Would waiting 7 years, until 37 before my wife goes back to the workforce be feasible for our retirement plans, if our savings rate can hit 30% when the time comes? Would we be able to "catch up"?

If I am currently the sole bread winner with 1 kid and another one coming. My wife plans to return to the workforce only 7 years from now when the second kid is 7. We would be 37 years old then. I am currently living hand to mouth and have 2 years worth of expenses saved up and invested from the time before the kids came. Is there anyone who has been through a similar scenario? Is my current scenario a dangerous one (financially speaking)? Would waiting until 37 before my wife goes back to the workforce be feasible for our plans for retirement, if our savings rate can hit 30% when the time comes? Would we be able to "catch up"?
-A wondering 30 year old father

Retirement is like climbing a flight of stairs, its easier when you are younger.

In terms of catching up, there needs to be more information in terms of the the expected salary, and your retirement goals (Retirement Age, expenditure per month during retirement) Please do also keep in mind that expenditure for your children also increases with time due to inflation.

Suggestion is to keep a very tight budget on your expenditure and try to set aside money every month, however little it is, and make some financial sacrifices if required. Ensure that you are also adequately insured since you are the sole breadwinner of the household. Feel free to let me know should you like me to churn out some numbers for you! I may be contactable at [email protected]