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 Discussed

• Utilizing Time Efficiently
• Capital Appreciation
• Purchasing Power
• Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - Priorities

5:25 - Various Goals 

8:12 - Life & Math Don't Always Match

11:15 - Investment Concerns

12:30 - How Much Home Can You Afford?

16:05 - Aligning Your Financial Goals

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James

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Scott

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