So, I'm not looking for angry or jealous responses here… I'm genuinely interested in how some folks would invest if they were in my shoes…
I'm a 33 year old male living in Orange County California. I moved here from Florida and haven't yet been able to accept that rent for an avg 3br house runs $3,000 a month. For this reason I sublet one room in my house for $1,400 a month. I also have a home in Florida that I bought in 2005 which I rent out (mortgage is covered).
All in (not counting the Florida home which is being paid for by my tenants) my monthly expenses run about $3,500 a month. This covers rent, utilities/cable, a new truck payment I have (another truck and motorcycle are paid off), vehicle insurance, my cell phone, and child support for a daughter from a prior marriage. I have $0 in credit card debt and have never had student loan debt (GI Bill).
After I max out my 401K ($1460/mo) and pay the above bills I am left with about $5,700 after taxes each month. I just saw the new figure as the Dec 1st check is the first with my most recent salary increase (promotion).
So, with my company match my total 401k investment is about $23,000/yr. I just upped my IRA contribution to max that out at $6,000 a year and have been considering adding onto this with monthly $1,000 purchases of silver at market prices.
This still leaves me with +$4,200 a month even though my investments would break $40k a year.
How would you invest? What would you keep for fun?
Read more: What percentage of your income would you invest vs keep for discretionary spending?
