If you had $350,000 in your IRA and $650,000 of cash, how would you invest?
Hey traders and friends from around the world! I thought it would be enriching if I created this post about an amazing and lovely email I received. This is verbatim my reply to the email. I thought "surely someone else in the world has a very similar question". If you have any other questions after reading this post, please let me know. My email is firstname.lastname@example.org
The below image is simply a screen shot of the title of his email. That was his email he sent me in it's entirety. I realize I replied to him with only $650,000 in value but he got the picture. :)
A pretty loaded one too, but I will reply under the disclaimer that I am not a licensed to provide any financial advice whatsoever. You can always email Brad Reed at email@example.com
In the meantime, if it were me personally:
I would rent the four properties out as often as I could. (I'm sure you already do this). I would also scour airbnb.com It's a great website to use for people traveling and excited about short term rentals. Like a hotel, or bed and breakfast combination, but your house.
Thirdly, I would park the $150k in a super safe, conservative bond yield / annuity or something
Fourth, I would take another $300k and trade it. I would find good dividend paying stocks, with weekly options, draw my support and resistance lines and 'buy low, sell high'. Once I bought it, if the stock didn't move very much I would begin to do covered calls until I got the shares called away for a profit and collect dividends the entire time.
So I have $200k left right I would take $150k and put it in my 'play, travel, see the world with my wife/family' fund and do that, enjoy my time and life .
With the remaining $50k I would think long and hard about a business that I want to start. Something online and something small. Maybe selling fishing lures, or build yourfirstnamelastname.com
That's just me though!!! I hope this helps!!"
I hope the above email and discussion helps you too to just get an idea of what I personally would do if I had that exact amount of money. I really am just providing my opinion of what I would do personally. Keep in mind, I am not licensed. If you seek financial planning advice, please reach out to Brad@reallifetrading.com and he will connect you with one of our team of incredible Real Life Traders (who are also licensed financial reps!