RE/MAX 440
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

Relocating? 3 FAQs on Safety, Schools

June 17, 2016 12:21 am

Relocating to a new city can be challenging, especially if you’re thoroughly unfamiliar with the area. Which neighborhood is right for me? How is the school system? What should I know as a resident?

ApartmentList.com answers these questions and more in their recently rolled out relocation educational series:

1. How can I qualify for an apartment?
If you’ll be renting in your new city, seek out rents appropriate for your salary in order to qualify. Generally, according to ApartmentList.com, this means you should earn at least two-and-a-half to three times the total amount of rent for the duration you plan to live in the unit.

If you’re looking at a monthly rent of $1,500, for example, and you plan to rent for 12 months, you need to provide proof that you’ll be earning (or have already saved) at least $45,000. Proof of this can be in the form of past pay stubs or an offer letter (with your salary included) from your new employer.

2. How do I ensure the neighborhood is safe?
Safety, ultimately, is subjective. ApartmentList.com advises relocators to contact the local police station, research statistics on websites such as CrimeReports.com, or tour the neighborhood for a first-hand perspective.

3. How can I find out more about schools?
Contact the local school district office, or the principal or a PTA member of a school you may be interested in, ApartmentList.com recommends. Consulting with someone who has experience with the school can be telling.

For more answers to your relocation questions, contact a real estate professional or visit ApartmentList.com.

Published with permission from RISMedia.


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Want to Retire at 55? 3 Tips

June 16, 2016 2:21 am

Exiting the workforce early is a common dream—some might say fantasy—for many of today’s employees. It can be done, as MSN Money recently reported, so long as you plan ahead.

To retire at age 55, do:

Live Below Your Means – It’s tempting to upgrade from your starter home or buy a new car every few years, but, as The Millionaire Next Door author Thomas J. Stanley points out, retiring early happens for most people only after years of frugality. In general, it’s best to save 25 times your annual salary by retirement.

Stay Investment-Aggressive – Experts say it’s a misconception that conservative asset allocation is the only way to go. All but the very wealthy will need a healthy allocation to stocks for growth. Joe Heider, president of Cirrus Wealth Management in Cleveland, recommends that people within a few years of retirement scale back their portfolios to 60 percent stocks, and hold steady at that allocation into their retirement years.

Budget for Healthcare – Since you won’t be eligible for Medicare until age 65, you will need to secure health insurance. If you won’t have retirement health benefits, one option is to buy an individual or family plan from your state’s marketplace. Retiring couples can expect estimated healthcare costs of $17,000 per year until Medicare eligibility, according to a recent Fidelity study.

These strategies, coupled with a trip (or two) to a financial advisor, can pave the path to an early—still financially secure—retirement.

Published with permission from RISMedia.


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