So I’m currently 18, just graduated high school last week. I have 1k in a Roth IRA through Vanguard and roughly 6k in savings.
I’d ultimately like to buy and make a living off of rental properties, but I’m having a mental debate about whether or not to put my money into my Roth or save it for a down payment on whatever property I end up choosing (2-3 years down the line). Right now I could max out my Roth for 2019 (because the deadlines were extended due to Covid-19) and start chipping away at my 2020 Roth.
Would it be more beneficial to save the 12-18k so that I can use it to buy a property in a few years (and then start maxing out the Roth at 20-21yo) or max out the Roth now and potentially wait longer to buy a property? Any advice helps. Thanks!
Submitted June 15, 2020 at 08:10PM by maxwhal3 https://ift.tt/2C5GgHT
