Millionaire To Millennials Buy A Home Now

Dated: 12/01/2017

Views: 56

Image title

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.


Get the free eGuide  "Things to Consider When Buying a Homeit will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.


Get your FREE Buyers guide here

Blog author image

Evelyn Suarez

Call/text 561-389-2449
Evelyn Suarez has dedicated her professional life to protecting the best interests of her clients. Buying or selling a home is the largest investment most people will ever....

Latest Blog Posts

If The Next Recession Is In 2020 What Will Be The Impact

Next Recession in 2020? What Will Be the Impact?Bottom Line:A recession is probably less than two years away. A housing crisis is not.  More Here >>  http://bit.ly:/

Read More

House Buying Power At Near Historic Levels

Bottom Line:Even though home prices are increasing rapidly and are now close to the values last seen a decade ago, the actual affordability of a home is much better now. AsChief EconomistMark

Read More

Rising Interest Rates Have Not Dampened Demand

Bottom Line:First-time homebuyers know the importance of owning their own homes and a spike in interest rates is not going to keep them from buying this year! Their biggest challenge is finding a

Read More

How Long Do Most Families Live In A House

What does this mean for housing?Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; they could be baby boomers living in an ,

Read More