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John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Millennials: Buying a Home Top Priority over Next 5 Years

June 23, 2016 2:30 am

Millennials may differ from generations before them, but they share at least one aspiration: buying a home.

That’s according to a recent study commissioned by the Million Dollar Round Table (MDRT), an association of financial professionals, exploring the priorities of millennials. Close to half of millennials in the study, conducted by Harris Poll, are prioritizing buying or renovating a home in the next five years, topping a list that includes paying off student loans and getting married. The study found:

• 48 percent are prioritizing buying or renovating a home;
• 45 percent are prioritizing advancing in a career;
• 41 percent are prioritizing having a financial plan;
• 33 percent are prioritizing paying off student loans; and
• 30 percent are prioritizing getting engaged or married.

Notably absent from milllennials’ priorities is retirement. Millennials in the study expect to retire, on average, at 62 years old—younger than the expectations expressed by other generations—but just 22 percent are saving for it.

“Millennial expectations to retire at a younger age than their predecessors do not match with their lack of financial action,” observes Brian D. Heckert, president of MDRT. “While most say it's a priority to focus on planning, less than 10 percent have actually started doing so. What they may not realize is that having a plan now can give them greater retirement savings and increased financial security during those golden years.”

Source: Million Dollar Round Table (MDRT)

Published with permission from RISMedia.


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What to Buy (and Not to Buy) in June

June 22, 2016 2:27 am

With graduations, weddings and Father’s Day to celebrate, you may find your wallet takes a hit come June. Looking for some relief? Here’s the scoop on bargains—and what can wait—from the shopping mavens at DealNews and NerdWallet.

Carpeting/Flooring – June is typically a slow season for flooring retailers, so be on the lookout for low prices—and don’t be shy about negotiating for installation discounts.

Fishing, Gardening and Hardware Equipment – June historically offers deals on fishing equipment and home-related items, like gardening and hardware tools.

Gym Memberships – Gym memberships tend to fall in June (when many exercise outdoors), so take advantage of discounted rates for the fall.

Laptops – School may be out, but many electronics retailers kick-off back-to-school sales in June. Expect deals at Apple stores, Best Buy and online on Amazon.

Lingerie – June is semi-annual sales month at Victoria’s Secret and other lingerie retailers. Gift yourself or a soon-to-be bride with an affordable set.

Outdoor Gear – In June, many outdoor retail chains offering fitness- and sports-wear and accessories slash prices up to 50 percent.

Swimwear – Expect early-season sales on swimwear in June—or, wait until just after July 4 for real blow-out savings.

Hold off on:

A/C Units – The hotter the summer, the higher the prices. Wait for end-of season discounts if you can.

Bicycles – Prices are highest in early summer. Wait until fall for the best buys.

Grills and Patio Sets – Prices are at a premium once summer starts. Delay buying a grill or patio furniture until August, when retailers reduce stock.

Published with permission from RISMedia.


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