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My advice is to take ARKK off the list of funds you are investing in.
If you want crypto, actually buy crypto. If you want someone that looks at highly overpriced companies and tries to convince you they are in deep value territory, buy ARKK.
I have a similar background to you when I started my career; now I'm just just 5-10 years older. Man, I guess I'm getting old enough to get nostalgic. Forgive the ramblings of an old person below 😂.
Looking back, the best things I did in those early years in terms of personal finance were buying a house and maxing the employer contributions to 401k. Those two things gave me a strong foundation financially and a lot of flexibility to respond to a changing economic environment. The best thing in life that I did during those early years was marrying my best friend. Combining those 3 things provided a lot of stability and happiness.
I grant you that today's economic environment is much more difficult to predict in terms of financial markets, and I acknowledge that I got super lucky with the environment in which I started my career. My advice is to focus on the foundation and think in terms of decades with investments. Do enough research in broad economic theories and studying history (I've personally found studying the Fed in the context of the past 70ish years is a good way to try and understand Keynesian economics, and simple internet/YouTube searches are beneficial to understand Austrian economics). Understanding those principles has led to a strong base that allows for excellent flexibility and humility.
May I ask how did you get 130k base at 23 for EY? Are you a lawyer?
Kudos to you!
Make sure you have/or set aside plenty of cash around so you can comfortably let those investments ride for at least the next 10 years
Chief
New Car inventory is expected to remain tight for 12 to 24 months.
Since rent is often transacted on 12 month leases, it often lags home prices by 6 to 9 months. What drives a drop in rent is vacancy due to an oversupply of units. If home prices start to dip due to increased supply (which I don’t expect to happen for awhile), and a lot of former renters start buying homes at a rate that creates a ton of vacancy that there isn’t demand for, only then will rent decline. Housing inventory has been short for 10+ years now, which finally hit a boiling point during COVID when people wanted more space since they were working from home alongside their kids who were learning from home. That demand for more space has kept pricing high, and even with rising interest rates, the pent up demand is still there and may keep housing prices higher for many months.
Long story short - this situation may take years to unwind.
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Get a car - you make good money for your age especially w no expenses being at home
Advice for the near term is to stop with ARKK. And with 130k in LCOL, you absolutely have disposable income. At some point, it’s going to be time to move out, I would start assessing what that budget might be and start setting that aside each month so you’re not shocked at the change.