Mustachians - I solicit your experience and guidance on an existential topic.
Micro-background: 42 years old, wife, two kids, one in college already, the other in middle school. Worked at a startup the last few years, though I was not a founder and had limited equity. In other words, not "fuck you" money. Was acquired by small-cap last year, cashed out my options, proceeds went to mortgage pay-down and index funds in taxable account, since 401k was already maxed out. I remain there as a well-paid employee.
Current financial situation: no cc debt, no car loans, just monthly living expenses and mortgage. College funding for kids to go to state schools is on track. 401k maxed out, don't qualify for IRA. Mortgage contributions accelerated for payoff by 2020.
All sounds cool, right? Except I'm professionally falling far short of my ambition. I want professional independence - I want to map my own roadmap. I won't go into it further rather than to say I have entrepreneurial ambitions, and based on my expertise, experience, and network in my field, I have actionable opportunities right now.
I prefer not to think about targeting early retirement, but instead like the term FI, and if I may, coin another: PI - professional independence. Meaning I can do what the fuck I want in my career. I could form a startup, I could form a consulting practice, I could take a year off to experiment and build something in stealth mode... whatever.
Dilemma: My company will likely give me a new position and a raise. I have a stock grant that vests over 3 years. The stock grant could pay off my mortgage by itself. I'll be $1M net worth by late 2018 if I stay. at age 45, I could then claim PI and have enough fuck-you funding to do what I want without worrying about cash flow.
Or, I could leave now, hussle my own consulting gigs for cash flow while building some new technology for a year, either bootstrapping it with some pilot customers or getting funded. In this scenario my income will likely be short of where I'm at now, at least for a few years. The upside however, is limitless. I could be worth 7 or 8 figures some day before age 50. I really am that good. :) (no, really). But there's no guarantee, of course. Importantly, aside from net worth, this is my passion.
So should I sit tight for a 3 years collecting my nice fat paycheck and stock grant and shore up my independence, or do I swing for the fences NOW, while I'm young, at the top of my game, and the market I'm in is ripe?
WWMMMD?
Thanks!