No need to beat around the bush any longer, I might as well make it official — I am going to retire from my career as a professional engineer at the age of 30. When I first started this blog, my original target was 37.5. For anyone who has kept up with the About Me section, you’ll see that this target date has been moved in on a somewhat regular basis.
Sadly, no, it’s not because I won the lottery (although I am playing in the latest round of powerball!). I also haven’t discovered a way to beat the market on a consistent basis. No, I’m not doing anything new or exciting. I’ve just been simply saving like a maniac (60 to 70%+) over the past two years, and investing all my earned income and re-investing all passive/semi-passive income into buying more assets.
At this moment in time, my passive/semi-passive income stream brings in about $1300/month. This does not factor in any contributions from retirement accounts (401k/Roth IRA). My original FI target was $1500/month. By the end of 2014, I am aiming to reach somewhere between $2000/month to $2500/month. This will be made possible by securing one additional property this year, and three additional properties next year.
By the end of 2014, I will be 30. Hopefully, I will have 7 properties by then. If everything goes to plan, I could potentially exit out before year’s end of 2014. However, I also want to build up a cash buffer (dividend stocks) to serve as an emergency-emergency fund. So, if I can grind it out for a little bit longer, realistically, my goal would be to check out for good in mid 2015. I’ll still only be 30. This would also allow me enough time to collect one last round of yearly bonuses (RSU’s, stock options, etc.). All bonuses vest in August 2015. Summer also seems like it would be an ideal time to throw in the towel and ride off into the sunset.
Yep, that’s the plan for now. Grind it out for two more years… then live the life I’ve always dreamed about. 🙂
Thanks for reading! I’ve enjoyed sharing this journey with everyone so much!