Great news for the FG ROI clan this week… my brother and his wife had their first baby! Big ups to the proud new parents!! 😉
So their new bundle of joy got me thinking about what kind of life I want to have when I have young one/s running around. I would like to be able to retire by the time my kids start grade school so that I can be an attentive and involved parent, but quitting work in 6 or 7 years is basically out of the question given our current trajectory (more on the math of early retirement here).
However, we should have a decent-sized nest egg by that point, and a second-best option would be to transition to a part-time career where it would be much easier to balance work and family life. The pay would be lower, but it would hopefully still be enough to cover our living expenses. It would also mean slowing down or completely stopping retirement contributions, but on the bright side, we wouldn’t have to touch our existing savings, which would continue to grow in the background.
To be clear, the obvious trade-off of retirement would be a longer waiting period until full retirement, but we’ll get to that below.