Many prospective early retirees underestimate the financial implications of having and raising children and the potential ongoing nature of that commitment.
Before the first cry or dirty diaper, the cost of even creating children might be something that is unexpected. For many couples, all it takes is a free weekend and a bottle of “three buck chuck”.
As your child grows, so will the financial outlay. Toys, clothes, activities, and entertainment seem to cost more with age. Smaller kids, smaller expenses; bigger kids, bigger expenses.
You might be exhausted and depressed by now, but your dear child is now 21, college educated, and a responsible adult. A somewhat delayed early retirement is imminent. But put away the champagne glasses because there is more.
Some expenses are luxuries, while some are necessities. Either way, a lot of these youngsters seem to need parental financial help well into adulthood.