[whizzard]

May not be too appropriate to reveal the actual numbers but it was a painful cut.

I am now at 1/3 of what I used to earn on an annual basis. Though my base salary is approximately similar, I don't think they will be able to pay me the bonuses I used to get paid.

Well, as the Chinese saying goes "If your horse dies, you come down and walk".

Now, what is really important is to build my passive income up. In the past, the formula was:-

Passive Income + Salary > Total Household Expenditure

Now, the formula is:-

Passive Income > Total Household Expenditure (without lowering living standard, bearing in mind that inflation will drive up household expenditure)

Got to find ways to generate more passive income to compensate for salary, which can be transient.

My personal goal is to generate $500k - $1 mil in annual passive income. I will then seriously think of just quitting the ratrace. Its easy when you have loads of capital e.g. $10 mil, which means a steady 5% to 10% returns.

But, the tough bit is, when you don't have that much capital and you don't want to leverage unless absolutely necessary, how to get a steady $500k p.a.?

That's my quest for this year. And, if I do find the answer, I will also need to find the answer to what will I do with my free time instead of sitting at home and doing almost nothing if I quit my job.