Benna Lynch Rondini's Blog
Depending on how many years you’ve been working, retirement can seem like it’s too far in the future to worry about or too close to be able to effectively make any real change.
However, retirement is about more than doing the math and investment planning. Retirement includes making several life decisions, and considering things you may not have thought of before.
In this article, we’re going to talk about planning aspects of your retirement including your home and assets, your savings and investments, and setting and achieving goals for yourself.
Pay yourself first
If it feels like your paycheck is spent before you get a chance to set any aside each week, you’re not alone. However, it’s never too late to start setting aside money for retirement. The “pay yourself first” theory states that you should set aside a certain amount for bills, savings, and retirement plans before you spend a dime of your paycheck each week.
The easiest way to achieve this is to take advantage of an employer-based contribution matching program such as a 401K. However, if you are self-employed you can still open up an individual retirement account (IRA) or a Solo 401K. With an IRA, you determine where you want to invest your money, and can choose safer or riskier investments based on your own preferences.
Draw up your plan, literally
There’s no better way to start planning than to actually sit down with a notebook or your computer and start figuring out what you want to save and how you want to achieve those savings.
You’ll want to determine how much money you can accrue in your savings account, estimate the price of your assets and properties, and look at the projected return on investment for any IRAs or 401Ks you have in place.
As you likely know, these numbers are all projections. There’s no way to know for sure how much your home will be worth, or how well your investments will do by the time you’re ready to retire.
So, one of the most important aspects of making this checklist is to return to it yearly to determine if you should change your investments or alter your retirement goals.
Determine your lifestyle needs
Whether you have dreams of settling down in a quiet town for retirement, touring the country in an RV, or traveling the world, you’ll need to find out how you can make it possible on your retirement plan.
You and your spouse will need to sit down and draw up a plan for your mutual retirement goals. Determine which expenses you can do away with in retirement so that you can fulfill other goals. Having these conversations now will help you more effectively plan for the future. And, remember that the time of your retirement is always closer than you think.
No two houses are exactly the same. Much in the same vein, there is no one-size-fits-all solution to ensure a home seller can get the best price for his or her residence. However, there are several things that a seller can do to boost the likelihood of enjoying a profitable house selling experience, such as:
1. Improve Your Home's Curb Appeal
Upgrade your house's curb appeal before you list your residence – you will be happy you did. Because if your home boasts an awe-inspiring exterior, your residence could stir up lots of interest from buyers as soon as it becomes available.
It generally won't take long for a seller to upgrade his or her home's curb appeal. For example, mowing the lawn, trimming the hedges and performing other lawn care tasks enables a seller to quickly improve his or her residence's curb appeal. In some instances, repairing cracked or damaged home siding may be necessary, too.
If you require additional assistance with home exterior upgrades or repairs, contractors are available in cities and towns nationwide. These professionals can take the guesswork out of home exterior improvement projects and help you bolster your residence's curb appeal in no time at all.
2. Eliminate Clutter
If your home is filled with a large collection of antiques, artwork and various personal belongings, you may want to put these items in storage. That way, you can show off the true size of your residence's interior to potential buyers – something that may lead to a quick house sale.
Of course, if you want to get rid of assorted clutter, you can always host a yard sale or list items online. You may be able to give your unwanted items to family members or friends or donate them to charity as well.
As you remove clutter from your home, it also may be beneficial to clean each room of your residence. Then, your home's interior can capture buyers' attention for all the right reasons.
3. Hire a Real Estate Agent
If you want to get the best price for your home, it typically is a good idea to hire a real estate agent. This housing market expert can offer tips and recommendations to help you enhance your residence's interior and exterior before you list your home. Plus, a real estate agent will help you identify and address home selling hurdles.
Furthermore, a real estate agent allocates time and resources to educate a seller about the house selling journey. And if you ever have concerns or questions about selling your house, a real estate agent can address them right away.
For individuals who want to maximize their home sale earnings, it helps to know what to expect after you list your residence. By using the aforementioned tips, a seller can prepare his or her residence for the housing market. And as a result, this individual may be better equipped than ever before to get the best price for his or her home.
765 Boylston St, Brookline, MA 02467
765 Boylston St, Brookline, MA 02467
As a homebuyer, it is easy to envision finding the perfect house, submitting an offer on it and acquiring it right away. However, it is important for buyers to consider the worst-case scenarios as well.
A buyer who understands the worst-case scenarios that he or she may encounter during the homebuying journey can plan accordingly. That way, this buyer will be better equipped than others to avoid various homebuying worst-case scenarios altogether.
Now, let's take a look at three common homebuying worst-case scenarios, as well as how buyers can avoid these situations.
1. You find your dream home, but it falls outside your price range.
If you enter the housing market without a mortgage in hand, you may need to act quickly to acquire the necessary financing to purchase your dream house. But once you kick off a search for a mortgage, you may find that the cost to acquire your dream home falls outside your budget.
When it comes to getting home financing, it often helps to be proactive. Fortunately, if you meet with banks and credit unions before you launch a home search, you can determine exactly how much money you can spend on a residence.
Banks and credit unions employ friendly, knowledgeable mortgage professionals. With these mortgage experts at your side, you should have no trouble getting pre-approved for a mortgage at your convenience.
2. You discover a wide range of problems during a home inspection.
A home inspection likely will be completed in the days after a seller accepts your offer on a residence. And in some instances, an inspection may force you to reconsider whether you want to purchase a house.
If you encounter problems during a home inspection, you still have lots of options. You can ask a seller to perform assorted home repairs or reduce your offer. Or, you can walk away from a home sale and restart your home search.
For homebuyers who are worried about any problems that they encounter during a home inspection, it is paramount to look closely at all of the aforementioned options. By doing so, you can make an informed decision about whether to proceed with a home purchase or reenter the housing market.
3. You employ a real estate agent who fails to help you achieve your homebuying goals.
Many real estate agents are available in cities and towns nationwide. But if you fail to conduct an extensive search for the right real estate agent, you may struggle to accomplish your homebuying goals.
When choosing a real estate agent, you should learn about this housing market professional's industry experience. It also helps to meet face-to-face with a real estate agent and discuss your homebuying goals with him or her. This will enable you to determine whether you're comfortable working with a particular real estate agent.
Enjoy a quick, stress-free homebuying experience – consider the aforementioned worst-case homebuying scenarios, and you can minimize the risk of potential pitfalls throughout the homebuying journey.