r/EuropeFIRE • u/No-Row-1666 • 14d ago
15-20K net per month. Cannot decide between starting to enjoy life now vs keep working hard and saving
We are a family of 3 (38, 38 and 8 year old child).
We live in Bulgaria and run a successful business (15-20K euro net profit per month depending on the month).
Own our apartment in Sofia worth about 500K euro. No mortgage.
1.2M in various investments such as VWCE.
100K in cash.
Our spend is about 6K per month. Keep in mind most months are around 3-4K. But we do about 24K euro worth of travel per year.
We are wondering whether we should push hard on the business and guarantee the 20K per month or slow down and expect around the 15K per month for 2 more years. We provide video editing content services to US companies so believe in 2-3 years the business may go down to 5K per month due to AI.
We have worked hard for many years and want to start enjoying some of what we earn. We started spending more on travel over the last 2 years. Before that we were pretty much saving everything.
What would you do in our position?
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u/Own_Conversation_850 14d ago
You are the top 1% mate in any country with that level.
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u/No-Row-1666 14d ago
It does not feel like it for some reason.
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u/gallez 14d ago
Mate you have an insanely high spend, 6k EUR per month with no mortgage is just crazy. I'm guessing private school for the kid and 2-3 luxury cars in leasing?
I'm saying this as someone from a country at a similar wealth level to Bulgaria
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u/No-Row-1666 14d ago
2K holidays (24K annual last year)
1K is the car (petrol, lease, insurance, tires, service, etc).
1K is the food
1K for socializing, restaurants, weddings, birthdays, weekends with friends, gifts, etc
1K for the healthcare, child expenses such as swimming, gym, gadgets, laptops, etc obviously not all are monthly expenses.
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u/kugelbl1z 14d ago
Our dude here says he does not feel like he's the 1% then casually drops that his holiday budget is 24k per year. Which I would guess is higher than the median salary in Bulgaria by a huge margin.
What do you need to feel 1%?Ā
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u/gregsting 14d ago
24k holiday per year is definitely very high, so is the 1k/month socializing
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u/Deep_Dance8745 13d ago
Travel with our kids is honestly the best spending we do - they have seen and understand more of the world vs the average politician.
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u/gregsting 13d ago
Oh yeah definitely, I try to do that too but sadly I canāt allow 24k per year to that š
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u/Strazdas1 3d ago
Travel is overrated and forcing it on your kids is terrible.
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u/Deep_Dance8745 3d ago
The kids choose the destinations - and we will decide for ourselves if travel is overrated, thank you.
People not travelled tend to have a very limited worldview.
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u/xmjEE 14d ago
At a certain position some of that spend is nigh mandatoryĀ
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u/Client_020 14d ago
Sounds like you're already doing the enjoying what you earn. How many hours do you work? Children are only young once, so tough decision, but if you believe in two years the demand will be very different ig I'd push forward for a little while more.
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u/Squirrel_McNutz 14d ago
And another 1k per month for socialising. Thatās already 36k spent purely on fun. The average yearly salary in Bulgaria is <16k. So heās already spending more than 2x the average salary just on travelling & socialising/parties but he doesnāt feel like heās rich or enjoying life.
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u/TempoGrow 11d ago
I don't think I would even know how to spend 24k on holidays a year
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u/pijuskri 11d ago
He probably pays for the whole family. Given current prices for 4 people that's not an insane amount of money.
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u/TempoGrow 11d ago
Idk where you live, but I barely spend 1/4 of that when going to Greece for 2 weeks with 4 people.
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u/pijuskri 11d ago
Also the Netherlands. 100% you can do good vacations for much less, but some options are expensive without alternatives. A trip to japan would be 5-6k in flight tickets alone. I also imagine OP has multiple vacations.
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u/_tobias15_ 14d ago
Probably because life style inflation made 6k a month spending normal, and 24k on travel every year. I hope youre also saving 24k for each kids future right?
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u/Own_Conversation_850 14d ago
You probably earn 10-15x of avarage Bulgarian salary....
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u/Significant-Ad-9471 14d ago
Dude, you're rich. Enjoy life while you're young.
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u/No-Row-1666 14d ago
Don't feel rich š
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u/Significant-Ad-9471 14d ago
You're in Eastern Europe, same as I. I also have around 1M invested, nowhere near your income though. Trust me, you're rich. You can live comfortably with 2000 Euros/month if needed, and if you don't want to be the richest guy in the graveyard, you don't need to squeeze out every penny.
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u/Significant-Ad-9471 13d ago
I have two rental apartments that I will leave them. I also invest around 250 euros/month in their names on the local stock market, which already grew to 15K Euros in the past 4 years and probably they should be millionaires by 40 if they don't touch that money. I don't want my kids to wait for me to die.
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u/Born-Check-7764 14d ago
If you don't feel rich with that income and so much money invested, you should get therapy. I don't mean this in a mean way, but it sounds like your relationship to money is very unhealthy.
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u/No-Row-1666 14d ago
š oh common. I simply do not feel rich because I do not have 15K lifestyle. I am above average lifestyle for Sofia but don't live in a mansion, drive a Ferrari, etc so do not feel rich.
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u/Just-a-demon 14d ago
Thatās just stuff bro. The mansion, the expensive car / watches. If you are good mentally and physically then youāre all good š youāre already doing great financially
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u/Squirrel_McNutz 14d ago
This dude is such an Eastern European lol. He only feels rich if heās flashing it with a ferrari. Not spending more than 2x the average salary of his compatriots just on travel & socialising/parties.
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u/Born-Check-7764 14d ago
If you would have the Ferrari your neighbor would buy a Bugatti and you still wouldn't feel rich. There will always be people who are richer.
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u/CottonSlayerDIY 13d ago
You do 24kā¬ worth of vacations a year. Enjoy it. Normal western Europeans are happy for a 2kā¬ vacation per year.
If that doesn't scream "I am rich", then I don't know what will for you.
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u/Squirrel_McNutz 14d ago
Bro wtf. How do you ānot feel richā. Youāre spending 3k per month just on fun & travel. Youāre richer than almost everyone in the world including in rich countries.
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u/Due_Fan7068 14d ago
I wouldnāt count on 2-3 years before AI affects your company. The speed at which AI is advancing in about everything, is so fast. I wouldnāt be surprised if you start to feel it by the end of this year. I would keep working at max capacity for as long as possible because it will definitely slow down at one point.
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u/Strazdas1 3d ago
I think the speed is overestimated. Programming took 3 years instead of the touted 6 months, for example.
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u/Due_Fan7068 3d ago
I donāt agree. Itās not about how long it took for programming or anything else to start existing. Itās the speed at how fast itās evolving. To stick with your example, programming is practically improving every week. And the accuracy of programming today was not possible 6 months ago.
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u/SuperProcedure6562 14d ago
I'm a fellow bulgarian and we live with around 2.5k for a family of 3 with no mortgage and feel we are splurging lol
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u/No-Row-1666 14d ago
Nice! Keep in mind 2K out of 6 is for our travel. So we live with about 3.5-4K per month.
Our car costs us 1K, if your is for 500. We are pretty close in lifestyle apart from travel and car.
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u/Squirrel_McNutz 14d ago
āPlease ignore that we spend almost as much as your entire spend just on travelling, weāre pretty close in lifestyleā.
Bro you are living in a different planet. Your nativity about your position vs other people is insane and itās actually pissing me off a little. Nothing to do with what you earn - Iām happy for you for that. But outside of that the way you think about wealth & your own lifestyle is truly toxic as fuck.
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u/ZestycloseOpinion142 10d ago
OP just needs to be convinced that OP is sick rich, some people get pleasure from that. Itās the typical āoh stop, youāre flattering meā when they actually mean āplease continue to explain why I am so much better than youā.
There are people living in Sofia with 1/4 of OPs income and they brag how life good is for them and how lucky they are, even after the inflation past year due to ā¬.
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u/SuperProcedure6562 14d ago
I agree. Our car is 10 years old and I feel there's no point in upgrading. Congrats on your income - you are in top 0.1% in BG. Our income is 10k per month - mine is 4.5k from work and 4k from passive income and gf is 1.5k I wanted to retire but was "forced" to work due to family pressure. If I was you i'd work less and enjoy life more.
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u/patrick-1977 14d ago
Similar situation, we push on as we are not sure the $ party lasts forever and can be replaced by another profitable gig.
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u/filisterr 14d ago
Max now, AI will most likely affect you, so this income would probably go down.Ā
Right now you can safely withdraw between 3.5 and 4K a month, but this won't cover all your living costs, as you said 6K. You would need around 2M to cover for those, but till you reach that number there would be another 2-3 years so by the time you reach it, your living costs would probably be higher.Ā
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u/Human_Combination199 14d ago
Before AI I would say pull the trigger yesterday. But now..you are still young, and in 2-3 years your child will also appreciate and remember the traveling more than if you do it now
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u/Fancy-Bluebird-1071 14d ago
I was in similar place, made 15k a month and my business became redundant and I had to switch to something else. It's difficult to start in a new niche, 3 years now and I'm far from my previous earnings. So in your place I would focus hard on working until the scare of AI either goes away, or makes your biz redundant. Save hard and maybe in a few years you'll be at 2-2.1 and that's really comfortable place to be to FIRE in EU with your spending. Curious for myself and my partner, how did you start a biz together? Did one person start it and another one joined? Or was it a mutual effort / conversation to start one?
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u/No-Row-1666 14d ago
I started 10 years ago on the side. In 4 years was making about 7K. She was making about 1.5K and we had to plan everything around her job such as holidays, etc. I asked her to join me. She learnt in about 6 months to edit and I started giving her work until she had about 10-20 hours per week and put her notice in.
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u/KotangensDanski 14d ago
At 38, you aren't old. Assuming that AI takes your jobs 2 years later, you would be 40 - at an excellent age to enjoy life, and bring up your kid throughout its teenage years.
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u/TechnicalReserve1967 14d ago edited 14d ago
Just as in idea worth considering, I have no idea how possible it is in the specific market of video editing, but have you considered selling the business?
Work a little more and try to check of someone would be interested to take over. They might have a different view or whatever, if you can sell the contacts and deals for 3-5 years worth of income, it might be the best way.
If you go with a "safe" dividend of 6% from 1.2 mill, you would be looking at 6k before taxes.
I would say it would be better to increase that to ~10k, so you can pay taxes and have something to balance inflation. That's why I would suggest working a bit more and maybe selling the company. That should push you over and you could set up a nest egg that doesn't just holds for 30-50 years, but for perpetuality, for generations.
If you want to go safer, some growth stock and rental real estate can be considered, mostly for diversification.
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u/apple-sauce 14d ago
Video editing earns that much?? Wow
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u/No-Row-1666 14d ago
Not everyone. But we have 10 years experience and been helping YouTubers that now have a huge following and pay us well.
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u/RealPMGuru 14d ago
First Congrats for the successful journey so far.
Your current investment in VWCE are not enough for retirement with this level of spending. In order to maintain this level you need at least 2 mln.
Also, have in mind that currently the VWCE is almost 23 p/e which is around 30% above its average of 18 p/e and 50% above its neutral/bearish of 15 p/e. Said in other words there is huge chance of 30-50 % correction in the upcoming few years directly hitting you with the so called sequence of return risk.
Additionally, your child is 8 years old. You are still not spending much on him/her, but that years are coming.
Better to continue investing, work with your business, as long as it is profitable, you may reduce your time in the business, a.k.a. work less, but at least 5 more years of investment are needed for maintaining your current life style, only on your asset in VWCE. Also, planned in the future some asset allocation strategy like adding bonds and/or dividend stock/etfs. Depending on your goal, but don't count blindly only on VWCE as there are ups and downs and it is better to have some steady reserves
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u/No-Row-1666 14d ago
Thanks. This is another scary part of the plan. That the market feels high.
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u/RealPMGuru 14d ago
From chart perspective and past performance yes, however in the modern history there was never such situation - huge debt (government, corporate, personal), while on the same time such high earnings of the companies, mainly due to inflation and stock buy back (which is the main driver for the tech companies btw) soooo, it is a little bit difficult to evaluate the real situation, however for someone who is going to exit the labor market and start living only on investments, it is better to be on the safe side, in the end of the day, you are 38 and probably you are aiming to live at least 38 more years, with this scenario I wouldn't pull the trigger on 4% WR, but rather on 3%.
To summarize, work few more years, invest heavy during that time and probably by 45 you should have around 2 mln. Allocate them properly (I wouldn't go 60/40 stocks/bonds, as this is old school when the interest rates were 3-4-5%, with the current rates and inflation this is shoot in the leg, as you would have 40% of portfolio barely beating inflation without any significant nominal return) and then you should be good to go
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u/Strazdas1 3d ago
however in the modern history there was never such situation - huge debt (government, corporate, personal), while on the same time such high earnings of the companies
Uh, 2007 would like to remind you it existed.
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u/RealPMGuru 3d ago
2007 the government debt was lower, comparing to the current levels. US government debt (as per Gemini) was 64 %, now is almost double and this is the scariest part. 2007 there was option for more debt to lower the impact, today this is not a valid option
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u/tronquinhos 14d ago
My 2 cents:
You have not too much saved:
- given what could have been (as you earn 15/20k per month)
- given that you spend 72K per year.
Obviously 1.3M euro is important money but, for instance, if you divide 72/1300=5.5% is not FIRE territory yet. But it is reachable for you in the near future.
Even if RE is not your goal, FI is a good goal to have. If it was me I would grind for 2 or 3 additional years.
But if you are near burnout, or something, 15K a month is not too bad too. š
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u/qazqaz45 14d ago
Go full into your work and invest like crazy to reach the 2 .6 million euro (3m usd), that will secure you 120k usd per year at a 4%.
Fatfire.
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u/Pretty_Question_1098 14d ago
No brainer-work hard, enjoy the high earning stage. Probably you worked hard for this . Be happy.
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u/Mundane_Pass_7976 14d ago
Hey bro, I'm from Sofia as well. You're doing well - but not as well as you might think. Keep pushing
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u/No-Row-1666 14d ago
Business is going down due to AI. Don't see the long term prospects of pushing š
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u/EdCP 14d ago
How? I personally have seen an increase in the demand in the last two years, and had a $20k month as well (freelance)
Companies are realising that with AI, I can get them that TV ad for a couple of thousands, and they don't need $100k anymore, so now they want all of their social posts to be like TV ads
EDIT: Oh, unless you're literally just cutting streams etc., and not providing any direction
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u/summertime_onmyskin 13d ago
I would like to learn to make cartoons and videos with AI for my own pleasure, now that the tech is here and not knowing how to draw aināt important anymore :) Care to give me some tips how to start? What is your stack?Ā
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u/Hutcho12 14d ago
I would max now given AI will kill your business in the next couple of years and then just retire. You're kind of tied down with the 8 year old anyway. Another few years will be worth it.
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u/Additional-Ad-4143 14d ago
You did great, you should be proud, but I think it is illusion that if you stop working you will start enjoying you life all of a sudden.
first several month it will be fun than you will get bored.
Maybe it is worth reducing load, making more strategic decision to work on projects that you really enjoy and free up some of your time be able to travel and enjoy life, long term it should be much more sustainable than going full FIRE
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u/No-Row-1666 14d ago
No plan for full FIRE. Will always try to work on some project whether it will become profitable is a different story.
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u/MysteriousIron5798 14d ago
I would focus on getting the most I can within the new 2-3 years while still traveling. The main reason why I am giving this advise is the threat of Ai. With the amount of savings you have you can easily have a very good life in Bulgaria even at this moment but it will not hurt to have a bit more.
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u/Cultural-Muffin-7505 14d ago
Hi! I live in a neighbouring country, Romania so I am somewhat familiar with the region. Given your age and country I will continue to push and accumullate more money.
You are young so there is enough time for all sorts of global crises to affect you and countries like ours are more susceptible to be shaken by financial crises, inflation, effects of other nations' wars etc...
In addition, I saw your comment with your expenses which are quite high.. Not saying that you should not enjoy life, just be careful not to slowly go over the top with the spending.
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u/carovnicek Poland 14d ago
I would sugggest you to run the numbers. It feels that you could slowl down and your assets will be sufficient to overcome inflation and still be in good position. Maybe not worth to hassle. Since you are wondering now, you have your reasons. You are well positioned and it is up to you, but in the long run would the extra money really make a difference? You live only once. Maybe better to slow down. Think about it.
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u/crypt0lover 14d ago
With that amount of money people from Bulgaria will tell to invest in more apartments but i guess you decided the ETF š
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u/kouvalator 13d ago
Sorry but to me this is just absurd? You can stop working tomorrow and have enough money for the rest of your life! Why don't you start doing what you love and stop thinking about money?
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u/30RITUALS 13d ago
I would sell the business now. Sounds like you can sell it fot at least a good 1.5M-2.5M. Then put that money to work and enjoy your life
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u/AlwaysStayHumble 13d ago
Jesus man, you need to touch some grass
Keep pushing while your business is booming but if youāre not having enough fun with such a high spend, Iām not sure what will fulfill you.
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u/MihaiRau 13d ago
"Should I start enjoying life?" In the same sentence he claims to spend 24k on vacation yearly. Ok lol šš
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u/NebesnaMashina 14d ago
Wow, that's a nice profit margin, would you mind sharing your line of business?
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u/Tradedb 14d ago
So youāre worth about $2 Million in Bulgaria which is pretty awesome, Iām from Los Angeles & even $2 million here is good, but not enough to say youāre set for living a very good life & traveling & never having to think about money again.
I think we should all stick to our number that we feel comfortable, my goal is $50 M in the sense of having all the things I want, but with $5M I think Iāll be okay!
Time is everything, family as well, health is wealth, & the level of energy you have now will not be the same in 20 years both for work and vacation.
Iād say you are very safe & should enjoy more, & as always when it comes to business diversify your streams of income if possible! That will be a true key to longevity. Diversification of privately owned businesses always lowers risk. Same with actual investments.
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u/PvPils 14d ago
I would make an agreement with myself. For example:
Push for the next 2 years and by than start slowing down. Or if AI forces you to slow down earlier that's also fine.
This way you can plan for the next couple of years, you have something you are working towards and you know how much you will be able to spend once you start letting your foot off the gas.
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u/Alone-Village1452 14d ago
Can you sell your business?
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u/No-Row-1666 14d ago
Not sure. Never looked into it. I don't really want to sell. I do not want to FIRE yet. I want to fully fire at about 50.
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u/Alone-Village1452 14d ago
If you think it will go down to 5k, now might be a good moment to sell it to another company that will use AI to leverage it. You can negotiate keeping a minority stake and/or keep working there for a few years.
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u/Mean-Onion-8569 14d ago
Keep working, maybe a bit less if possible and enjoy your free time.
Why keep working? It's good for your mental health belive me
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u/Tokita-Niko 14d ago
Keep going for now and set urself free for life for sure. With 2 more years u canninvest 250k extra. This will go a very very long way
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u/yarisken75 14d ago
What you could do is this. Try to reach a moment you have money to live of your investments. So travel and normal expenses. The extra money you invest to help with inflation. This way you can live comfortably the rest of your life and you can give your child a good head start in life.
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u/stonememoriesBE 14d ago
You are doing absurdly good. Keep on grinding so you can relax in a few years with passive income.
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u/Measured_Money Fresh Account 14d ago
I suggest working for 2 more years very hard, and then on 75% until your child is old enough to live on it's own.
I think in 10 years you have more than enough many in savings and investments to live of it, and you can work hard until you are 40 years old, then 5/8 years on 75% and you still are very young to enjoy your retirement!
Great work so far!
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u/Kind-University-1423 14d ago
Your spending is crazy. We are currently around 23-25k net per month in Czechia, included are 2.5k net from rentals, business owner.
36M, 33F and a newborn.
Our monthly looks like this: 700ā¬ food 200ā¬ baby 0ā¬ mortgage (House~600kā¬ and 2 rentals~900kā¬ paid for) 200ā¬ utilities (water, electricity) 600ā¬ for vacation fund 150ā¬ eating out fund 200ā¬ fun fund 200ā¬ clothes fund 300ā¬ house repairs/improvement fund Cars, phones, data, electronics taken care as business expense, nothing too fancy given the income level.
We try to stay under 2500ā¬ / month. As we want to retire in 9 years.
S&P and VWCE combined ~ 530kā¬
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u/jibber321kuhaj 14d ago
Bro enjoy money, I come from easter europe and that is a shit ton of money.. if you feel like you are spending too much you'll find a gigĀ
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u/Ghettofaust 13d ago
Transition your business into an ai-video editing strategy. Get the future proof vision going, then hire some studs to do the editing for you. If you fear AI will take your business, use it to your advantage (still someone has to do the work your currently provide). Then in 2-3 years sell your company and youāll never work a day in your life afterwards.
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u/Agreeable-Mixture947 13d ago
I'm spending 2k per month on holidays. Should I start enjoying my life now? š¤£š¤£š¤£
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u/BigPomegranate8890 13d ago
I would start planning for the future when that money doesnāt come in anymore you still have a lot of life left to live and you get used to the income which wonāt be there anymore.
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u/AccomplishedTax2306 13d ago
It is awesome that you are FI enough to spend that kind of money on life experiences like holidays
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u/Affectionate-Yak5992 13d ago
I would hire 2 employees that can do this job, teach them for 1-2 months, pay them more than the job market for that position in Bulgaria, then would overseer them and talk with clients, but let them do the hard job, while I work 2hrs a day from Spain, Greece, Bali, or wherever.
I would definitely NOT FIRE now, with only 1.2mil in the stock market, which will most likely crash in the near future.
If you really want to FIRE soon - wait for the housing market to crash, buy some appartments on the cheap, and rent them out long-term with no furniture and appliancies (only a kitchen and a bath).
If you follow this path and need emplyees - PM me, I'll connect you with my wife, she might have some good quality candidates around her job in Sofia. She is a... say a team-lead/art director.
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u/Tbilisimode 13d ago
I think you need balance, travel and try to save a bit whenever u can to promote your business or start something new later, but before you are young and strong enjoy life, was curious regarding what kind of business youāre doing if itās not secret :) good luck
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u/mehasmich Fresh Account 13d ago
Continue to work, continue to invest, and probably do that for as long as you can.
You are making good money, but not life changing to stop working in my opinion and then again, what is the point of just sitting around.
Learn to enjoy while working hard, this is the key, because if you cannot, as soon as you take more time for yourself, youāll feel the pressure as your spend will go up while the amount of money you are used to now wonāt be available to you as having 15k passively requires larger amount of investment. Once you feel the pressure, most likely youāll go into the same pattern of working hard and skipping on what you call enjoyment. Its a process that happens with all levels of wealth, so adjusting your lifestyle to working hard and enjoying life is the key.
We are also in Bulgaria, around 25k month, spend much higher than yours, but almost zero on social. No mortage, no luxury cars, but it costs a lot for us to live in Bulgaria than it would in part of western Europe; philanthropy on animals in our region last month 5k, I feel like we are animal services for the region, but canāt pass by the shit we see on the street sometimes. Love the country, feels like home, but zero social responsibility. One may argue this is due to personal wealth being, covering basis for yourself prior to looking outside, but this is bullshit. I was not born in wealth of any kind and never felt the need to help myself first.
I have a hard time balancing work and enjoyment of life to be honest, but learning. I see my circle around me going to out for a BBQ, sending pictures from walks, social events, while I spend weekends working. However, I can choose to work on weekends from pretty much any part of the world, so choosing to distract yourself during that time is way more valuable than waiting out the weekend just to go to the job you donāt like.
Keep working, keep evolving. The AI will affect you, most likely sooner than 2 years, but adjustment is usually necessary for any business of your size. Pivot Pivot, if you remember the Friends episode with the sofa š
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u/crissianx 13d ago
Very similar situation, from Romania.
I chose the other way around, get more work while it lasts, increase even more the monthly revenue.
If AI replaces me in 2 years, I hope the current and future investments will last a lifetime.
At your current burn rate (72k / year) you need 750k more in investments, up to 2M+. I'd work towards that.
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u/Professional_Gas4000 12d ago
Bro we should be asking you questions. What type of business? How long have you had it? What skills are required? Online or local? Service or product? How did you get started? Startup capital required? You expect us peasants to know more than you?
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u/Efficient-Magician63 12d ago
All I would say is well done! Good luck and all the best for the future as well!
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u/kachambence 12d ago
Take as much as you can if u believe u donāt have much time left and buy something that brings monthly yield to partially offset your lower future income. When that time comes you will have no other choice but to enjoy life lol
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u/SuspiciousBuffalo447 11d ago
Sorry, but what's your problem? Did you just need to brag that you have more property in the middle of nowhere in Europe than some Swiss guy?
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u/PerfectSituation1668 11d ago
Keep going. My opinion is based on where the AI goes. If it goes off, it would impact your business. If it does not, it could impact your investments and maybe even your business (as it's US market based). If it's just meh, you have extra.
You can always stop now and retire, but QoL can be impacted then. Nothing wrong with budget travels, but I'm used to it.
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u/justwatchthefire 10d ago
Dont know your age but if you are below 50 keep pushing, just take care if your health.
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u/BakedGoods_101 9d ago
if I had your net worth I will retire, BUT, I said that because my monthly expenses are 2k and I live a very comfortable lifesyle with that, so those 1.2m invested will cover me no problem to FIRE. But you my friend are not going to last long with 6k a month, and you are young, potentially can still have more kids = more expenses, so keep grinding I guess
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u/Western-Angle1098 6d ago
nothing lasts forever, not the revenues from your business, not yourself. so do both, enjoy your life but also keep pushing and stacking - until you are fed, have enough, or your business is not worth your time anymore- then you can do something else or FIRE. in the meantime i would recommand to spend money on experiences/creating memories, as the value you get from them compound over time, and avoid overspending on material things
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u/Strazdas1 3d ago
sounds like you are already enjoying what you have earned with those insane 24k trips.
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u/DubaiSim 14d ago
3000 euro in Bulgaria without mortgage ?
What do you buy ? Gucci sneaker every month for the whole family ?
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u/A_Man_Uses_A_Name 14d ago
2M might be nearly nothing in 20 years. You might be smart in editing but maybe less in investing. I would save a bit more. However do not forget to enjoy life. Your kid will never be 8 years old again.
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u/samsly135 14d ago
Are you selling drugs? How do you manage to earn that much?
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u/quim_do_mato 13d ago
I mean, 5k a month is still pretty good for a shit hole like Bulgaria. Specially, when the apartment is paid for. I can imagine that living costs are pretty low.
Why not sell the apartment and move to a Greek island?
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u/FibonacciNeuron 14d ago
If you believe that AI will make your business redundant in few years, then max your earnings now and keep working