To me, some expenses are fixed and giving to parents is considered one of them. Of course, if the parents doesn't want it (and one can confirm that they don't need it), one can skip it.
When J became a SAHM, I was adamant that contribution to her parents (aka my in-laws) should not stop or decrease. Our decision to let her leave her job should include her continuous contribution to her parents. It was only a few years later, upon repeated persuasion and confirmation by her parents that they don't need the money, that she stop.
Similarly, our FIRE target includes contribution to my parents. Me not earning a fixed income, doesn't mean my parents have to tighten their purse strings! By following the safe withdrawal rule (4%), I hope that I don't run out of money when I retire, so I can continue to contribute to them forever.
-H
No comments:
Post a Comment