I find it hard to maintain morale to stay in the career race and seriously looking at scaling back to either part time or departure all together as I have 2 girls (3.5 and 3 months) who I would much rather be with. plus our childcare asks for 35% raise (15 an hour) due to two kids now prompting my thoughts of doing the transition. Is my math right that I have nothing to worry about?
Me/DW - 37/38. DW works , makes 30k for part time work of which we save 18 in her 403b. loves the mission, likes the work, would like to continue part time 3 days a week.
No debts, paid of house and car. 1.7 million in assets earmarked for retirement between roth (300k, 700 taxable , and 700k in pretax 401/403b/IRAs). money set aside for kids education. background messages from our parents that they want to fund grandchildrens school as they put money into 529. likely an inheritance in low seven digits (which we hope not to get as long as possible as we do not need it and would much rather have them). financially I think we are all set, emotionally less so.
budget is 37k annually without childcare (which we would need very little of if I stay home in addition to DW working part time) of which 23k is 'essential' (taxes, utilities, food including eating out).
1.7 million times 3.5 percent (safer than safe) is 56k annually so why am I so scared of the change?
yes, I can work another 10 years, save another million dollars but does it worth it...