vet

Senior SDR

What to do with the money?

base salary for life, commision for investing.

i have been doing that for about 6 years. bought 4 rentals, sold 3.

Now I got about half a million after tax season... what to do?

in my late 20s... parts of me want to throw it into a dividend ETF and live in South East Asia on $1k a month (itll work on that, making it work is not the problem)...

Can I take a year or two off to travel or will that just wreck my career? seems like so many are having trouble looking for work, while I am trying to figure out if I even want to work.

Any advise on investing money, time, or careeer will be appreciated. everything else I wont respond too.

🔓 2024

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oldcloser

Arsonist

💀

dogecoin to the moon
no response necessary

jefe

Arsonist

🍁

coletrain

Politicker

Account Executive

Much wow, very success

CuriousFox

WR Officer

🦊

My smooth brain loved Doge.....and GME for a bit 👑

Fucking auto correct

fuzzy

Notable Contributor

CMO (Chief Meme Officer)

Dogecoin paid off my loans and bought me a 5br house 😎

jefe

Arsonist

🍁

You've earned your CMO title.

My BTC has gone up like 300% but I put next to nothing in lol

oldcloser

Arsonist

💀

That’s how I roll too. ✊

vet

Catalyst

Senior SDR

Getting rich is nice to think about but trying not to blow up my savings haha

TennisandSales

Politicker

Head Of Sales

first off your fucking crushing it. nice work homie.

I was a financial advisor for 5 years before getting into saas, so here is how I would approach the money stuff
this really all depends on what your goals are when it comes to what to do with the money.

I think of money in a few buckets: 1. savings account (random expenses that come up like car/appliance repairs ect)
2. emergency fund (6 months of expenses to hold you over if you get laid off. this can also become the "Fuck You" account. Where you have the freedom to do what ever the fuck you want)3. Long term savings (some ppl call this retirement but idk if folks our age think about retirement the same way other generations do)
With $500K you could dump money into each of those buckets for sure. the specifics of where to put money can differ of course a couple questions: - Do you want to purchase more real estate? - on a scale from 1 - 10 how comfortable with "risk" (market volatility) Are you?
- are you married / have kids? - are you able to contribute to a ROTH IRA or do you make too much money?
For the career question, my gut instinct is to say dont quit.but that also depends on a couple factors:- what would you want to do after your year off (get back into sales, or do your own thing?) - do you like your job currently
I really think your 20s are for learning 30s are for earning and sounds like you have done well on the earning part.

depending on your goals and industry i would focus on learning.
What can you do to get deeper into your career to increase your earning potential for the next 10 years not just the next 2.

Happy to chat more

vet

Catalyst

Senior SDR

Honestly just feeling burned out.

I travel a decent amount. Would like to live in another country for atleast 3 months.

Working remote feels like the way…

Its hard to plan for later stages in life, just want to live in the moment.

Took a gut shot today playing some option trading and lost $27K but options can go like that. It does seem like people keep telling me to just basically get rich.

So might have to figure out what my get out of the matrix number is.

886GFl

Opinionated

Account Executive

Oh damn 500k late 20s? You crushed it. Reinvest that money and take a vacation.

Then decide what you want to do. It may be worth looking into fully remote jobs that will allow you to live and work wherever.

vet

Catalyst

Senior SDR

I just did the Spain trip couple of weeks ago. Definitely thinking the same as you.

Could easily live off of $2K a month in Spain.

Might have to consider a remote job thats not intense like sales. I do like the competition and ego, wish I had more office friendships but thats whatever.

886GFl

Opinionated

Account Executive

It’s possible to find an inside remote sales job that’s less intense. Seems like you’re good at what you do since you earned lots of $. As long as you like sales still of course.

Because you have that money you can be picky and can afford time to find that spot.

Sunbunny31

Politicker

Sr Sales Executive 🐰

You're a Sr SDR making this much?
Gotta ask what industry, or if your title is not correct.
Also, congratulations - but as has been said, $500K in a few years isn't that much. You will need to work again, so have that in mind for whatever you choose to do.
Easy come, easy go is something that keeps me from slowing down.

vet

Catalyst

Senior SDR

I like to say that I am not trying to out myself on the internet. Much like you dont have a profile photo of your face on here.

Im an account manager in the electronic component industry, servers and microchips. The joke here is that I basically do what an SDR does but make commissions rather than paid for meetings.

Arent we all just SDRs in some fashion? Maybe not the sales engineers but what do I know.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Thanks! Not trying to catch you out; genuinely curious. Appreciate the explanation.

jefe

Arsonist

🍁

I've been wondering this... Explanation makes sense. Bit sneaky but I like it.

Justatitle

Big Shot

Account Executive

Real estate is only going to continue to rise. You’re at the point where you could own property and manage it. Have you considered buying an apartment complex in a popular/affordable area? Nothing crazy but you have enough to cover the down payment and then some

vet

Catalyst

Senior SDR

I have thought that, really rentals is how I built my wealth.

I just lost $27K in the stock market playing options, not the first and not the last. But the point being is that real eatate is the better investment as its slow and steady/ tangible.

Really though I want passive income and I think dividends are that. I do t want an apartment complex, I would be interested if I had the right management/partners or I could just invest in a ETF/REIT

Hard to tell, I got time.

jefe

Arsonist

🍁

Sounds like you've made some really solid financial decisions, good on you!

Nothing to add to what @TennisandSales said.

vet

Catalyst

Senior SDR

Thanks.

Trying to figure it out.

BigShrimpin

Catalyst

Account executive

it sounds like what your doing is working the best advice i heard is invest in what you know so if 90% of your knowledge is RE then allocate 90% of your investments

vet

Catalyst

Senior SDR

You right, i lost $27k in option trading today.

Made majority of my money in real estate though.

Regardless, lesson learned. Trying to figure out how to get passive income without owning physical property.

That being said, I got time and might be feeling some burnout.

BigShrimpin

Catalyst

Account executive

your best option if you dont want to own a property is investing in a REIT or syndication but you trade part of your return in that case for the hands off derisking
you can also explore the option of a property manager since their service fees are tax deductible but you really need to vet who you use for it.
True passive income usually has bad returns and anything with good returns probably requires some active management. Almost nothing outperforms boring index investing in the long term but real estate gives you unique advantages in leverage that you can use to compound and outperform that.

fuzzy

Notable Contributor

CMO (Chief Meme Officer)

I’d buy and invest in diversified income streams. Maybe an established business or multi unit properties. Or take the money as a down payment on a loan to buy vacant land and build townhomes.

I’m flipping a triple lot with teardowns into 6 townhomes to make $2.6m

FinanceEngineer

Politicker

Sr Director, sales and partnerships

Take a long vacation - but have a plan for when you get back. You will get bored.

SalesBeast

Politicker

Sales Leader

I would take a long vacation and keep working. I would rather keep grinding making money and retire a few yrs early vs take a long trip while younger and try to get back into things. Jobs after a long break are harder to find.
Also you said ‘if I even want to work’, not sure if mom and dad plan to give you cash or where money will come from but in your 20s 500k won’t last but a few years. You will need a job in the future unless you have something up your sleeve.

Epad

Executive

Snr Business Development Executive

That's insane wealth for someone under 30! Well done! You deserve a break as it sounds like you have the drive and focus to jump back into something whenever you return.
Seems like you have a pretty good investment knowledge already to make the money work for you so follow your gut (or advisor) and continue doing what your doing

vet

Catalyst

Senior SDR

I burned myself pretty bad today in the market.

Real estate is how I made a good amount of money.

Would say looming at the comments I am not the only one. Would be great to be a stock trader.. but you know I got some lessons to learn.

Took 10 days in Spain and it felt like a school recess.

Want to do 3-6 months in another country and slow travel between countries.

Armageddon

Opinionated

Enterprise Account Executive

wow thats incredible! You are setting yourself up for early retirement for sure. Travel is ok, 2 years may be pushing it though..

If I were you I'd travel for 6 months or something, put the rest in an ETF and get back and keep grinding with the goal of retiring comfortably by the time I'm 40. Then I'd join a country club and golf everyday, maybe buy a boat

Armageddon

Opinionated

Enterprise Account Executive

And don't forget a boat guy..

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vet

What to do with the money?

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