How Retirees Can Battle Low Home Values
For Mark Roberts’ Use: The recent housing crisis has had a detrimental effect on the plans of many retirees. Whether you were counting on a big profit from the sale of your home, or really need to unload it before you can move to the retirement location of your dreams, low values and sluggish sales have probably impeded your plans.
If you’re trying to sell your home, or anticipate selling it in the next couple of years, you might be wondering which upgrades could add value and help attract buyers. Remodeling Magazine released a Cost vs Value Report last year which sheds some light on the types of renovations that are found most valuable by potential owners.
Upgrades which improve a home’s curb appeal carry a big potential for a high return on your investment. New landscaping, outdoor lighting, or even something as simple as a nice mailbox or attractive front door might help. Other exterior projects such as vinyl siding updates, the addition of a deck, new windows, or a new garage door are also good ideas. When it comes to interior projects, such as kitchen upgrades, you might be surprised to know that you’re better off spending your money on minor cosmetic renovations that major overhauls. Focus on new paint, fixtures, or counter tops.
Housing prices are still on the rise, so it might be better to wait a few more years before selling your home. You’re likely to reap a better profit by waiting for home values to rebound a bit more. Having said that, retirees who really need to sell their homes now can benefit from smart upgrades which will help their homes compete on the market, the advice of a seasoned real estate agent, and some strategic financial planning. Talk to you financial advisor if sagging home values have impacted your retirement plans, and formulate a new plan which doesn’t depend so heavily on the value of your home.
Source: Remodeling Magazine, 2013
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In addition to managing clients’ money and giving investment and diversification advice, Mark offers something that “the other guys” don’t - a unique approach to Retirement Tax Strategies and distribution. Time and time again, Mark meets with new clients who tell him they have a great relationship with their financial advisor but have never been offered information on this kind of approach to securing their financial futures. Mark has taken this feedback to heart and works tirelessly to ensure that his strategies focus on taxes and distribution.
Mark started selling insurance for a major insurance company right out of high school to help put himself through college. After graduating with a degree in finance, he dove into estate planning on the financial side to set himself apart from other financial advisors. However, as changes were made to estate tax laws over time, Mark shifted his focus to income tax strategies.
Mark’s philosophy is “the blue prints are more important than the wall paper or carpet.” The wall paper and carpet represent products like investments and insurance policies, whereas the blue prints represent the strategies. Once strategies that truly fit the client’s needs are put in place, our focus can shift to providing you with the right products. According to Mark, “It doesn’t matter what carpet we use if the walls are not in the right place.”
Our approach to money management is designed to generate the largest alpha (quality) with the lowest standard deviation and beta (risk). By doing this, we help provide clients with the highest return on the lowest risk. Generating income for our retirees is also very important. Because withdrawing money from your portfolio hurts the account rather than helping it, our goal is to design income strategies to harm the portfolio the least making the money last longer.