Marry someone you love,trust. And hopefully he/she also doubles your income and net assets. Then you can double your budget for a house.

At least max a Roth. You can tap into your Roth contributions without penalty in the case of an emergency. You 100% need to stabilize your job and get it aligned with your career goals for the next 5-7 years. Then worry about housing. The way you’re planning things is a good way to take a loss on selling something after this job goes south.

Anonymous wrote:

Anonymous wrote:I mentioned a partner and I didn't mean a roommate but spouse. Maximizing happiness is about more than money

Getting married is the worst financial decision a man can make.

I make more money than my husband, brought more savings to our relationship, and know more about finance. So the statement above is ridiculous and sexist.

OP, the best advice on here is to save in a Roth IRA (fund the matching part of the 401k, then Roth at Vanguard in something like the total stock market index fund, then extra in the 401k again). Condos don’t appreciate very well, so don’t buy one if you think you might live somewhere else in 5 years). And your employer sounds shady, so put energy into finding a new job.

Anonymous wrote:I mentioned a partner and I didn't mean a roommate but spouse. Maximizing happiness is about more than money

I mentioned a roommate and I meant it. It’s amazing how much getting a roommate will affect your bottom line.

Anonymous wrote:I mentioned a partner and I didn't mean a roommate but spouse. Maximizing happiness is about more than money

Getting married is the worst financial decision a man can make.

I mentioned a partner and I didn't mean a roommate but spouse. Maximizing happiness is about more than money

Anonymous wrote:I am not a real estate or financial adviser, but someone looking back to 32 from the age of 53. If I had to do it over again, I would figure out a way to contribute the maximum to my 401K and to move the hell out of DC. PP was right, it is a soul-sucking city full of arrogant nerds and d-bags.

There are more coming when amazon moves in. People aren’t grasping how transformative this will be.

I would spend these years maxing your 401K and a Roth IRA. Wait to buy until you have a partner, or have built up liquid savings. If you are hellbent on homeownership, buy something you can share with a roommate. I have never lived alone in DC and know many like me (and I am old, it has always been expensive to live here).

Check out bogleheads.org forum for financial advice.

Anonymous wrote:You are under the modified adjusted gross income cap for Roth IRA contributions. I would not only max out my 401K, I'd also max out a Roth IRA (set one up at Vanguard; invest in a stock index fund and a bond index fund).

+1 PP's advice on getting a roommate.

+1 on the Roth over 401k. I’m a govt contractor as well (although for a much less shady company) but my investment option are limited and not great (funds with high fees). I contribute enough to max out employer match and contribute the rest to a Roth.

Anonymous wrote:

Anonymous wrote:
4% match which fully vests after 4 years. I'm just contributing the 4% to get the match right now, though it would apear they are only giving 2% match (boss loves money and is a little shady).

This is an ERISA violation. Your boss is not just shady, s/he is crooked. Find another job, preferably somewhere else with lower housing costs if you prioritize home ownership.

+1. Please leave this company ASAP. The match and the lack of per diem are huge red flags. There are too many other and better options in this city to deal with that. Also, invest in an IRA beyond the match.

Anonymous wrote:I am not a real estate or financial adviser, but someone looking back to 32 from the age of 53. If I had to do it over again, I would figure out a way to contribute the maximum to my 401K and to move the hell out of DC. PP was right, it is a soul-sucking city full of arrogant nerds and d-bags.

Same age. Same advice. If I could have done over, I would have left. I bought as much house as I could afford, so at least I have that.

You are under the modified adjusted gross income cap for Roth IRA contributions. I would not only max out my 401K, I'd also max out a Roth IRA (set one up at Vanguard; invest in a stock index fund and a bond index fund).

+1 PP's advice on getting a roommate.

Anonymous wrote:Just because "you'd really like to" doesn't mean you should. If you had children and you needed to send them to school, that would be different. Then you need to lay roots. Right now you need to keep building .. building a career, building a solid professional position .. building on your financial security. And looking for a lifelong partner to share the risks and rewards of what's ahead.

This. Finding the right partner is a good way to save on expenses, build wealth, get more stability, and it will make you happier too.

I am not a real estate or financial adviser, but someone looking back to 32 from the age of 53. If I had to do it over again, I would figure out a way to contribute the maximum to my 401K and to move the hell out of DC. PP was right, it is a soul-sucking city full of arrogant nerds and d-bags.

Just because "you'd really like to" doesn't mean you should. If you had children and you needed to send them to school, that would be different. Then you need to lay roots. Right now you need to keep building .. building a career, building a solid professional position .. building on your financial security. And looking for a lifelong partner to share the risks and rewards of what's ahead.