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How to achieve financial independence?
I'm 25, luckily I have practically no debts. I worked a stupid job for 2 years out of college, and just now got a new job in sales. It's for a software company and could be great if I learn how to sell but it'll never be enough for total independence.
Right now making 36k before comission, if I factor in commission I can be making upwards of 50k per year.
What I want though, is to not have to work. I want to have residual income that allows me to do what I want within a reasonable budget.
Ideally I would like to invest or do something that allows me to live off of $40k to $50k in dividends each year. A modest life but completely doable. Plus I'd be able to work and make even more.
I don't know how to do this hence my posting here. Although I'm only 25, I realized now that I was a retard in college and should've majored in something I can actually make money in. That's why I'm in sales now (not a biz major) trying to make money.
I just don't want to work my whole life and never have enough money. I want to be able to fully enjoy life, I'd like to learn an instrument, or learn how to paint. I truly want to be more creative and artistic, and I think the only way to do this is to be independently wealthy.
What stocks should I invest in? How much should I save up before investing? I already have $4,000 in chevron or something, and another 4,000 in a 401k from my old job. Should I try to get into real estate?
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Educate yourself.
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>>1582726
>What I want though, is to not have to work
Wow here we fucking go again. Every other thread on this goddamn board...
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>>1582833
dubs of truth but for real. I want to do meaningful work, for sure. I want to feel fulfilled in life.
But I would like the ability to either not have to, or to have the money to invest in learning a new, highly valuable, skill.
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>>1582726
OK so basically mate what you are asking is that you want to live off the money paid from dividends from a stock portfolio. You said you want 50k a year just from dividends. Now let's say you get an average dividend payment of around 7 percent a year from your portfolio. So if that is the case and this is not counting in taxes you would need to pay and also the economic markets ups and downs you would need a portfolio worth around 714285.71 so yeah mate try and work to get that much saved an invested in decent high dividend yield companies and you are all good.
On a serious note If you really want to get to near that and it won't be easy I would save up like 10k and day trade that and try to earn a 3% return each week so you can earn around 300 a week (not taking into account taxes and shit) and reinvest this money into your fund.
You have a lot to learn mate. Like have you even taken into account how much buying a house would influence you building your portfolio.
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>>1582726
You should just become a lurker on the stock market.
Invest (large) in a stock, Wait patiently for the right moment, When it's the right moment get your profit and reinvest in a stock again and wait patiently again, And so on.
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