Topic: What are your plans for the next 5 years in Finance? - page 24. (Read 2976 times)

in the next 5 years, I want to have my own Food business or a convenience store. I don't want to be an employee for the rest of my life. I want to have a freedom while earning at the same time. I will also breed Dogs and continue my photography Business.

Raising your own capital for you to earn profit that will be used for your own business is a very good idea, those people today who want to have a stable income is just starting their own business.

I plan to keep my regular job and even find a better one. I have never thought about leaving job and to live just from Bitcoin because I don't think this is actualy possible on long term, except for just a small number of people.
So besides the proper job I count also on income from Bitcoin so in five years I would like to have some decent amount of Bitcoins stored in my wallet as a back up. But I'm not planing only to hold them but to actively use them.

Well, since you're seeking advise then I'd give it butbtake it with a grain of salt. Investments are always good so that's one passive income, renting out a house or an apartment is another although the initial capital is quite large. Being a financier in a business is also good. Lastly, whatevdr business you will go into, make sure you actually studied it first.

I am planning to start my ow business in order to have a passive income monthly which is not require to always wait for the profit in trading, cryptocurrency is very helpful if you are just starting in life.

and if you really want to have "Passive Income" then you need to build your portfolio from now and invest in many coins so you can see that in the future, your investment will a good return and you can reach "Passive Income" that you want. in my old age, I am working as the blogger and I can earn much money from google adsense but after Google makes an update for their robot and their algorithm, then it will difficult to earn a big money. so I decided to try with cryptocurrency and right now, I can make some money and I want to have "Passive Income" that you want.

My plans are very simple i am working my freelance software engineer so i get lot of free time, in that i work for crypto and saving in the wallet for future as i know that in coming 5 yrs the returns will be good enough that another 30 yrs i can leave freely without worrying for financial help.

maybe I would choose a safe investment like future savings or use my salary a bit to invest in crypto. all investments are good depending on the smart one chooses an investment as needed.

The good business for this year is the food sector. every day food takes everyone and it will continue forever. so I think it takes a small capital to do business in food. you just need to find the distributor of food to get cheaper price.

Pursue your plan and be consistent with what you are thinking 5 years from now. Once you made profit from your bitcoin/ethereum investment, don't stop on investing or diversifying it in real life investments like real estates.

We all want to have an easy going life where we can enjoy living but at the same time have some passive income and have financial freedom.

It may be none of my business, but you should really save up. Especially since you have kids. Don't wait for 5 years before you become financially free. In fact, you're already supposed to be financially free. Financial freedom means not having to rely or depend on someone for your daily expenses i.e. relying on the money/allowance given by your parents. This does not mean that you don't have any expenses or financial obligations (like the education of your kids), which I highly doubt will happen within the next 5 years. So unless you still rely on your parents despite already having kids of your own, then you should be financially free.

Same for me. More and more passive income.
I love a saying from Warren Buffet "If you don't find a way to make money while you sleep, you will work until you die."

I am only 19 years old and I have not planned to start a business yet. I just put out the annual plan and want to achieve the target. In 4 years of college, I will try to make $ 20k more comfortable in life. Then I would work and save more to buy a house.

My plan for the next five years is to have a financial freedom and have savings regularly. I do not savings for now since I have many kids to support with and my parents are with me. I want to support first the education of my kids so maybe after five years I can have financial freedom and I want also to have a stable business that can cope also the other needs of my family.

Its cool. I used to work in the construction industry. I have some experience there. You're right. There are a lot of people who heard about "flipping houses" from a tv show on the discovery channel who have no experience and easily get in over their heads attempting to develop real estate via overestimating how productive they will be and underestimating how much things will cost--their liabilities. Regulation can oppose the construction of new homes in ways. An example of this is california which recently made it illegal to build a house, unless it is fully outfitted with solar panels.

Most people aren't aware that there are kits to build a house which are available @ severely discounted price in comparison to what is available on markets. There definitely are opportunities. Its not and never will be a get rich quick scheme. But for those who are willing to put in the time and effort it could be profitable and worthwhile over the long term. Similar to crypto it could be a good HODL strategy.

Branching out and diversifying away from crypto could be a good practice. I like DRIPs as a long term investment strategy. It won't do much over the short term. It might not even grow funds @ a faster rate than inflation. But at least there are recorded instances of people retiring using it as an investment strategy. The compounding interest could be worth pursuing. Especially if its accompanied by an appreciation in the value of the stock.

i want to attain financially freedom five years from now, in order to achieve this, i am planning to build a business empire from my proceeds from crypto, i plan to go into real estate and offcourse, i will continue to invest in crypto currencies. a cryptomaniac.

that's good plan for you especially.while we can earn money from crypto just do it  without any doubt.we will able to collect money that used to build our business empire as you said before.

i want to be financially free five years from now, in order to achieve this, i am planning to build a business empire from my proceeds from crypto as an ulternative to crypto, i plan to go into real estate and offcourse, i will forever continue to reinvest in crypto currencies.

it is recommended to plan your finances especially in investing, if you are to plan, better make sure it will come to a reality, let say you are planning to invest in a long term investment, make sure those investment will not go to waste after such term, 5 years is a long wait, we can plan for a year if we are talking about cryptocurrencies. because of the volatility of its price, a year is enough to place your investment. my plans are placing additional capital on trading and will be focusing on bitcoin also diversifying my assets to other 2-3 cryptos. will be setting my terms for 6 mos to 1 year. 

if i want to find capital from bounty campaign, and later I use to buy property, and some still invest in cryptos. I have to invest in property because this business is definitely profitable, and there are no price fluctuations