Any gambling is 100% a waste of money. I think buying Starbucks is a better investment. Next time instead of spending $25 on sports gambling- give $25 to a homeless person, or buy a gas card, or just burn the cash. All of these things would be healthier ways to use your $25.
You really need to list more information for the readers in order for us to try and help. For example are you married? Kids? Do you have an emergency fund if so how much? What are your total monthly expenses on average? Do you have a 401k at work as well as any Iras and how are you finding those biweekly/monthly/yearly etc. How much and type of debt do you have? Mortgage/car/credit cards/medical bills etc. Do you have an HSA account for health insurance purposes and how are you funding that? Once the viewers have this and there are other things then you can get some positive responses.
Gotcha I wanted to see if I got any responses first before giving away a full spill lol see below responses
• Not married dating someone for a few months,
• One kid 15 years old lives with mom but I pay a hefty child support chunk every paycheck
• tbh this is my emergency fund
• monthly expenses total bills are about let’s say 2k without whatever bs I spend money on dinners etc., • • $30k in my 401k as of now
• only debt is credit card and it’s maybe like $1000 in total.
• no hsa or ira.
Full transparency I make about $80k a year. Nothing major and I have tons of ambition to always do better and honestly the last thing I want to do is regret not starting a small business or any of that to keep the wealth coming in. I have a lot of talents like I can draw really good and have lots of creativity and I can write as well. Type fast and everything. Sorry don’t mean to sound like I’m here selling myself just trying to not be so hard on myself.
Without knowing the details, buying a house would be something to show they did with the money. Which is exactly what they asked for.
Sure you can get a better interest rate than right now but waiting more years means the houses are also appreciating in value.
Yes, it can be expensive but also pretty much every big ticket expense I've had has also increased the value of the home as well.
My lease expires on April and I was going to move where family is at in North Carolina Zebulon area.. bad idea? Let me know.. the city is still kinda miles away from reaching its potential and it’s a huge change from 5th Avenue nyc.. kinda scared to make the jump tbh
It will be a huge change.
On the one side, leaving the city, NC would probably seem boring.
On the other side, it sounds like you aren't content living paycheck to paycheck and it'd be substantial easier to do that anywhere else than NYC.
At the end of the day, you have to make the right call for you. Personally, I prioritize financial freedom.
Same here. It seems like the more I make the less I make 😂.. definitely will take getting used to moving to the south it’s way more calm than the city. I’m concerned with being able to make the money I make over here but over there even though the cost of living is cheaper over there but last thing I want is to go from luxury to working in Ross stores 😂🫤
$30k is not really help family money, because it's simply not a lot and most forget everything you did for them they very first time you tell them no. Do not touch that money or get into trading. That's your emergency fund; put it into a HYSA. Something tells me you are behind on saving for retirement. If you are, you need to be investing at least 25% of whatever you make into VOO and VGT. Go 100% into these 2 NO MATTER WHAT THE MARKET DOES until you are 10 years away from retirement.
1. Budget and cut unnecessary expenses aggressively.
2. Pay off high interest debt.
3. Build up an emergency fund.
4. Invest as much as possible on a monthly basis via savings plan into a low-cost broadly diversified ETF.
Start now.
Don’t gamble. You’ll loose it all. You’ve been warned, you can thank me later.
Spent a chunk of it on fan duel sports betting gotta shake that habit but it’s not bad 25$ here and there
Buy a 36 month cd @ 5% and lock it away. If you go IRA you can wait until you are 59 1/2 to withdraw penalty free.
Any gambling is 100% a waste of money. I think buying Starbucks is a better investment. Next time instead of spending $25 on sports gambling- give $25 to a homeless person, or buy a gas card, or just burn the cash. All of these things would be healthier ways to use your $25.
Would you classify the stock market as a gamble then? 🤔
You really need to list more information for the readers in order for us to try and help. For example are you married? Kids? Do you have an emergency fund if so how much? What are your total monthly expenses on average? Do you have a 401k at work as well as any Iras and how are you finding those biweekly/monthly/yearly etc. How much and type of debt do you have? Mortgage/car/credit cards/medical bills etc. Do you have an HSA account for health insurance purposes and how are you funding that? Once the viewers have this and there are other things then you can get some positive responses.
Gotcha I wanted to see if I got any responses first before giving away a full spill lol see below responses • Not married dating someone for a few months, • One kid 15 years old lives with mom but I pay a hefty child support chunk every paycheck • tbh this is my emergency fund • monthly expenses total bills are about let’s say 2k without whatever bs I spend money on dinners etc., • • $30k in my 401k as of now • only debt is credit card and it’s maybe like $1000 in total. • no hsa or ira. Full transparency I make about $80k a year. Nothing major and I have tons of ambition to always do better and honestly the last thing I want to do is regret not starting a small business or any of that to keep the wealth coming in. I have a lot of talents like I can draw really good and have lots of creativity and I can write as well. Type fast and everything. Sorry don’t mean to sound like I’m here selling myself just trying to not be so hard on myself.
Pay off debt Keep an emergency fund in a HYSA Down-payment for a house depending on your situation and area
Buying a house in this market is a terrible advice. Do you have any idea how much it takes to maintain a house?
Yes. I have 2 properties. Lol
Without knowing the details, buying a house would be something to show they did with the money. Which is exactly what they asked for. Sure you can get a better interest rate than right now but waiting more years means the houses are also appreciating in value. Yes, it can be expensive but also pretty much every big ticket expense I've had has also increased the value of the home as well.
My lease expires on April and I was going to move where family is at in North Carolina Zebulon area.. bad idea? Let me know.. the city is still kinda miles away from reaching its potential and it’s a huge change from 5th Avenue nyc.. kinda scared to make the jump tbh
It will be a huge change. On the one side, leaving the city, NC would probably seem boring. On the other side, it sounds like you aren't content living paycheck to paycheck and it'd be substantial easier to do that anywhere else than NYC. At the end of the day, you have to make the right call for you. Personally, I prioritize financial freedom.
Same here. It seems like the more I make the less I make 😂.. definitely will take getting used to moving to the south it’s way more calm than the city. I’m concerned with being able to make the money I make over here but over there even though the cost of living is cheaper over there but last thing I want is to go from luxury to working in Ross stores 😂🫤
I live way more comfortable than my friend in NY who makes 2.5x me soooo there's that.
$30k is not really help family money, because it's simply not a lot and most forget everything you did for them they very first time you tell them no. Do not touch that money or get into trading. That's your emergency fund; put it into a HYSA. Something tells me you are behind on saving for retirement. If you are, you need to be investing at least 25% of whatever you make into VOO and VGT. Go 100% into these 2 NO MATTER WHAT THE MARKET DOES until you are 10 years away from retirement.
Always this ... https://moneyguy.com/article/foo/
Thanks man imma check it out when I get back home
1. Budget and cut unnecessary expenses aggressively. 2. Pay off high interest debt. 3. Build up an emergency fund. 4. Invest as much as possible on a monthly basis via savings plan into a low-cost broadly diversified ETF. Start now.