initiald

One piece of advice for young people starting a family. Don’t go seeking the “big house”. And don’t view the primary home as an investment, as you’re told it is. Buy something modest and affordable, and make do. Reduce the stress of repayments and plow ALL that extra cash into your investment journey. You’ll have to make do with the smaller house compared to your friends. You won’t have the flex. But within a decade, you’ll be compounding at an accelerating rate. And your options will be plentiful. While your friends look for a bigger McMansion to flex, they will be buried deep into house and living paycheck to paycheck. This is important because early on housing is such a large monthly nut. It all but consumes your investable ability, at a time when the earlier you start meaningfully investing the far better off you will be. Yes, I know that requires a little sacrifice and looking “long term”, something many are adverse to doing. But that time comes around, and have options and flexibility when you’re older and wiser is far more powerful.