Here’s what I’ve been reading this past week or so.
Some uncomfortable facts: 74% of women die single, and 90% of women will manage their own money in their lifetime, whether they want to or not. Many married or partnered women don’t realize that the statistics overwhelmingly say that someday YOU – yes, YOU! – will be in charge of your own personal finances. This includes your investments, taxes, and legacy planning.
We as women tend to take full ownership of day-to-day finances, but have a very minimal role in long-term planning or investing. A study by UBS Research found that women deferring long-term financial decisions to their spouses put their own financial security at risk. You don’t have to start doing your family’s taxes tomorrow, but consider taking baby steps to learn more about your family’s financial plans like finding out where your investment accounts are held or how they are invested.
After 12 years, we have finally decided to renovate our house. From all of the construction activity in our neighborhood, we aren’t alone. Maybe you are noticing the same trend in your neighborhoods. Our renovation goal is to use the space better for how our family lives, not necessarily for resale purposes. But as I’ve tumbled into the deep end of houzz and pinterest – going blind with the different variations of whites and feeling overwhelmed by the obscene amount of choices in tiles, I’ve also been curious if all of this brain and wallet pain will amount to any financial upside.
According to this article, replacing your garage door gives you the biggest bang for your buck. A whopping 94% return on your investment. The updates to our kitchen, not so much. Bummer.
Even though we aren’t necessarily expecting a high return on investment with our renovations, we are keeping track of the dollars spent on any improvements to our home. Why? To increase our home’s cost basis to offset potential capital gain taxes. We’ll talk about how and why you should do the same in next week’s post.
We can theorize that the reason so many people are renovating is that it’s too darn expensive to buy another house and move! NPR’s Planet Money always does a great job walking through economy-related topics. In this article, they discuss whether the current price surge in home prices is a bubble or not.
Five of the healthiest communities in the nation in 2021 are also ranked in the top 10 for wealth. The article caught my eye because Telluride, one of my favorite spots in Colorado, in San Miguel County is on the list.
I have never been super outdoorsy. Growing up in the Midwest, being outdoors in nature meant either being sticky with humidity while unrelenting mosquitos attacked you or freezing your butt off in below-zero wind chill while your nose hairs became mini icicles. Neither was very appealing to me. Hence, reading books and watching tv in climate-controlled environments were my preferred ways to spend time. As I traveled more, I found that spending time outdoors could actually be very pleasant and enjoyable. And, sometimes, when surrounded by stunning natural beauty, there are even moments that feel downright magical! Amazing, it’s exactly how the books described it! 😆
After moving to Colorado in 2009 and visiting parts of the Rocky Mountains, I kept waiting for that gut-punch of breathtaking inspiration. But I didn’t get the magical feels until we took a family trip to Telluride in 2018. Telluride is definitely not a town for the financially down and out. Maybe money can buy happiness? 🤷🏻♀️
Where do you visit to get the magical feels of nature? Do you agree with the article that “wealth is health”?
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