I’m moving houses and plan to cut my 401(k) contributions by 5% for two years to cover my expenses.
Moving is expensive, especially if you’re moving across the country. Most financial experts would advise against dipping into your retirement savings to fund a move. But this might not be an option, especially if you’re still young and have no plans to retire soon.
In a hypothetical example, Ashley is a 31-year-old who just got a promotion, but it requires moving across the country from her relatively affordable life in a suburb of Houston to San Jose, California, where the cost of living is 84% higher than the national average (1). Must Read – Robert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this ‘explosion’ – Prime US real estate was a rich person’s game — then something changed. Now everyday Americans are getting a piece of the action for as little as $100 – Millionaires under 43 are reshaping investing — just 25% of their portfolios are in stocks.