Meet a boomer who thought she’d be retired by now but wants to help her millennial son: ‘I’m not going to sit back and watch him not be able to go buy groceries’

by FUSeekMe69

9 comments

  1. 1 million just unfortunately with inflation isn’t that much to retire on. We are pacing for 6-12 million in retirement. I feel if you are under 40 anything under 3 million isn’t going to be a great retirement especially if you are still carrying a mortgage.

  4. But this same MSM outlet just printed that the US economy is BOOMING! /s

  5. I like how they always say “we did everything right “. I would love to see how they manage their finances.

  6. Ah, but feel good about it. Somewhere there’s a rich little girl, maybe 3, having a tea party with real caviar and fine China. That should make you feel good!

  7. All about cash flow. If you have little to no debt, life becomes simple. If you’re helping other family members (kids / parents) and still have a mortgage you need much more.

    I’m 60. Many of my friends have “retired”. What I’m seeing is they retired from a conventional job / career but still do a side gig (projects, consulting, etc.) to stay plugged in and earn some extra spending $.

    I’m lucky in that I own a business and can ratchet back my time, stay as engaged as I want, and still make decent money. As I get older, I’ll do less and less but I imagine I’ll continue doing enough to pay for nice trips. Right now income pays for living expenses and retirement fund pays for travel. In the future that will probably be reversed.

    3M now but still have a mortgage and am helping a kid in a HCOL city for a few more yrs.

  8. The issue is about peoples wants and they will retire whether the can afford it or not. I have chosen not to retire until all my dependents are making it on their own or I have sufficient income. All I can say is one million is not enough to retire on in retirement.

    Right now Im 58, and hope to retire by 68. I might by then have some supplumental income and my investments are worth something and my kids are on their own and not a drain.

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