Downsizing from a home that fits one’s whole family and frequent guests to a home for retirement can seem daunting. However, when you wisely consider what increases home value in the eyes of buyers and make your move at an opportune time, downsizing can be part of your overall financial well-being in retirement, while also freeing you from the maintenance and cleaning of a larger home. Here are some things to consider as you prepare to downsize your home for retirement so that you can make the transition smooth and fruitful.
Is Your Home Divisible? Consider A Renter Or ADU
Often, looking at your current home with fresh eyes can be the first step to downsizing. If your home is structured so that a renter could have a separate entrance or at least some privacy, you might consider sectioning off your home and living in one portion of it. This allows you to skip the hassle of selling the house but still reap some of the benefits of lower housing costs.
If you have a full accessory dwelling unit or ADU, your options are wider still, with many areas allowing short-term rentals that are in the same property that you live in. Having roommates may feel unusual after having a single-family residence, but it can be quite nice to have someone around to chat with.
Talk With A Real Estate Agent About What Tradeoffs Exist If You Move To A Condo Or Smaller Home
Whether downsizing is prudent really has everything to do with what you want to do next: if you’re willing to rent after selling your house, for instance, you have more flexibility than if you want to immediately buy a new property. Talking to a real estate agent can help you put numbers with your goals: some condos in high-value areas like the beach are actually more expensive than large single-family homes in rural areas, so it’s wise to know what your prospects are. If the market is particularly favourable for buying or selling, you and your agent can talk through the options for buying, selling, or both on a particular timeline.
Determine What Will Need To Go In Order To c
After you decide to proceed with selling one home and buying another, start figuring out what you can live without and donating, selling, or discarding it. No one wants to move all their belongings from 3000 square feet to 1000 square feet and feel incredibly cramped as a result. Focus on finding the items you genuinely use frequently and which bring you joy, and find new homes for everything else.
Choose An Auspicious Market If You Have The Flexibility To Wait A While
If you don’t absolutely need to downsize now, remember that you can wait out some of the worse markets! You can even combine all of our suggested strategies: get a renter while you wait for the right market to sell and for the right property to buy, and in the meantime sell or donate the items that won’t be accompanying you to your new home!
Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.
The traditional investment model is a flawed system, an old dinosaur that needs to evolve.
It’s time we reevaluate the conventional wisdom surrounding investments, which is overly fixated on businesses that are already successful and tragically shortsighted when it comes to companies teetering on the edge of growth.
In traditional investing, there’s an unspoken rule: the golden ticket to getting funding isn’t innovation or potential but a proven track record of making at least $10 million. This is a narrow-minded approach that does nothing more than stifle the very heart of our economy—small businesses.
Introducing sweat equity
Eight-figure entrepreneur, growth mentor, and innovative investor Tamara Loehr (www.tamaraloehr.com) bring a breath of fresh air to the world of investing. She’s not your usual investor who waits for businesses to reach millions before swooping in.
Instead, she actively seeks out businesses with potential and partners with them by investing her expertise and services to help them achieve growth and significant returns.
She calls this sweat equity investment, a unique model that’s a game-changer for businesses. Tamara doesn’t merely provide financial backup; she rolls up her sleeves and brings a wealth of expertise, strategic vision, and creative solutions to the table.
It’s a holistic approach that not only increases the likelihood of success for the businesses she invests in but also amplifies the potential returns for both the entrepreneur and herself.
By focusing on small businesses and collaborating with them closely, Tamara is paving the way for a new era of investing that champions small businesses and fosters a more inclusive and dynamic business landscape.
What is sweat equity?
Sweat equity is a unique investment model where investors exchange their expertise, resources, and time for equity in a business. Tamara came up with this innovative approach to investing after seeing how traditional methods often left entrepreneurs struggling to repay loans or lose equity in their businesses.
In this model, instead of investing cash, investors offer services to companies in exchange for a stake in their business. It's a win-win situation for both parties, as businesses receive the much-needed resources to grow, while investors gain a stake in a growing business.
Why sweat equity works
Sweat equity investment offers a unique and innovative approach to investing that can provide a range of benefits for both investors and entrepreneurs. If you're a creative investor looking to explore new investment opportunities, sweat equity investment is worth considering.
Entrepreneurial access to expertise
One of the key advantages of the sweat equity investment model is the access to expertise it provides to entrepreneurs. Founders have a strong vision and passion for their business but may lack skills or experience in areas such as finance, marketing, or operations. By partnering with a sweat equity investor with expertise in these areas, businesses can leverage this knowledge and experience so they can succeed faster.
Sweat equity investors like Tamara are experienced business owners who have a track record of building and scaling successful companies. They are looking for new investment opportunities that align with their expertise and interests and are willing to offer their skills in exchange for equity. This type of partnership allows entrepreneurs to access the expertise they may not be able to afford to hire on their own.
Entrepreneurs also gain access to an investor’s connections. These investors often have a vast network of contacts that can be beneficial to the business, including suppliers, customers, and other professionals in the industry.
Sweat equity investors also have a vested interest in the success of their investments. They are not just passive investors but active partners who are invested in helping their partners achieve their goals. This means that they are likely to be more involved in the day-to-day operations of the business, offering guidance and advice as needed.
Capital conservation
Instead of pouring all their capital into hiring consultants or buying equipment, businesses exchange equity for the expertise and resources they need. This approach can be particularly useful for startups and small businesses that may have limited financial resources.
When entrepreneurs team up with sweat equity investors, they’re essentially receiving support and guidance in exchange for equity. By doing so, they’re preserving capital and freeing up funds that can be reinvested in other areas of their business. This can be a game-changer, especially in the early stages of the business when cash flow is often a major challenge.
The value of sweat equity extends far beyond the immediate financial gain. Entrepreneurs gain access to experts who are invested in the success of their business and who can help build and grow the company over time. By leveraging sweat equity, they’re setting themselves up for long-term success and sustainability.
Risk mitigation
When it comes to investing, risk is always a factor to consider. However, the risk can be mitigated with sweat equity investments. Investors and entrepreneurs share the risks of a sweat equity investment, thereby reducing the financial burden of starting, growing, and investing in a business.
This shared-risk approach provides a safety net for entrepreneurs who may not have the financial resources to weather unexpected expenses or a downturn in the business.
And because the investor is a partner and has a vested interest in the success of the business, they are more willing to provide support during difficult times.
Overall, the risk-sharing associated with the sweat equity model can help entrepreneurs avoid bankruptcy or failure and increase their chances of success.
Long-term commitment
One of the most compelling reasons for exploring sweat equity investment is the long-term commitment it demands from both the entrepreneur and the investor.
In a traditional investment model, investors are primarily focused on achieving financial returns and may not have a vested interest in the long-term success of the business.
With sweat equity investment, both parties have a shared interest in the success of the business. The investor is contributing not just financial resources, but also expertise and guidance, which makes them invested in the company's future. This commitment from the investor can provide stability and security for the entrepreneur, who has a partner who is as committed to the business's success as they are.
This shared commitment also means that both parties are willing to work together through challenges and changes, adapting and evolving as needed. In essence, sweat equity investment creates a partnership based on a mutual commitment to the business's long-term success.
This long-term commitment is especially valuable for creative investors who are looking to invest in innovative, high-potential businesses. They have the opportunity to be part of something they believe in and help guide the company toward its full potential.
Credibility booster
Sweat equity investment is not just a way to conserve capital or mitigate risk, but also a chance to enhance an entrepreneur’s credibility. Customers and investors are more likely to do business with a company that has an experienced partner behind it.
This type of partnership can lead to a reputation boost that ultimately results in more opportunities for growth and expansion.
Aligned goals
With sweat equity, the investor becomes a stakeholder in the business and has a personal interest in seeing it succeed. This shared interest ensures that both parties are working towards the same objectives and helps create a more collaborative and supportive relationship.
When investors are only focused on financial returns, there can often be a misalignment of priorities with the entrepreneur. This misalignment can lead to conflict, mistrust, and a breakdown in the working relationship. With sweat equity, however, both parties have a vested interest in the success of the business. This shared interest can foster a strong sense of trust and cooperation between the two parties.
Also, when the investor is invested in the long-term success of the business, they are more likely to stick around and provide ongoing support and guidance to the entrepreneur. This can help the entrepreneur navigate the challenges of growing a business and accelerate the path to success.
Value-added mentorship
One of the key benefits of the sweat equity investment model is the personalized mentorship that investors inevitably provide to entrepreneurs.
For many entrepreneurs, starting a business can be overwhelming, and they may lack the necessary experience in certain areas of the business. This is where mentoring by a sweat equity investor becomes crucial. With their guidance and support, the entrepreneur can avoid costly mistakes and take the right steps to grow their business.
The mentorship also provides entrepreneurs with an outside perspective and a fresh set of eyes. This can help identify areas of improvement and opportunities for growth that may have gone unnoticed. Through regular communication, investors can hold entrepreneurs accountable and help them stay on track with their goals.
Ultimately, mentoring is a win-win situation for both parties. The entrepreneur gains valuable insights and guidance, while the investor can contribute to the growth and success of the business. With the right mentorship, entrepreneurs can take their businesses to the next level and achieve long-term success.
Takeaway
Sweat equity is a game-changing investment model that provides a host of benefits to both investors and entrepreneurs.
Tamara’s approach, which focuses on creating a long-term relationship between the investor and the entrepreneur, allows for a unique level of collaboration and expertise-sharing that traditional investment models cannot provide.
Not only does sweat equity offer a way for entrepreneurs to conserve capital and mitigate risk, but it also leads to an alignment of goals between business and investor.
As an investor, it's essential to explore this innovative approach to investing and consider incorporating it into your investment strategy. By doing so, you’re not only investing in a business but in the potential growth and success of the entrepreneur themselves.
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If you want to know how to make money from Cryptocurrency then you must know what is cryptocurrency. The cryptocurrency market is much stronger than any stock market which is beneficial to the traders and the casual investors in the industry. Cryptocurrency trading provides the perfect opportunity for making money in the market. The innovations and market of cryptocurrency have steeped the zenith in the market and very soon will be taken over by the bots. So it becomes important for you to know how to choose a correct Crypto Trading Bots and which are the best crypto trading bots of 2020.
Parameters of Choosing the Correct Crypto Trading Bot
Choosing the correct crypto trading bot is the most important aspect. Since now bots will be taken over the cryptocurrency trading, hence one must wisely choose the correct bot.
The first parameter which must be considered while choosing a crypto trading bot is the reliability of the bot.
The second factor that must be checked in the bot is the security of the bot.
The third factor must be the profitability of using a particular cryptocurrency bot.
Transparency of the bot is another major factor that must be checked before finalizing any.
Last but not the least, the bot must be easy to use. The user must be friendly with the usage of the bot.
Top 3 Best Crypto Trading Bots
There are many bots available that are associated with cryptocurrency trading but one must know which are the best Crypto trading bots. Choosing the correct bot is very important hence the top 3 best crypto trading bots have been introduced here.
Cryptohopper
Cryptohopper is relatively a newer bot in the crypto trading market. But this new bot has caught the attention of many users with the new technical features that it comes with. One of the major drawbacks of most of the trading bots is that they might only run on the local machine which means that they will run when your PC is turned on by you. This bot uses cloud technology to keep the bot running 24*7.
3Commas
Another interesting crypto trading bot is 3Commas which has gained popularity in very little time as it provided a lot of users with a lot of gains. This bot has a unique feature that separates it from other bots that are this bot has the ability to trail any crypto market. This feature helps the bot to close the trade at the most profitable position. This bot also allows users to trade with multiple cryptocurrencies at the same time.
Kryll.io
Innovation is their weapon and they have utilized their capability to the ultimate level to make people realize that the best way to crypto is trading. They have redefined the definition of cryptocurrency. The core feature of this bot is you can create your own strategy here and not blindly follow any automated strategy.
Conclusion
Apart from all the advantages and benefits brought in by crypto trading bots, it also brings in some disadvantages. We can say that this is not very suited for new traders. It also requires constant monitoring, and not all the bots would be equally secured. Kow you may choose the correct bot for yourself.
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What Types of Tax Does the Netherlands Have?
Similar to other nations, Netherland is no stranger to Taxes. Different types of taxes also apply as is one liable for things like taxes on income, local taxes, taxes on assets and even wealth tax.
A few of the different types of taxes Netherland residents pay are:
Municipal Taxes (Real-Estate Tax)
Income Tax
Road Tax (if you own a car)
Waste-Collection Tax
Water Tax
Boating Tax
Parking Tax
Dog Tax
But it’s not all as bad as it looks, the government taxes you only if you are able to pay these taxes. So, it depends on aspects like if you have a job, the level of your income, and only if you fall under the category of being able to afford to pay the tax, then the Dutch Tax Office debits a certain amount every month. If you file your tax returns (belastingaangifte) at the end of every tax year, you may get some tax back too. For more information, you can visit their website.
What is a WOZ Evaluation?
WOZ or ‘Immovable Property Tax Act’ is a type of valuation that the municipality does on its resident’s behalf, usually on real-estate/property if you are a homeowner, or if you are renting out an office for instance. This value is reassessed every year and you are sent a notification of the amount to pay. Depending on the municipality, you either have to go to their office to pay it in person or via direct debit.
Other residential categories that pay this tax are social housing, owners of a house boat that may be used to conduct professional services like running an office, are all liable for this real-estate tax.
On top of that the same owners of the boats also pay what’s called a liggeld, which is like a penalty for occupying an area of water that belongs to the authorities, in this case the municipality themselves. If you own a boat for leisure purposes, you pay a boat tax shown by the vignette that needs to be displayed on your boat.
With all these WOZ and additional taxes adding up, it is no wonder some residents are not happy with the evaluations that are sent to them on a year on year basis as due to human error sometimes the total amount can be wrong. But what can you do about this?
Can a WOZ Decision be objected?
The short answer to this is – yes, you can object the WOZ value sent to you. You can either do it yourself directly with the municipality, or seek out the services of professionals who can bezwaar woz for you.
You would need to explain why you are objecting to the decision. Every resident has the right to this service, and information is also provided on a leaflet that is sent from the authorities to you with your evaluation.
Items that they can assist you with are:
Reimbursing housing costs of up to Euro 270
Saving you a significant amount on property and real-estate tax payments (up to 30%)
Saving you a significant amount on multiple properties and real-estate tax payments (up to Euro 730)
With the WOZ value objection services – you can request an evaluation report from them, detailing how they got to the numbers. If your house has not been valued correctly, you can submit this objection to the government body within 6 weeks of the original decision, there after the authorities will give their response and any change in decision by the end of the calendar month in which it was submitted initially https://www.amsterdam.nl/en/municipal-taxes/property-valuation-woz/
Hiring a professional to do this part for you can save you a lot of time and hassles, as they have years of experience handling cases like these, sometimes even going to court with it and have legal knowledge that can assist in the decisions put forth by the municipality office. The bezwaar maker can help you make both a formal informal objection, depending on the circumstances – they would be the best people to decide this for you.
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