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Possible_Late OP t1_jeaoqfs wrote

Reply to comment by sir_richard_head in Got out of a hole now what by Possible_Late

Thank you I will definitely look into this!

Just want to make sure I understand what you are saying about saving for down payment and investing in a 401k: first save for the down payment then invest what I can in my 401k?

And yea I have no clue what I want so i figured not worrying about money is a good place to start.

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CeruleanSaga t1_jeatyjd wrote

It depends on how aggressively you want to save for a home.

But maxing out retirement early means you have more years of compounded growth. The earlier money gets in there, the more time it has to grow. Just 10 years makes a huge, huge difference for retirement. Getting as much in now - before you have to spend money maintaining a house (and if you want kids in your future, etc) will pay off hugely long term.

It seems to me that you have enough to max 401k, max IRA and save for a house at a pretty good pace. But you'll have to decide the split there.

WRT market - buying at a discount is a good idea, the market being down is good news for a long/mid term outlook.

Again, how much to put in the market depends on your time horizon. If you think you will be buying a house later than 5 years, I'd say put your money there. If less than 5 years, go with HYSA and maybe bonds. (I bonds are still doing quite well but you can only buy $10k per year and other caveats that have been mentioned on this sub many times in the past.)

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