giacona

ok here is my situation 28 male not married. I own a home I may not be able to keep. 50% chance I have to short sale it. I wont know this until sometime in the spring. If I do it will be a releif because this home has costed me more pain the pleasure.

Anyway my question is if I rent for a while and don't own a home again can I still have a decent retirement? I still plan to use my roth ira, 401k and max them out. I know people use their paid for home as a portion of retirement. The sell it and relocate and buy something cheaper.

I want to buy a home again but also don't want to spend the rest of my life renting. I met with financial advisors and they showed me charts if I contibute X amount of dollars into fund A for X amount of years and the fund averages 12% I can wind up wealthy by 60.

Would I be better of renting and buying something when I have a nice nest egg in my retirement accounts? I am also just afraid rents will be so high with inflation that owning may be the better option. For example by grandma has had her home since 79 back then she rented out a 2 bedroom for 400 per month and now she gets 1200 for the same apartment.

The only advatage I like about owning is the tax right off. Other than that in my opnion it stinks. Next time around I think i want to go for a condo/townhome so there is no maintenace.


I just really need advice on this.

Thanks