Pffft! Having a family doesn't have to be expensive nor need get in the way of having a life.
I'd not change having kids for being able to not work. The trade off is just not there – for us.
Yet, as long as one lives within their means and socks away a lot they can still retire within a good range of years.
See Ben, you could have had a family…if you started in your early 20's! One child and still lived frugally. ;-)
The problem is that many with families buy big expensive houses and then go into further debt putting their kids through college later…..you just have to avoid that. And hey, 47 is young for men. You still have time to have a Mini Me. Lol!
PS: And I might add that getting married and having kids does not mean a person puts less into savings. That only happens if one spends money. For example: we are having child #2. Am I building a nursery for him? No….babies don't "need" it. I will spend a couple hundred on things and call it a day. Same when we got married, we didn't go into debt. We spent around $1,500 for everything and still had quite the party for our friends. One can have a good life, a family and a wife and still live within budget. If everyone is on the same page!