Childcare costs and financial independence

Childcare Costs – Balancing Finances & Family When Working Toward Financial Independence

As parents, it’s easy to meet single professionals in their late 20’s who are well on their way to an early retirement (or already living the dream) and think two things: “Darn, I wish we would have started earlier” and, “But they don’t have kids!” FIRE envy aside, one big question working families with kids must tackle is how to deal with childcare expenses.

If we both work full-time, how can we minimize childcare expenses? Should one of us cut back to part-time or fully stay at home? What other sources of income can we create to offset these costs? What is best for our kids and our family right now?

These are all questions we’ve asked and over the years, we’ve tried quite a few different arrangements with work and childcare to find the right balance between finances and what is best for our family.

Here’s our experience and tips for managing costs. Continue reading

Permission to Let Go of Things That No Longer Serve You

For the past year, I’ve been practicing hot yoga on a (nearly) daily basis. It’s where I find my dose of quiet, focus, energy, and strength. It’s my oasis away from the needs of everyone else. It’s where I find one hour to focus on only me.

One of my favorite mantras offered during practice is to let go of things that no longer serve you.

I’ve been thinking about this a lot in reference to my yoga practice, but also in my daily life. It offers a framework to think about what we let into our life, what we keep in our life, and what we can let go of.

It aligns quite nicely with a minimalist and FIRE mindset. How? Why? Continue reading

Our Family’s Path to Financial Independence

Father and Son Walking Together Holding Hands

When we tell family, friends, and colleagues we want to retire in less than ten years we get a mix of responses – looks of confusion, positive support (sometimes followed by a list of objections), and curiosity.

In fact, if you told me two years ago we could save enough to be financially independent in ten years I probably would have reacted this way, too.

So, how did we get on a path to financial independence (FI)?
Continue reading