@LorieKonish put together a great article for @CNBC explaining how Millennial’s path to retirement is seriously hampered if they owe on student loans.
Rather obvious. But she did give a few good tips (including funding tax-favorable 401K and IRAs) to addressing the problem and regain ground.
What’s not so obvious is that home ownership is also hampering our path to retirement.
There is perhaps no bigger ball and chain weighing us down than home ownership. And, worse still, it is a silent killer, friendly fire, because conventional wisdom would have us believe the house is the best investment we can make.
Facts are and data shows that it is just NOT true. There’s a growing majority coming to realize they are better off if they http://bit.ly/RentYourWayToFreedomBook and route money to investments in the market rather than a money pit of home.
The first line of Lorie’s article may as well have read: “If you have own a house student loans, watch out. Your retirement wealth may be reduced.”
Why?
Unconventional wisdom, of the kind detailed in Rent Your Way To Freedom would show a house is NOT the best investment we can make.
Further still, that house is very big constraint on our path to retirement.