Mike on fire
Confused about dryer sheets
- Joined
- Jan 16, 2009
- Messages
- 4
Hi this is my first post and this seemed like the right forum for it. I could use some advice. I am 38 years old and live in the New York City area. I have worked in advertising and PR since I was 19 years old, and consider myself really lucky that I found a career that played to my strengths. Seven years ago I was lucky enough to take a pretty significant ownership stake in an agency and we sold it several years later. Now I have a nice financial cushion and have found myself working with a financial planner to see how and when I might be able to live off of my investment income. It's probably not going to happen anytime soon. If I pay off my mortgage in the next year as planned, and depending on what the stock markets decide to do, I will probably have somewhere in the range of $1.5 to $2.5 million in investments by then. (I am still getting payments from the sale of the firm for another year or so). So I will have a home (paid for) worth at least $900k plus a seven figure portfolio and wonder what I should do with this cushion to "set me up" for life so that I can do what I want to do without worrying about how much money it will pay. I have been drawn toward teaching or counseling or doing something that will help others, while at the same time I have become pretty turned off by the stress and culture of my industry. In fact, I recently quit my job and took a consulting role with the company instead, working from home most of the time. So, my question is: given that I am so young, how much should I focus on becoming financially independent versus finding a new career that will be more fulfilling? Should I spend the money to go back to school and train for a different profession if spending that money will set me back in my financial independence goals? I feel like I'm at a crossroads where I need to either go into early retirement mode or into career change mode and I'm not sure which way to go. I'd love to hear from any of you about any similar experiences you've had or advice. Thanks.