Most parents agree that saving money and raising kids are hard goals to meet simultaneously. Money that might otherwise go toward retirement or paying down the mortgage is instead spent on clothes, extra-curricular activities and higher education for the children. Once kids are out of the house, parents have an opportunity to get their savings back on track, especially their retirement savings.
Unfortunately, few parents take advantage of their increased discretionary ie in that way. According to a recent study by Boston College, “empty-nesters” increase their spending by an average of 51 percent in the first few years after kids leave the house. Though some eventually reign in their spending and begin saving more, many get used to the higher standard of living and never return to lower spending levels. Thi
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