What to do: have 6 figures in the bank. Buy shiity flat, buy expensive flat or just continue to enjoy number going up. No kids. No hope. Im leaning towards shitty flat because i’d pay it off quickly but if all goes to hell then does it matter?
Genuine question. Current living situation is irritating but cheap.
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Hi stupid but have money, I’m dad
If I were in that situation I would buy a shitty flat, pay it off, then spend as little time there as possible while traveling the world. Maybe have some passive income from the flat by renting it out. Not having kids to worry about would make all that a lot simpler.
But you should do what makes you happy. Try not to worry too much about the future and enjoy what you have now.
Im leaning towards this but the thing is that I don’t actually want to do anything. I have no desires aside from sit on couch and drink. There is nothing I enjoy aside from food and booze. I can do whatever I want, I’m incredibly lucky, and I just want to be be unconscious.
Maybe some of your money would be well spent on therapy and/or antidepressants.
Yes, a lot of things suck in the world right now, but there are a lot of great things when you look at the micro level—unless you have depression. And that’s the strong vibe I’m getting from your comments. Therapy isn’t a total fix and finding the right drugs can be a pain, but they can both make a significant difference over time.
I have antidepressants and you’re not wrong. I was also poor for a long time and convinced myself that I dont actually need anything that costs money. Hence the 6 figure bank account.
It does sound like you may be suffering from depression, but it also sounds like you are receiving treatment. Assuming this isn’t something medical, maybe you need a change of scenery to change your outlook.
You could travel, as I would have. You could also engage in a hobby (perhaps with friends, new or old). If you’re feeling altruistic, maybe think of something that you wish someone had done for you, when you were in a worse situation. Maybe you know someone who’s down on their luck and you can help them. It doesn’t have to be with money, it can be in other ways. I’ve heard that one way to break out of the depression spiral is to focus your attention outward instead of inward. That would be a way to do it.
I hope you find your way out of the funk. As bleak as things look, there are still things to be happy about and be grateful for. Don’t let your past prevent you from appreciating the present.
If all goes to hell in the way you’re describing, that number in your bank account will do nothing for you. You could, as another comment suggested, get into prepping as your hobby but just based on this post I’m thinking if shit truly “went down” I imagine you don’t really want to stick around for it.
For that reason I think you should get something you can afford, and keep some money around for exploring new hobbies. That will remove the irritation of renting but you’ll be responsible for everything which could be a new set of irritations. You have, as you say, no desire to do anything. I don’t know how you pass time now but to me, that means you should try new things and see if they stick.
Go for a couple hikes, take some pictures while you’re there (especially if it’s in nature, like a forest). Try playing some video games, read some interesting books, cook a few more intricate meals. Start learning another language. Try something creative like writing, you don’t have to share it after or try to make money from it, just doing it to do it. It doesn’t really matter, just if you think of an activity you haven’t tried recently, give it a shot and if you like it keep going.
Not every day all the time, but maybe a day or two a week you attempt something. Even if that doesn’t necessarily help, at least it keeps things interesting. All I’m getting at is “Number goes up” hasn’t worked so far, so try something else. And so what if all goes to hell, when it does would you rather be right and have done nothing because it didn’t matter or would you rather have enjoyed a few things in the meantime?
You’re a good person Bongles. Number goes up is my security blanket but you are right about trying things. Poverty makes me dull and I’ve trained myself to do nothing and spend nothing. I do cook though so that’s something.
Learn to cook every style of cuisine, you can easily afford vanilla, lol. I mean the real whole beans that are like $30 a bean.
I appreciate that.
Number goes up is my security blanket
That’s fair, and it’s now put you in the position to be able to branch out. As long as you keep it reasonable, there’s no harm in spending some. Do the smart stuff, emergency funds and all that, then you should be all set to try some things out. Might even have enough to do some safe investing (but probably talk to an expert first).
I’m too far the other way, single no kids and renting, but no savings either. So ¯\_(ツ)_/¯
Joy doesn’t require skill. Have a go at loads of things, even stuff you might not think is you. You just might find something great to anchor to.
You have money. Go to school for something interesting. Find a passion.
You can give it to me. I will manage it for you.
just buy what would make you happy / comfortable
It sounds like op doesn’t know what they want. Ultimately, OP, I think you have to figure out that question.
When was the last time you were consistently happy? Are there any people in your lives of whom you’d wish to trade places?
I never compare myself to others. Interesting question. So no. Consistently happy? No, lifelong depression, the goal here is avoidance of misery, happiness is not an option.
If you’re depressed, avoid impoverished neighborhoods (i.e. shitty flats). Poverty is depressing, and as elitist as that might sound, it’s fucking true.
Go get yourself a flat in a bougie neighborhood, somewhere walkable, with plenty of greenspace, well-maintained infrastructure, and happy neighbors.
You might still be depressed, but it’ll be magnitudes less than if you move into the cheapest place you can find.
Ok then, skip Happiness for now, can you come up with anything that would feel meaningful? I do think you could benefit from therapy either way and/or anti-depreccent. There is no shame in needing a little help in your life. I’ve Been on anti-depreccent about 10-yeara and just recently stopped. It really helped me through a couple of difficult years, that and just talking to someone has made a huge difference. All love.
Im on anti depressants my friend :) yay drugs! It has improved things. Meaningful? I don’t even know what that means.
Ok forget meaning and happiness. Let’s talk utilitarian. What living space would best fit what you need? If you don’t need much, tuck most of that money in a relatively safe investment and buy whatever you could pay off the quickest. Life is long, you’re going to need that money someday.
How many bedrooms do I need to be a cat lady? Maybe I can find meaning here… I’m thinking 2, the second one is an extra 80k or so.
Then go for 2 ☺️ the extra bedroom can be split usage, maybe a spare bedroom for guests, a playroom for the cats, and a small home office. We have 3 cats and they definitely brighten the day. Wish you the best!
Does traveling make you happy?
Hiking to a clear mountain view is one great way to start feeling better
Or idk, buy a sweet car and rent a circuit track to race it on. Maybe you’ll meet friends. Thats what id do.
buy shitty flat, wait a few years and pay down the loan as if the interest rate is and extra 2%, in a year or 2 sell the shitty flat and buy a better one. rinse and repeat
Welcome to the property ladder.
Yeah! Capitalize on housing! This is normal!
The shitty flats have been the same price for a decade, plus the goal here is to stop moving. I’ve rented too many places, just want a home.
You interested in home improvement? Buy the shitty flat, slowly fix it up the way you like, and if you ever decide to sell, it’ll likely be worth a little more.
No hope.
Weird thing to say. If you were looking purely for financial advice, that’s one thing. But if you have no hope, then I don’t see the point in having good finances.
if it all goes to hell then does it matter?
Again, weird thing to say.
Of course, this is no stupid questions, so you can ask whatever you want. But imo, we need a lot more context to help you, and your actual problem has little to do with where you live
if you have no hope, then I don’t see the point in having good finances.
Guess you answered my question.
Try to remember that real estate always has ongoing expenses like repairs, taxes, insurance.
so dont blow it all.
Buy stock
Which one?
Buy stocks in companies that you:
- Know and understand what they do
- Generally vibe okay with that kinda business
- See the appeal for consumers in a general sense
- Ideally don’t have a lot of other companies doing the same thing
Don’t take stock advice from strangers on the Internet
Sure, why not Lem?
OXO
SPY
Fuck. I’m smart and broke
If you were smart you’d just pull yourself up by the bootstraps.
The secret ingredient, is crime.
(You could easily run for office and abandon all yout morals… accept bribes, get rich)
Talk to a financial advisor. The moment I was making more money than i knew how to confidently manage myself, i talked to a financial advisor and it was one of the better decisions i’ve made. Now i know exactly what i can spend on what and still be saving what i need to.
What if you think the whole system is going to collapse, or you hope it’s going to collapse, what is the financial advice for climate change meets trumpistan?
All I know is in that situation, owning property outright with the means to defend it is the only safe bet. You should just turn it into a prepping hobby, there’s worse stuff to get into out there.
You know what I’m going to say something different and I hope it’s not too inappropriate.
The other commenters have done well so far. But have you considered using some of your money for therapy? I see you said you’re on antidepressants, but I wasn’t sure if you were already in therapy or not.
I don’t mean this as a cop out answer and I don’t mean that they will directly help you with your finances. But it might be a good idea to talk to someone about the “nothing matters because the world is going to shit” mentality. Even if there is merit to what you say, it isn’t exactly helping you feel happy or satisfied with your life. If you can learn to cope with this particular thought, you might find the rest falling into place a little easier.
Talk to a financial advisor anyway.
100% agree.
Choose whichever one has less annoying neighbors if you can figure it out. Ie the one without a shared wall.
If you can afford both thays all that matters to me.
If you have a place to store your stuff, maybe look at other countries. Living in America was very depressing.
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Well id plan a little bit for things to go to shit, but also have some fun. This world won’t last and we could be in ww3 tomorrow or wiped out by a global disease next year.
If that doesnt happen, you should buy some assets like a paid off house so when the economy crashes you won’t be homeless. Money don’t mean shit when a wheelbarrow of dollar bills buys you 1 potato.
If you didn’t have to work, what would you do? Do you still want to work? Would you do something else? Do you have any hobbies?
I’m asking because I’m planning on taking a sabbatical from work because I’m tired of working and I want to enjoy some time away from work.
If you didn’t have to work, what would you do?
Two chicks at the same time. But for real, 6 figures isn’t enough to retire on for a lot of people these days considering their age and lifestyle.
I wouldn’t do anything. Take your time away but don’t ask people like me, I have nothing to do. A hobby would be healthy but my bank account going up is my hobby.
I think that explains why your life is a hopeless void seemingly not worth living
Somehow your brain just wants to make meaningless number go up and that’s it
Should go buy some therapy or something with that money and have them teach you to do human stuff instead
Meaningless number go up = security and not being homeless ever again. Unemployment taught me that money is the only thing that matters. So I’m terrified of letting go of it. My bank account is the only thing that has ever made me feel safe. This is not inhuman.
Sounds p inhuman to me, understandable but very inhuman
Maybe money can now teach you it is one of the last things that matters
Do you like working?
No, do you?
No, but I have things I like to do outside of work and my work funds those activities.
Based on your responses, it seems like the only thing you like to do is to see your net worth go up. Any reason why you don’t have any hobbies?
I like to cook and bake so those are kind of my hobbies. I cut everything out of my life when I was unemployed and that’s where the money obsession comes from. I don’t ever want to be homeless again. Money equals security to me. Plus lifelong depression means I don’t actually get happy about anything, except food. My goal is just avoiding pain.
It looks like you’re doing a great job at protecting yourself against a horrible life, but it looks like you haven’t planned out creating a good life.
I’d save your money and have it grow, but I’d start looking into low/no cost hobbies or something to add some joy in your life.
