Hi Everyone!
I've been thinking about early "retirement" for quite some time now and would love some advice.
Here are the details of my financials. I'm 23 and self-employed as a Tutor, which I love. It's flexible and really doesn't feel like the work. The thing I don't love, however, is the instability and part-time hours. This is why I'm looking to have some "retirement income" to supplement the lack of stability...although, now that I think about it, maybe it won't be "retirement income" at all. Anyway, I make about 25k/yr after taxes, which doesn't leave me a lot of room for saving. I managed to save about $2100 last year making my total Roth contributions about 11k to date.
I'm now considering either going back to school to get a Masters in Math to teach at a community college level or just really pushing my tutoring business and trying to increase my income to invest more. I have some ideas (setting up a webiste, making a yelp page, etc.).
Either way, I've been thinking about how to invest my money and I've been considering just putting as much money as I can into a brokerage account. I know the taxes suck, but I'm not sure how else to get the regular income stream that I'd like. And, since I have some money in my Roth at such an early age, that should give me a decent amount of money for retirement already, and I can always contribute more in the future, when my income increases.
To sum it up, I'm not opposed to continue Tutoring at all. I'd just like to have enough money saved up so that I can be getting about 1k per month for stability.
Any advice would be much appreciated!