Well, we had a plan and it was perfect! Mrs. HackNow was ready to give her notice on Monday, a day that would trigger our first real step towards #FIRE (Financially Independent, Retire Early). We had been back and forth over the past 4 months as to the best time to pull this trigger. Well, each month came and went with a trip to spend money on, a medical procedure that hit savings, Uncle Sam’s tax bill, etc., etc., etc.
However, we’d finally jumped all of those hurdles and were ready to take that first bold step. We have a few passive income streams including dividend stocks, rental income, Betterment, and Lending Club. Plus, I would continue to work for another few years while we make the transition from FU (do I have to explain this one?) money to #FIRE money. This would allow Mrs. HackNow to spend her first summer with our daughters without the worry of asking off for summer vacations, getting the kids to swim team, volleyball and soccer camps, etc. We’ve planned the work and worked the plan, and we’ve proven that we can survive on one salary and let our savings snowball continue to grow.
Well that was before Wednesday afternoon. After 6+ years of low effort, highly dependable rental income from our rental property (an early retirement vehicle), our tenant notified us that they were moving out.
UGH! No! That’s not in the damn plan man!
The timing could only have been worse if Mrs. HackNow had already handed over her resignation to the big bad boss lady. So there’s your silver lining, we had a few days notice. Basically enough time to make the logical decision (we’re nothing if not boring, I mean logical) that we have to push off #FIRE plan step 1.
Trust me, we both wanted to throw caution to the wind and drop that bomb on Monday, alas without knowing how long this rental will sit empty, we just can’t risk it. Our budget was laid out with a net income from the rental, not a sinkhole of cash flying out the window.
So with that said, Mrs. HackNow has to keep her happy face on, knowing full well that she’s on the way out soon. Hopefully we can turn this unit around in short order during the summer rental market. I’m really antsy to strike a match to this #FIRE dream. Wish us luck!
Next stop, step 1.