If you want to know how to live your best financial life, you’ve come to the right place! Here, you’ll find everything from information on insurance, investments, and owning rental property to advice on savings and retirement.
As a new homeowner, you may have received a home warranty from the builder or previous owners. It’s a nice perk, yes. But don’t get the false impression your warranty will cover everything that goes wrong in your new home. You might be surprised at what is covered — and what may not be covered…. Read more »
If your children are grown, it might be the perfect time to declutter decades worth of possessions and downsize the family home. Let’s take a look at how to get the job done with the least amount of tears shed. Choosing a house. Once you’ve decided to move, ask yourself a few questions about the… Read more »
When aging family members requires intense medical care, it’s time to consider moving them to a nursing facility. These facilities are licensed by the states and fall into two categories: intermediate care and skilled nursing care. Let’s take a look at what you can expect from these types of living arrangements. Today, only a small… Read more »
When seniors first show signs of needing help with medical and daily personal care, it’s time to consider moving to a community that provides what’s known as assisted living. When you need a hand. Once capable of living alone, seniors who begin having health issues may find they need a little extra help, but don’t… Read more »
Active adult communities are for healthy seniors who are in search of a vibrant lifestyle with lots of leisure activity options. Age requirements. There are two types of active adult communities. One is the age restricted community, where at least 80 percent of the occupied homes must have a resident aged 55 or older. The… Read more »
Seniors with memory disorders, such as Alzheimer’s disease, require specialized care and housing. Let’s look at what a memory care facility offers and what you need to know when making a decision for a loved one. What you can expect. Since Alzheimer’s disease becomes progressively worse, only seniors in the early to moderate stages can… Read more »
Choices for senior living vary widely — with younger seniors typically opting for “active adult” or “independent living” communities. The two are similar but have subtle differences. The community with the more extensive amenities is the active adult community, which targets residents over the age of 55. Most residents own their homes, are free of… Read more »
Continuing care communities offer senior citizens independent living, assisted living and nursing care, allowing them to age in place as their needs change. Senior citizens typically move into a continuing care community while they are still healthy and active. Resident sign a contract that guarantees that their needs will be met for medical and personal… Read more »
When preparing for retirement — especially if contemplating a move to another state — it’s crucial to research the tax implications. Make sure your search is comprehensive, including state and local taxes on income, property, and consumer sales purchases, because different states take different approaches to taxing their residents. Also check for tax breaks specifically… Read more »
Harvesting rainwater for home gardens has become popular in many sections of the country — particularly in drought-prone areas. But is water collected in rain barrels safe to use and do you save enough money with lower municipal water usage to make them worthwhile? Rain barrel systems are simple, and relatively cheap to assemble. The… Read more »
Ever wonder how long you should keep important documents such as old tax returns, mortgage documents, and home appliance receipts? Here’s a list of what to keep and when it’s safe to shred. Tax records. The IRS advises keeping tax returns and supporting documentation for at least three years — and up to seven years,… Read more »
Smart homeowners think of their homes as more than just a place to live. Their houses are also their biggest investment. By strategically investing modest sums of money now, you’ll see major savings later. Here are 11 keys spots to spend money with an eye toward saving. Heating and air conditioning units should be inspected… Read more »
If your dream home is a fixer-upper, but cash is tight, a 203 (k) program offered by the Federal Housing Administration could make ownership a reality. Known as FHA Section 203(k) insurance, the program allows buyers to finance the purchase of a distressed property and the cost of renovations through a single loan with one… Read more »
Security is a concern in every neighborhood — regardless of status or ZIP Code. Here are six things you can do to make your neighborhood a safer place. Know your neighbors Don’t let your busy schedule keep you from getting to know your neighbors. It’s one of the best crime-fighting measures you can take. Let… Read more »
While the stunning views and clean air of mountain living are certainly appealing, be sure to weigh the challenges of mountain life before making a move. Here’s a checklist of things to consider. Positives. Living in the mountains is probably rivaled only by living near a beach for tranquility. The majestic scenery and vacation-like settings… Read more »
If you own a rental property, fairness and accessibility are key when renting to disabled tenants. Here’s an overview of what every landlord needs to know. The Fair Housing Act of 1968 and the Fair Housing Amendments Act of 1988 prohibit discrimination for, among other things, disabilities. Disabilities include impairments in mobility, hearing, vision, and… Read more »
A vegetable garden is a good way to provide delicious and healthy produce to your family without spending a lot of money. With some careful planning and prep work, you can grow nutritious vegetables in every season. Follow these steps to ensure a bountiful harvest year-round. Design your garden. Two to three raised beds (four-foot… Read more »
Growing your own produce is an excellent way to save money on groceries, but it’s not without its challenges. A raised garden avoids several pitfalls and provides good results with a minimal amount of effort. Here’s how to get started. Design. Plan to make your garden no more than four feet wide to ensure you… Read more »
For most people, their home is their biggest investment — and their biggest tax benefits. As always, it’s best to consult your tax adviser for specific information, but let’s walk through the most common, basic tax savings of homeownership. Income Tax Savings When you file your federal income taxes each year, you are allowed to… Read more »
When buying your first house, the terms and conditions of the mortgage process can be confusing. Here’s a primer on two such terms: points and the origination fee. Origination fee. This is the cost that the mortgage company charges you for borrowing money. When you take out a mortgage, it is a new loan in… Read more »
