Owning where you live is a critical element to the wealth equation. However, most are going about it the wrong way. We have all bought into the American dream. You know the one home, picket fence, 2.5 kids and a dog (or cat). How you get a half a kid I'm not sure but you get the point.
I want to challenge your thinking today though. Consider instead of buying that starter home right out of college, you leverage the same debt for a multi-family dwelling of some sort. It could be a duplex or 4 family dwelling or more. A place where you could live rent free while at the same time having a couple tenants pay the mortgage. Now that's the American Dream. The dream of capitalism it's just that we're fed that very dream from the wrong side of capitalism, the consumer side.
Check out today's replay of Talking Money in the Morning LIVE to get my complete thoughts on this topic and more below.
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Daily Book Excerpt: Today's excerpt came from: Think and Grow Rich - A Black Choice
by: Dr. Dennis Kimbro
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This months book list: My personal goal is to read 5 books per month.
See the books on the list for the month so far. Your purchase of these books through my affiliate link earns me a small commission which helps in the production of the show so by investing in yourself you're investing in me too.
1. Overcoming Time Poverty - Bill Quain, Ph.D
2. The 21 Day Financial Fast - Michelle Singletary
3. Are You Fired Up? - Anne Whiting
4. Think and Grow Rich, A Black Choice - Dr Dennis Kimbro
5. Help us choose our 5th book. Leave us a comment with your suggestions
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