PROJECT 2028
The Mid-Year Wheel Strategy Update
Project 2028
By Early Retirement Earl | [ ACCESSING PROJECT 2028 ARCHIVES… ] ENTRY: ISSUE SIX
My Freedom Countdown Clock [Month 18 of 24] – July 1, 2026
Disclaimer: I’m not a financial advisor. I’m a retail worker who spends my breaks calculating Greeks and my home life being a dad. I’m sharing my ledger, not giving advice. Talk to a CPA before you try to trade your way out of a job.
[ PROJECT 2028: THE MISSION BRIEFING ]
- STATUS: 17 Months into “The Bridge”
- TIMELINE: 549 Days to Rule of 55 Execution (Jan 1, 2028)
May 1st we talked about the “Succession Void“—the mental struggle of watching the ship sway without reaching for the wheel. This month, we talk about the fuel in the lifeboat.
To make Project 2028 work, the math has to be colder than a warehouse floor in January. I traded a six figuresalary for a part time Bridge Job. The goal is to generate an average minimum $150 a day in passive income through the Wheel Strategy.
As we hit the mid-year mark, it’s time for a raw audit. Is the Wheel actually replacing the missing part of my salary, or am I just working for less?
The “Two-Week” Trade: Capital vs. Labor
Every now and then, the market hands you a “Reality Check” that makes the 25-hour work week feel like a genius move.
In late April, I sold a put on PLTR.
- The Result: $1,522.38 in premium collected in one trade.
- The Labor: 15 minutes of charting and execution.
To earn that same $1,522.38 at my retail job, I have to work roughly 47 hours. That is nearly two full weeks of commuting, clocking in, and being on my feet.
When your capital does two weeks of work in fifteen minutes, you realize that retirement isn’t an age—it’s a math problem.
The Audit: Labor vs. Options Income (YTD 2026)
I won’t hit $78,000 in options premium like I did last year and I’m okay with that. Why? Because I’m buying back my time.
| Metric | Retail Labor (The Job) | The Wheel (The Engine) |
| Weekly Income | $812.50 (Gross) | $950 (Avg Weekly Premium) |
| Hours Required | 25 Hours | ~2 Hours |
| Stress Level | Low (Not my circus) | Moderate (Market Volatility) |
| YTD Total | $21,000 | $26,000 |
Note: My annualized return on the Wheel is currently 52%. Even with a $4,100 “ouch” on a QQQ trade back in March where my shares were called away, the engine is humming.
Check out my live trading ledger here and keep up with every trade I make in real time.
Whistleblower Wisdom: The Freedom Threshold
The Corporate Lie: “You need a high-six-figure salary to maintain your lifestyle and retire early.”
The Declassified Truth: You need a Daily Freedom Number. My number is $150/day.
Currently, my Wheel income is averaging $190/day on premiums alone. When you add the $30,000 I expect to generate from long-term investments this year, I’m not just surviving; I’m thriving on half the work.
Tactical Tip: Don’t just track your net worth. Track your Hourly Wage Replacement. When your trading income consistently beats your hourly wage, the “job” becomes a hobby that pays your health insurance.
The Freedom Ledger (July 2026)
- Days to Jan 1, 2028: [549 Days Remaining]
- Average Daily Premium: $190
- The “Ouch” Factor: -$4,100 (QQQ assignment loss—The tax man and the market always get their cut)
- Sanity Score: [9.0 — The $1,500 PLTR win provided a massive boost]
- Dad Wins: I haven’t missed a single game or school event. I am present for the “small moments” that my six-figure salary used to buy from me.
The Tactical Adjustment
Remaining patient is the hardest part of the Wheel. Some weeks, like mid-February, the ledger shows $0.00. That’s okay. I don’t “force” trades just to feel busy. I have the retail job to pay the bills, which allows me to be a sniper in the market, not a gambler.
The ship is swaying, but my eyes are on the horizon. 549 days to go.
Don’t Miss the Next SITREP
Are you building a bridge or just waiting for a miracle? Enter your email below to join the Project 2028 mission.
[ PROJECT 2028: MISSION NAVIGATION ]
<< [Entry Five: The Bourbon Resignation] | [Return to Project 2028 Command Center] | [Next Entry Coming August 1st] >>
He didn't just save his way to freedom; he built a compounding engine. By combining "Bogleheads" index investing with a conservative options strategy, Earl turned a late start into a total victory. He’s not just talking theory—he’s living the math. Last year alone, Earl generated $78k in options premiums via the "Wheel" strategy and ~$400/month in passive dividends, proving that liquidity is the true key to quitting early.
Launched in 2019, EarlyRetirementEarl.com is a no-BS zone for dads and late-starters who want actionable, battle-tested steps to freedom. Featured on ThinkSaveRetire, ESI Money, Budgets are Sexy, and Camp Fire Finance, Earl’s mission is to share the financial literacy he was never taught in school. No fluff, no gurus—just the math.
Not financial advice. I’m not a CFP or licensed advisor. All numbers are historical; markets fluctuate. Past performance is not indicative of future results. Do your own research and consult a professional.
