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Reply to "No retirement savings....what to do with $150k? Buy a house or invest for retirement"
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[quote=Anonymous]I would use $110k toward the house and save $40k. But I will push the decision to buy into next year. At 47 assuming you work until 65 and delay social security until 67 you may get about $2k in today's dollar assuming your current salary. And your $401k assuming descent return may yield perhaps $1500 a month in today's dollar. You will be able to have a basic retirement with most of your needs met. So I'll buy the house instead but defer to next year. And your gig money I will put it in a Roth IRA. Believe it or not you are in much better shape than almost half the country with your current financials.[/quote]
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