Personal Finance (Not Investing) • Please help: Can I upgrade to a single family house?

1) What is your gross income?

H: $350k (includes bonus, rsu). RSU is around 90k vests over 4 years, RSUs has been stable. Bonus 50K
W: Contributes 36k after taxes
H: 401k 22K + 15K match
W: 401K: 22K + 12k Match

2) What is your annual savings/investment?

401k
H: 401k 22K + 15K match
W: 401K: 22K + 12k Match
I used to save at least 50k into VTSAX for the last 4-5 years. Its on a auto mode for 10 year now.

3) What is your annual expense?

120k. I will have to look into it in more detail though.

4) What is your current mortgage payment?

2400 (15 years left)

5) What will be your new mortgage payment?

4400 (30 years),
I am thinking of paying 250k downpayment for the new house
Sell the TH and get around 400k, put it in the new house
After 3 years, get the 300K from RSU and also put it in the new house.
Then the loan would be reduced substantially.

6) What are you giving up by buying the new house?

Current TH is closer to high ways, very good location. But I don't interact with anyone in my neighborhood. Generally I like to talk to people, that I miss.
The TH, 1983 built, has not appreciated that much compared to other stories I have heard. Bought it at 500K 13 years ago.

"3.5 M (1M in 401k, 250K Cash, Rest: 85/15 Stocks and Bonds) "

7) Where are 2.25 millions goes?

2.25, 2.05 million is in VTSAX
200k is in 529

Statistics: Posted by siankisr — Fri May 03, 2024 8:42 pm — Replies 3 — Views 278

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