David Bach

Oh, my God, you people, you're freaking idiots.

No.

First of all, you can't live inside your mutual fund.

You have to live somewhere.

If you don't wanna buy a house, don't buy.

Rent for the rest of your life.

It's totally fine with me, I don't care.

Just know that the person who's gonna get rich in the transaction is gonna be the person who owns your real estate that you're renting from.

And the last thing is people say, well, you know what you should do?

Rent something and put extra money in the stock market.

Phenomenal idea, except people don't do it.

The average person who's listening to me is not saving 10% of their gross income.

They're renting.

If they're renting, they're renting and they're living paycheck to paycheck.

If you are renting and you want to have this this hypothetical theory that the stock market will outperform owning real estate, you can't save 10% of your income.

You need to save 20% of your income.

And I don't meet too many people that save 20% of their gross income.

So look, it's a hard message to hear when you're young.

It's not easy to buy your first home.

You don't get to buy your dream home.