I'm a 30-year-old female from Australia, now living in Los Angeles. I've been in LA for two years. I have a Masters degree and a job in a thriving industry. I generally enjoy living in this city, and my life day-to-day, but for the last year money has started to rule my life. I can't seem to think about anything else but investing and choosing the best way to grow it. I don’t know what I want to do with it, and that might be part of the problem. I’m constantly worried about missing out on opportunities. It feels horrible that money is top of mind, but I don’t know how to stop thinking about it.
When I was 19, my father passed away and I inherited $280,000 AUD. I got a mortgage and bought an apartment for $350,000 AUD. At 28, I moved to the USA after winning Permanent Residency in the Green Card Lottery. I sold my apartment for $420,000 AUD. I had originally intended to move the money to the US and buy a place to live as soon as I could. However, at the time the Aussie Dollar was doing poorly, and I had been told by the banks I needed to have a credit score for 2 years before getting a mortgage here. Therefore, I left the money in Australia earning 3% interest while I worked on building a credit score from nothing.
Recently, the Aussie Dollar his a 2 year high, and I transferred over about $300,000 AUD to the USA. With the favorable exchange rate and the additional money I’ve saved from working, this is where everything currently is:
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$240,000 AUD remaining in Australia (earning 2% interest)
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$30,000 AUD in Australian retirement account
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$140,000 USD in Stash Invest App (received a 4.5% return in 3 months)
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$85,000 USD in Betterment (received a 2.6% return in 3 months)
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$50,000 USD in the bank (virtually no interest)
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$5,000 USD in stocks using the Robinhood App (using this month to gamble on day trading)
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$550 USD in a ROTH IRA through Stash Retire. I don’t necessarily plan to retire in the US, so I’m hesitant to max out retirement options here.
My current income sources include:
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$95,000 USD per annum salary (increasing to $110,000 next month)
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$5,000 AUD per annum interest from Australian bank
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$7,0000 USD per annum from renting out a second car
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$8,000 USD per annum from a small online business
I have no debt:
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My modest and fuel-efficient car was paid for in cash.
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All credit cards are paid in full each month.
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Australian student loan was paid off last year.
I live pretty cheaply for Los Angeles:
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$650 per month rent in a nice neighborhood in Los Angeles (sharing a 3-bedroom rent controlled apartment with a friend and subletting the 3rd bedroom)
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$50 per month utilities
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$100 per month fresh produce delivery service
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$40 per month pre-paid phone service
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As much as I like on food, entertainment and travel — which is really never that much, I don’t overdo anything and I really hate being wasteful.
My current lifestyle:
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Single
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No dependents
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Work Mon to Fri, normal hours, no overtime
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Travel as often as possible. Just spent 2 weeks traveling, and will be gone another 10 days over Thanksgiving, then home for 3 weeks at Christmas. Also doing two additional weekends away before the end of the year.
Things that are making me unhappy at the moment:
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Not being able to make a home out of my apartment because the people I share with aren’t on the same page as me when it comes to keeping things clean and living like adults. Even though I rented out my second room back home in Australia, it was my apartment and my housemates respected that. I don’t want to move while I’m still renting because the deal I have is very good.
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Working a job which isn’t always fulfilling. I have an entrepreneurial streak in me (but can’t settle on one idea). I don’t think I’ll ever be fulfilled through work unless I’m working for myself. I’m great at starting things but I know I do lack enthusiasm when things get boring.
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Worrying about being too old to start a family when/if I finally meet someone I can stick with.
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Feeling like my life is being wasted at work, when I’ve got the means to do so much more while I’m still young.
I felt relief when I sold my apartment back home in Australia, that I no longer had to worry about maintenance and pay Home Owners fees, taxes, etc. I was free, but it was only a temporary feeling. I do want to buy a place to live in Los Angeles soon, but it’s so expensive here that I’ve been looking at purchasing a duplex or triplex to help cover the mortgage. I know this will be a lot of work, so I’ve found it hard to commit to anything.
My question is: for those who are comfortable, do you think about money constantly like me? And if you could switch things up for me, what would you change and how?
Submitted October 10, 2017 at 05:46AM by investUSAandAU http://ift.tt/2yCJwrc
