Kids and Fire: How Having Children Affected People's FIRE Goals
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When I first started thinking about having kids, there was i thing that I couldn't wrap my caput effectually. How practise kids and fire go together? I idea near how having kids would affect my own fire goals, but that wasn't plenty. I wanted to know how everyone else was planning on achieving financial independence with kids!
Bloggers speak out: Kids and Fire
First, I reached out to the blogging world. I knew my blogging friends would have awesome communication, and they didn't disappoint!
Tread Lightly, Retire Early on
For some people, having kids is the catalyst for pursing financial independence. Tread Lightly, Retire Early discusses how having her first child and trying to "do it all" (as women are told nosotros should) was exhausting, so something had to give. She was able to cut down to role fourth dimension work and "live similar she was financially contained". Find out how she did it!
Retiring To the Road
Katie from Retiring to the Road wrote an astonishing guest post well-nigh how she is able to attain fire with kids at Millennial Money Human being. Her and her married man have "learned to enjoy the elementary pleasures, instead of merely the textile BS that screams at u.s.a. all day long" which I think is only fantastic. They are too raising their kids to value quality fourth dimension over material items. I'm loving her program and her communication. Read the full story here.
Median Millionaire
Sam from Median Millionaire also has some wise words when information technology comes to having children. According to Sam, "Children add to our riches, though it may take us a bit longer to retire". He also outlines ways to save money while raising children, which is super helpful for someone wondering how it can be done. Find out his full thoughts on kids and burn here.
Fiscal Samurai
I also establish an amazing podcast on the subject. The Fire Drill Podcast interviewed Sam from Financial Samurai well-nigh the timing of kids and Burn down, and he brought upwardly some very interesting points. He admitted that kids can mess up your fiscal plans, but he too said that you can always readjust your finances, only you can't always have kids. That kind of makes me worry that maybe I waited also long to figure out that want kids! Heed to the full interview hither.
Kids and Fire: Non-Bloggers
But I wanted to hear from non-bloggers besides! So of course, like any good journalist, I went to Reddit. I went to the FireyFemmes sub-Reddit, which is dedicated to women in pursuit of financial independence. This is the best place to get advice on all topics surrounding financial freedom from real women who are pursuing it. I got some amazing honest responses to my question there (and if anyone from there is reading this, thank yous!)
Redditors Speak out
Showtime, pretty much anybody agreed that kids can be expensive (peculiarly childcare!). 1 Redditor said she was paying well-nigh three m dollars a month in childcare expenses lone! That tin can really slow down a FIRE plan. Most parents had already included the cost of children into their plans though, and many chose the stay at home road to reduce costs. Information technology was a relief to see that there were so many unlike ideas and options available for childcare and to mitigate the other expenses associated with raising children.
Some parents did admit that I might not be able to reach some of my other goals if I decide to accept kids. Some children merely don't travel well. Redditor ParcelBobo explained that her kid screams during motorcar rides, and cipher she does volition calm her downwardly. I do have to accept that fact that my children'southward personalities will play a function in how my time to come unfolds, and I'one thousand extremely grateful to ParcelBobo for the honesty.
Many parents timed their early retirements with having kids. A lot of the answers in the thread discussed leaving piece of work or dropping to function time when the kids reached a certain age. This gave parents the opportunity to spend more quality time with their kids. It also meant saving and paying off debt prior to having kids.
My Biggest Inspiration
The thing that stuck out with me the most was the way most people idea about having kids. Nobody in the thread said they avoided having kids to reach financial independence. In fact, for most people, the entire reason for pursing financial independence was their children! Merely what struck me well-nigh of all is the fact that virtually people'southward life plans included children! I know, this is probably normal for most people, merely it was strange to me!
My favorite answer was from Redditor Sugoi2, who said that one of her life goals was to have a kid. The entire betoken of pursuing financial independence is to live the life yous want, and having kids is function of living the life I want. Sugoi2 fabricated it and so piece of cake to empathize: I don't need to run across information technology as a negative, similar if I have kids my goals will be pushed dorsum. Having kids is the goal! Thanks Sugoi2 if y'all are reading this, your answer was truly an inspiration to me.
Financial Independence and Kids can become together!
Every bit you lot tin can run across, there are tons of paths to fiscal independence that include having children. Most of them circumduct around having children! I'm actually glad that I asked this question and did this research. Hearing other people'south stories, struggles, and triumphs really re-affirmed my decision to take kids. Knowing that kids and Burn really tin co-be makes information technology so much easier!! And if you accept a story about how having kids fit into your goals of financial independence, I'd love to read nearly it in the comments!
Source: https://partnersinfire.com/finance/kids-and-fire-how-having-children-affected-peoples-fire-goals/
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