Dave Ramsey Strategy – pause on investments to build cash/liquid assets for down payment on a property. My company still puts 6% into my Roth IRA even if I contribute $0. They will match 50% up to 8% (they contribute 4% if I put 8%, 3% if I put 6%, etc.). I’m debt free, minus mortgages on 4 rental properties and have a 6-month emergency fund. I live in Denver, CO where prices are through the roof. Ideally l’d like to put closer to 40-45% down on a property (condo or townhouse) to try and keep my cost of living low/cash flow high (live way below my means, and “control” my cost of living with a low mortgage). This would need to be a multi- year pause (roughly 4 years) though to save about $100K cash (~$500 a week).
Thoughts on this approach? Or any other suggestions on how to successfully save for a down-payment in this market that keeps my mortgage low?
We’ll cover this in tonight’s office hours (6/30/2021) with the recording available afterwards on the course site !
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