"Should I GIVE UP Trying to Buy a House?"
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.6 • 2.8K Ratings
🗓️ 8 April 2024
⏱️ 23 minutes
🧾️ Download transcript
Summary
"I'm 32, school counselor, make approx. 65K. Homes here are around 400-500K. Does it even make sense to try to save for a down payment? Scared I couldn't cover house emergencies"
We'll walk you through that question and more in today's Q&A episode!
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Transcript
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| 0:00.0 | Well, this next one is from Talls. |
| 0:07.0 | Well, this next one is from Talls. |
| 0:10.0 | Talls. |
| 0:11.0 | Mm-hmm. |
| 0:12.0 | Cool, have you thought about that now? You're killing me, Talls. Cool, have you thought about that now? |
| 0:14.0 | You're killing me Talls, that's what I came up with. |
| 0:17.0 | Awesome. |
| 0:18.0 | Well, Talls asks, is it okay to not do your company's 401k if there's no match and just invest that money in a |
| 0:26.6 | brokerage and max out your Roth IRA. I'm 27 making 150 15K with bonus. |
| 0:33.0 | 27. 115K with bonus. |
| 0:36.0 | All right, I'm gonna, here's what you do because I don't have this memorize. |
| 0:40.0 | I believe there's like a little tax cheat cheat sheet in there. |
| 0:42.6 | Is there? |
| 0:43.6 | I don't know if there is. |
| 0:43.9 | If there is, will you turn it to me and just kind of put it here |
| 0:45.9 | so I can cheat? |
| 0:46.9 | The team was just saying, I don't think Ryan ever uses this |
| 0:50.5 | and now you're using it. |
| 0:51.9 | So we get this question all the time. is this |
| 0:53.7 | and now you're using it. So we get this question all the time, hey my 401k is not great and |
| 0:56.4 | we've told you guys before not all 401k is created equal. Some of them low |
| 1:01.8 | diversification, they don't have a ton of investment options. |
... |
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