Trying to hit Coast FIRE before my industry (or motherhood) changes the plan
Hi everyone! I'm 30, and my partner and I are planning to start a family in the next year or two.
My goal is to Coast FIRE my half of our expenses. If I can keep working full-time for the next 5 to 7 years, I'll have a retirement nest egg plus a bridge fund to cover my half of our expenses through my 40s until retirement age. That way I could stop working entirely, and my nest egg would keep compounding while I live off the bridge.
During those 5-7 years, my husband has his own business and sets his own schedule. My work schedule is also fairly flexible, so we're hoping to figure out the day-to-day together. Still, it all feels very daunting.
I'm in tech marketing, an industry that's quickly being replaced by AI. I'm seeing more and more layoffs and hearing from folks in their 40s who can't find another job in the field. I think it would be very difficult to step away for a few years and then try to get back in closer to 40, so I really hoping to hit my Coast number in one stretch. The way I’ve been living currently and hope to continue living until I reach my cofire number, is fairly restricted, we have a budget for everything that we do, and keep track of it every month. It feels a little overwhelming at times, but I’m hoping that it will all be worth it.
My current job is remote and fairly low-stress, so I'm really hoping to keep it. But I have a lot of fear about the stability of my role in general, since I've been laid off multiple times in just the past handful of years.
This is constantly on my mind: What if I can't work for the next 5 to 7 years? What if I change my mind after I have a child? I find myself negotiating with myself and doing the math, trying to see how long I can push off starting a family so I can save as much as possible while my job is still stable.
I'm also afraid that once a baby is here, all my determination to hit Coast FIRE will go out the window and I'll want to stay home. It's almost like I believe the person I'll be after having a child will be very different from the person I am now.
I'm really torn on whether it's realistic to start a family in the next couple of years and still reach Coast FIRE. I've been stressed about this for months, and it feels like there's a lot of pressure on both sides.
I'm not looking for specific advice, but I'd love to hear from anyone who was working toward Coast FIRE while starting a family. How did you balance it, and did your goals change after kids?