Advice/Criticism/Opinions On My Goals - Please & Thank You!

[Riley Caldwell]

I'm 21, and married. Marrying young may not be the most financially intelligent thing to do most of the time; however, I feel like I actually have an advantage due to my wife being intelligent and not consumeristic. Two incomes, one roof!

I need to be financially free and able to live my life how I'd like to. Hopefully with enough money to do great things for my family (Giving parents a great retirement, top-notch education for my kids, be able to give my wife a great life with excess, travel the world together, the usual...)

My plan thus far is this:

-Begin building credit (currently have none)

-Begin investing in buy and hold properties ASAP (probably looking at FHA loan on multi-family with a cosigner to get going)

-Continue pursuing Bachelor's in Computer Science

-Graduate and find software engineer position

-Live below my means and be investing as much as possible into buy and hold properties (I aim to be generating 10k+/month in passive income in my early 40's)

-Once my passive income can support my expenses -possibly before- begin a startup

-Keep working towards that 10k+/month and retire when/if I feel like it

Does this seem like a good, sensible, plausible plan? 

Should I invest in places other than real estate ie individual stocks/ 401(k) plan etc?

I GREATLY appreciate ALL feedback - positive & negative.

[David Dachtera]

I'm going to go a little "off the board" here and suggest NOT pursuing higher education UNTIL you have learned how to pay for it - that is, until AFTER you have learned to make money! (College doesn't teach that - it teaches you how to be a W2 employee, NOT how to be successful!)

Focus on learning real estate investing.

As you're building your personal credit, set up a business entity and start building the entity's credit at the same time. Lenders like to see business in existence for at least two years - START THE CLOCK!

That might be a tough sell with the Mrs. - it's not the conventional paradigm. Convention/tradition produces mediocrity, and your goals seem to aim higher than that. Still, if she's on board, you can learn and grow together as entrepreneurs - that's where tomorrow's economy looks like it's headed.

Click on my name at the top of this post to view my profile. My e-mail address is there. Mail me privately and we can discuss some options you may not know about.

P.S.:

One of my accountants has never had a job - he's always had his own business for 30+ years.