February 2019 6

How to Avoid These 15 Retirement Account Fees and Save Money

If you want to guarantee a happy, stable retirement, it’s important to start saving — and investing — now. Unfortunately, hidden fees can wreak havoc on even the smartest investment strategies. Along with consulting fees, you might find yourself dealing with fees to trade, fees to advise and even high tax fees.

Click through to see 15 hidden fees to watch out for so you can avoid wasting your money in retirement!

Living in This 20 US Cities Is More Expensive Than You Thought

Living in a city can be expensive, with everything from rent to the average grocery bill eating up your savings and possibly preventing you from saving up for that first down payment. And, if that weren’t enough, those costs are going up faster in some cities.

In its latest study, we examined the cost of living in 50 major U.S. cities and found which ones experienced the biggest jumps in the cost of living from 2017 to 2018.

The study looked at the amount needed to pay for necessities such as food, rent, utilities, transportation and healthcare, as well as the amount one should budget toward savings and discretionary spending. These costs were then consolidated into a “live comfortably” income to determine the places in America that are getting more expensive.

Be Rich with Less than $100/Year in These Affordable States

If you’re wondering, “How much do I need to be rich?” the answer depends on where you live. To be rich in America — or in the 80th percentile of household incomes — you need to earn $103,405, which is significantly less than the amount many Americans think they need to be “rich.” However, in some states, you need to earn even less than that to be among the top earners.

For this study, we defined “rich” as an income in the 80th percentile of households, and determined the states where that amount was less than $100,000. The study also took into consideration states where top-tier homes were affordable. In addition, we looked at living costs, including groceries, utilities, transportation and healthcare. Keep reading to see where you can live a rich life while earning less than $100,000.

15 Big Cities from USA Where Prices Dropped Off Astonishingly

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Believe it or not, housing is actually becoming more affordable in a variety of major cities across the U.S., despite the fact that home prices in America are on the rise as a whole. In these cities, aspiring homeowners might now be able to purchase homes they couldn’t afford the previous year.

We compared the change in the home median list value of the 200 most populous U.S. cities over the past year, two years and three years to determine the major cities where home prices are plummeting.

15. Austin, Texas

  • March 2017 median list price: $390,000
  • March 2018 median list price: $389,000
  • Year-over-year change in median listing price: -$1,000

Despite — or maybe because of — its decreasing home prices, Austin continues to be a hot real estate market. As of April 2018, the demand for homes was higher than the available inventory in the mid-Texas city, according to the Austin Board of Realtors.

14. Tulsa, Okla.

  • March 2017 median list price: $165,000
  • March 2018 median list price: $163,740
  • Year-over-year change in median listing price: -$1,260

It’s a great time for buyers to get more bang for their buck in Tulsa, Okla., Gannon Brown with McGraw Realtors told the city’s NBC affiliate. Brown also said that homes priced below $250,000 tend to sell very quickly in Tulsa, so if you want to get an affordable home there you should move fast. Then do some home upgrades that won’t blow your budget to quickly increase your new home’s value.

13. Naperville, Ill.

  • March 2017 median list price: $435,238
  • March 2018 median list price: $433,495
  • Year-over-year change in median listing price: -$1,743

Until recently, home prices in Naperville were rising due to a demand for homes in family-friendly communities outside of Chicago. But they’re now on the downturn. The city features a well-developed downtown area and a historical district.

12. Fort Wayne, Ind.

  • March 2017 median list price: $146,900
  • March 2018 median list price: $144,900
  • Year-over-year change in median listing price: -$2,000

Not only does Fort Wayne have increasingly affordable homes, but with an overall low cost of living, it’s one of the best places to live on only a Social Security check, a separate study found.

Take advantage of low housing prices in Fort Wayne while you can. The city is the 10th-hottest housing market in the U.S. as of May 2018, according to Realtor.com. That marks a 20-spot jump from the previous month.

11. Overland Park, Kan.

  • March 2017 median list price: $399,000
  • March 2018 median list price: $395,000
  • Year-over-year change in median listing price: -$4,000

Older homes could be the main factor behind Overland Park’s decrease in home prices. Many residents in the area have been flipping their homes in order to appeal to buyers seeking move-in ready homes, Kansas City’s Fox News affiliate reported.

10. Richmond, Va.

  • March 2017 median list price: $239,000
  • March 2018 median list price: $234,900
  • Year-over-year change in median listing price: -$4,100

Although listing prices are lower than they were the previous year in Richmond, competition between buyers is high due to high demand and low inventory. This means that homes have been selling for above asking price in some areas, the Richmond Times-Dispatch reported.

9. Toledo, Ohio

  • March 2017 median list price: $79,694
  • March 2018 median list price: $74,900
  • Year-over-year change in median listing price: -$4,794

Home sales have been down in Toledo in recent months, The Blade reported, which could mean sellers are lowering prices to appeal to buyers. Toledo is one of the major cities with cheap homes: It now has the second-lowest median home prices of all the cities included in this list.

8. San Antonio

  • March 2017 median list price: $234,500
  • March 2018 median list price: $229,500
  • Year-over-year change in median listing price: -$5,000

San Antonio is known for its affordable and family-friendly real estate, and homes have become even more affordable in the Southern city in the past year. Home prices have remained low despite an influx of new residents — 24,000 people in the last year alone — Bisnow reported.

7. Shreveport, La.

  • March 2017 median list price: $164,900
  • March 2018 median list price: $159,900
  • Year-over-year change in median listing price: -$5,000

Home prices in Louisiana as a whole have increased over the past year, but they’ve decreased in Shreveport. Many of the homebuyers in the city are first-time buyers, KTBS, the local ABC affiliate, reported.

6. Birmingham, Ala.

  • March 2017 median list price: $79,900
  • March 2018 median list price: $69,000
  • Year-over-year change in median listing price: -$10,900

Although home prices in Birmingham were higher than in Toledo in March 2017, thanks to a large drop in prices, Birmingham now has the most affordable homes of any of the cities on this list. Perhaps due in part to its more affordable housing, home sales in the city are also up from the previous year, according to data from the Alabama Center for Real Estate.

5. Honolulu

  • March 2017 median list price: $650,000
  • March 2018 median list price: $639,000
  • Year-over-year change in median listing price: -$11,000

Honolulu is one of the few U.S. real estate markets where inventory is growing, according to the May National Housing Report from Re/Max. Although Honolulu home prices have dropped, they are still among the highest of all the cities included in this list.

4. Lafayette, La.

  • March 2017 median list price: $239,000
  • March 2018 median list price: $224,000
  • Year-over-year change in median listing price: -$15,000

Low home prices plus a booming market make Lafayette a hot housing market for millennials. More than 56 percent of homebuyers in the Southern city are now millennials, the local ABC affiliate, KATC, reported.

3. Greenville, S.C.

  • March 2017 median list price: $277,000
  • March 2018 median list price: $260,000
  • Year-over-year change in median listing price: -$17,000

Although prices in Greenville have decreased significantly over the past year, the median home list price might still make homes out of reach for lower- and lower middle-income families in the area, Greenville News reported.

2. Santa Rosa, Calif.

  • March 2017 median list price: $579,000
  • March 2018 median list price: $550,000
  • Year-over-year change in median listing price: -$29,000

A main contributor to the dip in Santa Rosa home list prices were the Northern California fires, which took place in October 2017 and destroyed thousands of homes. Home listings in the area reached a low in January 2018, according to a Trulia report.

1. Arlington, Va.

  • March 2017 median list price: $679,000
  • March 2018 median list price: $645,000
  • Year-over-year change in median listing price: -$34,000

Arlington is the city where home prices have plummeted the most — though it still has the highest median list price of all the cities included in this list. Overall, the real estate market in Arlington has remained flat, according to data from Northern Virginia Housing Market.

Cities Becoming More Affordable for Homebuyers

Most of the cities with the biggest home price drops are located in the South, with the Midwest being the second-best area to find cities where home prices are plummeting. The two geographical outliers are Santa Rosa, Calif., and Honolulu.

If you are interested in buying a new home in one of these cities, your first step is setting up a timeline with goals and deliverables. Next, get your finances in order. This means making sure your credit score is high, you have enough savings to cover a down payment and closing costs and you’ve been pre-approved for a mortgage.

Then, you can secure a real estate agent, and begin the home searching and buying process.

Retirees Are Wasting More Than $8000/Year on These 10 Things

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Trim these expenses to save more in retirement

With a lot of discussion about how to have enough for a comfortable retirement revolving around stock markets, bond yields and 401k accounts, it’s easy to overlook one of the simplest tools for ensuring that your nest egg doesn’t crack early: good old-fashioned budgeting.

A new survey polled more than 1,000 Americans on their spending habits and revealed that retirees can save an additional $8,000 a year if they cut certain expenses from their budget.

Click ahead to see them!

18 Cheap Places to Retire Near the Beach in USA

If your ideal place to retire in America is by the beach, you’re in luck — many beach cities have affordable housing options and a sizable 65 and older population.

To find the most affordable places to retire near the beach, we looked at 59 beach cities and narrowed down a list of locations where people ages 65 and older made up at least 10 percent of the population. The study analyzed factors such as home values and healthcare expenses, both of which can help you determine your retirement costs.