Hey kids!
This is my first topic and post that really outlines why i'm here. My wife and i have been slowly building our savings into long term options (401k, IRA, Roth IRA etc). We want to have a baby and set $100k of savings as a goal before we get started.
We got up to about $90 when our landlord said they're selling. We asked them when we got stared if this was an option and were told they were saving the house for retirement. "Great!" we thought and resigned ourselves to rent there forever. It's been a year since then. The rental market right now in SF is crazy, as of last year it's the fastest growing cost of rental prperty in the country at something like 14%!!! We do not want to move. It would double our rent and kill our current savings levels. My wife WILL NOT leave the city. She makes most of the money so i don't mind her entitlement on this point.
There's been a little drama back and forth, mostly because it's a flat in a TIC building.
Starting with about $10k in cash savings we have approximately 14 months to scrape together $120k.
My question is, other than saving everything we can and spending as little as possible, while picking up extra work where i can, is there anyway to invest that money into something that will give reasonable returns over a traditional savings account that i can get back within this time frame.
Please, if you can, give me details. I know there is a similar post on here about a guy wanting to buy a house, but the answers don't make sense to me. The general consensus seems to be keep it cash, but i don't understand why and i don't want to thread jack.
Can someone please explain? Videos, pictures and audio highly encouraged, I have trouble reading, but will plow through what ever i can get. :)
Peace