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[quote=Anonymous]We were in a similar situation a year ago. Here are some things that helped.

- I studied all of our expenses extensively (my husband might say obsessively) but it helped me feel less anxious. I would chart out what we absolutely had to pay (mortgage, average monthly groceries) , what we would really like to pay for but could get rid of in an emergency (like netflix, reduced cleaner to once a month but could get rid of completely, etc), and what we should break the habit of spending on right away (I.e. going out to eat so much).

- I did a lot of retirement scenario calculating. As someone said earlier in the thread, you will be just fine on current retirement because you have a lot and it will compound. Kids 529s look healthy too. Probably not enough to flat out pay for full private for all at the rate tuition currently inflates, but kids can take loans/go in state.

- We lived at the new, lower salary for many months before actually taking the plunge to a new job. We saved a lot during that time which we used to bulk up an extra emergency fund.

I do think that if this new job/life really sticks for your husband, you might want to consider some part time work when the kids are a little more independent. It need not be preschool teacher.  Pulling in even $20k a year (if the work is flexible work) could be a nice boost to the family finances. But I don’t think it has to be right away.

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