Quote:
Originally Posted by Samonadreau
I am 36 with 4 kids and almost $250k saved and another $400k in home equity. Trying my darndest.
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I hear after 3 kids, you basically have to rely on child labour (ie: training the oldest early to do things for you) to survive. Damn. Good on you.
Also, I find it kinda hilarious how the last few pages have gone. It's a little bit along the lines of, "It's survivable/not detrimental and not poverty line (based on an anecdote) for a yearly income of approx $40K." vs "Nah, that ain't for me. I need like 3-5x that for my retirement."
This is why I think some of the retirement calcs are super messed up. I don't get how so many of them are usually around 3-5x difference (and not always are the discussions at $40K, it's often higher). Yes, different circumstances for different people, but I don't think the average pre-retirement arguments for lifestyle are in the 3-5x wages range let alone post retirement. I don't understand how this disconnect constantly permeates almost all these calculations. I could maybe see expectations of income up to 2.5x range, but once it hits 3x+ it starts to get crazy IMO.