This weeks readings are mainly covering housing with a few extra oddballs. I really enjoyed article #5 and #6 because they challenge the norms of what society is telling us, and even what the financial independence folks and early retiree’s often advocate for. I like to see articles that challenge the norm. If done well, they can create quite a following and instill an exciting new sense of what’s acceptable in society. I’d like to hear some topics you’d like me to write about in my Friday posts, so feel free to email, comment here, or even in the Facebook group for those suggestions.
- These Small Towns Will Pay You To Move There: Are you willing or desiring to live in a rural community? Most Americans, especially over the past few decades have migrated towards larger cities and proportionally there are fewer and fewer Americans living in small towns or even in rural townships. As these smaller towns lose popularity, some are starting to provide financial incentives to those that are willing to move out to those towns. Some of the incentives are pretty enticing too! Plus, I’m willing to bet that the cost of living is probably noticeably lower in some of these areas as well. I’d definitely consider some of these if my job didn’t require me to be in the urban area I’m in.
- Kevin O’Leary says follow these 2 tips to buy a home that will appreciate: These two tips from Mr. O’Leary (from Shark-Tank) aren’t exactly groundbreaking, but needless to say, they are very important considerations to keep in mind when searching for a home. These are especially important in my particular situation where we are looking into our first home purchase and primarily due to my job, the location of our future home will undoubtedly be in a fairly urban area.
- Housing costs include more than just the mortgage payment: Anyone that owns a home should have a very good understanding of this, but for those that have only rented…maybe that image isn’t so clear. Needless to say, there are many other costs besides your mortgage. These include, but aren’t limited to, insurance, maintenance, upkeep, upgrades, emergencies, etc. So, if you (like me) are searching for your first home and mortgage, spend the time to calculate how much the non-mortgage costs will add up to. And like a few professionals have recommended, aim to keep your total housing costs under 28% of your total budget!
- How to prepare for a competitive spring home-buying season: It’s no surprise that it’s definitely a sellers-market right now. Most buyers aren’t going to be lucky enough to buy significantly under listed price. So what do you need to keep in mind and do in advance to prepare for that? This article lays out 4 tips for how to enter that market and hopefully grab that house you really like before some other family does.
- Finding Internal Measures of Personal Finance Success: There are a few ways to measure success, and especially in an environment like this, it’s easy to focus only on the external measures (aka your popularity or likability) instead of internal measures (what matters to you). This article outlines a guys transition in prioritizing certain metrics more than others. It’s incredibly addicting to seek out external measures to so important to balance or override those with the appropriate internal measures. I struggle with this, but am working on improving my internally created measures so I am more reliable and consistent in my ability to feel successful despite the barrage of weird stuff life throws my way. As my focus isn’t solely on financial well-being, this is a very neat article that ties financial and mental well-being together in a very profound way.
- The Retirement Myth: This article provides an interesting take on the perception and expectation of retirement in our modern world. Though I will always advocate for achieving financial independence as soon as possible, I don’t necessarily think that true retirement (early or not) is the best answer for everyone. This article outlines why and even renames “retirement” as your “Third Act” to encourage a different mindset when thinking about it. Let me know what you think about this one!
- Why You Should Listen to Money Podcasts: It’s no surprise to see blogs and podcasts talking about personal finance and money in general increase in popularity over the past decade or so. Most people absolutely suck at managing money, and creating good financial plans, and could really use all the help they can get their hands on…myself included! I personally try to keep up with 8 blogs and 3 podcasts dealing with money. They have, in fact, been a major contributor to me turning my financial life around.
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