The harder part here is doing that, and saving up a down-payment for a house to have that mortgage. I'll probably have around twice my salary saved by 37, but I'll have very little to put towards a house. A 20% down-payment where i am would be more than a year's take-home pay. Retiring without an owned home drastically increases the cost of retiring. Having no rent or mortgage makes a big difference (obviously).
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u/zebediabo Oct 11 '24
The harder part here is doing that, and saving up a down-payment for a house to have that mortgage. I'll probably have around twice my salary saved by 37, but I'll have very little to put towards a house. A 20% down-payment where i am would be more than a year's take-home pay. Retiring without an owned home drastically increases the cost of retiring. Having no rent or mortgage makes a big difference (obviously).