Want to retire ASAP! Any pointers?

[Patagonia]

Quote:

Originally Posted by unno2002 An example of a rental home we have, bought in 2013 for $77,500, rented for $805/month, after expenses putting in our pocket (ignoring tax write off's) a consistent $583/month. ($6996 per year) This is a 9% "annuity", from an appreciating asset that can be left to the spouse, kids, etc. With your "cost of living" our example would mean you need around twice what you currently have invested in such rental properties.

This is a great suggestion for the OP! Rentals such as this have the ability to earn a higher % payout without the risk of junk bonds.

[Dreaming of Freedom]

As others have said, look into real estate investing. Heck, maybe even look into getting your real estate license if you want a change. I wish I would have bought a duplex years ago, living in one side, and renting the other side out. Theoretically, you want to get a good enough deal that the renters in one unit pay all of the mortgage, taxes, and insurance so that you can live rent free in the other unit while building up equity in the duplex.

There are lots of books and websites out there to learn from. I don't know if I can mention any sites names without getting in trouble with the moderators, but try googling investment property education if you want to learn more.

As with any path you decide to take, educate yourself as much as possible before making any big changes.

[mikelish]

there is a website that lets you loan money to random people on the internet.


you can choose high risk people and charge them 15% but they might never pay you back. worth looking into


I would pay off that credit card debt ASAP and put $5,500 in a roth IRA every year.