neilgodwin (u/neilgodwin)

neilgodwin commented on Ask HN: I've saved up $80k USD. What should I do with it? · Posted by u/neilgodwin

keiferski · 5 years ago

Do you have any interest in building a startup yourself? If so, $80k will last you 4-5 years for bootstrapping if you move to a low cost area and don’t have any dependents or other expenses.

neilgodwin · 5 years ago

I sure am, but as mentioned in one of the replies, I would need an idea that I believe enogh in. Would you do it differently? How do you know if something is worth it?

neilgodwin commented on Ask HN: I've saved up $80k USD. What should I do with it? · Posted by u/neilgodwin

stevekemp · 5 years ago

Even if there were to be a massive freefall in housing it would take the banking system months, and probably years, to get round to processing all the mortgages which were in arrears.

Foreclosure is a slow, slow, slow process even at the best of times. People can avoid paying their mortgages and still be living in a property for many years. If you're imagining something that covers a significant amount of property that will take even longer.

neilgodwin · 5 years ago

So, you're saying no fall in prices in the short to mid term is expected?

neilgodwin commented on Ask HN: I've saved up $80k USD. What should I do with it? · Posted by u/neilgodwin

ForHackernews · 5 years ago

https://www.schwab.com/resource-center/insights/content/does...

Just invest in a broadly diversified index fund.

Start here if you're a total beginner: https://www.bogleheads.org/wiki/Getting_started

neilgodwin · 5 years ago

Thanks.

neilgodwin commented on Ask HN: I've saved up $80k USD. What should I do with it? · Posted by u/neilgodwin

sneak · 5 years ago

Short answer: Dump it all in VFIAX and ignore it for about 30 years.

Alternately, wait for the housing market freefall that is scheduled to hit about 180 days from now, and buy a foreclosure or two.

EDIT: Cosigning the above recommendation about maxing out a Roth IRA each and every year as well, and of course maxxing out any company-matched 401(k) options.

neilgodwin · 5 years ago

I've heard that the decrease in prices is expected for business housing, not so much in residential. What are your thoughts on that?

neilgodwin commented on Ask HN: I've saved up $80k USD. What should I do with it? · Posted by u/neilgodwin

Myce · 5 years ago

I would prefer to buy property any time. People will always need housing. So while the price of the property is pure speculation, rent is a nice steady source of income.

neilgodwin · 5 years ago

Assuming you had no property, would you be comfortable with your first purchase being something you can't yourself live in? Also, would owning mean a huge time investment maintianing it?

neilgodwin commented on Ask HN: I've saved up $80k USD. What should I do with it? · Posted by u/neilgodwin

uhnuhnuhn · 5 years ago

Nobody can answer that seriously without knowing your situation in life. Age, family, job, etc.

neilgodwin · 5 years ago

30, no family, software engineer, male

Dead Comment

Posted by u/neilgodwin 5 years ago

Ask HN: I've saved up $80k USD. What should I do with it?

u/neilgodwin

KarmaCake day25May 6, 2020View Original