Want to retire and move out of Illinois? – Pick up your “Get Out of Illinois” Card

Plan now and minimize Illinois real estate risks

A few months ago, I was meeting with a client at my office. We were discussing her move to Florida and she said, “Illinois is a great state to be from!” As a former Illinois resident myself, I couldn’t agree more!

For the third consecutive year, the Land of Lincoln (aka Illinois) has lost more residents than any other state to the Sun Belt states. In 2015, over 22,000 Illinois residents left, my family of four included! In 2016, that number rose to 37,000. By most measures, Illinois will continue to see its’ population decline in the coming years. The alarming part of this exodus is that the people leaving the state are higher income earners who pay higher state income property taxes.

7 Technologies that will likely impact your life over the next few years

Which disruptive technologies could impact your financial life?

Key Takeaways

  • Disruptive technologies are things that disrupt the industry they are applied to, or that create a new industry altogether.
  • Seven disruptive technologies being developed today are new ways to expand internet access, 3D printing, drones, autonomous vehicles, robots, artificial intelligence, and augmented reality.
  • Being aware of these technologies and how they can affect you personally, helps keep you from being blindsided when the technology becomes a reality.

Are you thinking clearly about money?

5 Behavioral Finance Traps to avoid

Key Takeaways

  • There are some behaviors that occur in financial decision making that you want to avoid.
  • Narrow framing, confirmation bias, anchoring, short term emotions, and herd behavior, are five behaviors that can significantly impact your financial decisions.
  • If you have major financial decisions to make, gain clarity by talking over your thought process and options with a financial advisor.

Investable Collectables?

Key Takeaways

  • Collectable items are different from investable assets; collectables are just items whereas investable assets have an operating purpose.
  • Consider keepingyour hobby collection to under 5% of your investable assets.
  • If you decide to sell your collection, use an appraiser to ensure you know what your collection is worth in today’s market.