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The choice between buying and building a house hasn't become much easier in 2024. While the housing market has cooled off a bit this year, high building costs and interest rates are helping to support high home sale prices. According to Forbes, the average cost to build a new house is around $329,000 - not including the cost of land.
We can help you run some numbers on the money part. There’s a lot more that goes into a true "dream home" other than money, especially if you're thinking about living there through retirement. Discussing these three questions with your family can clarify what a home really means to you, and how the journey to your next home could impact your Return on Life (ROL).
Stay ahead of the markets with timely insights by uncovering the latest on the global economy, geopolitics and retirement, among other timely investment ideas - Student of the Market - July 2024
Herd mentality is the tendency to follow the actions of a larger group, even when those actions might not be in one's best interest. When it comes to finances, herd mentality can have significant implications for your investments and retirement planning. The first step to avoiding this common bias is understanding its prevalence. Second, is identifying specific ways to curb the behavior.
So why do we follow the herd and how can we avoid it?
Independence is an important value to all Americans. It's also a value that's central to how we feel about and use our money. When we feel financially free, we can make a wider variety of choices, pursue our passions, and find our ideal version of work-life balance. As we move past the 4th of July and head into the second half of the year, ask yourself how these three areas of financial independence are affecting your planning and how to get more Return on Life going forward.
Stay ahead of the markets with timely insights by uncovering the latest on the global economy, geopolitics and retirement, among other timely investment ideas - Student of the Market - June 2024
A family might spend decades working and saving towards the goal of owning a vacation home. The memories made are priceless, but the personal, emotional, and financial costs of keeping that house in your family for generations can be very high and very painful without thorough planning.
Prepare a family retreat into your legacy plan and make sure you discuss these three points with your heirs, your attorney, your CPA, and your financial advisor.
Stay ahead of the markets with timely insights by uncovering the latest on the global economy, geopolitics and retirement, among other timely investment ideas - Student of the Market - May 2024
Receiving an unexpected sum of money can be a welcome surprise, but deciding what to do with it can be a challenge. Should you save the money or pay down debt? Invest the funds or donate to charity?
While rushing to book a vacation with proceeds from a windfall may be tempting, it might be more rewarding to use the funds to shore up your finances for the long run. Here are five strategies to consider:
