RossMery  Mosquera

RossMery Mosquera

Salesperson, REALTOR®

Winzone Realty Inc.

Mobile:
917-515-9783
Office:
(917) 515-9783
Email Me
RossMery  Mosquera

RossMery Mosquera

Salesperson, REALTOR®

Winzone Realty Inc.

Mobile:
917-515-9783
Office:
(917) 515-9783
Email Me

Queens, NY Real Estate | Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!

Queens, NY Real Estate | Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!

Queens County NY Real Estate Search homes for sale and MLS listings in Queens County, New York.

Local information: 3025 houses for sale, 1037 condos, 0 foreclosure listings. Compare schools, property values, and mortgage rates.

 

•Astoria  

 •Jamaica Estates    

 •Long Island City    

•Sunnyside

•Forest Hills

 •Kew Gardens

•Howard Beach

•Bayside

•Glendale 

 •Elmhurst

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Our topic today Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!

In a CNBC article, self-made millionaire David Bach explained that: “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.” 

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.”

How does he suggest you do this? Here’s the secret:

“…If you were paying $1,000 a month, now you’re 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).”

What will happen to your mortgage?

Bach explains that “If you keep this up, you’ll wind up paying off your 30-year mortgage in about 25 years. Increase your monthly payment by 20 percent, and you’ll have that mortgage retired in about 22 years.”

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – buy a home and pay off your mortgage early so that you can retire sooner with the money you will have saved!

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is 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.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

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Source... KCM RossMery Blog http://nyhomesforsale.blog/

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To protect your interest, it is necessary that you have a knowledgeable agent working for you. Who is an expert in the local market and ensure that you make the best possible decisions?

We all are dedicated to keeping you on top of our local market. 

To reach us, please call/ text 917-515-9783

Or email us rossmery@nycteamrealty.com

Search for the newest listings in Queens NY by map (click picture below)

 

Comments

I read this article as of

I read this article as of late and I care for about this. It can help me in brighten the place in most ideal way. I figure you completed an awesome activity, extraordinary work and get the best essay ever from us. It is the most ideal path for pulling in each one, along these lines we can spare numerous things and intending to assemble a nursery.

Homeownership is perhaps

Homeownership is perhaps everyone's dream, but unfortunately, not everyone qualifies for a mortgage loan. Also, there are people who prefer to rent than buy, the benefits are similar, minus the retiring part. Regardless of the preferences, a Nevada real estate agent will help those who want to find a property that meets their needs in this beautiful region.

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