Now that our family has moved to North Carolina, our next big financial goal, ten years’ hence, is retirement. We’ve decided to wait until Little ThreeYear graduates before we retire (although we could always change our minds). Since we’ll be retiring somewhat early, before the “official” age of 65, we’ll need to structure our retirement so that we have access to different pools of money, or streams of income, to tap into.
Though Mr. ThreeYear and I primarily invest in index funds (we have a “slow and simple-don’t get greedy” philosophy), we currently plan to have several streams of income available to us when we retire. Some will be passive, and others active. While this wasn’t necessarily a conscious plan on our part, life has worked out this way and we’ll take these streams of income we’ve developed along the way. Continue reading “The Six Streams of Income We’ll Rely on in Early Retirement”
In last week’s post, I laid out several streams of income that Mr. ThreeYear and I expect to utilize during early retirement. That led me to remember all the times we’ve had side hustles during our fifteen years together.
Mr. ThreeYear and I have always had an entrepreneurial spirit that runs through our collective veins.
I grew up as the daughter of a small-business owner. Although my dad was a pediatrician, he was also the owner and operator of his practice, and I grew up listening to him talk about managing his business for ultimate profitability. He was great at utilizing available resources to help him grow his practice in an extremely poor region of the country (rural South Carolina). Seventy-five percent of his patients received Medicaid, and despite the very low payout rates for those patients, he applied for government subsidies and programs to not only allow his business to survive, but to thrive. When he sold his practice a few years ago, he had over 14,000 pediatric patients in a town of only 4,600 inhabitants! Continue reading “The History of Our Side Hustles”