Quote:
Originally Posted by kowalski
None of that is going to matter by the time we retire. The world isn't going to be anything like this one by then. You are planning for a future like the present but it won't be.
Peace,
kowalski
|
That makes you think. I like that.
I'm 23 myself and although I am very big on saving, I'd rather save my money in a savings account or an ISA(if the rate was better). I have a plan of what to spend my money on, and that is property.
As long as there aren't any hiccups i.e. buying before a crash, all I need is 4 properties (3 rentals[50 mortgage 50 profit], 1 of my own). The average spent on rent is about a third of a persons wage(alot higher in London). This, I hope is done by the time I'm 30 and by the time I'm 55, the mortgages will be paid off.
The only issue is, as I am young I am very much in the moment oriented, this is very hard for my plan. Can I really be trusted to save for the next 7 years and stay where I am(unless I get a decent pay rise)?