I travel often but have always wanted to travel full time for 1 year. I hope to make that happen when we retire in 20 years.
I have $6500 in travel points which equals a little over $5k IF I cash them in. Original plan was to save as many points as possible over 20 years and travel on them when we retire, but the more I learn about investing and purchasing power the more I realize this is a bad plan lol. That said I’m not gaining interest on the
points/money right now which seems silly.
I have a self 401k now with $45k in it, land appraised at $100k and I’ll be investing $30k a year until retirement.
Current investments are Fidelity FXAIX, a blue chip fund, 20 shares of Nvidia bought on the dip and $750 in bitcoin.
I think cashing out and opening an IRA with the money would be smart. I’ll also keeping adding cash from any future travel points over 20 years.
Questions are: 1. Roth or Traditional? 2. Should I do stocks or mutual funds. 2. Suggestions of what fund(s)to purchase over the long term.