Reply to Downsizing when you age or empty nesters?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think this is more of a finance question than a real estate or midlife one, so posting here.
What are you doing with your real estate options when you get to say 55, or when you are empty nesters? Are you downsizing? Moving to a TH? Aging in place? Keeping a larger home for family gatherings, grandkids? What’s your plan?[/quote]

Is this post from 1975? Empty Nestor at 55 ready to retire?

That was back when my Uncles were cops and Firemen married HS sweethearts young and by 55 a full pension and kids long gone. Kids just went an inexpensive local college.

Today men and women are having kids much later. Their kids are having kids much later and college costs are insane.

When I was 55 I had a 16, 14 and 10 year old at home.

Hence the issue downsizing no longer works

My youngest graduates college when I am 67 and then wants to move home for grad school.

Then until they are married with kids I am still hosting holidays.

I thought I was an old parent but tons and tons parents my age at school.

My friend is 61 with a 13, 11 and 6 year old at home. Had last kid he was 55, wife 45.

55 year olds are still having kids and 25-30 years from retirement.

[/quote]

There are also plenty of people that age who become empty nesters, retire, and downsize.[/quote]

Yup!  Did have kid until almost 30, was done by 35, by 52 last kid was off to college.  
Sold big family home and moved into our 2 bed/2bath condo in the city.  Won't retire until kid is done with college but we could if we really wanted to, the money is ready and waiting

DOn't know about most people, but I don't want to be over 60 and still have kids on my payroll/supporting my kids because they are not yet out of college.  So we chose not to have a kid at 40+[/quote]

Big plus  by working later my SS and 401k will be huge. [/quote]

As HHI earners, our SS will be huge already.  And 401k/IRAs are huge as well (over $4M currently).  They are only about 10% of our NW.

I don't recommend retiring early if you are not financially ready or mentally ready.  
We always planned to be done by 56/57.  We planned our kids and savings accordingly

[/quote]

I am 62 my job has a 401k and a 457b. Both with matches. Combined I am putting away 69k a year. I plan to work till 70. Which will give me 48 years of 401k contributions. I then want to join some boards, adjunct professor, consulting then retire around 80.

My uncle retired at 78. He is now 93 has a younger girlfriend and a place on beach in California.

My grand aunt just died and she never retired at 90. She was 104. I saw her at 103 she was managing a renovation on one of her rental properties. [/quote]

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