The Financially Illiterate

[Jonathan Safa]

Most of us don't bat an eyelash when it comes to setting aside x amount of dollars every month for some form of 401(k), Roth IRA, or the like. But if asked to invest in real property, - emphasis on the "real" - you are met with a myriad of excuses: The primary of which being "if I want to move away, I don't want to be stuck with a mortgage." Imagine if I told you that same Roth IRA could be paid for by somebody else, depositing into your account every month, accruing both interest and appreciation. That would be pretty fantastic, wouldn't it! To my knowledge this does not exist with financial markets, but welcome to the world of "real property." Financial illiteracy. Throwing hundreds, sometimes thousands of dollars away every month in "rent." Well, thank the Lord for the financially illiterate. They are making me rich!!