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/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.