What should I invest in?
After September I'll be making 2800 a month. Thats after all bills and taxes are paid. I was wondering what I should put my money into. Something that only is about 5 years long. Im 32 right now so before I hit 40 I want to have something that pays for itself. Like another house I rent out.
- SlumlordLv 73 months ago
Why not another house that you rent out, then? It won't be paid off in 5 years (unless you are hyperaggressive paying down the loan) but you may be making money on it the second the tenant moves in, if you get the right place.
- BortLv 63 months ago
If you're interested in realestate that's what you should invest in to. Of course do your homework or hire a financial advisor if you don't already have one. I have several friends who started working with a financial advisor about 10 years ago and I wish I would have done the same thing because they're well off and basically retired when they turned 40. Having an advisor makes it easy, they do all the leg and homework and suggest what might be your best options to invest in to.
I've been reading a lot about self-driving car technology being a good market to invest in if a person gets in to it now before it's flooded because it's still fairly new so the buy-ins are still quite low and are expected to go through the roof in a few short years (5...your time line) when they're released.
They are getting there quickly with that stuff.
- martinLv 73 months ago
Absolutely go with Mutual Funds. Find the best performing ones who distribute good dividends.
- .Lv 73 months ago
First, pay off any bills you have and determine whether upgrades to your vehicle or housing would save money in the long run. You should max out the limit on contributions to your retirement fund. And real estate is fine if you know what you're doing.