Quote:
Originally Posted by DoomBugle
My current house is njce, but my commute sucks (1 hour + each way). I could use some guidance. 1st world problems, yada yada...
Use the money to improve your quality of life. Get rid of that commute if you can.
Quote:
Originally Posted by ToothSayer
A third option is to move to a much nicer house but rent it. That way you're not locked in, have the nicer house, and can still trade with all of your money.
I don't like house renting so much. Dealing with landlords, short leases, rent increases, renters move more frequently, restrictions on how you can use the property, renovations and upkeep falls behind because who wants to pay for them on a house you don't own, etc. YMMV if you find a really good situation, but to me its a lower QoL.
Quote:
Originally Posted by sebbb
DoomBugle:
My advice:
- don't scale up your expenses by buying a big house
- don't scale up your trading/speculation; consider scaling it down
- invest and keep saving
This. So get a modest house that improves your QoL by getting rid of the commute as much as possible (considering other factors too, of course).
And point 2 above: if you made a big score you are almost certainly trading too large. Remember you can be a great trader with a big edge, and still lose money if you consistently bet much more than the optimal Kelly bet.