The article discusses the financial dilemma of balancing retirement savings and home buying expenses. It suggests that temporarily lowering retirement contributions is acceptable when purchasing a home, especially if it is an affordable decision. However, maintaining contributions to at least capture full employer matching is advised. The author cautions against taking on too large a mortgage, recommending that housing costs remain below 30% of take-home pay to prevent financial strain. The ultimate goal is to navigate housing expenses without jeopardizing long-term retirement savings.
It's okay to scale back on retirement plan contributions temporarily, especially when purchasing a home involves significant expenses.
Prioritize housing costs to remain below 30% of your take-home pay to ensure financial stability.
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