Tag Archives: home ownership

When Finances Matter: Buying Advice for Potential New Home Buyers

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First time buyersBy Jennifer Caughey,

Special to the Financial Independence Hub

A paid-for home is the foundation of financial independence, according to this web site. But long before you reach that stage, stepping up to buy your first home can be a daunting process. It takes time and careful planning. Finances are especially important when you’re considering taking the huge step of buying your first home.

Not only do you have to consider whether you can come up with the down payment and closing costs, but you also have to think about whether you can afford the upkeep of ownership, potential repairs and improvements, and the full cost of buying a home in the first place (including principal and mortgage interest payments). There are a lot of variables to consider and potential home buyers need to be prepared for everything involved in the home buying process.

The True Cost of Home Ownership

Financially speaking, buying a home is a big deal. There’s a lot to think about in terms of where the money will go. It goes well beyond just paying for the home that you decide upon. There are plenty of areas where you have to ensure that you can afford this process, including: Continue Reading…

Weekly wrap: Retirement is fun — who knew? And a plea to seniors to “unretire”

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Cheerful old man having a great timeSheryl Smolkin’s Retirement Redux site passes on recent financial institution surveys that show The Majority of Retirees Enjoy Their Lifestyle. Well I should hope so, after spending decades slaving and saving for this pivotal life event!

But in this weekend’s lead editorial, on behalf of the Canadian economy, the Globe & Mail begs the nation’s seniors  to “please don’t retire yet.”  It invokes Sun Life’s Unretirement index survey reprised in Friday’s blog here at the Hub. Well, actually, Mr. Economy, there’s a lot of age prejudice in the workplace and people don’t always choose to retire.

For those just starting on their journey to financial independence, take heart from Punch Debt’s declaration that saving up The first $100,000 is the hardest. I dare say your first million is no walk in the park either!

Via Sliced Investing, The Chicago Financial Planner (aka @rwohlner) provides this primer on hedge funds.

This may not be as recent but I found an entry at Investopedia.com to be eternally relevant: it’s entitled Two Roads: Debt or Financial Independence. I choose door number 2! Continue Reading…