Hi, I am 24 and want to build different income streams since I have a lot of disposable income. And wanted to ask if it makes sense to invest into stocks or buy/build more companies/buy property.
I know for some this is enough money which I earn and I agree but I am very paranoid that I could loose everything (financial crises/accident/sickness etc.) or might need the money so want to divide risks/have different Income streams. Of course my dream is not "having" to work anymore but this seems far way
The facts about my situation:
- Stable job 150K/Year.
- My partner makes 60K/Year.
- I have 80K (total) in 3 stocks where I invested 40K But I knew these companies personally, so it was different until now.
- I have 120K cash.
- I get all the income from my partner but pay/manage everything
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I have to pay about 15% tax each year.
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I own half of a company (IT) 200K/Year profit (only have it for 1 year). It should make about 500k profit next year (have the contracts already). I would like to buy a property for this since we had to employ more people and working out of the basement is becoming an issue (but me and my business partner would live there as well). We are looking at properties in the range of 2-3 million (but would take this with a credit for tax purposes)
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There is about 250K cash in the company but as I said before we want to buy property with it (probably will need the 500k next year as well).
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My yearly expenses are in total 50k a year (we don't travel, eat out, buy clothes etc. just the occasional video game.
I am happy about all suggestions and advice. Feel free to ask more questions about my situation I am happy to answer (not something like where I work or my name of course).
Thx, in advance.
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