Im wanting to buy another IP with the money I have put away and reach financial freedom faster [dont want to buy in another year or two because prices will have inflated and I'll be paying much more]
I need a new car but cant bear to buy a depreciating asset, does anyone else feel the same way?
It's called actually thinking about the financial consequences of your actions. A rare skill that most people never learn. Congratulate yourself for learning it so young.
I'd advise buying a cheap car that retains a decent amount of value. Get a small one that has a good warranty, maybe a second hand car that's 2-3 years old? Most care depreciate fastest in the first couple of years so if you buy one that's a couple of years old, you would have avoided most of it.
Other than that, I can only tell you to keep at it. At your age, because of how your peers think, you're going to feel very isolated thinking about money and investments. I can honestly tell you (having gone through that myself, and being 30 now) it's WORTH it.
From your late 20s onwards everyone is going to be complaining about how hard it is to pay for a mortgage, have kids, schooling, etc. The memories of fast cars and drunken nights will be forgotten in the sobering reality of PPOR mortgages, one spouse not working for a time because of kids and worry about how you can afford to raise the kids, pay the mortgage and eat at the same time.
Meanwhile, you're going to be have a LOT more choices because you've been diligently building your wealth. The 'I want to do this while I'm young' thing only lasts about 10 years for most people. Often they then spend the next 50+ years in constant financial worry. I'd rather cut down the revelry in my 20s and not have to worry for the rest of my life.
Incidentally, talking about property at 20 makes you a boring geek. Saying you own a kicky investment portfolio at 30 makes you VERY popular, not least when you're trying to attract women. (Not saying women go for money only, of course, but financial stability is a MUCH more important trait starting from your mid-late 20s when it comes to relationships. Many of my female friends say they're worried about their financial future, even though they think their partners are great in terms of personality.)
Don't cave in to the judgements of your peers now. If you have to, think about their opinions in the future. You're only young once, but there's a VERY long road after that.
Alex