What To Do With My Savings ?

[Shan]

Reading some of the forums, I thought there is no shame in getting some input on a personal dilemma.

We desperately need to upgrade our current house (this is non-negotiable as it's small and we are expecting a baby and parents to help soon ). I am stuck in my current job and desperately want to explore my life purpose/business ideas which I am yet to gain further clarity on. Time is ticking and my clarity hasn't improved much over the last 3 months if I work full-time.

 I have enough savings made over the last 5 years which can help put a deposit and buy a badly required new house.  This will also yield a growth of 10% every year, But then I won't have the option of quitting my job as there will be no savings left to pay the mortgage.

Should l quit my job and explore my life purpose / possible business ideas by dipping into my savings OR should I buy a new house and hang to the job and progress very slowly?

 

Edited July 2, 2017 by Shan

[Steph1988]

@Shan I was in exactly the same situation (without the children tho) actually what a coincidence.

I did it like, this i bought the house but i went from full time work to 32 hours and that is enough time left i think to build something up on the side.

I did it for the long term because i'm gonna lose sooo much money by renting over a longer period (rents are extremely high where i live) 

most important thing is to still have financial room to have flexibility so you don't have to work in a job you don't like for 50 hours a week or more, in that case i would not do it u just find something for at the most 38 hours that is bearable. 

U might take into account that u might never find a single life purpose maybe your life purpose is to work a job but at the same time be a really good parent and being skilled in a sport, able to play music or build pc's or whatever u like to do and that might actually not such a bad life.

And if you are one of those people who do single out a true life purpose you will give it your all regardless of the job u will absolutely work those 80-90 hours a week i think.

Thing is tho i don't have children and that is the point i where my advice is kind of limited.

Edited July 2, 2017 by Steph1988

[Shan]

Hi @Steph1988 great advice. Thanks and I will keep that in mind ! 

[Nahm]

@Shan What am I missing here? A deposit on a house is not enough money to quit a job and live off of. Are you months away from Medicare and social security? (If you're in the U.S. or your country has a similiar social program)