Emergencies are unpredictable and unavoidable. The older you get the more you realize the last emergency was actually not the last. Understanding this cycle and being prepared is meant to help you and your dependents. Learn why for new parents building an emergency fund is so important and how my recent experience taught me to even tweak my original strategy.
Rent prices prices in 2015-2016 in NYC made it near impossible to purchase an investment property while you rent. The NOI on an investment property just did not yield enough to tip the balance in your favor of also paying rent for a large home that was safe enough to raise a child. However, for someone starting out in real estate and not wanting to purchase an investment out of state just yet, one strategy that we choose was to purchase a property with the intent to rent out but live in first. This strategy allows you to be more patient and see where the market heads but still be in the game. For our situation, purchasing a rental property before primary residence worked for us for 3 main reasons.
Getting started and choosing the right life insurance for parents can be confusing. When I became a father, what started as just another to-do list of things quickly became more than that as I understood what life insurance really meant. Getting life insurance IS a parental responsibility. It is a product that offers you peace of mind (and most importantly) it should not be viewed as an investment.
When researching life insurance options at the highest level (Term vs Whole vs Universal), I learned of a policy within the Term family that caught my attention, a policy called Return of Premium Term Life Insurance (or ROP). I quickly got into my analysis mode and decided to compare the Standard Term vs. Return of Premium Term Life Insurance.