Some feel that saving money in the bank is a good strategy to building wealth. Though, it is very good to save, it is not a good wealth building strategy. The gains of real estate investment far outweigh that of saving in the bank for the following reasons:
1. Currency always diminish in value while real estate appreciates:
2. Return on savings is infinitesimal while returns on real estate investments are huge
3. Your money in the bank simply makes the banker richer while your money in real estate makes you richer:
4. Expenses always arise to deplete your savings but your property is always there appreciating in value
5. None of the rich ascribe their success in gathering wealth to saving but most of them have impressive property portfolios (more than 90% of them)
Now you know, It’s time to act
At the time of writing, Joy Gundu, is a Real Estate Broker and CEO at Castle Homesng in Abuja, Nigeria.