I’m 27 and put 17% of my income into my 401(k), but that’s keeping me from buying a home. What should I do?

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I’m 27 and put 17% of my income into my 401(k), but that’s keeping me from buying a home. What should I do?
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Dear MarketWatch, I'm 27 and contribute 17% to my 401(k). Should I lower this to save up for a home?

I am a single, 27-year-old male. I am beginning to save for a down payment on a home. I currently contribute about 17% to my 401. While that is great, it doesn’t leave me very much room to save for a new home. I am looking for perspective about lowering my 401 contributions to help save up for a down payment on a home, versus maintaining 401 and lengthening my home-buying timeline.First of all, congrats on contributing so much to your 401 - you’re in an elite minority.

If you’ve done that, some experts MarketWatch consulted with said that it’s OK for you to lower your 401 contributions — to a point, and for a short time — if you want to buy a home. . Certified financial planner Bobbi Rebell cautions that if you decide to lower your contributions to save for a home, you should still make sure you contribute at least enough to get the company match: “That is free money and often a return of 100% depending on the specifics of the plan,” Rebell, who is also the host of the Financial Grownup and co-host of the Money with Friends podcasts, adds.

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