Personal Finance (Not Investing) • First Home Purchase Sanity Check - $650k

OP,

1) What is your current gross income? 280K?

2) What is your current annual savings/investment?

3) What is your current rent?

4) What is your current annual expense?

KlangFool

These are answered in the OP except for #3 which is $2300.

Spade777,

No.

Both (2) and (4) are your projected numbers instead of your current actual numbers.

In fact, there is no actual number for (2). Maxing up 401K has multiple way to interpret the numbers.

"Ages: 33 / 31
Income: $280k
Net monthly Income (after 401k max): $16,080
Debt: Only debt is low interest student loans. $45k for her $7k for me.
Retirement Savings: $300k (401ks / HSA / Roths)
Down Payment Saved - 10%"

In fact, looking at your numbers, I believe that you have severely underestimated your current annual expense.

KlangFool

Statistics: Posted by KlangFool — Wed May 08, 2024 9:13 am — Replies 10 — Views 324

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