I know I started this thread but I am a little amused at the tangent it has taken. First. Having looked at our own finances recently to make a long term plan. I could live really well in MI, or IA. But if I choose to stay in NYC, it takes a different kind of cash flow.

Also, if I live in NYC, and then want to have a home at the ocean, it could be in the Hamptoms at ridiculous cost of several million or try a more reasonable approach at the Jersey shore. Still, these things cost more money than a cottage in MI. I am just using MI as an example to make my point.

So whether someone makes 80K or 400K, the cash flow required to maintain a standard of living, even in a modest enough house for the family, depends on where you live.

As much as we think we are imbuing our children with these wonderful values we have posted about, how many of our children are doing exactly as we want. I wanted NYC, I love NYC, I fit in NYC. My brother is totally happy in the midwest, with a nice house on Lake Huron, goes fishing and doesn't worry if his passport is valid. Two kids, 2 years apart. A friend once told me that she would never have put us in the same room let alone in the same family.

The point being, our children may want to buy a Porsche or a Honda civic. Those are choices they will make when they are old enough. My point is what can I give my child so that if she really, really wants that Porsche, she has the options to pursue that life.

During my 20s, I spent my life traveling first class and staying in the best hotels in the world. It was fun. I spent a lot of money on my clothes and went to ridiculous parties.

I drive a Honda Element now because it is totally plastic inside and I can vaccum it in 15 minutes. I have child and dog and spend summers at the beach, that is a priority. But when I went to Egypt in April, I bought 2 rugs. Because I wanted to. I have that option.

To make sure my kid has that option, to give her kids the summers at the beach, the travel, the lessons, the time with them, means a career that gives her choices. She could choose to live in MI and require less cash flow, but I will not be making those choices for her. She gets to make them when she is grown. Hence, what tools do I give her to be able to make those choices?

And why I went with confidence as one of those tools. Then we went on the tangent of how much anyone person should save.

Ren