Suggestions for saving/portfolio

[102]

Hi

I've been browsing this forum for some time and want to thank you all for taking the time to post and share your knowledge with the newbies. I'm 29 and have saved up the amounts below.

I have no debts and I am starting to save up for a down payment on a house with my fiancé. She has $50k cash, but my savings are stored in investments. I want to pull out of my investments and save up to about $50k also (she is set on living in WA).

Here is my plan:
1) Reduce 401k contribution to 4% (match min)
2) Skip $6k annual IRA contribution for 2021, 2022, and beyond as needed
3) Take out $10k from IRA to help with dp.

Is pulling out and reducing IRA/401k allocation a good move? Looking at the investments I have below, does anyone have suggestions for a better performing/diverse portfolio?

Salary
$70000

401k (Principal)
$33000 VFIAX

Roth IRA (TD Ameritrade)
$8800 VTSAX
$4400 AMT/BAM/FB/PYPL/MSFT (equal allocation)
$2200 Unallocated

HSA 1 (TD Ameritrade)
$6600 VSMAX
$1500 MSFT

HSA 2 (Benefit wallet)
$3400 VITSX
$1000 Unallocated

Cash
$8000

[JoePublic3.14]

Man, tough situation with the given situation.

How much are you budgeting for a house?

What are your expenses? How does that compare to post house purchase expenses?

Does fiancé only have cash?

Lots of missing info, but I am inclined to say the Roth space is too valuable to forfeit. (Get that unallocated money in VTSAX on Tuesday!)

[Freedomin5]

What are your annual expenses like? Personally I would cut expenses to the bone or pick up a temporary second job  and save up for a downpayment that way before stopping maxing out my investment contributions and losing out on the benefit of investing young and benefiting from compounding. Pulling money out of retirement accounts is an even worse idea. That last option is basically current you robbing future you.

DH and I bought our first place shortly after getting married, when I was 30 and he was 32. We saved for two years. We saved his bonus money. I picked up part-time work. I was in grad school, and his income was $60k a year. So I know it’s doable to save up $50k without making your retirement accounts suffer.

[JustPassinThru]

I'm an expat out in China and i honestly see many people working in Shanghai or Beijing working a couple years and easily saving up more than 50K for a house.  Friends have bought houses in their home countries while working her.  The living expenses are just so cheap here that savings rates are astronomical.  Probably not worth leaving that 70k salary behind though. 

Hi

I've been browsing this forum for some time and want to thank you all for taking the time to post and share your knowledge with the newbies. I'm 29 and have saved up the amounts below.

I have no debts and I am starting to save up for a down payment on a house with my fiancé. She has $50k cash, but my savings are stored in investments. I want to pull out of my investments and save up to about $50k also (she is set on living in WA).

Here is my plan:
1) Reduce 401k contribution to 4% (match min)
2) Skip $6k annual IRA contribution for 2021, 2022, and beyond as needed
3) Take out $10k from IRA to help with dp.

Is pulling out and reducing IRA/401k allocation a good move? Looking at the investments I have below, does anyone have suggestions for a better performing/diverse portfolio?

Salary
$70000

401k (Principal)
$33000 VFIAX

Roth IRA (TD Ameritrade)
$8800 VTSAX
$4400 AMT/BAM/FB/PYPL/MSFT (equal allocation)
$2200 Unallocated

HSA 1 (TD Ameritrade)
$6600 VSMAX
$1500 MSFT

HSA 2 (Benefit wallet)
$3400 VITSX
$1000 Unallocated

Cash
$8000