ER with small children

[Maurice]

Lets hope its that simple.

 

[flyfishnevada]

Nothing with kids is that simple, they do have minds of their own and they use them! I wouldn't worry about it. They will get the message. Besides, my point was if you retired early and enjoy it, showing them that and maybe motivating them to follow in your foot steps is a good thing. I think spending more time with them far outweighs any other consideration.

 

[FUEGO]

Seems like an ER'd parent could be a good life lesson. "Look how Daddy and/or Mommy was able to come from a middle class background and save enough to fund a comfortable life of financial independence."

The math is simple. Save some of your income each month. What you save is an asset. Assets can be put to work for you to earn you more money. Having a lot of assets (and not a lot of liabilities) gives you flexibility and liquidity, both good things.

When you have enough assets that earn you enough money to provide a lifestyle you are comfortable with, you can do whatever your assets (and hence income) allow.

I personally don't find anything shameful in advancing from one who toils for a living (working class) to one who lives off the proceeds of their capital.

 

[NW-Bound]

I personally don't find anything shameful in advancing from one who toils for a living (working class) to one who lives off the proceeds of their capital.

Nobody would suggest that. I think most people would worry that their kids would say "Hey Dad, you've got it made, so don't squander it all. Save some for me. I want to RE too."

 

[FUEGO]

Nobody would suggest that. I think most people would worry that their kids would say "Hey Dad, you've got it made, so don't squander it all. Save some for me. I want to RE too."

I disagree! I'm sure a minority of folks would find living off of accumulated capital morally inferior to working for a living.

But if the kids mention "Hey Dad, don't squander it all!", then that's a good time to discuss the distinction between "our" money and "their" money.

In my case, there was virtually no direct intergenerational wealth transfers. I didn't inherit a large amount of "family wealth", land or businesses. So I don't feel like I have to give my kids a large inheritance (though they will probably get one based on FIREcalc runs) or "economic outpatient support" during their adult lives.

I'd like them to learn the realities of life and not be misled into adulthood!

 

[michelle]

"Hey Dad, you've got it made, so don't squander it all. Save some for me. I want to RE too."

Now you're thinking like a kid. It's only human nature.