Save More When the Kids Leave
In terms of lifelong expenses, kids are the ones to take the cake- but that’s understandable, right? Well, it is, up to a point. You have to let your kids fly out of the nest eventually. In some cases, they will do this willingly. In other cases, they need a little push.
It hurts a lot of parents to push their kids. But you’re not pushing them away. You’re helping them achieve their own dreams and stand on their own.
Now you’ll have more money to put aside. If you still have doubts and really think you’re helping your kids thrive by helping them as much as possible, think about it this way. If you don’t do this now, your retirement savings will suffer, which means that you may have to turn to them for help during your golden years. Is that really the sort of burden you want to put on them?
Getting a Tax Refund? Put It Into Your Retirement Savings
We all await with bated breath for our tax refund. We usually picture what we’ll do with the extra cash, too- I’ve done it more times than I’d like to admit during my youth. But eventually, I realized that setting the money aside will help me a lot more.
I looked at that money and repeated this mantra: this is what my happiness will be based on in the future. I said this because I had plans on pursuing a lot of hobbies during retirement- hobbies that are quite costly, might I add.
You should try it!