{ "media_type": "text", "post_content": "I want to leave the 9-5 grind. I'm building up my passive income. I own two properties that I rent and I max out my 401k/IRAs. I also have about 10k in index funds. Anyone have other suggestions? I'm", "post_id": "5dca79e69e2eba00213b8b93", "reply_count": 27, "vote_count": 12, "bowl_id": "5ae4a4f739e7cb001391ec8b", "bowl_name": "Consulting Exit Opportunities" }

I want to leave the 9-5 grind. I'm building up my passive income. I own two properties that I rent and I max out my 401k/IRAs. I also have about 10k in index funds. Anyone have other suggestions? I'm

like
Posting as :
works at
You are currently posting as works at

Marry up.

likehelpfulfunny

29M and live in Atlanta. I have been in consulting for 7 years now and I'm no longer enchanted by it and want to retire ASAP

like

You are complaining about 9 to 5 work? I usually work from 9am to midnight 😂

likefunnyuplifting

unrelated question, but how are you investing in index fund outside of 401k and IRA? no tax advantage account? related question. are you looking to live off the passive income from rental properties? how much passive income are you generating now? How steady have the rental periods been (any issues?) You probably should aim for paying off the mortgage on at least the 2 properties and then look to accumulate at least one other multifamily unit.

like

Yup! I opened a Vanguard account. It doesn't have the tax benefits like the 401k but it's better than a savings account. My ideal goal is to have 10k month passive income. I'm about 15percent there. Five more years to go!

likefunny

Want to start a business? Looking for a partner

like

Honestly yes If you own property, one good strategy is to buy cheaper more worn down units, fix them up yourself / with the contractors license you have, and sell them at a larger profit.

likehelpful

Get a lot more money in index funds, $10k aint shit.

like

Yup, need to get that hire.

The insurance business pays passive monthly renewal income. After 10 Years you can leave and still be paid 100% of the renewals. I’m building that up to pay me in retirement, plus have 3 real estate investment opportunities (and will buy more), plus traditional 401k. Since I’m independent I make my own schedule and spend a lot of time with my family. I love it!

like

Sprint until you are 40, then make your move. You get paid in your 30s.

like

True, I would like to get married soon ish. Maybe get a kiddo or two. But I want to have more free time for them.

/r/wallstreetbets

funny

Same! Have two properties- investing in assisted living facilities now...if the numbers work out on this next one I’m looking at, can instantly retire and start a business. $5k per month in passive income...I hate working for people.

like

Currently two single family properties, $425k ($75k equity), and $175k (25k equity). These both cash flow $100-$300 per month. These are more of a long term play for equity and a nice extra “pension” when I retire. When both of these properties are paid off, I will be able to generate about $5,000 per month in passive income at age 65, on top of social security, my military pension, and any other investments I accrue in the next 30 years. HOWEVER, I’m looking for something that can replace my JOB now, with passive income, so I can focus on more entrepreneurial ventures. That’s what I’m starting to dabble into these properties (Residential Assisted Living) for.

Need to see actual numbers...any mortgages/debt?

I also bought a piece vacant land a year ago. Im exploring building a house on it and selling it.

likefunny

Hire a CPA (or learn it yourself in your free time) and start measuring the tax-efficiency of your asset portfolio. If you find it interesting, take it beyond index funds and work some strategies into your portfolio (Value investing/Fama French factors, momentum investing, etc.).

You’ll never make a liveable wage on 2 units. Need a lot more capital/units before that is your exit.

Related Posts

I have been using Wealthfront to manage roughly 30% of my investments. Not very happy with it’s allocations (I want less international and resources exposure), and looking to get a bit more control, with the continued benefits of automated rebalancing and tax loss harvesting. What are my best options? And what is the best way of transferring?

like

Do people front load their 401k contributions? I put in 30% for the first 6 months and then prorate up to the max for the last 6. Also, anyone know a way where we can put an explicit $ amount in instead of percent? I'd like to be at $19,500 to the cent at EOY

like

Was let go as a staff 2 at 77k in September and currently have 3 offers in deciding between them. Would really appreciate any feedback. 1. 3rd year associate at PWC -HIA at 85k. 2. Transformation analyst at a big 3 automaker 83.5k 10% bonus. 3. Product development role at a healthcare startup. 100k 7.5k sign on and 7.5k bonus in 3 months. Potential 20% bonus at year end.

like

What is so great about working in Salesforce? What are the benefits everyone raves about and what do they even do? Is it implementation?

like

Regarding retirement, the way I understood it the ideal was: 1. 401k match 2. Roth IRA 3. Max 401k 4. Other accounts (eg. HSA if you are elegible, potentially 529 for your kids, otherwise just investing in stuff) Is that right or am I forgetting something?

like

Hello! Anyone work at EY? The 16 weeks granted for maternity leave…Is that full or partial pay?

likehelpful

Can someone explain why they buy EFTs over index funds? A couple years ago I switched my 401k from target date to index funds? Does it make sense to eventually switch those to EFTs? If so, what's the strategy on when to switch?

Have the tax rules changed on a 401k loan? Any help is appreciated

uplifting

Hey folks. I’m resigning from my first job out of college this week. Any tips on things that I should put in my checklist? Save payslips, take advantage of benefits, in-person with EM and Partner, then email to them and HR? Best practices in navigation this would be appreciated!

like

Ladies, I recently left consulting for a VP level job in industry. I report to another VP so they choose to “withhold that title for my functional title.” Have all the benefits and sig authority....

like

Does Deloitte offer any work from home benefits or stipends? Deloitte

like

Going on maternity leave. What are some things you did, hobbies you picked up?

funny

Anyone have insight on the proskauer healthcare practice (e.g., work-life balance, reputation, etc.)?

like

Anyone ever used the Warton Group? Their marketing emails say they have preset appointments with 401k plan sponsors that are shopping their plan. The advisor is charged for the contacts. 1/2

likesmart

My mom is going through a very bad situation with her previous employer who is not paying her her correct retirement benefits after screwing up their paperwork. She worked for a school district for about 15 years. She has a case but she is afraid it’s not high value enough to attract the attention of the attorney. School district is now ghosting her. If anyone has advice or interest, please let me know, thanks so much

like

EY - are tennis rackets and tennis lessons permissible under our $500 fitness reimbursement program?

like

Got a job offer at Deloitte for manager level. Looking for a summary of benefits. I know 401k match but is there a waiting period, do you have something like pwc’s wealth builder. What is parental leave? What is the phone benefit? (Pwc subsidizes phone and pays plan). Health insurance I assume is crap but who is it through? Any random benefits that stick out to you that other firms might not have?

like

I’m a lazy investor and don’t want to think about my money, so I invest my Roth IRA and 401K into a Vanguard target fund (2065). Should I be doing more with my money?

like

Hello Fishes, I have been offered Assistant Director role in EY GDS. What are the roles and responsibilities and benefits associated with this role and how different is it from senior consulant profile in IT? Skill- SAP YOE- 12 years

like

Hey I’m looking at KPMG for their senior associate, federal healthcare policy. I was wondering if anyone here works or has worked for them and what your experience is/was?

like

Additional Posts

Any book recommendations?

like

When should I expect to hear back from schools for interviews? I submitted apps September 1st and I feel like I’ve been seeing posts on here of people already interviewing. I’m kind of freaking out 🙃

like

Does a private equity internship a startup provide good exit opps

like

401K Question - Very Confused. Just came to US and will be here for about 4 Years. Firm matches 25% of first 6% employee down. Some say, upon withdrawal, have to 40% tax/penalty / others say .. Contin

like

Will there be a salary bubble like the housing bubble? Hearing how much people with 2-7 yrs experience are getting offered to move companies is blowing my mind. At some point this is not going to be sustainable and salaries will drop back down to reality. However, I am concerned that all of those folks with inflated salaries will get in situations they can’t support after the correction. Then what happens?

like

Anyone ever had to deal with unemployment benefits appeal?

like

I’ve been creating my pre-recorded video lectures using Screencastify since the beginning of the school year without any issues. However, right before the holiday break my students started experiencing issues where the screen would go completely black in the middle of a video. Has anyone experienced this before? I’m wondering if it might have to do with the program becoming overburdened by the volume of videos being created on the platform.

like

Any investment advice with no 401k match? Was planning on doing the full 18.5k

like

Seeking an industry data science role (senior level is probably the best fit). Please let me know if your team is hiring

like

How good is Deloitte’s cloud practice? What’s the average salary range for Cloud Engineer positions in Deloitte GPS and how much Bonus can you reasonably ask for?

like

Is there a studio in the dmv area where I can go get a holiday photo taken with my husband? We did a photo shoot in the summer and really don’t want a full fledged photo shoot right now. Just a couple of photos in a studio with some sort of Christmas/ holiday set up. They always show stuff like this in movies, wondering if it’s real lol

like

I am looking for change , I have 16 years experience in SAP as a Project Manager.

like

What will you do if you feel like you’re not growing anymore in your career but then organization structure change happened, new manager, new goals and maybe a big chance for promotion? Are you going to look for a new job or stay?

like

Which firms are still letting people expense overtime meals, aka WFH hasn’t changed expense-ability?

like

Moving to final loop interview round @ startup with members of the team. Recruiter said convo is focused on enhancing my understanding of role + who I’d be working with. Any recs for good questions to ask beyond the standard ones?

like

How is FTI TAS/FDD comp?

like

How succinct would you make your resume for Big 4? Does the 1 page rule still apply?

like

Recruiter gets in touch to set up a phone call following the 2nd round of executive level interviews. Primary contact has been by email. Potential offer being extended?

For the LGBTQ+ lawyers, if your firm offers reproductive assistance, how did you start the process of planning to start a family? Are there better years as an associate to target having a child? How do you (or should you) approach it with your partner leadership, or should you just dive right in with the HR contacts? Any advice would be really appreciated!

likeuplifting

New Manager at Big4 EA to MBB associate. 50% hike in pay and generally better work, culture, brand. Should I be bothered with the title demotion and loss of network or just count my blessings?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal