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Guide to Investing in Your 40s – Top 3 Tips You Need to Know Right Now!

Investing in your 40s is like trying to stay on top of a surfboard while riding a wave. You’re no longer kicking, splashing, and floundering in the water as you might have in your 20s, and you’re likely enjoying much more stability now compared to your 30s. The “shore” (retirement) is within view, but you still need to work hard and be willing to adapt to changes in the “surf” (economy/workforce) to make it to shore without getting crushed by a wave of debt or despair like the others who didn’t plan for retirement years ago. Investing in Your 40s To stay afloat with your investment strategy, here are a few things to keep in mind while you’re investing in … Read more

Top 4 Critical Things to Know Before Buying a Home in an HOA Neighborhood

by Hank Coleman

There are many misconceptions about homeowners associations (HOAs) in media and pop culture, which may inadvertently drive people away from buying a home in an HOA neighborhood that they might’ve otherwise loved living in. There are certainly some disadvantages to HOAs, but the downsides aren’t as clear-cut as you might think. Before Buying a Home in a HOA Neighborhood If you’ve considered purchasing a home in an HOA neighborhood, then here’s what you need to know before making your final decision. What is a Homeowners Association? An HOA is a not-for-profit organization designed to maintain the community and increase property values by setting minimum guidelines for neighborhood safety, exterior appearances, community amenities, and more. Some people dislike the idea of … Read more

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

by Hank Coleman

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

by Guest Contributor

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?

by Hank Coleman

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

How I Plan to Maintain My Lifestyle in Retirement

by Hank Coleman

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