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Originally Posted by NorCalAthlete
I'm really torn right now. Prices in my area are dropping as I'd anticipated and have been waiting for, but I basically have a choice between dropping 6 figures on a down payment or dumping that 6 figures into an investment account.
It's so steep for a down payment even for an entry level payment that there are a lot of people I know opting to rent - long term - and invest, instead of purchasing a home here. Median price is ~$1.4 million, even with the prices dropping, so an entry level starter townhouse is still like $800k. I've got about $150k I can throw at either investing or the down payment - right now it's sitting in a high yield savings account.
Currently I have a 401k, Roth IRA, individual investment account, and a robinhood "play" investing account. I'm debating on talking to an actual wealth manager / financial advisor and just turning it over to them and being like "help me retire in 10 years."
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NorCalAthlete Interesting that you are seeing prices come down.
Do you spend time on early-retirement.org or bogleheads.org? There are some perspectives on the retirement topic on those sites. The basic principles on those sites are good, and each person needs to create their own plan based on their particular situation. Take some of what is posted on those sites with a grain of salt, like any internet forum.