You are right, but it's not always a choice between time and money. When you have children they need all kind of things that costs momey and also a lot of time to raise them and help them on their way. What's important is that you can limit yourself and keep in mind what's really important.
I choose to stop working at 62 to spend time with my husband in France. Less money than when I stayed working till 66, but what a wonderful time we have here in France. I also have time (when in Holland) to be with my children and grandchildren (if they have time!!!). So its important to stop working when you are still in good health and can do things you like and spend time with the ones you love.