In the private FB Group for my students, the age old ‘Buying vs Renting a House’ debate has popped up. Which always sparks a good thread. I’ve written a lot on this topic but the thing is, FOR ME PERSONALLY, renting always wins when doing the Maths. I’m OBSESSED with Opportunity Cost! Especially if you have a business because I can dump £30k into my business (mostly in FB marketing) and turn that £30k into £60k in a matter of months. Whereas if you dump £30k into a deposit you are just wasting the earning potential of those 30 000 £1 miners designed to work for you. You need to imagine each £1 you have is a little miner with a pick axe and you need to put them in the gold mine. If you don’t they’ll all just go down to the pub and erode away or get you into debt!
Also, my favourite Winston Churchill quote comes to mind here:
“To each there comes in their lifetime a special moment when they are figuratively tapped on the shoulder and offered the chance to do a very special thing, unique to them and fitted to their talents. What a tragedy if that moment finds them unprepared or unqualified for that which could have been their finest hour.” – What a ledge!
Right now, we are living through an economic REVOLUTION with what Crypto currencies and Blockchain are doing to the financial eco system. It’s beginning to tear it up in a great way and the banks are scared. Everything from buying houses, voting, buying businesses, legal contracts to money itself is changing. Blockchain is here to stay and it’s like the internet in 1995.
So I’d do an aggressive skill/knowledge acquisition and spend an hour or two every night for 6 months to become proficient at this and invest in Cryptos now. In a few years you’ll thank yourself instead of plonking your hard earned/borrowed capital into a house deposit and sitting there doing nothing…anyway, enough rambling. Have a read of this article to find out more about Cryptos: http://www.therealistictrader.com/ridiculous-bitcoin-bubble/