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2 sons, 1 daughter - and yes - I intend to do pretty much as you've described. (already own 4 cars that the family uses now...) I hope to be able to help them out within reason ($25-50k/child for initial cars, down payment on home, etc. ) That is planned for in the long-term budget.

thanks all for the good advice. Not really 'counting' on inheritance, but it is already in a trust for us. Main issue is downsizing while youngest child is still in college and possibly moving south when home was CT. Other plan is to downsize 'up here' and then take a 2nd step down a few years...

We still have 3 children who would prefer to come back to the house they grew up in when on college breaks - or beyond - but we have so much equity in the house, we can retire now/very soon if we sell the house and downsize. college costs are fully funded and not part of the #'s below we have...

what is 'DW'?

by initial calcs, we'd like to have $50k/yr, dropping to $40k after 15-20 yrs.

if we sell the house, we can bank some $800k and buy a lovely place away from the NY metro area for $350-450k. this would still leave us w some $700-800 between 401k and cash, with no mortgage. even w waiting until 67 for SS max - it seems we may be able to pull this off?

married, 55, 6 more yrs of college payments ($40k/yr) to go. $320k 401k now, another $800k equity in house, plan to work another 3-5 yrs (until 16yr old daughter is somewhat settled in college/life), then quit this rat race...wife is already 'retired', but doesn't want me to retire (and thereby...