If I leave biglaw after 3/4 years and only come away with a really nice forever house and paid off student debt but limited savings, is that a poor financial outcome? Obviously would love to have it all. But in a HCOL, I may blow most of my money on a million dollar+ house and also pay off $150k in student loans (house wouldn’t be paid off but bonus money would pour into it to make the mortgage more reasonable when leaving)

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Primary residence isn’t really an investment imo. I’d be concerned about paying a million dollar plus mortgage with out big Law income

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4th year - funds - total comp 335
2nd year - capm - total comp 200 (more like 190 plus rsus)

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Depends on whether you want the WLB. What’s the point of money if you ain’t got any time (or health) to spend it…

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… r u in a no income tax state? how r u even coming away this well given the loans / mortgage / etc.?

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I think when you crunch the numbers you will see you’ll unlikely be able to both pay off that much debt and buy such an expensive home after such a short period of time. Maybe one or other other. You could pay down the debt to something more manageable (like $50k) and just make minimum payments going forward (bc you pay off the high interest loans first). Then maybe buy like a $700/$750k house—this seems more achievable. I personally don’t think the house is worth not maxing out the 401(k) and would move onto the house after you have saved a bit, are maxing out the 401(k), and have paid down your debt so that your only loans left are in the ~5% range

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Not bad. Especially the forever inhouse job

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Houses are typically decent (or better) investments, but like all investments, they come with risk. If you're asking this question because you're considering whether to embark on this path, make sure you're accounting for the possibility that the house you don't own yet ends up being a money sink. Basically, if you're counting on your first house being your forever home--don't. But if you actually know what you're doing and have priced in the risks of homeownership, and know this next one is the one, then yeah, this is a pretty good plan as far as I can see.

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Paying off loans without having literally any savings that you could use to cover your mortgage is not smart. You’re basically risking your home in order to pay your loans. I would pay off private loans fairly aggressively but I would save first

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I really don’t think it’s worth taking money out of your brokerage account to pay for a house. Just start saving for a house

Idk if it’s wise, but I think I’d do it. But only if the house was good financially. Like mortgage isn’t ridiculous and, if shit hit the fan later on in life, you could sell the house for a less expensive one and have stability that way?

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