If you want to grow your net worth, saving as much of your income as possible is a good start—but it’ll only get you so far.
To truly maximize your income’s potential, you’re going to have to do more than stick it in a savings account. You’re going to need to invest.
The standard homebuying advice is “only buy as much home as you need.” Makes sense, right? If a newly married couple is shopping for their first home, for example, a two-bedroom bungalow might be a smarter choice than a four-bedroom ranch house.
But you also have to consider another piece of standard homebuying advice: don’t buy unless you plan to live there for at least five years. If that newly married couple is planning on expanding their family, their two-bedroom bungalow might feel too small all too soon.