After rereading my journal I irritated myself because I realize that I flip flop a lot. A good friend pointed that out to me once, and I laughed at how right he was with his examples. But, I'm going to flip flop again
I read MMM's latest piece on confidence and money, and it really struck a chord with me. I think he's right, I'm not going to just quit working or making money when I "retire." So I don't need to plan as if I'll never make another dollar again. Which means I don't need to obsessively save to hit a 4% withdrawal rate, or less, because it's overkill.
My ever shifting retirement plan has always stayed constant in one respect: that I'd work 3-6 months a year. Because of this, I think I ought to slow down on accumulation, and just enact the plan, now.
I'll set a much more modest accumulation goal, 20k per year over 15 years. That still gets me my rentals, I just get less compounding. But it still covers the eventual cessation of work in old age, if I ever decide not to earn another dime, which I think is unlikely. One older gentleman I really respect was running his small architectural firm in his 80s, he only took work he liked, didn't work too much, and enjoyed the hell out of life.
One thing I've noticed again and again, is that early retirees often keep accumulating after they cut the cord, to the point where they have way more than they need, and their wealth starts getting a bit ridiculous, because it just keeps growing, and they could have "retired" sooner.
I'd rather start enjoying the rest of my 30s now, instead of stressing over building the perfect income stream. So, I plan to finish out this contract, and then take time off again. I think my hardest challenge is going to be saying no to contract extensions or new work. The accumulator in me always says don't pass up the opportunities that drop in your lap, take the money now, since you may not get one later, etc, etc. That's what happened last year during my test drive. Although granted I've had a really high burn rate with my wife's masters and medical bills, so I think it did end up being a good idea.
I'm not saying don't accumulate or don't worry about the future. But I am saying, if you get 60% of the way to your 4% or whatever you like for swr, you can probably start taking it easy. I hit 570k nw, and I feel like regardless I'm going to go north of 1M net worth, because I hate debt and I hate negative savings rate, that alone coupled with a 570k nw and an average 4% compounding rate means I hit 1M. 1M nw is kind of obscene, and embarrassing in it's own right because it's overkill.
Anyways, here's hoping. I'm done juggling multiple clients, and I'm looking forward to my next time off period when my current contract ends around November. Cheers!
P.s. after completing my bachelor's.. finally.. and being so sick of it at the end that I had to force myself to sit down and type the last paper and not get up until I finished because if I did I'd never come back.. I've decided that hey, why don't I study nursing?! Because that sounds fun right?! Humans are weird... We'll see. I've also variously thought about dedicating myself to being a musician for a few years too... A la https://www.smbc-comics.com/index.php?db=comics&id=2722
Forcing myself to master the guitar for the next 7 years sounds awesome. Maybe I'll grow my hair long too
I mean how cool would it be to switch from Enterprise corporate bull shit and soul sucking meetings to start being that guy who plays guitar in a bar for money..