When REI and my other investments (like notes) earn me 200-300k a year I’ll walk away
I wouldn’t say there’s a set number. There’s a cost to working a 9-5 that is taking away from doing something that can eventually make you a lot more money and more importantly not drain your energy. I quit my 9-5 to 7 years ago with my wife having gone back to school to get into real estate. There’s more steady income in being an actual realtor, but there certainly wasn’t at the beginning. Wouldn’t trade a tough couple of financial years for a steady 9-5 paycheck though!
I must have the same friend asking the same question. I’m gonna shoot for about one and a half times more than what I make now. Though I think I will switch to a less paying, more flexible job when I match my current salary. Similar question, how much does health insurance effect ones ability to switch or leave a job? That seems to be my biggest speed bump.
I have not made the jump (yet) but here is my current thinking:
I see my W2 job as a means to conventional loans. It is not a super high earning career but without it I wouldn't be qualifying.
So I expect to keep it at least up until I've hit my 10 loan limit. Who knows what the future will bring though.
I knew when my job was interfering with my investing. Also, when the income from investing exceeded my job income.