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Like other age groups, not saving enough for retirement is the biggest vulnerability facing Millennials. However, they’re the only generation that doesn’t seem to know it, as Millennials ranked more urgent needs like managing cash flow, getting out of debt and investing as higher priorities. Here are some steps Millennials can take to strike a better balance between the needs of today and tomorrow.

1. Take control over your day-to-day finances. Millennials rank managing cash flow as their top priority. The first step is to find out where your money is going by looking at previous bank and credit card statements and categorizing them on a worksheet or a free site like Mint or Yodlee MoneyCenter that can track spending online or via smartphone apps. You can then search for ways to cut back on some of those expenses to bring your spending in line with your income and free up money that can be used to pay down debt or save for the future.

2. Know the difference between good and bad debt. Getting out of debt was their second most important priority, but not all debt is equal. Debt taken to enhance career opportunities like a student loan, to purchase a vehicle needed to commute to work, or to invest in an appreciating asset like a home tends to be low interest and can be characterized as “good debt.” Credit card debt taken to purchase the latest iPad is typically charged much higher interest rates and should be considered “bad debt.”

While auto and student loans may be frustrating, they don’t typically cost as much in interest or have as negative an impact on your credit score as credit card debt. In fact, it may make more sense to invest extra money rather than pay down these good debts since the investments can be expected to earn more than you save in interest. On the other hand, you should pay any high-interest debt off as soon as possible.

3. Protect your credit. Millennials are already the most likely age group to check their credit report on an annual basis, likely due to the impact it has on their opportunities for jobs and home ownership. You can take it one step further by signing up for free credit advice and monitoring on sites like Credit Karma and Credit Sesame. For even stronger protection, you may want to put a security freeze on each of your credit reports to prevent would-be identity thieves from opening credit in your name.

4. Run a retirement calculator. With retirement so far off, only 29 percent of Millennials have run a retirement calculator, the lowest percentage of the generations. This lack of awareness is their greatest weakness. Using an employer-provided program like Financial Engines or Schwab GuidedChoice, or a retirement calculator can be an eye-opener.

5. Start saving for retirement. Millennials are the generation most likely to not be saving for retirement at all. While their incomes may be relatively low, and many are struggling with student loan payments, Millennials should still begin building the habit of regular saving. One place to start is to make sure you’re contributing at least enough to your employer’s retirement plan to get the full match and not leave any of that free money on the table. This also forces you to save money before you even have a chance to spend it. You can then gradually increase that contribution rate over time.

6. Open a Roth IRA. One place to put additional savings is a Roth IRA, which can be used to save for both short-term goals like emergencies, going back to school, or buying a home, and long-term goals like retirement. That’s because whatever you contribute to a Roth IRA can be withdrawn tax and penalty free at any time and for any reason so the money won’t be tied up. (Earnings can also be withdrawn penalty-free for education expenses and up to $10k for a first-time home purchase.)

On the other hand, whatever isn’t withdrawn grows to be tax-free after age 59 1/2. (Any earnings withdrawn before age 59 1/2 could be subject to taxes and a 10 percent penalty.) The key is to leave the Roth IRA invested someplace safe and accessible like a savings account or money market fund until there’s enough emergency savings (at least 3-6 months of necessary expenses) accumulated somewhere else. At that point, it can be invested more aggressively for retirement.

7. Get investment help. Investing was the third highest priority for Millennials and an area where their behavior trailed the other generations, probably due to their lack of investment experience. Target date retirement funds can simplify the process but they may actually be too aggressive for many Millennials as 43 percent characterized themselves as conservative investors. See if you can get more customized guidance and advice through your employer or use online tools like FutureAdvisor and Jemstep for free investment recommendations (there are fees if you want to have them manage the money for you).

Source: Financial Finesse

This post has been authored by Eric Slifkin, REALTOR® serving South Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Web site. As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad and I will research the property, arrange showings and handle all the details.

Reprinted with permission from RISMedia. ©2014. All rights reserved.

Our first drive across the new Veterans Memorial Bridge in Palm City reminded me of an amusement park ride. Commonly referred to as the Indian Street Bridge, the Palm City side begins with a meandering access ramp that merges into the span. The roadway brings you across the St. Lucie River then swoops down onto the Kanner Highway exit ramp. Along the way you will be impressed with panoramic views of the river, the Palm City Bridge to the north, and Stuart to the east. The ride back offers spectacular views of Palm City.

On another visit we decide to take advantage of the walkway and strolled to the top of the bridge. From that vantage point you get a birds-eye view of Stuart, Palm City, and the natural beauty of the surrounding  area. Lots of folks had the same idea that day; we even ran into several acquaintances.

Over fifty years in the making, the bridge was designed for cars and pedestrians alike and is a success on both counts. Despite the controversy and protests along the way, the Veterans Memorial Bridge is an asset to Martin County.

FAQ: All Cash Home Purchase vs. Mortgage

Many of my clients (especially Baby Boomers who are downsizing or relocating) ask me if they should pay cash for their next house or finance it with a new loan. While the idea of owning a home free-and-clear is certainly appealing, I always present them with a series of questions to help them clarify the big picture. Perhaps you or someone you know may benefit from these as well:

How much will you be left with after an all-cash purchase? Maintaining a safety net of three to six monthsʼ worth of living expenses can be a real comfort after youʼve done well on the sale of your home. How comfortable will you be if an all-cash purchase brings you near zero?

Are you retiring soon? This goes to two issues: First, whether or not the absence of a mortgage will significantly improve your monthly position, keeping in mind youʼll still need to make insurance, tax payments, and maintenance. Second, if youʼre thinking about applying for a loan. It can be a challenge to qualify for a loan after youʼve retired, so if you think youʼll need a loan, it may be better to get it in advance.

Whatʼs your tax and income situation look like? For some people, the mortgage interest deduction on income taxes has a significant impact on their annual tax bill and overall cash flow picture. Itʼs always a good idea to consult with a financial professional before you “write off” the write off.

Might you need to help someone out in the near future? Sometimes having the liquidity to help family members or close friends in need is important. Are you planning to help someone else with a down payment on a home? Is it likely youʼll have to help a close friend or relative through a tough time? Having cash on hand can be a comfort.

How important is “free and clear” to your mind? For some, thereʼs nothing that compares to the idea of owning a home free and clear. Sometimes the feeling of “no debt” simply canʼt be overpowered by tax or liquidity benefits. Itʼs important to be honest with yourself, and if youʼve always dreamed of dodging a house payment, it could be the right emotional move.

For all of these reasons and more youʼll want to choose wisely before you go in for an all-cash purchase of your next home. Naturally, if you need any help selling your current home or looking for the next one, Iʼd be happy to help!

This post has been authored by Eric Slifkin, REALTOR® serving South Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Web site. As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad and I will research the property, arrange showings and handle all the details.

Keller Williams Realty Expanding to Palm City

In February, Charles Posess, operating principal of four Keller Williams offices, announced that he had purchased the former Bank Atlantic building at the corner of Matheson and Martin Downs Boulevard in Palm City and would open another Keller
Williams Business Center one day in the near future.

That day has arrived and the office — which is a satellite of the KW Treasure Coast Flagship Market Center in Stuart — is open and welcoming the public. Hal Frasier, longtime Palm City resident and one of the original agents on board when Keller Williams first opened in Stuart in April 2006, is heading up the new facility.

“Charles is planning renovations to our space of 4,500 square feet to bring it up to the quality of our 12,000-square-foot Market Center, which is located at 819 SW Federal Hwy, Stuart, in the Royal Palm Financial Center. More than176 agents work out of that state
of the art facility where we will continue to hold all our meetings and training,” Frasier said.

Cristi Hernandez, team leader and designated broker of the entire Treasure Coast Keller Williams franchise, oversees both locations. “The new office which is called a Business Center by KW International is a perfect answer to better serving Palm City residents and our agents who specialize in that part of Martin County. It is also just a short distance to the Becker Road section of Port St Lucie, so agents who work in that area can be closer to their listings,” Hernandez said.

The Keller Williams expansion continues into St Lucie West as Posess recently purchased the 6,800-square-foot building in PGA Village that Lang Realty has occupied since Lang bought Villager Realty LLC from The Kolter Group.

Posess plans on moving his KW St. Lucie West office, which is currently in rental space, to the PGA location in April 2014 after expanding that facility.

Gail Hovey is the team leader and broker of record in the St. Lucie Business Center and can be reached at (772) 200-9577, while Michael Brue is the general manager and oversees all of the Posess franchises and can be contacted at (561) 301-3287.

At the recent Keller Williams National Convention in Dallas, CEO Mark Willis announced that KW is now the largest real estate franchise by agent count in the United States. He also announced that Workplace Dynamics has named Keller Williams Realty as the No.9
workplace in America — the only real estate franchise company on the Top 150 Workplaces list.

“There are several reasons for our explosive worldwide growth, including the KW Profit Share plan, which treats agents as business partners,” he said. “Since Profit Share began in 1987, KW International has returned more than $4.6 million to agents throughout the system who have helped the company grow.”

To learn more about the unique Keller Williams business model or for a confidential interview contact, Cristi Hernandez at (772) 419-0400.

Source: YourVoiceWeekly.com

Stuart, Florida’s Ultimate Real Estate Search Engine

Eric Slifkin and his team of real estate professionals is proud to announce the release of our newly redesigned website. When we decided to update our flagship site, www.TreasureCoastHomeSales.com  (or TCHS), we upgraded our home search tools as well.

Our new site offers a turn-key approach to finding and purchasing real estate in Stuart, Florida and the Treasure Coast. Upgraded features include a more interactive search process, easier navigation, and a responsive design for mobile users. Our integrated blog pages also contain lots of great content  that enables you to  research and understand the Stuart area real estate market as well as local neighborhoods and communities.

Site Overview

For www.StuartHomeSearch.com users:

If you are registered at StuartHomeSearch.com we have transferred all your account information over, so you can immediately use all of the new site's features (you can still access your favorite listings and saved searches at StuartHomeSearch.com). To log in to your account, click the “Sign In” link, conveniently located in the upper right-hand corner of the home page. A prompt will then ask you to fill in your login information.

When logged into your account, you can review saved searches, edit the results, and adjust your listing e-Alerts. Search tags (filters) can be added or removed to your liking, which will narrow your results to more keyword specific terms. For example: neighborhoods, cities, and types of homes. When you are finished, make sure to save the search again if you made any changes.

New Features

• Our Suggestive Search Bar is one of the most powerful features on the new site. Whenever you type in a search query, the search toolbar will “suggest” a list of possible terms you’re looking for. It’s extremely helpful trying to spell a keyword or simply want to find related terms. Search results are also further divided into subcategories, which include: areas, neighborhoods, keywords, and schools. This way, you can identify what you're looking for in more detail and not be directed to results that are not relevant to your search.

• An upgraded "look and feel" further enhances our user’s experience. We've completely upgraded the site's look and feel, with an emphasis on the property rather than the number of listings. When you search for a home or area, you'll notice the high-quality photos of our listings and as much information as possible before navigating to another listing. In return, it saves you time from browsing around and you can collect more in-depth details about our properties. By clicking on the side arrows of the photos, you’ll easily be able to scroll through additional pictures of our listings. Bedrooms and living areas will be captured in high detail, so you won't be confused as to what the property offers. You will also find visual tools labeled “Quick Map” and “Local Pics.”  Quick Maps, lets you see where the property is located in relation to the area and even offers driving directions. The Local Pics tab is designed to show you around the neighborhood with additional photos to help you make a more informed decision.

• A word about our new blog:  In today’s real estate market, users are looking for more than just houses. They’re also looking for detailed information about home buying, home selling, neighborhoods or articles about home ownership and lifestyles. We now offer this information on TCHS together with our listings and search tools. Here you will find articles about local real estate, neighborhoods, and area attractions.

How can we help?

Need assistance? Let us help! Our agents have extensive knowledge of the current real estate market for homes in and around Stuart, Florida. Our area expertise and community knowledge ensures that you will see the best homes in the most sought after neighborhoods or communities. Get in touch and let me know how I, or a member of my team, can assist you.

This is an example blog post. You can post whatever you think your users may be interested in. Market conditions, area information, things about the buying and selling process are all good things to write about. Have FUN!!! You may even want to write about a certain area real estate community and what is going on in that real estate market.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.