Updated almost 5 years ago on . Most recent reply
When did you retire from W2?
I’ve got my eyes set on early retirement from my W2 and then want to build or acquire businesses afterward. For other people that left their W2, at what point did this you decide to step away from the W2?
My monthly expenses are $4500, my monthly income is $5000 after taxes/contributions, my wife’s income is $4500 after taxes/contributions. So I see exit points when my passive income hits expenses, matches my wife’s income or my income, the sum of all three or a multiple of my expenses.
My first thought is that I would exit when passive income is 2-3x my expenses, but I have a feeling it would be hard to find motivation to work for someone else when I’m making more money by employing my dollars to work for me.
When did you retire from W2?