this post was submitted on 02 Oct 2023
9 points (90.9% liked)
FIRE (Financial Independence Retire Early)
1132 readers
1 users here now
Welcome!
FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.
Flow Charts:
Personal Income Spending Flow Chart (US)
Personal Income Spending Flow Chart (Canada)
Personal Income Spending Flow Chart (Australia)
Personal Finance Flow Chart (Ireland)
Useful Links:
Mr. Money Moustache - a frugal lifestyle blog
Related Communities:
/c/PersonalFinance@lemmy.world
/c/PersonalFinanceCanada@lemmy.ca
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Your can use your tax advantaged accounts in most places to help with the down payment. That may be better than foregoing those contributions.
My spouse used a 401k loan to shore up their efund between buying our house together and selling their old house. The terms were surprisingly decent.
Yeah, a lot of people discourage it, but my opinion is that if you'd be redirecting savings from the 401k anyway, you might as well just invest in your 401k and take the loan so you save the 401k space.