If you’re currently financially in crisis, it will probably save your life. But if you’re doing okay, it probably won’t change your life much. And if you’re even mildly rich, like six figure salary, you might not even notice.
I’d probably just put it in vanguard or a high yield savings, in preparation for bigger expenses that are probably coming (eg: moving, unemployment)
You suggested only people making six figures should live in Brooklyn. So when I was a grad student going to school on Brooklyn, where should I have lived?
Apartments here are ridiculous. I can get a home loan with payments half of a comparable apartment. Yes, I would be responsible for maintenance but I’ve owned before and it is still less expensive than renting even with maintenance.
$50k is a weird amount.
If you’re currently financially in crisis, it will probably save your life. But if you’re doing okay, it probably won’t change your life much. And if you’re even mildly rich, like six figure salary, you might not even notice.
I’d probably just put it in vanguard or a high yield savings, in preparation for bigger expenses that are probably coming (eg: moving, unemployment)
I’m doing ok but 50k would let me put a down payment on a house which would still be life changing.
You’re making me grapple with how expensive housing is here. A down payment for a two bedroom apartment in Brooklyn is going to be like $100-200k.
It’s fine, I tell myself. I can walk to everything I need and take transit to everything else.
If you’re living in Brooklyn and not making six figures, you don’t need to be living in Brooklyn.
I went to school in Brooklyn. Where should I have lived?
What does that have to do with it?
You suggested only people making six figures should live in Brooklyn. So when I was a grad student going to school on Brooklyn, where should I have lived?
As a child or in college?
Apartments here are ridiculous. I can get a home loan with payments half of a comparable apartment. Yes, I would be responsible for maintenance but I’ve owned before and it is still less expensive than renting even with maintenance.
My thoughts exactly. It wouldn’t change things day to day for me other than going from renting to owning.
Same, or maybe split it and use half to pay off a bit of my mortgage principal.