• How to Balance a Home Purchase with Saving for Retirement?

  • Feb 22 2023
  • Length: 15 mins
  • Podcast
How to Balance a Home Purchase with Saving for Retirement? By cover art

How to Balance a Home Purchase with Saving for Retirement?

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  • Summary

  • Scott and James discuss how to balance a home purchase with saving for retirement.

    Listener Question:

    We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A comparable condo would sell around $1.3-$1.5m. That would put the mortgage at around $7,000 with another $2,000-$3,000 in maintainable and taxes a month. Rent does keep increasing and I don’t want to keep getting squeezed but does buying in Manhattan just not make sense?

    Planning Points Discussed

    • Utilizing Time Efficiently
    • Capital Appreciation
    • Purchasing Power
    • Other issues (IRAs, Inflation, Financial Goals, etc.)

    Timestamps:

    2:30 - Priorities

    5:25 - Various Goals

    8:12 - Life & Math Don't Always Match

    11:15 - Investment Concerns

    12:30 - How Much Home Can You Afford?

    16:05 - Aligning Your Financial Goals

    LET'S CONNECT!

    James

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    Scott

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