Also, most places have some sort of individual retirement account that has tax benefits. It’s a good way to invest and lower your current tax liabilities.
25min to London by train. But I need to get to canary wharf so it ends up being just over a hour. It sucks but I can’t find anything close to the size of my apartment for 1500 that wouldn’t be less than a hour commute anyways inside London.
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Yes, both my parents had those too, but I think TL works freelance.
My mom didn’t get paid much, but when she retired she got like two extra years of working income because of all the vacation and sick time she had. They let everything roll over indefinitely.
I don’t know how old you are but in case you have noticed, real wage has actually gone down over the years. Your parents probably made about 2 dollars an hour as a minimum back in his days but that 2 dollars an hour translates to about 20 dollars an hour. If you have not noticed minimum wage isn’t anywhere near that today, in fact the gap between the rich and the poor has grown. In the old days it wasn’t hard to invest your money because they usually had enough left over to do so. Not so today, as real wages have gone down people have to spend a bigger and bigger percentage of their wages on necessities.
Let’s not count things that have grown geometrically compared to inflation…
Robinhood is commission free, no min, and you can invest in fractional shares.
It’s really not that hard. Do something that other people don’t or won’t do, that is unpleasant; these jobs tend to pay half decently. And I mean that to the utmost, jobs that pay well, but don’t require education due to their “unpleasantness”- work as a morgue helper, janitor in a hospital, garbage man, whatever you have to do.
Then, educate yourself. Upgrade to another similar job that other people won’t do, now with needed education; these jobs tend to pay rather well (mortician, police, paramedic, etc.). Live the student level life, while investing the difference. In 10-15 years, you should have a significant amount. Then you have the financial freedom to decide.
Like I said: simple; but not easy by any means.
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Ok… what would an over 50 guy who has an open work permit do to earn a little extra money for investment. Outside of the teaching gig of course. Note, he lives in the middle of nowhere. He’s basically the stay at home dad and can’t commute to the city for a job. At least not now. So he teaches locally.
Hope your kids love you.
Look on Flex Jobs. You can do a lot of things online, especially with a teaching background. There are editing jobs, academic proofreading, etc., all sorts of things really. Your imagination is the limit here. Not that it will pay a ton, but likely enough to put some extra money into investments. Even $300 a month for 15 years at 5% return is something; $80K or so. Better than nothing, but I hope at that age you have some savings or alternative retirement plans (family with real estate?).