The Pros & Cons of Homeownership #2: Wealth Destruction: Financial Freedom, #203
By Joshua King
()
About this ebook
The housing industry wants you to spend every dime on your house. If you don't have a plan, that's precisely what will happen.
Owning a home is expensive and can become even more costly when you attach emotions to the situation.
Therefore, you must have an overall wealth plan before buying a home. Do you want to help your kids through college or with their wedding?
Knowing these things is vital to understanding how much you can safely spend on your home while preserving your financial ability to provide for yourself and your kids. It's tough. Good Luck!
Read more from Joshua King
Financial Freedom
Related to The Pros & Cons of Homeownership #2
Titles in the series (100)
America is Expensive: So What Are You Going to do About It?: Financial Freedom, #18 Rating: 0 out of 5 stars0 ratingsInvesting for Interest 8: The Magic of CD Ladders: Financial Freedom, #8 Rating: 0 out of 5 stars0 ratingsThe 1-Page Budgeting Plan: Financial Freedom, #4 Rating: 0 out of 5 stars0 ratingsMinimalist Budget: Financial Freedom, #1 Rating: 4 out of 5 stars4/5Retirement Planning for the Average Person 4: Build a Better Tomorrow Today: Financial Freedom, #5 Rating: 0 out of 5 stars0 ratingsDebt-Free Society: Beat Wedding Debt: Financial Freedom, #6 Rating: 0 out of 5 stars0 ratingsStart A Tutoring Business Towards Passive Income: Financial Freedom, #22 Rating: 0 out of 5 stars0 ratingsThe Sharing Economy vs. Inflation: Unlock Wealth & Happiness: Financial Freedom, #20 Rating: 0 out of 5 stars0 ratingsYour 401K vs. A Recession: Unlock Your Money & Your Freedom: Financial Freedom, #3 Rating: 0 out of 5 stars0 ratingsPlay Video Games for Passive Income: Financial Freedom, #7 Rating: 0 out of 5 stars0 ratingsSmall City: Passive Income. Great Retirement.: Financial Freedom, #14 Rating: 0 out of 5 stars0 ratingsJoin Up!: Time to Sign Up for the Military: Financial Freedom, #4 Rating: 0 out of 5 stars0 ratingsIs $75,000 A Year: The Magic Happiness Number?: Financial Freedom, #16 Rating: 0 out of 5 stars0 ratingsBudget Like a Pro: Financial Freedom, #2 Rating: 0 out of 5 stars0 ratingsConsulting in the Metaverse: Be in Multiple Places at Once: Financial Freedom, #9 Rating: 0 out of 5 stars0 ratingsThe Stock Market: Is Not A Wealth Generator: Financial Freedom, #17 Rating: 0 out of 5 stars0 ratingsFIRE Writer: Retire & Write: Financial Freedom, #41 Rating: 0 out of 5 stars0 ratingsCoaching in the Metaverse: Assisting Your Clients with Fitness, Health, Wealth, and Life: Financial Freedom, #11 Rating: 0 out of 5 stars0 ratingsBuy the Dip! The Magic of Averaging Down: Financial Freedom, #10 Rating: 0 out of 5 stars0 ratingsAdvertising in the Metaverse: Financial Freedom, #13 Rating: 0 out of 5 stars0 ratingsSpend Smart: Financial Freedom, #3 Rating: 0 out of 5 stars0 ratingsThe Maintenance of a Great Life #1: Relationships: Financial Freedom, #31 Rating: 0 out of 5 stars0 ratingsThe Magic of Leverage: Use Carefully to Accelerate Your Gains: Financial Freedom, #12 Rating: 0 out of 5 stars0 ratingsDon’t Fumble the Bag: Convert Opportunities into Success: Financial Freedom, #27 Rating: 0 out of 5 stars0 ratingsJust Rewards: Credit Cards vs. Debit Cards: Financial Freedom, #44 Rating: 0 out of 5 stars0 ratingsThe Magic of Remote Work: Remote Work is Just the Beginning: Financial Freedom, #28 Rating: 0 out of 5 stars0 ratingsEmergency Cash: How Much Do You Need in an Emergency Fund?: Financial Freedom, #2 Rating: 0 out of 5 stars0 ratingsHome Cash: House Hacking vs. Online Business: Financial Freedom, #19 Rating: 0 out of 5 stars0 ratingsStart a Food Truck Business towards Passive Income: Financial Freedom, #15 Rating: 0 out of 5 stars0 ratingsThe Emotional Roller Coaster of Debt: Stress. Anxiety. Fear.: Financial Freedom, #24 Rating: 0 out of 5 stars0 ratings
Related ebooks
House Hacking to Defeat Credit Card Debt: Financial Freedom, #146 Rating: 0 out of 5 stars0 ratingsFinancial Freedom Road Trip #3: Rental Income: Financial Freedom, #180 Rating: 0 out of 5 stars0 ratingsSaving for a House Down Payment #5: Family, Small City: Financial Freedom, #59 Rating: 0 out of 5 stars0 ratingsWhat I Learned From Having Tenants for 10 Years: Financial Freedom, #152 Rating: 0 out of 5 stars0 ratingsThe Pros & Cons of Homeownership #1: Wealth Creation: Financial Freedom, #202 Rating: 0 out of 5 stars0 ratingsSaving for a House Down Payment #1: Single Person, Small City: Financial Freedom, #25 Rating: 0 out of 5 stars0 ratingsThe Road to Homeownership #3: Saving for the Down Payment: Financial Freedom, #184 Rating: 0 out of 5 stars0 ratingsMake Your Primary Residence Your Retirement Plan: Financial Freedom, #79 Rating: 0 out of 5 stars0 ratingsIs Homeownership Still The American Dream?: Financial Freedom, #166 Rating: 0 out of 5 stars0 ratingsSaving for a House Down Payment #6: Family, Big City: Financial Freedom, #60 Rating: 0 out of 5 stars0 ratingsThe Pros & Cons of Homeownership #3: Inflation Protection: Financial Freedom, #209 Rating: 0 out of 5 stars0 ratingsThe Road to Homeownership #1: Crunching the Numbers: Financial Freedom, #176 Rating: 0 out of 5 stars0 ratingsReal Estate 101: A Guide for Military Personnel Rating: 0 out of 5 stars0 ratingsMake Enough Passive Income to Cover Your Mortgage: Financial Freedom, #193 Rating: 0 out of 5 stars0 ratingsDiversify Your Home Equity: Protect Yourself with Multiple Investment Strategies: Financial Freedom, #99 Rating: 0 out of 5 stars0 ratingsCollege vs. Property: Which is the Better Investment for Your Children?: Financial Freedom, #85 Rating: 0 out of 5 stars0 ratingsHome Buying for the Average Person 2: Financial Freedom, #95 Rating: 0 out of 5 stars0 ratingsLearn to Barter and Trade Today: How to Prepare for the New World: Financial Freedom, #133 Rating: 0 out of 5 stars0 ratingsBecome Middle-Class Plus: Insert Growth Multipliers Into Your Life: Financial Freedom, #157 Rating: 0 out of 5 stars0 ratingsFive Ways to Make Rental Income: Without Owning Rental Properties: Financial Freedom, #175 Rating: 0 out of 5 stars0 ratingsTurn a Reverse Mortgage Into an Income-Investing Portfolio: Financial Freedom, #138 Rating: 0 out of 5 stars0 ratingsWhy Rents Will Continue to Rise: Financial Freedom, #139 Rating: 0 out of 5 stars0 ratingsThe Essential First-Time Home Buyer's Book: How to Buy a House, Get a Mortgage, And Close a Real Estate Deal Rating: 0 out of 5 stars0 ratingsMinimalism is Now a Necessity: We Can No Longer Afford Stuff: Financial Freedom, #162 Rating: 0 out of 5 stars0 ratingsThe Road to Homeownership #2: Reducing Emotions: Financial Freedom, #177 Rating: 0 out of 5 stars0 ratingsDebt-Free Society: Beat Wedding Debt: Financial Freedom, #6 Rating: 0 out of 5 stars0 ratingsLiving in 1,000 Square Feet: As A Family of Four: Financial Freedom, #142 Rating: 0 out of 5 stars0 ratingsThe 100-Year Mortgage is Coming: How to Position Your Family to Avoid It: Financial Freedom, #218 Rating: 0 out of 5 stars0 ratingsWatch Your A.R.M.s Should You Get an Adjustable Rate Mortgage?: Financial Freedom, #65 Rating: 0 out of 5 stars0 ratings
Business For You
The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5Law of Connection: Lesson 10 from The 21 Irrefutable Laws of Leadership Rating: 4 out of 5 stars4/5Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Becoming Bulletproof: Protect Yourself, Read People, Influence Situations, and Live Fearlessly Rating: 4 out of 5 stars4/5Leadership and Self-Deception: Getting out of the Box Rating: 4 out of 5 stars4/5Just Listen: Discover the Secret to Getting Through to Absolutely Anyone Rating: 4 out of 5 stars4/5Summary of J.L. Collins's The Simple Path to Wealth Rating: 5 out of 5 stars5/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5Set for Life: An All-Out Approach to Early Financial Freedom Rating: 4 out of 5 stars4/5Collaborating with the Enemy: How to Work with People You Don’t Agree with or Like or Trust Rating: 4 out of 5 stars4/5Emotional Intelligence: Exploring the Most Powerful Intelligence Ever Discovered Rating: 5 out of 5 stars5/5The Five Dysfunctions of a Team: A Leadership Fable, 20th Anniversary Edition Rating: 4 out of 5 stars4/5Summary of Eve Rodsky's Fair Play Rating: 2 out of 5 stars2/5Tools Of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers Rating: 4 out of 5 stars4/5Lying Rating: 4 out of 5 stars4/5How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off Rating: 0 out of 5 stars0 ratingsThank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations Rating: 4 out of 5 stars4/5The Catalyst: How to Change Anyone's Mind Rating: 4 out of 5 stars4/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5High Conflict: Why We Get Trapped and How We Get Out Rating: 4 out of 5 stars4/5Robert's Rules Of Order Rating: 5 out of 5 stars5/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5Robert's Rules of Order: The Original Manual for Assembly Rules, Business Etiquette, and Conduct Rating: 4 out of 5 stars4/5
Reviews for The Pros & Cons of Homeownership #2
0 ratings0 reviews
Book preview
The Pros & Cons of Homeownership #2 - Joshua King
Table of Contents
MILITARY FAMILY INVESTING | Joshua King | Home of the Free PDF
The Pros & Cons of Homeownership #2
All Right Reserved Military Family Investing | 01 The Pros & Cons of Homeownership #2: Wealth Destruction
02 Your First Home: Investment Property or Dream House?
03 Money & Marriage
04 Five Signs That Your City Is Too Expensive For You
05 Millennials, Homeownership, & Kids
06 Give Your Kids a Different Path
07 House Rich Cash Poor
08 Home Maintenance Budget vs. Emergency Fund
09 Homeownership Will Only Be For The Rich
10 Is It Difficult to Own Multiple Homes?
Try Something New -Free PDF Download
Sign up for Joshua King's Mailing List
Also By Joshua King
MILITARY FAMILY INVESTING
Joshua King
Home of the Free PDF
www.militaryfamilyinvesting.com
The Pros & Cons of Homeownership #2
Wealth Destruction
01 The Pros & Cons of Homeownership #2: Wealth Destruction
02 Your First Home: Investment Property or Dream House?
03 Money & Marriage
04 Five Signs That Your City Is Too Expensive For You
05 Millennials, Homeownership, & Kids
06 Give Your Kids a Different Path
07 House Rich Cash Poor
08 Home Maintenance Budget vs. Emergency Fund
09 Homeownership Will Only Be For The Rich
10 Is It Difficult to Own Multiple Homes?
Free PDF Download
PDF of the Month: Don’t Gamble with Retirement 11 (Free 410-Page PDF)
Free PDF Downloads: Download FREE PDF LIST here
Financial Mindset: Become CEO of Yourself 2 (Free 196-Page PDF)
Retirement Planning: Your Retirement Planning Guide 2 (Free 255-Page PDF)
Investing: How We Plan to Retire on Dividends 4 (Free 139-Page PDF)
Cryptocurrencies: Counting on Crypto 2 (Free 159-Page PDF)
Real Estate: Financial Independence through Real Estate 4 (Free 112-Page PDF)
Business: Retire Rich, Retire Comfortable with a Business 4 (Free 149-Page PDF)
Latest DGWR: Don’t Gamble with Retirement 11 (Free 410-Page PDF)
Everything!: The Biggest Book on Passive Income Ever 3! (book)(Web Edition)(Art Edition)
Writer’s Comparison: M1 Macbook Air vs. GalaxyBook3 Pro 360
Read My Books for Free: Free Kindle Books Schedule
Book Design: Design Tips on YouTube
Kindle Unlimited: Why I Finally Subscribed Kindle Unlimited (learn more)
Book Reviews: 505 Takeaways from 101 Books (pdf)
Writing: The Publishing Chronicles (Part 1, Part 2, Part 3, Part 4, Part 5)
Best REIT- Fundrise: Fundrise vs. US Treasuries (Join Fundrise)
Follow us: On our Facebook Page and Join our Facebook Group
Support the Channel on Cash App: $Kingmarine1981
For more detailed analysis, join my Youtube: MFI YouTube Channel
––––––––
PDF of the Month: Don’t Gamble with Retirement 11 (Free 410-Page PDF)
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
All Right Reserved Military Family Investing
01 The Pros & Cons of Homeownership #2: Wealth Destruction
The more I watch HGTV, the more I believe the housing industry created it to get people to spend money on their homes.
Owning a home can be the most expensive experience of your life if you let it. Unfortunately, many people have destroyed any chance of building wealth by focusing their wallets on their homes.
Welcome back to The Pros & Cons of Homeownership series (Part #1), where we tell the truth about what it means to be a homeowner.
You Can’t Get Rich By Acting Rich
The fastest way to destroy wealth. Every step of buying, owning, renting, and selling a home has major pitfalls that can lead to losing money.
Purchasing a home. The emotions you feel when you purchase your first home are surreal. If you are buying as a couple, you will have twice as many feelings to handle.
The housing and banking industries want you to purchase the most expensive home your income allows.
However, the numbers they quote aren’t necessarily the best fit for your budget. My wife and I overpaid for our first home in 2008, and we paid the price over 15 years.
As I watch HGTV, I see young couples spending $600,000+ on their first homes. These numbers are absolutely crazy and can lead to wealth destruction for 20 to 30 years.
Bonds for Life: I’m Buying 30-Year Bonds Over 4%
It’s important to remember that your budget may survive the cost of a large home. However, as your kids leave the house, you may not be in a financial position to assist them throughout life.
If ensuring your kids get a great jump start