Why You Need a Home Inventory

Do you have enough insurance and could you collect?

Why You Need a Home Inventory!

Why are most people unconcerned about something so essential as the preservation of their assets? There are at least two good reasons. The first is they trust the money creators; hard to believe but they do. They implicitly trust the nice bankers, the nice government men, and the nice bureaucrats and politicians…
Having a detailed listing of all your home’s contents, along with proofs of purchase and serial numbers is an important first step. If a fire or flood destroys some possessions, the insurance company will need a detailed list of everything that was lost.
You have that list, right? It’s safely stored in a secure location other than your home, correct? And you update it annually? Congratulations, you are one of the .01% of homeowners that do!
Now, let’s be serious. There is a high probability you don’t do this and you are not losing sleep over it. Last time you checked, the amount of insurance to cover your home’s contents seemed so high you could replace everything in your house and have enough left over to furnish your neighbor’s place.
>Estimating monthly expenses you face during retirement helps to keep your finances in line and allows you to enjoy the money you’ve earned from your working years. Online sites, such as Vanguard, help to calculate your expense estimates with a worksheet.
Here are seven expenses to plan on for retirement:
1. Housing — This could make up nearly half of expenses, according to the Consumer Price Index for the elderly from the Bureau of Labor Statistics, Nancy L. Anderson reports in Forbes. Paying off mortgages near or at retirement could take away a huge part of expenses in retirement.
2. Food — Many retirees don’t realize how much they are spending on dining out and buying groceries until they actually track the money they spend. They can look for ways to cut expenses by cooking and eating more often at home.
3. Transportation — Theses costs might be cut during retirement because people are no longer commuting, but it depends on each person and how much traveling they need to do. With gas prices unpredictable, retirees, especially those planning on travel for enjoyment, can invest in energy-efficient vehicles.
4. Health care — People may qualify for Medicare after age 65, but they still need to consider out-of-pocket medical expenses or premiums established for Medicare Part B. Planning ahead with a Health Savings Account if possible can help.
5. Pensions and Social Security — It may seem like a blessing to start receiving money from retirement funds. However, in retirement, people often begin chipping away at their savings and are no longer making contributions. It may require taking a good look at your budget to stretch savings, according to Clark.com.
6. Entertainment and hobbies — During retirement, many people may want to enjoy vacationing to far-off places, golfing, upgrading the home, or getting involved with other hobbies such as collecting items and antiques. The time off could cause spending on hobbies and recreation to get out of hand, Bankrate notes. Overspending often occurs during the first year or two of retirement.
7. Family care — Issues might arise for retirees, including taking in an adult child for a time because of financial trouble or other difficulties. Some retirees may even have to care for aging parents or in-laws because of age longevity rates in today’s world. These are factors some retirees might take into consideration

Review the BBQ tips offered in this weeks’ updates – FEEL FREE TO SHARE THESE TIPS!

Summer seemed a long time coming and I know you’re going to cook outdoors, your guests will probably want to join you. Therefore, you’ll want to consider some of these outdoor entertaining ideas!
Sure, you can do the standard burgers and dogs, but you may enjoy some of these surprising recipes for the grill. It’s amazing how a grill or smoker can change the taste of food items that you’ve been cooking indoors for years.  Just make sure you clean your grill first…we replaced parts of our grill [found what we needed at Meijer’s] and filled our LP tanks [we keep several on hand as there is nothing worse than running out during the middle of a cookout].
Thanks to Perfectus Elder for sharing this bit of humor…
Why you need a home inventory
    I don’t plan to grow old gracefully. I plan to have face-lifts until my ears meet. Rita Rudner






Resource Roundup – Share with your friends!





Millionaires are easier to find today. Inflation and the erosion of the dollar’s value — continuously, over the course of multiple decades — has put the goal of acquiring a million dollars within reach for more Americans. Of course, the club is no longer the exclusive party it once was. 


5 steps to retire debt-free (CNN Money): “America is a nation of borrowers, and while racking up debt can be dangerous at any age, it’s especially hazardous for those heading into retirement.”






4 Types of Investments to Avoid (Kiplinger): “This column, like most articles about investing, usually tells you where to put your money—which stocks, bonds, sectors or asset classes are likely to yield superior returns in the future. What the pundits typically ignore is where not to put your money. Which investments should you shun? But I take up the challenge and identify four categories that you should avoid.”






Do I Need a Will?
Sooner or later we’ll all need to know the answer!










They come to you for help. Just like when they were small. You don’t want to say ‘no,’ but you should consider these factors before you write that check. Read more.












Maybe you’re downsizing. Maybe you’re just cleaning out some things. Here’s how to decide what to ask for the things you want to sell. Read more.




[Call us to sell your goods or if you have an entire estate to sell, call our friends at Rowley Auctions]




Here are the five states in which it’s most expensive to insure a motor vehicle (numbers are based on average policy costs across all states):




1.    Michigan – I was not surprised to find this state at the top of the list, with residents shelling out an average of $2,551 in premiums each year – DESPITE the governor writing me to say he was going to cut the medical premium down by $125 per year beginning two years ago…we’re still waiting!


2.    West Virginia – In the Mountain State, an annual premium of $2,518 is typical.


3.    Georgia – Hold on to your peaches! If you live in Georgia, you should expect to spend around $2,201 each year.


4.    Washington, D.C. – Our nation’s capital has been a steady presence in the top 5 of these “most expensive to insure” lists over the years, and it doesn’t look to be changing anytime soon. If you’re driving past Pennsylvania Avenue, expect to pay an average of $2,127 annually.


5.    Rhode Island – Residents of the smallest state pay, on average, $2,020 each year.