{"id":55,"date":"2021-08-18T16:39:19","date_gmt":"2021-08-18T16:39:19","guid":{"rendered":"https:\/\/bwfinancialplanning.com\/2021\/08\/18\/pd5iaeg6vecdbwgst93d4hf76vz9io\/"},"modified":"2023-02-18T00:32:42","modified_gmt":"2023-02-18T00:32:42","slug":"what-ive-been-reading-16","status":"publish","type":"post","link":"https:\/\/bwfinancialplanning.com\/?p=55","title":{"rendered":"Do You Talk With Your Partner About Money?"},"content":{"rendered":"

Here\u2019s what I\u2019ve been reading this past week or so.<\/p>\n

Couples Are Happier When They Talk About Money<\/strong><\/a><\/h3>\n

Some uncomfortable facts:\u00a074% of women die single,<\/a>\u00a0and\u00a090% of women will manage their own money in their lifetime<\/a>, whether they want to or not. Many married or partnered women don\u2019t 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.<\/p>\n

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.\u00a0A study by UBS Research found that women deferring long-term financial decisions to their spouses put their own financial security at risk<\/a>. You don\u2019t have to start doing your family\u2019s taxes tomorrow, but consider taking baby steps to learn more about your family\u2019s financial plans like finding out where your investment accounts are held or how they are invested.<\/p>\n

These Home Renovations Will Give You The Greatest Returns<\/strong><\/a><\/h3>\n

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\u2019ve tumbled into the deep end of <\/span>houzz<\/a>\u00a0and\u00a0<\/span>pinterest<\/a> – going blind with the different variations of whites and feeling overwhelmed by the obscene amount of choices in tiles, I\u2019ve also been curious if all of this brain and wallet pain will amount to any financial upside.<\/span><\/p>\n

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.<\/span><\/p>\n

Even though we aren\u2019t 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\u2019s cost basis to offset potential capital gain taxes. We\u2019ll talk about how and why you should do the same in next week\u2019s post.<\/span><\/p>\n

The Surging Home Prices Are Now Bigger Than The Peak of the 2000\u2019s. What Gives?<\/strong><\/a><\/h3>\n

We can theorize that the reason so many people are renovating is that it\u2019s too darn expensive to buy another house and move! <\/span>NPR\u2019s Planet Money\u00a0<\/a>always does a great job walking through economy-related topics. In this article, they discuss whether the\u00a0<\/span>current price surge in home prices<\/a>\u00a0is a bubble or not.<\/span><\/p>\n

Wealth Is Health<\/strong><\/a><\/h3>\n

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.<\/p>\n

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 <\/em>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\u2019s exactly how the books described it! ?<\/p>\n

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