Risks (in your opinion) that you took financially that paid off?

[Anonymous]

Left stable job of computer programming, went to grad school, and changed my career entirely to a much more fulfilling and interesting field.

[Anonymous]

Three risks that have paid off;

1. In 2008 bought a 500k home in exurbs (market downturn) by putting 3% down, kept the mortgage 15 yrs, walked out 11 years later with $200k in equity. We did not wait for 20% down payment. Bought a 1.3 mil house in Bethesda in 2019.

2. Left my director level position to start working as a consultant (IT), income increased 4 times and never looked back.

[Anonymous]

^meant two risks, not three

[Anonymous]

Anonymous wrote:Three risks that have paid off;

1. In 2008 bought a 500k home in exurbs (market downturn) by putting 3% down, kept the mortgage 15 yrs, walked out 11 years later with $200k in equity. We did not wait for 20% down payment. Bought a 1.3 mil house in Bethesda in 2019.

2. Left my director level position to start working as a consultant (IT), income increased 4 times and never looked back.

(2) can be considered a risk, but I don't see how (1) is a risk.

[Anonymous]

Bought $500K worth of TSLA stock about a year before it’s meteoric rise and multiple splits. Now I’m 42 yo and don’t have to work anymore.

[Anonymous]

Quit a good job to start a business doing the same work on a freelance basis. Grew to 11 staff before I sold my share to a partner for enough to pay off our house, student loans and substantially finance retirement.

Moved to another country for three amazing years.

Paid cash for a condo in PNM when we got back (mostly because no banks would give us a mortgage because my spouse's work abroad had ended and we had just started a new business with no track record of revenues). Hated PNM, sold 15 months later and netted over $120K.

[Anonymous]

Anonymous wrote:Bought $500K worth of TSLA stock about a year before it’s meteoric rise and multiple splits. Now I’m 42 yo and don’t have to work anymore.

Put it all on black!!

[Anonymous]

Saved the money we made on our last move then for 7 years we put all raises and bonuses into that and paid off our new home. The only home we actually paid off. We moved 5 times. This home being the last.

After that we super saved all those monthly mortgage payments and all bonuses. We kept the raises and put that into a health savings account. Then during the Covid crap my husband lost his job. He officially retired at 60. Had a very healthy 401K that's currently invested.

It was and has been the best thing we ever did.

[Anonymous]

In 1997 taking out a $10000 loan from my TSP for a down payment on a house. That $10000 turned to 100K for the down payment on my 2001 home and that became our forever home. It is worth about $1.2 million and is paid off in full.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Paid cash for what we thought was an expensive house in 2017. House value has increased by a million dollars in 6 years.

In retrospect that seems like a bad deal, you could've got a mortgage at 3% and let the 80% ride on the stock market and still made your million in equity, but also double the initial 80% in the market.

Nope. Mortgage wouldn’t have been 3% and the stock market was too risky during Covid. Our house has appreciated by 60%. Stock would not have given us that level of return on investment. The house keeps appreciating, I’m not paying a higher price for the house through interest and bank fees, and I have the security of a paid house. I can always take out a line of credit on the house if I need it but we have plenty of money invested in other assets. I feel we got a great windfall.

[Anonymous]

Marrying a guy who was still in undergrad and had student loan debt. He's amazing.

[Anonymous]

Having a baby during my junior/young career years vs. waiting til I was older

Buying a house when we were on one income

Brief (<2 years) career break

[Anonymous]

Anonymous wrote:Marrying a guy who was still in undergrad and had student loan debt. He's amazing.

Love this!

[Anonymous]

Anonymous wrote:Bought $500K worth of TSLA stock about a year before it’s meteoric rise and multiple splits. Now I’m 42 yo and don’t have to work anymore.

Did I write this? Me too, but a little later. It became so clear this stock was going up regardless of what the P/E was or if the company even made money. People were screaming from the rooftops to get in and I was listening.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Bought $500K worth of TSLA stock about a year before it’s meteoric rise and multiple splits. Now I’m 42 yo and don’t have to work anymore.

Did I write this? Me too, but a little later. It became so clear this stock was going up regardless of what the P/E was or if the company even made money. People were screaming from the rooftops to get in and I was listening.

PP here. It was crazy for sure. Completely overvalued stock but the writing was on the wall and could see lots of people buying into the EV hype. Wasn’t even my biggest investment that year. Trying to grow my Roth IRA to Ted Weschler levels.