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“make it” is a loaded term. You’re unlikely to achieve a very strong retirement on that income in a lot of US states.
by JohnMakin 3y ago
“make it” is a loaded term. You’re unlikely to achieve a very strong retirement on that income in a lot of US states.
- s1artibartfast 3y agoIt depends on what you want out of retirement. If you are making 200k in a high cost of area, your home will be worth several million. That's where the retirement money went. If you expect to be able to die without tapping the retirement account, you will have a problem. You need a reverse mortgage or to sell out and go back to renting.
- bradlys 3y agoYou’re assuming you even could buy a home at $200k/yr. You can’t in several places - usually places where those $200k incomes are achievable.
- s1artibartfast 3y agoI think that is over-stated. Much of it depends on the home people want, how long they will save, and commute distance acceptable. At 200k, it isnt that people can't buy a house, it is that they dont like what they can afford. You cant afford a downtown penthouse/mansion on SF & NY with 200k, but you can absolutely buy a home in both locations.
- bradlys 3y agoFind me a decent home that you can actually buy in SF proper with $200k/yr.