31M feeling lost and behind
Really committed to saving and investing the past 2 years and have a goal of fully maxing out Roth401k, Roth IRA, and investing an additional $50,000/year into my taxable brokerage. Hate the idea that I can't touch my 401k/IRA for some time. Where would this put me in 20 years?
I'd like to purchase a home in the next 2-3 years, but they are pricey where I live and a good home is going to be $500,000 so I feel it is much cheaper to rent.
I am doing my best to save as much as I can, I have a fully functioning car that I paid for in cash, work from home, and rent a 1 bedroom in a top 10 municipality for $2,200/mo all in
I know I am late to the investing game and really only started a couple of years ago. I wish I would have started sooner, but graduated from college and was making $30k-$45k for a few years. Have managed to greatly increase my income by working in technology sales
My last 5 years have been as follows:
- 2021: $104,000
- 2022: $140,000
- 2023: $230,000
- 2024: $220,000
- 2025: $240,000
Am I going to be in this corporate 9-5 forever? Ideally want to save and spend some money acquiring a business from this 'silver tsunami' and become an owner/operator that works ~20 hours a week by the time I am 55.
Would love thoughts/advice from anyone who has purchased a business to build wealth