A POSITIVE ATTITUDE CAN MAKE ALL THE DIFFERENCE

#PositiveAttitude #attitude #talent #discipline
To your eyes, is the glass half-empty or half-full?
When working with a team on a project, are you the first to see the worst-case scenario, and be immediately convinced that the worst will happen?
When getting reassigned at work, do you automatically presume it will be the worst thing that could happen?
Vicki Hitzges discusses attitude in her little book, “Attitude Is Everything: 10 Rules for Staying Positive.”
Her 10 rules include: wait to worry; keep an attitude of gratitude; your health is your wealth; the serious benefits of belly laughs; joy boomerangs; losing the fight? write; keep the faith, baby; learn to say “no” graciously; understand the power of discipline; and surround yourself with positive people.
In the interest of space, let’s focus on the last two rules. Hitzges tells the story of Lilly Mae, a bright girl from a good family who had a solid education. “She knew a smattering about everything, from how the moon affects the tides to surviving a freezing weekend without a tent in the forest,” the author writes.
Unfortunately, Lilly’s parents never disciplined her. She never had to do chores, was never taught to say “please” and “thank you,” and never really obeyed her gentle mother, the author writes. As a result, she grew up overweight, with poor study habits and poor social skills, according to Hitzges. Yet, she could sing, play the piano and play the ukulele. She could transform leftovers into a feast. She, indeed, was talented.
“Talent is cheaper than table salt,” Hitzges quotes novelist Stephen King. “What separates the talented individual from the successful one is a lot of hard work,” Hitzges quotes King.
In other words, “talent without discipline won’t take a person far,” the author writes. “Talent with discipline races like a thoroughbred.”
Something else is true. One who has discipline can be more successful than a person with more talent and less discipline.
As you think of this concept, think of athletes, musicians etc. who make a living with their talent. They are essentially forced to be disciplined to hone their craft and practice with others, and on their own, tirelessly. Otherwise, in most cases, they won’t make a living with their talent.
Those less talented than others who make a living in, say, sports or music, do so strictly through hard work. If you can’t outrun someone, out-work him.
As for positive people, the author writes: “Spent much time around people who just drift through life? They don’t set goals, expect others to pick up the slack, just don’t care. Avoid them!” the author writes.
Another adage: “If you can’t change the people around you, change the people around you.”
Negative people will work really hard to try to talk you out of being successful. Hang around people who will support your endeavors, and encourage your success.
If you are a person who considers himself or herself disciplined, and have a need to find a vehicle that could help you become successful, and introduce you to positive people, there are many such vehicles out there. To learn about one of the best, message me.
Your success doesn’t depend on circumstances. Things will happen to you, but those things don’t determine your success. How you deal with them determines your success. Your positive attitude will help you combat any pitfalls in your life, and allow you to take advantage of the good things that come into your life.
Peter

ECONOMY AFFECTS MILLENNIALS’ HOMEOWNERSHIP

#HomeBuying #homeownership #millennials #RealEstate
Contrary to what one might think, millennials actually want to buy houses.
But, the economy is stopping them from doing so, in significant numbers.
As with previous generations, they believe owning is better than renting.
“We’re wasting money where we are right now,” said Chris Eidam, 27, who lives with his girlfriend near Bridgeport, Conn. “We just take our rent and we throw it away. That money doesn’t go to anything,” said Eidam, who was quoted in an article on the subject buy Agnel Philip for Bloomberg News. It was also published in the Jan. 1, 2018, edition of The Atlanta Journal-Constitution.
The article points out that stagnating wages, rising housing costs and lack of supply are hindering first-time home buyers.
Still, the article says, for two straight quarters, homeownership rate among those 35 and younger has increased.
But, these are not their parents’ times. Decades ago, a lender would look at a young person that had a steady job, figure out what payments they could afford and determine whether they could buy a certain house. The lenders actually bet on a person’s good name and reputation and loaned them the money.
Today, lending restrictions are stricter. Buyers, sellers and real estate agents, too, have to hope that the agreed upon price meets the lender’s appraisal. Often, the appraisal comes in less than the agreed-upon price, prompting sellers to back out of the deal. Lenders have encouraged appraisers to be strict, to come in less than the fair market value.
Secondly, today’s young folks don’t have the job security that their parents often did. If their parents worked at, say, the local phone company, and had a decent wage, the lender could look at that as an income unlikely to go away. Today, no job is “secure,” and paychecks could dry up just like that. Lenders don’t really want to own real estate and, during the recession, that real estate often came back to lenders worth less than the money owed. Some of that can be blamed on homeowners playing fast and loose with home equity, but that’s another story.
In the overall scheme of life, stricter lending standards may be a good thing. But to those wanting to buy their first home, they are a detriment.
Lending standards have relaxed some in recent times, the article says, but younger folks are carrying record levels of student debt and can struggle to qualify, according to the article.
Home building today is also geared more toward high-end homes, and away from so-called starter homes, the article says.
Still, the experts, according to the article, believe the home-buying market among millennials will equal, or come close to, that of their parents decades ago, the article quotes Ralph McLaughlin, chief economist at Trulia.
So what is a young person, or young couple, that wants to buy a home, to do? First, figure out what you can afford. Don’t expect your first house to be perfect, especially, as the article points out, if you expect to change jobs, or move away from your location. You can always trade up, or remodel, later.
If your income, debt load etc. is making home buying difficult, look for a vehicle that can augment your income by devoting a few, part-time, off-work hours a week. There are many, non W-2 vehicles out there to do that. To check out one of the best, message me.
Finally, if you see a house you can afford, and you are reasonably happy with the location, overlook any cosmetic deficiencies. You can fix those eventually with time, patience and elbow grease. Remember, too, that perfect houses, like perfect people, don’t exist. Every house will have something about it you don’t like. Don’t dismiss good deals out of hand over something you can ultimately fix.
Remember, too, that homeownership is not for everyone. It may have been part of the American Dream, but it’s no sin not to own. Owning your own home comes with great responsibility. If you don’t want or need that, rent, and invest in other things. In short, do the math, figure out the kind of life you want and proceed accordingly.
Peter

RESULTS VS. PROCESS: THINKING OUTSIDE THE BOX

#ThinkingOutsideTheBox #task #process #PaperAirplane
Some kids in a class are asked to each make a paper airplane.
After each made his or her airplane, they would compete to see which one flew the farthest.
One kid waited forever, then, at contest time, never made his plane.
Instead, he took his piece of paper, crumpled it in a ball and threw it. It went farther than any of his classmates’ planes.
This story is the premise for the book, “Paper Airplane: A Lesson in Flying Outside the Box,” by Michael McMillan.
If you were the teacher in the class, would you applaud the crumpled-ball boy for thinking outside the box? After all, school is based on rules, process etc. In school, one learns to follow a process, perhaps to the letter, even if his or her results might be better going a different route.
“Maps (or processes) simply explain the territory you’ve yet to explore,” McMillan writes. “They are based on information and understanding gained by earlier travelers. (But), they can also be detrimental to creative thinking. If you follow them too closely, you can miss information not yet seen or understood by the map’s creator,” he writes.
The boy’s crumpled ball, in McMillan’s mind, was seen as a “breakthrough idea,” or “paradigm shifter.”
Certainly, when we send children to school, we expect them to follow the rules, obey the teachers and not misbehave.
We have also seen school settings in which children were allowed to “express themselves” in ways they see fit. We sometimes look upon those settings as unruly.
But what if children were taught to think of ways, on their own, to solve problems, while, at the same time, not hurting others or interfering with others? How can we discover “breakthrough” thinkers, or paradigm shifters at a young age? How will they show themselves in a forum governed strictly by rules and process?
Perhaps it depends on the teacher – how he or she was trained, what the school administration encourages, or discourages, etc.
We’ve all, at one time or another, have been told that following the rules was the best course of action. There was security in following the rules. You were less likely to get in trouble. You will get what you need in life by following the rules.
Yet, so many brilliant people have made their mark by NOT following the rules. In fact, all, or nearly all, of us may have to, at some turning point in life, be put in a position to think outside the box. Our following of the rules did not pay off. What we thought was safe has been suddenly taken away. We get kicked in the teeth for being good boys and girls, and following the rules.
If you are in that position, there are many different ways to get out of it. But, you HAVE to be willing to think outside the box. To check out one of the best ways out, message me.
With less and less security looming for most of us, it will likely become necessary to think of different ways, from what we know, to live, and to make a living. Instead of getting angry about what has happened, crumple up a piece of paper and throw it as far as you can. Then, go about thinking about which Plan B is going to help you the most.
Peter

WEARY TRUCKERS HAVE FEW PLACES TO REST

#truckers #trucking #RestForTruckers
Truck drivers are expected to rest after so many hours behind the wheel.
And in and around some big cities, where a big chunk of their deliveries and pickups take place, there are few places to park and take a break.
This causes drivers to waste time behind the wheel looking for a stopping place.
David Wickert, a reporter for The Atlanta Journal-Constitution, discussed this issue as it pertains to Atlanta in the Sept. 18, 2017, edition.
Driving a truck can be grueling. So, any wasted time behind the wheel exacerbates the problem.
“That’s trucks that are driving more than an hour for essentially no reason (looking for a place to rest),” Wickert quotes Daniel Studdard, the Atlanta Regional Commission’s freight planner.
So why not build more private truck stops? Local residents may balk, objecting to the noise and other nuisances linked to truck stops, Wickert writes.
Freight traffic in Atlanta is expected to rise 76 percent in coming decades, Wickert writes, so a solution to the problem is a necessity.
Or is it? Let’s examine the problem. As long as humans are driving trucks, rest periods will be required. But what if the trucks become driverless in the coming decades?
Anyone who drives for a living, be it a truck, bus, cab, ride-sharing vehicle etc., has to be concerned that their jobs could disappear over time.
The driverless vehicles have yet to be perfected – a fatal accident involving a driverless vehicle occurred recently — but there are lots of companies, Google among them, working on them.
First, it will be driverless cars. Then, who knows what vehicles will become driverless.
Remember, it’s the human drivers who have to rest, not the vehicles.
Who knows how long it will take for driverless trucks to be the most common delivery vehicles?
If you drive for a living now, and want to prepare for the day when your truck, or whatever you drive, will be driven by a computer, you should consider a Plan B – something that will give you an income when your windshield time goes away. There are many such income-producing vehicles out there. To check out one of the best, message me.
Meanwhile, there will be a temporary problem for human drivers around big cities. In Atlanta, Wickert quotes an ARC survey, eight counties around Atlanta have no private parking for truckers. Parking along the side of the highway is prohibited, not to mention unsafe. Some truckers have resorted to that, Wickert writes. Or, they park on private property without permission.
When Willy Seals, 70, parked his rig at a Home Depot parking lot, it was booted, Wickert writes. It cost Seals $250 to get the boot removed.
So Atlanta, and undoubtedly other metropolitan areas, is struggling with this problem. How temporary it will be will depend on the technology.
Meanwhile, not only will there be little rest for the weary, but also a lot of wasted road time and fuel, not to mention the increased possibility of accidents etc.
The drive to make driverless trucks, therefore, becomes a potential nightmare for all those fatigued drivers.
Peter

‘GIGGERS’ AND THE YOU ECONOMY

#giggers #SelfEmployed #SoloPractitioners #NonEmployerEstablishments
South Florida is loaded with “giggers.”
Atlanta, Dallas, Washington and Boston have also seen a surge.
What are “giggers?” They are one-person shops or, in bureaucratic parlance, “non-employer establishments.”
“Between 1997 and 2015, the number of non-employer establishments – that is, self-employed, freelance workers and independent contractors that aren’t often counted in traditional government measures of job growth – in the Miami area rose 142 percent,” writes Nancy Dahlberg in an article for the Miami Herald. The article was also published Dec. 25, 2017, in The Atlanta Journal-Constitution.
That growth is more than twice the national average of 58.6 percent, Dahlberg writes. The other metro areas showing growth behind Miami include Atlanta (126 percent), Dallas (95 percent), Washington, D.C. (78 percent) and Boston (31 percent), according to the article.
This trend shows that people with imagination and a marketable skill who want to work, but don’t want to be employed or are having trouble finding a traditional W-2 job, are using their skill and imagination to help others, while earning money.
The article also quotes a 2016 McKinsey Global Institute report that found about 27 percent of working-age people in the U.S. and Europe engage at least partially in independent work. It also quotes a 2016 study by the Minneapolis Fed that found the engagement at 37 percent in the U.S. alone, and government estimates show that rate could rise to 40 percent by 2020.
The 2008 recession has had lots of effects on lots of people. Some chose to continue to look for new jobs, with varied success. One should consider himself or herself incredibly fortunate if he or she had lost a good job, but subsequently found a better one. For many, if they have found new work at all, it pays less than they were making before. Therefore, a lifestyle adjustment became necessary.
But suppose you have some imagination, but don’t have a really marketable skill that you can peddle on your own? Or, what if the skills that you have are difficult, if not impossible, to ply in an independent setting?
Fortunately, there are many ways out there that you can earn a potentially significant income – perhaps even more than you’d ever earned before – without having a W-2 job or any specific skill or background. To check out one of the best, message me.
Most of us dream of working until a certain age, then perhaps concentrating on a favorite hobby or hobbies to occupy our time after working. For some, retirement came before they wanted, or were ready, and they are using their hobbies or skills as a solo practitioner.
For some, a lifestyle adjustment was required. Many of us dream of the time when we make a lifestyle adjustment only for the better.
We are moving toward a more “you economy,” in which you call your own shots, you solve your own economic problems and you advance your lifestyle.
What if you could do all those things, and help others do the same?
What if the “you economy” were not forced upon you by necessity, but presented to you as a gift?
What if that bad situation – a job loss – became the best thing that ever happened to you?
To borrow from John Lennon, you may say you’re a dreamer, but you’re not the only one.
Peter

HOUSING MYTHS

#housing #LowIncomeHousing #poverty #gentrification
There are three myths in the housing market.
First, gentrification has as much to do with morals as with economics. Second, there is more poverty in cities than suburbs. Third, having low-income housing in one’s community reduces property values.
Darcel Rockett discussed these myths in an article for the Chicago Tribune, that was also published Dec. 18, 2017, in The Atlanta Journal-Constitution.
Since the term gentrification has many connotations, we won’t spend a lot of time discussing it. Suffice it to say, “We need to take the depth of ethical and moral disgust out of the name gentrifier, so that we can get people together and say this is something that we are a part of, but it’s also something bigger than us …. So how do we move forward?” Rockett quotes John Joe Schlichtman, an associate professor of sociology at DePaul University.
But let’s dive deeper into the other two. Poverty exists everywhere. It’s not an urban problem, suburban problem or a rural problem. Especially since the 2008 recession, you have many people who were once considered “middle class” suddenly without a job, or, suddenly losing their homes.
For some, one or both of those events can create instant poverty, regardless of where one lives.
Secondly, there are many people moving from the suburbs to the cities, essentially gentrifying some urban neighborhoods.
“The number of poor persons in suburban Chicago eclipsed the number in the City of Chicago in the last decade, and there are no signs of this trend reversing anytime soon,” Rockett quotes Scott Allard, a professor at the Evans School of Public Policy and Governance at the University of Washington.
That brings us to low-income housing’s effect on housing prices. Rockett quotes a 2016 Stanford Graduate School of Business analysis that reviewed low-income developments nationwide, funded by the low-income housing tax credit program. The impact of that housing on surrounding property values varied based on neighborhoods’ economic state and the number of minority residents, Rockett quotes the study.
“What the study finds is that the effects of putting one of these (low-income housing developments) in a neighborhood depends on the pre-existing conditions in that neighborhood,” Rockett quotes Anthony DeFusco, assistant professor of finance at Northwestern University’s Kellogg School of Management.
What all of this tells us is that housing – just one segment of the overall economy – cannot be stereotyped. “Instead of building housing and targeting it” to people with income below a certain level, “if you just build more housing, and housing was more plentiful overall, prices in general would be lower and would be more affordable for everyone,” Rockett quotes DeFusco.
Are you living where you want to be living? If not, is it because of finances? Perhaps you need to look at ways to make more money that doesn’t involve a second W-2 job. There are many ways out there to earn extra money – perhaps even surpass the income from your primary job – by spending a few part-time, off-work hours a week. To check out one of the best such vehicles, message me.
As the article intimates, it doesn’t matter how you label housing. Housing comes in all types and price ranges. You should be able to choose the housing, and location, that’s right for you. The more housing options available, the more affordable all housing becomes.
So, here’s hoping you are living where you want, in a place just right for you. Remember, too, that a house is a house. A home is created by the people living in it.
Peter

WORK UNTIL YOU ARE 70? REALLY?

#SuzeOrman #WorkUntilAge70 #retirement
Suze Orman has made a fine career of giving retirement and other financial advice.
But when she advises people to work until age 70, Wes Moss, who writes the Money Matters column in The Atlanta Journal-Constitution and also has a radio show of the same name on WSB AM, begs to differ.
Moss discussed the matter in a Nov. 7, 2017, column.
Certainly, medical advances and the like have made living longer possible. Some folks may even enjoy their work to the point of never thinking about giving it up. Others may believe that the longer they are able to keep working, the better off they will be financially.
Moss points out that the latter is pretty much Orman’s philosophy. He quotes an old joke in financial circles: “How do you never run out of money for retirement? Work until you die,” Moss writes.
In Moss’ mind, perhaps the most important reason for not setting 70 as a retirement age is that “you may lose the sweet spot of your retirement – the years when you are healthy and active enough to live out your post-career dreams to the fullest,” he writes.
Certainly, the Social Security Administration has inched up the “full retirement” age to 67 from 65, where it was for decades. But Moss points to a Bloomberg News article that says Americans are retiring later, dying sooner and are sicker in between.
Here’s something else Moss points out: companies largely do not want older workers around. Younger workers are generally cheaper. So, even as workers approach middle age, they become vulnerable to being forced out of their jobs for one reason or another.
If you are among those who are nearing retirement, and don’t have lots of money saved, take heart. There are many ways out there you can make money in your spare time, say, a couple hours a week, without taking a second W-2 job, or working overtime (if available) in your first job. To check out one of the best such vehicles, message me.
In short, unless you really love your job, think about retiring as soon as you are able. If you can foresee your job going away before you want it to, take measures to soften the blow when it comes. If you do the right things – spend less without depriving yourself, save more money, invest well etc. – you might even be able to walk out of your job with a smile.
As Moss says, you shouldn’t make it a goal to sacrifice the best years of your retirement by working those extra years. And, once you do retire, you shouldn’t waste time sitting at home, and not venturing out of your comfort zone. Have dreams. Fulfill them. Retire with no prejudices, no pretenses and no burdensome obligations.
That isn’t to say that there are some jobs that are so great, you don’t want to give them up unless you have to. But, chances are, no matter how good you are at what you do, eventually your employer is going to want you gone.
If you’re lucky, when your employer wants you gone, he or she will offer you a package to leave. If you get an offer like that, remember that few people who take them ultimately regret that decision. If you are being paid to leave, the message you should hear is that the employer want you out.
So, if you are a Suze Orman devotee, remember that not everyone agrees that one should work until he or she is 70. A better philosophy might be this: when is the SOONEST I can retire? Once you’ve determined that, think about not only how you are going to pull it off financially, but also what you will do with your new-found time.
Work, dream, save and retire.
Peter

WHICH SIDE OF THE QUADRANT DO YOU WANT TO BE ON?

#CashFlowQuadrant #RobertKiyosaki #employee #BusinessOwner #investor
The Cash Flow Quadrant.
The concept was created by Robert Kiyosaki, author of the “Rich Dad, Poor Dad” series, among other works.
Basically, Kiyosaki divides all of us, financially, of course, into one of four squares, forming a quadrant. In the two squares on the left side are the people who work hard for their money. In the two squares on the right side are the people who have systems or money that work hard for them.
Let’s look at the left side. The top quadrant is labeled E, for employee. Here are the people who have jobs in which they work hard to make someone else rich. These folks basically trade their time and effort for dollars. The amount of money they get depends on what someone else is willing to give them.
The second quadrant on the left side is labeled S, for solo practitioner, or self-employed, depending on how you look at it. These folks, too, trade their time and effort for dollars, but the amount they get paid can depend on how much time they want to put in, and how much in demand their service is. Though they pay themselves, largely, few of these folks get rich. Hopefully, they are able to set aside some money for insurance, retirement etc.
Moving to the right side of the quadrant, the top square is labeled B, for business owner. Kiyosaki said his “rich dad” called this quadrant B for big business or Bill Gates. Kiyosaki defines a big business as having 500 employees or more.
“Unlike the S, they don’t want to run the company by themselves. They want smart people to run the company for them,” Kiyosaki writes.
The B folks also could have large networks that can help them put gobs of money in their pockets. They may not own a large, bricks-and-mortar business, but they have big organizations that they’ve cultivated, and not only get rich themselves, but do so by helping others get rich in the process.
The fourth square in the quadrant is I, for investor. These are the folks who’ve accumulated lots of money, and are watching it grow exponentially through investing. Think of the “Sharks” on the TV show, “Shark Tank,” as a good example of people who are I’s.
Obviously, the object of the economy, as we in the U.S. know it, is to move more people from the left side of the quadrant to the right side.
Easier said than done, you might ask? Obviously, one can’t move freely from the left to the right. Certain things have to happen – or, better yet, YOU have to make certain things happen.
First and foremost, a person must WANT to move from the left to the right. That desire must be powerful enough to make him do whatever it takes to move – and take however long it takes to move.
Wealth accumulation requires discipline and sacrifice. You might have to give up some of life’s pleasures to get where you want to be. Take your lumps now, and take your pleasure later, as it were. It also, often, requires patience. Sure, there are some folks who inherit a lot of money and become instant investors. Big lottery winners can become instant investors, but often don’t have the discipline to do so. Therefore, many just spend their winnings until they run out of money.
You can also spend years toiling on the left side of the quadrant, putting away a little at a time and never touching it. That requires a good deal of patience.
So, how do you get from the left to the right side of the quadrant in your current situation? You may not need 500 employees, but if you have a big enough desire to move, there are many vehicles that can potentially get you there. To learn about one of the best, message me.
Meanwhile, if you are among those who criticize those who have more money than you, and you continue to toil on the left side of the quadrant, you may need an attitude adjustment, f you want to go to the other side. You may also need a big-enough desire to join, rather than beat, those you now criticize.
A move to the right side of the quadrant could be possible if you BELIEVE you can get there.
Peter

FEAR OF RETIREMENT

#retirement #FearOfRetirement #boredom #RetirementFinancing
Are you afraid of retirement?
Does the thought of not working anymore create anxiety?
Are you postponing retirement, even though you know you should retire, because of your fear?
There may be lots of reasons people fear retirement. The biggest, perhaps, is financial. Perhaps loss of a paycheck would crush you. Perhaps you haven’t saved enough, and your pension, if you are lucky enough to have one, plus Social Security may not be enough for you to live the way you want.
Another fear may be boredom. You may say things like, “what am I going to do with myself?” Perhaps you don’t have a hobby or hobbies to occupy your time. Perhaps you fear what you might become by just hanging out, day in and day out.
Retirement experts have advice on both counts. Most say that retirement without the financial backing would be difficult. One way to determine whether you have enough to retire on is to look at your savings. Without touching your principal, are the dividends, interest and capital gains those savings produce, combined with other income such as a pension or Social Security, be enough for you to live on?
When we talk about “living” in retirement, it should be more than just survival. You should be able to have the money to do things you like to do, perhaps things you never had time to do while you were working.
If you think about this while you are young, you can plan accordingly. If you are older, and are at or close to a reasonable retirement age, and believe you won’t be financially secure in retirement, you may as well keep working as long as your employer will keep you. Remember, though, that you could walk into work one day, and be shown the door.
Let’s examine the time factor. If you believe you’ll be bored in retirement, there are many activities available to occupy your time. There are countless volunteer opportunities, for example. Before you retire, find an activity that would interest you. There should be no reason anyone has difficulty occupying his time.
There are some solutions that would both occupy your time and give you a potentially great income. To check out one of the best, message me.
In this day and age, retirement decisions are often made FOR people. Employers who reorganize, downsize or otherwise want older workers gone use many tactics to get people to leave. If they don’t leave voluntarily, the employer will find some reason to terminate them. Most employees don’t have recourse against the employer, and most older workers will have trouble finding new employment in their professional fields.
Older workers are supposed to be protected by labor laws, but creative employers will find ways to force them out.
The lesson in all this is that one should prepare for retirement as soon as he starts his career. Unlike decades ago, when job security was more prevalent, there is no real job security in any field today. A worker is one reorganization, or one bad manager, away from a dead career.
If you can work until you want to leave on your terms, you are among the very fortunate. More than likely, your retirement decision will be made for you.
If you are at a good retirement age and fear retirement, you may be wise – especially if you see things in your workplace that seem stacked against you – to retire as soon as you are able. Know that it won’t be hard to find things to occupy your time. In fact, you’ll probably find it amazing that you had time to work.
Peter

PREPARE FOR COSTLY REPAIRS

#HomeRepairs #MoneyForHomeRepairs #RainyDayFund
It’s been said that if your (pick one: car, refrigerator, heating system) breaks down, you’ll always find the money to fix it.
That is true as long as you are prepared financially.
Erica Lamberg discussed preparing for costly home repairs in an article for GOBanking.com. It was also published in the Nov. 13, 2017, edition of The Atlanta Journal-Constitution.
Some people have a rainy day fund for such things. Others, who are not prepared, have to do without until they can come up with a way to pay for the repair.
As one can attest, it’s tough to live more than a few hours without your car, refrigerator or heating system.
Lamberg also talks about unexpected roof repairs. As she advises, though a roof is supposed to last 30 years, don’t wait that long to take preventative action. “A new roof, for an average-sized home – using medium-priced asphalt shingles – can cost at least $5,000 in most parts of the country, assuming that the sheathing is still sound,” Lamberg quotes Timothy G. Wiedman, a retired professor of management from Doane University in Nebraska.
She writes that Wiedman, who has bought, maintained, upgraded and sold several homes, said homeowners would be wise to start putting $600 to $700 a year into a roof replacement fund.
As for your heating system, Lamberg advises regular maintenance by a good local HVAC contractor. Twice a year, at the beginning of the heating and the beginning of the cooling seasons, is recommended.
“The proactive approach of being ready for the eventual changing of your equipment will save you money,: Lamberg quotes Gene Amick, with Climate Control Heating near Kansas City, Mo.
There are a number of things around your home that wear out over time. Sometimes, just regular maintenance helps prolong the life of those things. Other times, as in the case of your roof, or perhaps, your refrigerator, it’s best to have a fund that you can tap when replacement time comes.
Sometimes, having an income source that can help you pay for those things is warranted. There are a number of ways out there to earn extra money without having to get another traditional job, or begging your boss for raises. To check out one of the best – and you may find ways to save on new appliances and cars, too – message me.
Avoiding unexpected breakdowns is not just a money issue. It involves paying attention to things. The easiest way to get financially hammered by an unexpected repair is to ignore things. If you have a storm, particularly a hail storm, have your roof inspected. If you are lucky enough to have a good homeowner’s insurance policy, you might be able to get that new roof paid for.
Have your car regularly maintained. Regular oil changes over several years are cheaper than buying a new car. A good rule of thumb for vehicles is not only to get regular maintenance, but also to do the math on repairs. If the repairs become too frequent and expensive, a new car may be in order.
Most people do save for new cars, and plan their new-car purchases. But for those unexpected breakdowns, make sure you have a fund to cover the repairs.
Don’t let unexpected household repairs or purchases break you. Plan ahead. Have a source of funds readily available so you don’t have to do without for too long.
Peter