That’s good. I’ve not lost a minute of sleeping worrying about money since I retired.
As for my kids, one has saved enough to be able to basically retire at 40 (we’ll see how it goes) and the other is okay. I wouldn’t want to give money to one and not the other. Now, if either of them needed it, I’d be happy to help. And we plan to pay a lot for our grandkids colleges. I had almost no student debt (back when I went to college it was a lot cheaper) and we paid for our kids. Not graduating with college debt is the best thing we can give them. We’ve put money in college accounts already.
I’ve said before that while I don’t have a fundamental problem with CG taxes, it’s really frustrating that with a regular investment account becoming the primary vehicle for my retirement savings (I have a bit of an odd situation and no access to things like 401k), any rebalancing or risk management makes me take a tax hit. It really drives me nuts.
I am definitely going to have to find a social group to spend my time with. I’ve been coasting on work and chores to fill my time since my friends all moved out of state.. Once that’s gone, I will turn into a fat vegetable if I don’t’ start doing something like getting back into gaming or some such. The local game stores might start seeing me a lot.
I walk through my neighborhood every day. I’m 61 and I’ve lived here since I was 29. There’s a very nice retirement community a few blocks from my house and sometimes I walk through it. The other day one of the employees drove by on a golf cart and asked if I needed a ride to the dining hall. I was offended at first until I realized that you need to be at least 55 to live there.
Well, even those of us who don’t “need” it, sure do appreciate a little more. We have a couple of kids who are doing fine, but sending them a check once a year takes some pressure off.
I was a regular on the San Jose State University campus for about six months getting a tech writer certificate at age forty-five and I felt ancient then.
The one thing I’d worry about with this is - what if that rescue closes up shop before you find yourself needing them (if you do end up needing them)? If they’re a non-profit, you can of course look at their financials to see how they are doing now, but 10-20-30 years down the road might be a different story, and of course they can close for other reasons as well.
You can create a trust for your nephews and nieces, and for the ones who aren’t so good with money, limit how much they get and/or what they can do with it. Look up ‘spendthrift trust’ to see what I mean about the latter.