[Delambert]

I am 30 years old, no kids, I have my own house I still owe 180k. I have a new job in cybersecurity making around 50k but I plan to move up. I have been in the national guard for 10 years with 5 years being active guard, in 10 more years I will retire. I don’t have any investments or businesses and I want to make my money work for me.

Is there anyone that can give me some guidance on what I should do in my case to make more money and retire?

Some ideas I have are;

Writing a book.

Making a meal prep plan business.

Doing you tube and hope to get lucky.

Put my money in a Roth IRA.

Buy crypto and hope to get lucky.

And a few other small ones, but I want more ideas.

I don’t plan on having kids and I would like to make a passive 4k to 5k a month in the future.

[Josh]

Househack Househack Househack

And learn more about real estate as you go. Try and get a fourplex or large room and split off as many bedrooms as you can and rent per room.

Check out biggerpockets and do your research there.

[Ernest]

The difference btwn your current salary and avg for the field is larger than the amount you’d make even for publishing a successful book. I’d focus on advancement opportunities within your current field.

Also, check out: I am 11 years out from retirement because of a pension that I will get

[Locutus]

Remember the number 1 rule. You don’t own your home until you pay off your mortgage.

[Julia]

Do you have a security clearance from the national guard? My fiancé works in cyber security… came of out the army with zero IT experience but a clearance and he’s quadrupled his salary in 2-3 years looking for cleared jobs in cyber security.

The recruiters are beating his door down and he has a lot of leverage with negotiating salary.

He was fortunate to come out of the army with the clearance but it’s my understanding that you can get a company to sponsor one for you – and they’re good for a a few years after if you leave the company who may have sponsored it.

I don’t know. I’m not the right person to explain it. But if you haven’t already explored that avenue, I would look into it more.

[Lawrence]

Great job so far! Stop saying “an get lucky” and realize that the same dedication that you put into the great shape you are in right now with hard work and focus is the exact same formula for any of the things you listed above. Everything is possible and sky could be the limit for everything mentioned, you have to just pick the one that most aligns with your joy, your heart and your purpose and put that full dedication into mastering your craft and the vision you have. Cheers and best of luck!!

Don’t forget to take a look at: Accessing 401k in early retirement without 10% penalty, which is better SEPP or backdoor Roth?

[John]

First, cross off any ideas that end in “get lucky”. I don’t know enough about you to accurately suggest what side gigs would be a good fit. You could likely code for your own cybersecurity start up just as easily as starting a side gig walking dogs.

I do know that focusing on your main occupation and fighting for fair pay for your work is often better than a side gig. Work smarter, not harder. It sounds like you’re underpaid for your profession. Work on building up your salary and the value of your work 🤷‍♂️

House hacking, as others have mentioned, sounds like a good fit for you too.

[Carnot]

If you don’t have a Roth IRA open already, open one immediately, even if you only put a small amount in. Some of the regulations around Roth make it much friendlier after the account hits the five-year. Mark. Start that clock running.

Once you have saved money in a Roth, you then have to figure out what to invest it in. Index funds are probably a good fit for most people.

Would you also like to explore: Is the Florida panhandle or tennessee a more affordable retirement option?

[Elliott]

Great question to begin thinking about now. I know a bit about starting a passive online business. Little starter advice, make your idea quickly without creating a website. Make your MVP product in a weekend, and put it behind a paywall, using a simple Stripe Payment Link- check if anyone would actually buy it. If so, iterate to make it better and keep going.

[Author]

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