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Anybody able to FIRE with kids still at home?
Old 03-30-2016, 06:57 PM   #1
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Anybody able to FIRE with kids still at home?

Seems like many people either have no kids or kids all grown up.
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Old 03-30-2016, 07:11 PM   #2
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I retired with two kids in college and no financial aid. It would've been cheaper if the kids were still at home and I would not have had to start mowing the lawn again.
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Old 03-30-2016, 07:16 PM   #3
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I'm in a position to FIRE and have young kids, but I've chosen not to. Most of funds came from a successful business venture as opposed to saving early.


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Old 03-30-2016, 07:30 PM   #4
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Yes, I still have one kid in college. Still paying tuition and housing. I'll be free next year.


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Old 03-30-2016, 07:43 PM   #5
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Put two through a while back on the fly (no college funds). Retired 01/2015 with high school senior who is now 2nd semester at UC Berkeley paying out of state tuition (total $60k+/yr). Even with prestigious scholarships ie. national merit etc...they are only one time payments in the first year and only about $10k offsets. Funding primarily thru ongoing gifting. We factored all of this in before deciding to pull the plug and taking a severance package. We are doing fine and haven't touched investments while making do with DB pension and just starting SS payments. Never looking back.....
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Old 03-30-2016, 07:43 PM   #6
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One in college and two juniors in high school


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Old 03-30-2016, 07:52 PM   #7
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Yeah, I have 3 kids. 2 are in elementary school. So far so good but I've only been at it a few years
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Old 03-30-2016, 07:54 PM   #8
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I have 2 in middle school and one in high school - My last day of work will be 4/30/16. College is fully funded.
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Old 03-30-2016, 08:53 PM   #9
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I retired at age 50 with a one and three year old boys, hence my handle RE2boys.....retired early with two boys. It's been 16 great years being a regular part of their lives. Just completed the FAFSA as the older one will be in college in the Fall but I suspect we won't be eligible for any aid.
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Old 03-30-2016, 09:18 PM   #10
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FIRE'd one year ago, one child graduating from college this May. Counting on him to start supporting himself soon!
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Old 03-30-2016, 09:32 PM   #11
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Quote:
Originally Posted by Raymond01 View Post
FIRE'd one year ago, one child graduating from college this May. Counting on him to start supporting himself soon!


We've told our kids no "bungee boys" after the oldest said his post college plan included living at home and having mom cook for him. I give him credit for trying to live below his means ;-)
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Old 03-30-2016, 09:34 PM   #12
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Retired two years ago with two in high school, Grades 9 and 11, and two in university, first and third year. Now one in Grade 11 and 3 in university. Hoping all will get successfully launched but could take awhile of course. All good though. Planned to have good cushion.
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Old 03-30-2016, 09:46 PM   #13
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Retired with 3 still at home. First will start college next year and I have to admit it is a concern. Due to assets, I doubt we'll be eligible for any financial aid, but the local state university is definitely affordable given they can live at home, get scholarships, and $2,500 tax credit.
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Old 03-31-2016, 03:06 AM   #14
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Retired 3 years ago with a 6th grader in private school. We needed extra cash so she dropped out and is working at Abercromie Fitch...not. Grateful that I'm financially well prepared for whatever college she can get in, and that I'm available now when she needs me.
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Old 03-31-2016, 03:44 PM   #15
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Official ER date is 6/1/16, but I've been on leave without pay since last August. I have two boys, 8 and 5. They can get free tuition at the college I am retiring from. (But paying their tuition is in my plan anyway - just to make sure I have that base covered).
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Old 03-31-2016, 07:12 PM   #16
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One college freshman. no financial aid but a well funded 529. He might be on his own for grad school.
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Old 03-31-2016, 07:28 PM   #17
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Retired in 2012 at age 49 with one child still in high school. DW retired the following year. Our son will be heading off to college this fall. It can work.
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Old 03-31-2016, 08:19 PM   #18
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We are pretty much FIRE with an 11 month old and one on the way (aug 27th). We are both home everyday (not working) with the 11 month old and it is pretty fun these days. Those first 4-6 months were really tough being home all day with an insane infant though :/
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Old 03-31-2016, 08:25 PM   #19
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When I retired my boys were 11 and 13... It's 2 years later... and they're 2 years older.

Advantage to retiring while kids are still under the roof:
- I can be "in their business" and make sure they're on track in school and not hanging with the wrong crowd.
- I have the emotional/mental bandwidth to deal with the teen drama and angst. It was harder when I was exhausted from working all day.

Disadvantages to retiring with kids under the roof.
- You have to do more planning for the financial aspect of launching them. I needed to make sure I had a plan for their college (529 funding, etc).
- I won't (choice) give them what they consider themselves entitled to: car at age 16, every electronic gaming system they desire, full ride at a private college. (I'm offering them bus passes and 4 years at a UC or CSU college... and opportunities to earn cash if *they* want to buy a new gaming system.)
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Anybody able to FIRE with kids still at home?
Old 03-31-2016, 08:35 PM   #20
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Anybody able to FIRE with kids still at home?

FIREd a year ago

2 kids still on my payroll

HS sophomore
State university freshman - no aid

It will be a while I'm sure before they can fly on their own. Fingers crossed that they launch successfully by early 20's...
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