Should I Stop Investing to Save For a House Down Payment?

Should I Stop Investing to Save For a House Down Payment?
Listen to how ordinary people built extraordinary wealth—and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, and John Delony.

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[milesolsen_]

This is a question I’ve been sitting with - perfect timing!

[johnSmith-uznl]

I do not agree with Dave about a gap year. My advice is... NEVER stop investing 15% for your retirement... NEVER EVER!!!! And invest any remainder in a index fund, when you are ready look to buy your place and cash in your investments BUT NEVER stop investing 15%. This is what I have done and I have over 1 million in my 401K PLUS I have a pension.

[arigutman]

Easily a frequently asked question and of course you have explained your answer and rationale well. Of course there are different ways to go about it, but I always stick to a 50/30/20 budget whereas I take that 30% or 20% and play around with it to ensure I am consistently doing both. After all, if you can manage to perhaps to 15% for a house and 15% savings why not or however which way you want to divide it, the point is both can be done and that may be the wisest approach in my opinion. Investing in high quality stocks or indexes will only be a benefit for the longer term especially if within an IRA!

[DominicRoyce]

Literally what i was wondering yesterday! Thanks Dave lol

[YummyFood]

Good question, lots to continue to learn

[LukeofAllTrades.]

Don't give up the match if there is any, at least keep that much investment going. There are some provisions for withdrawing $10k from a 401(k) or 403(b) for a first time homebuyer, so you could at least invest enough to grow to build up to that amount.

[j.mney]

The caller is in really good financial shape! I would taper down investing a bit and stock pile money for a home.

[simsimmaa]

Keep investing but save more and get a side part time job. Or get a better job which pays you more.

[Ingridlourd]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274, 800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[timcj]

Yesss I've been looking for a video about 3b I'm 22 and am saving a large amount of my income, getting a huge down payment for a house and plan on moving in three years from now, then I should actually be almost paying it off, after it's paid off and I don't have any house payment or car payment to worry about us when I was gonna dial in on investments and retirement
Edit: passed baby step one, I don't have debt so passed two, I have my EFUND that's three, then 3b obviously is where I'm at, pausing four, don't need five I'm single and six is house if I remember correctly which will be covered, so once I pay off my house I'll be on seven 😂that's crazy

[nathanhickman]

I'm saving up to pay for my first house in cash, and I'm using an index fund to save up. I'm in no rush.

[The.Dude.Abides.]

No need to put 20% if it’s your first time home. If you can great but don’t forgo saving and investing just to throw money at a house with a super low interest rate.

[coniccinoc]

Life changing advice from a smart Mom.

[MrOfficer]

I would get a second job before I would stop investing

[DeportillegalAliens]

I think take the match only until you save a reasonable down payment my be the best for most people

[pimpballer]

House is an investment so you can use your 15% to that

[kp_]

do i need credit for a house? i think dave said that he didnt have any credit

[LarryAnthony-utok]

The best investment one can do right now is investing on real estate though stocks are good but ever since I swapped to real estate, I've seen so much difference.

[goodcredits]

You should make a content on how to earn 6 figures in monthly profits cos I've been reading about investors making up as much and I'd really love to know how to such substantial profit in this current market

[Je.rone_]

I’d prefer to dial back investing in lieu of stopping completely