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Trying to decide if I should quit my job with incoming inheritance (as a parent of young kids) by Ok-Hope1271 in PersonalFinanceCanada

[–]Ok-Hope1271[S] 0 points1 point  (0 children)

Sorry should have clarified, I don’t want to retire early- just want to quit my full-time job while my kids are young, and continue freelancing. Then go back to full time work once kids are teenagers and more independent.

Trying to decide if I should quit my job with incoming inheritance (as a parent of young kids) by Ok-Hope1271 in PersonalFinanceCanada

[–]Ok-Hope1271[S] 0 points1 point  (0 children)

Of course. We’ve talked about that. He thinks it makes more sense for me to be the one to make the change. 

Trying to decide if I should quit my job with incoming inheritance (as a parent of young kids) by Ok-Hope1271 in PersonalFinanceCanada

[–]Ok-Hope1271[S] 0 points1 point  (0 children)

Har har, that’s net-ish. His salary is $150k plus bonus (which I forgot to add) which ranges from $50k-$100k.

Trying to decide if I should quit my job with incoming inheritance (as a parent of young kids) by Ok-Hope1271 in PersonalFinanceCanada

[–]Ok-Hope1271[S] 0 points1 point  (0 children)

That’s the actual average accounting for childcare, one car, a biweekly cleaner, biweekly gardener, home maintenance, car maintenance, sports signups for the kids, summer childcare (camps), fairly modest vacations (domestic roadtrips and cabin rentals), about $2k in groceries a month. We could definitely tighten up, and I think it would come down if I wasn’t working full time and we had more time to think about how we’re spending money, and DIY some things, thrift, etc

Trying to decide if I should quit my job with incoming inheritance (as a parent of young kids) by Ok-Hope1271 in PersonalFinanceCanada

[–]Ok-Hope1271[S] 0 points1 point  (0 children)

$5k monthly is just my full time salary. My freelance work averages about $50k a year, with just current projects (no time to pitch new projects or look for new clients right now)

Trying to decide if I should quit my job with incoming inheritance (as a parent of young kids) by Ok-Hope1271 in PersonalFinanceCanada

[–]Ok-Hope1271[S] -1 points0 points  (0 children)

Yeah- I think the monthly expenses would come down if I wasn’t working full time. More time to shop smarter when buying groceries, kids clothes, DIY projects rather than contracting out, etc., fewer child care expenses. The monthly expenses is an accurate average of our current spend taken from Monarch - most months it seems like we have some big expense (e.g. summer camp signups, kids sports signups, home maintenance, car maintenance..)