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Im so happy! I just paid off all my debts!
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Hi! I am asking for a friend in tax - “I’ve been in the AWM tax practice for 7 years (4.5 yrs at pwc and 2.5 at private) and am looking to switch to EY’s national tax team (passthrough group). How do they conduct an interview and how technical can it be? Also any general thoughts/ experiences on boomeranging back to big 4 after private? EY PwC
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Im so happy! I just paid off all my debts!
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I’d pay off your student loans before buying a house.
I would pay off the student loans first
Pay off the student loans
Continue to save and wait to buy a house
Invest in stocks and other means of savings outside of of 401k
When you find a significant other of that’s what you intend to do, having a house limits options depending on what each of you would be looking for, but could also be a good thing for you which you could turn into a rental property also.
With your amount of savings, income, and low debt it may be good to meet with a financial advisor.
OP - try searching for a fee-only financial advisor. Rather than making money from selling you financial products, you pay them a monthly or annual fee and they provide holistic advice.
The "free" financial advisors (speaking as someone who used to be one) are glorified insurance salesmen
Sorry this isn’t answering the question. Is your debt from an MBA?
No…
I bought the place, then paid off both my student loans, and was able to do that within nine months of moving in.
HOWEVER, I was also paying a ridiculously low interest rate (1.75%) on the student loans.
Have you looked into consolidating your student loans? Granted, it would have been a better move during the pandemic, but there may be some savings still on the interest rate. There’s no harm in asking. That’s how I got the killer rate for my student loans…and it was FIXED, which makes it even better.
If you can’t get a better rate by consolidating, I’d pay off the student loans before looking for a house.
Find a trusted lender and ask them. They see people’s financial situations all day long. Personally, our lender gave us some financial advice that made us wait a little while longer so we could be in the best financial position before buying a home (i.e. having a 6 month emergency fund for the NEW house, not just current expenses since new house would be much costlier that current living situation). He also mentioned a few things to do to bump my credit because my husband had a perfect credit score but that didn’t matter because lenders use the lowest middle score of the two people. We spent a few months following his suggestions, then he felt more comfortable giving us a better idea of what we could afford.
Take into consideration that buying a home is emotional as well as financial. If you like to be rooted and plan to stay put, I can't recommend home ownership highly enough. But if you want to make a move every few years for your career, I'd suggest a balance of investing in the markets and paying down debt.