September 15, 2011 – 12:32 pm
There isn’t a worker in America who doesn’t know he or she should be saving money—especially given today’s economic conditions. Whether you’re saving for a home down payment, college tuition or a retirement nest egg, investing in the future is a wise financial decision. Understandably, the two most pressing questions usually are: “How much can I afford to save?” and “What is the best way to make my money grow?”
Financial experts agree that long-term investing is the surest way to build savings—and also that you do not need a lot of money to get started. What is critically important, however, is that you save on a consistent basis.
There are classes you can take, books you can read, and experts you can consult in order to learn the finer points of investing. To begin with, however, there are three fundamental steps you must take:
1. Determine your savings goals. You need to know what your savings goals are in order to figure out how to get there. Let’s say you want to retire at age 65 with the same standard of living you have now. You can find retirement calculators online to help you determine how much money you will need in order to reach that goal.
2. Evaluate the stock market. Guaranteed investments and savings bonds are great for reaching short-term goals. They generally return about 2% to 5% at best. But if you have some time to reach your goal, investing in the market will likely be your best approach. Averaged out over the last 25 years, despite some trying times, DOW returns have paid around 9% or 10%. Here’s the difference: Over 25 years, a $10,000 investment at a 3% rate of return will grow to $26,000. A 9% return will give you $86,000.
3. Understand that time is money and plan accordingly. To be successful at saving money, it must be approached as a long-term plan—get-rich-quick schemes rarely, if ever, work. Therefore, the earlier you start to save, the more money you will have down the road. In these scenarios, assume a 10% rate of return compounded annually:
- Begin investing $100 per month at age 30 until you reach age 65. At that point, you will have about $345,000 in investments. You will have put in $42,000 over the 35 year span. The other $303,000 is from the growth of your money over time.
- Begin the same $100-per-month saving plan at age 20. At age 65, you will have about $916,000. You will have invested $54,000. The other $862,000 is from the growth of your money over time.
By RIS Media
September 12, 2011 – 4:33 pm
Establishing direct connection with multiple bank loss mitigation departments, helping home owners delay foreclosure when faced with a notice of default/ notice of trustee sale. This connection will help buy more time to complete short sales process. It’s not what you know, it’s who you know. More to follow.
September 9, 2011 – 2:38 pm
From losing a job to losing a home, many Americans have suffered the slings and arrows of the recession over the past few years. This has forced many to make the difficult decision of filing for bankruptcy. While bankruptcy is the least desirable option when in financial distress—leaving a large scar on your credit rating for 7-10 years—it is often the only one left.
Even once they emerge from a bankruptcy, many are still confronted with a long-term impact on their credit rating, making it nearly impossible to find credit at a reasonable cost. According to the credit experts at ApprovalGuard.com, many creditors will not lend to you for one to two years. When you finally begin to qualify again, you will typically be categorized as “extra high risk,” which is often accompanied by lower credit limits and very high interest rates.
The good news is that nothing in credit is forever. The effect of a bankruptcy on your credit score can start to diminish the day your case is closed. Here are some important post-bankruptcy strategies to follow:
- Plan your credit recovery. Take it slow and easy and do it right; don’t exceed what you can afford.
- If your credit report contains inaccuracies about debt that was discharged through your bankruptcy, contact the creditor or the credit bureaus to request a correction.
- If your problem was over-spending, create a written budget and STICK to it.
- To re-establish a strong credit profile, you need a good history of payments from credit cards and installment debt, such as autos, student loans or a home loan.
- The rebuilding process requires you to use credit responsibly. Use only a small portion (30% or less) of your available credit line and ensure you make a payment every month.
- If your problem was related to medical bills, seek out a solution for insurance.
- Learn more about how credit works through the Internet, counseling services or a service like ApprovalGuard.com.
- If you didn’t have enough savings to survive a setback, get serious about savings for an emergency fund. In the current economy, you need at least 12-16 months.
- When you start to re-establish your credit, consider a “secure” credit card. Such cards are usually backed by your savings account or money you place in escrow to cover 100% of your credit line in case you don’t make your payment.
- You may be able to apply for a home loan in as little as two years after the discharge of your bankruptcy, however, expect to pay higher fees and interest rates. I can offer you more specific information based on the particular details of your situation.
August 30, 2011 – 11:45 am
Ten years ago Matt Lockhart found us a wonderful home in our dream neighborhood and helped us navigate the crazy process of purchasing our first home. When we relocated to Denver three years later Matt listed our San Diego home and it sold at our asking price within a week. Most recently we worked with Matt to purchase a second home in Encinitas. Being out-of-state buyers, Matt’s experience, hard work, and helpfulness have been invaluable- making the long distance process as smooth as possible. He was able to show us a wide range of possibilities, from condos to luxurious beach homes up and down the coast- ensuring that we would find exactly what we wanted. And we did! We are thrilled, once again, with our most recent transaction. Matt went beyond expectations, even helping with some repairs on the house, and seeing that everything was well taken care of. It is clear that as a San Diego native Matt’s knowledge of local real estate is extensive. As an agent he is thoughtful, honest, hard-working and thorough and we easily recommend Matt to everyone we know. I think one of the contractors we worked with best summed it up when she told me; “Your realtor is way more on top of it than the other guy.” Matt Lockhart isn’t just a great real estate agent- he’s an amazing person, and we are lucky to know him and work with him.
-Jason and Amy
August 19, 2011 – 4:13 pm
Thank you to all my clients!!! We can all debate the market, debate renting, debate selling but there is still nothing better than homeownership!
A view of a beach home sold this summer.
Quotes from my last transaction..
“This is excellent news! Thanks for driving such a hard bargain!”
“You are the best Realtor we’ve ever had the pleasure of working with over the past ten years. Very well done here. You’ve made our lives so much easier because of your hard work and dedication.”
Gary & Kelly
“Matt,
Click on the attachment for our picture. We received your card and a cd of the documents associated with the sale. Thank you so much for everything.
We spent our entire Spring Break at IB and it was awesome. I walked along the coast and the boys fished and played in the waves. It was amazing and worth all of the sacrifices. The short sale process was tedious, but I do think we got a fabulous deal and I would do it again. It is really hard to believe everything worked out…it is just fabulous.
Your patience was priceless.
Thanks,
Dina”
“Please see feedback from Tapas De regarding the area tour that was provide to him by Matt Lockhart… Great job Matt!
Sincerely,
Maria
Prudential CA Realty Relocation
Relocation Coordinator
P Please don’t print this e-mail unless you really need to.
From: Tapas De ]
Sent: Monday, March 28, 2011 3:05 PM
To: Root, Maria
Subject: RE: San Diego/Celgene
Hi Maria:
It was great tour around the area of San Diego. Matt had a very good planned tour for me. We went to different apartment complexes near (2 km) the Celgene building. Talked to people in the rental office and also visited the actual apartments also. Another part of the city he took me was Miramar and Miramesa.
Now I have a good idea about the layout of the city after the tour given by Matt. He talked about the school districts, availability and price range of condominium and houses of different areas.
It was a great service by matt. Thank you all especially Matt.
Thank you,
Tapas
Celgene Corporation”
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