About me:
25 (26 in may)
Assets:
Car (beater) 1500$
Bank: around 16600$
Roth ira 21000$ (currently set to monthly withdrawals of 480 or so to max 5500 for 2018)
Cash/business liquid inventory (I'm self employed in direct sales): around 34750$
stocks: 400$
Bitcoin: $1500 (original cost was 4000 *ow, I intend to hold long)
House: 80,000 equity (200k mrsp, I owe 120k)
Assorted house stuff (garage gym/tvs/all the other stuff): 5000?
Debt:
Student loans- 11000$ student loans (I graduate in fall 2018 and no interest accrues until 6 months from january at around 4%). I took them because they were interest free. Haven't used them.
Mortgage: 120k
Credit cards: currently 700$ (they pay off every month)
Current Income:
-self employed. 25k a year plus extra (sometimes I have a renter in the house @600/month, currently selling my neighbors house for them at 1% of 400k)
*also plan on $500-1000 annually in credit card churning the next few years using them to pay off loans and directly pay off the cards for the bonuses
Expenses:
monthly mortgage 584$
property Taxes/home insurance: around 320 a month
Utilities around 300.
Roth ira 480 or so
Extra expenses: Dog vet bills Girlfriend Gas food etc (say 200)
Total: around 1800 a month
Upcoming expenses:
fall tuition $2500 (last semester)
insulation for upper of home $1500
I've been out of the nest since I turned 18 and did a stint bouncing around from house to house while working in order to save money. Hence why my assets (cash and such) are high for the income level. I also drive a junky car, buy cheap groceries, etc.
So I've been trying to keep track of my finances better this year. Actually doing taxes quarterly instead of end of year/tracking all my expenses and income. I graduate with a degree in MIS/information security the end of this year and am hoping to secure employment by this summer.
The biggest problem for me is keeping all inventory details for my business as it's all cash based. Currently I use an app and excel spreadsheet. I was considering buying the app mint but it's a bit steep at 10 a month. I also struggle with spending on food and extras every month (this month I needed tools for car repairs $20, groceries $100, eating out $100, soccer rec league $50 etc-next month it could be a random boys night bar tab that runs 50 bucks)
My goals are to secure financial stability in the future. I have short term goals like purchasing a nicer car and such but I'll gladly ignore those if it contributes to a beach house and a sports car down the road.
My question is what type of investments should I be considering at my age? I know I'm getting started later and may have to sacrifice risk for returns but aside from my roth I've never had any insight to the options of investors. My family was always under the "if you can't pay cash don't buy it" mindset.
I'm also not sure if the path of study (management information systems) is the career I want to pursue. I work for 12 bucks an hour this summer as a data intern (just a few months) and it seems like all entry level would hinder my 8 hours a week self employed position and pay about the same. I was considering going into the trades (electrician) as I like to work outside and they make great money and benefits (girlfriends dad is a retired master electrician) or even going back to school and getting a degree in something like engineering.
Anyways any advice, direction, ideas, anything at all is appreciated.
Thanks
Z