Reply to $115k salary, $55k in savings - looking for life advice and wisdom from long-time DC dwellers

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[quote=Anonymous]Long time lurker, first time poster.

32 years old. I've been in my current job for just over a year now and make $115,000 a year; first decently paid job in my life. I've managed to save up about $58,000 over the last two years and have about $6k in my 401k. Savings are low because I moved to DC for a government job offer that was rescinded once I had settled in, signed a lease, etc. Took 10 months to find a new job. Still coming back from that punch to the gut.

I work in government contracting now, so my job security is only moderately stable. For whatever it's worth, I'm a top performer on my team and extremely well-liked by the client and contractor. 1-2 people are fired every six months and 1-2 people quit every six months (it's intense work). I also work a ton of unpaid overtime and my boss doesn't give per diem when I travel, so there's that.

I very much wish I could buy a condo/house/coop in DC (think NOMA, Eckington, Shaw), but $550k looks like the absolute minimum for anything I would be remotely interested in and I know I'm more than a year away from being able to afford that.

Any real estate, finance, job, or life advice/wisdom from others on the board? I'm thinking I should increase my 401k contribution and focus on saving money and finding a more stable/enriching job environment with a similar income. [/quote]

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