I've been struggling with business burnout and been thinking to sell it.
If I do, then I might get to $500k in savings.
I'm 31.
I have realized that I don't give a damn about Lambos, big mansions, boats, planes and living large.
I'm most likely the type of person to get more fun out of a good mountainbike and a kitty than a luxury car and a boat.
I'm now living in a big house and I don't even care. It's too big for me. Could as well live in small one.
All I care about is the sense of financial independence, safety and freedom.
When I write "retire" I don't mean not doing anything else ever again until I die. I would most likely start another business or freelance after a sabbatical. But I imagine that it would give me a relative peace of mind.
So I would love to hit the "SAVE GAME" button and make sure that I will never have to work menial soul-sucking jobs ever again. That's my biggest nightmare.
Obviously, it could be very hard to make a living out of that in Vancouver or NY, but I live in Latin America, where 2k USD a month makes you good above-average living.
I've been reading about dividend paying-stock and talking to some people. The consensus is that around 4-5% yearly withdrawal should be possible.
@MTF told me he's getting around 4.85%, but that's on American market.
That would give me around 2000 USD monthly, but that doesn't take possible taxes and broker fees into account. Also, I'm afraid of inflation and the ever rising prices in many countries.
On the other hand, other people have told me that it's not the best idea to invest in big American companies as of now, according to them, and could be better to invest in REITs, as they can be relatively low risks and with way bigger returns, or even dividend paying companies but from the developing markets such as Eastern Europe, because of the capital circulations (that are supposed to flow from developed countries to developing countries in 8 year cycles or so, I don't remember the exact numbers..).
So maybe I'm overlooking something and it could be possible to get more than 5% yearly return?
For now, I do realize that I need to study the topic waaaaay more. I'm following certain YT channels and buying books on that topic to educate myself more. I'm also thinking about real estate flips on the rising marketc, etc, in order to multiply my savings. But still:
Do you think that is even possible, considering that I'm single and live quite frugally?
TL/DR: If you were forced to retire on $500k by the age of 31, how would you do it? How would you invest it?
If I do, then I might get to $500k in savings.
I'm 31.
I have realized that I don't give a damn about Lambos, big mansions, boats, planes and living large.
I'm most likely the type of person to get more fun out of a good mountainbike and a kitty than a luxury car and a boat.
I'm now living in a big house and I don't even care. It's too big for me. Could as well live in small one.
All I care about is the sense of financial independence, safety and freedom.
When I write "retire" I don't mean not doing anything else ever again until I die. I would most likely start another business or freelance after a sabbatical. But I imagine that it would give me a relative peace of mind.
So I would love to hit the "SAVE GAME" button and make sure that I will never have to work menial soul-sucking jobs ever again. That's my biggest nightmare.
Obviously, it could be very hard to make a living out of that in Vancouver or NY, but I live in Latin America, where 2k USD a month makes you good above-average living.
I've been reading about dividend paying-stock and talking to some people. The consensus is that around 4-5% yearly withdrawal should be possible.
@MTF told me he's getting around 4.85%, but that's on American market.
That would give me around 2000 USD monthly, but that doesn't take possible taxes and broker fees into account. Also, I'm afraid of inflation and the ever rising prices in many countries.
On the other hand, other people have told me that it's not the best idea to invest in big American companies as of now, according to them, and could be better to invest in REITs, as they can be relatively low risks and with way bigger returns, or even dividend paying companies but from the developing markets such as Eastern Europe, because of the capital circulations (that are supposed to flow from developed countries to developing countries in 8 year cycles or so, I don't remember the exact numbers..).
So maybe I'm overlooking something and it could be possible to get more than 5% yearly return?
For now, I do realize that I need to study the topic waaaaay more. I'm following certain YT channels and buying books on that topic to educate myself more. I'm also thinking about real estate flips on the rising marketc, etc, in order to multiply my savings. But still:
Do you think that is even possible, considering that I'm single and live quite frugally?
TL/DR: If you were forced to retire on $500k by the age of 31, how would you do it? How would you invest it?
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