I am 27 and have long sought a stress free life by 35. Currently my main source of income is an online retail business, I make good money, but I don't enjoy the work. I have been steadily moving towards shifting tasks to employees, but I am not great at giving up control over aspects of the business I feel need my personal touch. However, I am improving. Part of my plan is to sell the business or be virtually hands off by 35.
What do I hope to have at age 35? NO STRESS and Passion, I don't want to look back when I am older and wish I had done things differently. My vision to fulfill this goal would be to work in a business I own, with the option to not be there, but likely work 20-30 hours a week because I am doing something that fulfills me. I would like to have enough saved up to where goal #1 is not to make as much money as possible, but rather to derive joy from accomplishment and providing a product/service that truly gives value to my customers.
Is this retirement? Not sure, but that's what I like to call it. I suppose I am to young to have visions of wanting a cliche retirement. But the reason I do like to call it retirement is because regardless of what I end up doing, I would like to have saved enough to retire.
I hope to learn from people on the forum who have "been there done that."
I will be looking for info to help me figure out how much is enough, and a huge part of that will be really digging into how much income I realistically need, Instead of just assuming a couple million will be enough.
Would also like to better understand fixed income options, how much inflation will really cost me, places to live when not tied down to a certain location and strategies people use to enjoy retirement efficiently.
My name is peter and just wanted to introduce myself, realize this may be somewhat ambiguous but I want to dig in some more before I start asking specific questions.
What do I hope to have at age 35? NO STRESS and Passion, I don't want to look back when I am older and wish I had done things differently. My vision to fulfill this goal would be to work in a business I own, with the option to not be there, but likely work 20-30 hours a week because I am doing something that fulfills me. I would like to have enough saved up to where goal #1 is not to make as much money as possible, but rather to derive joy from accomplishment and providing a product/service that truly gives value to my customers.
Is this retirement? Not sure, but that's what I like to call it. I suppose I am to young to have visions of wanting a cliche retirement. But the reason I do like to call it retirement is because regardless of what I end up doing, I would like to have saved enough to retire.
I hope to learn from people on the forum who have "been there done that."
I will be looking for info to help me figure out how much is enough, and a huge part of that will be really digging into how much income I realistically need, Instead of just assuming a couple million will be enough.
Would also like to better understand fixed income options, how much inflation will really cost me, places to live when not tied down to a certain location and strategies people use to enjoy retirement efficiently.
My name is peter and just wanted to introduce myself, realize this may be somewhat ambiguous but I want to dig in some more before I start asking specific questions.