Good to meet you Justin
I tell my Coaching Students to not leave their job until they have "Saved" while earning, due to real estate, twice their JOB Income.
A very basic breakdown of costs for an employee/employer relationship
|State Unemployment Insurance||6.20%|
|Vacation Pay Minimum||4.00%|
|Crap you Break/Screw Up the employer pays for||5.00%|
Prove you can pay yourself first
For me I decided to quit my job when it was clear that I was much more excited about notes, and that the potential upside was much greater than 2-4% annual raises. I hadn't replaced my income yet, but I had the advantage of my wife making enough for us to live on easily and full benefits to go along with that. Plus I had several deals going which would pay off over the next 12 months. So I wasn't really taking much personal financial risk. If I was a sole breadwinner and had to pay for health insurance for my family it probably would have taken another year. I was a guest on a podcast where I discussed the decision in detail. I'm not sure what all the policies are here on posting links, but if you pm me I can send it to you.
Employment income is generally the easiest money to earn and will allow you to qualify for mortgages. No reason to throw that away simply due to having rental income.
I left my job behind when I qualified for a pension. No reason to leave any sooner unless you intend to change jobs to work full time investing/property management.
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