Steve is 51 years old. He hates his job and has $250k saved up that he really doesn’t know what to do with. $150k of it is in a self-directed IRA and the other $100k is in the bank. He owns a rental property and a personal residence – both of which still have mortgages.
Steve has mentioned going on a 1-year sabbatical to volunteer internationally, and has also toyed with the idea of starting his own business to free himself from the job he hates, but doesn’t want to do anything that’s going to sabotage his future retirement.
- What should Steve do with his $250k?
- Should Steve start his own business and/or take a sabbatical?
What do you think?
Steve, I’ll give you my response in the video below, but I’ll leave it up to my readers to agree or disagree (Readers: share your thoughts in the comment section at the bottom of the page). Best of luck to you!!
Links referenced in video:
- One of my top articles: “Are You Saving Enough For Retirement?“
- My free step-by-step guide to starting your own blog
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.