Roughly 465TC (but have only recently started making this decent TC). Not much saved for retirement, yet, but now maxing out 401k, HSA, and Mega Backdoor Roth ($60k/yr). Saving another $5-10k in RSU/mo. 45yo. Renting a small home because the Bay Area prices are insane: it requires several 100k just for the down payment, which I won’t have for years. What I am wondering is — are there any happy success stories of people who are making it towards retirement, as renters, without owning any property?
Which company are u at now ? What’s your tc breakdown There should apparently be no guilt in renting , as long as you don’t want to stay in the bay for long and want to get into housing , as it comes with a lot of things including property taxes and very high costs of down payment
227 base. The rest bonus and RSUs.
Own a property in a pleasant affordable area and have the rent pay it off. 50-80k down is enough
You mean as an investment property? Perhaps.
Yea. By the time you retire it would be paid off and you could move if you need to.
Just save as much as possible and retire in low col area. With that TC youre golden.
Hmm that TC seems a bit low if you want to buy a house. Any chance you could bump that up a bit?
Lol stfu
Lol I like your dry sarcasm
Most people buy a house to live there, not because it’s a good investment. If you’re happy renting, you will be completely fine when it comes to retirement
Who is making you feel bad about it?
I have similar TC and really feel good about renting
Owning is a lot of expenses. Especially in the Bay Area. Save as much as you can, then move to a lower col area.
Whatever happened with people wanting to be / stay where they grew roots?
Personally I'd love to hear more about that Mega Backdoor Roth
Yep
Property is your biggest asset. Why not get a studio or 1 bedroom
3-person family