I had my first child last week, but before that I was the child of 2 other people who invested everything into me. I was the husband of a women who invested in me. I was the friend of many who invested in me. I was a colleague to those who invested in me. But yet, still I road....yet the risk vs reward ratio was acceptable.
Before my child I still road, and not because it was a fun high risk hobby, but because it was my commuter that allowed me to establish the lifestyle I have now. It allows me the freedom to zip around any place in the city and park for free and save loads of commuting time. It allows me to not lose whole chunks of my life to the daily slog, but inject some enjoyment into it. It allows me to have a piece of my own life, when so much of what I do is also for others (8 hours work, 8 hours sleep, 1 to 2 hours grooming, prepping for work, laundry, cleaning etc, 1 hour cooking and eating, 1 hour helping with homework / playing with step daughter, etc etc....you get the idea.) The last thing I want is to increase my commute to 3 hours on the life draining TTC when I could have an invigorating 1 hour daily commute, or be paying $400/mo for parking!!!!
On the weekends I mostly drive the cage to accommodate everyone else in my life, so we can all enjoy time together. I rarely ride as a hobby on the weekend while the bike gathers dust otherwise. The bike is far too integrated into my character and life...it is far too essential to let it collect dust.
With my new born I will continue to ride, all be it with more wisdom and restraint. But when I die I die....that's why we have life insurance.
I would say the more pressing matter, before you have any children, is say your prayers or do what ever you feel you need to do before you meet with God, or at least finally answer that age old question!
PS, my advice....don't do any risky activities with the wife after you have children. Try and keep at least one parent alive if you partake in risky activities. Bungy jump, hang glide, or sky dive one at a time for example...and don't ride 2 up.