I was reading the topic about people FIREing at market peaks & it's impact on the cFireSim results, and I thought, "Huh, my ER date is really going to be triggered when my children are self-sufficient." Our annual spend will drop by about $15K per year once they're both through university. #1 has been quite successful with summer jobs and is able to cover most of her university costs going forward. #2 will be a little more expensive, and I expect the coming school year to be our peak year for education related spending. But he should be reasonably self sufficient in 2 years as well.
And then I started to become confused. Our contribution to the kids education was budgeted via an RESP (registered education savings plan in Canada) many years ago. So why do I need to wait for them to finish university if they're only spending money that was carefully planned out? I don't think I do. Perhaps I'm being overly cautious.
Is anyone else waiting for children to become self-sufficient before ER?