How to Balance Investing and Saving for a Home Down Payment

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How to Balance Investing and Saving for a Home Down Payment

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High Yield Savings Accounts (HYSA) these days offer 3% APY.

You can just park your down payment there. The return isn’t as high as actually investing your money in the market, but 3% is still not bad at all.

rushilshah
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I love the new polished video format / branding! As a long time watcher I hope these changes grow the channel even more!

readingchess
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the mortgage @ 6% on a cheap home with a 3-5% downpayment in California would be between $5-$7k/mo if you include property tax and other monthly expenses. That's insane. That's equivalent to a $85k - $120k (gross) salary for JUST housing. And that's for a cheap home, lol. If you include all other expenses, student loan debt, etc, you've gotta clear $200k to scrape by, which is possible, however it's just a really high burn rate. Seems risky to me. I'd rather just wait til the market cools down, keep saving, and hope that interest rates come back down to between 3-4% in the next 5-10 years.

natekadlecek
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The Money Guys are good people. I appreciate everything you do. 🙏

edfig
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If it’s your 1st home down payment, I would prioritize it. But if it’s a rental property, then there’s not a definitive answer. I’d buy a rental property in 2024.

pqtaxmom
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3 to 5 percent gets me a trailer home. My downpayment needs to be way more to live in a safe area and keep the mortgage at a reasonable amount.

mrmacmiggles
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I have 200k in my savings earning no money but I’m scared to invest it

JoseLopez-nird
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25% is just too high for middle to low income earners 10-15% is more doable.

djpuplex
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60 percent savings! But I’m later in life no mortgage no debt

kckuc
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Can we have a financial mutant show special for us 20 year olds? Give us the numbers for being in the top 5%, 1% of people.

colinmorrison
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If you don't like saving for a house, try paying for one once you have it.

Mike-