As someone whose parents were "too poor" to own a home, let alone investments, I can appreciate how difficult it is for some folks to realize the true value of "paying themselves first" by putting aside some portion of their paycheck towards saving for a down payment on a house and investing for the future. And no, they did not spend foolishly or make rash financial decisions; they just never learned to save. They lived in the same rented 900 s/f bungalow in Detroit for 15 years and had nothing to show for it when Dad passed away in it in 1972 forcing Mom to enter the workforce for the first time in her life at 45 years old. Luckily, she was able to get a good job and was able to support herself until she remarried three years later to a gentleman who owned a home and roofing business that she helped run.
Gracias Chris,
Math never lies ... >;o)
Carlos
Agreed. Home ownership is a great foundation for building financial wealth.
As someone whose parents were "too poor" to own a home, let alone investments, I can appreciate how difficult it is for some folks to realize the true value of "paying themselves first" by putting aside some portion of their paycheck towards saving for a down payment on a house and investing for the future. And no, they did not spend foolishly or make rash financial decisions; they just never learned to save. They lived in the same rented 900 s/f bungalow in Detroit for 15 years and had nothing to show for it when Dad passed away in it in 1972 forcing Mom to enter the workforce for the first time in her life at 45 years old. Luckily, she was able to get a good job and was able to support herself until she remarried three years later to a gentleman who owned a home and roofing business that she helped run.