22yo saving for a house and car
Looking for guidance, I think I’m on the right track but I’m not sure where to go from here.
I take home about 50k a year right now, and expect to gradually move up as I gain experience.
My main financial goals in the short term (~5 years) are to:
own a house (150-200k in my area)
get a fun project vehicle (5-8k initially and then tinker as I have extra funds)
I am aware that a project car is a bad use of money, but it’s what I’ve always liked to do and I’ve given it up for a few years to let saving take priority.
First, I have no debt and never have, other than a credit card I pay off every month (735 credit score). I have a reliable daily driver that should last a while, so I don’t expect having to take a vehicle loan anytime soon.
Currently I have about 35k in retirement savings between Roth and traditional and I’m contributing 25% of pay
I have 10k in a HYSA as an emergency fund
And I have just over 15k sitting in savings for a house down payment
I’m thinking maybe I should put some or most of the 15k into ETFs or another relatively “safe” investment and then pull out before I buy?
Also how should I balance saving for a house vs saving for a fun car? They feel of equal priority to me but the timeline is somewhat flexible for both. Anywhere from 3-7 years from now would be fine and they don’t have to be simultaneous.
Posted May 10, 2026, 2:13 PM UTC