Millennials’ Wealth Crisis: Have They Missed Their Shot at Financial Freedom?
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 20 August 2024
⏱️ 35 minutes
🧾️ Download transcript
Summary
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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Transcript
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| 0:00.0 | Look! Next door are having something done. |
| 0:03.0 | That lap panel fencing is gorgeous though. |
| 0:05.0 | Wait a minute. |
| 0:06.0 | Juice and handy bags! |
| 0:08.0 | Said she was in landscaping she did. |
| 0:10.0 | Said she had too much on a... |
| 0:12.0 | Plate compactor. I'll flatten her, the lion little... |
| 0:16.0 | Get to Raleigh Fencing from 24 pound a panel |
| 0:19.0 | and tool hired two with plate compactors from |
| 0:21.7 | just 51 pound a week, all trade prices X VAT at 20%. |
| 0:25.9 | So now you can keep up with the Joneses and the Evanses and the Patels. |
| 0:30.1 | Welcome to the Real Estate Strategies podcast. Let's get right into this episode. |
| 0:35.3 | Can millennials repair their balance sheet? or is this going to be the |
| 0:39.5 | generation that fails to build wealth into retirement? Yeah, that's for sure. I mean, |
| 0:45.0 | we dug deep into this topic, guys. If you take a look at baby boomers, Gen Zs, Gen X or millennials, |
| 0:51.8 | let's say, there's anywhere from a 15 to 20 year difference between them, let's |
| 0:56.1 | say. |
| 0:57.5 | And so I went back and looked at the generation before, of course, which is Gen X. |
| 1:03.7 | And the average price of a home was 221 15 years ago. |
| 1:09.4 | Right. |
| 1:09.8 | 221. |
| 1:15.8 | And the interest rate was 5%. So, so to put things in perspective, even if, you know, adjusted for inflation, their savings or their, you know, whatever |
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