Hi guys.
I just turned 24 and finally feel that I am in a good place where I am making much more than I spend but I also feel as though I am not depriving myself. I don’t have expensive tastes and my hobbies are generally free or money making. (Working out, driving lyft, working on my blog/website, secret shopping)
I currently have about $30k in cash and roughly $20k in various investments including a maxed out Roth, 401k from work, various robo-advisors, a real estate fund that my brother owns, fundirse, and lending club. (When I first began I decided to have a lot of different vehicles to see which one I like the most.)
Even after counting business expenses I make about $1,200-$1,500 more than I spend a month. I recently increased my recurring investments for all of my accounts but there is still a big gap.
I know that long-term I want to generate my wealth from rental properties and from renting properties. My tentative goal is to have >$100k cash specifically for real estate when I turn 30 to acquire property. I’ll decide whether it would be best to get one property worth $500k, three properties worth $175k, etc when the time comes.
My question is, what is the best vehicle to use over the next 6 years for the cash that I put away? Should I just continue to keep it diversified? Would peer-to-peer lending be a good option to lean heavily on since the notes are 36-60 months? Or should I lean heavily on index funds since the horizon is hopefully long enough to handle volatility?
Submitted August 12, 2018 at 12:05PM by bhouse114 https://ift.tt/2vD2omQ
