Goal is obviously financial independence!
I (M25) am currently working 55-60 hours a week. I am struggling to enjoy the work and struggling to handle the stress of this job mainly because of the hours. In short, I am starting to burnout. I honestly think I could handle the stress and would very much enjoy the job, if I was only working 40-45 hours... Beyond that, working this many hours makes it hard for me to focus on my wife and son as much as I want to and feel I should. It also means few hobbies and not much of a life outside of work.
We are currently investing 11% into a Roth 401(k) S&P fund with the employer matching 4%. Due to my age, we'll likely only need to go a couple more years like this and we'll be able to retire reasonably comfortably at 65 with no more contributions.
What I can't figure out is what I can or should do so as to be able to cut my hours or even retire before 65. It seems wasteful to not continue increasing our Roth 401(k) contributions until that is maxed out so as to capitalize on the tax advantages. However, we can't touch that money until 59 1/2 without some steep fees... I would like to get to where work is something I do not for the money but for something to do so as to transition into full retirement slowly. At this point, I don't have a lot of time to pour into a side hustle and its really really hard to justify cutting back in hours to work on a side hustle since I get paid double time after 45 hours. Also, very frankly, I don't really have any inspiration for a side hustle... Depending on the side hustle, I think I would enjoy having a side hustle that I could potentially build up to become our main income.
Should I consider a new job? (This is a very stable job and I do love the type work, just not the amount...) Just keep going as is? Side hustle advice/ideas? Investment suggestions? Just feeling a bit lost on what I should do?
(Concerning side hustle ideas, I enjoy cars and tech, although haven't gotten into either of those much beyond what I NEED due to lack of time. I think I'd enjoy remodeling/updating houses with my wife but not quite sure how to get into real estate beyond our primary house? And I would love to get a boat but I don't really see that as much as a side hustle as just an expensive hobby once we're better off.)
We are blessed in that we have enough extra to be worrying about investing etc instead of always worrying about how we are going to manage to put food on the table. However, I just feel very lost on how to best capitalize on this current blessing so as to become completely financially independent.
I (M25) am currently working 55-60 hours a week. I am struggling to enjoy the work and struggling to handle the stress of this job mainly because of the hours. In short, I am starting to burnout. I honestly think I could handle the stress and would very much enjoy the job, if I was only working 40-45 hours... Beyond that, working this many hours makes it hard for me to focus on my wife and son as much as I want to and feel I should. It also means few hobbies and not much of a life outside of work.
We are currently investing 11% into a Roth 401(k) S&P fund with the employer matching 4%. Due to my age, we'll likely only need to go a couple more years like this and we'll be able to retire reasonably comfortably at 65 with no more contributions.
What I can't figure out is what I can or should do so as to be able to cut my hours or even retire before 65. It seems wasteful to not continue increasing our Roth 401(k) contributions until that is maxed out so as to capitalize on the tax advantages. However, we can't touch that money until 59 1/2 without some steep fees... I would like to get to where work is something I do not for the money but for something to do so as to transition into full retirement slowly. At this point, I don't have a lot of time to pour into a side hustle and its really really hard to justify cutting back in hours to work on a side hustle since I get paid double time after 45 hours. Also, very frankly, I don't really have any inspiration for a side hustle... Depending on the side hustle, I think I would enjoy having a side hustle that I could potentially build up to become our main income.
Should I consider a new job? (This is a very stable job and I do love the type work, just not the amount...) Just keep going as is? Side hustle advice/ideas? Investment suggestions? Just feeling a bit lost on what I should do?
(Concerning side hustle ideas, I enjoy cars and tech, although haven't gotten into either of those much beyond what I NEED due to lack of time. I think I'd enjoy remodeling/updating houses with my wife but not quite sure how to get into real estate beyond our primary house? And I would love to get a boat but I don't really see that as much as a side hustle as just an expensive hobby once we're better off.)
We are blessed in that we have enough extra to be worrying about investing etc instead of always worrying about how we are going to manage to put food on the table. However, I just feel very lost on how to best capitalize on this current blessing so as to become completely financially independent.