To retire or not to retire? 

Can I afford to retire?

I can’t retire until my kid has finished college and has a job. My daughter is still living at home and needs support.

So a little background:  

Margaux is sixteen years old. She has been a homeschooler for five years. She is doing college math, physics, software, and working on a startup. I’m worried because college costs a lot of money and that means as parents, we have to help our kids get an education, find a job, and settle down – all of which take longer.

And by the way, don’t forget the huge debt that we co-signed.  Bottom line: we may have to work longer to pay it off.  So, good bye retirement.

STORIES
We have a friend who had to prolong his retirement because he has two sons in their thirties who can’t find  jobs after finishing college.  They are still living at home.

Another friend has a son that went to college with a full scholarship during his freshmen year because his dad worked for a college. The family had a tragedy so the son did poorly in college then dropped out.  The dad lost his job at the college. The son now has to find a way to pay for his education now. Their daughter also goes to college and their son is still living at home. The mom would like to retire in a few years but she does not know if she can afford to.

IS THERE ANOTHER WAY?
I’m Asian.  This is our story.  Regardless where we live, we want the best for our kids.  So, this is what we do:

 Asian kids live at home while they go to college. They don’t pay rent, don’t cook for themselves, and don’t do their laundry.  Who does it?  Moms do it for them so all they have to do is “STUDY”. School is their only priority.

Kids get emotional support from their parents. Sometimes the kids live at home even after they have a job. They can save their money or help their family. Some kids live at home until they get married. 

My dream is my daughter goes to a good college, gets a professional education, finds a good job, and is happy.  And by the way, not cost our family ‘house and home.’

Is this a better model than being indentured for another ten or twenty years for very high tuition?

Maybe?