Reply to No retirement savings....what to do with $150k? Buy a house or invest for retirement

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[quote=Anonymous]If you are planning on working for at least ten years in the US you will get social security.  To get the Maximum benefit you need to have worked for 35 years, which, obviously, you won't have done, but you'll get a decent benefit regardless.

Where do you want to buy a house?  If your job is stable (a government job or a high skilled architecture or doctor job) you don't need to worry as much about not finding a job after 50.  I mean, anything could happen.

Since this $150K is your nest egg, i think you should indeed use if for a down payment.  Focus on somewhere that has good bang for the buck.  Probably make sure you get three bedrooms because kids need a lot more space as they get older.

But, since your wife doesn't work yet and since you're starting a career in the US at an older age, I think you should focus on a less expensive / modest duplex or row house or single family home for around 600K / 650K in the parts of DC or PG county that you can afford (if you are in this area).

Real estate is a decent investment, as long as you don't buy a condo, and you can move to a less expensive area when you do retire and put that money to work for your retirement.  [/quote]

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