#personalfinance #investments #fire Hit my target number recently and ready to retire on passive income. I’ve pursued a plan to retire early for a few years now. I’m 41 and happy to share my knowledge. Ask me anything. Edit to add data to answer common questions: Primary home paid off. $6.5M invested. $2M in cash flow real estate (B properties) bringing in $150k rent in Ohio and Georgia $1.5M in HCOL city rental property bringing in $60k rent $2 M in VOO making $35k in dividends $1M in 401k All under an LLC. Rounded numbers for simplification. TC: $1M due to stock appreciation. $700k without. L7. Texas. What do I plan to do after retiring? Chill, focus on mental and physical health and fitness, travel, get bored, start a low investment lifestyle business maybe, find my purpose. Not deal with work stress. Married, 2 kids. Was on H1 once upon a time. Lots of people asked for resources to learn from: Join FB groups like “Choose FI real estate”. Join Reddit groups for real estate investing and financial independence. Read BiggerPockets. MMM forums have some good info as well. Go to open houses, talk to a lender etc. No one is going to write a book for you. After reading some comments suggesting my recent high TC is the reason for being FI, I wrote a post on how to be FI in 20 years on 300k/yr here: https://us.teamblind.com/s/yVOPCsa8
What is the number?
6.5M excluding primary home
Where have you invested your money?
Real estate VOO 401k (equities)
What does your 401K consist of?
What’s your retire passive income strategy? Also what career progression you suggest for early 30s software engineer to retire early?
$2M in cash flow real estate (B properties) bringing in $150k rent $1.5M in HCOL city rental property bringing in $60k rent $2 M in VOO making $35k in dividends $1M in 401k Rounded numbers for simplification
Re career progression: Focus on promos and try to get one every 2-3 years. Enter management as early as possible. Invest along the way.
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Career path and tc at each level?
2004-2010 Infosys type consultant with low pay 2010-2015 Sr SDE to SDM at tier 2 company (like Cisco type) $250k 2016-2018 Director at tier 2 company (like PayPal) $400k 2018 onwards L7 $1m with stock appreciation.
Thanks for the reply! Your path and FIRE goal is exactly what I’m aiming for. Currently a Sr SDE at 4 YOE. Worked from a few terrible tc jobs until I landed at a unicorn. Any advice you would give your former self as you climb the ladder?
Job title? Where did the money come from to begin with?
Focusing on comp growth and switching multiple companies and getting promoted with each new job. Also, investing > 50% of income consistently.
Engineering? Management?
Strategy for investing real estate?
Start early. Look for properties that cash flow from day one with 25% down. Don’t be afraid to invest out of state.
How do you handle property management ? Are you situated close to the properties to own ?
Family with kids? How many kids? Spouse working or not? How you plan to pay to get health insurance?
I would totally retire in another country, the US is so bad for that
2 kids Spouse quit a couple years ago ACA for health insurance. $2500/month for family.
$2M in cash flow real estate (B properties) bringing in $150k rent $1.5M in HCOL city rental property bringing in $60k rent $2 M in VOO making $35k in dividends $1M in 401k Rounded numbers for simplification
Is your rent income after property tax?
What's your target number and where do you live?
$6.5M invested Texas
Congrats! How is the money distributed between retirement accounts vs brokerage accounts