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Growing your Wealth

Written by Posted On Sunday, 12 January 2014 03:41
Average Net Worth Average Net Worth
Growing your Wealth Sure you might be a tech guru, and invent the next Google, Facebook, etc., but what about the rest of us? What's the most likely way for the average person/family to build their net worth? It's real estate. I'm not talking about flipping houses, or get-rich quick schemes, I'm talking about owning your home. 

Did you know that, according to the Federal Reserve, the net worth of homeowners in America is 30x greater than that of renters? The average homeowner's net worth in our country is $174,500. A renter's net worth? It averages $5100! We've all heard "the rich get richer; the poor get poorer." Well home ownership can help bridge that gap.
Rents are rising at a significant rate. Shaun Donovan, the Secretary of Housing and Urban Development, said "We are in the midst of the worst rental affordability crisis that this country has known." 

Home ownership will not only allow a family to build memories and have a safe place for their kids; it will be the thing that builds the family's wealth over the years.

Bankrate recently asked Americans  their opinion on the best way to invest money. The top answers were cash investments, ( CD's/savings accounts)  and real estate. 

Whether you're a first-time buyer or a move-up buyer, give real estate serious consideration as a means of securing your family's future.
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