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Hi decath,

I actually have the about same objectives as you. I have to get 4 through their undergraduate degrees. So far, two have completed (although one is going to go to graduate school on his dime), one should finish a year from now and the last is a junior in HS, so we have 4-5 years with him (he wants to be a MD, but we only help with the undergraduate part). My plan requires that DW works 6 months past me, so all of the education loans will be paid off (her choice to pay half their education cost). The youngest should be done with his undergraduate degree the year we retire.

I won't be able to pay off the 1st mortgage by retirement, but the 2nd will be paid off by then. I figure we’ll be able to pay off the 1st about three years later (mainly to keep out of a higher tax bracket). The 4% SWR is also in my plans and I figure we'll be in the $60-70K range until the 1st drops off, eliminating about $14K.

Back to the point of your post. Having a mortgage and having dependent children adds to the complexity level of estimating a budget considerably.

Yes,that's my problem too. I have two still living at home (other 2 away at college), and I know our living expenses are higher because of it. The older one is working, saving to get a place of his own, and is paying to cover some of his living expenses (DW limits the amout he has to pay). My guess is that we could cut 20-30% of our monthly expenses when they no longer live at home, but I really have no idea.

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