From the age of 17-29 I got by on about 20k a year, with a bit of fluctuation. I moved to China to become a teacher and my career exploded. I now am part owner of a new business and will make a 6 figure income (USD) after taxes for the first time next year. And I have no idea what to do with it besides stash it under a mattress.
I'm 33 years old, no debts, no family. My work also doesn't have any investment vehicles like a 401k or anything. My monthly required expenses are about $1100 per month (health insurance provided by company). I do not expect to live to retirement because most of my family did not. A few died in their 40's. I'm also not legally able to buy a house in China, but I could buy one if I move back to the U.S. I cannot get tax-deferred accounts like a ROTH-IRA, I looked into these and wasn't eligible due to not paying U.S. taxes since I haven't been home at all.
So I feel like I'm in the ideal financial position to plan things out, but am really confused about what I should be doing this upcoming year. Mainly I would like to move home to the U.S. or to another country 4 years from now, maybe a little earlier or later but about then, so I'd like to save for buying a house and a car when that happens. I know I should also save for possible retirement or early retirement, but I'm not sure how to do that if I can't get things like a 401k or IRA. What should I be doing with the money besides sitting on it?
Submitted December 12, 2021 at 06:21AM by middleupperdog https://ift.tt/31UolBc