When I learned about this community, it seemed like it has the right spirit for me. I need some advice and hope this is the right place to ask.
After a very, very long PhD, I'm finally employed, climbing a career ladder. The major thing is that I want to get off this ladder altogether in the not-too-distant future and pursue projects meaningful to me that also help the less fortunate - and may have little or no 'standard' job-related income at that point.
So I want to leverage my current good fortune wisely. My salary is $100K in NYC, and I'm up for a promotion soon; I think I will likely go up to $115K or so; perhaps the ceiling within 5 years is ~130K. Through careful savings and an inheritance, I've got $75K in a Roth IRA (should leave it alone, right?) and ~$375K in investments (stocks and bonds) and cash.
Right now, I am living month-to-month in a 'short-term' shared 2-bedroom and I am ready to move. So living/real estate is the major decision for me to make.
I could buy a nice 2-bed/1-bath in a rapidly gentrifying neighborhood for ~350K plus $1200/month maintenance right now (I'm thinking with a 30-year mortgage). Or I could hold out for something larger (example something with 2 bathrooms for ~400K) or even a multifamily home for 500-600K, and rent out a portion as an investment.
Part of me thinks we're in a real estate / economic bubble and I should rent for a while to see what happens; the other part wants to just get on with my life already and stop speculating/worrying.
It would be nice to imagine that I'll find a life partner and may have a child or adopt/foster one.
As I mentioned, my goal would be to become financially self-sufficient as soon as possible so I can quit my stressful job and do things I find very meaningful that will have a positive impact on my community and hopefully the world.
In any case, THANK YOU for any advice and wisdom you can offer.
