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re: Investment advice
Posted on 6/1/16 at 12:05 pm to GeauxTigers777
Posted on 6/1/16 at 12:05 pm to GeauxTigers777
You sound alot like me. I have a very high income and I can tell you the #1 thing I've learned is
1)Buy a home
2)pay off that home
3) build a dividend portfolio that can pay your property taxes for life.
From there just enjoy life man. Its too short to worry about squirreling away and saving/investing all that stuff. A home paid off in a good neighborhood is a great asset and as long as you have a portfolio of multiple names that have a solid dividend history that can pay your bills in the event anything happens. You're retired.
Once I got that all set. Ive bought the cool car,the boat, the vacation home. All those you can finance without any worries once you have that solid balance sheet. So im gonna get flamed for this but trust me. Stockpile your cash today, buy a great home in a great area when you can and pay that thing off ASAP. That is step 1. When that is done, build your portfolio and stuff it with great dividend champions when the time right, right now isnt the time most are trading at high historic multiples. When thats all set you should have a few million dollar net worth and security for you and your family forever god forbid something happens to you.
I had a 35 year old friend recently a dentist go paralyzed from an aneurysm. I dont think he was prepared and I worry what happens to his family now bc he had a stay at home wife. Dont let that happen to your family, a paid off home, is a place forever as long as you can pay the taxes and utilities.
1)Buy a home
2)pay off that home
3) build a dividend portfolio that can pay your property taxes for life.
From there just enjoy life man. Its too short to worry about squirreling away and saving/investing all that stuff. A home paid off in a good neighborhood is a great asset and as long as you have a portfolio of multiple names that have a solid dividend history that can pay your bills in the event anything happens. You're retired.
Once I got that all set. Ive bought the cool car,the boat, the vacation home. All those you can finance without any worries once you have that solid balance sheet. So im gonna get flamed for this but trust me. Stockpile your cash today, buy a great home in a great area when you can and pay that thing off ASAP. That is step 1. When that is done, build your portfolio and stuff it with great dividend champions when the time right, right now isnt the time most are trading at high historic multiples. When thats all set you should have a few million dollar net worth and security for you and your family forever god forbid something happens to you.
I had a 35 year old friend recently a dentist go paralyzed from an aneurysm. I dont think he was prepared and I worry what happens to his family now bc he had a stay at home wife. Dont let that happen to your family, a paid off home, is a place forever as long as you can pay the taxes and utilities.
Posted on 6/1/16 at 12:13 pm to dabigfella
I agree on the dividend stock. I have some pm and Mo stock that was gifted to me 5 Years ago. It has done very well over that time. With i think mo averaging 18% return a year.
My dad recently (a couple of years ago) changed his investment strategy to mostly dividend based in planning for retirement.
I agree that with a higher income, there is more room for error. At the same time, I enjoy investing and learning about investing. It is a conversation piece, and another hobby (like I need something else to spend my time on).
Thanks for the advice though.
My dad recently (a couple of years ago) changed his investment strategy to mostly dividend based in planning for retirement.
I agree that with a higher income, there is more room for error. At the same time, I enjoy investing and learning about investing. It is a conversation piece, and another hobby (like I need something else to spend my time on).
Thanks for the advice though.
Posted on 6/1/16 at 1:50 pm to dabigfella
quote:
3) build a real estate portfolio that can pay your bills for life.
FIFY
quote:
Ive bought the cool car,the boat, the vacation home. All those you can finance
I'm paying cash for a cool car. F financing.
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