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Episode 3153:
Sam from Financial Samurai sheds light on a growing financial vulnerability in America: nearly 30% of households have no investments beyond their primary residence. He explores how financial trauma, wage stagnation, and lack of education have led to under-diversification, urging readers to adopt a more balanced wealth-building strategy for true financial independence.
Read along with the original article(s) here: https://www.financialsamurai.com/percentage-wealth-outside-primary-residence/
Quotes to ponder:
"Roughly 30% of households have no 401k, no IRA, no after-tax investment account, no private equity investments, no venture debt investments, no nothing beyond the value of their primary residence!"
"When you’re catching your breath, you’re not looking to aggressively invest in growth stocks and other assets."
"Don’t be like most people with no wealth outside their home. Diversify your investments!"
Episode references:
Reverse Mortgage Information - Consumer Financial Protection Bureau: https://www.consumerfinance.gov/ask-cfpb/what-is-a-reverse-mortgage-en-224/
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