{"id":278,"date":"2018-08-07T00:59:12","date_gmt":"2018-08-07T00:59:12","guid":{"rendered":"http:\/\/renwre.info\/2018\/08\/07\/millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner\/"},"modified":"2018-08-07T00:59:12","modified_gmt":"2018-08-07T00:59:12","slug":"millionaire-to-millennials-owning-your-home-can-help-you-retire-sooner","status":"publish","type":"post","link":"http:\/\/renwre.info\/?p=278","title":{"rendered":"Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!"},"content":{"rendered":"
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\"Millionaire<\/p>\n

In a\u00a0CNBC\u00a0article<\/a>, 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.<\/em>\u201d\u00a0<\/span><\/p>\n

Bach suggests that homebuyers should, \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

How does he suggest you do this? Here\u2019s the secret:<\/strong><\/p>\n

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\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

What will happen to your mortgage?<\/strong><\/h4>\n

Bach explains that, \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

Bottom Line<\/strong><\/h3>\n

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

Who is David Bach?<\/strong><\/h4>\n

Bach is a self-made millionaire who has written nine consecutive\u00a0New York Times<\/em>\u00a0bestsellers. His book,\u00a0\u201cThe Automatic Millionaire,\u201d\u00a0<\/em>spent 31 weeks on the\u00a0New York Times<\/em>\u00a0bestseller list. He is one of the only business authors in history to have four books simultaneously on the\u00a0New York Times, Wall Street Journal, BusinessWeek\u00a0<\/em>and\u00a0USA Today\u00a0<\/em>bestseller lists.<\/p>\n

He has been a contributor to\u00a0NBC\u2019s\u00a0Today 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\u00a0New York Times, BusinessWeek, USA Today, People, Reader\u2019s Digest, Time, Financial Times,\u00a0Washington Post,\u00a0<\/em>the\u00a0Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors\u2019 Business Daily,\u00a0<\/em>and\u00a0Forbes.<\/em><\/p>\n<\/div>\n

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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 Continue reading Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!<\/span>→<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts\/278"}],"collection":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=278"}],"version-history":[{"count":0,"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts\/278\/revisions"}],"wp:attachment":[{"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=278"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}