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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Linda's in Phoenix, hey Linda, how are you?

Hi, good.

Good, how can we help?

So my husband and I, we currently own a home,

we've been here for 12 years. We have a really awesome interest rate on it, low mortgage.

And we are thinking about buying another house and we want to keep our current home as an investment property but I'm just a little

bit worried that it's going to strap us financially too much and just kind of wanted to get your thoughts.

I wouldn't.

You wouldn't buy it.

No.

I mean I'd sell the house and buy another house but I wouldn't keep your other house.

I know that because you have a mortgage on it. Your first goal

to becoming wealthy, one of the top two things you need to do, there's two big things

to get to the first million to five million in net worth is get your residents paid for, be a hundred percent debt free and build up your retirement

in mutual funds. Those are the two primary things that cost people to get their first

one to five million. It is not leveraged, borrowed rental property. That is not what causes the typical first one to five

million. All the research we've done studying 10,000 millionaires. So everybody

talks about how good rental property is.

Rental property is wonderful if it's paid for and your home is paid for, but that's not the situation you're in.

Okay, so you say this house needs to be paid off before if we wanted to have to.

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