Anonymous wrote:Everything is focused on finances. Give yourself the best opportunity when you retire and become old by living a healthy and modest lifestyle now. Give your child the best opportunity of becoming a capable adult by allowing them to be independent now. Surround yourself with positive people.

Give your child the best education you can starting now. Love for learning in a school/home environment that will push DC to think critically and independently. All the things that other posters have listed are realities that you will have to deal with. Ensure that your DC is equipped for life because before you know it DC will be where you are.

Anonymous wrote:Everything is focused on finances. Give yourself the best opportunity when you retire and become old by living a healthy and modest lifestyle now. Give your child the best opportunity of becoming a capable adult by allowing them to be independent now. Surround yourself with positive people.

This and just hope you get lucky!

You probably want some money to contribute generously to a wedding.

Make sure your child launches - get them through high school and through college with the best options possible - a 30 year old dud still living with you will set your retirement plans on fire - so raise that 6 year old well

Extended family issues—might need to help out financially, residentially, time wise parents, siblings, etc.

Mainly -
- Mental and physical health of you, spouse, kids, parents, ILs, siblings

- Job loss

- Death - your, spouse, kids

- Job loss - yours or extended family

- Catastrophic natural event

- War

- Stock market collapse

- Pandemic

- collapse of social security, medicare, medicaid

- Crazy and mean president leading to civil war

Everything is focused on finances. Give yourself the best opportunity when you retire and become old by living a healthy and modest lifestyle now. Give your child the best opportunity of becoming a capable adult by allowing them to be independent now. Surround yourself with positive people.

Anonymous wrote:https://www.theatlantic.com/magazine/archive/2019/07/work-peak-professional-decline/590650/

Job loss or loss of health that curtails your working years.

Illness or disability can strike anyone at any time and massively change finances for the whole family.

Can someone make this a gift link?

Risk of your child having physical or mental health problems that prevent your nest from emptying on terms you find acceptable.

Anonymous wrote:"Putting money away" means what to you?

Buy Apple, Amazon, Google, Netflix, Nvidia, and Microsoft. Put in trading account. Check every year. Buy to keep for decades.

That's how I pay for my kids' colleges and what will fund my retirement. The 529s I opened for my kids didn't do nearly as well.

This. I'm emptying our lousy 529 asap for the older kid. What a scam even though it did 2x. My other stocks did 10x in two years. Had I been offered a 401k, I would have never known that stocks (or crypto) do 10-100x. I retired at 46 just in time to take care of my aging body. Lots of changes with peri-menopause including sleepless night and anxiety out of nowhere. Not sure what men have coming for them.
Investing for my kids already. Roth and investment account is all you need.

I launched my youngest off to college just in time for my mom to get diagnosed with dementia. Four moves in five years later, and 6, 7 or 8 hospitalizations (lost count awhile back) and this is my life now. It’s not really the adult kids that are the issue, it’s our elders.

Risk of you dying or becoming disabled before your youngest launches.
Risk of being unemployed and needing health insurance before Medicare eligibility kicks in.
Risk of you needing long-term care later in life.
Risk of a child needing financial or medical help in adulthood.

insurance helps with some of these. Do you have a spouse? That changes some of the calculus (especially if your spouse is functional).

Other things to consider: do you want to leave money to your kids/grandkids? do you want to support them in college/early adulthood? do you want to leave a charitable legacy?

"Putting money away" means what to you?

Buy Apple, Amazon, Google, Netflix, Nvidia, and Microsoft. Put in trading account. Check every year. Buy to keep for decades.

That's how I pay for my kids' colleges and what will fund my retirement. The 529s I opened for my kids didn't do nearly as well.

https://www.theatlantic.com/magazine/archive/2019/07/work-peak-professional-decline/590650/

Job loss or loss of health that curtails your working years.

Illness or disability can strike anyone at any time and massively change finances for the whole family.

My youngest is 6. I am 42. I am actively putting money away and saving for college and retirement.

Parents of adult kids, what do I need to keep in mind?