Planning Ahead for 2020

[Mischael Metelus]

So after two years of saving, investing, rinse, wash and repeat. I've almost hit my goal of 100K, expecting to reach the goal 1st quarter of 2020, 1/10th of the way to a million (whoop whoop). All that joy aside though, I guess my question comes down to what's next? I've been happy with the growth I've had so far, but would certainly like to see it grow faster, but I'm also worried about security. Real-estate is an interest of mine, so would what be a good route to take with my first $100K?

[Abel Curiel]

Originally posted by @Mischael Metelus:

So after two years of saving, investing, rinse, wash and repeat. I've almost hit my goal of 100K, expecting to reach the goal 1st quarter of 2020, 1/10th of the way to a million (whoop whoop). All that joy aside though, I guess my question comes down to what's next? I've been happy with the growth I've had so far, but would certainly like to see it grow faster, but I'm also worried about security. Real-estate is an interest of mine, so would what be a good route to take with my first $100K?

Hey Mischael, 

Congrats on your progress towards your $100K goal!

The best route for you will depend on: your current living situation; where you want to live/invest; what you want to accomplish in the next 5,10,20+ years.

That being said, a good first step is house-hacking. It is the same way I and many other folks got started. I like this route because you can get in a property with as little as 3.5% down, gain acquisition experience, gain property management experience and project management experience - if there is some renovation/rehab work taking place. 

The low down payment will keep more $ in your pocket so that you don't go blowing all that you've worked so hard to save. The experience will help you springboard into your next investment property.

Best of luck to you on your journey!

Abel