/biz/ - Business & Finance

[Anonymous No.55586068]

i have $60k saved up. i need another $140k until i "make it" and have enough money to buy a shitty house with cash in my flyover hometown. after all expenses, i save about $25k a year. i should invest some of this money rather than dumping it in a HYSA but i'm too afraid of being jewed by a recession. this is torture.

[Anonymous No.55586097]

Sounds like you're doing very well.

[Anonymous No.55586113]

>>55586068
Balance your money, part savings part investment part debt payoff (or acquirement like a mortgage).

[Anonymous No.55586127]

>>55586068
Read this book - It's the red pill for money. The only borrowing Dave approves of is a 15 year fixed rate mortgage.

[Anonymous No.55586161]

>>55586068
Great job on saving $25k/yr. I am saving $10k/yr myself. I would buy the house so that you can have a physical asset and a place to call home. You can rent it out and collect passive income. You already kind of made it, don't squander your cash on risky investments. I am doing the same.

[Anonymous No.55586170]

>>55586113
>amerimutt golem can’t imagine life without a debt

[Anonymous No.55586179]

>>55586127
why?

[Anonymous No.55586207]

>>55586179
i think it's bad advice. if you do have to take out a mortgage, it's more sensible to do a 30 year loan and double up on payments. you suffer a higher rate but the added flexibility is worth it. chances are that you'll have at least one financial hiccup over a 15 year period, and you can always drop down to single rather than double payments.

[Anonymous No.55586211]

>>55586161
If I do my courier job, I could possibly save $50k/yr. It's not really a dangerous job, I can do it.

[Anonymous No.55586264]

>>55586211
What if I just saved $100k and quit? It could take me a year.

[Anonymous No.55586266]

>>55586264
>>55586211
Why not save 1 million and quit? Sometimes it's that easy

[Anonymous No.55586276]

>>55586264
How about an associate's in accounting?