Since 2020 is an election year being conservative is your best option. If TRUMP is re-elected then you can start putting your $$$ in higher earning products. If a Democrat is elected all of the different markets are going to take cover and see what the new President and Congress will do. It...
In determining the amount of $$$ you will need you should consider that you will be self-supporting for 25-30 years. So a conservative amount might be
3500/month X (25x12). That would be roughly 1.1M less Social Security plus 4% inflation. Good Luck.
PMI is a real rip-off. You pay the premiums and it pays the lender the outstanding value of your loan if you default, and the lender also gets your house since it was collateral on the loan. Such a deal.