Lyric discussion by avanineglect 

Cover art for Keepin' Up With The Kids lyrics by Mindless Self Indulgence

And I really think this song is about how he could have done something with his life, but instead he settled down and raised a family and now he feels like he wasted his life. "Some other place, I could be real important." And now he's too old to bother with his kids- I'm too old to be keeping up with all the kids.

Almost sounds like the song is being sung to his would-be wife.