Hawaii

An Escalator to Wealth – Why You Should Buy a Home Now

94-1048 Aoku Street .09 Acres Land  1,560 Total SF  |  3BR / 2BA Offered for $735,000  |  MLS #201720330

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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 TimesWashington 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.

More Information

If you need any information about selling or about buying a home on Oahu, please contact me.
See you next time, MM
#mmsellshawaii #livethedream

About the Author

Michele McKinley

Michele faces new challenges directly and makes it work. Raised in San Diego, California, Michele started selling Real Estate in the late 1990s, she was selling new homes for an Orange County developer. Michele has sold over Sixty Million in transactions in her career. Michele attributes her success to a number of reasons, but mostly because she thoroughly enjoys her clients and gives each of them top priority. She knows how to utilize systems such as Transaction Management that frees up her time to do what she loves to do the most - connect with, support and represent her clients. Michele also loves to golf and spend time on the beach and with her 'ohana. You can email them at michele@hawaiilife.com or via phone at (808) 756-7099.

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