I initially was in the military but got out due to issues with my health…. So much so that I have been given a disability rating and have been living offf of it for the past few years. Recently left my last job as a car salesman, it’s has been quite difficult to maintain employment due to my disabilities that I got from the military.
Financially I’m doing ok. I have roughly 80k to my name with a majority of it in a CD account. And I have a combined debt amount of 3k. I have no other forms of negative equity my cars are paid off.
What is the best course of action to reach more financial milestones at my age? Currently in college (have a year and a half left) but I absolutely the despise the town I stay in, I am a certified bmw technician however I can’t work on cars full time due to my issues as well (found this out a bit too late as I got my credentials)
I turned 25, and idk what to do… what should I do to grow
byu/Asianguccimane00 inpersonalfinance
Posted by Asianguccimane00
4 Comments
Thank you for your service.
>What is the best course of action to reach more financial milestones at my age?
Read the following.
[https://www.reddit.com/r/personalfinance/wiki/commontopics/](https://www.reddit.com/r/personalfinance/wiki/commontopics/)
Good news is, you’re at an amazing starting spot! Frankly, you probably want to be somewhat conservative with that savings until you really figure out your life’s path. The reality is, figuring out how you’ll make your money for the foreseeable future will determine what your goals actually should be.
For instance, if you pick a career path, but relocating for that job is a smart move for you, then it’s tough for us to give you an real advice around renting/owning a home, given the amount of variables of the new place you might go.
Or if for instance you find a really lucrative job and you have lots of excess disposable income, you’ll likely be able to diversify what you do, in more ways than otherwise.
So my general advice is, keep figuring out what path is best for you, and when you have a very rough 2-5 year plan of where you want to be and what you want to do, then you can ask the question again, and start to be more strategic about what financial milestones are best for you.
Without specifics, we’d just be giving you milestones for the sake of milestones and that won’t really benefit you. You’ve got 80K and virtually no debt and an asset in your car. Those are milestones already!
Learn to invest in real estate. Wishing I did when I was your age. Get a rental property and grow your portfolio over the years.
Put $80K into some good stocks, like ABC, AMZN, MSFT etc., it will keep you excited when they up and down, but I am sure you will not loose money, just keep in mind that you will have to keep them there for long time to reap benefits.
Start doing gym!
Make friends!
Create a profile on LinkedIn, it sends good feeds to watch tech and tedtalks etc., and read through comments, you will learn a lot!
Try religions, it will automatically make you social 🙂