When exactly is right to apply for ILR

Greetings everyone,
Much appreciation for the informations placed here. You guys are the real MVPs. So to my question. I'm living in England on my EEA2 Visa since 2014 with my wife who is Irish and 2 kids who are British. We both work and to me I'm settled here because England has given me more than my country could ever imagine giving itself. Maybe when I'm fully settled I'll help our president come settle and know how life works in a civilised society (haha).
Now my question is, my EEA2 expires in May. How soon can I apply for ILR or a renewal as my main concern is sorting it out to remain legal so I can have my passport back on time because I often have to travel for work.
Thank you all for the time you spend here. I know alot of people like me appreciate it even if most times we forget to say thank you.

Regards.

Don’t make the mistake of applying for ILR, if you don’t qualify for it! Apply for confirmation of PR or settled status.

vinny wrote: ↑

Sun Jan 20, 2019 1:42 am

Don’t make the mistake of applying for ILR, if you don’t qualify for it! Apply for confirmation of PR or settled status.

Thank you for your response. I did some reading about it and I should be applying for a PR. I just want to know when is the right time for me to apply. In February it would be 5 years since we got married but my residence card was granted in May which means my 5 years residence card on EEA2 expires in May. Can I apply now or do I wait till May?
I appreciate your time.