I really want to buy a house and I have the target. But I need 50k more for down payment, 50k for closing cost and emergency fund. I lost 45k on stock market last year, gave totally 90k to parents and ex wife. Now I feel I’m cash strapped. It sucks. This is the first time I feel poor. Cash is really important. TC 180k NW 150k cash + 140k pension
Yes. I don’t care so much about money until want to buy a house
Don't rush to buy a house until you have a sizable emergency fund. The Fed just announced three rate cuts are likely later this year. Wait until interest rates are near 5%.
Down from 6 right? Rates aren’t going anywhere inflation is up consistently again.
Rates are closer to 7% right now. I don't think rates will drop below 5% for a long time and will take two years to get there, if inflation remains where it is now.
Was there a few years ago. Give it some more time and you will make up some ground.
Move to a job with higher TC and sign-on bonus. Eg. Amazon
Look at HELOC. Also, there are some credit cards with 100k limit.
If it’s your first home … take loan against your 401K.
You can take loan even if it is not a first home
If it’s first time, try FHA.
Vegas
Start long term planning, build up something, stop giving away money for free and stop doing high-risk transactions - whether or not based on FOMO. Then buy a house.
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