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anon's avatar

Advice for anons with kids - if your goal is to build generational wealth, your "exit number" should take into account what you need to live off of AND how you want your children set up.

This changes the math, changes how you approach wealth preservation (slightly), and requires you to do some process work that a lot of people might not be thinking of (ex: life insurance, trust).

Happy to share what I'm doing if there's interest in the Jungle. I've dealt with or am currently dealing a bunch of this stuff (mid-30s, high NW with kids).

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BowTied Tarzdan's avatar

Read this FIRE blog, Early Retirement Extreme. Physicist who couldn't get a real job, so he spent his time sewing up the holes in his socks to save money. From the I-shit-you-not department. Let's just say I read BTB now and I never learned to sew.

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