Ugh I’m 22 and make decent money in the bay but I don’t think I’ll be able to buy a house for a loooong time. It’s kinda sad. But family is here so I would never consider moving somewhere else. Any investment ideas that’ll set me up to be in a better place to have enough for down payment in abt 5-7 years?

like
Posting as :
works at
You are currently posting as works at

What's your TC? You'll need to progress your salary over the next 5 years and save a significant % of your earnings.

Invest the savings in tech stocks + index funds.

like

Also keep in mind, it's possible to 2-3x your TC in the next 5 years in the Bay. Keep growing your self and looking for new opportunities.

You'll need to significantly level up your comp (and controlling your expenses) to hit your goal. I bought a place with a partner at 26 so it's def possible but hard. Happy to chat more directly if you're interested

likehelpful

Feel free to shoot me questions about my current income/savings/investments/goals etc. I will literally talk with anyone at length about this

like

So I was in your situation, starting in NYC though. Similar comp, I just mindless invested in stocks through 401k, IRA and brokerage and am at 250k after 3 years. Granted, about $100k is locked in retirement accounts but if I had kept it all liquid, I’d have enough for a down payment back in the bay (also from there). Never think you don’t have enough to invest, the whole concept of saving is about compounding and accumulating wealth.

This is of course assuming you don’t have debt or other liabilities that will set your goal for a down payment back.

like

That’s up to you. If your goal is first and foremost to save for a down payment, then just contribute up to the company match and dump the rest into brokerage. I’m maxing out my 401k since I’ll eventually roll it over to a Roth IRA and can withdraw if necessary.

Check out ZeroDown for a new way of buying homes in the Bay Area

like

I would definitely start putting some money into stocks

like

You’re 22. Relax. Just keep investing. I wish I thought like you when I was 22. I was a mess.

like

Related Posts

Hi everyone! Wondering if anyone can help me out with a referral to Deloitte or KPMG for a Scrum Master or Project Manager position. Open to other companies as well. 😊

like

I'll be giving the WIDA test for my ESL students for the first time in January. Any tips to prepare them?

like

Recently single with three kids under the age of 10. Ex is nowhere to be found. I have a daytime nanny but am really struggling to find someone for overnights when I’m on the road. As you know our client travel sometimes is not optional. Have tried the usual website like Care with no luck. Any other suggestions?

like

Does anyone do a high level check of all earnings less all major purchases cumulatively to see what it comes out to compared to what you actually have in liquid assets? Basically your own cash flow statement kinda? Is there an easy way to do this or a tool available? I currently use Excel and it's been accurate up until this year and I can't figure out what's off, it's annoying..

like

Just started horizon forbidden west. “Economic instability. New bio contagion. How long until another catastrophe creates another unacceptable instability for the elite?”

Man, I come to video games to escape reality, not to relive it 🥲

likesmart

Does anyone here live on Vancouver Island or know about it? Worth it?

likehelpful

When do you submit tax proof for rent, investments etc?

like

I'm having total 7+yrs of exp and I've been offered 10LPA As Lead Engineer by HCL but now I'm having an offer of 17.67 LPA as senior associate from some other company shall I ask for a counter offer or what do you guys suggest.

TIA.

like

“Quiet quitting is about bad bosses, not bad employees,” thoughts on this quote?

Quite opposite.. but has anyone been able to move out of Pharma? Worried that I'm getting stuck and recruiters only reach out for pharma accounts..

likehelpful
like

I’m in Georgia, and in the process of settling a claim. The liability insurance rendered the full policy limits of 25k, a release has not been signed yet, the coverage is 25/50can I still send a loss of consortium demand for the non-injured spouse ?

like

Hey guys,

How is Yum! Brands? Is it like a startup?

They have started a new division - digital and tech.

like

Hola, Bon jours, Namaste, Ciao!!
I am a bilingual teacher in the San Francisco Bay Area and I thought it would be fun to start a bilingual teachers' group so we can all share our ideas and expertise!

like

Lazy Sunday Morning with Earl. -1 degrees [in Chicago] so no long walk like we do most Sundays.

Post Photo
likeupliftingsmart

What do your teams do to keep it light in the audit room so you aren't just sitting in silence all day?

like

Google or Facebook? 🤷‍♂️

like

Why do you want to work for my company?

like

Need referral assistance for salesforce, can anyone help me on this

likesmart

Additional Posts in Personal Investment Chatter

I max out all tax-advantages accounts and put 30% of my take home into an index fund. What/where else can I invest in?

like

New to cryptocurrency and want to invest in it. Recommendations welcome. How to start? Coinbase vs. GBTC via Vanguard? Is it a good time to enter?

like

Has anyone here bought land and built a home or completely renovated a new one in the city? Outside of timeline, are there other pros/cons you would highlight? What was more cost effective?

like

Hey all! I would appreciate some feedback on my investing strategy: I want to buy QQQ3X when QQQ goes below 118$. I believe a major market reversal (a crisis) should take place in late 19 or (cont)

When you do a back door roth - do you close the traditional ira or leave it open? My first time doing it and fidelity is asking which I prefer.

like

24, a decent amount of savings in the bank. I’m sort of interested in buying a property in the next few years.
Is this a good or bad idea? I live in Ny area, so obviously the city would probably be too expensive to buy any property. Would probably have to buy further out in westchester, Long Island, maybe connecticut or NJ. If I buy, should I be living there? Or should I rent it out until I’m ready to live there (assuming it’s a bit further from the city). Very early stages of just thinking

like

Left KPMG last year to move to smaller consulting firm. I still have my 401k over there and haven’t rolled it over anywhere. What are my best options? Currently maxing out 401k

helpful

Worth buying VTI today? Every week I am buying and it’s going lower and lower the next day. I bought it yesterday and today it’s 5$ lesser than yesterday!

like

Should be close to breakeven after todays market gains (Invested around 60k during early days of market decline). How many of you are thinking about pulling money out today?

like

I’m considering Schwab roboinvestors to manage my investments actress various index funds aligned with my risk profile. Aside from the large 6% cash requirement, what are other downsides?

Selling 2022 sealed and brand new Kaplan CFA Level 1 books, comment or DM if interested

like

Would anyone like to share ways they give back or donate? And at what % of net?

like

Curious for some advice…

I currently have a Cap One Venture card. I have had it for a couple of years now but I am interested in upgrading to a Venture X card.

No promotion has been offered to me to upgrade my existing Venture card to a Venture X card.

Should I wait until that promotion is offered to me? Or would it be dumb to apply for a Venture X card separately and a) hold both cards or b) close out the original Venture card.

like

I haven’t used my credit cards in years. They may close the cards unless I make some transactions. Shall I continue to keep these cards?

like

Currently building a house, 6 months to go and have down payment and a little more in a HYSA. Is it wise to put the remaining in an S&P 500 ETF to capture some of the bull market or hold onto cash?

Not sure what to do with my student federal loans. Weirdly my private loans have a 3% rate while federal loans are at 6.5% makes no sense

like

Would you recommend an associate making 90k base in NYC prioritize maxing out their 401k and Roth IRA even if it means they won't save beyond that? Assume debt has been paid off and 3 month emergency fund in savings

like

Thought I’d invest $20K when the market dips due to election but...

like

New hire out of undergrad thinking about investing/saving—seeking advice. Details in comments: 15k sitting around in checking/savings account with interest close to nothing. Been reading posts here an

Where do you go for stock market news?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal