[quote=kev374]gold is very volatile, holding gold can be risky as it has major swings. People also tend to over speculate in gold and it’s hard to know if it’s in a bubble or it’s value is intrinsic due to organic demand.[/quote]
Unless you plan to be moving around again… I still think in your particular situation, looking into buying a 1/1 for you to live in is probably the best return on your money.
1. You were complaining about paying an arm and a leg for rent a few weeks ago.
2. Even if 1/1’s are inflated, have you bothered to run the numbers to see what sort of payments you would be making with a standard 20% down, and current rate of around 4.3% for a 30 year…
If you’re able to find a 1/1 for $250k….
20% down on a 30 year fixed @ 4.3% is $990/month
HOA say is $200/month
Property tax @ 1.25% = $260/month.
Your monthly cost is $1420/month, before your Schedule A deductions on mortgage interest… Didn’t you say you were paying about $1300/month+ month on rent.., plus bending over by paying an additional $300-400/month to store your motorcycle and other personal items???
But instead, you’re thinking of moving your money to india so your can earn maybe 6-7% interest overseas after the exchange rates fees, etc…. And then when/if you do earn that questionable 6-7%, you’re going to probably pay 20-25% in federal+state income taxes on that, given that I believe you’re an engineer probably making around $100k-$150k, before any additional comps like bonuses, stock vesting etc (more if you do make that)…assuming you are on W2 and have very little in terms of itemized deductions otherwise….(If you’re a contractor with a 1099, perhaps you have more variables to play with)….
