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Three Generations Living Together
February 20, 2012, 10:11 am

One of today’s growing trends is the sharing of a residence by three or more family generations. This can be a result of pressing financial issues or a need to care for one of the family elders.  For others, it is a conscious effort to rekindle the family as an institution. 

A multigenerational household is defined as three or more generations living together.  While such living arrangements have been common among the Asian and Hispanic cultures, only 4% or 4.2 million American households are multigenerational.  However, between the years of 1990 and 2000, multigenerational households in the United States grew by 38%.  Since 2000, housing preferences lead experts to believe that the trend has accelerated.

Based on the Census 2000, in 65% of multigenerational families, the grandparent was the owner of the residence with children and grandchildren living with them.  In one-third of the cases, the house was owned by a child with their parent living with them and their children.

 

Refinance Your Mortgage?
February 13, 2012, 12:44 pm

Mortgage rates are at an all-time low. To have the option of refinancing, you need to have a strong financial position.  Who can qualify and what do you do if you can’t? 

The current fixed 30-year mortgage rate is under 4%.  If you have a variable rate mortgage or if your current rate is above 4.5%, it may make sense to investigate your refinancing options.  Refinancing fees need to be considered to determine the benefit of a lower interest rate.  However, if it does make sense, a lower borrowing rate can reduce your monthly payment, freeing up cash for other needs.  Refinancing can also provide an opportunity to reduce the number of years until you are mortgage-free. The current rate for a 15-year fixed mortgage is less than 3.5%. 

 

Planning Pays Off
February 7, 2012, 10:51 am

Super Bowl XLVI is over and we can certainly be proud of Indianapolis. The world has a new perception and a deeper appreciation for our City.  Our Host Committee set their goal for the event, planned for all contingencies, and implemented completely.  Planning is the key to achieving personal goals as well.

Since the initial bid was made in 2007, the Host Committee and its army of volunteers has worked tirelessly to plan for this major event. The goal was to host a successful Super Bowl, but the means to accomplishing this had to consider all potential roadblocks. You start with the best situation and then you plan for the worse.  Once the plans are in place, you implement.  As the event unfolds, you revise your strategy to compensate for the unexpected and put the event back on track. 

 

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