“In the marketing industry people often talk about selling the benefits (“hey, look how this thing can change your life”) vs the features (“hey, look at this thing with all the bells and whistles – here’s how to use it”).
I’ve always been more of a features guy myself. I want to know the steps involved and understand the individual components that go into whatever it is I’m buying.
When it comes to “buying” the idea of fixing my finances I’ve always jumped ahead to think about the numbers involved, the tools I’d need, and the steps that are needed. So, here’s why it is that I’ve chosen to understand my finances, get rid of debt, start saving more, save for retirement, and pursue wealth (i.e. master my money).
“Historically, the stock market has returned an average of 7% annually. Real estate appreciates on average 4% annually. Stocks win. If you want your money to grow as fast as possible, you would put your money in the stock market (or a business) vs a house. End of story.
If you are pursuing FI/RE, and want to get there as fast as possible, you would be better off skipping home ownership and investing the money you would have used for a down payment and mortgage payments. But getting to FI ASAP isn’t everyone’s goal.”