Fastest path to financial freedom?
Hey BP I have a scenario to throw at you and I’d love to hear your thoughts.
I have a friend in her late 40’s who has started focusing on preparing for retirement. With around 100k in a 401k and 75k in cash she is wondering what would be the best way to get to $5k a month in passive income/cash flow. She makes $250k a year, but enjoys spending money at the same time. She told me she would be able to save 100k a year of her income to put into either retirement accounts, or invest in real estate.
My question for you guys: What would you suggest she invest her money into to be able to produce $5k+ a month in 7-10 years? She does not need cash flow now, so would it be wise to put otherwise cash flowing rentals on short terms to pay them off quicker? Would throwing all her money into a fund be able to get her to the 5k a month with only $600,000ish total invested after 5 years? What are your thoughts?
Thanks!