Tax Sell Physical Gold What Do You Think About This $250k Investment Plan?
What do you think about this $250k investment plan? - tax sell physical gold
I am in Toronto. I struggled for some time. This is the love of money to my parents, I feel very depressed when I realize that I can spend more than I do.
Right Now it's $ 200K gold in physical form, and 50 thousand dollars in cash. My family has 0 tolerance for risk. I work for the sale and a base salary of only $ 25K, while the rest of the Commission. My salary after taxes is $ 1650 per month.
I have a savings cushion is when someone gets sick or loses a job. So I want to buy a house for $ 200k and a Gold Medal Mortgage 1000k per month, as security to gain power. Spend $ 20k to repair. Take a good shower, large windows, insulation. The most important thing is that the construction is solid and not supported by wooden beams. From $ 30k in shares is to be elected in May during a decade, to be invested.
Even if the breath or flat that you will be my future wife to be very little investment, because it is a 25-year mortgage and I paid $ 1000 in rent anyway.
Finally, I wIll be invested in real estate, gold shares. Even if the apocalypse comes, I can easily support sale of assets to the other. Or take the gold and hiding in Mexico. My goal is to wait for the recession and a bank account from 30 to 7 digits. Now I'm 25th
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2 comments:
If I understand correctly, you are now 200 thousand U.S. dollars in gold, U.S. $ 50 thousand in cash. You want to keep the gold? Expenditure of $ 20K in the apartment, which is financed by a mortgage.
So the 200 billion U.S. dollars in gold and $ 30K is left to invest in stocks. Assuming your earnings to pay your costs, you want to grow your 200 thousand U.S. dollars in gold and $ 30K in shares of $ 1,000,000 in 5 years? You need a return of 400% on gold and equities. It is highly unlikely.
Sorry.
Ignore their enormous cash reserves for a while. Even with a safety net, the amount of $ 1,000 per month is too much of their salary. You will not be long in the pocket for the utilities, food and expenses. You can become accustomed to living with very little, but should not have to live with little or drawing on savings. You need to show for their hard work, would be a nice apartment, let alone lifestyle and no new investment of additional income.
Think more modest, up to their work and investments are beginning to bear fruit. Mortgage lending guidelines, your payment should be no more than 28% of their gross salary, which probably means that a loan of about $ 100,000 for you.
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