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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.
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
Feel free to shoot me questions about my current income/savings/investments/goals etc. I will literally talk with anyone at length about this
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.
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
Chief
I would definitely start putting some money into stocks
You’re 22. Relax. Just keep investing. I wish I thought like you when I was 22. I was a mess.