1 in 6 Millennial's now have savings of $100,000 or more according to a new Bank of America survey.
Contrary to popular belief, Millennial's aren’t horrible managing their money as you might think. This generation loves to find a good deal and invest in something that they really believe in. They are bold and it is paying off.
It makes a lot of sense that Millennial's are becoming increasingly interested in Real Estate. In fact, recent research from Fannie Mae found that 85% of Millennial's agree that real estate is a good investment.
One thing is for sure, Millennial's these days are definitely open to investing in Real Estate.
This trend has an increasingly bright future.
Here is why:
Social Security Is Never Enough nor does it do any good for them now or even ten years from now when they want an extra income flowing in. When they finally get to the point in their lives - looking forward to receiving social security benefits - we all know its never going to be enough.
Tax Benefits are ready to be taken advantage of and are immediately useful.
Making Money through equity and appreciation is simple and easy (when you make the right investment). Real estate appreciates in time and bests inflation. Keeping your money in the bank won’t gain much interest and investing the shady stock market is too risky.
Rent Culture Keeps You Broke: You (Millennial's) will soon make up the vast majority of all real estate buyers in the US. The renting culture keeps you broke (more on this next week). Most millennial's are making above average income - some are pushing six figure salaries. For those who are wise, investing in properties rather than spending on luxury items that depreciate in time or on expensive vacations, will be wealthier till they are well past old and grey.
Buy What You Want Without Hesitation: You can use the equity accumulated from investing to buy without having to think about if it is directly affecting your tomorrow. Investing more is the best way to expand on this benefit.
Money For Doing Nothing: Millennial's did something right when they chose to focus their education and efforts in stable career pathways. This makes them wise enough to focus on how to get there without having to work till they can't anymore. Hence why investing in Real Estate is easily the best option to have an extra income stream without having to do much of anything at all.