Sylvie
@sylvie
Sylvie
@sylvie
“The secret of life is to waste time in ways that you like.“
"I was waiting for something extraordinary to happen, but as the years wasted on, nothing ever did unless I caused it.”
—Charles Bukowski
Save early and late. For many families, surging on TSP/401(k)/IRA before peak child experiential years then reducing retirement savings to boost memory-making expenditures during the Kid-span followed by maximizing saving after the Kid-span is a great way to harness the power of compounding.
Think about it this way—if you’re already at or above glidepath for your retirement needs, will spending $10K more on vacations for 10 years instead of investing $10K more in the TSP knock you off course? We can math that out, but for diligent savers it probably won’t.
Prioritize Roth IRA and taxable accounts.
In retirement, go where the money is: work. Few of us want to age in place at our workplace, but stepping out of the workforce early isn’t inherently virtuous either. What if the bill-payer for the Kid-Span is working a few extra years?
Prioritize. It’s probably going to be a brutal few years in the housing market. The days of cheap mortgages to buy reasonably priced McMansions may be in the rearview mirror for now. Can you tolerate less house to have a better Kid-span?
Discipline your dollars.