Madison MoneySports - Personal Finance Thread

[Kaan]

I know a lot of folks are doing okay for retirement in this thread...

Well, I'm playing catch up.... not having a kid yet makes it easier now, but, that will just force some other choices, hopefully ones involving not having this overpriced fucking house.

I also want to start diversifying into some rental property next year.

we arent looking to get into the rental property game. we talked about it... sometimes it comes back up (usually on beach vacations... talking about building an AirBNB empire) ... but overall its just not our game. One thing i am planning to do is "play catch up" when i turn 50... but thats just turning up the investments we are currently doing. Instead we are looking to try to pin down a region we are looking to retire in and possibly purchase property there. 

one reason i'm waiting until 62 to retire is for the government pension... the extra 25% of my high 3 pay will do a lot for us in retirement... the big bonus is my healthcare cost is locked in to whatever i use for my last year (the insurance coverage is locked in too)... most folks do the caddilac government plan, which is "primary" in retirement (paid for by my pension... with plenty of money to spare... BOAT time!)

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Our kid taking care of us had never even entered my mind until I read Kaan's comment.

Homeboi isn't in preschool because it didn't open due to COVID, but part time childcare is 13% of after tax for us. It's a lot more if you factor in the income my wife *isn't* making because she's a stay at home mom.

I mean you have a chance for him to look after you (not full time care, but to be helpful... assuming he is local).... we have 0%

Yeah, I guess I just never thought about it because my parents are very financially dependent and live on the other side of the country. (#priviledge)

my parents were doing great for a long time... my mom recently went into hospice from diabetes complications (3 week serious downward spiral). lucky my brother is close to help out my dad... even the 1.5 hour drive to go there has been "rough" lately. obviously we make the trip no matter what. obviously these thoughts have been at the forefront lately.