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Is time with my kids worth $1M?

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  • #46
    Hopefully the fisherman's plan A has him saving 20% towards retirement.

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    • #47
      My opinion is that depends on your current household income. If you guys are living comfortably, I wouldn't give up on the extra time you have with your kids. However, if you personally prefer to work more and it makes you a happier person, I say go for it.

      My husband and I both work at very demanding jobs but we love what we do. I believe it's important that a healthy family has not only happy kids, but happy parents.

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      • #48
        Overall if you can afford it and you'd be able to maintain your lifestyle I'd say more time with your kiddos is worth it. If you work and make more money you can buy a lot of things, but you can't buy more time. Everyone's work-life balance is going to be struck at a different level, but when I think of my colleagues with the best family lives they tend to be the ones who have chosen to limit their roles in the department and possibly be part time. The people who are always stuck in meetings or operating late have a greater tendency to be divorced or estranged from their kids. Like I said this is different for everybody and it's important to be satisfied with your career, but this is just what it seems like from what I've seen.

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        • #49
          Kids are really important. They are the most important thing in my life. however they are not the only important thing in my life. if they were the only important thing in my life I know I would be highly disappointed when I am no longer the most important thing in their life. It is imperative to have your own interests. Be that your spouse, career, hobbies etc. Striking a balance is key. I would not abandon my career for the sole point of taking care of children when I could have both.

          ​​​​​​

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          • #50
            If your spouse makes significantly more than you do, the extra 30k per year in foregone savings is not going to make a huge difference in the future. It might mean working a bit longer, but those are the choices we make when having kids. Maybe cut some unnecessary expenses elsewhere so you have enough time with your children.

            In our family we always had one half of us more focused on home. The doctor worked and the lawyer stayed home with the kids for many years until the children were in high school. It put a damper on the legal career, but that was a joint decision we made and we were both happy with it. We are on the later end of those decisions now and we have more than enough to retire, so it worked out just fine for us.

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            • #51
              It's worth even more than that. It's a tough decision I understand though.

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