Advice For Millenials

Dated: 10/11/2017

Views: 90

Millionaire To Millennials: Buy A Home Now!

Millionaire to Millennials: Buy a Home Now!



In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.”

Bach went on to explain:

“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!”

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.



Source: Keeping Current Matters

Want to Advertise on this Site?

Latest Blog Posts

4 Reasons December Is Favorable For Buyers

4 Reasons December Is Favorable for Buyers DAILY REAL ESTATE NEWS | FRIDAY, DECEMBER 08, 2017 Many home shoppers don’t think about purchasing a house during the holiday months—many even put

Read More

5 Great Tips For First Time Home Buyers

No matter how much time you spend on researching and educating yourself about your home purchase, it's hard to cover every detail. Here are a few tips for avoiding rookie mistakes with your;

Read More

Home Prices Up 7 Percent From Last Year

Home Prices Up 7% From Last YearAccording to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This

Read More

5 Reasons To Sell This Winter

5 Reasons to Sell This Winter! Here are five reasons listing your home for sale this winter makes sense. 1. Demand Is Strong The latest Buyer Traffic

Read More