The reason I’m so passionate about helping people build wealth through smart real estate is becuase most people retire broke. Seth Godin elaborates on this today, and asks Where did it all go?
According to a recent report, more than two-thirds of recent immigrants to the USA send money home regularly.
The worst-paid, poorest people in the country manage to save enough to
send some back to the old country. The US Ambassador from El Salvador says that the two million Salvadorians in the U.S. sent enough money home to account for 13 percent of the GDP of his country.
At the same time, nearly two-thirds of American households are in debt. Many of them in serious debt. If the housing market falters, all those triple mortgages and home equity loans go under water, which means that people will have to sell their houses to get the money to pay off the loans, and the cycle starts.
Several people have pointed us to the rich calculator, that reminds you just how insanely rich your indebted best customers are. There are millions of Americans who make more than $200,000 a year. That’s 2 million dollars a decade, five or ten million dollars over the course of a career. Add it up, then look at the number. All
you can do is shake your head and say, “where did it all go…”
Let me ask you this: what are you doing to make sure you can retire comfortably? Leave your advice/questions in the comments!
Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.