You have the ability to save at least $30K a year.
What would you do with it to retire as soon as possible?
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Save it.
Save it.
Half in leveraged rental property, half in index funds. You shouldn't retire with leveraged properties, though, so time it so that you pay the places off just before retirement.
invest in a term deposit for mad 1% yearly gains
What are your living expenses? What's your salary? What are your goals and expectations for retirement?
You could save for 10 years, buy a 5 bedroom house in a shitty part of town and rent out 4 of the bedrooms to pay for your weekly expenses. But is that the retirement you want?
Alternatively, you could save for 5 years, buy a very modest house/condo then wind back to 2 days work per week, being semi-retired and earning enough to get by.
Or you can actually work hard, increase that $30k savings to $60k+ per year and retire in 20 years with a few million.
Precious metals
It's best to take a conservative approach with retirement investment you should put it into safe ETFs like TVIX, UVXY, UWTI/DWTI (50/50 split)
I ideally want to move away to a "3rd world" country meme retirement, like the Philippines, Panama, etc. Haven't decided yet.
My expenses after retirement shouldn't exceed $2,000 a month in today's dollar value if I decide to stay in the US. But ideally I would like to move to the Philippines and open a business selling "western" food to the locals. They are obsessed with trying to be western.
I only make ~$55-60K a year but I'm a truck driver with minimal expenses.
I figured
this NAK all the way
Buy in in the next 2 or 3 weeks while its cheap
buy several small properties and rent them out. Also go to live in Thailand and chillax on the rental money. possibly get a ob teaching English out there.
>You have the ability to save at least $30K a year.
Start 30 dropshipping stores each year
>But ideally I would like to move to the Philippines and open a business selling "western" food to the locals. They are obsessed with trying to be western.
Heres the problem with going from developed to developing nations.
Unless you have a unique skillset, doctor, educator, engineer, etc, then you can value add to their economy. There's no real demand for truck drivers in the third world for example.
The problem arises when their economy which is you aren't linked to by employment is undergoing a high growth rate eg Thailand, the economy won't take it with you. meaning as their stand of living grows your $50,000 cash pile actually goes backwards.
The only way to rectify this is to buy property in the location you move to if you can and if the foreign ownership taxes don't decimate you, or better yet invest $50,000 in a US based REIT where professional handle your ROI and live off the dividends in a cheaper area. Forget Manilla Condo costs are quite high.
Manilla is saturated with Western food operations which are all run by locals selling pizza, hot dogs etc etc.
If you must invest in a country like the Philippines don't invest in a business invest in land and have a local partner to mitigate some of the VAT which can quite high 30% at the high end of income generation for foreigners
>ideally I would like to move to the Philippines and open a business
oh, we have a different understanding of what it means to retire
whats the target on this?
Option trading
Levered commodity ETFs
Start a business
Once you get to the half mill mark put half in muni bond ladders if you live below your means and use the other half to repeat above.
I plan on going in on NUGT if it drops below 8 but depending on what Yellen says or does this month I might wait and see it drops near the 52 week low, 5-6 a share. Then when we find out how shirty the policies of the new administration is (going by the hints and between the lone reading and every other fucking thing) I expect it to rise. Optimistically I'm hoping to double by June/July, realistically probably only see a 40-60% increase. Which is not bad within a year but still....
You don't even have to invest with that kind of an income
Just work for five to ten years and just live like a frugal king for life
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Buy bitcoin
1835758
>save memefiat
>frugal king
more like poor cope
I'd do a lower - medium risk route
Put as much as possible in the TFSA, put the rest in bonds. Buy some property once I have enough, and rent it out