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RE: Vlog #89: One of the biggest things in life that I fear is debt.
I'm 29 years old and the idea of buying a house doesn't frighten me because it will be near impossible for me to ever buy a house despite having a middle class job. Im a structural engineer and make okay pay but based on other people's pay scale and with current home prices, starting a family with a wife and a single kid would require me to nearly double my pay just to be able to save enough to put a down payment on a house.
That says a lot about the job market (somehow employment is at 4.7% in the US and we cant seem to save anything).
So what do you do? I'm not sure to be honest... I ended up investing in crypto and stocks. What do you guys do with your money?
I ended up doing the same. But I no longer have stocks, only crypto.
Are you trading crypto with a long-term outlook, or is it purely trading for profit and moving into and out of positions?
I have done day trading and swing trading for profit, but it requires a lot of time and commitment, of which I don't really have given the nature of my day job. Most of money goes to crypto because I don't see saving it as useful right now.
In order to accumulate enough to buy a house, I'd have to work almost 15 years to be able to afford something in NYC. But investing in crypto, like any asset class is much risker than anything else.
Alternatively I could find a new job that pays more!
Long-term outlook. I buy and hold. I used to trade but it's like you said takes a lot of time and buy and hold has proven way more profitable for me.