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How to Balance a Home Purchase with Saving for Retirement? episode artwork

EPISODE · Feb 22, 2023 · 15 MIN

How to Balance a Home Purchase with Saving for Retirement?

from Real Personal Finance · host Scott Frank and James Conole

Scott and James discuss how to balance a home purchase with saving for retirement.Listener Question:We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A comparable condo would sell around $1.3-$1.5m. That would put the mortgage at around $7,000 with another $2,000-$3,000 in maintainable and taxes a month. Rent does keep increasing and I don’t want to keep getting squeezed but does buying in Manhattan just not make sense? Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - Priorities5:25 - Various Goals 8:12 - Life & Math Don't Always Match11:15 - Investment Concerns12:30 - How Much Home Can You Afford?16:05 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter Website

What this episode covers

Scott and James discuss how to balance a home purchase with saving for retirement. Listener Question: We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A comparable condo would sell around $1.3-$1.5m. That would put the mortgage at around $7,000 with another $2,000-$3,000 in maintainable and taxes a month. Rent does keep increasing and I don’t want to keep getting squeezed but does buying in Manhatta...

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How to Balance a Home Purchase with Saving for Retirement?

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Frequently Asked Questions

How long is this episode of Real Personal Finance?

This episode is 15 minutes long.

When was this Real Personal Finance episode published?

This episode was published on February 22, 2023.

What is this episode about?

Scott and James discuss how to balance a home purchase with saving for retirement.Listener Question:We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A...

Can I download this Real Personal Finance episode?

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