We’re at a crossroads where we could either continue working for another 25 years, save heavily, retire at a reasonable age, and leave a substantial inheritance for our kids, or pivot towards a different path. The latter is what we are inclined to do.
We wish to retire when our youngest graduates high school, live comfortably, travel more and indulge in the fruits of our labor. We intend to spend most of our savings, leaving only a minimal inheritance for our children.
We have always been of the belief that our kids should not be waiting for an inheritance to secure their futures. We have conveyed to them that they won’t be receiving any financial aid from us as adults, save for half of their college expenses.
Recently, after a minor health scare, our eldest daughter queried about our future plans. Upon explaining our financial stance, she became upset, accusing us of prioritizing our enjoyment over their wellbeing.