I’m 31 and have $383k invested in stock market. I’m trying to decide if I should leave the money invested and continue contributing yearly or take 1/4 out to use for a down payment on a condo. I feel torn because both options seem to have long-term benefits and risks.
My main goal is to build long-term wealth and have enough to retire.
Part of me thinks it makes sense to keep the investments growing, especially since I have a longish time horizon still and compound growth could really help me over time.
At the same time, I worry about rising rent. I’m worried that continuing to rent for too many more years could hurt me financially in the long run. Buying a condo could provide more stability, build equity and protect me from future rent increases. However I also know that owning property comes with added expenses like maintenance, taxes, insurance and HOA fees.
I’m struggling to figure out what financial position will help me most over the next 20 to 30 years. I want to make the smartest choice to be able to retirement and have financial security
Let’s just say being an adult sucks and the fact that I have to even plan and think about this makes me not always love life.