My question to other young dreamers as well as experienced retirees is if I should pull the trigger and go into early retirement at 27 using passive income to support, or if I should put it off in order to secure more money?
It's always been my goal to 'quit working' so that I can take the time to do the things that I want to do, at the pace that I want to do them.
I failed many, many times but in the last 2 years have hit on a success which is now generating about $2,000 in passive income per month. I think that it's realistic to see that number grow to $4,000 /mo. by the end of the year.
I have very little savings, and very little in the market - all of my money is tied up in a single rental property which I will likely hold on to.
My heart is telling me to 'just do it' but there's always that nagging 'you need more, more more' in the back of my mind saying I should have more of a safety net financially. As I will realistically live out another 50+ years until death, there is a lot of time for markets and business models to change etc, and perhaps it's better to squirrel away as much as possible while I can right now and go back to work and earn as much money as possible until I am 30-35.
Based on my research and the words of others on this forum it seems like $4,000USD/mo. should be enough to support a modest 2 person home in Central America where I plan to live out the next 3-5 years or longer.
I look forward to your advice, questions, comments etc.
cheers.
It's always been my goal to 'quit working' so that I can take the time to do the things that I want to do, at the pace that I want to do them.
I failed many, many times but in the last 2 years have hit on a success which is now generating about $2,000 in passive income per month. I think that it's realistic to see that number grow to $4,000 /mo. by the end of the year.
I have very little savings, and very little in the market - all of my money is tied up in a single rental property which I will likely hold on to.
My heart is telling me to 'just do it' but there's always that nagging 'you need more, more more' in the back of my mind saying I should have more of a safety net financially. As I will realistically live out another 50+ years until death, there is a lot of time for markets and business models to change etc, and perhaps it's better to squirrel away as much as possible while I can right now and go back to work and earn as much money as possible until I am 30-35.
Based on my research and the words of others on this forum it seems like $4,000USD/mo. should be enough to support a modest 2 person home in Central America where I plan to live out the next 3-5 years or longer.
I look forward to your advice, questions, comments etc.
cheers.