This post originally appeared onThe Simple Dollar.
Thats a pretty big change, but it reflects the reality and the expense of having children.
Unless youre neglectful, children come with a lot of expenses.
Youre feeding and clothing and housing a child for eighteen years.
Youre also likely to buy the child gifts and treats at various points.
Theres also the impact that having a child has on your career.
Youre going to wind up taking time off for your child.
Thats not to say that having a child isnt rewarding.
However, those rewards are very personal in nature and dont show up in a financial balance sheet.
Take that into consideration when making either decision.
We drive the old cars on our block, in other words.
The same goes for the adults in each house, too.
The thing is, I could get really worked up over this.
How does that really fulfill what I want out of life?
Even though I have that perspective, there are still times when I feel pangs of jealousy.
Mastering this idea is harder than it sounds, but its essential for early retirement.
Often, people consume far more little treats than they think they do.
Its a difficult shift, but a necessary one.
Dont let such criticism bother you, but be aware that it will come.
Know how to handle it politely.
Youre done working at, say, age 50 or so.
What are you going to do then?
You suddenly have tons of free time.
How will you fill it?
Without some kind of a plan for the years after retiring, its kind of fruitless to retire early.
The day when I walk away from work isnt a day when I become idle.
Its a day when I leap into new plans.
What are your plans?
And, if you dont have those plans, why are you retiring early?
Final Thoughts
Early retirement isnt an easy path.
Its one thats fraught with temptations and distractions and big questions about why youre even doing this.
Image byGary Watersvia Getty.
