Should I Invest in an IRA or Save for a House?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 24 June 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Scott is up next in Seattle.
0:25.0	Hi Scott, how are you?
0:27.0	Good, how are you guys doing?
0:28.0	Better than we deserve.
0:29.0	What's up?
0:30.0	Good to hear.
0:31.0	I'm calling to get some advice on making a first home purchase. My fiance and
0:36.8	I are getting married later this year. Yay. And we'd like, yeah, thank you. And we'd like to get into a house ideally within the next two years.
0:46.4	We have no debts and we think we could save up about 50% of the down payment for the house in that time frame.
0:55.0	Good for you.
0:57.0	Thank you, we appreciate it.
0:59.0	That being said, we've heard some advice that putting that amount of cash toward the house
1:04.8	doesn't make like a hundred percent sense and sometimes in some situations it can
1:12.2	better be put towards investments if the interest rate
1:15.7	or the mortgage is pretty good that would be advice from broke people who don't
1:20.7	know what the flip they're talking about.
1:23.0	Well, that makes it pretty clear.
1:25.0	I would 100% do this with my family in my home.
1:29.0	If I were you, I would do exactly what you're talking about doing.
1:32.0	And let me back that mouth up, okay? We did the largest
	...

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