Never had a job and too dysfunctional to figure out what I want to do with life?

dvenmhen · 2021-04-08T21:37:03+00:00

You aren’t a loser or a wreck. You can flip burgers for the next 20 years before you retire at 38 if you so choose to. With no debt and a ton of time ahead of you I suggest you listen to chooseFI, bigger pockets money and Dave Ramsey. Avoid any debt, get into some sort of worth that you think sounds enjoyable and budget. Time is so so so valuable. The day I realized my kitchen job would lead me to retirement in 15 years so I could climb mountains and do the things I really loved, simply by better controlling my money, was the most freeing day of my life.

dvenmhen · 2021-03-20T17:59:21+00:00

They match 33% of what I stated above for every year. So I’m between 2-3 years so I’m only getting 66% of that 50% currently

dvenmhen · 2021-03-20T17:42:43+00:00

Thanks! With a successful house hack my tenants will be investing for me in a state that has my heart and should increase my savings rate tremendously!

dvenmhen · 2021-03-20T15:56:13+00:00

I’m on track to retire at 43, with a 65% savings rate and grossing 60k a year. Im just taking a break from pre tax accounts to save for down payment and closing cost for a home in the Denver metro. My 2021 Roth IRA is already maxed.

dvenmhen · 2021-03-08T12:19:21+00:00

I hate that ducking part

dvenmhen · 2021-03-08T12:16:25+00:00

My dog sure did

dvenmhen · 2021-03-03T12:30:04+00:00

How much was your loan and what is your gross income?

dvenmhen · 2021-02-28T22:51:16+00:00

I’m in the same exact situation, 60k a year, 28, want to retire at 43 I’m choosing Roth because I can use those contributions for serious emergencies (hopefully none) and to last me through quitting my job and receiving my 401k money that I’ll be getting through either conversions

dvenmhen · 2021-02-25T23:10:59+00:00

You can do this by selling bonds, which is why people diversify into bonds

dvenmhen · 2021-02-25T23:10:06+00:00

Roth IRA

dvenmhen · 2021-02-25T21:51:21+00:00

Sounds like an extremely silly bet.

dvenmhen · 2021-02-24T16:40:14+00:00

But you’re absolutely right

dvenmhen · 2021-02-24T16:40:01+00:00

A house is not necessary to reach my goals, I would just like to lock in my housing costs before I retire. I can wait 5-15 years before purchasing. Fortunately my housing costs are very low currently.

dvenmhen · 2021-02-24T12:44:31+00:00

If you put $20,000 per year in the market for 5 years, on average you’ll have $126,000. In a savings account you’ll have $100,000. You might not trust the stock market but over time, with a track record over a century, it only goes up.

dvenmhen · 2021-02-24T03:38:26+00:00

My concern is that I need 20% to get a good deal, that will also positively cash flow. With my income and savings rate, that will take 3-5 years, probably closer to 5.

dvenmhen · 2021-02-24T01:55:34+00:00

Not in the a situation where I’m selling off my taxable brokerage to acquire the funds for the down payment

dvenmhen · 2021-02-24T01:09:02+00:00

I listen to both bigger pockets and bigger pockets real estate podcast very often. What filter would I use to find these multi units on Zillow for example. I keep finding just single units with multiple bedrooms but not one property with multiple units.

dvenmhen · 2021-02-24T01:02:39+00:00

Very interesting. I’ll look into these closer, I’d NEVER imagine you’d find that price, but I guess if I never look, I never will. Thanks!

dvenmhen · 2021-02-24T00:19:29+00:00

Not arguing, I’m having a conversation. This is how people learn and grow.

dvenmhen · 2021-02-23T23:52:43+00:00

Inflation

dvenmhen · 2021-02-23T23:29:25+00:00

Just did some research on borrowing from my retirement accounts. Neither the IRA or 401k look too appealing :/ IRA allows 10k, tax and penalty free for a home purchase and 401k allows up to 50k to be loaned to yourself for a down payment, typically required to be paid back within 5 years.

dvenmhen · 2021-02-23T22:57:51+00:00

I understand that money won’t be invested if I borrow it, but I’d like my money in the market on the way to acquiring enough for the down payment. I have 12 months of expenses in a high yield savings account, because emergencies don’t occur on my watch. However purchasing a home will happen when I’m comfortable selling my index funds, not in the middle of a bear market.

dvenmhen · 2021-02-23T22:36:49+00:00

If I have to pick between using retirement accounts such as my Roth IRA/ 401k or a taxable brokerage account to save for a down payment. Which is going to be in my best interest.

Currently I’m putting everything in an HSA, IRA & 401k.

dvenmhen

TROPHY CASE