I would be very thankful to get some further perspectives on this - my company has grown exponentially. 2017 - $30,000 profit. 2018 - $150,000 profit. 2019- $200,000+ estimated.
My Money Discipline Problem
I made a post recently about how I can NOT seem to trust myself with my profits, last year I spent my $80,000 salary on seemingly nothing, so my idea is: if I invest into something large I will have no choice but to live within my means.
My Fix
I have approximately $140k right now set aside with no outstanding debts. My thought is - I should just buy a townhouse or condo, as the market is so RIDICULOUSLY great in my city. Properties are selling for 33% below what they will be in a few years. I have been renting for the last two years because I was starting a business, throwing away $45k in rent. I've told myself I won't buy my dream home until I can pay cash, which seems a few years away still.
This seems like a good short term investment strategy? Especially considering I can sell it for profit, rent, and it's also important to me to have a place for my parents possibly long term as neither have planned for retirement.
Am I missing anything?
My Money Discipline Problem
I made a post recently about how I can NOT seem to trust myself with my profits, last year I spent my $80,000 salary on seemingly nothing, so my idea is: if I invest into something large I will have no choice but to live within my means.
My Fix
I have approximately $140k right now set aside with no outstanding debts. My thought is - I should just buy a townhouse or condo, as the market is so RIDICULOUSLY great in my city. Properties are selling for 33% below what they will be in a few years. I have been renting for the last two years because I was starting a business, throwing away $45k in rent. I've told myself I won't buy my dream home until I can pay cash, which seems a few years away still.
This seems like a good short term investment strategy? Especially considering I can sell it for profit, rent, and it's also important to me to have a place for my parents possibly long term as neither have planned for retirement.
Am I missing anything?
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