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i just realized after expenses and 401k contribution i’m only saving 1k worth of money (montly) and this is shocking to me. I moved up north and didn’t really measure the consequences of a HCOL city☹️

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Saving $1000 a month is fine. People here forget that most Americans don’t even have a savings, so be grateful that you are able to save that much. $1000 is not an “only” amount. That’s about $12K a year. Put it in a high yield savings account and you got about $48k-50k in a span of 4 years just off of savings alone.

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No, it’s always a good idea to open these. However, don’t take money from your 401k into it. Just contribute to this savings account going forward (for example, my direct deposit funnels 1/3 of my paycheck to this account so I never see it)

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Well you are saving your 401k money too

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If you moved to a HCOL city, a mortgage is something you get when you make partner....

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i was def planning to buy in the south. not planning to settle here but thanks for the input

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I thought i was going to be able to finally save for a mortgage but honestly feel discouraged and disappointed.

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How old are you? It usually takes people a while to save for down payment

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1k a month is pretty good champ. Where I live people are lucky to save $500

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I moved from SC to DC back in 2011. At the time I was transferred, I was planning to buy a several year old house in SC. 3B2.5B, 1800 SF, partial upgrades, 2CG, 1/4 acre, ~$140k if memory serves. After I moved, I found the same exact house by the same builder here, ~45 minutes outside the city, and it was listed for ~$460k. I feel ya!

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Where did you buy if I may ask?

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Trade-offs.

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