How would you turn a $300k job and $100k into early retirement?

[Aaron Lietz]

This post is inspired by another one I saw called "How would you turn $500,000 into 5 million in 5 years?". I would like your thoughts (and I would especially like thoughts/advice from those who have met or exceeded the below goal). 

I am 40 years old with a career that pays $300k/yr (but I work about 60 hours per week - 6-7 days per week). I own one home (which I live in), and have $100k+ cash in the bank. My goal is to "retire" in 6-8 years with around $10k passive income. If you were me (given my current time constraints right now) in this market (in the Phoenix, AZ area) how would you meet this goal? 

[Andrew Hogan]

Great question Aaron, $10k / month would need 1.2 million of equity earning 10% or about 1.7 million equity earning 7%.

I think your first step is to educate yourself thoroughly on different passive investments that produce consistent income. From there you'll need to learn how to evaluate managers/sponsors of those types of assets. Doing this will greatly reduce your risk of losing capital. Mitigation of that risk should be your main focus.

Good luck!