Hi there!
I need some mustachian advice on how to handle this situation.
I'm 24 in SoCal with no debts and a well paid job that leaves me with around 2k a month to save/invest.
My dad who is extremely generous (and stubborn) has gifted me 20k to help with a down payment on a house (or 2,3, or 4 unit). However, we both know that I would need to build up a substantial pile of money for emergencies or other costs with taking on real estate. I also intend on paying back his gift, as I see it as a loan with an unknown interest rate and undefined due date.
I have tried to explain to my dad my goal to FIRE, which means looking at a wider array of investments, including retirement accounts and stocks (and not working my whole life). He doesn't "believe" in long-term stock investments and insists that I buy real estate (meaning that I would also need sit on my spare 2k a month for those future unknowns). From a financial standpoint, my 2k a month would be better used in a deferred compensation plan at work and index investing, rather than just sitting on it. Secondly, SoCal multi family properties don't seem to have the cash flow to justify the investment.
I want to be FI, and have cut my spending way down and killed my student loans. I want to invest for this, which makes me consider all my options.
My dad, though well intentioned, expects that I only invest in real estate. Which means he is heavily influencing how I handle the 2k a month from work. I recognize it might be pride at work, making a thoughtful discussion about money more difficult. I don't want this to snowball into something worse.
Any outside perspective?
Thanks so much!