55 years old looking for some advice on passive income and retirement.

Congrats on your financial success so far, $3.5M at 55 is great.

Here is what I would recommend, after 30 years in sales, do you feel burned out from sales? Do you have constant stress? I left sales to try and enter corporate strategy, and my first stepping stone is organizational development. I’m much happier now vs sales. So it’s important to check and assess your mental health.

You spend $20k a month, so $220k annually. I assume you want to maintain this lifestyle. The first step is to get that cash into investments like an index, you need $5.5M for that 4% withdraw rate. Yes we are at all times highs in the market, and yes it will go higher because inflated dollar and economic development continues to happen. Cash is trash.

Your passive income is dividends and capital appreciation from the $1.5M. You just must accept the volatility of the market.

I believe you are using passive income idea to cope for the unsustainable job stress you have. Find an alternative job even if you have to take a pay cut. Your wife can fill the gap in earnings.

The top priority isn’t retirement or passive income. The priority is you not kneeling over and dying stressed out from your job, it’s a real thing. Find a corporate recruiter or head hunter, put yourself into the market to find another job after a 6 month break. Trust me, companies need sales managers or leaders right now, we are in the early stages of a super economic cycle. Alternative jobs exist and may pay higher, I got out of sales and now make even more money. Believe it or not, companies love people with commercial experience and problem solving experience and tenacity/persistence. A combination of reduced spending (increased savings %) and a new job will save your mental state.

Source: 33 year old, spent 10 years in sales, burned out from anxiety and stress, depression etc. $1.5M NW, fully vested, $190k income in org development, expected to top out at $240k in 4 years.

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