David Pere
Marine Corps Veteran Calls Out Ramit Sethi for BAD VA Homebuying Advice
Snag a FREE copy of my book, and get connected to the Military Millionaire community on all of your favorite platforms: https://www.frommilitarytomillionaire.com/free-book
Join The War Room Mastermind, the only mastermind exclusively for service members and veterans striving to achieve financial freedom: https://www.frommilitarytomillionaire.com/mastermind-application
I'm sick of "financial gurus" scaring you out of buying a home!
- There are times when it makes sense to rent.
- There are times when it makes sense to buy.
- Personal finance is ...personal. That's why "it depends" is almost always the reality of conversations like this.
That said, if you believe that renting for 30 years will put you ahead of owning a home for 30 years, you are most likely wrong.
According to data from the Federal Reserve's Survey of Consumer Finances (2022), the median net worth of homeowners is approximately $255,000, compared to about $6,300 for renters.
Key Reasons Why Homeownership Increases Net Worth:
1. Equity Growth: As homeowners pay down their mortgage, they build equity in their home, which contributes to their net worth.
2. Appreciation: Real estate tends to appreciate over time. Although appreciation rates vary by market, the national average is around 3–5% per year.
3. Forced Savings: Mortgage payments act as a form of forced savings, ensuring that part of monthly expenses contributes to an asset.
4. Tax Benefits: Homeowners may benefit from deductions like mortgage interest and property taxes, which can improve their financial standing.
While the extent to which homeownership increases net worth depends on factors like market conditions, home value, and how long you own the property, it remains a key pathway to wealth-building in the U.S.
#militarymillionaire #homeownership #rentingvsbuying
-
Recommended books and tools: https://www.frommilitarytomillionaire.com/kit/
-
SUBSCRIBE: https://bit.ly/2Q3EvfE
-
Website: https://www.frommilitarytomillionaire.com/
Instagram: https://www.instagram.com/frommilitarytomillionaire/
Facebook: https://www.facebook.com/groups/militarymillionaire/
-
My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase "I don't get paid enough" entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom!
-
Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!
