Golden handcuffs officially removed

[Todd Powell]

I posted months ago about my plans to leave my high paying W2 position, and COVID did this for me last month. My employer never liked that I had rentals and also flipped some properties, but the truth is he had talked about selling his business for years which only fueled my fire more. So, today I ponder my next steps as my hand was forced, but I am excited at 52 1/2 that this came a couple years early. Its been 31 years in the car biz, straight out of college and its not a minute too early. Like eagles, they force their little babies to leave the comfortable nest, and sometimes getting kicked out makes you learn how to fly. I manage 16 units, four 4 plexes, and have 50/50 ownership in a 8 plex, and a minority ownership in a 72 unit college campus unit. In my earlier post, I talked about my stock portfolio but it has dropped $200,000 this last 45 days although coming back somewhat.

So, whatever is holding you back, learn how to fly. Get out of that comfortable nest, and follow your dreams. I am forced to now and the golden handcuffs are forever gone !

[Jim K.]

Very different POV myself. I have maintained my W-2 job for the last few years out of a general sense that banks loan money easier to DINKs who are both employees. Rental income is nice, but banks LOVE having those W-2s in the file.

My job has laid me off and because my job is based on what happens in the world, not here in the USA, it's going to be a while. So I'm getting my PA unemployment, which is half my normal paycheck, plus my pandemic unemployment bump of $600/wk. Nice $$$ for butt-sitting. My wife, on the other hand, is treating COVID-19 patients and not getting a penny more than normal. Sure, people call her a hero, but as far as money talks, apparently heroes work cheap in America.

This would be hurting my marriage if I wasn't using this time to work on our properties. It's a slap in the face of the people who are keeping the wheels on the bus. But before you ask, I'm not giving my pandemic nut back.