Financial Alternatives to Keeping Your Home Upon Retirement

Holding on to a home because of emotional ties may not be the right decision for you.

retired-couple-beachHomeowners need to invest a significant amount of time and money to ensure that a home is kept in god condition. Now, this is vital for a variety of reasons – the most important being to retain or perhaps increase the value. As your home begins to age, it is likely that it will require more maintenance, which includes everything from roof fixtures, to pipe replacements. These costs could make owning and holding on to a property worth a second thought.

Downsize To a Condominium

One option that many homeowners go with is to downsize to a smaller house. This means that there will be less maintenance due to the smaller size. A condominium can essentially be an attractive option when you want to remain a homeowner, while at the same time limiting your maintenance responsibilities.

So, you can take care of your unit, but the condo association will be taking care of the rest of the repairs. This means that you’ll be paying less out of your pocket when it’s all said and done. It’s a cost effective and low risk investment that could suit your financial and personal needs better.

Renting

You can also go with renting a property as well. While many people may still have varying opinions on renting, because of the fact that it seems like you are throwing away your money rather than putting it back into the house, it also makes sense financially. However, one thing that you should keep in mind is that rent costs can typically go up, which is something that you have to deal with when living on someone else’s property.


Kuba Jewgieniew is the CEO of Realty ONE Group, a real estate brokerage firm with offices in three states and over 5,000 associates.

U.S. 10-year yield on for biggest monthly rise in over a year

The growing prospects of a rate hike, perhaps next month, lifted the dollar against many major currencies, pushing it up to a one-month high against the Japanese yen. Japan's Nikkei 225 bucked the trend, however, its 1 percent rally driven by the yen's fall to a one-month low. U.S. futures pointed to a slight decline at the open on Wall Street and Europe's main bourses hovered close to flat in early trading.

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U.S. 10-year yield on for biggest monthly rise in over a year

Fed’s Evans, citing slow growth, says low U.S. rates are here to stay

Chicago Federal Reserve Bank President Charles Evans on Wednesday said he is increasingly convinced that U.S. economic growth has slowed permanently, a situation that will keep U.S. interest rates low for a long time ahead. Embracing Harvard Professor Larry Summers' so-called secular stagnation theory, Evans argued that an aging U.S. population and slowing productivity growth mean there is little reason for interest rates to rise either fast or far. Expectations of low growth have become so embedded in corporate and investing behavior, he said, that even if inflation rises unexpectedly and the Fed has to raise rates faster than it now anticipates, a detrimental spike in long-term interest rates is unlikely.

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Fed’s Evans, citing slow growth, says low U.S. rates are here to stay

VW could agree U.S. large-car diesel emissions settlement by October – Audi exec

Volkswagen AG could reach a “final” settlement with U.S. authorities as early as October over its large-engine diesel cars found to have cheated emissions tests in a global scandal, the sales chief of its premium Audi brand said. Dietmar Voggenreiter, head of sales and marketing worldwide for Audi , told Reuters in an interview in Hong Kong on Wednesday that negotiations related to 3.0-litre engine VW and Audi cars were progressing well. “(We're) in really good discussions with U.S. authorities,” said Voggenreiter.

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VW could agree U.S. large-car diesel emissions settlement by October – Audi exec

Oil dips on stronger dollar; rise in U.S. crude stocks data

Crude oil futures dipped on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories. International Brent crude oil futures were trading at $48.32 per barrel at 0608 GMT (0208 ET), down 5 cents from their previous close. U.S. West Texas Intermediate (WTI) crude futures were down 7 cents at $46.28 a barrel.

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Oil dips on stronger dollar; rise in U.S. crude stocks data

Exclusive: SWIFT discloses more cyber thefts, pressures banks on security

SWIFT, the global financial messaging system, on Tuesday disclosed new hacking attacks on its member banks as it pressured them to comply with security procedures instituted after February's high-profile $81 million heist at Bangladesh Bank. In a private letter to clients, SWIFT said that new cyber-theft attempts – some of them successful – have surfaced since June, when it last updated customers on a string of attacks discovered after the attack on the Bangladesh central bank. “The threat is persistent, adaptive and sophisticated – and it is here to stay.” The disclosure suggests that cyber thieves may have ramped up their efforts following the Bangladesh Bank heist, and that they specifically targeted banks with lax security procedures for SWIFT-enabled transfers.

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Exclusive: SWIFT discloses more cyber thefts, pressures banks on security

EU ruling on Apple stirs calls for U.S. tax reform

By David Morgan and Jason Lange WASHINGTON (Reuters) – A European Commission order requiring Apple Inc to pay Ireland $13 billion euros ($14.5 billion) in unpaid taxes on Tuesday drew swift rebukes from the Obama administration and lawmakers in Congress, while reigniting calls for U.S. tax reform. The White House and the Treasury Department, which enforces federal tax policy, warned that U.S.-EU economic relations could be affected by the European Commission's ruling that Apple had received illegal state aid under its agreement with Ireland. The Business Roundtable, which represents U.S. chief executives, called the decision “an act of aggression” against a law-abiding U.S. company and a sovereign government.

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EU ruling on Apple stirs calls for U.S. tax reform

SEC awards $22 million to ex-Monsanto executive through whistleblower program

The award of $22,437,800 was tied to an $80 million settlement between the SEC and Monsanto in February, according to the lawyer, Stuart Meissner in New York, in a statement. Meissner declined to reveal the whistleblower's identity.

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SEC awards $22 million to ex-Monsanto executive through whistleblower program

Oreo cookie maker Mondelez abandons bid for Hershey

Shares of Mondelez, the maker of Oreo cookies and Cadbury chocolates, rose nearly 4 percent in extended trading on Monday, while Hershey's shares plunged about 12 percent. In July, Hershey rejected a $23 billion cash-and-stock offer by Mondelez. “Following additional discussions, and taking into account recent shareholder developments at Hershey, we determined that there is no actionable path forward toward an agreement,” Mondelez Chief Executive Irene Rosenfeld said on Monday.

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Oreo cookie maker Mondelez abandons bid for Hershey

Wall St. gains as data points to budding economy

Financial and commodity-sector stocks led the S&P 500 higher in a low-volume session on Monday after consumer spending rose for a fourth straight month, pointing to a pick-up in U.S. economic growth. After Fed Chair Janet Yellen said the case for a rate hike before the end of the year was strengthening, Vice Chair Stanley Fischer seemed to indicate not only the possibility of a tightening move in September but a second one in December. “Utilities are up on a bounce,” said Art Hogan, chief market strategist at Wunderlich Securities in New York.

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Wall St. gains as data points to budding economy