Should I Save for a Home or for Retirement?
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- Опубліковано 10 жов 2024
- Subscriber Q&A. I'm a potential first time property buyer, trying to save up for my first property or house.
I am also putting away money into retirement accounts as well, since I am behind.
Given the uncertainty of the current housing market, I wanted to know if you think it is better to pause retirement saving, and save all money for a home down payment, or continue putting money away into retirement and other investments.
Wow! Thanks the video response sir. Will check it out shortly.
Subscribed to the channel, but let me know if there’s anything else I can do to repay the favor.
Enjoy your weekend Craig!
Thanks for following. Just be the best man you can be. That's what the world needs
Fire place lit in August? I bet home prices are reasonable in that area!
@@DarrenMossman haha. You would think. But no, lakeshore is still expensive.
Good job
Thanks
Good question, I would be interested to know the age, income, and debts of the person.
I think ultimately people are just going to have to start relocating completely if they want to own property. Move to the midwest, it's way cheaper out here.
I am also very interested in your take on the current communist trend in the America. I worry that in 25 years, when all the millennials my age have no savings, they'll quickly vote in confiscation of everyone who DID save 401ks and IRAs in the name of them paying "their fair share."
Being able to relocate is a lot easier today with ability to earn online and telecommute. It is scary to think about what could happen with communism on the rise. One reason I am doing this channel is to try to share what I have learned and help others, try to make it easier for the younger guys coming up than it was for me and guys my age. I try not to focus on the worst case, I try to have faith and hope that good will win in the end. WW2, victory was not certain in fact it looked like all was lost.. It appears we are in the 4th Turning and things will get probably get rougher before they get better.
@@raymond_sycamore
Age = 32
Income (gross) = 110K
Debt = 0
Currently renting room for $700 in Virginia. (Going up to $1000 next year though, which is honestly what sparked my question in the first place). Don’t want to be a renter forever, and would like my own small place in the near future, even if it’s just a studio apartment. Obviously, Trying to do this in a smart way though.
Grew up in a lower income family and just now getting into middle class. I have a very frugal and risk adverse mindset about investing, so trying to take it slow getting into real estate, because of all the horror stories I’ve heard.
Just trying to figure out the best path forward like everyone else, so staying open minded as much as possible right now.
@@raymond_sycamore Im 32, 110K (gross). No debt. Currently in the DMV, renting for $700. Next year rent is raising to 1000, which is what sparked my question in the first place. Not trying to be a renter forever, but cautious about getting into real estate because of all the horror stories I’ve heard.
I was thinking about moving to Tennessee, West Virginia, or North Carolina. But think I may need to travel, to see the rest of country and figure out if there’s anywhere else I’d enjoy living. Also trying to find a job that would let me work remote is one of my goals. That would make it much easier to relocate at will. Currently in IT, but Accounting is very plausible as a career shift, if it comes to that.
TL;DR, I definitely got homework to do, but I am thankful for the advice of people wiser than me.
@@WizdaVision real estate is a 50/50 gamble, honestly. I wouldn’t have bought either of the properties I now own in hindsight.
Now I can’t sell one, nobody wants it, and the other is just adequate but I definitely paid too much. Plus the loan is killing me. Only $90k and $751 a month but still too much for what I got. It’s a greater fool market, honestly.
The only reason I’m still in Ohio is my parents live here. I’m 35, but really only started my life at 32 when I got sober and got out of debt. I really struggling with the comparison game.
If you’re outgoing enough to make travel gratifying, then do it. Otherwise your life gets real lonely real fast. I wouldn’t leave where you are if you have any friends, at all. I have ZERO, and I mean ZERO social connections (and I grew up here) and it’s killing me. I don’t know why I wake up most days
@@WizdaVisionSome reconnaissance is probably in order.