I am at a crossroad in my mid 20s of what I should do, I'd be very appreciative for some advice
Hello everyone! Please read the entire thing as there's a few stages to my investing questions here, one about livelihood and one about my future.
I'll start this off with my background. I am in my early-mid 20s and am focused on being a little more financially free. I have seen many friends and family grow old, without enjoying the great things that the world has to offer, like traveling or spending time with friends and family. As of now, I have a 20k portfolio, and an irresponsible collection of vehicles and other toys such as a motorcycle, dirtbike, another car… totaling about 40k, maybe 45 if I held out on things for a longer sale. I have a safety net of 3 months income, and I have a truck (not included in the previous assessment of 40k) with a loan of 16,000 remaining at 7% interest. Trucks book value is around 25k. So a total of 50k of vehicles conservatively inclusive of the debt, 0 credit card debt or other loans.
My income is around 50k a year, as I have backed off from working the 60 hour weeks in the auto industry to pursue something around 45 hours a week in sales, and about 10 hours a week doing social media (which I also did in the auto industry). It's a bit more relaxed and I only drive 7 hours a week compared to 10.
Social media is a slow growing path, but it has doubled every year for the last 4 years and I am on track for near 2000$ this year in income, so I plan to keep growing that as well (automotive project related social media, which can operate independently from the corvette that I am considering selling) Social media is my passion and in a perfect world I would continue to grow that to a livable income. I do make a small amount off of the projects I do for social media, but the social media revenue earns more than the projects.
Stage 1 of my question is in regards to my livelihood-
Here are my current options:
Option A: Sell my paid off corvette, worth 24-26,000$. Pay off my daily driver truck, invest the rest in a dividend paying fund such as QQQI to generate monthly income, and leave myself in a more comfortable considering I am 500\~ a month lighter on my expense of a payment, 100\~ lighter on insurance, and around 80-100 a month richer depending on what dividend vehicle I choose.
Option B: Sell the corvette, split my money ⅓ HYSA, ⅓ income vehicle and ⅓ to partially pay off the truck. I’m 100\~ lighter on insurance, same truck payment with reduced term and have some savings and monthly income. My Bias against this option is I am left with a stable 3\~% income off the 8\~k, but I am paying 7 to a different debt, almost sounds contradictory in my eyes.
Option C: Keep the car, liquidate a couple other toys valuing near the payoff of the truck and use them to pay the truck down. My bias against this option is that I am not losing an insurance payment, and I may or may not be able to pay the truck off without selling all other toys besides the enthusiast vehicle.
I am also open to considering other options. I should also note my current situation has me at about 2600$ a month in expenses, and freeing 500-600 is 20+% difference and will make a huge difference in my eyes, although the corvette was a dream car since I was young and I did build a majority of the car myself to a tasteful spec. I can afford to keep everything and go on as I am now, but I would love to get engaged this year and feel more comfortable doing so while still having some of my fun/weekend toys.
Second stage of my investing question is this-
I have allocated an additional 60/weekly divided into VOO/QQQM and a little SCHD for my retirement, this is building the 20k portfolio I currently have, partially in a roth, partially in an individual brokerage. I have a small amount of physical gold and silver for diversity. Are there any tweaks I should be making to this? I plan to go back to 100/weekly as my income grows in this sales job, or in a perfect world I move into social media 5+ years down the road.