{"id":2435,"date":"2018-08-06T10:00:17","date_gmt":"2018-08-06T10:00:17","guid":{"rendered":"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/"},"modified":"2018-08-06T10:00:17","modified_gmt":"2018-08-06T10:00:17","slug":"millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/","title":{"rendered":"Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!"},"content":{"rendered":"<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"648\" height=\"354\" src=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/07\/26115322\/20180806-Share-STM.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner! | Simplifying The Market\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" srcset=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/07\/26115322\/20180806-Share-STM.jpg 750w, http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/07\/26115322\/20180806-Share-STM-549x300.jpg 549w\" sizes=\"(max-width: 648px) 100vw, 648px\"><\/p>\n<p>In a\u00a0CNBC\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/03\/09\/david-bach-buying-a-home-can-help-you-retire-early.html\">article<\/a>, self-made millionaire David Bach explained that:\u00a0\u201c<em>Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.<\/em>\u201d\u00a0<span id=\"more-37909\"><\/span><\/p>\n<p>Bach suggests that homebuyers should, <em>\u201cTake out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years.\u201d<\/em><\/p>\n<p>How does he suggest you do this? <strong>Here\u2019s the secret:<\/strong><\/p>\n<blockquote>\n<p><em>\u201c\u2026If you were paying $1,000 a month, now you\u2019re going to make $1,100 payments every month. Inform the bank that you are doing this and that you want the extra $100 a month to be applied to the principal (not the interest).\u201d<\/em><\/p>\n<\/blockquote>\n<h4><strong>What will happen to your mortgage?<\/strong><\/h4>\n<p>Bach explains that, <em>\u201cIf you keep this up, you\u2019ll wind up paying off your 30-year mortgage in about 25 years. Increase your monthly payment by 20 percent, and you\u2019ll have that mortgage retired in about 22 years.\u201d<\/em><\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice \u2013 buy a home and pay off your mortgage early so that you can retire sooner with the money you will have saved!<\/p>\n<h4><strong>Who is David Bach?<\/strong><\/h4>\n<p>Bach is a self-made millionaire who has written nine consecutive\u00a0<em>New York Times<\/em>\u00a0bestsellers. His book,\u00a0<em>\u201cThe Automatic Millionaire,\u201d\u00a0<\/em>spent 31 weeks on the\u00a0<em>New York Times<\/em>\u00a0bestseller list. He is one of the only business authors in history to have four books simultaneously on the\u00a0<em>New York Times, Wall Street Journal, BusinessWeek\u00a0<\/em>and<em>\u00a0USA Today\u00a0<\/em>bestseller lists.<\/p>\n<p>He has been a contributor to\u00a0NBC\u2019s\u00a0<em>Today 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\u00a0<em>New York Times, BusinessWeek, USA Today, People, Reader\u2019s Digest, Time, Financial Times,\u00a0Washington Post,\u00a0<\/em>the<em>\u00a0Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors\u2019 Business Daily,\u00a0<\/em>and<em>\u00a0Forbes.<\/em><\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a\u00a0CNBC\u00a0article, self-made millionaire David Bach explained that:\u00a0\u201cBuying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.\u201d\u00a0 Bach suggests that homebuyers should, \u201cTake out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, [&hellip;]<\/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":[98,99,109,101,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner! - 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-owning-your-home-can-help-you-retire-sooner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner! - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"In a\u00a0CNBC\u00a0article, self-made millionaire David Bach explained that:\u00a0\u201cBuying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.\u201d\u00a0 Bach suggests that homebuyers should, \u201cTake out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/\" \/>\n<meta property=\"og:site_name\" content=\"The Zakaria Group\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/thezakariagroup\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-06T10:00:17+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/07\/26115322\/20180806-Share-STM.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/\"},\"author\":{\"name\":\"\",\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/person\/3faf57a8142a13b0b75bddafdfe7ec5d\"},\"headline\":\"Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!\",\"datePublished\":\"2018-08-06T10:00:17+00:00\",\"dateModified\":\"2018-08-06T10:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/\"},\"wordCount\":342,\"publisher\":{\"@id\":\"https:\/\/thezakariagroup.com\/#organization\"},\"articleSection\":[\"First Time Home Buyers\",\"For Buyers\",\"Millennials\",\"Move-Up Buyers\",\"Rent vs. Buy\"],\"inLanguage\":\"en\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/\",\"url\":\"https:\/\/thezakariagroup.com\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/\",\"name\":\"Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner! 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