Some background:
After graduating high school in the U.S. I decided to take a "Gap Year" backpacking solo in New Zealand. I left with $5,000 I'd earned from jobs during high school. Partially, this was my own little experiment to test my financial intuition.. to see If I could make it with so little if I played my cards right. Luckily I had my parents and a middle-class life back home so if shit did hit the fan, or I broke my leg, etc etc I could just fly back with my emergency travel funds. For these months, my parents only paid for my insurance and phone bill. There I lived frugally but lived like a boss. I met the most amazing people while working and living in hostels, hitchhiked everywhere (paid for public transport once in ten months), tried local cuisines, hiked amidst the most inspiring landscapes, and did a ton of working on farms in exchange for accommodation and food (WWOOF). The best part was I ended up earning back all the money I'd spent by working housekeeping, waitressing, bartending, and as a kitchen hand in a hotel that gave me a room on the premises for free, meals included, in a great location with international staff. Sure I worked like a dog, but while I'm young I don't mind too much. It was an adventure and it gave me the freedom, time, and social life I needed to explore the country. When I returned, I decided I didn't want to go to college and rake up debt considering I didn't want to sit and do the 9-5 to pay it all back, I want to travel during my 20s and looming debt would hinder that quite a bit.
My dad has given me the 20k that was originally my college fund, and says I can use it to "upstart" my future in whatever way I'd like. I'd like to keep a bit for college/education savings in case I do decide to earn some type of professional job training in the future, some towards snowboarding instructor certifications, general savings, and my biggest WTF do I do with this money is: I'm keen to the idea of investing in passive income.
I'd like for my jobs while traveling to support me 100% while continuing to put some into savings while never dipping into the 20k for personal luxuries or travel expenses.
I could see myself settling down after 30- having kids, traveling once in a while, yada yada, but I don't want to look back and see I've been totally screwed by my travel lifestyle by neglecting to use the 20k to it's fullest potential now.
THE BIG QUESTION:
What are some ideas for investments in passive income that are available to me with only 20k or less, which I could manage from anywhere in the world over my computer? I'd like to diversify and not have "all my eggs in one basket"
Here's where I'm at:
**Currently I am applying to work on a cruise ship, all expenses paid including insurance.
$3,600 in Travel/General Savings
$6,000 in Personal College/Education Savings
$20,000 in "Upstart" my Future funds
-Roth IRA: each paycheck I put 10% towards a Roth IRA through a Vangaurd Target Retirement 2060 Fund Investor Shares
Current Balance: $1,051
-Credit: I have great credit thanks to my dad starting an AMEX card for me when I was young. I plan to stop using that and go completely on debit after I sell my car and travel the next few years.
Submitted July 11, 2018 at 11:08AM by stormthelands https://ift.tt/2zt0gT5
