SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hi all,
I've been wondering about this for a while and don't recall seeing a relevant thread on the topic.
For me, and probably for a fair number of us, retirement and the kids leaving the nest will roughly coincide.
There have been threads going on about what expenses increase and decrease as a result of the transition to retirement.
I am wondering about what expenses increase and decrease as a result of the transition to empty nest-age. I am also interested in when and how much those expenses increase and decrease. I am particularly interested in those expenses that were a surprise when they changed.
In my particular case, here's what I'm sort of guessing:
1. Taxes will go up as I lose the dependent deductions and the child tax credit.
2. Child support will go down stair step-wise.
3. Food expenses will go down.
4. Housing expenses and related costs could go down if I downsized after my oldest one or two leave.
5. Utilities would drop by a little if I stayed in my current house.
I'm naively thinking that this all will happen as they hit high school graduation / college start. I am not planning on boomerang kids, or adult outpatient care, but I'm also somewhat of a softie in that regard and could see that tripping me up.
I treat college expenses as a separate item and have cordoned off funds for that in their college funds.
I'd be interested in everyone's opinions (for those who have yet to pass through to empty nest-age) and experience (for those who have already done so or are in the process (like Nords)).
Thanks,
2Cor521
I've been wondering about this for a while and don't recall seeing a relevant thread on the topic.
For me, and probably for a fair number of us, retirement and the kids leaving the nest will roughly coincide.
There have been threads going on about what expenses increase and decrease as a result of the transition to retirement.
I am wondering about what expenses increase and decrease as a result of the transition to empty nest-age. I am also interested in when and how much those expenses increase and decrease. I am particularly interested in those expenses that were a surprise when they changed.
In my particular case, here's what I'm sort of guessing:
1. Taxes will go up as I lose the dependent deductions and the child tax credit.
2. Child support will go down stair step-wise.
3. Food expenses will go down.
4. Housing expenses and related costs could go down if I downsized after my oldest one or two leave.
5. Utilities would drop by a little if I stayed in my current house.
I'm naively thinking that this all will happen as they hit high school graduation / college start. I am not planning on boomerang kids, or adult outpatient care, but I'm also somewhat of a softie in that regard and could see that tripping me up.
I treat college expenses as a separate item and have cordoned off funds for that in their college funds.
I'd be interested in everyone's opinions (for those who have yet to pass through to empty nest-age) and experience (for those who have already done so or are in the process (like Nords)).
Thanks,
2Cor521