DIY, baby
You’re not seeing/understanding the major difference. If a single person makes a mess, who gets messy and has to clean it up? The one person. I make a mess, 4 other people get punished. I have to be more careful now than I was when I was single. I’m also responsible for my kids actions until they turn 18 so I need to cover/plan for those contingencies.
Run it by me. I’m interested. My take is that society/civilization/an economy doesn’t continue if people don’t have kids, so you can’t just say I’m getting rich and winning because I’m not having kids. Not saying it’s for everyone or that, but I wouldn’t say a person is winning at the game of life by not having kids. Again, that’s my take…open to hearing yours.
Haven’t reached this point yet, but I’ve been thinking about it as well. I’m tempted to think a good accountant may be more valuable than a financial advisor. I do like the money guy team, and in theory Brian would be the best of both worlds (not that I would assume I would work with him), but fees always turn me off. I’d rather pay a fee for an hour or two conversation once or twice a year perhaps…
Totally respect that, I just think the idea of “thanking” parents for having kids working in those roles is a rough take. Can we go around and trash all the parents of kids who bring down society or contribute nothing? Kinda my point of a slippery slope.
You're not seeing what I'm saying. We've been saying the same thing but you're clouding your thinking because you think XYZ expense has more importance and "doesn't count". It all counts. If you're choosing to spend $250 on a travel soccer league for your kid instead of socking it away in retirement, that's the same thing I'm doing, just football tickets or something instead. You just don't want to call a spade a spade.
Per your last paragraph no, you’re not correct there. Our discussion started with you saying you’d spend now instead of save if given the choice. While I believe most parents have the opposite opinion. That is why I mentioned family dynamics.
He literally did none of this, you said your preference was to spend now while you're young, to spend rather than save extra given the choice, he said that having kids could make a difference in terms of that mentality.
Both my parents (divorced) thought they’d have a payday. It impacted behavior…in the end one got it and the other one didn’t. Except for a small insurance policy that helped with college savings, nothing passed down. I didn’t want to live like that, so I have aggressively saved for retirement and am going to be in a position to retire early. Still trying to decide what sort of legacy I’ll want to leave.
You really can do most of it on your own. Instead of having someone actively manage the account for a percentage just do a yearly check in with a financial advisor you trust. Don’t buy in services just get the consult or pay for a single review.
That's already a reason to get out of bed, a couple of times a night
Maybe or maybe not. You can never be certain of where you want or live in 25 years so there is that. Some of it is how comfortable you feel that the place can take care of itself. In 25 years it will need a new roof, siding and flooring for sure. Decks replaced along with furnaces/AC if this is not a new build.
We owned a house on Lake of the Ozarks for 25 years. We did not rent it but you learn a few things anyway. Consider the market. Down there, it was hard for that to pay off since the rental season was basically only the summer with some fall and spring weekends. Second, the best time to rent it is when you might also want to use it. Do you really want to own a house you have to maintain but not use? Third, you don’t know what your situation will be in 25 years. I never thought we would sell that house. We loved our family time there over the years. My parents died and my daughter moved to Minnesota. At most, she might come down once a year. It became a lot of work without much pleasure. As far as retiring there, it is a great place to be from April through October, but there is nothing to do there in the winter.
