Recent comments in /f/personalfinance

alexm2816 t1_jeea7cf wrote

Economics is a field that spans so far and so wide that no person can explain it in a reddit post. How we deal with scarcity (everything is scarce to some extent) is fascinating and has far more to do with our own value systems on a personal basis than anything to do with macro/micro economics.

The next recession will occur in the future. And then another one will happen. And another. On average recessions are likely every 7 years give or take and we're overdue. All the while things will likely trend up and like a boat in the ocean there's not much benefit to fighting it.

Read the wiki. Understand 80% of the 'what' by understanding the prime directive. Come back with actual focused questions that you haven't found an answer to as opposed to blanket statements asking for

1

bigwingding t1_jee8i0v wrote

I spent a bunch of money on homebrewing equipment only to lose my taste for beer in general a few months later. I know myself now. I like to pick up new hobbies just to see if I can do them, once I can confidently do the hobby I lose interest almost entirely. My understanding is that I like growing as an individual and am risk averse, I need to channel these qualities into something greater. In my specific case that's real-estate investing and finance. I wish you the best on your journey. Don't hate yourself for wanting to explore and try new things, cut your losses and try another thing to that will help you grow and further your personal and professional goals.

6

jsgquk82651g t1_jee8gjs wrote

Not Seattle, an example of one of the low houses in my area when I was looking at the same. The house had been abandoned for an undisclosed amount of time. There were no doors, and the house had some graffiti, but the copper seemed like it was still there from what was visible. The sale was all cash on the close of the auction. Because the house was exposed to the elements you were buying the land in the neighborhood and hoping to scrap as much as you could while you removed the entire interior structure and roof of the house. It still sold for twice starting price.

1

DD_equals_doodoo t1_jee83lm wrote

Part of this is incalculable. For example, the $60K job likely comes with higher potential earnings later on. It is generally much easier to move to $80K from $60K than it is from $42K and so on. Spending extra year(s) at a $42K job could come with significant opportunity costs down the road. Then you start thinking about time value of money, etc and those become magnified quite a bit.

0