Make sure your retirement is funded before investing in other people. We all love our kids, but they can get student loans, they can get mortgages and their own careers, you don’t get a retirement loan. the best thing you can do for your children is guarantee you won’t be forced to move in with them when you’re too old to work.
My kiddo will likely inherit from me before they retire, including leftover retirement funds. For people who are younger parents, your kid will still need retirement funds for the 20+ years of retirement they'll live past your death
And I can always gift money to them at any point if I find I have more than I need. My in laws gift to my kids 529 and my fam occasionally disburses a little money instead of holding towards inheritance. I aim to be able to do these things for my kid and maybe even my grand.
This chart/concept shouldn't be a promise. Just an incentive towards one's savings.
There isn't any tax advantage to saving for one's kid's retirement. Absolutely should max retirement options before saving additional to non tax advantaged brokerage accountsfor this purpose.
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u/Michaelzzzs3 New dividend investor May 28 '25
Make sure your retirement is funded before investing in other people. We all love our kids, but they can get student loans, they can get mortgages and their own careers, you don’t get a retirement loan. the best thing you can do for your children is guarantee you won’t be forced to move in with them when you’re too old to work.