Hey all,
I'm trying to figure out what to do and was hoping to get some outside opinions. Long story short, I'm graduating college in a month, just accepted a job for 47k a year (and am projected to grow that salary by a good amount within a few years), and have 140k liquid. Right now I'm renting a one-bedroom apartment for $950 a month.
Now, my lease is up in June. My conundrum is this. Do I keep my current apartment and take my liquid cash and put into a growth account. or buy a ~100k home with 20% down and put the rest into a growth account. Or do I buy that same ~100k home but with 100% down and then have the ability to save the majority of my paycheck?
I'm personally leaning towards the 100% down route. My thinking is, in a good account, the 140k will only generate ~14k a year (going up each year). But If I do not have the cost of a mortgage/rent at 21 years old, I can easily save more than than 14k a year as well as have the equity in the home.
Also, I already have ~8 months of expenses in a high-yield savings account and already maxed my Roth for 2018/2019 and have my maxed contributions for 2020/2021 in a high-yield savings account.
What would be y'alls advice?
Submitted April 02, 2019 at 02:09AM by Dastravam https://ift.tt/2WH9h1H
