I’m a 25 year old structural engineer living in Los Angeles. After graduating a few years ago I had a goal of buying a home or condo in a good neighborhood at some point but I’m starting to realize that that may never be possible being single and living in LA. Right now I have about 10k in a savings account with 500 automatically being saved every month for a potential down payment. I’m now wondering whether this money could be used better elsewhere or if I should continue what I’m currently doing just in case my mindset or situation changes.
So my financial situation isnt too bad. I make about 65k a year and I’ve paid off all of my student loans. I put 10% of my pay in the company 401k, another 300 a month goes into a Roth IRA, and I have a 6k emergency fund with 100 added per month. I also save 300 a month for vacations/trips. Everything else pretty much goes into rent/food/utilities/car.
Submitted December 28, 2019 at 10:00PM by DummedDownInThot https://ift.tt/366lC4H
