Is home financing with 410K realistic and feasible for us?

Hello manyyuu, I also thank you for your honest answer. However, I believe you misunderstood me there. The death of a person close to us is obviously not a "nice-to-have" and was by no means evaluated as such by us. However, paying off the house after just 10 years would indeed be a "nice-to-have". In this respect, I cannot find anything morally questionable here.

Everything is fine. But stop wasting the money. Right now you still have a big monthly surplus and low fixed costs. With part-time work, two children, and tripled housing costs, the surplus will look different.

hello,
that should be feasible with your income. I don't know if the house price is valid, there are other professionals for that.

what strikes me, especially with your income. 0 provision for disability insurance & life (risk life insurance) and pension. Surely you want to maintain a good standard of living. Are there at least employer-provided direct insurance policies?

I would also never juggle funds I don't have. Better to plan solidly and, if you ask me, choose a secure 15 years.

Yes, I have noticed that too. Your only capital is your labor. I think that should be secured. Pensions, I don't know much about that. Maybe you will start your own business someday. A professional should handle that.

Otherwise, you have just finished studying and built up a considerable amount of equity. Take a look at what savings are possible. Because reserves are also necessary to carry out upcoming renovations/repairs. Obviously, you are not stupid.

Lawyers, as members of a liberal profession, are organized in professional pension schemes. This usually entails significantly higher pension entitlements than those of the statutory pension insurance (whether this will remain the case in the low-interest environment remains to be seen) as well as - albeit in a very restrictive form - disability insurance.

Accordingly, other insurances are not necessarily required, but rather depend on personal (risk) preference - one can also be overinsured. Especially since, in my opinion, a house provides a good retirement provision.

By the way, the savings rate for the first 2 years of the profession is perfectly fine, but should be increased with regard to the homeownership project!

OT: I always wonder why the hell a person who mainly works with their brain needs a disability insurance (BU)? I can still work even with severed hands. Only my head needs to function, and if the muscle is gone, I don't care about my BU either. We once had it shown for me (IT specialist) when a BU would really apply to me. I would almost have to be in a coma. BUs that are more generous then are hardly affordable. We are betting on the risk that nothing will happen in the next 10 years. After that, the house should be paid off enough so that at least the loan can be repaid through sale.