Last week,CNBCran anarticlequoting self-made millionaire David Bach explaining that not purchasing a home is"the single biggest mistake millennials are making"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 consecutiveNew York Timesbestsellers. His book, “The Automatic Millionaire,”spent 31 weeks on theNew York Timesbestseller list. He is one of the only business authors in history to have four books simultaneously on theNew York Times, Wall Street Journal, BusinessWeekandUSA Todaybestseller lists.
He has been a contributor toNBC’s Today Showappearing more than 100 times, has been a regular onABC, CBS, Fox, CNBC, CNN, Yahoo, The View,andPBS, and has been profiled in many major publications, includingThe New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, The Washington Post, The Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, andForbes.
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.
Author:Bonnie Lelak Phone: 404-788-2580 Dated: January 8th 2017 Views: 78 About Bonnie: Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program ho...
As a Realtor I have been able to use many of the skills that I have learned from my previous experiences. I spent the past 10 years owning a home inspection company with my husband and watched as buyers would find a home and then have it inspected and be disappointed with the findings. I love being able to help buyers from the start of the process. As a buyers specialist I can help clients look at homes with a different eye, always looking for tings that the home inspector will find issues with and helping my clients see possible issues before going under contract, saving them time, money and heart ache. Servicing all levels of buyers, from the first time home buyers to the luxury buyers. The finishing touch is being able to provide them with tools that can help them pay off their home in less than half the time. Helping buyers find their dream home is very rewarding.
As a listing specialist, I find unique ways to get the attention of the buyers, from text marketing, video, and getting your home listed on the first page of Google, it's all about exposure. I use all the outside marketing tricks and tips that I used and learned over the past 8 years to get the word out about your home. Contact me to find out about my exclusive marketing plan!
A study by Edelman Berland reveals that 33% of homeowners wh
"Bonnie is professional, honest and a pleasure to work with. This was our first home purchase and we really felt like she was in our corner, committed to finding us our dream house at a great price. And that's exactly what she did! She was really there for us, she listen to us and she was patient with us. We highly recommend her! "