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- Feb 27, 2015
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Hello Everyone,
I am requesting advice, opinions, thoughts from anyone who wants to share.
I have learned so much from just reading what members have to say in this forum. This place is filled with very smart people and I admit that sometimes I just cannot keep up.
Right now I am really doing my best to improve my mindset and change the way I have been living my life. As with many others, I have a bunch of negative stuff going on in my life that kind of weighs down on me....(constantly at the back of my mind). I explained some of it in my last thread.
Anyway, it's not an excuse...I just want you to know that all that stuff kind of fills up a lot of my mind which in turn affects me thinking up new ideas or even making smart decisions!
Example: I worked very hard for years to save up €40,000. It is now sitting there in my bank....doing nothing and I just cannot think up any ideas of what I should do with it!
Before anyone jumps on me for being foolish enough to just let my savings sit there in the bank...I KNOW...I hate wasting this opportunity to make my savings work for me but I just do not know where to turn!
Some Background: I am living in Spain and I work online self-publishing. I earn enough to support myself but it needs to be scaled up if I want to feel more financially secure. It is an average earning for here in Spain...at best. For USA it would be considered a poor wage.
I am living in a rental apartment - €400/mo which is cheap compared to many other countries and I manage to pay it fine...but of course I hate renting and wouldn't mind a place of my own.
Yes I could put all that savings into a deposit for a home and mortgage but it would clean my bank out, (no security if something happens), and seeing as I don't earn a ton of cash it would take me years again to build that back up again.
I wanted to have enough saved to buy a home cash but 40 thousand is not going to cut it. So the other option could be to invest the money, or use it to scale up my earnings in hope that maybe I could earn enough to maybe purchase a home.
Of course, this isn't just about "feeling secure" with a home and paying a landlord each month. If you read my last thread you will know I have Huntington's Disease looming over me and I am struggling to decide.....now that I have SOME savings.....do I use it to somehow find a way to make that money work for me....or do I play it safe and just get a mortgage for security AND THEN work hard to save again?
I want to enjoy the life that I have now...but I also want some security. If I put some money into finding a way to scale things up with my earnings then yes, that would be great because then I could build my business AND maybe build up enough to even purchase a home. This could take years though.
OR...I just go the safe route...get a mortgage and try hard to save money again. I would have MY roof over my head BUT all my savings would be wiped out in one go buying a home....which is kind of risky.
I am sure there are other things I can do with my savings but there is so much information out there I get overwhelmed. I lost a lot of money in the recent cryptocurrency crash and so I guess I am scared of making the wrong investing move.
I apologize, I know this may read like gibberish...I am not as smart as many members on this forum and so there are many things, in business and money, that I just do not know about.
I don't know what to do, I don't know where to turn. I take care of my dad because he has progressed Huntington's and when I see him lying in that bed, I see me in 10 years.....and it scares me.
I worked so hard to save that money.....to use it wisely....and now that I have it I don't know what to do!
I am requesting advice, opinions, thoughts from anyone who wants to share.
I have learned so much from just reading what members have to say in this forum. This place is filled with very smart people and I admit that sometimes I just cannot keep up.
Right now I am really doing my best to improve my mindset and change the way I have been living my life. As with many others, I have a bunch of negative stuff going on in my life that kind of weighs down on me....(constantly at the back of my mind). I explained some of it in my last thread.
Anyway, it's not an excuse...I just want you to know that all that stuff kind of fills up a lot of my mind which in turn affects me thinking up new ideas or even making smart decisions!
Example: I worked very hard for years to save up €40,000. It is now sitting there in my bank....doing nothing and I just cannot think up any ideas of what I should do with it!
Before anyone jumps on me for being foolish enough to just let my savings sit there in the bank...I KNOW...I hate wasting this opportunity to make my savings work for me but I just do not know where to turn!
Some Background: I am living in Spain and I work online self-publishing. I earn enough to support myself but it needs to be scaled up if I want to feel more financially secure. It is an average earning for here in Spain...at best. For USA it would be considered a poor wage.
I am living in a rental apartment - €400/mo which is cheap compared to many other countries and I manage to pay it fine...but of course I hate renting and wouldn't mind a place of my own.
Yes I could put all that savings into a deposit for a home and mortgage but it would clean my bank out, (no security if something happens), and seeing as I don't earn a ton of cash it would take me years again to build that back up again.
I wanted to have enough saved to buy a home cash but 40 thousand is not going to cut it. So the other option could be to invest the money, or use it to scale up my earnings in hope that maybe I could earn enough to maybe purchase a home.
Of course, this isn't just about "feeling secure" with a home and paying a landlord each month. If you read my last thread you will know I have Huntington's Disease looming over me and I am struggling to decide.....now that I have SOME savings.....do I use it to somehow find a way to make that money work for me....or do I play it safe and just get a mortgage for security AND THEN work hard to save again?
I want to enjoy the life that I have now...but I also want some security. If I put some money into finding a way to scale things up with my earnings then yes, that would be great because then I could build my business AND maybe build up enough to even purchase a home. This could take years though.
OR...I just go the safe route...get a mortgage and try hard to save money again. I would have MY roof over my head BUT all my savings would be wiped out in one go buying a home....which is kind of risky.
I am sure there are other things I can do with my savings but there is so much information out there I get overwhelmed. I lost a lot of money in the recent cryptocurrency crash and so I guess I am scared of making the wrong investing move.
I apologize, I know this may read like gibberish...I am not as smart as many members on this forum and so there are many things, in business and money, that I just do not know about.
I don't know what to do, I don't know where to turn. I take care of my dad because he has progressed Huntington's and when I see him lying in that bed, I see me in 10 years.....and it scares me.
I worked so hard to save that money.....to use it wisely....and now that I have it I don't know what to do!
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