Reply to Is it dumb to put most of our savings into a house?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I would try to keep most of it liquid for an emergency fund, retirement and college (prioritize in that order). [b]$100k at 40 isn't very much unless your income is low (< $30k)[/b]. [/quote]

This statement is ridiculous.  First of all, someone making under $30k and living in the DC metro area is going to have a very difficult time saving $100k -- even by 40.  And all of the people who are going to chime in "i make $30k and have saved a million" are outliers.  Do the research.  Most Americans don't have $100k saved by 40, even those making well over $30k HHI.  
[/quote]

Most Americans are idiots and can't do simple math.

Someone entering the workforce at age 22, making $30,000 a year with nary a raise, would have saved $54,000 if they put 10% of their income under a mattress.
If they had invested it in the stock market they would have around $109,000 at the 7% historical average rate of return.

Not hard at all with a smidge of self-discipline.

$100,000 for their income range is very, very low at age 40.

Put the least you can into a home and invest the rest.  You'll need it.  The nation is going broke and social security can't be depended 30 years from now.[/quote]

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