A Great Way To Increase Your Family's Wealth!

Anonymous
Tuesday, September 3, 2019
A Great Way to Increase Your Family’s Net Worth Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). The homeowner net worth on this nationwide average is very low compared to what you can achieve in the Bay Area while I doubt that the average renter in our area is much above the national average for net worth! These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter. Owning a home is a great way to build family wealth. As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home. That is why Gallup reported Americans picked real estate as the best long-term investment for the sixth year in a row. According to this year’s results, 35% of Americans chose real estate. Stocks followed at 27%, then savings accounts and gold. Bottom Line If you want to find out how you can use your monthly housing cost to increase your family’s wealth, let’s get together to help you through the process. Call Steve NOW at 408-318-9628 to get you on your way to a significant net worth!