Ep. 57: Dustin wants to know if his new home purchase will impact his retirement

M$D: November 5, 2039

Meet Dustin

Age: 25

Dustin’s main concerns, in his own words:

Hi my name is Dustin, I am 25 and I work for the phone company. I recently got engaged with a wedding date of May 2017 I make about 60,000 a year and my other half works for an orthopedic surgeon and makes about 30,000 a year with rent, health care, car payments, utilities and retirement as our main monthly bills I don’t know if I’m contributing to much to my retirement and if she is contributing enough to hers I’m putting in 8% to my 401k with a company Match of 6% and I do an additional 4% into a Roth she is at 8% as well into a 401k but the match that her office does is not a % it’s based on profit shares I have 0 dollars in my savings and we live pay check to pay check but we are comfortable, I pay all off our rent which is 1200 a month and her portion is utility’s at 500ish then we each pay for our own cars and to top it all off we are looking to buy a house asap. I just want to know if it’s safe to pull back from our retirement saving to be more comfortable day to day? Thanks 🙂

What we cover in this episode:

  • How to prioritize retirement, emergency savings, and saving for a wedding
  • When it’s the right time to buy a house

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