Your Lifestyle and Your children's Lifestyle may be completely different and may have serious impact towards your own Retirement Financial Planning.
You can be very cautious and track your expenses carefully and save as much as possible; but sadly and true fact of life, your children's lifestyle may seriously counter or slow down your effort towards accumulating wealth for the retirement fund. Your children may find it difficult to live your kind of lifestyle and you may have no choice as most parents are willing to spend more on their children's lifestyle out of their love for children.
So do consider your children's lifestyle when doing your own Retirement Financial Planning and make more provisions for higher expenses till they start making a living for themselves.
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