How did we discover financial independence and why was it so important to us?
It was August, 2015 and we were enjoying life as much as we could in our current environment and circumstances. We had a perfect toddler who just turned 18 months and we found out we were expecting another miracle in 8 months. Our life was busy chasing around a little boy and it was going to get busier. Weekends were filled with family bike rides to the park or beach and playing in the yard. We loved every minute of it!
Both of us had successful careers and could not justify staying home during the week. So like the majority of working parents, we decided to send our child to a day care centre. The day care centre was great and our son loved it. He was adapting very well. We would hear all about new things he was doing and learning every day. This was a crucial time in his development and the educators were observing him do things for the first time on a daily basis. This is a reality that most parents have a difficult time accepting.
One option we had was that one parent not work and raise the children. This way, one parent would be able to see all the great things our kids learn. They would get to really experience the joys of watching them grow up full time. The problem is that only ONE of the parents gets to enjoy this. The family needs an income to operate. So the other parent would have to work full time. Additionally, with only one income, savings would probably be smaller and would result in a longer working life for the working parent. This scenario was not an option for us. As much as we wanted to spend time with our children full time, we also wanted to spend more time with each other.
We were always very good at savings and loved the idea of retiring early… Then we discovered Mr. Money Mustache and the whole concept of financial independence. His ideas on simple living and how a family could really live happily on much less inspired us. We both read every post he ever wrote and we got very ambitious. We gave ourselves 5 years to prepare to quit our jobs and become full time parents… At the time, this would have us starting our plan in 2020. We are now on track to reach our goals by 2018 or 2019.
The present: We get to spend less than 3 waking hours per day during the week with our kids as we bring them to daycare.
The future: We want to reach financial independence and be able to spend most of everyday with our kids until they start school. Even when they go to school we will spend before and after school hours with them as well as all summers and breaks.
We will have no obligation to a full time career and will only work on projects that we are passionate about. We will only take on work or projects that allow us to spend all our time with our kids and that allow us the flexibility to take extended vacations and pick them up from school everyday. My wife and I both like our jobs. However like most people, it’s not what we would choose doing when we wake up on any given morning…
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