People with multiple kids are probably the ones who are really looking to FIRE but, paradoxically, aren't quite able to due to the pressure of meeting current demands (mostly money, but also time) and not saving/investing quickly enough.

A truly Catch 22 situation.

Wanted to see if there is anyone here who has FIREd, or close to, with multiple kids. Know anyone who has done it from such a situation?

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3 kids and hoping to FIRE by 50 in 8 years (first one will be off to college at that point). Our savings rate isn’t what it used to be but we have a good deal of passive income ($200k) on top of our salaries which is helpful.

EY the first six months were not passive. I was still figuring everything out, trying to find the right cleaner and a reliable Handyman. But once I got into a rhythm with a good support team, now I don’t spend more than three hours a week on it.

Kids are going to have to make it themselves. I'm going to retire once I hit $4.8M but kids aren't going to see a dollar off that. Gets donated to charity when I die.

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Love the specificity of 4.8m! Any particular reason (other than the obvious one of swr and yearly expenses)?

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Honestly no. Especially friends in HCOL cities who wanted to FIRE prior to kids. Kids through that out the window. The costs are insane.

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2 kids. Retired at 56. Could have done it at 50 but it would have been more risky.

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What are the “toys”

36 with 2 toddlers.

$2.5M NW right now (but dropping every day). We are plowing $200k into savings every year. On track to FIRE at 45 with $6.5M

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I'd love to but costs are crazy. Bigger house. Child care. Insurance. 2 cars because 2 jobs + lots of kids + activities.

Without kids we'd have a small home, 1 car if any, so much more in retirement.

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I’ve known people who have retired in their 40’s and then had kids (purposely had kids late in order to first FIRE).

I personally don’t want to be a stay at home parent so figure I might as well work until the kids are off to college. That puts me at retiring by 55 which I still consider early.

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Cool. Did they freeze embryos?

$10M by 45 should be enough to FIRE with 2 kids, I hope

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That’s my goal but will take me to 50. At $4M now.

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We're 37 with 2 kids and hoping to retire by 55. Diversifying with real estate and hoping the market doesn't shit out.

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Planning to FIRE at 40 with 2 kids. Originally planning for $10M but now I’m thinking I’m good with $6-7M ;-).

Currently at $5.1M at 36. Would’ve been higher but am down $1M due to economy and stock markets this year. Hopefully it’ll recover by the time I hit 40!

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What are you considering as target of $6-7M networth? Is it only brokerage+retirement+cash or does it include your home equity and rentals too?

Fire isn’t traditionally linked to having a lot of kids. & even here most people are talking about only one or two.
Why do you think those with many kids want to FIRE more than others?

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I'm at one, hoping for 4. Have a long way to go!

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