97guns
Full time employment: Posting here.
My mom recently cashed in an annuity and kicked my brothers kid down 35k. She is 35, single and is terrible with saving but she is responsible enough to keep the same job for 10 years, pay the rent/utilities and general living without using credit. My mom has given her money before just to find that she blew it all on junk so this time she gave it to my brother for him to invest in her name, I don’t know what they bought stocks or funds or IRA.
The advice I gave my mom was that she would have been better off
Putting the $35k into a house, i added that it’s the perfect way for her to save money through equity, in essence she is being forced to save by making the mortgage payment and the house would act as a savings account. She is already 35 and the sooner she starts a 30 year loan the better.
The whole subject came up because the 35k was already invested last year but she just told my mom that she’s interested in buying a house with her partner. My mom wants to help her again get into something.
The advice I gave my mom was that she would have been better off
Putting the $35k into a house, i added that it’s the perfect way for her to save money through equity, in essence she is being forced to save by making the mortgage payment and the house would act as a savings account. She is already 35 and the sooner she starts a 30 year loan the better.
The whole subject came up because the 35k was already invested last year but she just told my mom that she’s interested in buying a house with her partner. My mom wants to help her again get into something.