The Biggest Mistake Millennials are Making

August 13, 2019

So who is David Bach you ask? Heโ€™s a self-made millionaire who has written 9 consecutive ๐˜•๐˜ฆ๐˜ธ ๐˜ ๐˜ฐ๐˜ณ๐˜ฌ ๐˜›๐˜ช๐˜ฎ๐˜ฆ๐˜ด bestsellers. His book, ๐˜›๐˜ฉ๐˜ฆ ๐˜ˆ๐˜ถ๐˜ต๐˜ฐ๐˜ฎ๐˜ข๐˜ต๐˜ช๐˜ค ๐˜”๐˜ช๐˜ญ๐˜ญ๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ช๐˜ณ๐˜ฆ, spent 31 weeks on the ๐˜•๐˜ฆ๐˜ธ ๐˜ ๐˜ฐ๐˜ณ๐˜ฌ ๐˜›๐˜ช๐˜ฎ๐˜ฆ๐˜ด bestseller list. He is one of the only business authors in history to have 4 books simultaneously on the ๐˜•๐˜ฆ๐˜ธ ๐˜ ๐˜ฐ๐˜ณ๐˜ฌ ๐˜›๐˜ช๐˜ฎ๐˜ฆ๐˜ด, ๐˜ž๐˜ข๐˜ญ๐˜ญ ๐˜š๐˜ต๐˜ณ๐˜ฆ๐˜ฆ๐˜ต ๐˜‘๐˜ฐ๐˜ถ๐˜ณ๐˜ฏ๐˜ข๐˜ญ, ๐˜‰๐˜ถ๐˜ด๐˜ช๐˜ฏ๐˜ฆ๐˜ด๐˜ด๐˜ž๐˜ฆ๐˜ฆ๐˜ฌ, and ๐˜œ๐˜š๐˜ˆ ๐˜›๐˜ฐ๐˜ฅ๐˜ข๐˜บ bestseller lists. Here are a few other things he says:

โ€œBuying a home is an escalator to wealth. Young adults in particular arenโ€™t hopping on this escalator, and itโ€™s a costly mistakeโ€ฆIf millennials donโ€™t buy a home, their chances of actually having any wealth in this country are little to none.โ€

โ€œStart by crunching the numbersโ€ฆactually do the mathโ€ฆThis way, youโ€™re really clear on your goals and you wonโ€™t just say to yourself, โ€˜Iโ€™ll never afford this!โ€™ A good rule of thumb is to make sure your total monthly housing payment doesnโ€™t consume more than 30 percent of your take-home pay.โ€

Bottom line, letโ€™s at least have a conversation about this and let us help you crunch the numbers. Your Realtor Matters.