Episode 1 - Forecasting for 2023

In this episode of The Money Experience, Kevin McGarry is speaking with Frank M. Betsch, the founding partner of Valley Financial Group. With over 42 years of financial planning experience, Frank has helped thousands of people retire.

The goal of this podcast is to uncomplicate money. The guys are looking at the predictions for 2023 and comparing them to historical data to come up with their own opinions on what the market has to offer in the upcoming year. This episode is wrapped up with advice on managing your finances.

To contact Kevin McGarry: kevin@valleyfinancial.com kevin@valleyfinancial.com

To schedule a free financial assessment, fill out the form below.

Almost everyone has the eventual goal of owning their own home, paying it off over the years as they raise their family and eventually owning it outright. You have total control of your property, whether it be for redecorating, remodeling or any other changes you wish to make, benefit from tax deduction advantages from your property taxes and mortgage payments, and you don’t have to worry about restrictions on pets or children that a renter may have to be cognizant of.

There are a few cons to consider also, with the homeowner being responsible for payments such as taxes, insurance, and repairs on top of their mortgage payments as well as the lack of flexibility if a move was required and the unpredictability of the housing market affecting the value of your new home. All that being said, buying a home is obviously still prominent aspect of the prototypical American dream, and it can be tempting to try to get ahead of the game by buying a house sooner rather than later. However, the reality is that while you may think getting a house and starting payments as soon as you can may be proactive, it can sometimes be counter intuitive to jump the gun. If you’re not quite ready to pull the trigger on a home, renting a house can be a viable option. The initial investment is normally substantially lower than when buying a home. Also, the renter has less responsibility, as the landlord is responsible for any required repairs and maintenance, along with having the flexibility to easily move from one rental to another if a better deal arises or a move is required.

At the end of the day, both renting or buying a home are viable options, and the best course of action will really depend on you’re unique financial situation. If you aren’t quite sure what the best fit for you is, schedule a sit down with your advisor and discuss any questions or concerns you might have about this process.

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