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Topic	Invest in stocks, or try to get a condo?
Zachnorn 03/29/21 2:02:53 PM #25:	banananor posted... If you don't have any friction with your mom, I'd probably stay. Aromance is a financial blessing. While we are still close, there's been some friction lately because I've also been spending time hanging out with my online friends and because we don't see eye-to-eye on things like housing. We've had a few arguments about leaving this house. I've also gotten annoyed about certain statements regarding my life such as "apparently the car insurance would have been cheaper if you got a degree in information technology instead of business." But overall, we have a good relationship. banananor posted... Make sure to factor in condo maintenance fees, property repair costs, and other bullshit when doing the math. i have friends with condos and those things add up to another set of rent. Good to know. Some of these HOA fees are ridiculous. $600/month for JUST the HOA, not even mortgage or taxes? I might as well rent. banananor posted... $1300 per year is a reasonable property tax rate. The 7% annual increase is bullshit though, so you will have to move eventually. $1,300 per month, unfortunately. If it were per year, I'd have no problem with it. swirIdude posted... Does your job offer a 401k or similar investment plan? I have a pension that does investments. I have an option for a 403b and 457b with no match so I'm not sure why I'd do it except for minor tax benefits, especially since I have both a pension and Social Security. I have a few brokerage accounts. I'm considering opening an IRA. swirIdude posted... $450 for rent is amazing, especially in Los Angeles. Stay there as long as you can, unless it becomes too unbearable to live there. You can take advantage of all the money you're saving to pump up your retirement and investments. One thing I'm thinking of is putting my money into this TD Ameritrade account (or maybe another account if I ever decide to play with margin) and have it earn money. Then cash out as needed for big purchases, like when I do decide to buy a home. ZeldaTPLink posted... Man, I'll never get used to hearing about Americans charging rent from their children. It's just too alien for me. Where I live people stay with their families because they like their families, not because it makes them money. We used to be financially codependent. If I weren't paying rent, she wouldn't have been able to make the rent payment. But this changed recently because she got Social Security income coming in, which is way more than the $450 I pay. red sox 777 posted... I would not invest in property in California at this time. If it becomes less affordable in a year or two because the interest rates go up, that is going to affect everyone else too - and that tends to put downward pressure on the price. So you'd have a low interest rate locked in, but if you want to leave the area, you might not turn a profit on the sale. I didn't really consider that part, thanks for bringing that to my attention. --- <D <cite>Zachnorn posted [p:952244961] in Invest in ... [t:79375157]...</cite> <quote> banananor posted... </cite> <quote>If you don't have any friction with your mom, I'd probably stay. Aromance is a financial blessing.</quote>While we are still close, there's been some friction lately because I've also been spending time hanging out with my online friends and because we don't see eye-to-eye on things like housing. We've had a few arguments about leaving this house. I've also gotten annoyed about certain statements regarding my life such as "apparently the car insurance would have been cheaper if you got a degree in information technology instead of business." But overall, we have a good relationship. banananor posted... </cite> <quote>Make sure to factor in condo maintenance fees, property repair costs, and other bullshit when doing the math. i have friends with condos and those things add up to another set of rent.</quote>Good to know. Some of these HOA fees are ridiculous. $600/month for JUST the HOA, not even mortgage or taxes? I might as well rent. banananor posted... </cite> <quote>$1300 per year is a reasonable property tax rate. The 7% annual increase is bullshit though, so you will have to move eventually.</quote>$1,300 per month, unfortunately. If it were per year, I'd have no problem with it. swirIdude posted... </cite> <quote>Does your job offer a 401k or similar investment plan?</quote>I have a pension that does investments. I have an option for a 403b and 457b with no match so I'm not sure why I'd do it except for minor tax benefits, especially since I have both a pension and Social Security. I have a few brokerage accounts. I'm considering opening an IRA. swirIdude posted... </cite> <quote>$450 for rent is amazing, especially in Los Angeles. Stay there as long as you can, unless it becomes too unbearable to live there. You can take advantage of all the money you're saving to pump up your retirement and investments.</quote>One thing I'm thinking of is putting my money into this TD Ameritrade account (or maybe another account if I ever decide to play with margin) and have it earn money. Then cash out as needed for big purchases, like when I do decide to buy a home. ZeldaTPLink posted... </cite> <quote>Man, I'll never get used to hearing about Americans charging rent from their children. It's just too alien for me. Where I live people stay with their families because they like their families, not because it makes them money.</quote>We used to be financially codependent. If I weren't paying rent, she wouldn't have been able to make the rent payment. But this changed recently because she got Social Security income coming in, which is way more than the $450 I pay. red sox 777 posted... </cite> <quote>I would not invest in property in California at this time. If it becomes less affordable in a year or two because the interest rates go up, that is going to affect everyone else too - and that tends to put downward pressure on the price. So you'd have a low interest rate locked in, but if you want to leave the area, you might not turn a profit on the sale.</quote>I didn't really consider that part, thanks for bringing that to my attention. --- <D</quote> ... Copied to Clipboard!
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