Hello everyone,
Since my last questions I have really been reading up on investments and financial independence, and thanks to all of you who I have learned so much from. Here is my current situation/decision, any advice would be appreciated.
I am 26 years old, no debt, no car, I live in a rental apartment.
I make $31,200 after taxes, and am saving $15,600 a year, which I know means I am lower on money earning power than many of you.
Using Mustachianism, thus far, I have saved $17,000.
So my question is this: I really want to invest, and I know which funds I'm interested in. I also really want to save money for a down payment on a house. Am I correct in thinking that the money I put into funds should just live there forever until I can reach FI? If so, does this mean that while I am investing, I should also be separately saving for a house down payment? OR, should I just focus on saving for a house now, so that I can stop paying rent sooner? My goal house (I track real estate as a hobby so I'm realistic) would be between $115k and $160k.
What do you think? Does it make more sense to only save for a house? Or should I take longer to accrue a down payment and begin investing immediately also? Additionally, if I am saving for a house separately, where should I do this? Surely not in a savings account?
Many thanks!