The Unplanned Journey: Grandparents Raising Grandchildren in Retirement
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 4 March 2024
⏱️ 41 minutes
🧾️ Download transcript
Summary
Description: In todays episode, we talk about the unexpected turns retirement can take, particularly when individuals find themselves in the role of raising a grandchild. This shift in family dynamics can significantly alter one's retirement experience, extending far beyond the obvious impact on travel plans. We'll explore the various aspects that come into play, including the financial ramifications and the adjustments needed in estate planning
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Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:10.6 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.3 | I'm your host, Devin. |
| 0:14.2 | Join today by my co-host, John Ross. |
| 0:17.4 | Howdy. |
| 0:27.6 | Yeah. Ron Ross. Howdy. John, you and I have both raised kids. We have. |
| 0:28.6 | Sort of successfully. |
| 0:29.6 | I still have kids at home. |
| 0:30.6 | Well, I still have one. |
| 0:31.6 | Well, one and a half. |
| 0:32.6 | One's at college, but she's back still needs us, and then we still have one fully in |
| 0:36.6 | home in eighth grade. |
| 0:37.6 | So she'll be there for a while. |
| 0:54.9 | Yeah, yeah. No, I'm an empty nest. But you know, it's funny. So we have three kids. I know that you and Lisa have four. And when you raise kids, you find that, man, they all turn out different. Absolutely. They're all exposed to the same environment. And yet they turn out differently. Yeah, you know, I have often made the joke. |
| 0:57.2 | You remember the movie The Breakfast Club? |
| 0:57.2 | Somewhat. Absolutely. They're all exposed to the same environment, and yet they turn out differently. Yeah, you know, I have often made the joke. You remember the movie The Breakfast Club? |
| 1:09.8 | Somewhat, yes. And so if you look at my household, then you compare that to the breakfast club, right? You had the Molly Ringwald character, which was the high school princess, right? Well, that's kind of my oldest daughter. |
| 1:44.8 | Yeah. You had the Emilio Estevez character. He was the jock, right? Yeah. Well, that was my second oldest daughter. She was the jock. Yeah. You had the, what's his, Anthony Michael Hall character? He was the nerd. Mm-hmm. And that was our boy, the now material science engineer. Yes. Right? And then you had, and I can't remember her name, but you had the weird old girl, right? Yeah. And that's my youngest daughter, who's the dog groomer. Yes. You know, if I'd had one more kid, I'd had a criminal. And I would have had, I would have fully done the breakfast club. I would have had the entire cast. What's funny is, is I've told that, I've told that several times. And my wife is |
| 1:50.0 | quick to remind me, well, you realize that makes you the annoying principle. You know, so, okay, |
| 1:57.0 | probably so. Yeah. Yeah, it is interesting to see how things turn out in adulthood. |
| 2:02.0 | And sometimes they don't turn out like we want them to or like we think they will. |
... |
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