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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Today's question comes from Jenny in Illinois.

Jenny says I'm a single woman and I rent an apartment in a great city.

I'm very happy here as it is close to my work, my church, and most of my

social activities. I have no desire to own my own home because I'm afraid I have to have

maintenance and long care people on speed dial and to buy something even remotely affordable I would have to move way

outside of town. Is it okay to rent forever? I hear you talk about a paid

off home being a large piece of people's net worth, but is it still

possible to build wealth if you don't own a home?

So yeah, I mean, I think the biggest piece in this Jenny is looking far in the future and I always look to when it comes to retirement, time, the singular expense that continues to go up that you will not have control over is your house, is your

housing. So rent will continue to rise and if you own your home and you pay it off and that's

an expense that you don't have and it's continuing to work for you building equity.

So it is a part of your financial picture that I would want you to have a part of it.

It doesn't have to be today.

It doesn't have to be in the next five years, but eventually I would have home ownership in your financial picture for many reasons, but I think mostly when you look towards times like retirement you won't have to have that

expense that continues to rise and you actually have an asset for you.

I can completely endorse that where you are today in your life Jenny that this particular situation makes sense.

It sounds like you got it made right now.

There's nothing wrong with that at all.

It just doesn't scale long term.

So here's the problem. You know she's we didn't say how old she is. Let's just say she's 30.

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