Top 4 Things to Consider Before Moving to a High Cost of Living Area

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The pandemic motivated millions of people to move for a variety of reasons, particularly those involving financial matters. Many workers in urban areas opted for areas with a lower cost of living when their jobs suddenly switched from in-office to remote work, while others sought less densely-populated locales to avoid large Covid-19 outbreaks common to metro areas like New York City and the Bay Area. While the pandemic seems to be nearing an end in the U.S., the dynamics of our personal and professional lives in this “new normal” have been permanently changed. Some employers have opted for allowing long-term remote or hybrid work options to give employees greater flexibility, given how many employees reportedly want to work from home … Read more

Financial Terms to Understand Before Buying Your First House

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buy a starter home

Now that you have diligently saved up for the down payment check the numbers on what you can afford and attend enough weekend open houses to know that you are ready to own a home. Buying your first home is one of the biggest financial investments we make, and there is no set age to it. You can purchase a home when you are ready, mentally and financially. Before Buying Your First House When it comes to the actual buying your first home part, it is both- exciting and overwhelming. It is a milestone, but it can also be terrifying. You will come across a whole new language of finance terms which will only add to the stress. But the … Read more

Financial Stress – Is Stress Negatively Impacting Your Finances?

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financial stress

An April 2020 survey released by the National Endowment for Financial Education found that 88% of Americans were reportedly stressed about finances as a result of the Covid-19 pandemic. Of those respondents, 54% said they were stressed about not saving enough money (for emergency savings and/or retirement), 29% were concerned about fluctuating income, and 48% were stressed about paying regular bills like mortgage/rent, utilities, and healthcare. Considering the fact that Covid-19 has impacted almost everyone on Earth in some capacity, it’s understandable if you’re also feeling stressed about money matters lately. Even with the vaccination rollouts, it’ll be months – if not years – before we return to any semblance of “normal” life. Since uncertainty about the future can create … Read more

Should You Reinvest Dividends or Take the Cash – Two Investing Strategies

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Great dividend stocks you should love

When you invest in a company, the company will pay out dividends to its shareholders. Reinvesting dividends is when you reinvest those dividends back into the same stocks that are paying them. Reinvesting can help build your portfolio faster and make more money over time, but it does come with risks. If you’re not sure what to do or if you need some guidance on investment strategies for your portfolio, this article should be able to provide some insight! Many people are faced with the decision of whether they should reinvest dividends or take the cash. Reinvesting dividends can be a great way to grow your investment portfolio, but it can also result in less spending money if you don’t … Read more

How I Plan to Maintain My Lifestyle in Retirement

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Why You Should Still Make IRA Contributions After Retirement

Note – The following post is the 3rd and final article in a series of retirement education blog posts on Money Q&A and sponsored by USAA. Be sure to check out the 1st and 2nd articles in the series, “Am I Saving Enough for Retirement?” and “How Long Will My Retirement Savings Last?”. Like always, all opinions are my own about every topic, including choosing a lifestyle in retirement. With the cost of living rising at what seems like rapid rates every year, adults of all ages are beginning to wonder how they’ll ever manage to retire and still maintain the same standard of living they enjoyed during their working years. The concern to maintain a consistent standard of living during … Read more

Starting Your Journey to Becoming a Real Estate Mogul

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Everyone, at one point or another, has fantasized about what they would do with a million dollars. Perhaps you’d buy a ski boat and spend the summers out on the water. Maybe you’d build the best and biggest entertainment center to watch your favorite action movies and the big games. What about being a real estate mogul? Or, you might have your eyes set on something greater. That’s what former professional basketball player Luol Deng was thinking. After earning over $150 million on the court, Deng has turned to real estate where he owns over $125 million worth of properties. Becoming a property owner is also one of the “quickest” ways to become a self-made millionaire. So, why don’t more … Read more