CoastFIRE with a baby

38yo couple in VHCOL area. We just had a baby and hope to have a second in the next two years.

I have always been very driven and an overachiever, but as I return to work from maternity leave, as many other young parents I know, the priorities have shifted, and work has lost its appeal for joy, identify and recognition (or ego, really). Lo and behold I found this subreddit and it felt like a light bulb went off. So i checked our numbers:

Total investments not counting home equity: 2.4M

• Taxable brokerage investments: 1.2M
• Retirement investments: 1.2M
• Emergency savings: 30k

Total spending: 150k/yr before kids

• 60k living expense
• 90k on housing: mortgage, property tax, insurance, and a moderate house fund for maintenance
• 40k child care starting next year, probably averaging 50k-60k for the next 5-6 years if we have a second.

(HH income was about 600k gross, with a ~450k base. As a reference point, we put away almost 200k in new investments last year.)

With an estimated 200k/yr spending for the foreseeable future, it's definitely not an easy coast. But it feels reassuring that even if we don't add any further investments, we're on track to retire when we are 50 or earlier, depending on the assumptions. It really took some pressure off my shoulder (I contribute to 2/3 of the HH income).

My mindset has now shifted to figuring out what brings the most joy to me while working and raising kids, and how I want my life to look like when we do retire, instead of continuing to grind in the corporate environment and reaching for the next promotion. I had a realization yesterday that maybe I DON'T want that next promotion anymore - sure, it will bring more income, but the stress might not be worth it.

I know we are very lucky given our circumstances, and we worked hard in the last decade to get to where we are. With a newborn changing my perspectives, I feel like I am having a second life. Grateful to have this community to learn more as we embark on this journey.