🏠 🎯 Should I keep investing in real estate or focus on experiences and financial independence?
🏠 🎯 Should I keep investing in real estate or focus on experiences and financial independence?
From this Reddit thread:
41 years old with three kids Net Worth: $2.26M
Net worth Breakdown: Retirement Accounts: $1.1M Rental Property Equity: $767k Money Market Account: $154k Primary Residence Equity: $125k 529 Plans: $56k Precious Metals: $30k
When I first started investing in real estate, I envisioned myself owning dozens or hundreds of doors like many of the stories we hear. As I get closer to financial independence, I’m starting to question whether this is something I really want or if chasing that was more of an ego thing. The four properties I have today are very easy to self-manage so I could definitely expand, but I also don’t want to buy more doors just for the sake of owning more doors.
My rental properties provide $2,500 in monthly cash flow which will increase to about $7,500 when the mortgages are paid off (which won’t happen for a couple decades). I would want about $12,000 per month to live comfortably in retirement.
I work in a very flexible, fully remote finance job so I’m in no hurry to retire (as long as I’m able to continue to working in this type of job). I’m able to earn a nice income while also having flexibility for hobbies and spending time with family.
I guess I’m starting to think about things differently and realizing that the next $100k down payment could instead be used for that nice car I’ve always wanted, or 10 really nice vacations with my family, or buying other experiences that will build memories for my family. Has anyone else ever reached this point and decided to stop expanding their portfolio? Any advice for me? Should I keep building or just coast and spend as much money as possible on life experiences? I would continue maxing my 401k and HSA while I’m working. Also, how close does it seem like I am too financial independence?
From this Reddit thread:
41 years old with three kids Net Worth: $2.26M
Net worth Breakdown: Retirement Accounts: $1.1M Rental Property Equity: $767k Money Market Account: $154k Primary Residence Equity: $125k 529 Plans: $56k Precious Metals: $30k
When I first started investing in real estate, I envisioned myself owning dozens or hundreds of doors like many of the stories we hear. As I get closer to financial independence, I’m starting to question whether this is something I really want or if chasing that was more of an ego thing. The four properties I have today are very easy to self-manage so I could definitely expand, but I also don’t want to buy more doors just for the sake of owning more doors.
My rental properties provide $2,500 in monthly cash flow which will increase to about $7,500 when the mortgages are paid off (which won’t happen for a couple decades). I would want about $12,000 per month to live comfortably in retirement.
I work in a very flexible, fully remote finance job so I’m in no hurry to retire (as long as I’m able to continue to working in this type of job). I’m able to earn a nice income while also having flexibility for hobbies and spending time with family.
I guess I’m starting to think about things differently and realizing that the next $100k down payment could instead be used for that nice car I’ve always wanted, or 10 really nice vacations with my family, or buying other experiences that will build memories for my family. Has anyone else ever reached this point and decided to stop expanding their portfolio? Any advice for me? Should I keep building or just coast and spend as much money as possible on life experiences? I would continue maxing my 401k and HSA while I’m working. Also, how close does it seem like I am too financial independence?
1 Answer
Some might say these are very enviable issues to have. Here's one for others in the same boat: https://finfam.app/mahmoud/views/life-vs-real-estate
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