5 Things to Check Before Retiring to the Suburbs in 2022

Things to Check Before Retiring to the Suburbs in 2022

If you are nearing retirement age and dream of a quiet life away from the city, here are a few things to check before retiring to the suburbs in 2022.

5 Things To Check Before Retiring to the Suburbs in 2022

1. Your Budget

Financial Plan

The first thing you need to check before retiring to the suburbs in 2022 is your financial plan. Have you reached your long-term goals? Have you accounted for inflation and market fluctuations? Are your assets protected? You want to make sure you are ready to stop working before you jump into retirement.

This means you’ll have to be realistic about what you can afford. You should also pay off all your debts before you retire so you don’t deplete your savings. And, you need to make sure that you will have enough income to cover your living and medical expenses. If you aren’t sure if you are ready to fully retire, discuss it with your financial planner.

Cost of Living

Since you will be living on a fixed income, you want to maintain a low cost of living. If the home you are currently in is too much of a financial burden, it may be time to downsize. Moving to a smaller home can drastically reduce your monthly expenses. However, you may also consider relocating. Retiring to the suburbs around San Francisco, New York, or Honolulu is going to require a much larger nest egg than places like Fort Wayne, IN, or Toledo, OH.

Taxes

Although federal taxes are an unavoidable fact of life, not every state collects taxes from its retired population. In fact, seven states don’t levy any taxes on personal income (Alaska, Florida, Nevada, South Dakota, Texas, Washington, Wyoming). For those looking for the cheapest places to live, compare which states and counties have the lowest property taxes. This will give you a good indication of the general cost of living in the area.

2. Health Plan

Health Care

Maintaining your physical health is a major concern as people get older. The hard truth is that medical expenses will constitute a large part of your retirement budget. Couples retiring can expect to pay approximately $387,000 in health care costs.

Furthermore, those with chronic conditions may need to see specialists or require access to the latest medical technologies. So, you’ll need to be close to a hospital that has cutting-edge facilities if you require frequent trips to the doctor. The trade-off for these conveniences is living in more expensive urban areas. If you have a serious medical condition, this should be a consideration before moving to the suburbs in 2022.

Safety

Another health concern many people overlook is personal safety. Living on a fixed income means that cost is a primary concern. But, you shouldn’t sacrifice your safety to save money. Unfortunately, cheaper housing is usually located in more dangerous neighborhoods which could affect your well-being. Therefore, you should eliminate low-cost neighborhoods that have high crime rates. You can learn more about local crime rates from your police department or by searching crime maps of the area.

3. Proximity

Transportation

One significant disadvantage of retiring to the suburbs in 2022 is the distance and drive time it takes to get places. However, if you are perfectly happy to get out of the city, you may not need a car for daily commutes. Many suburban areas are gaining greater access to stores, restaurants, parks, and other amenities. Not only does this offer more convenience, but it also means less driving.

It encourages you to walk more which is a great way to stay active, fit, and get the most out of your neighborhood. However, you should consider proximity to public transportation if want to sell your car and plan to stay there through your retirement years. Even if you keep your car, you may lose the ability to drive someday. But, being close to public transit will allow you to stay mobile. For those moving further away from their family, it’s a good idea to look for places near the local airport.

Proximity to Family

Do you want to spend more time with your family after you retire? Or, do you want to head for the hills in search of a more peaceful life? Familial connections can be crucial as we get older. But, dysfunctional families can also create more stress. Whether you want to be nearby or as far away as possible, proximity to your family is another consideration when you retire.

4. Lifestyle

Culture

The kind of lifestyle you lead is also an important consideration. Think about what kind of social life you want to have and how you will spend your free time. Are you ready to move away from the bustling city center for the quiet life of the suburbs? Do you plan to participate and socialize at local senior centers with classes, game nights, or other events? On the other hand, if you want to take in the culture of your city, you should look for neighborhoods closer to museums, galleries, theaters, and other attractions.

Climate

While cost and location are both important factors, you shouldn’t forget about the climate. Most retirees want to live somewhere where they will be comfortable year-round. For some seniors, this means they are willing to leave places with extreme temperatures to pass their golden years in more comfort. If you are relocating, you will also want to avoid places that are prone to natural disasters.

Getting Back to Nature

If you are an outdoor enthusiast, you’ll want to find somewhere that provides easy access. Many suburbs offer great hiking and biking trails or proximity to beaches, lakes, and mountains. Moving somewhere that allows you to easily enjoy your outdoor hobbies promotes strong physical and mental health as you get older.

Rules and Regulations

Although living in a community provides many benefits and services, homeowner associations and city ordinances can create huge headaches. First, there are the fees to account for. Then, there are the local laws and regulations you must comply with. Some cities and neighborhoods have strict ordinances that require extensive paperwork for any construction projects. Make sure you understand the bylaws of where you want to live. Being at odds with the local governing body could turn your suburban paradise into a nightmare.

5. Personal Happiness

Ultimately, the most important thing to keep in mind before retiring to the suburbs in 2022 is your personal happiness. Think about what is most important to you and where you will be the most content spending your final years.

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5 Reasons Why You Should Invest in Leisure

 

Why You Should Invest in Leisure

Along with making resolutions, many investors also look for emerging opportunities in the new year. However, one industry that has grabbed people’s attention is leisure and recreation services. Not only have businesses in this sector shown significant increases, but there are diverse investment options since it includes a wide array of interests such as sports, media, art, travel, etc. Although it’s had a history of rises and falls, the current trend has shown continual growth. Demand for new types of leisure and entertainment has grown during the pandemic, leading to new innovations, technology, and business models. And, it is attracting a lot of attention from important investors due to the ample business opportunities. If you have an innovative idea or have a business you would like to invest in, here are 5 reasons why you should invest in leisure.

What Does Leisure Include

The broad definition of “leisure” applies to any activity done when not working. When it comes to investing, the leisure industry is the market sector that focuses on entertainment, recreation, tourism, and sports. As you can probably guess, there are multitudes of businesses that fall under this category. And, there are more popping up every day as technology advances and the sector continues to evolve.

But, how does what you do in your free time apply to investing? All you have to do is look around your community. There are leisure and entertainment venues everywhere. Traditional leisure venues include retail stores, restaurants, bars, health clubs, sports complexes, movie theaters, amusement parks, casinos, and concert halls, just to name a few.

For conservative types, there are well-established stocks in airlines, hotels, and theme parks that have a strong performance history. However, there are also several gaming companies, streaming services, and social media platforms that also promise good returns on your investment. And, there are new entertainment options introduced to the market every day. Thanks to the internet and trading apps, the market is even more accessible to investors.

Reasons Why You Should Invest in Leisure

When choosing a sector, you’re probably asking yourself which ones are projected to see the most gains. There are endless strategies and theories out there. However, here are 5 tangible reasons why you should invest in leisure.

1. The Leisure and Recreational Services Industry currently ranks in the top 27% of all industries.

 

As any sound financial advisor will tell you, do your due diligence. You should always evaluate past and current market performance before you buy into any stock. Luckily for those who are short on time, online resources like Zacks compile and compare the most recent data for you.

According to their analysis, stocks in this sector are expected to outperform the market in the next 3-6 months. They also provide a convenient list of their top-ranked stocks. Resources like this make it easier to come to a decision, especially when picking individual stocks. It also shows which markets currently attract the most consumers for those interested in new ventures.

2. Analysts expect leisure stocks to see a significant rebound.

 

With the outbreak of Covid-19 and the ensuing pandemic, the entire stock market has taken a dive. Undoubtedly, the leisure travel industry was one of the hardest hit. As businesses closed and social distancing measures were enforced, stock prices continued to plummet. But, there is hope on the horizon as businesses re-open and adapt to the new normal. Although the spread of the latest variant threatens to cause another sharp decline, analysts expect leisure spending to double by 2030.

People have become restless being cooped up, and are looking for entertainment outlets. While we have been sitting at home, many of us have also managed to build our savings. The Bureau of Economics reported that the average personal savings hit a record high of 33.7% back in April 2020. Then, March 2021 showed an additional increase of 27.7%. This bodes well for the leisure and recreational services industry.

3. The world’s population is getting richer.

 

As Engel’s Law indicates, when a person’s income increases, they spend less on basic necessities and more money on other goods. Despite recent economic hardships, the world’s population has never been wealthier. Of course, there are large variations between different countries and individual households. But, people today have more expendable wealth than ever before.

The most difficult question to answer is how people are going to spend their discretionary funds. However, there will always be the human need for recreation and entertainment. Therefore, it isn’t unreasonable to assume that the more people earn, the more likely they are to spend their extra money on leisure.

4. The industry offers diverse investment options.

 

When you look at the entertainment industry, it includes a wide range of businesses and services. This diversity is one of the most attractive features of this sector. Not only does it encompass all the businesses who provide services, but also those which cater to the needs of the customers spending money on entertainment and recreation services. New businesses that can meet these needs the fastest and most efficiently will see the most success.

With the myriad of investment options, leisure-focused ETFs are a great way to help your portfolio gain exposure to this market. These ETFs offer baskets of leisure stocks, mitigating the risks of choosing individual stocks. Meanwhile, you also get a random sampling and can gauge which companies have the potential to yield a higher return.

5. Leisure businesses have been quicker to adapt.

 

Since fewer people are frequenting public places, leisure businesses have to adapt quickly in order to survive. Therefore, they had to fully embrace technological advances to keep up with people’s changing lifestyles. However, it has also set them as some of the most dynamic and innovative companies in the market. Their flexibility to meet the demands of all consumer groups and provide more mediums to connect with them provides a huge advantage and promising investment opportunities.

Trending Businesses Opportunities to Invest in Leisure

. Whether you are seeking to invest or start your own business, there are new niches being carved out. These areas have attracted focused attention:

  • Play Zones
  • Art Galleries
  • Advertising Agency
  • Sports Shop
  • Online Retail
  • Streaming Services
  • Media
  • Digital Marketing
  • Resorts and Hotels
  • Golf Courses
  • Multimedia Companies like Disney
  • Leisure-focused ETFs

The market is ripe with potential. However, the rising tide won’t lift all boats equally. Before making any major financial decisions, you should always consult with your financial advisor. But if you are looking for new opportunities, you should consider to invest in leisure.

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Save Money by Renting Goats for Weed Control

Save Money by Renting Goats for Weed Control

If your property has become overgrown by brush and invasive plant species are taking over, perhaps it’s time to consider goats. Yes…that’s right, goats. These hearty animals will eat a wide variety of weeds which makes them effective eating machines when you need to clear large tracts of land. And, it provides a safe and natural alternative to harmful herbicides. However, the most convincing reason is that you save a ton of money by renting goats for weed control. So, if you are looking for ways to avoid renting machinery or hiring labor, here’s how a herd of goats can eat away at the total expense.

Why Are People Renting Goats?

People have been raising goats for thousands of years. Nowadays, some have used them to create lucrative business opportunities. With the many harmful side effects of harsh chemicals and herbicides, more people are looking for more eco-friendly options. Goats are a natural way to clear brush and overgrown yards or commercial lots.

What makes them so effective is that they will eat just about anything. They will happily munch on the weeds and invasive plant species such as poison ivy, poison oak, sumac, kudzu, milk thistle, knotweed, wisteria, and reed grass, just to name a few. However, some plants are toxic to goats and must be removed before they can graze. But, goats can handle most of the bramble and thorny plants you wouldn’t want to remove by hand.

Although there are many benefits in using goats for weed control, here are some of the most common reasons why people prefer using them:

  • Goats quickly clear the land you want to use.
  • They provide natural fertilizer and enrich the soil.
  • Their hooves till the soil, saving you a ton of labor if you plan to use the area for gardening.
  • Goats are excellent climbers, meaning they can reach places machines can’t. So, they are more effective for steep, rocky terrain and wetlands.
  • It eliminates the use of herbicides which can harm your health and the environment.
  • Targeting grazing is a great preventative measure in areas prone to wildfires.
  • Renting goats is much cheaper than hiring a landscaping company.
  • You don’t need a permit to let goats graze on your land.

How Can You Save Money by Renting Goats for Weed Control?

Although there are many practical benefits for renting goats, let’s discuss the dollar and cents of it. In addition to all the environmental benefits, here is how you can save money by renting goats for weed control.

1. It is cheaper than paying for a professional landscaping service.

First and foremost, using goats is much cheaper than paying for professional weed removal. Landscaping companies typically charge between $50 and $100 an hour for their services. Depending on the size of your lot and the density of the overgrowth, it might cost you anywhere from $2,000 to $4,000 per acre to clear and remove all the yard waste. On the other hand, you can rent a herd of goats for about $400-$800 per acre. If you go with the goats, you can save a lot of cabbage.

2. There are no disposal fees.

This brings me to the second point: you don’t have to pay for disposal fees. Since the goats are eating the yard waste, there is no debris to burn or haul away. So, you can completely avoid the cost and further reduce the total bill for weed control.

3. They provide free fertilizer to enrich the soil.

Another added benefit is that goats will provide free fertilizer. As any gardener will tell you, nothing beats good, ol’ fashioned fertilizer to enrich your soil. Hiring goats will provide a nutrient-rich base if you want to lay sod or plant a garden in the area they are clearing. So, you can spend less money on expensive potting soils from your local gardening center. And, the goats will even till it into the soil with their hooves, saving a lot of man-hours.

4. You don’t need to buy herbicides for future treatments.

If you rent goats to get rid of your weeds, you don’t need to spend money on herbicides down the line. While more resilient weeds will return, you can clear the majority of your weeds in a single visit. The first time that you use targeted grazing takes the longest since there are years of growth to clear. However, a few more applications should clear all unwanted foliage from your property and eliminate the need to use herbicides.

5. You can save even more if assist.

If you don’t have facilities that are suitable for livestock, it can take some time to prepare. However, some companies may offer a discount for those who are willing to roll up their sleeves and get their hands dirty. With more people to assist, it greatly reduces the time and labor costs of setting up. So, offering to help remove toxic plants, set up electric fences, or feed and water the herd could drastically cut the final costs.

Where Can You Rent Goats?

For those looking to rent goats, you can do a local search to see if there are any goat rental services near you. If you aren’t getting any hits, look up other keywords like “targeted grazing” or “conservation grazing” to widen the search. Be sure you check the reviews to choose the best fit for your job.

However, this is still a relatively new business idea. You can always ask for a referral from someone who knows about renting goats for weed control. Or, you might try contacting local farmers who keep goats. Even if they don’t have a rental company, they may be willing to offer their services for the right price.

Why Aren’t More People Using Goats?

Many people still prefer the fastest and easiest methods for weed control. It takes time for the goats to eat, and even longer when all their favorite vegetation is gone.

Furthermore, using goats won’t give you the same finished look that landscaping companies offer. They cannot distinguish between weeds and manicured landscaping. So, they may decide your shrubs and expensive flowers are more preferable to the weeds you want them to eat. Although it is effective, it isn’t always pretty.

Finally, renting goats is not practical for smaller pieces of property. Most companies have a one-acre minimum for jobs they take. They have a limited number of animals, so they have to choose jobs that will be profitable.

However, if you think goats are the right answer for you, contact local companies for quotes and see just how much you can save!

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