Admittedly a thin premise to base an AMA on... but whatevs. FIRE: Financial Independence + Retire Early I am retired.
Why were you fired?
I don’t have any meaningful quesitons as I lurk on r/fire. just came to say congrats!
👊
He may fuck himself, or he may not - for he FIREd. Good for you DuQvV7.
From where? Did you 🥊 your boss when you left?
From “New” and no, I’m not a dick. I love the people I worked with.
Sorry misread the OP
Where are you located? Are you planning to move?
I’m in IN. I have a vacation home in AZ. Likely getting another in FL. No intentions of actually moving permanently.
Then your cash burn will increase.
Care to share a rough roadmap so we can all make our own destiny?
Yes please
[OP Here] Lots and lots of side hustles and a fanatical devotion to retiring in my 30s. I failed at that. But here are some things I did to fund my RE business * Bought used computer pallets at local auction and sold for parts on eBay. China killed that idea with cheaper manufacturing. $1-$2k/ month * Flipped large dollar gift cards on CL till startups like Raise killed the idea. Met Some sketchy individuals but pulled in $2k/month with very little work. * Instructor at local college. Satisfying, awful pay though. * Passive investor in a currency trading partnership. I know nothing about currency trading. Lost $10k. #neverAgain #investInYourself * Started a small IT staffing shop with 3 others. Profitable. Left in 2013 when I couldn't find time for this. $10k/year. Mostly passive. * Equity partner at startup in different state. Wrote a shit load of code. It fizzled. Got NOTHING for 2 years work. Anyone need a fully working Patient Management System? #neverAgain * Crypto currency. Only $3k invested. Cashed out at $5k total profit. Who knew BTC would ever breach $1k. * Learnt to trade leveraged VIX ETFs. 30% returns in 2015 & 2016 (that trade died last December. VIX has been dormant) * Wrote 3 tech books. Financially bad idea and MASSIVE time sink (total royalty was $8k) but was awesome for career * Created transport company to profit off Uber Black. Had 2 cars. Travis fucked me on this when UberX came to town. Lost $5k. * Created property flipping company. Best income vehicle. That shit eats 40+ hrs a week though. It’s a side gig that eats all your spare time * Became a tech conference speaker. No cash but they paid travel and lodging. Also fully approved and supported by my employer. Career booster. Gave it up after 2 years. I love cash. * Spent (almost) every single vacation day in the last 5 years doing contract IT training. ~$1k/day, FL, AZ, WA & CA (I'm IN/OH) Honestly wouldn't mind doing this more. Need to automate your QA? PM me * Write code for fellow IT folks at different firms. Login via VPN/Webex screen share. Crush code. Pocket $50k/yr. * Built web sites. Lots of it. Early 2000s. Built web presence for local businesses and hosted it. About 12k/yr at peak. Until Wix & SquareSpace made the space fully DIY * Had a (mildly) interesting idea, built the software, stumped on the hardware (I'm a software guy). Sold it for 50k (split with partner). * Every penny of side hustles went into buying rental property. Best passive income vehicle. * Turned down google offer in 2003 because I didn't want to move to PA. So I'm not very smart.
How much did you save per year? From which source of income? Job, dividends, investment, side gig?
I worked for 22 years. All in various Midwest companies so no RSUs or high TC. Income source: work, side gigs, dividends, stock trading, tax planning, investments (failed and successful)
Did you inherit anything?
Where did you get the bulk of your net worth from? From “new”?
RE investing. My entire 401k for 22 years is barely $800k
What were ur major investment areas? Stocks? Any particular segment - is more long term or short term investments.
do you make most of your money from writing blogs ?
Never blogged a day in my life.
I want to do this by 45 max. Envy you but also happy for you. Rat race sucks.
What’s your net worth.
$4m And to pre-empt the inevitable nay-sayers. Yes, it’s enough. I did my math well. My cash burn is $40k/yr
I’ll go the other way actually. You have way too much money for just a 40k / yr burn. 0.03*4m = 120k.