31M, Spanish living in Dubai, recently hit a $1M net worth. I'm getting an annual return of about 15% (between 12%-16%) from real estate investments, so my situation is the following:
* $135k yearly from investments
* $145k from a very comfy 9-5 job.
* The above is net as Dubai taxes is 0%
* My current expenses are $41k + $15k rent
* My partner (31F) also has a 9-5 job but hasn't saved much yet.
* Getting married and kids in 2 years time
My questions:
* How much is enough to quit the 9-5 safely? I’ve read that the Financial Independence number (net worth) could be 25 times annual expenses (the 4% rule), which for me is $1.4M. Am I in the right direction?
* I've been conditioned for the rat race, so I feel a bit lost on what to do next. Should I base myself in Spain, Dubai, or somewhere else?
* I’m considering traveling for a few years and doing exciting activities like motorsports on different circuits around the world (I’d love to ride in Laguna Seca and other famous tracks), surfing in Australia, driving Route 66 in the US, etc. But I’m worried that this lifestyle might get tiring or boring after a while (or maybe I’m just being pessimistic and it’s actually great). Will it be fulfilling, or should I consider other options?
* I know some people who retired young (40-50 y/o) and noticed their ambition or appetite for exciting adventures/projects diminished, often staying at home watching TV. I’m also unsure if keeping a corporate role might help me stay socially active and engaged in more activities.
* My current job is super comfy, 9-5, 4 days a week, no pressure. I could find better-paid jobs, but they would involve a lot of extra hours or pressure. Quitting would mean the company management likely wouldn’t rehire me for at least two years until they forget the pain XD. It’s a fairly unique position of comfort.
Thank you in advance for your advice and guidance!! submitted by /u/Any_Canary4926
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* $135k yearly from investments
* $145k from a very comfy 9-5 job.
* The above is net as Dubai taxes is 0%
* My current expenses are $41k + $15k rent
* My partner (31F) also has a 9-5 job but hasn't saved much yet.
* Getting married and kids in 2 years time
My questions:
* How much is enough to quit the 9-5 safely? I’ve read that the Financial Independence number (net worth) could be 25 times annual expenses (the 4% rule), which for me is $1.4M. Am I in the right direction?
* I've been conditioned for the rat race, so I feel a bit lost on what to do next. Should I base myself in Spain, Dubai, or somewhere else?
* I’m considering traveling for a few years and doing exciting activities like motorsports on different circuits around the world (I’d love to ride in Laguna Seca and other famous tracks), surfing in Australia, driving Route 66 in the US, etc. But I’m worried that this lifestyle might get tiring or boring after a while (or maybe I’m just being pessimistic and it’s actually great). Will it be fulfilling, or should I consider other options?
* I know some people who retired young (40-50 y/o) and noticed their ambition or appetite for exciting adventures/projects diminished, often staying at home watching TV. I’m also unsure if keeping a corporate role might help me stay socially active and engaged in more activities.
* My current job is super comfy, 9-5, 4 days a week, no pressure. I could find better-paid jobs, but they would involve a lot of extra hours or pressure. Quitting would mean the company management likely wouldn’t rehire me for at least two years until they forget the pain XD. It’s a fairly unique position of comfort.
Thank you in advance for your advice and guidance!! submitted by /u/Any_Canary4926
[link] [comments]