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Smart Financial Move

February 2nd, 2006 at 05:45 am

I was reading the latest Millionaires in the Making and wanted to point out a smart money move that they made that most people would never consider:

"Most people move into a bigger house when they have kids. Not the Lees. To both give their two children a good education and continue saving for retirement, 13 years ago the Lee's downsized from a new 3,200 square foot, 5-bedroom colonial to a 30-year-old, 2,200 square foot four bedroom home...

The smaller house was in a better school district and thus avoided the need to send the kids to expensive private schools. Instead they plowed that money into their 401(k)s..."

With everyone always thinking "more and bigger" it goes to show how doing something a bit different can have a huge impact on your finances.

5 Responses to “Smart Financial Move”

  1. cercis Says:

    Am I the only person left who thinks 2200sqft is HUGE? OMG.

    I just "upsized" into 1800sqft and I feel like I'm living in a mansion. I feel like I must walk miles every day just to put things away. And forget talking to each other - if I'm in the bedroom, he can't hear me.

  2. baselle Says:

    Quite a change from the old Millionaires in the Making - it used to be a real estate fest - all the entrants in there 2, 3, 4 pieces of property, heavily leveraged.

  3. PrincessPerky Says:

    I would love 2200! double the space, what would I do with it! (oh yeah prolly fill it with 'stuff', or kids beds, one of the two.)

  4. DivaJen Says:

    lol - yep, count me in as thinking 2200 sq ft sounds huge!

  5. jorge Says:

    When I purchased my house as a single parent, I was definitely impressed by the 2,600 sq. ft. placed on the ad, but that just meant the Total sq. ft. and it really is quite a lot of space. Main floor is about 900 and we have a 1/2 story upper. What did I do with it? Filled it up with stuff and spent the last 6-9 months getting rid of all the stuff!!!

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