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Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One!

Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One! | Keeping Current Matters

In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”

Bach went on to explain:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”

Then he explains the secret to buying that home!

“Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”

What will it cost to pay your mortgage in fifteen years? He explains further:

“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

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.

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.


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Have You Set Up Personalized Posts Yet? | Keeping Current Matters

The post Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One! appeared first on Keeping Current Matters.

Where Did Americans Move in 2018? [INFOGRAPHIC]

Where Did Americans Move in 2018? [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Every year United Van Lines conducts their National Movers Study by tracking their customer’s movement state-to-state over the course of the year.
  • Vermont claimed the top spot of states with the highest percentage of inbound residents following a campaign that covered relocation costs for skilled workers who moved to the state.
  • The most common response for why someone relocated to another state was for a new job or company transfer.

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The post Where Did Americans Move in 2018? [INFOGRAPHIC] appeared first on Keeping Current Matters.

First Comes Love… Then Comes Mortgage? Couples Lead the Way

First Comes Love… Then Comes Mortgage? Couples Lead the Way | Keeping Current Matters

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2018 at 54% of all buyers. It is no surprise that buying a home is more attainable with two incomes to save for down payments and contribute to monthly housing costs.

However, many couples are also deciding to buy a home before spending what would be a down payment on a wedding. Last year, unmarried couples accounted for 16% of all first-time buyers.

If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2018, while single men accounted for 10% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to want to own their home, rather than rent.

Here is the breakdown of all first-time homebuyers in 2018 by percentage of all buyers, income, and age:

First Comes Love… Then Comes Mortgage? Couples Lead the Way | Keeping Current Matters

Bottom Line

You may not be that much different than those who have already purchased their first homes. Meet with a local real estate professional today to determine if your dream home is already within your grasp!


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The post First Comes Love… Then Comes Mortgage? Couples Lead the Way appeared first on Keeping Current Matters.



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Mary Chedsey
Broker/Owner
THE REAL ESTATE STUDIO

9193 E. Stanford Ave
Greenwood Village, CO 80111
Phone: 303-877-7211
mary@placesyoucallhome.com

Mary Chedsey
The Real Estate Studio
(303) 877-7211
9193 E. Stanford Ave
Greenwood Village, CO 80111
Mary@PlacesYouCallHome.com
Agent ID #239431

Copyright © 2015. Mary Chedsey, All Rights Reserved

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