Hi PF - this is a question that may come down to personal preference, but I'd love to hear everyone's take.
I'm 26 years old, making roughly $50k/yr in a stable biotech job. After three years, I love the area I live in, jobs in my field are plentiful, and it's looking like it might make sense to buy a house here. Small homes in this area are currently in the $150k - $200k range. While I am working (successfully!) on cutting back in the spending department to help save for a down payment, it occurred to me that I could get there faster if I move my retirement savings in that direction for a while.
Those all-important $$ stats:
Salary: $50k/yr
Emergency fund savings: $7,300 (4-5 months of current expenses)
Retirement savings in Roth 401k: $28,700
Relatively new (2013) car paid off 8 months ago
No debt (student loans, credit cards, etc)
For the past three years, I have been contributing 10% to my Roth 401k. My employer matches 4% and I was immediately vested. I'm not interested in taking any of the money out of this account, but have considered changing my contributions from 10% to 4%, and putting the remaining 6% into savings for a down payment. For a period of ~2 years, does it make sense to take the 6% above my company match that was being saved for retirement and instead save it toward a down payment?
Submitted February 23, 2017 at 03:00PM by LabQs9947 http://ift.tt/2lKu0T1
