{"id":2066,"date":"2018-02-06T11:00:15","date_gmt":"2018-02-06T11:00:15","guid":{"rendered":"https:\/\/thezakariagroup.com\/millionaire-to-millennials-dont-rent-a-home-buy\/"},"modified":"2018-02-06T11:00:15","modified_gmt":"2018-02-06T11:00:15","slug":"millionaire-to-millennials-dont-rent-a-home-buy","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/millionaire-to-millennials-dont-rent-a-home-buy\/","title":{"rendered":"Millionaire to Millennials: Don\u2019t Rent a Home\u2026 Buy!"},"content":{"rendered":"
\n

\"Millionaire<\/p>\n

In a\u00a0CNBC\u00a0article<\/a>, self-made millionaire David Bach explained that:\u00a0\u201cThe biggest mistake millennials are making is not buying their first home.\u201d<\/em><\/strong> He goes on to say that, \u201cIf you want to build real financial security, real wealth for your lifetime, then you need to buy a home.<\/em>\u201d<\/span><\/p>\n

Bach went on to explain:<\/p>\n

\n

\u201cHomeowners are worth 40 times more than renters. Now, that first home doesn\u2019t 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\u2019s how you get started.\u201d<\/em>\u00a0<\/em><\/p>\n<\/blockquote>\n

Then he explains the secret in order to buy that home<\/strong>!<\/p>\n

\n

\u201cDon\u2019t do a 30-year mortgage<\/strong>. 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<\/strong>, that means you\u2019ll be able to retire in your fifties. Number two, you\u2019ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).\u201d<\/em><\/p>\n<\/blockquote>\n

What will it cost to pay your mortgage in fifteen years<\/strong>? He explains further:<\/p>\n

\n

\u201cFor fifteen years, you got to brownbag your lunch<\/strong>. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You\u2019ll have real wealth, because you bought a home \u2013 you\u2019re not a renter. And you\u2019ll be financially secure for life.\u201d<\/em><\/p>\n<\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice \u2013 if you don\u2019t yet live in your own home, go buy one.<\/p>\n

Who is David Bach?<\/strong><\/h4>\n

Bach is a self-made millionaire who has written nine consecutive\u00a0New York Times\u00a0<\/em>bestsellers. His book,\u00a0\u201cThe Automatic Millionaire,\u201d<\/em>\u00a0spent 31 weeks on the\u00a0New York Times\u00a0<\/em>bestseller list. He is one of the only business authors in history to have four books simultaneously on the\u00a0New York Times, Wall Street Journal, BusinessWeek\u00a0<\/em>and\u00a0USA Today<\/em>\u00a0bestseller lists.<\/p>\n

He has been a contributor to\u00a0NBC\u2019s\u00a0Today Show<\/em>,\u00a0appearing more than 100 times, as well as a regular on\u00a0ABC, CBS, Fox, CNBC, CNN, Yahoo, The View,\u00a0and\u00a0PBS. He has also been profiled in many major publications, including\u00a0the\u00a0New York Times, BusinessWeek, USA Today, People, Reader\u2019s Digest, Time, Financial Times,\u00a0Washington Post,\u00a0<\/em>the\u00a0Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors\u2019 Business Daily,\u00a0<\/em>and\u00a0Forbes.<\/em><\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

In a\u00a0CNBC\u00a0article, self-made millionaire David Bach explained that:\u00a0\u201cThe biggest mistake millennials are making is not buying their first home.\u201d He goes on to say that, \u201cIf you want to build real financial security, real wealth for your lifetime, then you need to buy a home.\u201d Bach went on to explain: \u201cHomeowners are worth 40 times […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,109,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nMillionaire to Millennials: Don\u2019t Rent a Home\u2026 Buy! - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-dont-rent-a-home-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Millionaire to Millennials: Don\u2019t Rent a Home\u2026 Buy! 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