Learn How to Quit Your Job and Retire Early
Today, I’m answering your question about how to quit your job and retire early. The first question to answer is, where will your income be coming from? Then you’ll know when you can retire early.
Don’t quit your job until you have a known revenue source.
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How Much Money Should I Save Before Quitting My Job?
The question of how to quit your job and retire early is challenging because most people have not figured out how much money they need to retire. That’s a big problem when the government is inflating the money.
At this writing, inflation, depending on who is counting, is between 8-10%. That means your money will buy 10% less this year than it did last year, and in 10 years, your savings account will be worthless.
Will your savings produce enough fixed income so that you can live as you do now or better for your remaining years, or will you need to supplement those earnings?
Social security will not provide enough.
Many seniors are even moving outside the United States to countries where the cost of living is considerably less because their nest egg is being depreciated by government inflation.
Can I Quit My Job and Retire?
Now, let’s talk about how to quit your job and retire early. It can be done. I will discuss Mr. B as an example. This is realistic and can be accomplished by the average person, however, it involves a “side hustle” which requires some learning to accomplish.
The brilliance of what I am about to reveal is this is a cash flow process that can be growable if you need more money. This is 100% under your control.
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How Can I Retire Early? – A Solution
A brief introduction is necessary at this point. The income vehicle that I am discussing is real estate, actually, a subset of traditional real estate, which is properties that are tax delinquent. The owners have failed to pay property taxes.
The state government will not allow property owners to default on taxes without consequences.
The treasurer will:
- Seize the tax delinquent property
- Advertise on the county website and in the local newspaper that the property is up for auction
- Resell it at a public auction to the highest bidder
- Use the revenue to pay the delinquent taxes.
To facilitate a quick sale at auction, the treasurer will discount the property as much as 60%, 70%, or 80% below the tax assessed value.
Imagine buying a slightly used and abused property for 10 cents, 20 cents, or 30 cents on the dollar.
Auction bidders who have business savvy and training are buying for as low as back taxes.
Quitting Work Before Retirement Age Via Alternative Real Estate Investing
I’ve been actively teaching others this process for approximately 30 years. Let’s discuss a typical cash flow generator, and we’ll use Mr. B as our example.
The local county wants to recoup the property tax on a single-family home valued at $120,000. The treasurer wants the delinquent back taxes as the minimum.
To accelerate the sale, the county is willing to accept lower than market or tax assessed value. Let’s assume the starting bid is $8,500.
The highest bidder will receive a deed to the property, and the county will issue a sheriff’s deed or maybe a quitclaim deed.
The highest bidder turns out to be Mr. B, a savvy auction buyer who realizes that he can resell or rent the property and receive income.
Though the starting bid was $8,500, other bidders raised the price, and the final bid was Mr. B’s at $30,000.
How to Quit Your Job Immediately by Creating Passive Income
Mr. B wants to retire early, which requires income. His strategy is – buy the property for a low price and resell at a price below market.
He advertises on Craigslist, eBay, Zillow, the Multiple Listing Service, and many other electronic sites. He paid $30,000. His asking price is $60,000, and the tax assessed value is $120,000.
Mr. B is willing to accept monthly installment payments with only a 15% down payment ($9,000). He will use a commonly used document referred to as a land contract and promissory note.
The promissory note will require the buyer to make monthly payments of principal and interest, then at the end of 10 years, Mr. B will award the new buyer a deed to the property.
The buyer must pay Mr. B a $9,000 down payment and monthly payments for 10 years.
A Repeatable Way to Earn Passive Income to Retire
Let’s do the math:
- Mr. B purchased at auction for $30,000.
- He receives a $9,000 down payment
- The contract for deed states the buyer will pay $800 per month or $9,600 annually for 10 years.
Over 10 years, the installment payments amount to $96,000. Add in the down payment, and the total comes to $105,000. All of this on a $30,000 investment!
Certainly one side hustle makes a big difference, as Mr. B is receiving an extra $9,600 a year for 10 years.
Since the process is repeatable, similar transactions could be made each year for a number of years.
How to Quit Your Job and Retire Early: Conclusion
We hope you enjoyed Ted’s lesson, “How to Quit Your Job and Retire Early”
If you want to know how to quit your job and retire early in this day and age with inflation on the rise, the ultimate solution is financial independence.
You need to learn a repeatable way to generate cash flow and steady residual income if you want to be truly financially secure.
Ted has taught thousands of people how to become financially independent with tax defaulted property investing, purchasing mortgage-free real estate at county auctions for pennies on the dollar and reselling the property quickly at below market prices.
If you’d like to know more about how to quit your job and retire early by achieving financial freedom through tax delinquent real estate investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!
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