"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

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 8 April 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ 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! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

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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