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Updated over 6 years ago,
Advice for a 27 year old investor on his way.
Hi all. I wander the forums but don’t post too much. I’m looking for some advice or suggestions. Here’s my situation. I am turning 27 years old on Monday and I worry about my finances far more than I should. My goal is to eventually become financially independent to the point of being able to work my current job 6 months out of the year. (being a union ironworker i have the luxury of being able to do this down the road if I choose)
I currently have - 4plex that I bought two years ago. This is where I live - my 3 apartments cover my mortgage and I am in essence living here “for free.” About 6 months ago I purchased a 3plex. This place clears me a cool 1200/month after the bills are paid. My day job, I take in a little under 200k a year. It fluctuates a bit due to overtime. But In the last four years I have averaged 170k/year. I also purchased a mini excavator/bobcat combo last year and run around doing that work on the weekends. This doesn’t really provide me with any additional income as it pretty much covers the payments of 1500/month. Which is fine with me I have have these machines for.. near ever. I have almost 200k put aside in an annuity. I am currently sitting on about 50k in liquid capital and am plotting my next move.
I guess I’m on a good track but if anyone could offer me some insight or advice that’s all I’m looking I find myself engrossed in thinking about this stuff and analyzing my local market.
Probably the best advice I can take is relax you’re doing ok enjoy life. And I do - I have all the toys and don’t live a super frugal life. But I do want to take this seriously as I don’t plan on scaling skyscrapers and beating my body to death until I’m 60 years old.
A bit long winded I know - but thanks for reading my thoughts.