bradtreadwell1900
Confused about dryer sheets
- Joined
- Feb 28, 2020
- Messages
- 3
I am excited to be on the early retirement journey. I am 36 and happily married with two daughters (5 and 2). My wife is a teacher earning roughly $45k/yr. I am a manufacturing manager earning $100k/yr (BSME, MBA). I also own/operate a video production company earning $25k/yr and we have rental property that is essentially paid for that returns $20k/yr. This is a total of about $190k/yr. We have non retirment investments of $80k in conservative mutual funds and bonds.
Our mortgage is our only debt and is about $200k (25 years remaining on 30 year loan). We are investing the difference between a 15 year payment and 30 year payment.
Unlike many other early retirement stories I've read, we want to have our cake and eat it to. We estimate we could maintain our lifestyle with annual income of $120k. We both enjoy our careers and my wife has the luxury of being off when our kids are out of school. I would like that same luxury. Using our non-career income ($45k/yr), I am researching income streams that could generate $30-50k that would give more flexibility.
I too love teaching and have considered being a community college instructor. Ideally I would love to an option to be a remote instructor in mathematics, statistics, programming, electronics, or business administration/analytics.
With that said, I am torn. It would be great to be off with my daughters by the time I turn 40. However, I could work until I am 50 and save up so that I am fully independent of any career.
Two Questions: Anyone have experience with remote instructor positions that could give advice?
What advice would you give someone in my position in terms of planning for a partial retirement in 4-5 years versus a more full retirement in 6-10 years?
Our mortgage is our only debt and is about $200k (25 years remaining on 30 year loan). We are investing the difference between a 15 year payment and 30 year payment.
Unlike many other early retirement stories I've read, we want to have our cake and eat it to. We estimate we could maintain our lifestyle with annual income of $120k. We both enjoy our careers and my wife has the luxury of being off when our kids are out of school. I would like that same luxury. Using our non-career income ($45k/yr), I am researching income streams that could generate $30-50k that would give more flexibility.
I too love teaching and have considered being a community college instructor. Ideally I would love to an option to be a remote instructor in mathematics, statistics, programming, electronics, or business administration/analytics.
With that said, I am torn. It would be great to be off with my daughters by the time I turn 40. However, I could work until I am 50 and save up so that I am fully independent of any career.
Two Questions: Anyone have experience with remote instructor positions that could give advice?
What advice would you give someone in my position in terms of planning for a partial retirement in 4-5 years versus a more full retirement in 6-10 years?