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Updated over 4 years ago on . Most recent reply
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How would you invest 40k dollars?
Hello everyone,
I'm looking to hear some ideas as to what you guys and girls would do in my shoes. Next week I will be selling my first "investment property". It has been my primary residence for 2 years and I will walk away from closing with about 40k dollars thanks to the sweat equity I was able to add and the great purchase price I had. Now I am trying to figure out how I want to invest this cash. In about 6 weeks I am moving across the country and leaving my stable military job to attend college for free using the GI Bill. I will receive a housing allowance while I'm in school, and my wife will work full time. I will also work part time. Altogether our monthly income will be a little less than what it is now but we will still be able to cover the bills and put a few hundred bucks away per month at a minimum. The market we are moving to is a little bit on the more expensive side of things. Ideally I would like to buy a small multi family using my VA loan and house hack. But that will probably have to wait until I have a steady job because I don't believe banks will consider my housing allowance as income. I have considered maybe trying to find some properties to flip as I can bring the money for the project and manage it while a partner can buy the property. I know this is long but I just wanted to basically explain that I'm leaving a stable income source for a not so stable income source but I still want to invest my money so I'm not wasting its potential sitting in a savings account. Thanks In advance and please ask questions because I'm sure I didn't explain it all!
Most Popular Reply
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I'll toss out an unconventional idea that no one else here would suggest, and I'll preface it by saying, you have to commit to the process. Find someone who understands a cash-value, whole life insurance policy designed for banking on yourself.
You'll earn good interest, and in a very short time, you'll have access to vast sums of cash for future investments, and any interest you pay, you pay to yourself.
I recommend looking up Cy Kueffer at Living Wealth. His videos are the best I've found to explain how the process works. Copy and paste his name and agency into your search bar and you'll find his content.
Best of luck, whatever you do, and safe travels. Thank you for your service to this country!