Thanks for the explanation. I still don't get it, though.
The fact is, if you are working you are always a tool for someone else. Although an entrepreneur doesn't have a boss per se, he or she still has clients/customers (whose whims must be attended to).
Well, you're only truly your own master when you're not working.
Assuming equal expenses, an annual income of $80,000 would lead to FIRE sooner than $50,000. And fewer hours of work (35-40 per week) obviously provides increased leisure time in pre-retirement.
BUT, if you are a GOOD entrepreneur, you are working those 50 hrs/week to better your business which could/should take you to the 'next level'. Perhaps you gradually work less hours and/or make more money. If not, and you prefer the business to 'stagnate', it better be where you want it.
For example: over the last 2 years, I've had a 'self-sufficient' airduct cleaning company. I advertised the same for those 2 years, worked about the same hours, and netted a similar profit (although for 6 yrs straight I've increased net earnings by 10% or more). BUT, I was content with that as I grew my other businesses during those 2 years. It took me 4 yrs to get it to the point where I said.."Okay,self....this isn't bad. You can plan on about $50k net this yr,and plan on working about 400 hours...just by leaving everything on auto-pilot" That was wonderful while I started another company and groomed my real estated investments. Now, I am in the process of expanding to a different market area in an effort to increase profitability. But it's being done on MY schedule...not somebody else's.
Also, I beg to differ on only being my own master when I'm not working. My customers seek ME. They seek my services. I tell them what they will pay,and what I will do. If they agree, AND I LIKE THE SITUATION, I proceed. If not, I tell them to take a hike. Try that with your boss! I never put myself into a situation where the customer controls things...this is MY business and this is how it IS. Period. Sure, we sugar coat things for the picky people, but never are they in control...whether or not they know that. Sure, they can 'not' pay me...but the contract they signed before I began has resolved that issue 99% of the time...plus, we do what we agree to do...so that limits issues.
My guess is that you are an employee? nothing wrong with that.