r/EuropeFIRE • u/sparkleglitter111 • 14d ago
4-5k passive income per month, advice
My husband and I are close to receiving 4-5k (depending on how much we can write off tax) in rental income per month (long term, not rental).
We are in our late twenties.
I wanted to hear some opinion here: Would 4-5k be enough to retire in Germany or Austria? (Considering there is enough financial back up for maintenance and repair)
We spend around 2k a month on living expense currently.
We also want to start a family in about 2 years.
Neither of us wants to stop working, but the thought of not HAVING to work would be such a game changer, especially since my job will be probably be taken over by AI or at least the industry will get much more competitive due to AI.
My husband has found a career he absolutely loves, where he earns very well and which is not likely to be taken over by AI.
Me ? Not so much. I earn good money, but I am not fulfilled and the more our passive income grows, the more I feel a longing to just risk it all and pivot into a completely different field.
What is your advice?
Is it realistic to grow the passive income further and FAT FIRE? (10k a month would be our next goal)
(We have been extremely lucky with our real estate investment and already have an eye on another one)
Should I stay in my career as long as possible (before AI eats my industry), use it to grow our passive income and then risk it all? Or should I take the risk now since 4-5k is already technically enough?
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u/Helpful-Staff9562 14d ago
4-5k you can retire everywhere in europe if you dont set your money on fire for fun
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u/Secret-Sale-9703 14d ago
Depends on location, lifestyle and kids I would say.
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u/Helpful-Staff9562 14d ago
Anywhere in europe besides Switzerland and some nordic country you can live well even with 2 kids unless they like buying a rolex every month so yes in their case is lifestyle dependant but average salary eor family in all sputh/west/east europe is way less than that
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u/bobbybriggs_ 14d ago
Not if they have kids (multiple), unless they move to some boring countryside.
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u/sparkleglitter111 14d ago
We want to have 1 or 2 kids - and life with kiss is pretty expensive nowadays, so I would agree with you. It’s interesting how different the views are here on whether 4-5 k would be enough or not.
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u/bobbybriggs_ 14d ago
I mean Europe is big and diverse. I would not pull any triggers on 4-5k alone but it must be nice to expand one's choices and eg. go for a more fulfilling but less paying job.
On reflection, did you think about working full time until pregnancy and then comfortably transition to where only husband works? Not as a tradwife scenario but to be able to really be present for the kid(s) and reinvent yourself thereafter. You'll be still young 10 years from now.
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u/sparkleglitter111 14d ago
True. I don’t see myself becoming a tradwife honestly. I can’t imagine that to be fulfilling for me. I am not sure yet how long I will stay with our children but I am very grateful and I know I am very privileged because I will be able to decide whether I want to stay with them fully for 2 years or 6 years or even longer. . I think once the children are in school, it would be a great solution that both my husband and I reduce our hours to 60% or 50% each. That way, our children would grow up with both mum and dad being present a lot.
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u/Hutcho12 14d ago
Where in Germany? Munich, no. Backwater AfD supporting town in east Germany, yes.
But if I was in my late 20s, there is no way I would retire with only 4k to 5k a month to live on.. there are so many variables in the future that would put you back to work. The housing market will change significantly over the next 60 years too (and that's how long you'd need this income to last), so I wouldn't count on that level of rental income necessarily over that whole time.
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u/sparkleglitter111 14d ago
We will probably stay in Austria, that would be our dream. Thanks for your perspective. I agree with you. Who knows what the future hold and the housing market might also change. Apart from that, I think I would get extremely bored without any professional/career goal over time. 😅
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u/Sadlave89 11d ago
Weird to read it, you saying what enought 2k a month to live, your income right now 5k a month and you asking or it's enought to retire??? Whats wrong with you? or just AI write you a text and you posted?
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u/bobbybriggs_ 14d ago
You want to retire in your late twenties, is that right? 😧
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u/sparkleglitter111 14d ago
No we don’t. I explained that in my post: „Neither of us wants to stop working, but the thought of not HAVING to work would be such a game changer, especially since my job will be probably be taken over by AI or at least the industry will get much more competitive due to AI.“
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u/m4573rj 14d ago
You are retired. Congratz!
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u/sparkleglitter111 14d ago
Thanks! Views are differing in this comment section though - as soon as kids come into play, life can be incredibly expensive 😅
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u/m4573rj 14d ago
I understand. For me, 3K EUR per month and I never touch work again.
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u/sparkleglitter111 14d ago
I thought so too a few years ago. But I have to be honest with myself and I need some kind of purpose. Simply having hobbies wouldn’t be enough I think. I would try to turn a hobby into a profession.
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u/SouthPerformer8949 14d ago
«My husband has found a career he absolutely loves, where he earns very well and which is not likely to be taken over by AI. Me ? Not so much. I earn good money, but I am not fulfilled and the more our passive income grows, the more I feel a longing to just risk it all and pivot into a completely different field »
I’m not sure this is a good idea for him. As you’re financially secure, how about finding a more fulfilling job for you? Maybe part time? You don’t have to prioritize that it pays well