Real Estate has proven profitable for me. Look for cheap multi-family units. You could live in one-side rent the other for tax benefits, or rent both sides.
Stocks, bonds. 80% stocks, 20% bonds given your age and the fact you are already saving for retirement.
If you own a home, pay extra on your mortgage. Depending on how much extra, you could pay off your home in 5-10 years versus a standard 30.
Or you could use it for advancing freelance/etc. For instance, I pick up freelance web-dev jobs and do some advertising consulting with my background in the printing industry.
One last thing, still have fun with it. It gets easy to become so focused on investing that you are living for 10 years from now, and missing living-in-the-moment.
Unless your mortgage is like 8% or more, it would be wiser to put that money in stocks for the long term.
You're borrowing money at (say) 4% to own a home. That's a great rate, why be in a hurry to pay it back if you could earn 8% per year over the next 10yrs in the stock market?
Secondly, I believe we're on the cusp of significant double digit inflation. So your debt will inflate itself away. Put that cash you have now into something that will protect against inflation, that means something that will inflate itself. Stocks aren't a bad choice for that either.
If it turns out to be economic collapse type inflation, well then you might want to spend that money on actual hard things, like firearms, ammunition, food, fuel.
Obviously if you have any credit card debt in the range of 15%, pay that off first.
Comments
Real Estate has proven profitable for me. Look for cheap multi-family units. You could live in one-side rent the other for tax benefits, or rent both sides.
Stocks, bonds. 80% stocks, 20% bonds given your age and the fact you are already saving for retirement.
If you own a home, pay extra on your mortgage. Depending on how much extra, you could pay off your home in 5-10 years versus a standard 30.
Or you could use it for advancing freelance/etc. For instance, I pick up freelance web-dev jobs and do some advertising consulting with my background in the printing industry.
One last thing, still have fun with it. It gets easy to become so focused on investing that you are living for 10 years from now, and missing living-in-the-moment.
> pay extra on your mortgage
Unless your mortgage is like 8% or more, it would be wiser to put that money in stocks for the long term.
You're borrowing money at (say) 4% to own a home. That's a great rate, why be in a hurry to pay it back if you could earn 8% per year over the next 10yrs in the stock market?
Secondly, I believe we're on the cusp of significant double digit inflation. So your debt will inflate itself away. Put that cash you have now into something that will protect against inflation, that means something that will inflate itself. Stocks aren't a bad choice for that either.
If it turns out to be economic collapse type inflation, well then you might want to spend that money on actual hard things, like firearms, ammunition, food, fuel.
Obviously if you have any credit card debt in the range of 15%, pay that off first.