Millennial Warning Slow Down or Miss Your Turn

The Millennial Generation Loves To Travel

Most Millennial’s Grew up in a Baby Boomer Household Listening to their parents dream about vacations.

The Millennial Generation has reversed the traditional life plan. Planting Roots, Starting A Family and Settling into a Home planning an occasional vacation as they raise their children.  Seeing the world so to speak after the children are grown.

Today the Millennial mindset is there is plenty of time for that let’s see the world first. While they are young and have no major financial obligations like a house payment.

Living cost is low as they tend to either rent a room, share an apartment or still live at home. No children yet to feed, keep a roof over their head or pay for day care and the soccer team. In essence enjoying life before settling down.

OK this all makes a lot of sense and sound like fun. So why did the Baby Boomers do it the other way traveling later in life?

Who do you think is right the Millennial or the Boomer?

The answer will differ depending on whom you ask and where you want to be financially in the future. As people age so does the job market, although it is illegal to discriminate against age as people reach their fifties they find it difficult to compete in the market if for some reason they loose a job.

Boomers planted roots!

They started a family, purchased a home and put part of their early income in a retirement fund. The House Payment stayed the same and years later went away lowering the cost of living. Unlike rent that keeps going higher every year. The portion of income placed in a retirement account continued to grow over time allowing them to retire comfortably.

Millennial Travelers are spending most or all of what they make!

Sure it feels good now, however when they get around to settling down everything will be more expensive. How old would you like to be when you stop working? Make a timeline a typical home take 30 years to pay for and the payment is a percentage of the cost. So the sooner you buy the lower the payment and the sooner the payment goes away. The sooner you start funding a retirement account the sooner you will have enough to stop working. Raising and feeding children, lets say 2 children would take 20 -30 to raise. It seems paying off a home and raising 2 children take about 30 years each.

As you can see it is not a right or wrong however it is a Life Choice. How old do you want to be when you can afford to stop working?

If you are a Boomer share this with your Millennial Children.

If you are a Millennial and this makes sense to you make an appointment to talk about a middle ground game plan.

In many cases owning a home costs less than renting. If you are renting a room from someone you are contributing to their retirement. Ask us about low to no money down programs. Be one of the Millennial Generation whose friends pay for your retirement!

Hope you enjoyed reading the Millennial Game Plan.

Millennial Board Games Article

 

Millennial Warning Slow Down or Miss Your Turn2019-02-14T12:25:15+00:00

Best Place To Watch The Super Bowl

Same Question Every Year, Who’s hosting the Super Bowl Party?
Make this year your year to buy a home worthy of Hosting the party!

Every year the super bowl comes around and you wind up at a house you would rather not be at because they own the best place that has the parking and entertainment space to host a party. Sports bars are fun but at the end of the night check your wallet, The average couple that frequently visits a sports bar spends about the same per month as a mortgage payment on a modest home and then go home to an apartment where they continue to pay the landlords mortgage.

Yes sports bars are fun but think about having only your group of friends bring a dish and a six pack for the evening in your den. Think about investing in your future instead of paying rent for your landlord and supporting the local bars.

Before another year goes by and we are ringing in 2019 consider sitting down with a member of The Choose A Home Team or take our Free Home Buyer Class and learn about our little to no money down options for you to become a home owner.

You don’t make it to the super bowl without a solid game plan and you don’t secure your financial future without a game plan. You may decide your not ready to be a homeowner yet however years go by fast and you should at least develop your game plan.

It costs nothing but a little of your time so the best place to start is contact us today and set an appointment

Best Place To Watch The Super Bowl2019-02-10T21:35:31+00:00