Save for my future, or spend while the kids are young
Hey all,
I am struggling to figure out what I want to do with excess cash. My wife and I will be welcoming our second kid in December, and as much as I want to retire early, the thought of my kids growing up doing nothing sounds so boring. Once our last car loan is paid off we will be debt free. No house yet, but that's where the conundrum comes up. We will have about $1500/month in excess cash to do whatever we want with. Are there any out there that spent all their money while their kids were young to have a good time while there was time? As well as my wife and I still being young to enjoy stuff. We have about 180k in our retirement accounts, so technically using the 7 year rule we would be at 2.5million around age 60. That feels like a lot right now. Just looking for some advice. I would hate to miss out on the world to retire at 50 and my kids are teenagers by then.