UNPOPULAR OPINION: Buying a house is not an asset

Okay, before you start chewing me out, please forgive me for being MIA! I have something HUGE brewing. And those of you that have been sticking around get to hear it first 😉 

Don’t come after me for this… But, the most basic definition of an asset is: something that puts money INTO your pocket.

Owning a home has always been apart of the American dream. However, as time has moved on and inflation has been increasing, this dream feels like a far fetched one for most.

The reality is… Owning a home just gives us that “ego” boost and allows us the ability to say we own our home. But, we spend 30+ years paying a mortgage towards this home, plus property taxes, plus repairs and upkeep.

The argument tends to be, “But I have tons of equity in my home. Its work 3x what I bought it for.” Well, that’s great, but if you aren’t using that equity to create more cashflow for yourself, isn’t it just sucking more money out of your pocket?

So, if you’re anything like the other 1000 people on my Facebook feed and timelines crying about interest rates rising… Don’t worry about it!

Instead, focus your energy on creating cash-flow producing assets. Once we do that, we WILL be able to own our dream homes. Without worrying about how much money its draining from our pockets.

Unsure of where to start regarding positive cash flow? Don’t worry about that either!! My next newsletter (don’t worry, next one will be published on Black Friday) will cover simple ways we can generate cash flow. Even when we FEEL like we don’t have enough to cover the upcoming bills.

Spilling the TEA is what I do.. so get ready to tackle 2024 like you never have before!

Tell me, how do you see 2023 ending for you and your goals?

Talk to you soon!

Ariana - The Wealthy Tea

Disclaimer All articles are for informational purposes only. It should not be considered financial, tax, or legal advice. Please consult your financial or tax professional.