I have about 3k in my checking account, 30k in stock/liquid investment, property value (combined) is about 1.2M but I’m also in mortgage (about 950k). Is my investment method risky? Lately I’m thinking about opening a bar.

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Posting as :
works at
You are currently posting as works at

With what money will you use to open the bar? Sell the house and live above it?

likefunny

Opening a bar in a pandemic is really not wise. Bars are tough propositions in good times. Talk to someone who owns a bar first if you haven’t.

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Yes


Seems like you could face a major cash crunch trying to afford that mortgage the next time Big Daddy D decides to cut a few more loose.

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Yes to risky, no to opening a bar because you literally don’t have any cash to invest into one.

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OP got 15 days of living expenses in savings and wants to take out hundreds of thousands in debt to open a bar.

LOLSAUCE

likefunny

Too small of a safety net to start. What is your income?

like

you didn’t really tell us anything about your actual investments other than “stock/liquid” and RE, and you’re 80% RE which is high but normal if you’ve just put down a down payment

Ok, so net worth is 1.2+33k-950k= $283k, and of that, 13% is cash/liquid and 87% is home equity.

I am assuming that you have retirement savings that are not reflected here.

Either way, you can’t afford to open a bar. Your $30k in savings is little more than an emergency fund. You’d need to take on even more leverage to finance starting the business, and then if it went under, you’d have some serious problems.

You’ll use up your entire $30k to get a liquor license.. if u already have a $ free space to open a bar, go for it then

This is the post of the month!
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