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Old 10-20-2008, 09:16 PM   #21
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Many you with children had better plan on the kids coming back home after college/grad school/professional school. Maybe for an extended stay.

Quite a few middle-class jobs are gone forever or are so hard to get that they are unattainable for the majority of qualified young people. Think of it as a return to the multi-generational living of yesteryear and base your life style choices around this new paradigm.
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Old 10-20-2008, 10:00 PM   #22
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Many you with children had better plan on the kids coming back home after college/grad school/professional school. Maybe for an extended stay.
Are you suggesting moving to a one room house with no couch while your kids are in college?
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Old 10-21-2008, 07:59 AM   #23
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Are you suggesting moving to a one room house with no couch while your kids are in college?
When I was in college, my parents moved 1200 miles to a smaller house.
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Old 10-21-2008, 08:41 AM   #24
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Those are my thoughts at the moment - I have a young family and the ability to work in my field on a semi part time basis making 40-50K per year so why not try it? I'd rather work now while our kids are still at home than be required to return to work in my 60s doing who knows what. I wouldn't anticipate being able to jump back into my former career at that point having been out of it for 20 or so years. My stock/bond portfolio WAS 1.5M, right now it's hovering right around 1M.

I would think getting back to 1.5M in my early 50s would be the goal. By then mortgage is paid off and kids are in college. We also start collecting on an annuity at that point which will be equivalent to my work salary.

As far as boredom, that wasn't a daily concern it was primarily a winter issue. Without kids in the house and the ability to travel in the winter months in our 50s I see that as less of an issue in the future.


I took a two year break after retiring from the military to finish a degree, and decided to go back to work. You might now want to look at the bream as a leave of absence to be with your kids while they were young. People will understand that philosophy much better.
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Old 10-21-2008, 09:29 AM   #25
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When I was in college, my parents moved 1200 miles to a smaller house.
yeah when I was in college my parents demolished my room to make a bigger master bedroom.
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Old 10-21-2008, 10:34 AM   #26
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Your situation is similar to mine except that I am single. I retired a few years ago, and I'm still not even 40 years old. My portfolio high water mark was 1.4m, and today it's threatening to dip below the magic 1m number. I've always felt that living on the 50k or so SWR was difficult, but very worthwhile. If I had dependents it would have been completely out of the question for me.

The coolest thing about doing this while we are young is that we really do have the chance to start over if necessary. I'm thinking eventually I would like to get some kind of freelancy or entrepreneurial work going, and this economic downturn has increased those inclinations.

I am certainly happy that I took the chance while I had it... financially spending that money at a local market top was actually the best possible scenario. Going forward I have lots of options: buckle down and frugal my way through, get a job and earn my way up, or just wait a few more years and see how things look then; we might be right back on track. It's certainly a better outlook than the folks living paycheck to paycheck, whose options for dealing with the economy include working harder longer, and, well, not much else.
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