Retirement Preparation

Posted on January 21, 2018 by blogeditor

Retirement preparation seems to be the ultimate goal for the average hard-working American citizen. And who can blame them? Being able to have your dream life after you retire is well-deserved and attainable. However, you may need more money than you think you will need in order to fulfill that dream. Also, if you are looking for a horse property for sale in Colorado, contact Colorado Horse Property today and speak with one of our horse-person realtors.

You may have half a million dollars in liquid assets, all your bills paid up, a small mortgage on your home, you may even own your car outright and have the perfect credit score. Even with only ten-fifteen years away from retirement that might not be enough to have everything you want when you retire. So how can you have the perfect retirement?

Saving and Retirement Preparation

Saving is the key! To retire with $125,000 in the current economy you’ll need to have a net worth of $1.5 million at retirement including the money you will get from Social Security—and that’s only if you expect to live twenty-fire years after retirement. With the medical field being what it is today, and advancing all the time, you should expect to live even longer. Your $500,000 will grow to $1,045,420 in 15 years which will leave you about a half million short. You’ll need to save $24,149 each year for the next 15 years to reach your goal.

You should do some research when it comes to preparing for retirement. If you are looking into things without the help of a professional, try using a retirement calculator. Though these types of retirement preparation calculators are helpful, they do not compare to getting advise from an expert. You should try talking to the management at your local banking facility for help in finding a professional to guide you on your journey.

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Defining Homeowners Insurance

Posted on January 18, 2018 by blogeditor

Homeowners insurance is always the topic of conversation when you are planning on a location to buy your first home. But what exactly is homeowners insurance? Insurance is the act of transferring risk of loss of your home or property to a company. Instead you pay a premium and, depending on the deal you strike, the company takes care of damages when it comes to that loss we just talked about. Also, if you are looking for a horse property for sale in Colorado, contact Colorado Horse Property today and speak with one of our horse-person realtors.

A deductible is the amount you pay out of pocket before the insurance begins. Deductibles can be a specific dollar amount or a percentage of the policy total. So what is all the hype about homeowner’s insurance? What a homeowner’s job is when it comes to insuring their home is finding a balance between risk of loss. Also, how much of a premium and deductible can they afford?

What Is Homeowners Insurance?

One way that insurance companies try to manage their premiums is by adjusting the cost of your deductible. So the homeowner has to decide if they would rather have a lower deductible, resulting in less money out of pocket if they incur a loss. Otherwise, a higher deductible will lower premiums but require that the homeowner pay a larger amount upfront. Confused?

Here’s an example: let’s pretend that a small kitchen grease fire has caused around five thousand dollars worth of damage in a three hundred thousand dollar home. If your home insurance policy specifies a two percent deductible then the five thousand would not be covered. As a homeowner, you should always review deductibles. You can do this with your property insurance agent. You want to be familiar with the amounts and so that you won’t be surprised if something happens to your home.

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ATM Safety Tips

Posted on January 18, 2018 by blogeditor

ATM safety is important for everyone. Using the ATM is almost a weekly thing for a lot of us. Especially during the holidays, you need some cash for those last minute gift purchases. Nowadays you can find an ATM almost anywhere you spend cash. This includes the mall, gas stations, sports venues, grocery stores, and even outside of your bank. Therefore, you don’t have to go inside and deal with a teller just to make a small withdrawal.

This makes accessing your funds easy, however it is also easy to have your personal information compromised. No one wants to have their information and money stolen just because they were distracted for a moment at the ATM. The following are a few tips that can help you keep your accounts safe from theft. Looking for a First Bank ATM in Colorado? Try these ATM locations.

ATM Safety Tips

Be Prepared
Having your card out and ready and knowing what you plan to do at the ATM can reduce the time spent in front of the machine and therefore the window that thieves have to steal your information. Remember, if you are making a withdrawal you can always count your money when you are safely back in your car.
Shield the Keypad
You are probably not the only one needing to get money out of the machine, but any of those people that are in the queue behind you could be a thief in disguise. Always shield the keypad when entering your PIN. This is the first line of defense against your account being compromised, so don’t share it with anyone or even write it down.
Drive-Up ATMS
If you are using an ATM from the safety of your car, you could still be at risk. Be alert and aware of your surroundings during the entirety of the transaction. Keep your car doors locked and the other windows in your car raised. Don’t accept help from strangers.
Walk-Up ATMs
If you aren’t in your car, make sure to choose a machine in a safe place—if it is night, then make sure the location has adequate lighting. Some thieves out there are technologically inclined and use skimming devices to steal your information so if someone looks suspicious then find another machine.
Post-Withdrawal
Don’t put your guard down just because you are done taking your funds from the ATM. Stay aware if you are on the street; someone could be following you. If you think that you are being tailed, then stay drop into a busy store with lots of people and call the police immediately.

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False Alarms and 5 Tips to Minimize Them

Posted on January 18, 2018 by blogeditor

False alarms aside, having a home security system is a no-brainer if you own a home. Security systems not only increase security, but they also provide a piece of mind. They can also lower insurance premiums. Also, if you are looking for a horse property for sale in Colorado, contact Colorado Horse Property today and speak with one of our horse-person realtors.

It is very important to keep your family safe in these uncertain times. Did you know that many police departments report high percentages of calls being false alarms due to home security systems. Sometimes that percentage can be as high as 98%! Besides wasting the police’s time, false alarms could upset your neighbors, which is bad news for those with strict home owners associations. Here are five great tips to minimize false alarms at your home.

False Alarms Tips

Pet Detectors
Pets are part of the family, just like children, but they are often responsible for falsely setting off your home security system. There are alarm systems now that are more pet-friendly and gives homeowners an alternative to turning them off.
Visitors
If you are planning on having guests over, especially those staying overnight, you should tell them about your home alarm system. If your guest knows when the alarm is armed then they can avoid triggering it. This is also great advice for those of you with house-keepers or babysitters. Considering giving those that you trust the code to disarm the alarm to avoid triggering a false alarm.
Securing Exits
An easy way to ensure that you will not accidentally set off your home alarm is to be sure that all windows and doors are secured before arming the system.
Backup Power
Another great tip is to be aware of how often you should replace the batteries in your alarm system. Most modern home security systems have a backup battery in care your power goes out, so if you have an older model maybe it’s time to replace it.
Don’t Forget Your Code
It is easy to forget the code to your home security system and entering the wrong numbers into the keypad can trigger a false alarm. You don’t want the police showing up with you holding an armful of groceries because you couldn’t remember your code. Try setting your code to something that is easy to remember but that is also not obvious. Let family members know if you change the code.

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Vacation Money

Posted on January 18, 2018 by blogeditor

Vacation money can be hard to come by. During the Masters from April the 2nd through the 9th, hotels are often overbooked and you might find that private homes are higher in demand. If you are a homeowner during this time and have been planning to take a vacation, then maybe you should consider renting out your home to a guest and their family and make some vacation money for yourself.

Odds are your home is a thousand times better than any motel and you can charge a hefty fee for renting it out since the demand is higher with little to no competition. Need more convincing? Here’s a big push to get you off your feet and on that dream vacation: you may qualify for a tax-free income on the temporary tenant in your home while you are away.

Need Some Extra Vacation Money?

That’s right, there is a little known provision in the tax code that does not require taxpayers to recognize money that they receive from renting out their home for less than fifteen days per year. Of course not everyone has a home near where the masters takes place, but you might be surprised what other great locations temporary renters are looking for. Do you life near other large sporting events?

This may include golf or tennis tournaments, championship games of any kind, or other high attendance venues. With that said, this idea isn’t for everyone. Giving strangers access to your personal belongings does bring its own set of challenges. If you are considering this idea, then you should probably discuss it with your tax professional prior to making a definite decision. I know it’s hard to believe that you can make money while you are on vacation, but it’s true. Check out this page at the IRS for more information on how you can make a little extra money while on vacation.

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