Plan to retire early- am I crazy - Money Makeover

[ClubMan]

Add in 3rd level fees

A bonkers (in my opinion - even if I/my son benefit from it) aspect of the SUSI grant system as it stands is that the financial assessment looks only at income (for the year prior to the academic year) and ignores other, potentially significant, means/assets - and even then the income thresholds are quite generous when determining eligibility for full fees/student contribution and possibly also a maintenance grants.

Undergraduate Income Thresholds and Grant Award Rates

What are the SUSI grant award rates and income thresholds for Undergraduate students

www.susi.ie

 

[Premos]

What kind of retirement do you want? 55 is young to retire. Do you want to travel a lot and see places? Or are you intending to mainly stay at home and keep costs down?

One of the major issue I see with the plan is the child... I don't know the age involved but if you still have a young teenager by the time you retire, that will seriously what you might be able to do in terms of travel, break away...

 

[ClubMan]

One of the major issue I see with the plan is the child... I don't know the age involved

I took this to mean one child aged one but it's certainly ambiguous.

Ages of children:
One

 

[Premos]

I took this to mean one child aged one but it's certainly ambiguous.

Yes I had noticed that too but also spoke about private school fees.

 

[dublinire]

Sorry, my bad, what I means is one kid and age is 14 year old.hopefully kid will be independent in my retirement age.

Also planning to sell the primary residence at the retirement age(55) where currently staying and move back to investment property and stay in that house. Planning to stay 7-8 months in ireland and 4 months in India. Planning to put sales money to somewhere in the investment.

 

[Bronte]

Not mentioned, and it could be relevant, but sadly they must be considered, divorce, death, illness.