Hey guys,
Very recently I have sold my business which I built up from scratch and am now left with $800k cash in my account to invest.
I am currently in a position where I am un-employed due to selling my business but am seeking part time employment currently whilst finishing off my University studies for a change of career path. I have no debts, living rent free and have no other investments currently at 30yrs old.
I feel I timed selling my business at a bad time given the extremely HOT Sydney market, as my intentions were to get my profits from the business and buy a house in Sydney for investment purposes.
With savings accounts only paying 3% per year it's making me want to invest (I guess the RBA is getting what they want).
My questions are;
1. Should I potentially wait 2-3 years for things to cool down and hopefully pay less? As I currently am amazed at the prices people are paying which makes me think they might come down.
2. If you were in my position what would you do?
Thank you for any advice in advance!
Very recently I have sold my business which I built up from scratch and am now left with $800k cash in my account to invest.
I am currently in a position where I am un-employed due to selling my business but am seeking part time employment currently whilst finishing off my University studies for a change of career path. I have no debts, living rent free and have no other investments currently at 30yrs old.
I feel I timed selling my business at a bad time given the extremely HOT Sydney market, as my intentions were to get my profits from the business and buy a house in Sydney for investment purposes.
With savings accounts only paying 3% per year it's making me want to invest (I guess the RBA is getting what they want).
My questions are;
1. Should I potentially wait 2-3 years for things to cool down and hopefully pay less? As I currently am amazed at the prices people are paying which makes me think they might come down.
2. If you were in my position what would you do?
Thank you for any advice in advance!