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Take Some Advice From a Millionaire - Buy, Don't Rent
Looking for some good advice on buying a home? Here's some from David Bach, a self-made millionaire who has written nine consecutive New York Times best-selling books. His book “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list.  He is also 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.
In a CNBC article, Bach talked about a mistake that people, especially millennials, are making: “The biggest mistake millennials are making is not buying their first home.” Bach also brought out that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”
Here are some more important points he revealed in the article:
“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”
“Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a ... more

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