Occasional lurker over the last several years.
1st post.
I’m 59 1/2
Wife is 58
I am semi retireing 11/1/2019, I’m going to do seasonal/part time in the office, that has been my career over the last 35+ years. Will generate $25-$30k income. (Until age 65)
My wife will continue her part time job for a few more years ($24k/year)
Expect/Hope for $85,000+/year income
SS at age 67: Me $2,300/mo.
Wife $1,400/mo.
Wife State Pension $1,000/mo (when she retires)
Assets: Farmland $550,000 ($20,000/year income)
Investments $1,300,000. (Mutual funds, annuities, cash)
No debt.
LOW cost of living area (small town Midwest )
The farmland and $275,000 of our investments were from a recent inheritance.
My question is.
What are your thoughts on passing $100,000 to each of our 2 kids?
kind of an inheritance pass thru.
They are both Great kids, educated, decent jobs.
One needs a different car, plus has student debt.
One needs help to buy a home.
Thanks
1st post.
I’m 59 1/2
Wife is 58
I am semi retireing 11/1/2019, I’m going to do seasonal/part time in the office, that has been my career over the last 35+ years. Will generate $25-$30k income. (Until age 65)
My wife will continue her part time job for a few more years ($24k/year)
Expect/Hope for $85,000+/year income
SS at age 67: Me $2,300/mo.
Wife $1,400/mo.
Wife State Pension $1,000/mo (when she retires)
Assets: Farmland $550,000 ($20,000/year income)
Investments $1,300,000. (Mutual funds, annuities, cash)
No debt.
LOW cost of living area (small town Midwest )
The farmland and $275,000 of our investments were from a recent inheritance.
My question is.
What are your thoughts on passing $100,000 to each of our 2 kids?
kind of an inheritance pass thru.
They are both Great kids, educated, decent jobs.
One needs a different car, plus has student debt.
One needs help to buy a home.
Thanks