Who’s Saving for Retirement, Get Your Affordable Mortgages Here, Social Media Hacks + Ways to Save
On this episode, we’ll talk about which American’s save the most money towards their retirement. We’ll also discuss ways that the federal government is trying to make buying a house more affordable through a lower down payment requirement. Finally, we continue with our series of 54 ways to save money.
Those stories, plus much more, on this episode of Young & Oldish Money.
Guess Who Saves the Most for Retirement?
If you guessed the younger set, then you’re wrong!
According to a recent Money Magazine article by Donna Rosato, “You’ll Never Guess Who’s Saving the Most For Retirement”, it’s not the Gen Y or X who are plowing into retirement funds.
The over 65, AARP members are making the biggest dent in their retirement accounts. We discuss why this may be so, and how the seniors are stuffing their retirement accounts with as much money as possible.
Are you surprised at who saves the most for retirement?
Listen to get ideas about ways to fatten your nest egg and how even late bloomers can prosper in retirement. Learn how to retire with more in, ‘who saves the most for retirement’.
Cheap Mortgages for Millennials – Good or Bad?
We discuss the ins and outs of new mortgage products aimed at growing the ranks of millennial home owners. Real estate ownership, long considered a sign of success across America, is becoming less affordable for many. Today we hit on new products designed to reverse the declining home ownership rates, especially among young adults.
In the Money Magazine article, “Here Come Cheap Mortgages for Millennials. Should We Worry?” Carla Fried talks about the new rules that allow borrowers access to federally guaranteed mortgages with only a 3% down payment. That means if you buy a $400,000 house, then you only need to put down $12,000.
Is this too good to be true, or is this low down-payment opportunity setting the groundwork for a future housing crash?
Find out the pros and cons of low down-payments as well as more great information about real estate.
We’ll cover these questions and more…..
- Should millennials start looking to buy a home or condo now, or not?
- How long will you stay in the house?
- Do you have enough income to make the mortgage payments?
Check out government-backed and private mortgages to prepare yourself for home ownership.
Here are the details about these new low down payment federally-insured mortgage products:
Fannie Mae My Community Mortgage-Click on the link to get all of the details about this new low down payment home ownership program.
Freddie Mac Home Possible Mortgage-Click to learn all about this program as well as other Freddie Mac Mortgage offerings.
These real estate issues and more are discussed in this episode.
Is Social Media All It’s Cracked up to Be?
Scott Leibs from Inc.com wrote “How to Learn From Social Media (Without Wasting Time)” and inspired this conversation about unique way to use social media.
We dug into the insights from Jeff Platt, CEO of SkyZone, an L.A. based indoor trampoline company and how he used social media to improve. There are unique lessons in this social media deep-dive into ways to gain from your ‘social time’ online.
Here are a few insights from this podcast episode:
- Read what others are saying about you on Twitter, Instagram, Facebook and other social media platforms. Use their comments to improve.
- Let your findings help improve your business and individual relationships with customers and followers.
- Use social media to learn.
- Engage with social media and build your brand.
- Use criticism to your benefit. Applies to businesses and individuals.
More Ways to Save Money
Finally, we’re continuing with our America Saves.org initiative about “54 Ways to Save”.
Get a few more tips about saving money.
We discuss money saving strategies:
- When to buy expensive items. How to make sure you’re getting the best return on investment on your purchase.
- How to use your debit and credit cards the right way.
Do you have any thoughts on social media, retirement savings, buying a home or ways to save?
If you learned something today, we’d really appreciate a review on iTunes.
(Featured image courtesy of digallagher on Flickr)