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Reply to "Is FIRE next to impossible with children?"
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[quote=Anonymous]We will probably FIRE with two kids from W-2 incomes by the time we are 50 (so “early”ish?) Had 200k HHI until about two years ago when it jumped to 500k. The income jump coincided with us having kids. We were already maxing out retirement accounts before the jump. Increase allowed us to pay for daycare and used the first 1.5 years of extra to get 100k in each 529 (kids are under 3 so compounding should do most of the work but are still doing 4k/year). We also paid down the mortgage enough to go from 30years to 20 years (when the youngest will be in college.) Now saving the “jump” in income in maxing mega back door and brokerage account. Yes kids are expensive as they get older, but we are spending 50k on daycare per year now. As long as we don’t go private, I don’t think our kid expenses will go up. [/quote]
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