• 3 Posts
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Joined 2 years ago
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Cake day: October 21st, 2023

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  • While yes your money is being eaten by inflation when sitting in the bank, if you’re seriously considering purchasing a house that is the correct place to put your money while continuing to build a deposit but you have to commit to an actual plan.

    IMO I don’t think you are psychologically prepared to invest (which is probably the biggest factor). Ironically buying a house is also investing but you’ve somehow created a divide in your mind on those two things which makes me think your risk tolerance is low (that’s ok).

    Investing is kind of like gambling but the odds of winning go up every year you stay invested, this is wholly not like gambling.

    In fact, no one that has invested long term (20+ years) in a broad based low cost index fund has lost money. The catch is you have to weather storms, GFC’s, life’s incidental hiccups and never withdraw the money even if its value has decreased 50% from yesterday.