Male 30
Salary 70k
401k Current 30k with 16% of income being put in 2% company match
Roth 25k with vanguard retirement fund 2050, i invest 5,500 annually
Car--2000 jeep with 150k miles (still runs strong and I plan to keep it for the rest of my life)
2008 motorcycle with 20k miles, no payments
New boat (paid 33k--Yes stupid but I live on the water and I love it)
Rent -650
Utilities--140
Car Insurance 500 annually
Boat insurance 300 annually
Cash on hand 56k (after I pay for the boat in full)
Ok... so here I am, single (but dating a lovely woman) and I don't know if I will ever buy a house. So should I take part of that 56k and invest it in a S&P fund (I also have 8k my mom has entrusted to me to keep in the event she falls on hard times that I will invest for her). If i don't invest in the market I am thinking about getting a liquor license (town just went wet and applications for package store license will be available in 45 days) and starting a package store, or maybe buying some land and starting an indoor boat storage place. What do you guys think? Or... should I just keep the 56k liquid in the event that I want to buy a house? A really nice houses around me go for 150k, a nice house around me would be 100-130k (still livable and move in ready).
Only other wants I have are to travel once a year to scuba dive (1,500 per trip) and to repaint and put a new motor in my jeep in the future--maybe next 2-5 years (will run total of 6k to drop a stroker motor in it)
Submitted May 07, 2017 at 03:32PM by cleatus_the_noodle http://ift.tt/2poBDNT
