I was wondering if you think we can afford to buy a lake house. The house we're looking at costs $1 million. I bring home about $15,000 a month, and we have no debt. I started saving and investing when I was 18, and right now my wife and I have about $4 million sitting in our savings account. Even though we both love the water, part of me thinks we should just rent one for a few weeks a year.
Dude, you are a classic! You have done an absolutely PHENOMENAL job with your money!
Generally speaking, lakefront property is a great investment. Plus, if you buy instead of rent, it's YOUR investment and you get to leave your clothes in the closet!
If I'm you, I'm buying that house before the week is up! I own a lake house, and I can tell you it's one of the best investments I've ever made - money-wise and relaxation-wise. Do the deal, Mike. You guys have earned it!