Advice for self employed

[AR-Trvlr]

I'd stick it in an ETF (exchange traded fund) that tracks the S&P 500 - I invest in SPY. A Roth IRA is probably best, but an IRA would work as well.

Since you're starting late the key is saving as much as you can. Since you're starting with nothing at 47 a good target would be 20% of your income. I know that's a steep number right now, but the more you can save now the easier it will be for you to actually retire at some point.

 

[CAMSDADDY]

Lottery tickets. Rich uncle. If your young enough (under 40) you can sell a testicle for up to $35k. Ok ok. The first 2 are luck only. The last ones actually true.

35k? Dang Im four years too late.

 

[Blue bio balls]

Lottery tickets. Rich uncle. If your young enough (under 40) you can sell a testicle for up to $35k. Ok ok. The first 2 are luck only. The last ones actually true.

I'm pretty sure the sale of human organs is illegal..

 

[chucklenut]

start with this. yes i am being serious

https://www.ebay.com/itm/143515090824?epid=530448&hash=item216a2a7f88:g:qzMAAOSwLVpf~wqy

 

[chucklenut]

Take advantage of the crypto bull run now.

soon to be over though no? how much higher will it get!!!

 

[CPA9mm]

Don't go to the ODT for financial advice.

 

[rightway1974]

I guess I better spend a while reading. This is more confusing than Chinese algebra.

 

[grainchaser]

soon to be over though no? how much higher will it get!!!

Appears to have a way to go. No complaints here. Wish I had consolidated more. Beginning to think diversity in portfolio is the wrong approach with crypto.

 

[Tikker]

I agree with investing in real estate and dividend stocks. But pay off debt first & don't plan to invest the money you set aside for real estate or stocks untill the market corrects itself.

Everything is overvalued and unless the stock is a dividend aristocrat that pays more interst % than your loans I'd pass on it. Read into a Roth IRA, tax free growth on dividend reinvestments.

If you want to move, keep your current residence as rental for future income.