Do you have other investment options? Interested in real estate like rentals?
In my area your $33k would buy a duplex rental valued at $160k. If you pick right it should afford you $750 a month in income after expenses and debt service or about $9k per year. So that is $180k over the same 20 years (plus an additional $160k minimum from debt pay down). My calculations do not include rent increases or inflation, both of which will be in your favor.
To answer your question; yes, get rid of the retirement plan immediately. They are a function of wall street for the sheep.
Real estate is really the key to financial freedom. Bought my first home instead of renting and saved roughly 2-300 per month in expenses
Unfortunately you have to play their game to get good credit, but if you have steady income and a 700 ish credit score, you can get a nice little house to start out in.
Then, either pay that off through work and invest in rental properties, or invest right away if your income is high enough.
In my personal opinion, you should start small and live in a smaller primary residence so that it's easy to pay off and you have a low payment.
Or if you want to really do something smart, buy a duplex and live in one of the units as your primary residence. House pays for itself and you can use that income to pay towards future investments
Do you have other investment options? Interested in real estate like rentals? In my area your $33k would buy a duplex rental valued at $160k. If you pick right it should afford you $750 a month in income after expenses and debt service or about $9k per year. So that is $180k over the same 20 years (plus an additional $160k minimum from debt pay down). My calculations do not include rent increases or inflation, both of which will be in your favor. To answer your question; yes, get rid of the retirement plan immediately. They are a function of wall street for the sheep.
Real estate is really the key to financial freedom. Bought my first home instead of renting and saved roughly 2-300 per month in expenses
Unfortunately you have to play their game to get good credit, but if you have steady income and a 700 ish credit score, you can get a nice little house to start out in.
Then, either pay that off through work and invest in rental properties, or invest right away if your income is high enough.
In my personal opinion, you should start small and live in a smaller primary residence so that it's easy to pay off and you have a low payment.
Or if you want to really do something smart, buy a duplex and live in one of the units as your primary residence. House pays for itself and you can use that income to pay towards future investments