After our first trip, it was pretty obvious that while mobile income is a good thing, passive income still needs to be our goal. If we want to be able to travel as we’d like to without being tethered to schedules and internet, we’re going to need to do better!
Right now our location is flexible. Dad also has flexibility with his schedule but still needs to work at least 40 hours a week and be available for a daily team meeting. This is a massive improvement on where we were a couple years ago, but we know we can improve on this.
So what are our plans? What passive income we have now comes primarily from real estate. We’re hoping to send extra earnings in that direction too. We have a good property manager and have had no problem keeping the unit filled with tenants over the last few years. We earn a pretty good rate of return and our equity in the place continues to grow.
But we’re finding it hard to prioritize. When we do have extra cash after paying the bills, how much do we put into the investments vs the house vs travel? How to choose? Where’s the balance?
It’s a nice problem to have! We know we’re very fortunate to be in the position we are, but we aren’t giving up on our ultimate dream. We know what we need to do and know we can do it so we can get to a point of traveling without having to spend so much time working, hopefully long before our son becomes an adult!