I have a question for you. I’m paying off all debt. Then I will save up 6 months emergency fund. And 43 and have no investments and do rent. Not sure if I will ever buy here in San Diego or not? My 11 year old daughter lives in Detroit so my idea is to continue to rant here but then probably also rent a place there within the next 2 years so I can spend more time there. My business is here so I need to keep a footprint here. I’m also looking at land in Montana right now with a couple of friends because it’s so cheap. Where do I put saving for a home on my checklist? Is this just after everything’s paid off and I’m living on half and investing the rest? Do I take some of that investment money and put toward saving for a down payment? Thanks for any thoughts. You are definitely the leader in this space and I’m sending as many people your way as I can.
Hey @Bturkett!
It sounds like you’ve got a few different goals going. Take a look at this priority:
If you’re on phase 5 and you want to own, then for sure pile up money to buy. I generally wouldn’t suggest “land in montana” as a wise investment. When buying investments I focus on things that provide actual income as you hold it. Those things are stocks and investment real estate. Speculating on land value doesn’t count because no one is paying you rent.