I fear for the amount of flack I may get here, but I am looking for some sincere advice.
I have lived paycheck to paycheck for almost my whole life. Loans to pay off, low wages, unemployed, debt, etc. It was about about 7 years ago I finally felt I got my life together.
We are now a family of four. Finally making enough (two incomes) to have paid off our debts and for the first time, instead of having some month left at the end of the money, we have the opposite. We are now saving. Peanuts, but still.
This was also the moment I started thinking about the possibility of actually retiring at some point. I always pretty much assumed I'd work until I'd die or simply not live that long.
Fast Forward: We bought a house right before COVID. The market exploded in my area after that and the house is now worth almost 150K more than we bought it for. Since we are moving abroad, I will not need to reinvest that money in new real estate. We can sell and take the money and run.
I finally have an opportunity to let some funds grow for my family, and this is likely my only chance at retiring at all.
What do you good people think is a safe bet to let this modest but significant amount grow over the next 15-20 years?
My One Shot at a Retirement – What Do I Do?
byu/Terrible_Jicama_2564 inpersonalfinance
Posted by Terrible_Jicama_2564
4 Comments
Take that money aand invest it in a better paying job. Get a certificate or a 2 year degree in anything that will make you more money. Something that luck can’t take away from you. After that split it 50-50 in bonds and a market account. Bonds will slightly outpace inflation and the market is likely to return 7.5-8.5% yearly.
Low fee index funds. VOO and chill.
Lump sum it into a TDF or VT (or equivalent).
Sorry but 150 k is peanuts .If you have your vhealth do not retire yet.