Originally posted by Love Supreme:
I think you have missed the point here. What I am saying is that by 55 years old, i should have enough saving to put all my children through university regardless of their age. That doesnt mean that I will only start saving for my children's education after paying off the mortgage at age 50.
The issue here is not about weather I will choose to retire at 55, but rather can I afford to retire at 55, ie. being completely debt free and live life without any financial worries.
I see ... my bad; differnet approaches to the future.
I take a more conservative approach in that I estimate my child to go to uni at 18; and I benchmark myself to start saving when baby is born, and keep a steady injection of cash into his/her trust fund until he/she turns 18. Therefore, when I saw you say that you expect to have enough cash by the time you're 55; I was
because you'd be pretty old by then ... which against my calculations, would mean that you only started having kids and saving by the time you're 37.
Again, gross oversight on my part and I apologise.
Originally posted by InnoHippo:sure or not ...... after GST hike, strictly no spending
