I recently explored different ways to pay for my kids’ future college education and secure good financial aid. After some serious thought, I realized that going back to work is the best move for my family. The thought of coming up with $1.5 million for their college expenses in a few years was quite daunting. Even though returning to work feels like a step back after being part of the FIRE movement since 2009, times change, and action is needed.
Especially with young kids, expenses like tuition and healthcare are skyrocketing. Sitting and hoping that investments will cover such a hefty cost in the future just doesn’t sit right. So, I’ve chosen to take charge while I still have the opportunity.
Back in 2012 when I retired, my wife and I planned a simple life in Oahu on less than $100,000 a year. We were set to work on my grandfather’s fruit farm and live off what we cultivated. But life took a turn when our son arrived in 2017, followed by our daughter in 2019, changing everything, including our expenses.
I had promised to be a stay-at-home dad for five years, but the recent economic downturn hit our finances, including our kids’ 529 plans. To safeguard our financial stability, going back to work seems like the best choice. It will not only replenish our bank account but also provide a safety net against potential future financial challenges.
As much as I enjoyed being a stay-at-home parent, it’s time to return to work for financial security, peace of mind, and work-life balance. The dynamics change as kids grow, and it makes sense for one parent to resume working at some point.
Living in a relatively cramped house has its challenges, especially as the kids grow and space becomes limited. While buying a bigger home seemed tempting, it’s not the right move for us at the moment. Diversifying investments into real estate is a strategy that we are pursuing due to the changing market dynamics.
With the work landscape evolving post-pandemic, the idea of early retirement seems less appealing. Work flexibility has increased, making it easier to balance work and personal life. Going back to work now seems more manageable and meaningful than before.
Despite challenges with generating sufficient income as a writer, returning to conventional work or consulting part-time seems like a logical step. This shift towards active income complements our financial needs and offers a sense of purpose.
The need for structure and purpose has led me to consider consulting part-time while the kids are in school full
