I’m 31 and in a very similar position. If you are truly maxing out your 401(k), that’s 15,000, and possibly 20,000 a year if your employer matches. Not sure how your plan works, but most folks can borrow 1/2 of their 401(k) to purchase a primary residence (up to 50K, which would mean you had 100K in your 401(k). Only downside is that if you lose your job or move to another company, you may have to repay immediately so be careful.
Regardless, if you are maxing that out, that by itself is almost 50K available in 5 years. If you can save on top (think annual bonus, other windfalls, tax refunds, etc.), you’ll get there very quickly.
Just keep at it…you’ll get there…I’m guessing we have similar salaries, and we’ve been able to get our 100K together in 5 years while giving 10% to our church.
