Posted on Feb 21, 2017
Forever Broke: 15 Things Holding You Back From Becoming a Multi-Millionaire
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Posted 8 y ago
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This guy is clueless on #4; really bad advice. He totally ignores the fact that in many places what you pay for rent is more than what your house payment would be. If you rent, you are paying someone else' mortgage and will have nothing to show for the money when you move. If you purchase a home, you are paying your own mortgage and, in most cases, will get all of your money or more back when/if you sell. Even if you have to sell for less, the money you get back will still be more than the nothing you would get back from renting. Even if you only have $1 invested in, let's say, a $100K home, and you sell the home for, let's say, $125K, you get the entire profit despite the bank owning 99% of the home. There is not another investment opportunity in the world that works that well for you. Plus you get to write off mortgage interest on your taxes. If you have a home business, you get another tax deduction.
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