So I thought I had finished journal-wise, but lots of changes have happened recently and I'm about to make big financial decisions, so want to keep track of eveything. Cut a very long story short, I'm no longer a homeowner but have £206 000 in cash to invest. I'm temporarily living back home with parents, which financially is great but is starting to drive me slightly mad, so I'm looking to buy somewhere. So....
Option 1) I buy in my home town, which is a georgeous place to live and consequently very expensive. I would have to spend at least £175 000 buying something.
Option 2) I buy in a nearby town 6 miles away, which is an ok place but very dull and boring. I can buy here though for about £115 000.
If I'm honest, option 2 is definitely the one to go for. Living expenses would be the same, both walking distance of amenities etc. Plus theres good train and bus links to my hometown, so its not like I would be stuck there. And I want to keep back at least half my capital to invest for the long term. The other benefit is I would be close to a basic level of FI, around a 5% wr could cover all my basic expenses.
That said, I want to semi-retire rather than fully ERE, so really want zero withdrawals and let the capital compound.
My current job I've been here almost a year, which is remarkable given I almost quit on the first week. Its got better, but I dont enjoy it and my pay is very low. I've got some business ideas I want to try out, and I keep looking for alternative careers which I might be better suited for. I REALLY need a change.
Goals for this month:
1 - Track every penny of expenditure
2 - Carry on flat hunting