Quote Originally Posted by catherine View Post
When I have all debt paid, including the mortgage

When I have about $250k in the bank

When I can live solely on social security, which for DH and I would be about $60k a year.

This is like looking through a telescope at a distant shore.
That seems reasonable, an expectation to live on $60,000 (with no mortgage) plus $250,000 in the bank.

The rest of it…I have no idea if it is achievable. I don’t know how much your debt is and how much you bring in each year, but I am sorry your income is dropping unexpectedly.

My (as usual) unsolicited advice is to put every damn penny, and every life action, toward reducing the debt at this point. Your time is running out. You may not be able to achieve the nicety of $250,000 in the bank. And please god let there be no ideas of giving children money as part of this plan. Once you achieve the $250,000 and no debt, THEN give kids $ if you still have contracts rolling in and you are not 85 years old.

I personally would be embarrassed if my mother was a senior citizen and slogging along in a tiring job just to give me money.