Hi, I would like some advice in my worries.
I have been a working person for about a year and a half, but I am living very poorly because I want to buy a house some day and live comfortably. So far I have saved about $27,300. My current income is $78,000 (pre-tax). I live in a tiny apartment with roommates and have nothing but computer, desk, cloths, closet. (I eat at work, sleep on floor). I really want to buy a tiny cheap condominium or house, but they are extremely expensive. After a year and a half.. it seems I am getting sick of this saving money, while giving my mom and dad money. Obviously I have not done enough research to invest in things, but stupidly kept putting most of my money into checking account. So my questions are
1) At 78k, in Los Angeles county, how much do I need to save to buy a decent place to live (not apartment)
2) What is a good "extremely small risk" investment?
3) Is it worth living crappy to save in hopes of finally getting a home of my own? I want a home or condominium in Glendale or Burbank, 2~3 bedrooms in case I get married. And I wish my mortgage payment to be less than $2,000 a month. Is this doable? and when?
4) If what I am asking is impossible in Burbank/Glendale area, what must my minimum income be to achieve this? (I have slightly higher offers, but I really like my current work)
I have no payments except $580 for my room, and food/entertainment stuff.
Last edited by leo3an; 05-14-2007 at 03:26 AM..
Reason: re-organized questions