Home > Author Archives: Kim Parr

Author Archives: Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.

3 Things Homeowners Should Know About Homeowners Insurance

Homeowner's premiums and coverage options

This is a post from Tali Wee at Zillow.com. Enjoy! The process of buying a home is both exciting and detailed. Buyers must present their lenders with countless documents specifying their financial standing and reliability as borrowers. In addition to producing numerous documents, buyers must acquire homeowners insurance for the remainder of entire loan terms. Here are three important aspects of homeowners insurance that buyers and owners should understand. 1. Homeowners Insurance Is Required Lenders require borrowers to obtain homeowners insurance to ensure their investments are protected in case of unpredictable damages to properties or financial burdens to borrowers. As long as homeowners carry mortgages they are required to obtain basic policies. Buyers should shop around for the best insurance rates and personalized policies that suit their specific coverage needs. Most homeowners have highly-valuable belongings worth insuring. Buyers looking for discounts should contact their auto insurance providers for bundled insurance quotes. 2. Homeowners Insurance Protects More Than the Home Not only does homeowners insurance protect investments, it covers homeowners’ personal belongings, liability and protection against theft and natural disasters. Homeowners insurance can cover jewelry, clothing, furniture, bicycles, expensive equipment and other itemized possessions. Additionally, most homeowners insurance plans cover belongings ...

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Should I Contribute To A 401k, Roth IRA, Or Health Savings Account?

Choosing a 401k, Roth IRA, or Health savings account for retirement investing

This is not a post for someone who has never invested in anything. If that’s you, it’s time to start. Pick something easy like your work 401k or a Roth IRA. This post is for those who are trying to build wealth while minimizing taxes and fees.It also assumes that you have access to more than one type of retirement account and are eligible to have a health savings account. If that’s you, today I want to examine whether it’s better to invest in a 401k, Roth IRA, or HSA. While, ideally, we’d max out all those accounts ever year, realistically, many people have to choose where to put their money. All of that depends on your age, tax bracket, and how much you have to invest. 401k The 401k is maybe the easiest of the three. Generally, if you work for an employer who has a retirement plan, you’ll fill out enrollment forms, select which fund you want, and determine how much to contribute, up to $17,500 a year if you’re under age 50. People over 50 can add an additional $5500 per year in 2014. Even if you are self employed, you can still contribute to a solo ...

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Choice Hotels Credit Card Review

Free hotel in Manhattan

If you read some of the more popular travel blogs, you can find many ways to get free hotel nights. It seems that every blogger is looking for that aspirational redemption, using credit card reward points to stay in some of the most luxurious and expensive hotels in the world for pennies on the dollar. I certainly can appreciate that. After all, we recently returned from a visit to the Grand Hyatt Kauai. However, most of us aren’t frequent travelers. We don’t have international trips planned every other month, and we don’t necessarily value  luxury amenities like heated toilet seats and valet parking. In other words, we are looking for decent places to sleep that are close to our destination. We also don’t want to tip out the wazoo for someone to carry our bags and park our car. One of the workhorse hotel chains my family uses is the Choice hotel company. For those of you who are looking into free or reduced cost hotel stays, the Choice hotel credit card might be a good fit for your travel plans. Choice Hotel Family Choice hotels have a ton of properties all over the world. Their brand includes Comfort Inn, ...

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5 Life Changing Lessons From Billionaire Warren Buffett

How Warren Buffett became a billionaire

This is a post from Shelby at Investing Tips 360. Enjoy! There’s no doubt we could all learn a thing or two from Warren Buffett. He’s one of the most successful investors of all time with a net worth of $62 Billion. His company, Berkshire Hathaway, owns and operates a few of the largest corporations in the world, and he’s been starting and growing businesses longer than most of us have been alive. Lucky for us, Buffett has always been happy to share his opinion and advice over the years, which is quite well documented. You’ll find enough quotes from Buffett on everything from business, investing, and life to fill a book the size of an encyclopedia. Here are 5 of the most meaningful lessons we can take away from the life of Warren Buffett to help us be more successful at anything life throws our way. 1. Confidence breeds success “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren Buffett Confidence is key to success (some argue overconfidence is even better), and Buffett developed it at a young age. Next to his 1947 senior high yearbook photo ...

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Things To Consider Before Buying Rental Property

Before buying rental property

For anyone looking to develop multiple streams of income and build wealth, rental property can be a great addition to an investment portfolio. While it might not always be 100% passive,  real estate  is a great investment if you buy at the right time and are aware of potential issues that can and will happen. Here are some things to consider before buying rental property. Vacancies In a perfect world, there would be a waiting list for every rental property, but realistically, there will be periods of vacancy. Ways to avoid this include buying in a high demand area and making sure your rental price is appropriate for the type of property and location. Another thing to consider is that something major could happen to your property that might make it uninhabitable, like a natural disaster or damage from a bad tenant. It’s always a good idea to make sure mortgage payments are within what you can afford to cover without causing monthly finances to go into the negative. Repairs All property needs repair from time to time. While many landlords try to schedule maintenance between tenants, sometimes emergency repairs happen. In my opinion, a landlord should always keep an emergency fund ...

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