This is my favorite post yet! This really gets a dialogue started about what “retirement” really means. Question: have you already planned out what your supplementary source of income will be when you “retire”? Will it be ad revenue from this blog or other ventures as well? Happy to take this convo offline over some wine- can share some of my goals too!
Woohoo! A like from you is worth a million 🙂
You’re absolutely right. I believe the definition of retirement needs to be re-defined. What we’re suggesting is more of a semi-retirement based on the traditional definition with the underlying goal being to keep your cost of living tolerably low so that you fund it through passive income. For us our primary sources of income will likely be spread across rental income from our properties, blog income, dividends from Roth IRA and brokerage accounts, consulting fees etc. At a minimum, I anticipate we’ll have multiple little streams that produce $10-$20K annually…more than enough to keep the funds compounding.
I have to say the good version of early retirement is achievable because my wife and I have been living it for two years. Sitting around bored is not a problem and more time with my wife and best friend(same person) is the best thing. It helps that we have many hobbies we enjoy together, endurance running, tennis, hiking, fishing and many things we do alone with other friends. Plus I have a bunch of side gigs, some that make money and some that just help people in need. All together it is even better than I imagined it. But it takes planning, especially the shared hobbies part.
That’s great to hear steveark. It’s good to know we’ve been visited by another couple who have found a way to make it work. I look forward to building a long list of hobbies and causes to replace my time with and like you, I suspect it will be even better than I imagine it.
What a KICK A** post!
I have never seen someone break down their daily/weekly schedule like that before, and it puts into perspective the dream of wanting to “own our time instead of renting it out to an employer.”
I look forward to reading your future posts!
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