OK well all I urge is that you continue in your current configuration until you never need to work another day in your life. THEN do the company thing.
You will regret it beyond all understanding if you take this incredible position you are in and within five years turn it into a financial disaster back to square one.
Frankly you are undervaluing what you have achieved and underestimating how hard the task is to tenfold that.
In ten years of continuing in your current configuration it sound like you could take home more than $1,000,000 per year AFTER TAX. A "company" can easily run for ten years and not have yielded that much money either through revenue or acquisition.
The problem is that if success comes too easily and/or too early then it is undervalued.
I made a big pile of cash very early in my career and thinking that such big piles of cash were easy to make, promptly wasted it on "starting a company". I certainly gained value from that money though. The value I gained is the wisdom that I imparted in the top level suggests to the OP.
Cash never came as easy again.
The OP doesn't realise that he has attained one of the possible levels of startup holy grail nirvana of success - the incrediprofitable one man company.
The problem is that if success comes too easily and/or too early then it is undervalued.
I am sorry if I made that impression. It was never an easy thing. I have had my fair share of all-nighters and even I do those now at times. I had to self-learn, un-learn several things after leaving a comfortable job several years ago. It was (and still) not at all an easy task. As a quote goes It took me 10 years to become an overnight success
My point is not about how you got there. My point is that you undervalue what you have.
Perhaps the most important point, and one not made here elsewhere, is that merely the fact of starting to create a company will impact your existing revenue stream. You will instantly become distracted by "working on the company", and whatever your current magic formula is will suffer and revenue will go down. The moment you start to "make a company" your magic formula will get less and less magic until soon you've got 10 employees, a lease on an office, taxes, problems, a sales team, politics, accountants, hiring and recruiting, and then you need to feed that beast with ever increasing numbers, and you'll stop taking all that juicy cash for yourself because you'll be "investing it in the company", which is to say "spending it/getting rid of it". Your magic formula will be gone and you'll be just another ordinary company.
And if it did take ten years to get to this point then why the heck are you in such a damn hurry to change your situation.
I think what you should do is change the way you see your current position.
Currently you are WILDLY SUCCESSFUL. You seem desperate to risk that for what - greater success?
What you propose makes no sense. Just keep doing what you are doing. Keep raking cash off the table and start to think to yourself "wow, I'm one of the most successful people in business".
The problem for you is you are addicted to "entrepreneur porn" - you are reading about all these other people who run REAL companies, who EMPLOY people, have OFFICES, and INVESTORS and IPOs. All that stuff is nowhere near as valuable as it is made out to be. You have done the most incredible thing which is to pull in huge amounts of cash with none of that crap. Wow. But you seem to feel that it's not enough success. Readjust the way you see your achievements to date and readjust what the real value is of "having a company".
Not to mention he is in education - a universally moral category. This is startup nirvana if I ever saw it. I'm sure there are famous billionaires who would trade places with him if they could
Don't think hoodoof disputes your hard work for many years. Your current situation could potentially be a gold mine which sets you up for life. I guess he is arguing not to increase the risk. Despite all the hard work you might not be able to scale it in the same manner.
I guess it depends on what you are trying to accomplish. Many people start a business because they have a purpose or mission they are trying to accomplish and they can't get there remaining small.
That said, I'm inclined to agree that granting yourself and family financial independence gives you a lot of freedom and flexibility to do anything you want at that point.
You will regret it beyond all understanding if you take this incredible position you are in and within five years turn it into a financial disaster back to square one.
Frankly you are undervaluing what you have achieved and underestimating how hard the task is to tenfold that.
In ten years of continuing in your current configuration it sound like you could take home more than $1,000,000 per year AFTER TAX. A "company" can easily run for ten years and not have yielded that much money either through revenue or acquisition.