SINGAPORE: FIRE, short for “Financial Independence, Retire Early,” is a lifestyle movement centred around aggressive saving and investing so people can retire young and escape the rat race. But for one new father, parenthood has made him realise that some things matter more than retiring early.
On Sunday (May 17), the 30-year-old man shared on the r/singaporefi subreddit that since welcoming a baby with his wife, his priorities have shifted significantly.
He said that instead of putting more money into savings and investments, a large share of their income now goes towards baby-related expenses, including milk powder, diapers, daily necessities, and future infant care costs, which he estimates could reach around S$900 a month.
He added that before becoming a parent, he was very focused on his career. He regularly worked overtime and went to networking events.
These days, however, things look very different.
Instead of working long hours at the office, he now makes it a point to clock out on time so he can head home and spend more time with his wife and baby.
While he admitted that part of him worries about how parenthood may slow down his FIRE journey, he said the trade-off has been more than worth it.
“The baby has brought us so much happiness and gelled our parents/in-laws together,” he wrote. “I once heard a friend say that each kid delays the parents’ retirement by 10 years. Of course, it’s just a generic statement… [but] my family is okay managing these increases.”
He ended his post by inviting others in similar situations to share their own experiences.
“I would love to hear your opinion and views on how having children has changed your FIRE horizon and the ways you try to manage it. Could be a change in your own lifestyle or even just a change in perception.”
“No change at all. I hit my original date..”
Many Singaporean Reddit users shared similar views, saying that while children do increase expenses, they also bring a lot of joy, purpose, and fulfilment that make the delay in retirement goals feel worth it.
One user said, “Father of two, yes, they do cost a fair bit, but I think I would have probably spent the money on other stuff if I didn’t have kids anyway. Wouldn’t trade it for anything in the world, even if it means retiring earlier. Children are a blessing and joy (most of the time).”
Another commented, “Aimed to FIRE at 40 even after having two kids, but recently realising I want to spend more, enjoy life, and provide certain experiences to my kids. So push back to 45.”
“I did consider not having kids just so that I could FIRE early or live more comfortably. But for me (FOR ME), I’ll find it less meaningful. My kids actually push me to be more productive and efficient at work. They also add a lot to my purpose in life.”
A third added, “No change at all. I hit my original date at the same time as planned. We have 2 kids. The monthly expenses are high, but I noticed and believe that even for couples who don’t have kids, they will find some way to spend that money and won’t FIRE any earlier.”
In other news, a jobseeker was left shocked after what he thought was an interview for an admin position allegedly turned into a recruitment pitch for an insurance role and ended with the interviewer scolding him for not being “driven” enough.
Sharing his experience on the r/singaporejobs subreddit, the man said he had originally applied for an “admin and operations” executive position through JobStreet.
Read more: ‘Younger generations have no drive’: Interviewer lashes out after jobseeker rejects insurance role
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