Owning Your Own Home May Help You Retire Sooner
Millionaire's advice to Millennials - David Bach, A self-made millionaire who has written 9 consecutive New York Times bestsellers, was featured in an article in CNBC saying, "Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off."
Mr. Bach suggests that homebuyers should, "Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years."
Here is the secret on how to achieve this: Mr. Bach says, "if you were paying $1,000 a month, how you're going to make $1,100 payments eery month. Inform the bank that you are doing this and that you want the extra $100 to be applied to the…