Well, the kids are back in school, and I don’t know about you, but as far as I’m concerned, they can stay in school forever. There. I said it. One thing I’ve learned in just the last week since school started is that I love being back in a structured environment. I love being back in my office and not having children call me to ask me when I’m coming home, what’s for lunch, could I drive them over to a friend’s house – none of that is going on anymore.
I know many of you opened your statements on June 30 at the end of the second quarter and probably wished you hadn’t. You may or may not have burned them. That said, July was a good month as equities and bonds recovered from their lows. During this same period of time, we also had a hot inflation number we hadn’t seen since the early ‘80s of 9.1 percent. We also saw the Fed raise rates another .75 percent.
A quarter of a century – wow! That’s right, as I’m now working on my 26th year in this business, I’m reminded of how things change, and yet, stay the same. When I first started out in 1997, my Great Aunt Sunny was 75 (she’s about to turn 100!), and I was trained that, when I called people on their home phones, I was to identify myself, tell them what firm I’m with, and ask them this shock & awe question: are you concerned about the price of gas?
With inflation at all-time highs these days, many people are feeling the pinch in their budgets, and are looking for ways to cut costs, tighten the belt, and find a little extra cash. Refinancing your mortgage could still be a way to mitigate those daily effects on your budget. True, rates aren’t at the historic lows we saw last year, but you could still save some money.
Before I start on my comments about what’s been going on, I want you to know that I’ve been working on what to say for the last 30 days. Now that we’re a month into the year, I can add some color to what we’re seeing.
When a client comes in and says they’ve found their dream home, whether that’s a horse farm or a downtown condo, I absolutely want you to have that. If you’re thinking about purchasing a new or additional property, I encourage it – if it fits your lifestyle and you can afford it.
Buying a new home is a big decision, and brings big life changes no matter when or where you’re buying. The last year has sent the real estate market into overdrive, and added a whole new set of decisions and things to consider.
We’ve been talking recently about homes – you can read about building here, buying here, and mortgages here. Today, I wanted to share my recent experience and a few tips from remodeling both my personal home and our Family Financial Partners office.
So you’re finally ready to take the plunge and retire, but first you need to hire a financial advisor to help you navigate this process. Choosing someone to manage your money is an important task that can be daunting. Wondering where to start? These five questions will help you determine if a potential advisor is right for you.
When was the last time you reviewed your mortgage? If it’s been a couple of years, it may be worth pulling out those documents and taking a look at your rate, terms and payment. A few things have happened recently that might make this a good time to look into a refinance, especially if you have a strong credit score.
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