Sometimes it feels like life is so chaotic. And we struggle to get our arms around the details moving and flowing in our life. When it comes to our homes and overall home management we get bogged down with all the details necessary to keep our home running smoothly. Wouldn’t it be nice Read More
As a senior, your home is a big factor in your life today and in planning for tomorrow. Some seniors want to downsize into a smaller home, and pocket some cash for retirement. Others want to renovate some aspects as they want to age-in-place. Some just like the security that their mortgage is paid off or nearly paid off and are looking forward to a reduction in expenses.
Whatever your situation is, there are three key areas of life where your home factors into retirement and has a big impact on decision making. Let’s dive into those areas. Read More
You have spent years paying off your mortgage. Maybe you can afford to buy a rental or vacation property. Or buy your trophy home and entertain family and friends. Or perhaps you need some home equity to pay for college tuition. Lots of home and real estate decisions to make.
A big part of your net worth is built into your primary home or multiple homes if you previously bought investment properties. The big question for you is “do you have visibility into what the net worth really is and what is the forecasted value of this key part of your retirement?” Read More
As a Generation Xers, your financial life gets a little more complicated. You start juggling more things and your time is compressed because you have multiple demands. You moved into a bigger house because of the kids. Maybe you start thinking about saving for retirement. You need a vacation. Your kids are expensive and want everything.
How do you balance all the competing financial demands? One method of staying in control is to segment the different key aspects of your finances. Consolidate your investments in one place to manage them. Have one system to manage your income, family bills and credit cards. Read More
You finally saved enough money for the down payment on a house. And you finally qualified for a mortgage. You researched and home shopped to find the right first home. You made an offer. And finally, you closed on your first big investment … a new home! Congratulations!
Now you are starting a 3 to 7 year cycle of owning and managing your first home. Where do you start? How do you maximize the value and minimize the ongoing expenses? What do you need to do to maintain this asset? How do you manage the improvements you make to the house? How do you avoid falling into the “money pit” trap where your house financially consumes you? Read More