Is it worth 3 more years of work to transition from coast fire to fat fire?
I'm 46 and currently making around 950k in my construction business. I found this niche about 5 years ago and it's extremely stressful, but great profit. I've invested about 600k per year in real estate and developing the properties here in Southern California for the last 4 years, which doubled the value across these 4 properties. My profit now supports my 20k per month lifestyle (which is separate from the 950k).
However, I'm hoping to live a bunch more years, and my wife and I may decide we would rather spend 35k per month in the future. My savings are only around 1 million currently, but my properties are extremely stable and in good areas, so I'm not to concerned about that part of my income.
I currently have additional savings to pay for my 2 kids to go to college, and I would like to pay the downpayment on a house for each of them in 5-7 years.
The other big part of this, it's that only about 10 years ago, we had combined income of 150k. So I'm afraid I'll regret giving up on this big opportunity I'm currently in.
My current properties are valued at 8M, with 4M in equity. I add units to single family and small multifamily
Thank you in advance for your incite.