Do You NEED Real Estate To Build Wealth?
<p>Do you <strong>need </strong>real estate to build wealth?</p>
<p>It's a respectably debatable question.</p>
<p>The first question everyone should ask is, "What does wealth look like to me?"</p>
<p>For some, wealth equates to freedom, having six or seven figures in the bank, or having enough to cover bills, expenses, and some.</p>
<h2><strong>What does wealth look like for <em>you</em>?</strong></h2>
<p>Define this to help you create your financial roadmap.</p>
<h1>Homebuyers</h1>
<p>For some people who buy a home, it takes them 30 or more years to pay it off, and they never acquire more than one property.</p>
<p><strong>By the time they do pay the house off, what do they have?</strong></p>
<p><em>A paid-off house and money in retirement </em><strong><em>if</em></strong><em> they invested prudently. But for many, this is all they have, and the wealth they build is relatively similar to their fellow renters.</em></p>
<p>What is the point of being house-poor if you never have money?</p>
<h1><strong>Renters</strong></h1>
<p><strong>What does the renter have?</strong></p>
<p><em>It depends on what the renter does with their money.</em></p>
<p>If you're a renter and decide never to buy property, there are other definitive ways to build wealth, which could come via:</p>
<ol>
<li>Spending less than you earn.</li>
<li>Investing in non-real estate ventures.</li>
<li>Investing in digital real estate (REITs).</li>
</ol>
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