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Hello,
I would like to ask for some advice regarding investing profits from a business exit.
I am 25 years old from Eastern Europe and I am about to sell my business for around $2M (applied lessons from both books, thanks MJ!). I do not plan any major expenses in the upcoming years, so I would like to invest pretty much all of it. I have read both The Millionaire Fastlane and UNSCRIPTED so I do have a rough idea about creating the “unscripted money system”, however, I am a complete newbie in investing.
The thing is that I still have to run my business and I spend most of my time working so I do not have the time to research and learn about investing. As of now, most of my business profits are just sitting in my checking account, which really hurts to even think of the lost interest I am not getting. I would like to change that and find a solution I could implement right away before I get more time to learn more.
The biggest issue when researching a simple investing strategy is that all of these strategies are aimed at 40+ years of investing for retirement (Slowlaner strategy). Obviously, I do not want to do that. Since I live in Eastern Europe, my living expenses are around $1500 per month, so I should be able to retire already.
Most of the strategies are about investing in index funds, however, since I live in Europe, I can invest only in ETFs (and stocks). I have an account in Degiro so I am able to access a wide range of products. As I mentioned before, I am looking for a very simple strategy that I could implement right away. Based on my understanding, going for 70% Equity / 30% Bond ETF investing would be a viable strategy. The majority of the Equity investment would go in an S&P500 Index fund.
On the other hand, such a strategy seems to be better for long-term investing and not creating a proper monthly “paycheck pot” since it can be quite volatile and I will need the income regularly to cover my expenses.
With that being said, I would truly appreciate if you could share your experience:
1) I am looking for a simple strategy I could implement without doing an extensive research
2) 3-4% per year would be more than enough to cover my expenses
I was also wondering, once I get the time to really dig into this and research properly, what kind of resources can you recommend to learn about investing?
Thank you very much!
Take care,
M.
I would like to ask for some advice regarding investing profits from a business exit.
I am 25 years old from Eastern Europe and I am about to sell my business for around $2M (applied lessons from both books, thanks MJ!). I do not plan any major expenses in the upcoming years, so I would like to invest pretty much all of it. I have read both The Millionaire Fastlane and UNSCRIPTED so I do have a rough idea about creating the “unscripted money system”, however, I am a complete newbie in investing.
The thing is that I still have to run my business and I spend most of my time working so I do not have the time to research and learn about investing. As of now, most of my business profits are just sitting in my checking account, which really hurts to even think of the lost interest I am not getting. I would like to change that and find a solution I could implement right away before I get more time to learn more.
The biggest issue when researching a simple investing strategy is that all of these strategies are aimed at 40+ years of investing for retirement (Slowlaner strategy). Obviously, I do not want to do that. Since I live in Eastern Europe, my living expenses are around $1500 per month, so I should be able to retire already.
Most of the strategies are about investing in index funds, however, since I live in Europe, I can invest only in ETFs (and stocks). I have an account in Degiro so I am able to access a wide range of products. As I mentioned before, I am looking for a very simple strategy that I could implement right away. Based on my understanding, going for 70% Equity / 30% Bond ETF investing would be a viable strategy. The majority of the Equity investment would go in an S&P500 Index fund.
On the other hand, such a strategy seems to be better for long-term investing and not creating a proper monthly “paycheck pot” since it can be quite volatile and I will need the income regularly to cover my expenses.
With that being said, I would truly appreciate if you could share your experience:
1) I am looking for a simple strategy I could implement without doing an extensive research
2) 3-4% per year would be more than enough to cover my expenses
I was also wondering, once I get the time to really dig into this and research properly, what kind of resources can you recommend to learn about investing?
Thank you very much!
Take care,
M.
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