Need confidence/advice for Mini Retirement

[BigMike]

Dear All,

I've been contemplating a mini-retirement recently after finishing the 4HWW book. I have a mortgage to pay and my only source of income is my current job and my wife's teaching job. If I quit my job, we would lose 65% of our income.

Without any automated source of income, is it still possible (realistically and financially) to take a mini-retirement?

Thanks for your help,
Mike

[DrummerDave]

Dear All,

I've been contemplating a mini-retirement recently after finishing the 4HWW book. I have a mortgage to pay and my only source of income is my current job and my wife's teaching job. If I quit my job, we would lose 65% of our income.

Without any automated source of income, is it still possible (realistically and financially) to take a mini-retirement?

Thanks for your help,
Mike


You can do it, but you'll have to make sacrifices - your job obviously, and depending on the amount of savings you have, that as well. Possibly your home. You may need to simplify and move somewhere smaller.

It is possible, but I'd work on a muse first. That's just me though. It's hard to get a muse started with no money.

[BigMike]

Thanks DrummerDave,

I'm definitely looking into getting a muse started. I think that's very important and I'd actually like to get an automated source of income happening before leaving anything. I know a mini-retirement is important for some, but the flexibility in my current job allows me to spend time on other things while maintaining a very high efficiency rate with my work.

[johnnywolf]

Mike,

Aside from a Muse, if you are able to rent out your house to cover your mortgage or, best option to be more than your mortgage then it is definetely possible.

In San Francisco, the houses are two floors high, with separate entrances. It is very normal to convert the bottom floor into an apartment and rent it out, or to live in there and rent out the main house. At my parent's house, this simple rental covers their entire mortgage.