What should be given more priority: buying a home or investing in retirement?

It's understandable that you may feel pressure to prioritize both saving for retirement and saving for a down payment on a home. However, it's important to keep in mind that retirement savings should generally be a priority, as it can be more difficult to catch up on retirement savings later on.

That being said, it's also important to consider your long-term financial goals and the role that owning a home may play in those goals. If you eventually want to own a home and you feel that it's important to your financial stability and overall well-being, it may be worth considering ways to adjust your budget to make saving for a down payment more feasible.

One option could be to consider finding ways to increase your income, either through negotiating a higher salary at your current job or by seeking out additional sources of income. You could also consider downsizing your living expenses or finding ways to reduce your monthly expenses, which could free up more money for saving for a down payment.

Ultimately, the decision of whether to prioritize saving for a home or saving for retirement will depend on your individual circumstances and financial goals. It may be helpful to consult with a financial planner or advisor to get personalized advice on the best course of action for your specific situation.

/r/personalfinance Thread