Hi, I'm 26, dropped out of university when I was about 20 for a multitude of reasons (mostly lack of direction and lack of financial support), and ever since I've been working pretty shitty jobs for pretty shitty pay. I ended up getting very lucky over the past year. I started investing in cryptocurrencies about a year ago, and since then they have blown up. Now I have about $50,000 more in my bank account, and I'm trying to figure out what to do with it... I still have about $10,000 in cryptocurrency also. Overall, I live a very frugal lifestyle (until now, out of necessity.) My car is 9 years old and paid off, I don't go out much or take expensive vacations, and generally don't buy stuff unless I really need it.
I live in a mid-sized midwestern city, where housing prices are still relatively cheap compared to the rest of the nation (you can buy a nice house for $150-200k, a decent house for 100-150k still.) Meanwhile, rent keeps increasing by quite a lot each year in my city (currently paying 760 a month for a one bedroom apartment.)
So I'm trying to think of the best ways to spend this money. I would like to go back to school so I can get a degree and earn a better living wage, but doing this would probably use up most of my funds. Not many scholarship opportunites for adult students, and I would have to work part time for about 2-3 years. I could always take out some student loans, but I'm hesitant after spending the last 6 years of my life working to get rid of the ones I had from dropping out of college the first time...
I'm also considering buying a house. I could put up a significant down payment, and then I'd be paying about half as much per month on a mortgage as I am on rent while building equity.
And then a third option I'm considering is just putting most of it in a retirement portfolio, and letting it sit until I'm old.
Best option?
Submitted October 07, 2017 at 05:11PM by RefugeeDormin http://ift.tt/2g0A5KQ
