Mainstream financial advice teaches you that your house is your most important investment.
I had to learn the hard way that this is not only untrue but actually dangerous to your financial freedom and your ability to build wealth.
When you don’t know anything about investing, and you believe that your house is an investment, you are willing and interested in buying a bigger, nicer house.
This is exactly what I did when I moved to Austin about 10 years ago for a new job.
Since the salary was a nice bump, and we believed we were investing, my wife and I looked at houses that were larger and nicer than we needed.
What else would we do with our money? We didn’t know at the time.
After buying a beautiful home in the suburbs, we thought we would be set for life.
We didn’t realize the damage that high mortgage and car payments do to wealth until we lived it firsthand.
Recently, I’ve seen several colleagues making this same mistake, so I wanted to highlight the concept to help you make better financial decisions...
If you want to read more, click the button below:Million-Dollar Prisons
Founder, Building Arks