mulberry
CURRENT SITUATION:
Age: 40
Expected Age: 90
Savings: $300K @bank, $30K @401K, both earning 3.5% APR
Debt: none
Expected yearly savings: $25K/yr (after taxes/expenses)
Current Housing: $15K/year in rent + utilities
Personality: live simple life, enjoy family, travel, learning. Good at saving. Insecure about investing bordering risk-averse
MY GOALS:
I’d like to the following and expect average costs of:
1. $4k/yr for 50 years, Travel/Vacation (MUST HAVE)
2. Buy $200k house to live in + $5k tax/maint costs, (MUST HAVE)
3. $10k/yr for 4 years, get a university degree overseas (nice to have)
4. $12k/yr for 25 years, Adopt/raise a child (nice to have)
QUESTIONS:
1. How can I achieve my goals in a financial savvy fashion?
2. should I pay cash for the house or get a loan? Would like to do what makes good financial sense.
3. What Investment options to consider:
a) real estate – buy property and/or get a tenant
b) invest in stock/funds/etf? So far, I haven’t been good at this .
c) Other optiuons?
Thanks!
Age: 40
Expected Age: 90
Savings: $300K @bank, $30K @401K, both earning 3.5% APR
Debt: none
Expected yearly savings: $25K/yr (after taxes/expenses)
Current Housing: $15K/year in rent + utilities
Personality: live simple life, enjoy family, travel, learning. Good at saving. Insecure about investing bordering risk-averse
MY GOALS:
I’d like to the following and expect average costs of:
1. $4k/yr for 50 years, Travel/Vacation (MUST HAVE)
2. Buy $200k house to live in + $5k tax/maint costs, (MUST HAVE)
3. $10k/yr for 4 years, get a university degree overseas (nice to have)
4. $12k/yr for 25 years, Adopt/raise a child (nice to have)
QUESTIONS:
1. How can I achieve my goals in a financial savvy fashion?
2. should I pay cash for the house or get a loan? Would like to do what makes good financial sense.
3. What Investment options to consider:
a) real estate – buy property and/or get a tenant
b) invest in stock/funds/etf? So far, I haven’t been good at this .
c) Other optiuons?
Thanks!