Ok a little backstory. Me and my wife both make 60,000+ a year in Ohio. We have her student loans (28k) and our house (69k) as debts.
We each put 15% in our 401k plus company matches (3 and 6%). I'm in vanguard index, she's in some mutual funds. I have 10k in cash, wife has maybe 2k.
When I turn 30 my plan was to up my 401k from 15% to 20%. I am instead considering pitching some timberland with recreational value. My goal is to understand the likely financial ramifications of doing this as opposed to large cap index funds or a more conservative investment.
The land I am interested in buying is 25-70 acres costing between 25-40 thousand in rural Kentucky.
The land would likely have some timber value, and would occasionally be leased as hunting ground. Bringing in an unknown but likely minimal amount of income. If I would go the higher end of the acreage I would likely lot a portion off and owner finance to help cover my initial cost.
I would plan on holding the land as part of my portfolio.
Has anyone else done this? What are the likely differences in my wealth at 65? What are my risks? Any help or advice would be welcome.
Submitted July 10, 2017 at 05:40AM by buttblood71 http://ift.tt/2tZmWXb
