ADULT GOALZ (HALP)
Maybe writing down my options will help me decide what to do. Or maybe you lovely people have advice 😊
- •I want to purchase a vacation home.In Lake Tahoe 🌅
- •Why?I Fucking Love Lake Tahoe. It will be the family cabin. Where I can watch my nieces and nephews play in the snow and the lake, and hopefully grow up loving this place as much as I do. Maybe my own kids too someday. Maybe it will be where I retire, who knows?
- •I'm targeting a home priced at around $250k - $300kWith a mortgage at around $1200 - $1500 per month, depending on my down payment. Prices in the outskirts of Lake Tahoe are pretty chill and still more affordable than the SF Bay Area.
- •I'd rent it out when I'm not there so it can pay for itself.Mortgage + extra that I would either use to supplement my own income, or reinvest into the house for upgrades and what not.
- •I'm on track to having a sizable down payment within the next two - three years.but I have this dilemma coming up that might slow me down in my early savings.
- •I have this leased car that I need to return or buy pretty soon.I don't really want to purchase it.
- •Purchase current carLong term debt. It's a nice car and pretty new, but it's a 12k car. I'd have to finance it if I don't put a bunch of cash down + monthly payment.
- •Pay cash for a cheaper carNo debt/monthly payment. By cheaper, maybe like $4-6k. Which means I can contribute more into my savings. But that requires a large chunk of my savings that I'd have to build up again. Plus pay any repairs I may have to make on the car.
- •Turn in lease and not have a car for a whileI would have no debt, no monthly payemt, no insurance to pay... Could be about $500 more, straight to my savings per month. But I wouldn't have a car. I live in the burbs, so it's not that easy to give up but I can walk or bike to my train station to get to work.
- •Basically, I don't want to slow down my savings when I have so much momentum right now and this could be an opportunity to put even more away for a bit.
- •Kinda leaning towards no car.It's the "craziest" option and I've been on this new them in my life where I contradict what Jon would normally do.
- •It could be liberating.But also highly inconvenient.