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Better Money Decisions| Financial Planning | Financial Advice | Money Management | Investment Advice

You’ve probably started with great intentions, telling yourself you’ll stash away more for retirement and buy fewer lattes (because some writer said buying lattes is a bad thing). But life happens. It’s not as neat and tidy as the financial experts on TV seem to think. You’ve got a lot going on in your life, and you need more than simplistic, cookie-cutter instructions to keep you on the right financial path. Kate Stalter escorts you to the right path for your money. She talks to experts and "normal" people who have taken the right steps to make better money decisions.
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Better Money Decisions| Financial Planning | Financial Advice | Money Management | Investment Advice
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Jul 6, 2017

Today's guest is Aaron Hendon, a Real Estate Agent from sunny Seattle, in Washington. Kate was really intrigued to talk to Aaron because he has such a good take on the mistakes that people tend to make and also some of the pitfalls when buying Real Estate. Aaron also assists Boomers and their aging parents to navigate some of those difficult Real Estate transitions- and this really is a big thing! Listen in to find out more about Aaron's holistic and rather contrarian approach to making this kind of investment.

 

Kate points out that people tend to think that once they're retired and no longer have a mortgage, they are free of housing costs. Yet, Kate and her colleagues have been finding more and more in their Financial Advisory Practice, that people, before having met them, purchased homes that were probably not great financial decisions. They often still have to pay really high mortgage costs, when nearing retirement age, which makes things difficult and can sometimes even mean that they could have to delay their retirement. They also sometimes see people, who are in their sixties, building their dream homes and that's often a tough thing to afford. Kate even has an eighty-year-old, who still has a mortgage - and there are more people out there, in similar situations. Listen in now, as Aaron shares some really great advice, to help people who are finding themselves in situations like these. 

 

Show Highlights:

 

  • Having a mortgage is potentially going to become a risky thing as retirees get even older still.
  • There are investments that give much higher returns than Real Estate.
  • The transactional costs alone, if you're not going to be in a house for five years, can keep you from getting a decent return on it.
  • That each individual has their unique situation to consider.
  • That what's best for you now, may not be best for you in ten year's time.
  • Some factors to consider when thinking of buying a house.
  • Sometimes, renting a house could be your best choice.
  • How Aaron, as a Realtor came to his contrarian viewpoint.
  • Aaron's book called Real Estate Blind Spots, that he's busy working on at the moment. It's about doing due diligence- to help you to make a rational choice when it comes to choosing a Realtor.
  • Aaron's pamphlet, with the seven questions that you should ask a Realtor, before employing them.
  • Realtors have to study for only ninety hours to qualify for licensing - and your house is the single most expensive thing that you own!
  • Buying a house is a deeply emotional experience.

Links:

Aaron's website- where you can download his book, get onto his mailing list, or contact him: www.dontgetfooledagainbook.com Anyone on the mailing list will automatically get a copy of Aaron's new book, Real Estate Blind Spots.

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