> Currently staying with Parents in an owned flat\n> Single Child\n\n> Affording the flat is not the problem, but is it a good idea to take a loan and block so much money for the coming 20 yrs at this juncture?
131316
depends if the place where u will buy the flat has increasing rate of appreciation and also if u can fulfill your loan and can accomodate the monthly EMI in ur salary..maybe u myt be able to sell the flat later on on a good profit... i think u shud buy a flat becoz most of the places have prices appreciating now and if u decide to buy a flat then buy it now because the prices increase fast.
74362
Put the money where it can give you the most value at this particular point in your lives.\n\nConsider this order: Emergency fund (3-6 months of living expenses), high interest rate loans, retirement.\n\nMortgage is a long term debt, if it is comfortable for you at this time, leave it. Car? - does it run? Have you had trouble with it? Do you do the regular maintenance on it? If it works, and has no sign of giving up, then continue using the car - should you need to upgrade, consider recently used.\n\nChildren's college fund? Make sure your retirement is good first, then look after the children. It makes no sense to make sure their college education is great, and then have no where to go come retirement.\n\nInvesting in stocks - this is probably where your retirement money will be going. Stock investing is a 10year activity.\n\nWhat would I do with it? I would use it on whatever is the most important thing to me at the time I had the money. Emergency fund, high interest debt, retirement, family, entertainment, work.\n\nGood luck\n\nI am available - you can contact me directly via my website
394225
Apparently some mortgages are now based on affordability, ie you show them what all your outogings are and they assess what you could comfortably pay. So if you're single and don't have children, you might be given more. Also if you have no other debts this will help too.
527452
Invest it in a high interest acount over 10 years...its safer than investing in busines...;
431613
19 and looking into the future..\nThat is a great start my young grasshopper....\nYou are on you way to big adventures if you are smart with your decisions...\n1st you need to evaluate your expenses becasue if you do not have the money, you can not do it....\nIf I were you start looking at prices and conditions, meaning size of house, bedrooms, bathroom, lot size, taxes, insurance, etc...\nNow start saving $5000 per year, and in 5 years you will have $25,000 to put down on a nice home.....The more you put down the better loan you will get and easier process.\nYou have to calculate what you make a year and to see if you can afford the Mortgage, taxes, and insurance, etc....\n\nI bought my 1st home when I was 27, I put $20,000 into it, and now I own 3 more houses...\n\ngood luck
84967
I looked into interest-only loans for investing.  I own 5 investment properties, 3 with no mortgages, 2 with just under 27 years left on 30 year fixed.\n\nIn my opinion, interest-only loans are designed to rip-off people who aren't very good at math, or those who have too much money.  Which are you?  If you are neither, compare the various loans looking at parameters that are important to you.  For me, it was the amount I paid in interest and the amount of the total payment (P&I).  I would have done shorter term than 30 years, but with vacancy, I needed a sure thing.\n\nI don't like debt very much, that's why I bought three of the houses with cash.  When I recently re-fied the 2 with mortgages, I kept the existing terms of ~27 years instead of extending out to 30 years.  I am also paying extra principal on the one that I intend to own and keep in the family for generations.  I hope to have that paid off in about 10 years, savings about 100K in interest.  Overall, I am not yet cash flow positive except on the 3 without mortgages, just one more reason I prefer cash.  BTW, these are in Pittsburgh, PA, where you can (or could 2-3 years ago) buy a house in ok condition for under 20K.  The 2 with mortgages are multi-units (triplexs) and around $100K to purchase.\n\nBest of Luck
175606
as much as you can! you should get a pension asap, compamny schemes are good as the company puts in aswell. see your financial advisor asap
323383
I would suggest you get financial advice from a bank or other lending company .  if you think people are gonna give you money ,  your nuts
254348
unless you are planning on living in a cardboard box, or are filthy rich, you better be saving!!! minimum to set aside is 10% of your income, but that is bare bones minimum. don't count on the government of any country to help you, and if they do, it will be subsistance level only, don't expect to be warm and well fed. you have only yourselves to count on. I certainly hope your children will take care of you, but that mostly depends on how you raise them. are you raising them to believe that family is important, and that old people are to be respected and honored? are you raising them to be responsible adults and to have respect for others and themselves? even so, they could have tragedies in their own lives that prevent them from being there. and when you consider that people are living longer than ever, how do you think you are going to pay for your food, housing, medicine for all those years after retirement if you don't have some set aside? I bet if you go into a senior center or retirement home in any country, you will find plenty of people going without medicine, food, and other important things because their social security or government benefits just aren't enough. contact a financial advisor or do some research yourself and start saving and investing now.
56706
it sounds like a good old fashioned family that sticks together. the only negative might be that it does not teach financial independence of the young family members.\n\nmaybe you could suggest that you keep a portion, maybe 10% in a seperate fund so you could learn how to use money.
599696
You need a private lender.  Explain your situation to them and hopefully one will be willing to take on the risk.  It will help a lot if you have a steady long term job.   Private Lenders charge more interest than banks and some of them do show up on credit search - make sure yours doesn't.  In Canada they advertise in major newspapers under the category, "Money to Lend."  We got our house this way and it worked great.  Good luck with the dream home!
666894
First and foremost you have to think about what's best for your family.  If making more money, living in a better area, having a more secure future is on the table, take it.  I did it and it's been wonderful.  My children are in better schools and we will be able to send them to college now.  My family comes to visit on holidays or we go visit them.  Long distance phone calls are basically free now and the internet keeps us all in touch.   It's not hard to make new friends and it sure is nice to leave old baggage behind and start fresh.
77450
Speak to a lawyer for some good & impartial advice.  Immigration & real estate are two areas of your life where you really cannot afford to be ill informed, or act on wrong information. With regard to the loan, my suggestion is that you'll pay less interest in the US- but US lenders will be wary of lending to anyone buying outside of the States. Suerte!
551157
First, how is your credit?  It's more a credit issue than an age issue.  Second, how is your employment history? With today's economy, that's a really important issue.  \n\nFrom my experience, as a second time house buyer, I was certain I would not qualify for a mortgage at great rates.  Since I hadn't bought a house in 10 years, I was recently divorced, making very little money, I knew nobody in their right mind would want to finance me.  I figured, as much as I hated the thought of renting, it may be the better option of the two (I was currently living with my parents with my two children).I had called about a rental, knowing it was out of my range, but I was desperate.  It so happened that I was talking to a real estate agent.  She ran my credit report, showing a 797, 802 and 809.  She said with that, I had no worries.  So, together we found a home and I have been here since June of 2005.  \n\nWords of advice, be sure your taxes and insurance are included in your monthly payment.  \n\nGo for it - you sound like a 20 yr. old with a head on your shoulders and are ready for the homeowner responsibility.  Do your research and be sure you are prepared financially.  Good luck!!
561532
avoid any borrowing! if you cant afford it you may not need it! try it, interest is dead money
346665
if the money is right you should go for it. Since they want you so bad ask for more money, COLA(Cost of living allowance), and retirement benefits.
266922
I wish that all of us single parents could team up and help each other out... a single parent watches another single parents kids while they work, vice versa... single parents that carpool... single parents buying food in bulk and splitting between the families... even living in the same households if possible... \n\nIf only I ran the world... but since I don't, I can only provide this suggestion that I provided to another person on these Yahoo! answers:\n\nIt would be a wise idea to do a credit check on yourself first to clear up any concerns before hand. Law states that you are allowed one free credit check per year by the three major credit entities --> Equifax http://www.equifax.com Experian http://www.experian.com & Transunion http://www.transunion.com\n\nGive yourself one to two months after clearing up any "questionable" items on your report, if you needed to in the first place. Then go in for the loan.\n\nI would go to your bank to inquire about a personal loan first... but they may have a cap on what you can borrow (for example, $4000 and looks like you're needing up to $7500).\n\nCitifinancial may have a local branch in your area (check them out and see if there is one near you --> http://www.switchboard.com\n\nJust walk in with a copy of your latest paystub, a list of all your monthly debts and what you owe. If you don't have a branch near you, then call them or visit their websites:\n\nCitifinancial http://www.citifinancial.com\n\nBeneficial is another place... very similar to Citifinancial.\nBeneficial http://www.beneficial.com\n\nGood luck! :)