Getting a rental or two is on my list. At the moment it is a buy very high investment and I will wait with a pile of cash for the right opportunity.I have a couple rentals and feel they are a great low risk investment if you manage them properly. My wife and I also have a retirement fund managed by a company that has done ok but not as good as the rentals imo.
The market is tough right now but there are opportunities. We are finishing our most recent one now. We picked it up for 20K (it was rough but had a good foundation and bones), invested 45K into renovations through a contractor, so total cost is $65k. It will rent it for $750 and profit $600 after taxes and insurance. I have the tenant lined up already. $7,200 return per year on 65k isn't bad...Getting a rental or two is on my list. At the moment it is a buy very high investment and I will wait with a pile of cash for the right opportunity.
They won't take me at this point LOL, they didn't like how much metal I had in my body.You can also join the Army. If you stay in for 27+ years the retirement benefits are decent.
While this makes alot of sense, be careful, i did this for my brothers kid. the oldest one has no intention of going to school, this ended up being the same as flushing the money down the toilet.It hasn't been mentioned but if you have kids I highly recommend starting them with a college fund. I did the state sponsored 529 plan (called Brighstart) in my home state. I put 10k in for each kid and by the time they graduated high school they had close to 40k. That isn't near enough for college these days (UIUC is 40k a year) but it helps. Nice thing about this is that the Ex-Wife couldn't get her hands on it when we divorced. If she had she would have pissed it away.
That is what scares the tar out of me with those plans. Higher education is also going through major shifts right now and what those institutions look like in 10 years could be very different.While this makes alot of sense, be careful, i did this for my brothers kid. the oldest one has no intention of going to school, this ended up being the same as flushing the money down the toilet.