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When our son leaves for college we will be in our early forties, young enough to enjoy a few decades of kid free time together. Challenges: Intellectually isolating, but the internet helps.
(I taught an on-line string theory course. ) Sometimes I feel like I'm not really contributing because I don't bring in much income, but my wife strongly protests this view, since I has made her life so much easier.
It is hard to get back up to speed after a decade out of research. Economics: Saved a ton of money on child care. Earned some money tutoring and teaching. Wife's career progressed more quickly. Since we've been living on one income for a decade, there isn't any panic for me to start pulling in a full income as I get back in. I can try different things and have been part-time on a couple of research grants.