gifts? [/quote] I am 15:40 above. We make about $300K per year at 45/47 or $15K a month after taxes. College is fully funded (and done for one kid) and our monthly expenses are about $8K a month. Retirement is projected to be well in excess of our needs. So that leaves $7K a month. So we aren’t big earners (granted $300k is a healthy income) but we found that once we were done saving for college, and more importantly, our kids were in college so most of their expenses were covered by savings, we had a lot of left over money in comparison our lifestyle while they were at home. So while I agree most of these posters are probably very wealthy to begin with, you may be surprised how much excess income you have as an empty nester. [/quote]
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