Quote (Decarnate @ Jun 13 2022 12:04am)

Eliminate all debt

Quote (Toyotas @ 15 Jun 2022 18:21)

wrong. Don't listen to these dudes. People who say this don't know what they're talking about.

Let me fix this for him: Eliminate high interest debt. Carry good debt. i.e. 30 year low interest mortgage. Invest the rest into whatever you like. Whether that be an index fund for 7-10% gains a year, or acquiring real estate assets.

Quote (Toyotas @ Jun 15 2022 07:21pm)

Eliminate high interest debt. Carry good debt. i.e. 30 year low interest mortgage. Invest the rest into whatever you like. Whether that be an index fund for 7-10% gains a year, or acquiring real estate assets.

Quote (CheatEngine @ Jun 16 2022 12:37pm)

not even remotely relevant in a bear market. for 2 years everyone with 1 working finger could slam the buy button and be fine. no more. paying off a 2-3% mortgage is your guaranteed 2-3% when that's not guaranteed in investments, let alone 7-10%

Quote (Toyotas @ Jun 17 2022 08:19am)

7-10% on average. Just because it’s a bear market now doesn’t mean it won’t recover. Don’t let a couple of bad years scare you from a steady, relatively safe and consistent investment. People like you who panic in the bear market are part of the problem.

Quote (JessiWan @ Jun 10 2022 07:54pm)

Hello. I work just like everybody and I have saved up a little bit of money and I know that there will be more.

As we all know, money loses its purchasing power fast, due to inflation. I have looked into various ways to preserve the value of my money, however none of them seems to work for me. Cryptocurrency is out because I have zero idea how it works. Buying gold is troublesome because I would have a hard time storing it in a way that would not cause me to lose sleep at night. Investing in the stock market is out too because I got burned badly before. The only alternative that I see is real estate. Buying a small apartment for myself, or something like that.

However, there are two things that stand in the way. The first and the biggest one is that homeownership clashes with my lifestyle very badly. I am the kind of person that values freedom above all else, and I change my mind, like, A LOT. Who knows, maybe I will fall in love with a guy from New York and will want to move to be with him. Or maybe I feel like moving to another province to pursue education. The thing is, my life is in a constant state of flux, and being tied down by a home is a really bad idea for someone like me. I know that for some people it really works for them, it makes a lot of financial sense, which I totally agree, but it just doesn't work for me. The second issue is that I would have to work for at least 20 years just to pay off the cheapest, smallest apartment in my city. The real estate market where I live is red hot and prices are out of control. And to be honest I am not sure if I want to work for 20 years like that.

Anyway, can someone please decide for me what I should do with my money. I even thought about not working anymore just so that I won't as much money to worry about, lol. Anyway thanks for reading.

Quote (Decarnate @ Jun 13 2022 02:04am)

Eliminate all debt

Quote (NetflixAdaptationWidow @ 19 Jun 2022 14:24)

This is bad advice.

Eliminate debt that has an obscenely high interest rate (>10%). Let the rest ride. In a 10% inflation market there's no reason to pay off a 4% mortgage early.

Quote (Decarnate @ Jun 20 2022 07:31am)

Where did I say to pay it off early?