Here is my situation, I decided two years ago that my passion in life has always been dancing. As I am not good enough to succeed in the “artistic” dances (ballet, modern, etc.), I started taking social dance classes and fell in LOVE with Argentine Tango. FYI, I am Argentine.
I have always wanted to retire “early,” 55 years old at the latest, but then I found my passion and MMM, and now even 34 seems too late. To make matters worse, I am at a job I can’t stand, mostly due to 10+ hours a day at a desk and a lot of sense-less rules, but that pays very well, $130k+ per year. Hubby earns about $50k per year. We are childless and expect it to remain this way. Although, I have learned to never say never.
We plan to relocate to Buenos Aires, so that I can be closer to my family and for me to immerse myself in tango lessons and practice. Right now the plan is to move at the very beginning of 2018, but I really want to bail from my job ASAMFP!
Much like others on this board, I am very worried that I haven’t thought everything through; that I missed a small detail. So I need fellow Mustacians to give me their HONEST feedback about my plan!
Here are the numbers on a per year basis:
Expected ER budget at luxury level: $25,000
Expected ER budget at comfortable level: $ $22,000
Expected ER Budget at survival level: $14,000
I have checked these numbers and trust them to be accurate. Note that this includes minor medical expenses but not the “worst-case scenario” type stuff.
Income during ER on a per year basis:
Rentals until 2044: $8,800 (inc. mortgage, bills, prop manager, 50% for vacancies & repairs, and 10% income tax)*
Rentals after 2044: $17,500 (inc. bills, prop manager, 50% for vacancies & repairs, and 10% income tax)
*Rentals are currently not able to earn this much. We have about $20k worth of repairs to do to get us to this point.
Stache: $20,000 (Projected $500k at end of 2016, currently $450k)
I am one document (costs $30 and takes 24 hours), away from being able to legally work in Argentina and could find a job fairly easily with my English speaking skills. Hubby will be legal to work there after some paperwork and a few months. He will most likely not work, as the jobs that he is interested in require native fluency in Spanish, which he does not have yet (fingers crossed for someday). So if we needed extra cash we could find a little bit of work here and there.
The options I am considering:
1. Demanding more vacation at my current job and spending a lot of next year, 2017, traveling and finishing rentals, getting paid my cushy salary and letting the stache grow until we don’t need the rental income. I would be pretty unhappy with work though.
2. Try to stay on at my current job as a contractor working fewer hours per week through 2017. (I don’t see this happening very easily) I could focus on downsizing our life, sill travel a little, and finish the work on the house.
3. My husband could give me a job earning $25 per hour at a low-stress wine shop for all of 2017. I could focus on downsizing our life, sill travel a little, and finish the work on the house.
4. Throwing caution to the wind and leaving at the end of 2016 and seeing how things work out.
Thank you in advance for your thoughts!