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Reply to "401k or downpayment on house?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]70K in retirement savings for age 31 is in fact quite low. If I were you, I'd max out 401k savings and continue to save for downpayment. If you make 400K a year, [b]you can do both.[/b][/quote] I live in NYC and to get into a house in a good school district next year will take a lot of scrimping and saving. Does that change your answer at all?[/quote] We said the same thing when living in NY. Now looking back we were fools who didn't save money. You should absolutely be able to save for retirement and a down payment. Move to a studio apartment for a year or two, get rid of your car and limit fancy meals [/quote]
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