Thanks for the input
@Freehold, and absolutely it is a big consideration being able to handle the sequence risk of giving up work and then immediately being hit with a bearish market.
No one wants to be collecting Woolworths trolleys from the carpark after a corporate role and that is exactly what can happen if one is out of the workforce for a number of years.
But then it is a dilemma, because when does one jump from the safe ship to the uncertainty of trading as a source of income? When does one move from what is bearable, but not your real life passion, when does one overcome the fear of failure and be as prepared as possible?
Like many things in life, there is no certain outcome and my wife had some wise words when I told her I was considering retirement. She said, "make sure money enough".
No pressure though.
The challenge is how to be as prepared as possible for anything the market can conjure up.
I will throw it open to others who have more experience and can comment. If you are trading full time, what do you wish you did differently, what skill set should you have had at the outset?
Is three years expenses in cash a large enough buffer or should it be more?
Should you have a second source of income, eg consulting, as a safety net?
(20min delay)