My in-laws are inspiring!

[Freedom2016]

Got to talking with my father-in-law over the weekend and I am so impressed with their financial decision making! They're at/close to (typical) retirement age, and they are a nurse and teacher. They lived by Mustachian principles for decades. During that time, they managed to send 1 kid to a private high school, send both kids to private 4 year colleges, and own 3 properties (2 are rental vacation homes), all the while socking away savings and buying long-term care insurance. When they sell their primary home next year, they will get enough from the sale to pay off all remaining mortgages, and then own 2 homes free and clear.

When they finally both fully retire shortly thereafter, and start having to take required minimum distributions from their IRA's, along with having Soc Sec earnings and pension benefits, they will be positively swimming in money -- having at least twice as much cash (maybe 3 times as much) in their hands each year as they normally spend in a year.  I'm really excited for them. :)

[kkbmustang]

Thanks for sharing this! It's nice to hear happy stories of familial financial prowess.

Neither the Hubs nor I are concerned about our parental units. His parents are frugal and have been wise with their money. My dad is frugal/wise and counterbalances my mom's spendthrift tendencies such that he fights the spending battles now so they will be ok in their (traditional) retirement.

[boy_bye]

Very cool topic! I love reading about folks who are reaping the rewards of their hard work and planning.

My in-laws are super inspiring, too -- I would call them frugal blackbelts for sure. They retired about age 60 and have been frugally living it up ever since. They never throw away a bite of food, and in fact take great pride in eating down their fridge to absolutely nothing when they go on holiday. They spend a month in Portugal every winter and travel to the US every other year or so, and they always find amazing deals. Their deep freezer is a marvel as is their garden, and they don't even own a clothes dryer, and they are amazing generous people who really seem to know how to live. I aspire to their level of badassity.

[ender]

My parents finance the shit out of everything.

My not-as-frugal-as-a-mustachian brother recently "joked" that they would have more money if they didn't do this...

[Villanelle]

My parents are pretty inspiring as well, and I feel lucky to have grown up observing their choices.
My dad has retired many times, but always seem to go back to work because he wants to.  My mom has been retired for years.  They have a positive cash flow, even when my dad isn't working, and there's no reason to believe that will ever change. 

They've never once carried a credit card balance, and they had a car payment once, for a few months when they thought it would be a good idea since they could use their money more efficiently elsewhere, but it drove them crazy and they paid it off after only a few payments.  They mostly drove modest used cars, even when we were the only people on the block without a luxury car int he driveway.  They made modest, solid choices and are reaping the rewards now. 

They waste little, do most things on their own (though they do have a twice a month housekeeper these days), grow some of their own food and tackle many projects that others outsource.  I respect the hell out of them.

[pachnik]

My parents are excellent with money.

They came to Canada in the early 1960's from Eastern Europe and have stayed true to their values of not wasting anything.  My mom still uses the water she rinses vegetables with to water her house plants.   As they put it once there was no opportunity to be wasteful where they came from.  In their culture, the husband earns the money and the wife works in the home, takes care of the kids and manages the money. 

They own a few rental properties and can afford to travel twice a year - Hawaii in winter for sure.  They also have a house cleaner these days and I am glad that they can afford it.