15 min
How to Balance a Home Purchase with Saving for Retirement? Real Personal Finance
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- Investing
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 EfficientlyCapital AppreciationPurchasing PowerOther 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
YouTube LinkedIn Website
Scott
Facebook Twitter Website
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 EfficientlyCapital AppreciationPurchasing PowerOther 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
YouTube LinkedIn Website
Scott
Facebook Twitter Website
15 min