[wcc]

POP - Saving isn't 'nothing' it is HARD work. When graduated HS I was sent out in the world. I worked a couple years not getting anywhere. I then joined the Military and signed up for the GI Bill and saved, saved, and saved. Did I mention that I saved? Anyways, when I got out 4 years later I had enough from my savings and GI Bill to get through College (BSCE @ MSU). Then I started my career. But in the mean time I lived very reasonably while I continued to save here and there. When I met my wife and we bought our first house we had saved 10% down. Trust me it was no 50-100k but, to us, it was a lot of money. The bank saw that we were a good risk and they loaned us the money. Yes, we had to pay PMI insurance because we didn't have the 20% down like they wanted. We payed extra as we could and after a couple of years we re-financed showing we had more then the 20% equity to get rid of the PMI. Plus it was a lower interest rate so it was a win win for us. We are still in our first house with a plan to pay it off in less then 10yrs. Rich? I don't think so, we just don't live beyond my means. In the meantime I have a pretty good amount in my 401k because when I was single I maxed it out. Now that I have a family it doesn't get maxed out but it's still a pretty good amount. The wife maxes her 401k out. But everytime I get a raise I raise my contribution the same amount. I'll keep doing this until it's maxed out. I've heard over and over from all kinds of advisors it's not a good idea to borrow against it. I'm not a financial advisor so I can't tell you all the details. But I wouldn't do it IMO. I would save and adjust my lifestyle if need be.