Should I Start a 401k or Buy a Home?

Be Wealthy & Smart

Learn how I answer a listener question about whether an entrepreneur should start a 401k or buy a home?

Here is the listener question from Leigh:

Hi Linda, Thank you so much for your amazing podcast! I’ve been listening for about the past 6 months & I’m so inspired by you. I have a question about where to start growing wealth. I’ll be 40 next year. I’m an entrepreneur with a successful business 10 years strong. While my business is successful I haven’t saved anything because of poor money skills, putting most money back into my business, and the high cost of living in Southern California. Two years ago I decided to get serious about my finances. I’m proud to say I’ve cleaned up my credit which is now excellent, I have no debt, and I’m working towards maximizing profitability in my business which means I’ll be taking home quite a bit more starting this quarter including a I’d like to start investing towards my future, but I’m confused as where to start. My gut says investing in a home because rent is so high (currently paying $2,600 month). But I’m not sure if it’s smarter to start a 401k or open a brokerage firm and start investing there (I plan on joint your paid group). What would you recommend? Any insight would be greatly appreciated. In gratitude, Leigh

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