I’m 23 years old, I make $80k a year and currently live with my parents, no car payments and no debt.
I’ve been able to save up $51k across my savings and investments, with $12k in my Roth IRA that’s maxed out for the year, and $39k in a high-yield savings account. I’m planning to move out sometime soon, and move to a city where the average rent is around $1k a month. I wouldn’t mind buying a house, if that is even a feasible option in this current market and with my current amount of savings.
What I’m wondering is, if I don’t have enough to buy a house right now, should I be doing anything else with my money while I’m most likely renting an apartment? Is $39k too much for a HYSA? Should I be investing a portion it into a taxable brokerage account? Or should I just keep putting all my future savings into the high yield savings account until I have $xx,xxx amount? If so, how much is $xx,xxx?
Thank you for any responses :)
Submitted November 03, 2021 at 05:00AM by partypartypoorboy https://ift.tt/3wbaHEx
