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    Millionaire to Millennials: The Costly Mistake of Not Buying Now


    On his personal website, self-made millionaire David Bach makes a striking statement:

     “Not prioritizing homeownership is the single biggest mistake millennials are making.”

    He further stated, “Buying a home is an escalator to wealth.”

    Bach explains:

    “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none.”

    He then elaborates on the game of homeownership:

    “Start by crunching the numbers…actually do the math…This way, you’re really clear on your goals and you won’t just say to yourself, ‘I’ll never afford this!’

    A good rule of thumb is to make sure your total monthly housing payment doesn’t consume more than 30 percent of your take-home pay.”

    Bach concludes by saying,

    “Oftentimes, buying your first home means you’re not buying your dream home…You’re just getting into the market.”

    Bottom Line

    Whenever a well-respected millionaire gives investment advice, listeners usually clamor to hear it. This millionaire shares some simple and straightforward insights: “The fact is, you aren’t really in the game of building wealth until you own some real estate.”

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    Jade was amazing, we loved her always on top of everything. She knew what we were looking for and always delivered like she was one step ahead. She was great at scheduling viewings when it was convenient for us, always with a great attitude. Jade made purchasing the home an amazing experience!
    Karen Y