FIRE and children - is it possible even possible?
I have 3 young kids. 2 in nursery and the oldest is at school.
Every month the childcare costs come out and I just think what that extra 3k could do to paying off the mortgage or paying into a pension.
I know it’s not forever. But honestly I’ve been paying for childcare since 2017 and it doesn’t feel like it will ever end (realistically the nursery bills will end in 2026) .
Some small things I have done to help progress to FiRE is 1. pay into pension at company match 2. Increase payments in line with % increase in pay. 3. Bonus goes into pension
All the above designed to keep me under £100k threshold
Aside from that it’s a long hard slog until retirement. I know I will not be retiring early since I’m already 40. But I would love the financial independence.