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Confused about dryer sheets
Hi everyone,
I am 32 y.o. a Marketing Analyst in the Automotive Industry and I have a house with 8 more yrs to go on my mortgage. I am single and no kids. I have no savings, as most of my $ goes to my mortgage, prop. tax, hot cars, and hot dates.
My Stepfather 70 y.o. no kids, planning to give me his 500k house in CA in the next 8-10 yrs. The house is paid-off, monthly property tax is about $350.
Now, I am thinking about retiring once my house is pay off in 8 yrs. My retirement income would consisits of rental income from both of the houses (approx. $2700 after-prop.tax), and I will be traveling and living aboard like I have always dream of.
There is the catch, if I do this I will lose my current job which I make about $95/yr, also I will lose health and dental care. Not to mention, stop adding money to my 401k/SS.
Here is my question, I always dream of traveling and living aboard, and it is very likely I will be max-out at 100k to 120k/yr in my current profession (don't think I have the background to become corp exec). Will anyone willing go with this insane idea and giving up everything to travel and live aboard?
I am 32 y.o. a Marketing Analyst in the Automotive Industry and I have a house with 8 more yrs to go on my mortgage. I am single and no kids. I have no savings, as most of my $ goes to my mortgage, prop. tax, hot cars, and hot dates.
My Stepfather 70 y.o. no kids, planning to give me his 500k house in CA in the next 8-10 yrs. The house is paid-off, monthly property tax is about $350.
Now, I am thinking about retiring once my house is pay off in 8 yrs. My retirement income would consisits of rental income from both of the houses (approx. $2700 after-prop.tax), and I will be traveling and living aboard like I have always dream of.
There is the catch, if I do this I will lose my current job which I make about $95/yr, also I will lose health and dental care. Not to mention, stop adding money to my 401k/SS.
Here is my question, I always dream of traveling and living aboard, and it is very likely I will be max-out at 100k to 120k/yr in my current profession (don't think I have the background to become corp exec). Will anyone willing go with this insane idea and giving up everything to travel and live aboard?