The ugly financial reality
Jul 30, 2023
Being honest with yourself if you were 21 again and had to work a W-2 (no biz income), would you be able to save for a house by 35 for your area? Assume rates stay at 7% and prices are flat.
— BowTiedBull - Read Pinned Tweet or NGMI (@BowTiedBull) July 20, 2023
No. The average house in my area goes for $1 million which means that I'll have to save, at minimum, $200,000 in 15 years. That's not hard. The main problem is that my income won't be high enough to qualify for a mortgage with only 20% down.
Without multiple jobs, business income or some sweet well-timed investments, it's definitely not going to happen.
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