We want out of the rat race and to spend more time with our kids who are 6 and 3. We both work in the NY Tri State area. I work in Operations whilst my wife works in HR. We have calculated that we need $5000 a month of passive income to quit our jobs and maintain our lifestyle. This is 4% of $1,500,000 and that is our goal. Have this amount in our investment account and we take back control of our lives.