Today, I discuss the decision that many millennials are faced with when they reach their 30s. "Do I really need to buy a home"? The 2008 market crash sent many middle-class and lower-income families into a financial spiral that we have yet to forget. And after 2 of the most notably economically strained years that we have faced in the 21st century, we begin to feel the similarities between 2020/2021 & 2008 come true. Does this mean there is another market crash coming? Do we need to be ready for another economic depression? Or are we just a little paranoid from last time? Adults in the Millennial generation have been pressured by their parents to go to college and invest in real estate or buy a home as they reach adulthood. Sure, at one point, this may have been sound advice. You could invest in a nice family home with leftover liquidity a few decades ago. But is this really as applicable now as it was back in the glory days? My generation, although being a pivotal part of the modern tech industry & investment trends, holds over 30% of national debt for student loans. Crazy right? Some haven't even moved out of Mom and Dad's place yet, so it raised the questions again. Will millennials ever benefit from buying a home? Is it bad advice or maybe just not the right time? Are there ways to maximize your liquid assets besides being bound to the financial handcuffs of a 30-year mortgage? We as millennials have the chance to break the cycle and build a new life, debt-free, with optimal investment options. Find out more on this episode about why I chose not to buy a home. Listen to New Zen Business episodes Every Monday! - Available on Spotify, Apple Podcasts, Overcast & More - Find me on Instagram @itsjmaxim - where you can view my Business Thoughts and Lifestyle Tips. Check Out My Digital Growth Hacking Company, KJgrowth.com or @kjgrowth on IG

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related