While retirement may be the last thing on your mind at this stage in your career, others are planning right now for a major life change as this new and highly-anticipated phase of life is just around the corner. No matter where you are in the process, thinking about and planning for retirement is a smart move, as it is something that ought to be well-prepared for… and the earlier, the better.
Money, safety, and overall happiness are all top of mind when it comes to being able to retire meaningfully and comfortably, and that is why the personal finance website, WalletHub has recently released an in-depth study covering 2018's Best & Worst States to Retire.
All 50 states were compared in terms of "retirement-friendliness" by WalletHub's team of experts. Affordability, health care, and quality of life were evaluated and broken down further into 41 relevant metrics including topics such as cost of living, cost of in-home services, taxpayer ranking, percentage of workforce aged 65+, number of museums per capita, number of theaters per capita, percentage of population aged 65+, life expectancy, property crime rate, weather, quality of public hospitals, and so on and so forth.
Before you make retirement plans, check out the 10 best states to retire:
And which states are not as rad for retirees? Here are the 10 worst:
Head down south to the "Sunshine State" to spend your golden years among other satisfied retirees enjoying the good life. As per WalletHub, "Florida has the highest share of the population aged 65 and older, 19.1 percent, which is two times higher than in Alaska, where it is lowest at 9.4 percent." Great weather and a well-deserved relaxing and fulfilling quality of life brings folks to Florida to live out their retirement years among peers who have put in many years of hard work and now wish to bask in the rays of the warm Florida sun.
Is retirement something you would rather get moving on sooner than later? Perhaps you have the option and ability to retire early but you are not sure it is the right move at this stage in your life. Here are three perks of retiring early to consider before you hand in that resignation slip and call it quits.
For further in-depth information about this retirement-based WalletHub study and deeper insight into their unique methodology as well as the full 50-state ranking, see the entire 2018 report.
Happy retirement, when-and wherever it may be!
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.