Some background info:
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150k/year income, with foreseeable annual 8% raise for the next 2-3 years
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maxing out traditional 401k and backdoor roth IRA currently (thanks PF for the info on IRAs which I opened recently)
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take home ~3k biweekly after 401k/IRA/taxes
expenses:
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1k rent (living with a relative now)
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about 500/month in other expenses (anticipating ~1k after moving out)
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no other debts
Currently saved up 20k in emergency fund, 100k invested in taxable brokerage account (short term, moderately conservative strategy with 55% in bonds and 45% in stocks). My plan is to save up to ~200k to cover the mortgage/closing costs, etc. in the next 2 years. Using this calculator the monthly PITI will be 3500, which is about 28% of my gross income. Am I on the right track? Any advice is appreciated.
Submitted May 29, 2017 at 12:30AM by AtivanIVP http://ift.tt/2rvULyb
