lynxcat

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As long as they are ready for it and responsible enough to handle it. Many, if not most, 22 year-olds aren't ready for the responsibilities of home ownership. We already have a thread on this page about a 20-something year old that is trying to figure out how to get out of their mortgage payments.

I have 4 kids in their 20's and two of them I have no worries and 2 of them still need a little guidance - more interested in partying and living it up, as opposed to saving money and planning for their future. All have college degrees and bright employment futures, so they'll come around when they are ready.

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Yep, will be a judgement call whenever that time arrives. I also will not be pushing the home ownership agenda. I think geographic mobility is quite valuable at that younger stage of life.

My bigger picture 'ah ha' in the last few years is that inheritance is much more useful and valuable in early adulthood than it is when someone is older.

$1M on wife term
$3M on me term, laddered policy mix of 20 and 30 year terms
Also have some through work that I don’t really value into the decision making.
$5M umbrella

I plan to pay for everything until they have a full time job. I will expect them to treat their performance in college like it is a full-time job...but they are earning "As" instead of being paid.

I expect internships during the summer months. I do not expect my kids to work during the semester.

This is what my parents did with me and I'm thankful for the arrangement.

LINK

Spending, debt, and inflation starting to really show up.

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So if your monthly expenses are 10k (120k) year, you are shooting for 3.9m?

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Yes, that's the right idea. A multiple of expenses is the simplest way for modeling from my perspective without it just being a made up number. Of course, plenty of choices can be made to increase or decrease spending as one goes through life and retirement so it's just a benchmark.

Most recent research points to a 4.7% safe withdrawal rate (up from the 4% rule established by that same author). Those analyses assume standard retirement age. If you are retiring early and foregoing prime earning years (and portfolio weathering a longer time series), then a more conservative SWR of ~3-3.5% enters the picture.

I typically model liquid net worth at 33x expenses as of the time of retirement.

Disregards any home net worth and provides a 3% withdrawal rate.

Model in Projection Lab.

Eh, just enjoy life and look for the positive in things.

An alternative model growing is to have someone else buy the car for you. They take like a $1000 fee but you don’t do anything and they negotiate everything based on the parameters you provide.

That’s a no for me dawg.

Huberman Labs just had an episode on this. He’s a Stanford neuroscientist and he brings a bunch of great guests to the podcast.

The main takeaway: try things that cause you to learn new things and skills. It’s best when it is both physical and mental. For example, dancing with a partner where you go learn the Tango together. It will have steps, coordination, so it connects the physical and mental. They don’t all have to have this dynamic, but those are proven more helpful. Broadly, you need to keep challenging your brain to learn to keep it sharp.

Rarely.