Quote:
Originally Posted by asphaltgambler
Now we have very little debt, I just just interviewed for the next level position that is 2 pay grades higher and fully expect to get that (as I'm told by my supervisor) by end of this month. My wife has a solid career in the health-care field. So we are now on the right track career-wise.
We have some money left, I started a 401, now looking to continue my success with something(s) different. I do some auto / classic car - motorcycle consulting (buying, pricing, repairing) but it is sporadic and sometimes requires more time than money returned to make it worthwhile.
So I would summarize that: I'm looking for something that is more unconventional, low risk, short turn around but has consistency.
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Good info. It's very necessary to know these kinds of things before giving any advice.
"unconventional, low risk" are mutually exclusive. If it's unconventional it's risky (hasn't been tested) and if it's low risk it's conventional enough and been done enough to
know it's low risk.
You have about a 10 year time horizon in which to work before you retire, so you can't weather a lot of volatility. In your situation I would look at what the 401K is invested in and make sure over all you have balanced investments in no-load large cap, mid cap, and index mutual funds. Keep enough $$ in at least one very consistent, low transaction fee fund for a "working" fund. It will earn for you hands-off until you find a car to flip or some other way to use your skills to make some big, quick money. Cash out the fund for $$ to make the deal with, flip the car or whatever and get the money back into your "working" fund. In some sense that overall strategy IS a bit unconventional.
You've got a lot going for you. The main thing you're short on is time, but you can make up for some of that with clever application of your skills when there is a chance to really cash in on them.