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In my career I have been fortunate. I will be getting some good monthly amounts starting in August. Not LIFE changing money but enough to play and invest with.
I am not one to just put it all away into a retirement account. I take most current extra money now and manage my own portfolio of various things. We do have retirement accounts too, I am just not an advocate of maxing them out every year.
Last year we purchased and revamped an existing RV rental business and oh BOY has is exploded. We started with 4 units now we are at 12 - most of which are under contract until the summertime. I would like to do other similar things. Place safe bets on small businesses either existing or startups and have multiple sources of cash flow from multiple industries to diversify.
There is another business here we are in preliminary talks about buying as they want to close in May. Have also been looking at purchasing storage facilities. They move so fast though - hard to snag one! Not used to looking at 10 year payouts as a GOOD thing though.
Even thinking of getting into AirBnB'ing a bit. Setting up some "weekend escape" type places. We could also have them for our own personal use anytime we wanted - dual purposes if you will. This has served us well with the RV business as we go camping frequently. We just go to the lot pick whichever one is there and take off. Something we can personally benefit from and financially benefit from.
What businesses or investments are you involved in? Pros cons? Did you start it yourself or buy existing? What investments do you do regularly? Stock it away in a 401k, manage your own, use a financial advisor, or a mix of it all?
Just looking for real stories and situations from people.
I am not one to just put it all away into a retirement account. I take most current extra money now and manage my own portfolio of various things. We do have retirement accounts too, I am just not an advocate of maxing them out every year.
Last year we purchased and revamped an existing RV rental business and oh BOY has is exploded. We started with 4 units now we are at 12 - most of which are under contract until the summertime. I would like to do other similar things. Place safe bets on small businesses either existing or startups and have multiple sources of cash flow from multiple industries to diversify.
There is another business here we are in preliminary talks about buying as they want to close in May. Have also been looking at purchasing storage facilities. They move so fast though - hard to snag one! Not used to looking at 10 year payouts as a GOOD thing though.
Even thinking of getting into AirBnB'ing a bit. Setting up some "weekend escape" type places. We could also have them for our own personal use anytime we wanted - dual purposes if you will. This has served us well with the RV business as we go camping frequently. We just go to the lot pick whichever one is there and take off. Something we can personally benefit from and financially benefit from.
What businesses or investments are you involved in? Pros cons? Did you start it yourself or buy existing? What investments do you do regularly? Stock it away in a 401k, manage your own, use a financial advisor, or a mix of it all?
Just looking for real stories and situations from people.
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