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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My BIL made 120k and lived like he made 350k. Went through dire straits now. The kids bail them out now and then. They at least have social security.[/quote]
We try do the opposite. Our HHI is about $250K, and live on $120K.   The rest goes into savings. We are in our 50s, and I'm a contractor. When my contract ends (could be six months, could be 1 year, who knows), I think that will be it for me.

In our mid/late 40's we moved to a lower COL area so we could downsize our mortgage for this very reason. We knew that as our 50s were approaching, our chances of continuing to make this much money would go down, so even though we could've afforded a much more expensive home, we bought a lower priced home (still pricey for most people), and got a smaller mortgage.

We are aiming for $140K to $160K for each child for college, and $2.3 mil (minimum) by the time we retire in our mid 50's/early 60's. [b]I will probably get a low paid admin type job [/b]just for the benefits and to pay for simple necessities like food and utilities, and by then, kids will be in college.
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Good luck with this!!

I've been trying to get one of these. Ha! Even these jobs are given to the young. Don't count on this. [/quote]

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