I'm wondering how to meet the passive income retirement, given that I'll be 51 or younger when we apply (we're on a 3-5 year plan for moving).
I'm currently employed as well as own a consulting business with a partner. If I saved all of my business income for the next few years in the business's savings and then started transferring it in regular monthly deposits to my personal bank account as we got closer to applying for the visa, would that satisfy the requirement? It would essentially be the business paying me from the business savings.
We should have $100K+ in our personal savings as well as a substantial 401K at the time we apply.
I know that I'll need to discuss this with a lawyer once we get serious about planning, but I'm hoping to get some insights from people who have already navigated this.