To Save 2,000,000.00 Pesos and Buy a Beach Lot or Not?

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Avatar for Eirolfeam2
9 months ago

I posted this in some of the Financial Groups I'm always counting on when it comes to my finances and since it's been a while since I came around here on read.cash, I think it's nice to also read some of your thoughts.


Hello there! I posted here before regarding reaching my first million pesos, and now, I'm here again to solicit outside opinions, advice, and perhaps some validation na rin about my plans and future actions.

For a quick background, I'm 23F, working as a Freelance Content Writer. I'm earning around ₱150K to ₱200K per month, depending on how eager I am to earn more. I also usually work 50-70 hours a week with these earnings.

My ultimate goal is to FIRE at 30 to 35 years old with ₱10 to ₱15 Million as my Lean FIRE number.

For the last 6 months, I have noted down my monthly expenses and it's only averaging ₱25,000 per month. I'm living with my parents, so my expenses are just the food, monthly bills, allowance for my parents, and eating out here and there.

At the moment, this is my financial breakdown:
Emergency Fund- ₱250,000.00
Savings- ₱500,000.00
Retirement Fund- ₱500,000.00
Farmland (sangla)- ₱120,000.00
Crypto Investment- ₱150,000.00 (from $25,000 but suffered from the bear market and dove down with SOL)
Piggery business- ₱100,000.00
Total Net Worth= ₱1,620,000.00

This year, I'm aiming to save 2,000,000 pesos in cold cash, and after that, I'm thinking of buying land by the beach, which is around 300,000 pesos for 100m². Hopefully, I get to achieve both by December, when I turn 24 years old.

I don't know if I'm aiming too much but considering that I managed to save 1 million pesos in 6 months, I think it's feasible naman.

However, my dilemma is that I'm thinking if I should aim for my FIRE number target first or if I should buy that land na. I plan to build a beach house there (pag-iipunan ulit after mabili ung lupa) and rent it out as a homestay/BnB, since touristic ang place namin. But what's stopping me from this is the thinking that it might not be worth it or it will just end up as a waste of money. Or I'm just too negative?

PS. I don't plan on getting married (it's a lifetime imprisonment) and having kids so the beach house will also serve as my retirement home when I get old although this might change if I find someone. Lol

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$ 0.09
$ 0.09 from @TheRandomRewarder
Avatar for Eirolfeam2
9 months ago

Comments

good investment ang land.. magastos lang yan sa una pero later on kikita kana.. basta pang one night or two nights stay keri yan..

Galing mo talaga lodi ko ito pagdating sa side hustle..😊Sana all magkaroon ng 1M plus in just 6 months.. 😊Galing talaga

$ 0.00
9 months ago

Whoooa anong genius meron dito 🤭, sipag, diskarte at tyaga sana all. Ikaw nga yan! May farmland pa. Share na mga success stories sa vlogging lol. International company inaplayan mo? Pwede pla kumita nyan sa writing at kahit andito sa Pinas... 👏

$ 0.00
9 months ago

I knew it, saw it on that group and ikaw agad naisip kong nag post nyan ehe.

Anyways, tingin ko need mo pa ng maraming opinion base dun sa may mga experience regarding this para matimbang mo if ano ba ang mas better choice. Sa huli desisyon mo pa rin masusunod so, good luck sa decision making. Wala akong maisagot coz diko din alam in ba ang mas better dyan ( ꈍᴗꈍ)

$ 0.01
9 months ago

Nakilala pa ako eh naka-anonymous post ko dun eh. 😂 Gusto ko talaga ng beach house pero ewan ko ba bakit ako nagdadalawang isip. 🤧

$ 0.00
9 months ago

it is better to save money and time as well and invest it in a good way the best that could

$ 0.01
9 months ago

Galing mo talaga..from 1M to 2M.. How to be you po? Hehe... Bili na ng lupa sa may beach habang mura pa ang price..kasi mamahal yan habang tumagal....congrats sa achievements mo.. Btw nagwork knb after graduation, or sa freelancing lang focus? Binenta mo lahat BCH mo?

$ 0.01
9 months ago

Plano ko talaga bilhin. Sana lang available pa siya pag nabuo ko na ung 2M. 😂 Wala na akong BCH. At yes, nagwork agad ako as full-time content writer after graduation.

$ 0.00
9 months ago

I mean work sa company jan sa pinas? Sayang, tumataas na naman BCH.. Magkano ba yung lupa?
Kung malaki naman return in the future jan sa investment mo sa lupa, gora na .

$ 0.00
9 months ago

No. I started working full-time as a content writer since it's where I earn 6 figures a month. Nasa 300K ung lupa.

$ 0.00
9 months ago

Yung goal kung 100k butal lang sayo, grabi ka.. idol talaga pagdating sa hustles! 👏 Anyway, investment din yung lupa Florie.. tataas ang value in the long run..kaya for me go kana don. Or pwedi din you complete the 2M before buying the land..madali lang naman sayo yan. Congratulations 👏🎉

$ 0.01
9 months ago

Un nga naisip ko kasi maganda din location ng lupa at ayos talaga pag patayuan ng homestay or airBnB para sa mga turista. Kaso nagdadoubt lang ako sa magagastos pero maganda talaga for long-term goal. 😂 Thank you. Sana nga madali lang eh. Lol! Good luck sa goal mo din!

$ 0.00
9 months ago

Oo nga maganda yan, e go mo na kasi kung next next year mo pa bibilhin mas tataas na rate nyan.. tama yung idea mo. Money maker pa naman mga paupahan..magastos lang yan sa una, sabi mo maganda naman location goods na goods yan.

$ 0.00
9 months ago

Go for it! Depends pa rin sa place tho and sa pag market mo ng place if ipaparent mo na sya. Tumataas na ang value ng lot, it's best to buy asap.

$ 0.01
9 months ago

I'm really planning and medyo okay din ung place nung lupa. Actually 2021 ko pa siya plinaplano nung nag-$1.5K ang BCH, pero di ko magawa-gawa. Hopefully, by December, talagang mabili ko na. 😅

$ 0.00
9 months ago