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1) When Does a software engineer start financial planning for retirement since the our Career span is only 15-20 years on average.
2) How much and which schemes to invest to mitigate the risk?
3) How much do we need for retirement?
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Anyone here who can refer me for internal project for dot net profile.
Garib ko accha account ki khoj hai... Bohot struggle Kiya hai abhi tak ..
fun apart.
If anyone can refer my profile within their project for dot net then that will be great help .
Posi - sa Exp - 7 years Te h - .net ,not angular but willing to do Cognizant
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Coach
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Mentor
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Yes, it’s a cost like anything else. My parents did it for me, so I’ll do it for my kids.
Yes to undergrad and no to graduate school. And if they go to a private school I expect them to get scholarships.
I have three kids. We will fund undergrad but not likely 100%. I want them to have some skin in the game to begin making decisions for themselves based upon the financial impact.
We have 529s for them and does my father in law. They also go to private school now (ages 10/8/4).
Coach
That’s definitely cheap. I see it’s 50-60K per kid per year…
Yes as long as they're not doing something stupid like turning down a full ride at a good school to go to a "better" school @ sticker.
I’ll pay for undergrad and grad school - doesn’t matter public or private. if we are alive. The kids are also each getting 30k per year cash to help avoid estate taxes when we die. I’ve planned for i in my modeling. I am recreationally employed but not retired. Retirement is hard.
Mentor
It may not be huge, but people with taxable estates still do it. It’s an incredibly easy path especially if you have a number of donees.
We made our two sons borrow and pay for 1/3 of their education. We wanted them to shop for good state schools and have skin in the game.
We have 4 kids. At the moment, we are not planning to pay for their college for a few different reasons.
What most likely going to happen is we will do an interest free loan from our trust for them. And IF we can afford it, we will wipe it all off as a graduation gift. But our own oxygen mask first for sure. We want to make sure they don’t worry about us when we retire.
We most likely have to fund our parents’ retirements… so there’s that.
Coach
An interest free loan that may / or may not get wiped out between family members sounds problematic.
Could imagine some seriously hurt feelings, especially if the loan for the eldest is wiped out but not for others.
2 kids, saving for half of the cost of a state school. Figure we can hope for scholarships/summer jobs and/or help from grandparents to flow the other half (undergrad, 4 years) or take out minimal loans we can clear out quickly. They can keep whatever is left in their account when they’re done with undergrad and use it as they see fit if they choose a cheaper option or get $$. Not planning to pay for grad school. Definitely not willing to pay 50k a year for undergrad.
Yes. Our plan is 2 years at a local community college and then wherever they want for the remainder of their undergrad. Unless, they get a really good scholarship to a very good school/ have a specific passion and plan for something that requires them to go elsewhere (like culinary school)
Hell no
Okay now I’m awake and can add… we will likely help them a little for an in state type of school. (Ie if they go out of state that’s on them and their wallet). I didn’t get anything paid for by my parents starting around 15 and my husband got almost everything paid for. So we’re doing something in the middle.
No kids yet but plan to give interest free loans with favorable payback period. I never went to class having undergrad paid for and if I had skin in the game I would have taken it more seriously vs the sense of entitlement I had toward it. Also want to balance that I don’t want my kid worrying about money but incentivized to pay it back and get the most out of it.
I’ll fund their housing/living costs and plan to pay for A’s and B’s.
I liked what my parents did for me - took out a loan for each semester for the cost of tuition and had me pay the interest during the semester. At the end of the semester if I had solid grades they covered it, otherwise I was on the hook for the hours that didn’t meet the criteria.
I had skin in the game and was working hard to not have to pay. Though… I probably won’t fund a degree that doesn’t have solid job prospects afterwards (or where my kid can’t at least give somewhat of a business case for their degree plan).
I have no children at the moment, but I plan on having at least three. I love frugality and invest a lot. My grandfather was born poor and worked his way up to the middle class and made it possible for my father to become in the top 5%. My father worked very hard, bought me a brand new BMW and paid for undergrad and grad for me, and now I entered 1% at 32yo. I started my own consulting company and the sky is my limit. I am not fucking retiring like a pussy, I’m full of energy and I will work till the day I die, because I fucking love this. I feel sorry for the selfish FIRE-losers discussing leaving their children stranded, just so they could stick their noses in the cheap sand somewhere.
I hope I’ll be healthy so that I could be the pre-seed and seed investor to my grandchildren.
Pro tip: for undergrad, send your children to Europe, cost is zero, just as good, if not better.
Report back on how full of energy you feel once you have kids 😂
I have 3 kids and nothing really saved for them, specifically-education-wise (6, 4, 1). I am moving up quickly at work and still paying for daycare obviously. We are still grinding on keeping COL low and docking away more each year. The 529s scare me because I don't want to be locked into college if they decide against it. I figure I'll just max my Roth and could pull out contributions if I need to. More likely, I will still be making good money even if part-time later in life (I love to work) so I could pay as I go if needed. I attended public and community college, so I'm no snob. For me it would be what speaks to them and if they seem invested - I'm not about to pay for college if they're not into it. I would probably have them get scholarships and loans and pay them off for them if they graduate.