413. Our Dumb Financial Decision
The Chris Harder Show
Chris Harder
4.9 • 1.5K Ratings
🗓️ 23 November 2020
⏱️ 23 minutes
🧾️ Download transcript
Summary
In This Episode You Will Learn About:
- The terrible advice our parents gave us about home ownership
- Why leasing our home in LA turned out to be a great financial decision...
- ...and why we're going against our own advice to buy a home now
Resources:
Show Notes:
Back in episode 267, I answered a big question: should you buy or rent a home? I spent the whole episode making the case for renting and showing how most people are lured into home ownership under false pretenses… and then, about a year later, we decided to buy a home. So, why did I go against my own advice? Why did we make such a dumb financial decision? I promise you, we put a lot of thought into this and we think it was the right choice for us right now, but we want to be transparent about how we made what, on the outside, looks like such a risky financial decision.
Follow me on social media @ChrisWHarder on Instagram and check out www.ForTheLoveOfMoney.com
Transcript
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| 0:00.0 | So part of the decision was it is an investment in a place to host our business |
| 0:05.0 | speed-ups instead of paying for hotels elsewhere that we would do it at. |
| 0:08.0 | We do not view this as an investment in a way to, you know know make some money and get out while the market |
| 0:14.7 | high the way our parents taught us to think. |
| 0:22.1 | Welcome everybody this is for the love of money where we are making you |
| 0:26.9 | unapologetic about your pursuit of success by sharing the tools tips and |
| 0:31.8 | stories of those who have already made it. |
| 0:35.0 | My name is Chris Harder and each week I will bring you incredible guests in order to prove |
| 0:40.6 | that when good people make good money they do great things. |
| 0:44.3 | Hey everybody welcome back to another amazing episode of For the Love of Money |
| 0:51.5 | we have another Money Monday episode here where we talk about all things money and today I'm going to actually be talking very openly about our money and actually more specifically why we chose to spend it on a home. |
| 1:06.1 | Now I have a legendary episode that came out about a year ago maybe a little bit longer |
| 1:11.7 | episode 267 called, |
| 1:14.0 | Should you Buy or Rent. |
| 1:17.0 | And in that episode, I literally create this massive case |
| 1:21.5 | using math and real statistics that most people are lured into |
| 1:26.3 | home ownership under false pretenses right your parents or your teachers |
| 1:31.2 | taught you the best thing you can do is to rush out and buy a home. |
| 1:34.4 | It's the best investment you'll ever make and that dumb advice has been passed on for years and years |
| 1:39.5 | and years and years and years and is just mathematically not true. |
| 1:44.2 | So why did we decide to buy home this time? |
| 1:46.5 | Remember in Los Angeles where we just left and if some of you are just catching up right now, |
... |
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