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Tuesday, March 28, 2017

Millionaire to Millennials - Buy Now!

"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." - is a quote from Self-made millionaire David Bach. Imagine 38 TIMES WEALTHIER. I believe this is the first time I am sharing this story going back to mt grandparents. We are talking the German side here - the homeowner side of the family. I recall both grandparents telling me they sacrificed everything to get their first home. Food budget was minimal (my mom and her siblings confirmed this) - no such thing as vacations or new furniture or anything else for that matter. They believed that once they got their home and settled in on the monthly payment amount, their earnings would increase but their payment, unlike rent, remained pretty much the same and gradually they got things they needed and life got better. They were happy not to pay rent - also known as somebody else's mortgage. Their values were solid and apply today for those willing to make sacrifices to get the first home. Once you have achieved that purchase of your first home you have crossed the bridge to increased wealth. Age does not matter that much - I have seen people of all ages buy their first home. I did that once! For more about why you should buy - and buy now - read today's article - then call me - let's do it