This week I received a question from Sally P. She says:
I’m 32 years old, self-employed, and earn about $400,000 per year. I’ve saved $100,000 to buy a home but want to wait until I’ve saved a total of $200,000 to put down on a condo. The money is sitting in a savings account for now. I don’t have a retirement account and am wondering if I should fund one in addition to putting money aside for a condo. If so, how much should I invest and what type of account is best?