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We would have owned a 3 bedroom home anyway. We would have had two used cars anyway. Food and healthcare??? Not a big deal. Lucky I guess in that they were two healthy kids. Young bodies quickly develop strong anybodies when exposed to normal bacteria in the world. I know of no one who has spent the amount of money talked about by FS to get a kid to adulthood. I mean, what the hell would you be doing doing with all that money for a kid? They need to be responsible for their spending habits, not live off Mom and Dad.

Having too cushy of a high school experience makes for a weak people.

Tips for Teaching Kids about Financial Independence | Independent Bankers Association of Texas

Neither wife nor I ever had really fancy high paying gigs. We raised two strong adults who are now off on their own too. These child rearing dollars seem way off base to me. I think they are thrown out there by Financial planners to scare folks into — guess what? Going to a Financial planner. I agree with FS. Without kids we would have a 3 bedroom house, with kids we had to go with a 4 bedroom.

I was fortunate enough to travel internationally with my family growing up and I want to provide that experience to my children. I believe that is valuable but it also costs thousands per year. I look forward to seeing how your thoughts on this evolve as a parent.

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One recurring problem I have with the FIRE community, or the more publicized stories, is they are almost always single people or couples with no kids. I know you plan, as do I, to provide a good future for your children which includes education. Even your baseline FI it would be tough. Providing a good life, after school activities, travel opportunities, college, etc. No problem with that. Then you should be able to retire pretty comfortably. How old are you? With some diligent saving, reasonable investment returns and some good performance at work that might be possible by So it would be hard for me to quit a highly lucrative job just as my earnings are really ramping and exchange it for the unknown of semi-retirement.

And I agree with your previous post, there is nothing wrong with folks who decide to not have kids. I just find reading your posts to be particularly interesting because you are having children or a child at least! We have a long way to go but I like how you placed parameters around the pyramid.

There should be a projected lifestyle in mind already when one decides to retire. I like the pyramid visual of different levels of financial independence. Most are both spouse working, some day care. College funds, food for teenage boys, sports equipment, musical instruments, kiddie activity travel all add up. I like the results provided by firecalc. Recommend everyone take a look at it, very easy to use and very flexible for more complex situations pensions, annuities, investment style, social security. I would put this closer this above Baseline at Basic income levels, all due to no debt.

You can really live well for little when the debt is gone and not sacrifice. Channeling Dave Ramsey, I guess. Yea, no taxes listed…adding taxes would incorrectly skew the picture, sold a rental with lots of tax owed, our investments generate significantly more taxable income than we use and I was not aggressive enough to find ways to reduce.

Will there be any in for married filing joint? I like it! The formula-lover in me wonders about doing something like this for defining these levels based on the avg income of cities. I like that idea of planning for options. I guess there is a correlation with cost of living and best places in the world to live e.

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Therefore, problem solved with Blockbuster FI! What do people do all week when they are retired, especially when retiring early? I retired early and struggled with being preoccupied after 3 months. It turned into boredom and slippery slope of troublesome lifestyle. I finally returned to my career part time after bucket list. I consider myself semi-retired and enjoy working more once I had balanced time off.

Reaching FINANCIAL FREEDOM in 7 Steps, with Joshua Sheats - Afford Anything Podcast (Ep. #39)

It surprised me. My partner enjoys working and is seeing how far she can go. I have improved, but have not arrived. I guess this is a good problem to have, but I just wanted you to know retirement is not always paradise, and semi-retirement may help make the transition.

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I moved to a remote tropical Island once FI. This idea was not spontaneous, and I had planted seeds for years working off and on as an expat in the medical field. I worked with royalty and even had the life changing experience of using a gold toilet. The toilet was not really life changing at all, and somehow sad. I also had opportunities to work with orphanages literally in the tree tops and cultures who thought their medical issues were caused by spirits.

There were amazing times, but I also suffered through cholera.

The remaining time I worked for years in high stress, high salary, with little time off. It made me sick. When I took the plunge it was paradise for about 3 months, but got bored of the lazy days, warm beaches, and amazing sunsets.

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Kind of like the big island once the nature wears off. I was drinking more. I know some of you may think I am an alcoholic, but I have never been, but I did not like that I was drinking more. I also got a dangerous reputation for having money. I never showed real wealth, but I tend to give money away especially for education and this caused some jealousy. The ladies started to have more interest in me, and the local men did not always appreciate it. An analogy could be a celebrity with money and time off. I am no celebrity. I eventually moved to a major city and enrolled in a language school, because I could not adjust to just being alive.

Two years later I returned to my career in the bay area after meeting my partner from Japan who is a well-known designer in those circles.

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You have never heard of her. Sometimes she designs hands bags for fashion industry and secret startups. I only mentioned her because I think the goal is to find something you enjoy and get paid for it. Why would she not want to work.

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Semi-retirement has been a better path for me. Thanks for sharing!