What Should I be Doing With My Money?
My name us Jack Perfett and I am a 20 year old college student that lives in Pittsburgh. I currently have no expenses, (college and housing is paid for) and am interning this summer and making decent money. I figured since I am in the financial state that I am in I might as well start my financial career early. I really like the idea of investing into index funds, but am now liking the hands on aspect of real estate. I am unsure if I should pouring my money into the stock market to take advantage of compound interest at my young age, or save this money for a down payment on a rental property. Please let me know what you think. Any advice is welcome!
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@Jack Perfett
I wish I was thinking like you at your age! One thing I wish I did Was house hack. Buy a 2-4 unit home and live in one unit and rent out the rest. You don’t need a lot of money down and will drastically reduce your living expenses while you earn equity. If you’re feeling bold buy one that’s a fixer upper and do that a few times.
Good Luck!