Saving for a Home vs. Retirement: Which Should You Prioritize?

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Should I save up for a home or save for retirement? This is a question we get all the time! It’s one of the hardest financial priorities to balance, especially now. However, we believe there are ways to balance the two in a way that lets you achieve your life goals and keep your finances on the right track.
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Опубликовано:

23 авг 2024

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Комментарии : 6

@SweetPotata10 Месяц назад

What I ask myself is - what is my interest rate? If it’s low, then what is my goal expediting to pay off my house? I plan on semi-retiring in 5 years, so I align my pay off date to that and plan to use the equity to downgrade for a smaller house in cash in 5 years. Once I set that date target, I work backwards to figure out what I need to do that plus keep contributing something to my retirement/investments.

@BiggMo Месяц назад

(Brian’s Troll here) this is a regional question… I work for a high-end production home builder (250 a year) and many of our buyers are from California. They sold their home there, with enough to pay cash for a new home here in the PNW with a million left to fund retirement. So yes… a home “can be”’part of your retirement plan “if” your goals include downsizing and relocating.

@glasshalffull2930 Месяц назад

I cut my 401K contributions back, but always kept it at the level to get all the matching employer contributions. I was lucky that every time my employer transferred me, I made a hefty profit on the sale. Pure luck on my part.