Month: July 2020

5 Financial Benefits to Downsizing Your Home

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Many families decide to downsize to a smaller property. It’s a great way to cut back costs or reduce the upkeep of a larger home. For others, it’s simply that they don’t need the same amount of space anymore. In fact, according to a survey of families living in larger houses, 60% of people say they’d prefer to live in a smaller place. This is due to a number of factors. Here are five financial benefits to downsizing your home.  Reduced mortgage payments One of the main advantages of downsizing is that you’ll be able to reduce your mortgage payments. Often many people choose to downsize to reduce debt. You could either sell your home and buy a smaller property … Read more

Do You Need Renters Insurance? Here’s What You Need to Know

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Save Money and Time with Your Short-Term Rentals

When you’re renting an apartment, condo or single-family home, your landlord may or may not require renter’s insurance before signing the lease. Even if your landlord doesn’t require it however, you may still want to take out this insurance as a precaution against the potentially devastating consequences associated with personal property loss/damage and even the unlikely (yet possible) circumstance in which the residence becomes uninhabitable. Renter’s insurance can be a financial lifesaver in some cases, yet only one-third of renters actually take out a renter’s insurance policy (and many could be doing it solely because their landlord required it). Whereas a vast majority of homeowners have homeowner’s insurance – likely because mortgage lenders require it and some states even have … Read more

You’re Not Prepared for Retirement Unless You’ve Done These Things

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Thinking about retirement is something that some people do a lot, while others try not to give too much thought to what their retirement might look like. Being prepared for retirement is a must if you want your later years to be as comfortable as possible, but it can make people panic if they feel like they’re not able to prepare properly. Retirement will look different for everyone, but each person can prepare in their own way to meet their retirement goals. If you’re getting ready for retirement, there are some key things that everyone can do to be prepared. Work with a Financial Advisor Planning for retirement is something that you can do with yourself, but it’s always useful … Read more