The winner, the loser & the anti-homeowner

Just like Ramhit Sethi, this new generation seems to be all about buying real estate, but hey, count us in as the anti-house buyer. In Sethi's novel, "Your Rich Life," he's all about chatting up what our version of a rich life looks like. For me, it's not about building house empires, but about freeing our buddies and fam from debt's wicked clutches and opening up a cozy café or a quirky store.

Now, let's give those home buyers a shoutout. They holler for freedom, but sometimes end up tied to high mortgage maze, car payment, and more. Where's the liberty in that tangle?

Good ol' America sure has a deep love with owning houses, and if you're not on that homeownership train, you might feel like you're being handed basically the "You're a loser!" badge. But hold up! For folks in the Big Apple or metropolitan areas, owning might not be the smartest financial decision move. If you dive in headfirst, you could be waving goodbye to thousands of cash every month. The pressure to own is intense, and it's all about the status symbol of the white picket fense. Other individuals who said you're a winner if you own one, and a loser if you don't or just renting are just buying material for showing status.

Homeowner = Higher Status versus Nonhomeowner = Lower Status.

But guess what? If you peek behind the curtain, run the number before you buy, you will see the phantom cost (not Phantom of the Opera lol) that you didn't factor in. These sneaky costs, like maintenance surprises, inflation, and missed investment chances, get swept under the rug. Before you dive into homeownership plunge, run the number!

I double-dare you to put your own beliefs in a blender and hit "blend"! We've been fed decades and decades of propaganda on a picket fence platter . Sure, our great-grandparents might have made a killing on their house by buying a $100,000ish house, and sold it for like $1 Millions, but they didn't factor the sneaky phantom costs. Today, renting might be the true financial ninja move considering all those hidden expenses.

Instead of diving into a mortgage, let's talk about plunging into the mighty SP 500 investment. When your mortgage dances around $1,000, toss on an extra 50% for those phantom cost like labor, maintainance, insurance, and cash flow. Folks buy homes thinking it's a money jackpot and the coolest life choice. But hold the phone! "The biggest purchase of your life" might not be the wisest financial play. Run the numbers, then shout it from the rooftops!

Selling houses or cars is like dating - it depends on the vibe. Are you planning to cozy up there for a decade? Crunch the numbers by multiplying the cost by 10, and see the number that you're going to be paying. If not, you might just be flinging dollars out the the window faster than a confetti cannon, and not profitting from it, so it ain't affordable for you. In which case, it is not the best financial decision of your life then.

Now, pick a future target year for retirement, punch it into a retirement app or website, and see the magic. Remember, funds don't mean owning lots. They're more like stocks or bonds, all partying in one place.

Fund ≠ own lots

Fund = stock or bonds parties

Picture it: a fund fiesta where all the money's jamming in a corner.

Oh, and don't forget to snag a brokerage account like a Fidelity or Hargreaves Lansdown. And as for day trading jazz? Ugh, nobody likes that stressful mess! Investing is the cool way to go - ooh la la, it's sexy! Oohh, you so sexy! You want to be sexy! And remember, just check every 3- 6 months; no need to tweet it though. We're not playing the traders' game here. Because once you put the cake into the oven, you let it cook! You do not open it.

And while you're at it, save 5-10% from your paycheck, let it ride the compound wave, and watch that wealth snowball. Then use an automatically fund and drawn from your checking account. When you add that and compound is created. Investing isn't about babying a bank account; it's like building a financial kingdom. Ramit Sethi got it right in Chapter 5. He's not into the trading tango either - it's like a brain workout on a rollercoaster. It just make your brain and mind go kuku. Let's jump on the "let it cook" bandwagon!

Alright, let's break it down:

Current principle: What's the cold, hard cash, sitting in your bank account at this very moment? I'm talking like RIGHT NOW, not your next paycheck, pal. Just peek and jot down that number.

Save: How much green are you socking away each year? Your annual saving scoop.

How long? How old are you right now, and how many years are planning to diligently stash away for retirement?

Interest Rate: 7% (No need for the "how about 8%?" games. We're on a straight 7% road - no detours allowed!?

Pop that 7% return in an investment calculator -think moneychimp- and watch the magic happen. Imagine you're 16, saving $5,000 a year, and you've doned it for 14 years - by 30, you'd be lounging on a $133,000ish cushion. Now, let's fast-forward to 65 (49 years later), and watch that compound magic unfold. Invest $30,000 a year with that sweet 7% interest and compound, toss in your 5-10% savings, and voilà, $12 million waiting for your retirement party. Welcome to the rich life! Let it cook guy! So welcome to hell fire. What is your rich life look like? Join us on the "let it cook" movement!

And hey, remember that old saying: "If it's meant to be, it will be. You won't have to force, convince, or worry over it. Let it flow, let it be, and let it come to you. You're attracting everything you need. Trust the timing of you life." So relax, let life glide by - no need to force it.

Oh, and speaking of flow, let's not forget the folks who jumped on the crypto train. Not many talk about their crypto crash stories, huh? It's like we're all only seeing the tip of the iceberg. But you know what?Why don't we talk about losing money, it shameful for some to discuss it. Let's be real guys!

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