It’s officially spring break here at Rutgers. I plan to relax this time and not stress myself out like winter break.
It’s also time for lots of students to plan out their housing situation for next year. As for me, I’ll be living in a house with a few good friends. Turns out it’s a lot cheaper than dorming and a lot more room :).
To be honest, I live 15 minutes away from college so I could have commuted. However, I felt that the intangible assets I would have gained from living on campus were worth greater than the monetary assets I would lose.
Now since I’m practically paying for college on my own from here on out, I’ve got a little thinking to do. Here’s the plan:
Originally I was going to work the entire summer to save up for $6000 worth of rent.
Now I feel it’d be a better idea to get a private college loan for the house and work the entire summer to invest in a particular stock that I absolutely want to invest in. This stock is one I’ve kept my eye on for a very long time and I predict at least a 100% return. I know some of you are shouting “what is this crazy kid thinking” in front of your screens. Well yeah, I wasn’t going to refute that.
So say I earn $5000 over the summer. 100% return on that over say 5 years yields my rent practically being paid for on it’s own. I start paying off my loan after college probably from some other means (not a job, hopefully), or if it comes down to it by selling the stock if it has already achieved enough of a return. The loan will be at close to 8% so it shouldn’t cut into the return too much on the stock.