ilmscore | Prediction Details
"I don't look at buying a home as this ability to build huge generational wealth and build my wealth because I want to build my wealth from rental properties I want to build my wealth from my stocks and I want to build my wealth from businesses that I build or own I don't want to build my wealth through paying down my home I know that's what a lot of people like to talk about but that's one of the worst ways to build wealth or build generation of wealth and if you don't believe me ask any wealthy person how they became wealthy and they'll tell you they became wealthy because they invested their money in stocks or they became wealthy because they invested their money in real estate or they became wealthy because they built a business or invested in a business or something along those lines they don't say that they became wealthy because they pay down their home so I'm not saying being a homeowner is bad just understanding how that plays a part in your Investment Portfolio and this is where now if I'm thinking about that home buying question it's not really should I buy a home or should I rent a home it's what's going to give me the ability to continue investing my money into the real things that's going to make me wealthy stocks real estate my own business or other businesses what's going to give me the ability to do that if I can own a home and I can keep doing that fine if I can't then I'll keep renting the key is to be able to live wherever you can afford that way you have the the money to buy the assets that will continue paying you that will continue making you wealthy instead of just stretching so thin just to own a home"
By Minority Mindset | February 15, 2024 | Pending
From video
My 10 Step Checklist To Become A Millionaire 00:24:50 - 00:26:05
Interpreted Prediction
Building generational wealth is best achieved through investing in stocks, real estate (rental properties), and businesses, rather than paying down one's primary residence. The focus should be on acquiring assets that generate income.

Prediction Details

Topic
Homeownership vs. Investing

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