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I Bought A Condo—And Learned A Valuable Lesson

June 19, 2014
by Michelle Perry Higgins

by Michelle Perry Higgins

Start Shopping for Long-Term-Care Insurance at 45What’s the smartest–and dumbest–purchase I ever made?  Hands down the smartest purchase I ever made was my first condo in the San Francisco Bay Area a few years out of college. At the time, it felt like an enormous down payment and the mortgage payments seemed huge. However, the investment gain was well worth the sacrifices I made within my budget to afford the home. The lesson I learned from this purchase is that in order to prosper long term, we sometimes have to swallow our fear and take the plunge, assuming that we have done our homework.

The dumbest purchase I made was an expensive exercise machine that I never used and is taking up space in the garage. In this case, it would have been wiser to join a health club first to test the equipment and my long-term resolve to use it.