You got it, brotha! You said it best with this too – “what if I took my fate into my own hands.” So many people wait on others (or like complaining about things) that they never stop and realize it’s all on them. It’s much easier to never take action too, so I’m glad at your ripe old age you’re realizing some good changes need to take place! You figured it out almost exactly when I did – and I’m now 6 years older than you :)

Passive income is something I’ve thought a LOT about over the last couple months. To be completely honest with you, I am getting bitter and distrustful in my ripe old age of 28 (haha!). I work for an electric/gas utility, which is typically considered one of the “safer” sectors to be working in, but I could map out 10 different ways I could lose my job in the next year, not the least of which being a merger. I could also map out 20 different reasons why it’s unlikely that I’ll be able to stay in the same job for the next 30 years.

That came off more depressing than is should’ve. What I’m trying to say is that I think – for retirement or otherwise – building a passive extra source of income puts you at an extreme advantage. My generation typically doesn’t have pensions anymore, but what if I took my fate into my own hands and spent some of my free time throughout my working years and built up a passive income of a few thousand dollars per month or so?

So, to answer your question: I definitely expect some passive income in retirement. I don’t know how I’ll get it, yet, but it’s going to happen! If I’ve got $2.5 million in excess, maybe I’ll just retire in my 40’s! 8-)

At least you’re aware of the situation and working on improving it! That’s more than I can say for many people out there keeping their head in the sand. So keep going!

You got it exactly right – it was 100% for simplicity. I was tired of having everything spread out all around town and over time got everything xfered into one main home base – despite fees/etc. It’s really helped me out for YEARS this way, but now I’ve xfered out all my investments right into Vanguard to take full advantage and make more in that department. I”m still getting used to having stuff in *two* places now, but I’m hoping this sets me up for much bigger wins in the future :)

Here’s the post on it if interested:

https://eliteedgemoney.com/2014/04/say-hello-to-vanguards-newest-member/

Yup! Was just reading that over again the other day – those guys are crazy smart when it comes to this stuff, you’re right.

Laddered Roth Conversions will help you ‘touch’ that $ a little earlier than planned. The Mad Fientist/jcollins discusses this topic a lot.