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So...a couple of these posts are about climbing the income ladder. If you want to climb the wealth ladder here’s my advice. Buy a single-family home, in an area

So...a couple of these posts are about climbing the income ladder. If you want to climb the wealth ladder here’s my advice. Buy a single-family home, in an area with good schools, that you can afford with a 30 year fixed mortgage. You will need 20% down, so you won’t be able to reach the “food freedom” or “travel freedom” levels as described here until your home purchase is completed. This is almost foolproof over the long term.

yboris 7y ago
Or consider buying a mobile home in a good community. My house was $50,000 and my rent is $600/month (I live in NJ and don't pay land taxes). The savings from not paying a mortgage or buying an expensive house means there's that much more you can put into investing for retirement (and in my case give more to cost effective charities).