Saving for a House Down Payment #6: Family, Big City: Financial Freedom, #60
By Joshua King
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About this ebook
Do you like challenging assignments? Well, buying a home in a big city, while supporting a family, will test your meddle.
A $1 million home will require a $200,000 down payment. That's a whole lot of cash, but at least salaries are high in big cities.
If you are living in a big city, you must make a massive salary. If you are earning less than $100,000, you will probably need to move to Alabama.
Once you make over $100,000, you still have tough decisions to make. You'll need to live significantly under housing prices.
Some solutions are getting roommates or sending your family to their parents while you rent a room from someone.
Yes, it will take sacrifice and time apart, but it's the only way to save for your down payment in a couple of years. My wife and I did this and we are repairing the benefits today! Good Luck.
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Saving for a House Down Payment #6 - Joshua King
Table of Contents
MILITARY FAMILY INVESTING | Home of the Free PDF
Saving for a House Down Payment #6
Monthly Dividend Tracker Template: Buy on Etsy
All Right Reserved Military Family Investing | 01 Saving for a House Down Payment #6: Family, Big City
02 Be Extreme Toward Your Dream
Free 42-Page PDF Download ($2.99 Value)
03 Super-Charged Savings: Save for a Down Payment Fast
04 Saving & Investing with $200/month Available
05 How to Thrive In the Gig Economy
06 Happy Cash Flow Retirement 8
07 What is Your Dream Retirement?
08 You Can’t Get Rich By Acting Rich
09 Take Control of Your Finances
10 What is Generational Wealth?
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Saving for a House Down Payment #6
Family, Big City
01 Saving for a House Down Payment #6: Family, Big City
02 Be Extreme Toward Your Dream
03 Super-Charged Savings: Save for a Down Payment Fast
04 Saving & Investing with $200/month Available
05 How to Thrive In the Gig Economy
06 Happy Cash Flow Retirement 8
07 What is Your Dream Retirement?
08 You Can’t Get Rich By Acting Rich
09 Take Control of Your Finances
10 What is Generational Wealth?
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Monthly Dividend Tracker Template: Buy on Etsy
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
All Right Reserved Military Family Investing
01 Saving for a House Down Payment #6: Family, Big City
If you want to accomplish the most difficult thing in life, try buying a house in a big city while having a family. I cannot think of a more demanding position to be in as an adult.
However, we can achieve anything we put our minds toward, so let’s move forward with a positive mindset. We must first write down our goals and put 110% effort into reaching them.
Welcome back to the Saving for a House Down Payment series (part 1, part 2, part 3, part 4, part 5), where we buy homes no matter the circumstances.
Roth IRAs vs. HSAs
Think and dream big. We must ensure we have the correct mindset for making an enormous purchase. The book "Think & Grow Rich" gives us daily affirmations to help us reach our goals.
These reflections don’t work by magic; they work because you focus on what is important. I read this book in 2020, and my finances have improved dramatically. I also understand I have to be extreme toward my dream.
Buying a $1 million home in a big city will be tough. Heck, this amount doesn’t get you much here in San Diego. We will have to pull out all the stops to save a $200,000 down payment within a couple of years.
How to save $200,000 in less than three years. Let’s be honest; the real estate market undergoes major shifts every 2-3 years. You can’t take 7-10 years to save for a down payment because the entire market will have changed.
Turkey vs. Turnkey 2
So how do you accelerate your savings? There are two significant ways to save this type of money 1) live below your means and 2) increase your income.
Living below your means in
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