- Buy or lease?
- If buying, buy for cash or take out a car loan?
- New or used? (I nearly always suggest used, a.k.a. “certified pre-owned”. Remember the book, The Millionaire Next Door?)
- If buying, how often to replace?
- If leasing* or taking out a car loan, what is a sensible payment amount? With a lease, buy at the end of the lease?
- For younger people perhaps living in or near a city, is it possible to not even own a car? And take advantage of excellent (cheaper) alternatives as needed such as renting a car, Uber, or Zipcar?
Grandma moving in?? Traveling to help mom and dad from time to time? Sharing tasks with your siblings to help out your parents?
“Caring for Aging Parents” is an emotional and involved topic that takes FAR longer than 2 minutes to cover. However, it is a critical topic and one that comes up daily in my conversations with friends and clients. Think about it: how many times have you been part of this conversation in the past several months alone… among friends/family?? I bet more than once!
In times of stock market weakness – like we are seeing over the past month – we can tend to get scared. We are human. However, I stress to my clients and friends NOT to allow short-term market moves (monthly, quarterly…even yearly) to lead to poor decisions. Why? Please read on…
The following chart reads like a cartoon so not to worry that I am sending you a complicated graph. The RED DOTS = how much the market went down sometime during each year. The BLUE LINES = where the market finished at the end of the year.