10 years from retirement, hopefully
Background: I have not done a good job of taking care of myself financially althougth I'm better of than a lot of people I'm sure. If I manage to retire at 60 it will be at a very basic level of existance (buy a tiny house somewhere and hunker down). My major retirement piece is a partially matched 401K. I have contributed well, certainly above matching, but have not done well in moving things around between the various funds so there hasn't been much growth, or maybe there's been growth but also lots of losses? and while I have not crunched the numbers it has not done well at all.
Here's my current decision dilemma. Hoping to sell my new, been in less than 2 years, current house and relocate to a different state. (Market is problematic and I will lose money on the sale especially after realtor costs.)
But I had a lot of cash in the place and will get a fair bit back (say 100,000).
Do I buy - in a rust belt midwest city (not Detroit but extremely similar with perhaps even less future)where appreciation is low normally and probably terrible the next 10 years (I expect a recession and am worried about layoffs where I am going to work).
Or do I rent and invest it? I would be paying taxes out the nose.
Or do I buy something very small and pay cash.
Or do I buy something, small or not, do a small downpayment, get the tax break on the mortgage and invest the rest?
I have no idea.