I have the MSI 760gm p23 fx motherboard and I'm thinking of buying a GTX 1070. Would this be able to work with it?
Yes it's compatible.
You also need to know if it gets enough QUALITY nutrition. The PSU powering such a high end card and the rest of your system is very important.
You also need to know if the card will fit in your case. Some 1070's are too long for some cases.
While I partially agree with Rob I also think that if you want the 1070 you should buy it. Just don't expect the awesomeness the 1070 is capable of until you upgrade to a new more powerful system. Even the 8350 isn't on par with that card.
Bare in mind that gpu tech moves very quick, so unless a cpu/mobo upgrade is going to happen in the next 6 months, its not worth getting a higher end card to wait, as by that point a better and cheaper card would be out.
I am planning on making a high end build in 6 months with better components but I was wondering if I should get the card now and use it temporarily or just save the money??
Vega GPUs should be out at the end of the year. Nvidia is teasing us with the 1080Ti which MIGHT be out in April. Probably going to get a closer look at the GDC on March 10th. The new 20** series is supposed to follow that release. And you don't plan on building for 6 months. I'd save and wait.