28. Would love advice!
Ok here’s what I’ve got right now:
I have $120,000 in a 3.10% HYSA. My 401(k)is at $95,000 and I’m matching my employer. I have a $13,000 auto loan @ 6% maturing Sept 2028. I have $13,000 in student loans @ 3.97% maturing July 2035. I am making $125,000 salary living at home with parents, minimal expenses.
My goal is to purchase a home within the next year. I have a ~$425,000 budget, looking to do a 15-year mortgage. If I’m frugal I could save an additional $60,000 between now and then.
I assume it is best to keep the cash in my HYSA considering liquidity for the right home buying opportunity. Would you invest instead? Should I pay off my loans? After some calculations, it looks like it surprisingly won’t save much from interest, but could increase cash flow. Should I start a Roth IRA? (Obvious yes?)
Any advice is welcome! Thanks
Edit:
Also, how much would you put down on the house? 20%? as much as possible? Or somewhere in between to balance investing with lower mortgage payment?