Is 300k enough to quit my job?

[Anonymous No.16562469]

26 years old. Family member died. Received $300,000 after tax and after paying off debts. Never had a lot of money before.

I have a well-paying corporate job that I hate ($80,000 salary), only been working here for 2 years but it's been sucking the soul out of me.

Idk what I really want to do but I need a change. Have been fantasizing about quitting this job and travelling/taking a lower paying more "fun" job like bartending or something.

Has anyone done this? Any advice?

[Anonymous No.16562507]

>Is 300k enough to quit my job?
Not forever. Might be a good idea to use it for advanced education (grad school, law school, MBA), that way you get a much better chance at a job you'd actually like.
If you're really dead-set on just working a menial day job instead, you could probably get 2-3% interest by putting it in bond funds or a high yield savings account to get you $500-$600 a month to supplement your income.

[Anonymous No.16562514]

>>16562469
Find a good stock broker and give it to him, use what you get from that to take out loans for rental property, live off of the rent money you collect.

[Anonymous No.16562530]

>>16562469
Not its not, but you can significantly boost your income by acquiring $1M+ in real estate.

[Anonymous No.16562545]

>>16562469
No op it's not, $1.5 m is what it would take a frugal couple to retire permanently.

[Anonymous No.16562548]

>>16562507
Thanks. Getting an MBA or law degree is an interesting idea. Not sure how appealing going back to school would be, but i'll think about it.

>>16562514
>>16562530
I guess real estate is a good investment potential. Seems like it is a lot of work to manage rental properties, but maybe the process could be fun.

[Anonymous No.16562551]

>>16562469
Every job sucks to a degree

[Anonymous No.16562556]

>>16562548
If you control $1M of assets and get a good deal, you make $100-300K on day one.

[Anonymous No.16562592]

>>16562551
yeah I realize I am being a bitch by whining about my job.

Do people who "wake up every morning happy to go to work" actually exist or is it a meme? I feel like even if I had the best job possible on paper after a year or two of doing it I would become miserable

[Anonymous No.16562623]

>>16562592
i think if you work hard for many years to learn some tangible skill and get yourself on a team/project with other smart competent people doing something that is at least mildly intellectually interesting and working towards a larger goal that is also at least mildly interesting then yeah, i think it's possible to wake up every morning "happy" to go to work

[Anonymous No.16562633]

my only advice really is to largely not even spend the 300k unless it is on something that will directly benefit you financially. you skipped many, many years of wage slaving.

[Anonymous No.16562683]

>>16562592
I wake up 65% of the time happy to go to work, the other 35% of the time I'm so fucking over it. I'm on $84k a year as a council mechanical engineer, only do 7 hour days and there's pretty good variety in work. Mostly deal with HVAC, controls and bms. I remind myself once a week how shit laying bricks or being a removalist is (both of which I've done) and how little that pays in comparison and that cheers me up.

[Anonymous No.16562704]

>>16562469
Yes of course anon, don’t listen to the fucking wage slaves, take some time for yourself while you’re young

[Anonymous No.16562742]

No, it's not. You're better off slaving away until your 30s, and then reconsidering things then.

If you invested that $300,000, and averaged 8% a year in gains, while at the same time you were saving 50% of your after tax wage, by the time you are 30 you'll have $518,000.

[Anonymous No.16562825]

>>16562469
It is if you move to a "developing" nation. Some of them are reasonably safe, and many of them have nice weather.

[Anonymous No.16562851]

>>16562514
moral hazard

[Anonymous No.16563025]

>>16562469
i am doing the same as you OP. i recently got a lot of money from the sale of a family house (not as much as you).

I am quitting my job this year and buying a plot of land and building a cob house: https://www.cobcottage.com/workshops

once i have the house i will set up solar panels. might do a normal power line hookup if available. im a book worm so I just want to live in nature quietly, read books, and write movies with my friends.

if you want to do something I would suggest putting together a plan to see how long it would take to make an achievement and what your expenses would be (how long you could hold out without working). in my example, worst case scenario, I can sell what I have already built for higher than the cost of the land I purchased.

good luck and have fun. it's your life!

[Anonymous No.16563046]

If you live VERY VERY frugally and are smart and lucky with some investments that’s plenty and don’t let anyone tell you otherwise. It’s also very risky and you could get 15 years down the road run out of money and end up homeless or flipping burgers because of the gap in your employment history.

[Anonymous No.16563050]

>>16562469

Put half of it into eth and wait a few years, then retire. Stop being a little bitch.

[Anonymous No.16563053]

>>16563025

Got an email or discord or something? I’d like pics and to hear/see the progress and how this pans out for you. No homo. Good luck man

[Anonymous No.16563057]

>>16563025
damn this is pretty cool man, thanks for sharing. Where abouts is the land you're getting? Do you have any experience in this kind of thing?

[Anonymous No.16563082]

>>16562469
>bartending
Stop watching (((hollywood))) movies

[Anonymous No.16563092]

>>16562469
money can burn very fast if you arent careful, if you dont want to risk it, buy things that will always have value even if banks/fiat currencies crash.

[Anonymous No.16563100]

Fuck no. But you've been given a gift, dump all of it into major stock index funds and keep contributing to the account. By your 40's you will probably have $1.5m+ and be able to retire comfortably.

Unless you want to live like a pauper right now.

[Anonymous No.16563105]

>>16563100
>stocks
>the future
lmao, stock market is going to crash within 6 months

[Anonymous No.16563109]

Put $200k into link right now and pick up a 100k stack, you’ll be set for life

[Anonymous No.16563136]

>>16563105

Stocks always crash retard, and then they rise again. The running average for the past 100 years, including all rises and falls, is 7% year over year for the American stock market.

If you make your investments in fear you will get nowhere.

[Anonymous No.16563139]

>>16563100
digits. this anon speaks the truth. you got 60 odd years ahead of you. how do you want to live those years? do some maths, work it out.

[Anonymous No.16563190]

>>16563136
this time they will crash completely, and not recover.
ALL FIAT CURRENCIES WILL FALL IN 2 YEARS. EUR AND USD ARE DOOMED.

[Anonymous No.16563209]

>>16563190

If the stock market "permanently crashes", then society is fucked. It will be depression tier or worse, paper money will be worthless, your job won't exist, major systems will fail, the only worthwhile things will be land, guns, food, etc. So you might as well ride the one ship that is GUARANTEED to get propped up by ALL powers that be in the event of a serious crisis: the stock market. Which has shown serious staying power so long as the US remains the world's foremost power.

[Anonymous No.16563222]

>>16562530
>Not its not, but you can significantly boost your income by acquiring $1M+ in real estate.
300'000 for a downpayment acquiring $1M+ in real estate and then?

[Anonymous No.16563240]

>>16563053
[e-mail] (no joke)

>>16563057
missouri. no experience, im taking a course (like the one linked earlier) later this year. once I do the course and get some physical work in, i'll start getting tools to the site and then ill quit as I go along building

[Anonymous No.16563263]

>>16563190
>this time they will crash completely, and not recover.
there's not a valid reason for this unless USA turns itself into a complete shithole. This means that the entire world will go to shit.
Go Bac to /pol/ white trash

[Anonymous No.16563277]

>>16563209
>So you might as well ride the one ship that is GUARANTEED to get propped up by ALL powers that be in the event of a serious crisis: the stock market
why do you say ''it's garanteed to be bailed out'' ? Why ''garanteed''?

[Anonymous No.16563280]

>>16562742
Good advice

[Anonymous No.16563287]

>>16562514

Are you shitting me, how is 300,000$ going to establish a rental empire? Do you live in a favela?

What OP should do is buy a decent house somewhere he wants to live, use the leftover money to find himself a job he enjoys doing and then he is set for life and can take it as easy as he wants.

[Anonymous No.16563293]

go all in on tezos and live off staking rewards

[Anonymous No.16563299]

>>16563277

The government depends on it. The world's richest men depend on it. There's a reason why it keeps getting bailed out by you, Joe Taxpayer. Investing in the stock market means tying your cart to the strongest ox in the game.

Want to know how serious they are about it? Obama instructed the Fed to literally pump out more money and feed it directly into the stock market in order to make it rise when they wanted to. There is no other major investment that has that kind of Jewry powering it to inevitable appreciation.

[Anonymous No.16563312]

>>16563287

>this monkey

You put 20% down on a multitude of multi-family homes in a city area that has decent price to rent ratios. Collect tons of rent and use that to pay for the mortages, as well as money for yourself. If you pick a good area your properties will probably appreciate as well.

[Anonymous No.16563327]

>>16563209
no, it will be just a period of chaos and it will result in a society that completely runs on crypto and blockchain, any other future is doomed and humanity will die than this.
All countries will need to fall in order for humanity to succeed, and fall they will.

[Anonymous No.16563333]

>>16563327

Now THIS is delusion

As if crypto doesn't depend heavily on outside wealth as well as 1st world infrastructure to keep it running

[Anonymous No.16563353]

>>16563240
>once I do the course and get some physical work
a course for writing movies and then you land to a job?

[Anonymous No.16563364]

>>16563299
>The government depends on it. The world's richest men depend on it.
this is true. But according to metalchads/silverchads the richest secretley is switching to gold and silver (JP morgan buying gold)

[Anonymous No.16563377]

>>16563364

Shiny metals are a meme. If we get to a point where we're relying on fucking gold as I said, all this talk about your investments won't matter, only physical things will, and your own ability to navigate this new post-apocalyptic economy.

[Anonymous No.16563380]

>>16563299
>Obama instructed the Fed to literally pump out more money and feed it directly into the stock market
I figure it out that this could end one day...cause bubble need to pop sometimes... every bubble it's always the same... retards and laggards in the end investing for ''garanteed money'' get fuc*ed cause there is really no garanteed money in this shit blue planet
the fact that it's a garanteed 7% per year it's the evidence that's a ponzi/bubble ready to be reset maybe

[Anonymous No.16563384]

Since everyone here as the iq of 40 trying to get you to pump up their worthless shitcoins I’ll give you some real advice. Pay off your debts. All of them. If you’re not a school person you’re lucky as shit. Get a blue collar job, master a craft. Plumbing, electrician, carpenter whatever. In the meantime do NOT put your money into the stock market. The gains you could conceiveably make would be minor compared to the losses you WILL see in 2020. 100% the market will crash in 2020. So what to do. You could sit in that cash and wait for the markets to tank so you could buy them on the cheap. You could buy some cheap mining stocks like:
Couer mining
Fortuna silver mines
First majestic silver
International tower hill mines
America’s gold and silver
Hecla mines

And see your massive gains. The dollar is tanking, the debt is unsustainable and this entire economy is built on consumer debt based consumption and market intervention by the federal reserve. My stocks have gone up 10% in 2 weeks since I bought my miners on December 6th.

You’re in a great opportunity to make that one great lifetime decision that will make you retire early. Do not fuck this up. Do not buy amazon stock or Facebook or some shitcoin by some retarded basement dwelling incel from this board. Be smart. Pay off your debts, find a trade, stay in cash or a safe large cap miner and watch that money grow while you continue to earn. You will retire early but you’re not done yet. You cannot survive off 300k. Unironically the markets are going to tank which is a great opportunity for you to jump in once they do. Best of luck sorry for your loss.

[Anonymous No.16563392]

>>16563312

Your niggergettho will be smashed to bits by retards calling you at all hours of the night to fix the toilet they knocked over or some such bullshit. The rental market in my area is absolute bullshit and managing these properties is not as easy as it looks or suitable for everyone, its not an absolute go-to because it is a total gamble investment which has and will blow up many times.

[Anonymous No.16563393]

>>16562507
>waste your moeny on education for autists instead of going all in on bitcoin and retiring with 300,000,000$ in 10 years

[Anonymous No.16563402]

>>16563384
>buying the "bottom" on of meme stocks

[Anonymous No.16563410]

>>16563380

No, it's 7% including the crashes. So in a good year you're making 20-30% in a bad year you're crashing 30-40%, but the crashes are few and far in between.

The Great Depression was an incredible crash that hasn't been matched since, the market is a lot more liquid and efficient now so weird shit like that isn't likely to happen anytime soon.

[Anonymous No.16563422]

>>16563392

If you find a good PM and focus on C-class and better properties only this whole effect is negated. It's easier to find good rental properties than it is to find a long term winning stock, and these mortgage rates are insane. They offer fantastic leverage.

OP could buy 10 ok properties in a mid-major midwestern cities and start turning serious cash-flow, use that to buy even more and let compounding work its magic. Yes, it's an involved investment that takes interest and dedication but there is no more straightforward way for a common man to become legit rich.

[Anonymous No.16563429]

>>16562469
>Family member died. Received $300,000 after tax and after paying off debts.
I want to kill you. I hate lucky privileged people. And also, obviously it is if you buy 100k usd worth of btc, real eatate for passive income, a couple k to start an online business, and the rest idk. More btc maybe or gold. Alts are shit

[Anonymous No.16563433]

>>16563136

This. All of the stock market losses of the last 100 years were made good, and it's mostly because of an elastic money supply that doesn't show up in price inflation, but instead asset inflation.

That doesn't mean that stock markets don't correct though. Biggest corrections in the last 100 years;

Great Depression: 80%
1975 Crash: 45%
2008: 60%
2000 to 2003: 35%
1987: 33%

There are a whole bunch of 20% to 10% retracements throughout the post WW2 era, surprisingly a lot were in the 50s and 60s.

[Anonymous No.16563439]

>>16563384

I am somewhat in the same boat as OP in that I inherited a house and have started a trade apprenticeship in the most technical and highest paid field, in a job I actually find interesting. If I did not have the house I could not survive on the shit starting wages so that was a bit of luck to slingshot out of the poverty trap.
At least when you have a trade you can work anywhere and dont need to take bullshit .

[Anonymous No.16563466]

>>16563333
>only unconfiscatable immutable asset ever will not go up when measured against infinite supply fiatolas
imagine

[Anonymous No.16563497]

>>16563410
>The Great Depression was an incredible crash that hasn't been matched since, the market is a lot more liquid and efficient now so weird shit like that isn't likely to happen anytime soon.
why that time it wasn't so liquid?

[Anonymous No.16563519]

>>16563393
You’re a dumbass

[Anonymous No.16563521]

>>16562469
>quitting job for le travelling meme

imagine being this uninteresting of a person. oh you want to vacation? so does everyone else

[Anonymous No.16563527]

>>16563497
uh...electronic transfer of property and ownership, for one? doing things by personal phone itself was like a 1000x

[Anonymous No.16563535]

>>16563439
Dude all of the blue collar guys are millionaires. None of the zoomers or millennials want to do physical labor so there is a shortage of good honest workers. Owning any of these companies is the best way to make a lot of money. Plumbing owners near me all buy whatever cars they want and are multi millionaires killing it.

[Anonymous No.16563583]

>>16563353
no, sorry, guess i wasnt clear, a course for learning how to build with cob. the movie stuff, yes, its what i do as a side job now so i have some experience. the last movie i produced went to a lot of film festivals this year. 2020 will be a good year if i can drop the main job and focus on writing/producing

[Anonymous No.16563702]

>>16563521
Imagine being so uninteresting that only a job defines who you are. Fucking LOL. Youre the uninteresting one, robot

[Anonymous No.16563855]

>>16562469
>Any advice?
Buy a house in cash. Invest for enough passive income to cover utilities and food. Then start investing 50% of your income into additional passive income (dividend stocks/real estate) and the other half into precious metals

[Anonymous No.16563868]

>>16563384
>the debt is unsustainable
there is no reason for ''no printing more money/solve the debt''

[Anonymous No.16563878]

>>16562469
damn i have never had money, i want an inheritance - still, I don't envy you, I had a good time in my 20's so far without $$... And I didn't waste it wage cucking. I couldn't imagine having to ask on a taiwanese paper making bbs how to enjoy my life with 300k in the bank

[Anonymous No.16563880]

>>16563384
>entire economy is built on consumer debt based consumption and market intervention by the federal reserve
could you explain a little bit deeper this concept please?

[Anonymous No.16563886]

>>16563497

The argument is that the Fed didn't move fast enough to reflate markets. I'm inclined to agree.

The credit cycle is the economic cycle.

[Anonymous No.16563887]

>>16563519
If you don't think his advice is good you should die in a fire in minecraft

[Anonymous No.16563889]

>>16563312
>You put 20% down on a multitude of multi-family homes in a city area that has decent price to rent ratios
house's market gonna collapse

[Anonymous No.16563897]

>>16563880

Society is a pyramid, and those at the top get access to the greatest amount of credit at the smallest amount of percentage points.

[Anonymous No.16564010]

>>16562592
I had a job like this once. Was in the military and worked 12 hour days with a tight knit group of brothers. The work was tough and demanding, but the people I worked alongside made it worth it. Of course it all went to shit when we got shit people to replace the guys who had been there for a while. After that life was hell for the next 2 years.
I guess what makes a job satisfying is the rigor, the challenge, the people you work with, and the person you work for. If even one of these is off then the job will suck. Its a crapshoot, easier to win the lottery probably.

[Anonymous No.16564041]

>>16563384
Listen to this guy anon, best general advice you can get.

Wait for the crash to happen maybe 25% correction coming up.

But real estate + stocks. you can put 3% down on a FHA loan in USA

[Anonymous No.16564071]

>>16563433
>This. All of the stock market losses of the last 100 years were made good, and it's mostly because of an elastic money supply
explain this concpet please. Why do you say:
''All of the stock market losses of the last 100 years were made good, and it's mostly because of an elastic money supply'' ?
What does it mean?

[Anonymous No.16564085]

>>16564041
>Wait for the crash to happen

[Anonymous No.16564087]

>>16563384
arent mining stocks risky as fuck, this sounds like really dumb advice.

[Anonymous No.16564139]

>>16564071

Expanding and contracting the monetary supply impacts asset prices heavily.

[Anonymous No.16564154]

>>16563702
seething

[Anonymous No.16564167]

>>16563886
>The argument is that the Fed didn't move fast enough to reflate markets
why should it reflate the markets?
What do you mean? Sorry ignorant in economics

[Anonymous No.16564174]

>>16563209
Japan had a "permanent stock market crash" after their bubble burst in the early 90s. The Nikkei still hasn't recovered since then. Their society still works okay, and they're still first world. It has a lot to do with population growth in a way, and Japan stalled on that front, preventing any long-term recovery. As long as population keeps growing, I'd think the stock market should keep going up, and the economy as a whole should keep growing.

[Anonymous No.16564244]

>>16564167

By providing liquidity to the banks so they wouldn't go under.

[Anonymous No.16564266]

>>16562556
How

[Anonymous No.16564278]

As usual biz gives awful financial advice to a guy with $300k. OP run away and post this on the bogleheads forums

[Anonymous No.16564451]

>>16563136
The "index" did not reach the peak of 1929 again until 1954

[Anonymous No.16564468]

>>16563287
>buy a house to live in and get a job

Fuck this anon try to go lord of finance tier.

[Anonymous No.16564481]

>>16562469
Alright OP, there are some good anons in here, but also many clowns. Want some actual advice? You've inherited a large sum of money, and you have said yourself you don't know what to do with it. If you don't know what to do with it, educate yourself or seek advice from a professional
>Acquire personal finance and investing books. Read them. Peruse similar websites online, and go deep with reading articles.
>Schedule consultations with a handful of financial advisers or investment agencies. Specifically ask them what sets them apart from competition and what they do for your money, as well as their fees. Write it down.
>Investigate Vanguard and the options they have available to you. I specifically recommend reading and looking at the # on lifecycle funds.
>Consider cryptocurrency, gold, or taking a large position on a collectible item (Think: Video game special editions, one time release clothing, etc.) for resale in 5 years.
>Seeding a business to gather passive income
If I was in your position, here is what I would do
>$100k towards financial adviser/investment group. Maybe 2-3 different groups if I couldn't find one that stuck apart.
>100k into my own vanguard account, investing in lifecycle funds
>20k into taking a position on sealed collectible item for later resale on a market I have personal knowledge on
>15k into high interest savings account, to sit as 6 month emergency fund
>45k for starting business or LLC to generate passive income, whether its an actual business or a server mining farm
>Last 20k for quality of life improvements, small gifts to people I care about, NEETBUX, vacation, weird collectible I've always wanted, etc.
As far as quit your job or not, up to you. If you do, get a job to cover your cost of living and casual spending dosh. I certainly wouldn't leave the 80k/year job right away.

[Anonymous No.16564492]

>>16562469

[Anonymous No.16564555]

>>16562469
It is. Move to Thailand or Indonesia. Learn to trade with $50K. The other $250K will last you about 10 years living lavishly.

Bonus scenario : You buy a few million Kleros, 10x it in 2020, and gain ETH while you stake.

[Anonymous No.16564590]

>>16563887
Bitcoin has ZERO value. Let me be clear ZERO FUCKING VALUE. YOU FAGGOTS NEED TO DIE FOR SAYING BITCOIN IS THE FUTURE. ITS GOING TO $.03762 WITHIN 2 YEARS

[Anonymous No.16564600]

>>16563880

The bubble has now been moved from the housing market to stocks and the US dollar. Start here to find the truth.

https://m.youtube.com/watch?v=jj8rMwdQf6k

[Anonymous No.16564616]

>>16564087
No they’re not. I’ve researched the ones to put my money in. Yes if you buy extremely over leveraged companies with terrible leadership and no track record of profits, high operating costs than yes it’s risky. They are not risky anymore. Precious metals are only going higher from here. I’ve investing money in a couple stocks I bought on December 6th. It’s Dec 14th im already up 10%. Research the companies I mentioned or if you want to be a complete boomer and invest in already established miners with institutional investors you can always buy newmont and barrick.

[Anonymous No.16564625]

>>16564266
Lets say you find a property that is in disrepair. You acquire it for 900K knowing properties just like it in better condition are worth 1.4M. You know it only needs 150K of work done. You pay 50K of fees/holding costs during renovation.

So you spent 1.1M for something worth 1.4M. Now just get it rented out and refinance out 75% of 1.4M or sell it for 1.4M to investors.

Your net worth went up by 300K in less than a year and you knew you were going to make 300K on day 1 because you did your homework.

Now, this an ideal situation, but I've seen countless properties bought for 15-20% less than they're worth. It happens all the time. Best case scenario, you resell in 1-2 years. Worst case scenario, you refinance.

[Anonymous No.16564637]

>>16564625
Or you could just buy certain stocks and make a casual fucking 25% without moving a muscle except your finger.