Second post on MMM. The "what FI feels like" thread drew me out.
I am officially done with work this week after being in a high stress sales role for 15 years. I'm 39 years old, married (wife is 35) with one kid on the way.
My situation is pretty secure, many folks here would want to punch me in the face for not leaving work sooner. If I waited any longer my wife was going to punch me as well because work was literally killing me and affecting my health in serious ways.
W2-income (that I just turned off): $250 to $400k/year (depending on sales, etc)
Debt = Zero
Passive income = $110k/yr
Deferred income (from commercial real estate & carried interest) = $50 to $100k
Monthly expenses = $3k to $4k at the very most, last year was closer to $2k/month
Wife still works at ~ $40k/year with decent health insurance
So without my income we are earning about $160k/year with much of it tax-advantaged (depreciation on RE) and another $50 to $100k per year of deferred gains. Should be saving at least $50k/year after taxes if not a good bit more.
If we needed to I could cut out close to $1k/month in expenses by ditching the second car, reducing some lavish expenses like directv and full-price cell services, second car, etc. But with our passive income I'm comfortable with the level of expense.
We invest primarily in real estate - commercial & residential including distressed debt, multifamily & development projects. Some fixed income (trust deeds), small amount in stock market (wife's 401k) but mostly real estate.
Ok, that's my story and I look forward to contributing to the community!