Lienlord
Recycles dryer sheets
Hello, I'm 53 and have worked as a public school financial administrator for the past 6yrs. I'm vested in the teacher's pension plan and would receive 2% of my highest annual salary for each year I work when I turn 62. So if I leave today it would be 12% (2%x6yrs) at age 62. Not a huge amount, but something.
My wife and I also own a Real Estate investment business which buys/sells houses, manages rentals and does hard money lending. I've been trying to build this business for the past 3 years, and it has been very difficult to do while holding down my W2 job (which is very demanding and stressful). We've also been investing in commercial real estate partnerships for the past 26 years, and receive monthly dividends from these investments.
Currently, my W2 salary represents 25% of my income, but takes 75% of my time. We have always lived on my W2 income and poured the rest into the business. I think I'm ready to give my notice and devote more of my time to building the real estate business, but towards a more passive income direction.
Here's my question...if you take ER but use your time on your own business, is that still considered Early Retirement? I love doing Real Estate Investing, and consider it a hobby like most consider Golf! Haha
I think of Financial Independence is the ability to do what you enjoy. If that happens to increase your income, that's only an added bonus. Right?
My wife and I also own a Real Estate investment business which buys/sells houses, manages rentals and does hard money lending. I've been trying to build this business for the past 3 years, and it has been very difficult to do while holding down my W2 job (which is very demanding and stressful). We've also been investing in commercial real estate partnerships for the past 26 years, and receive monthly dividends from these investments.
Currently, my W2 salary represents 25% of my income, but takes 75% of my time. We have always lived on my W2 income and poured the rest into the business. I think I'm ready to give my notice and devote more of my time to building the real estate business, but towards a more passive income direction.
Here's my question...if you take ER but use your time on your own business, is that still considered Early Retirement? I love doing Real Estate Investing, and consider it a hobby like most consider Golf! Haha
I think of Financial Independence is the ability to do what you enjoy. If that happens to increase your income, that's only an added bonus. Right?