The Time to Build Wealth for Millennials has RUN OUT

Ken and Danille McElroy discuss the financial challenges Millennials face as they navigate their prime earning years amidst rising debts and unaffordable housing. Discover actionable strategies to build wealth despite the odds and secure your financial future.

You can listen to an audio replay of this live stream on Ken and Danille's podcast! Follow your favorite platform with the links below!



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ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.

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.


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Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’

Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.




#CorporateLandlords #HousingCrisis #HighRents #RealEstateMarket #Politicians #HomePrices #Scapegoats #HousingSupply #RentalMarket #Investors #HousingAffordability #Inflation #RealEstateInvesting #MomAndPopLandlords #HedgeFunds #RentalProperties #FutureOfHousing

[MintedCuban]

I’m a 42 year millennial and I busted my ass and did 20 years on the army and finally retired. I also completed college and I have a great career plus I did some house flipping on the side and invested all my returns. If things go well I
Should have a few millions in the next 8 years. I can tell you that after the first bullet goes by your ear in the war you really find solid motivation to change your life. Piece of advice take calculated risk if you want to advance in life and stay away from toxic people

[williamrichards]

Unfortunately, a lot of people that need homes are of the mindset that they just want a ready to go home, a nice one, that they can just live in. I grew up in a low income family situation but after high school managed to escape by going in the service and after my 4 years in the service, I started working in construction. I saw that there was money to be made by buying fixer uppers so that's what I did. Slowly I worked my way into a position where I could start buying rental property and it went well from there. There are literally millions of houses and apartments that are older now and lots of fixer uppers are still around. I say learn how and put in the sweat equity and build it a step at a time until you can get into larger projects, .

[topshothotshot]

Something to note: I graduate with interest rates around 3.5%. But once I had all those student loans consolidated with the income-based loans, the interest rate jumped to 7.5%. And it's even worse for young adults now. We as a nation are making higher education a deterrent, instead of rewarding higher education.

[iowawizkid]

The price of a home doubles every 15 years roughly. That's due to our government spending at an insane rate!

[morton]

Ken, in May of 2020 you made a video titled "The impact of inflation on real estate". I just wanted to point out that you were dead on in your assessment. After being overly fearful to buy for many years, that video gave us the confidence to buy when it was still a good time to do so. Today, I genuinely feel for those who are stuck in the ever increasing rent situation, the game has simply been played against them without their knowledge. Thankfully, you are continually informing us of the game that is being played, and how to best play it in whatever situation we may find ourselves in. We're grateful for your channel Ken!

[TechOutAdam]

So much of it is work ethic and the psychology behind someone's grit. It's Labor Day Weekend and all most, in any generation, care about is having fun. As a man, fun to me is for women and children. I don't understand the mentality behind needing fun all the time.

[christschool]

Sometimes owning a home doesn't make sense due to maintenance. I own 3 homes. Last year it cost me $90k to replace the roof on one of the homes.

[michaelsang]

It not so much the cost of living but the cost of “higher living” Most are driving fancy leased vehicles paying $500-$1000 per month, cable, eating out, flying here & there vacationing. My Job out of college in 1983 was $16, 000 per year, interest rate 11%. Everything is relative, looking back, life was not a bed of roses, I bought my first home $33, 000 condo 9.5% first time home buyer Mtg. No credit card, no car loan, no cable, no eating out, no Starbucks coffee, no $100 sneakers, lots of delay gratification. Today I consider myself financially secure, did 15 cruises already this year with 8 booked more before end of year. This month I’m cleaning and painting one of my rentals myself, it’s hard dirty work at age 70, but I do what it takes, while most people sit around watch other peoples success on TV, or social media to the demised of their own success. The saying: 9-5 you make a living, 5-9 you make a fortune.

[harisdiz.]

Lenders are feeling the pain. Lol... that's some good comedy right there.

[cluberic]

Some banks will also refuse to lend money if too many people are not paying their HOA dues. I had this problem and its gets really hard to sell your condo.

[buddyrevell]

15 years ago there was an active crash happening. I bought at the end of 2009, and my house value didn't bottom out until 2012.

[wmopp]

A home is not always the best investment. If you are mainly paying interest than only the bank is winning

[MikeVenom-mini]

Thanks a lot for answering my question

[thecomrade]

Sack on debt at peak market... Very smart advise...

[Michael-vccs]

I’m a millennial and my financial education started at 30 when I read Rich Dad Poor Dad. I’m 36 so I’ve had no time at all to figure this out. I had no idea I should’ve bought real estate in 2012. 2012 was also my very first full time job.

[jimneil]

I forsee people buying homes and renting out rooms in their single family home to afford their mortgage.

[Aaron_R]

I have no debt. Cost of living is under 1500 a month. I make about 2000 a month. Not ideal income but I'm making money which is better than 75% of USA.

[devstatingx]

Boomers: work harder if you want a house

Millennials: ok

Boomers: here, hold my bags

[cashflowinvestor]

Great video as always Ken, thank you. I'm actually considering buying real estate in a Roth IRA for long term rentals. From my understanding, once retirement age is hit at 59.5, you can live in the asset (house/unit) and rent out the remaining units, tax free (property taxes aside).

[ArmwrestlingShowcase]

Hard to buy any house as a rental here in Arizona (Phoenix, Surprise, Peoria) that will get you a $300 return unless you put 40% cash down on it. To much cash down for that $300 monthly return. Than what if rents go down which they might. Ton of homes for rent.