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Hi All,
I'm looking for advice in what to do with $300k and my life path.
Goals and Life Path:
I'm 27 and don't have any strong core skills. My skills are superficial understanding of computers/internet but not to the extent of programming or technical knowledge. I'm open to business ventures that will at least be accommodating to the following goals:
Goals:
My biggest passion and fuel in life is to travel and freely go where the road takes me. So my goals are:
With these goals in mind, the ability to travel on a whim narrows down my options to an internet business, trading stocks/forex, internet marketing. Something that provides some flexibility to live anywhere and either fund the lifestyle above or build a $10 million networth that can be used as a truly passive paycheque machine. Travelling is very important and is the fuel to my life, which is why i fear if i choose something that restricts my ability to roam around the globe i will lose the fuel required to build a business. Am i overlooking other options?
$300k:
So i'm not sure what to do with the $300k sitting in my bank depreciating away.
My options:
I welcome any feedback and opinions on anything that you feel like i should need to hear.
Thank you =)
I'm looking for advice in what to do with $300k and my life path.
Goals and Life Path:
I'm 27 and don't have any strong core skills. My skills are superficial understanding of computers/internet but not to the extent of programming or technical knowledge. I'm open to business ventures that will at least be accommodating to the following goals:
Goals:
My biggest passion and fuel in life is to travel and freely go where the road takes me. So my goals are:
- Having funds and time to travel 3-6 months a year (Daily expenses $400 daily)
- Having the flexibility to pack up and live in different parts of the world
- Having time to help communities and social needs
- I will require $7-10 million dollars to fund this lifestyle passively with a wife.
With these goals in mind, the ability to travel on a whim narrows down my options to an internet business, trading stocks/forex, internet marketing. Something that provides some flexibility to live anywhere and either fund the lifestyle above or build a $10 million networth that can be used as a truly passive paycheque machine. Travelling is very important and is the fuel to my life, which is why i fear if i choose something that restricts my ability to roam around the globe i will lose the fuel required to build a business. Am i overlooking other options?
$300k:
So i'm not sure what to do with the $300k sitting in my bank depreciating away.
My options:
- Buy an apartment outright.
- + Secure a roof over my head
- + Not have to worry about mortgage
- + Can be rented out and passively supplement living expenses living/travelling abroad
- - Illiquid
- - ~$5k yearly body corporate/strata fees
- Put it into the stock market for now
- + Very liquid
- + Better than cash in bank yields
- - Long and slow way to build wealth
- Partner/Invest in a startup or established business
- + Fast way to attain the $10 million target
- - Fixed location
- Although i'm thinking of investing or doing a startup abroad which probably sounds insane since i have no experience of business or startups in my own country.
I welcome any feedback and opinions on anything that you feel like i should need to hear.
Thank you =)
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