23 y/o, 180k/yr income, invest for house in 5-7 years?

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  • February 17, 2024 at 3:32 pm #91804 Reply
    USER

      Hello, I need some tips on what to do with my money and how to invest wisely in the long run and have enough to buy a house in the next 5-7 years. 23 y/o making 180k/yr. Currently have 32k in HYSA, 90k in CDs, 24k in investment accounts IRAs and stocks. No student debt but currently in school with a tuition of 36k paid throughout 2 years. Bills and necessities are about 1.2k/month. TIA

      February 17, 2024 at 3:33 pm #91805 Reply
      Rebecca

        You’re in school currently and making 180k/yr? What the hecky? How?

        Anyways, just max out your retirement funds and save 150k a year for a couple of years. Invest it and you’re coastFIRE’ed. Then do everything the same for another 2 years and you have spending money for lifestyle changes.

        February 17, 2024 at 3:33 pm #91806 Reply
        Bonnie

          For someone your age the book or audiobook Diary of an Early Retiree: How You Can Do It Step by Step is perfect for you.

          February 17, 2024 at 3:33 pm #91807 Reply
          Randy

            If your bills are really 1.2k and that’s including rent, you should be able to stack massive cash.

            February 17, 2024 at 3:33 pm #91808 Reply
            Emilia

              Your rocking it you can also invest in compounding stocks & indices. But it’s short term.

              February 17, 2024 at 3:34 pm #91809 Reply
              Louis

                23 and $180k is great. What industry are you in? Does your job offer 401k after tax contributions?

                What area of the country are you living? You are likely in a good position to invest in yourself to get the best return.

                Don’t miss: Where to invest house sale proceeds for growth? Mid-50s couple, college saved

                February 17, 2024 at 3:34 pm #91810 Reply
                Jason

                  What do you do that you make $180k right out of college?

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