In all honesty, you are the only one who can truly answer that question.
And you can find the answer after doing more research and projections while considering the future risk vs reward, how long it will take, what sacrifices you are willing to make, and whether it will suit your personalities and lifestyles.
To be good and sucessful at something, it helps to have a passion for it.
You can become passionate about new things and experiences.
Or you may try new things and like it at first, but hate it later.
ive been looking at the jan somers books to buy, which one would you suggest i start with?
Paid 50k in taxes before I started investing. Fcuking taxman!!
in short, at 24, i have saved up about $250K, and i am not on a good salary.
i lost about 6% within 2 weeks of the funds being transferred.
i also feel that property is so expensive.
everything just looked, well, shit.
That's incredible - how much have you been putting aside each week?
Warren Buffett says if you aren't prepared to see your funds drop by 50% you shouldn't be in stocks; and you should be in for a MINIMUM of 10 years.
It won't get any cheaper....
$250k is a 20% deposit on a $1.25m property, but your limitation is probably income.
Have you been to the bank to ask how much they would lend you?
It won't get any cheaper....
very interesting thread, and you guys have motivated me to pursue this further.
in short, at 24, i have saved up about $250K, and i am not on a good salary. this is purely throuhg saving, putting my money in high interest accounts etc. i have a very strong maths background and can see this being something that would appeal to me.
early last year, i saw a financial advisor who recommended i put my money in managed funds. i lost about 6% within 2 weeks of the funds being transferred. i have since gone back in the black by investing some more when the funds were down.
i feel this is a waste of time, but i also feel that property is so expensive. i was for a house to live in around feb 2009, but everything just looked, well, shit.
i think i might sign up to that somersoft forum, might see some of you around there!
Out of curiousity, what degree do you do? Quant risk/actuarial or something?
pistachio my mate is an actuary. He earns 200k a year for price water house coopers (PWC) and does audits for mega large companies. He didnt even top his uni classes
my $50 says it will
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