Category: Reader Mailbag

Reader Mailbag: “I’d like to earn extra money in hopes for a new home. Early retirement would also be great!”

Larry, you have two pretty large goals here: buying a new house one one hand, retiring early on the other. The first thing I’ll say is that accomplishing the two concurrently could be difficult, but that largely depends on your means, age, and time frame (for both goals). That said, amazing things can be accomplished in a short time frame, even with relatively modest means…

Reader Mailbag: “I’d like to purchase a $550,000 home next summer and pay cash for it. I have very little money to start with.”

Hi Martin, that’s an incredibly lofty goal you have there. To start with very little and end up being able to pay $550,000 cash for a house in less than a year sounds, well, impossible. Unfortunately, there’s no investment guru in the world who’s going to be able to get you from A to B magically. That’s just not how investing works. And so what I’m going to do for you is provide some food for thought and make sure you have reasonable expectations.