What would you do with 65k cash?

[Danielle Prendergast]

Looking for some ideas..

My goal is to retire within 10 years with 50k yearly income/cashflow.

What is possible and what is not?

Thanks!

[Account Closed]

That is a great question...You have your goal now you need an investment technique, plan of action and exit strategy.

First:
You have a great goal but based on the money you have to invest it is going to be tough to meet your goal so you are going to need an investment technique that will allow you to invest without using capital and due to the current market you will also need to use an investment technique that also will not require use of credit (investment properties need a lot of money down in this current market so credit is useless without the capital).

Second:
How much time and effort can you put into investing to reach your goal? not all investing techniques are the same regarding time investment, so based on your work and life schedule how much time can you commit to reaching your goal?

Third:
How committed are you to reaching your goal? Based on your history of following though on things in your life will this goal be obtainable or is it just another dream?

Last:
Why do you want to retire? If money is no longer an issue what are the things you want to do in your life?

I know it is a lot of questions but asking yourself these questions now will help you to create a clear picture of what you want, what you are willing to do to achieve it and will help you create a map to get there.

Good Luck.

Marv Rousselow