Living in the suburbs can be amazing, but it comes with its fair share of challenges. From loneliness to health issues, there are things that you can work towards improving so they don’t become an issue for you in the future. Here are three of the main areas in which you should invest for healthy suburban living.
1. Maintain Good Oral Health Care
Your oral health plays a major role as far as your general health goes, so ensure that you take good care of it. Visit your dentist on a regular basis so they can check out your teeth and gums and see if you need to adjust your oral health care routine. Of all adults aged between 20 and 64 years, 12% haven’t been to the dentist in the past five years. This can lead to a lot of problems as issues that could have been remedied early on will be left to fester.
If you find out that you need to get a procedure done, get it done as soon as possible so you don’t let it lead to other issues down the road. Taking good care of your oral health will enable you to have great overall health and this is why it’s important to do so.
2. Teach Your Teenager to Drive Safely
If you have a teenager in the house, you may be worried about their safety each time they drive somewhere. Do something about this by teaching them about road safety and refreshing the knowledge they got in driving school. Repeat anything that’s unclear to them so that there’s no doubt in your mind about whether they know what to do in different situations or not.
Don’t forget to share with them the consequences of breaking road rules in your specific state. For example, in New York, a first offense for getting caught driving while using your phone will cost you $200 in fines. It will also add five points to your license and consequently make your insurance rates go up. When they know things like these, they may be more likely to drive safely at all times.
3. Get a Pet
If your children are all grown up and are getting ready to leave the nest, you may find yourself feeling lonely as you no longer have the kids to fill your time as you did before. When this happens, it’s a good idea to get a pet to spend time with. This is especially true if your significant other is either working while you’re not, or your formerly busy work schedule has become more flexible. Take time to think about your ideal pet, whether it’s a cat or a dog, and then go out and get one. You could get a rescue and share your love with them because they need it the most.
If you get a dog, remember that, depending on the feeding schedule you follow, you might consider splitting the amount of food you give them each day into two to three meals. This will allow them to consume enough food at each time to remain healthy and happy and promote digestion. Don’t forget to give them opportunities to get regular exercise by taking them for walks and playing with them. Visits to the vet for vaccination and treatment are also important to ensure that they’re always in good health.
When you invest in these three areas of your life, you will improve your suburban life. You will also help your family to enjoy the best that living in the suburbs has to offer as you share each new day with them.
If you are nearing retirement age and dream of a quiet life away from the city, here are a few things to check before retiring to the suburbs in 2022.
5 Things To Check Before Retiring to the Suburbs in 2022
1. Your Budget
Financial Plan
The first thing you need to check before retiring to the suburbs in 2022 is your financial plan. Have you reached your long-term goals? Have you accounted for inflation and market fluctuations? Are your assets protected? You want to make sure you are ready to stop working before you jump into retirement.
This means you’ll have to be realistic about what you can afford. You should also pay off all your debts before you retire so you don’t deplete your savings. And, you need to make sure that you will have enough income to cover your living and medical expenses. If you aren’t sure if you are ready to fully retire, discuss it with your financial planner.
Cost of Living
Since you will be living on a fixed income, you want to maintain a low cost of living. If the home you are currently in is too much of a financial burden, it may be time to downsize. Moving to a smaller home can drastically reduce your monthly expenses. However, you may also consider relocating. Retiring to the suburbs around San Francisco, New York, or Honolulu is going to require a much larger nest egg than places like Fort Wayne, IN, or Toledo, OH.
Taxes
Although federal taxes are an unavoidable fact of life, not every state collects taxes from its retired population. In fact, seven states don’t levy any taxes on personal income (Alaska, Florida, Nevada, South Dakota, Texas, Washington, Wyoming). For those looking for the cheapest places to live, compare which states and counties have the lowest property taxes. This will give you a good indication of the general cost of living in the area.
Furthermore, those with chronic conditions may need to see specialists or require access to the latest medical technologies. So, you’ll need to be close to a hospital that has cutting-edge facilities if you require frequent trips to the doctor. The trade-off for these conveniences is living in more expensive urban areas. If you have a serious medical condition, this should be a consideration before moving to the suburbs in 2022.
Safety
Another health concern many people overlook is personal safety. Living on a fixed income means that cost is a primary concern. But, you shouldn’t sacrifice your safety to save money. Unfortunately, cheaper housing is usually located in more dangerous neighborhoods which could affect your well-being. Therefore, you should eliminate low-cost neighborhoods that have high crime rates. You can learn more about local crime rates from your police department or by searching crime maps of the area.
3. Proximity
Transportation
One significant disadvantage of retiring to the suburbs in 2022 is the distance and drive time it takes to get places. However, if you are perfectly happy to get out of the city, you may not need a car for daily commutes. Many suburban areas are gaining greater access to stores, restaurants, parks, and other amenities. Not only does this offer more convenience, but it also means less driving.
It encourages you to walk more which is a great way to stay active, fit, and get the most out of your neighborhood. However, you should consider proximity to public transportation if want to sell your car and plan to stay there through your retirement years. Even if you keep your car, you may lose the ability to drive someday. But, being close to public transit will allow you to stay mobile. For those moving further away from their family, it’s a good idea to look for places near the local airport.
Proximity to Family
Do you want to spend more time with your family after you retire? Or, do you want to head for the hills in search of a more peaceful life? Familial connections can be crucial as we get older. But, dysfunctional families can also create more stress. Whether you want to be nearby or as far away as possible, proximity to your family is another consideration when you retire.
4. Lifestyle
Culture
The kind of lifestyle you lead is also an important consideration. Think about what kind of social life you want to have and how you will spend your free time. Are you ready to move away from the bustling city center for the quiet life of the suburbs? Do you plan to participate and socialize at local senior centers with classes, game nights, or other events? On the other hand, if you want to take in the culture of your city, you should look for neighborhoods closer to museums, galleries, theaters, and other attractions.
Climate
While cost and location are both important factors, you shouldn’t forget about the climate. Most retirees want to live somewhere where they will be comfortable year-round. For some seniors, this means they are willing to leave places with extreme temperatures to pass their golden years in more comfort. If you are relocating, you will also want to avoid places that are prone to natural disasters.
Getting Back to Nature
If you are an outdoor enthusiast, you’ll want to find somewhere that provides easy access. Many suburbs offer great hiking and biking trails or proximity to beaches, lakes, and mountains. Moving somewhere that allows you to easily enjoy your outdoor hobbies promotes strong physical and mental health as you get older.
Rules and Regulations
Although living in a community provides many benefits and services, homeowner associations and city ordinances can create huge headaches. First, there are the fees to account for. Then, there are the local laws and regulations you must comply with. Some cities and neighborhoods have strict ordinances that require extensive paperwork for any construction projects. Make sure you understand the bylaws of where you want to live. Being at odds with the local governing body could turn your suburban paradise into a nightmare.
5. Personal Happiness
Ultimately, the most important thing to keep in mind before retiring to the suburbs in 2022 is your personal happiness. Think about what is most important to you and where you will be the most content spending your final years.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
Along with making resolutions, many investors also look for emerging opportunities in the new year. However, one industry that has grabbed people’s attention is leisure and recreation services. Not only have businesses in this sector shown significant increases, but there are diverse investment options since it includes a wide array of interests such as sports, media, art, travel, etc. Although it’s had a history of rises and falls, the current trend has shown continual growth. Demand for new types of leisure and entertainment has grown during the pandemic, leading to new innovations, technology, and business models. And, it is attracting a lot of attention from important investors due to the ample business opportunities. If you have an innovative idea or have a business you would like to invest in, here are 5 reasons why you should invest in leisure.
What Does Leisure Include
The broad definition of “leisure” applies to any activity done when not working. When it comes to investing, the leisure industry is the market sector that focuses on entertainment, recreation, tourism, and sports. As you can probably guess, there are multitudes of businesses that fall under this category. And, there are more popping up every day as technology advances and the sector continues to evolve.
But, how does what you do in your free time apply to investing? All you have to do is look around your community. There are leisure and entertainment venues everywhere. Traditional leisure venues include retail stores, restaurants, bars, health clubs, sports complexes, movie theaters, amusement parks, casinos, and concert halls, just to name a few.
For conservative types, there are well-established stocks in airlines, hotels, and theme parks that have a strong performance history. However, there are also several gaming companies, streaming services, and social media platforms that also promise good returns on your investment. And, there are new entertainment options introduced to the market every day. Thanks to the internet and trading apps, the market is even more accessible to investors.
Reasons Why You Should Invest in Leisure
When choosing a sector, you’re probably asking yourself which ones are projected to see the most gains. There are endless strategies and theories out there. However, here are 5 tangible reasons why you should invest in leisure.
1. The Leisure and Recreational Services Industry currently ranks in the top 27% of all industries.
As any sound financial advisor will tell you, do your due diligence. You should always evaluate past and current market performance before you buy into any stock. Luckily for those who are short on time, online resources like Zacks compile and compare the most recent data for you.
According to their analysis, stocks in this sector are expected to outperform the market in the next 3-6 months. They also provide a convenient list of their top-ranked stocks. Resources like this make it easier to come to a decision, especially when picking individual stocks. It also shows which markets currently attract the most consumers for those interested in new ventures.
2. Analysts expect leisure stocks to see a significant rebound.
With the outbreak of Covid-19 and the ensuing pandemic, the entire stock market has taken a dive. Undoubtedly, the leisure travel industry was one of the hardest hit. As businesses closed and social distancing measures were enforced, stock prices continued to plummet. But, there is hope on the horizon as businesses re-open and adapt to the new normal. Although the spread of the latest variant threatens to cause another sharp decline, analysts expect leisure spending to double by 2030.
People have become restless being cooped up, and are looking for entertainment outlets. While we have been sitting at home, many of us have also managed to build our savings. The Bureau of Economics reported that the average personal savings hit a record high of 33.7% back in April 2020. Then, March 2021 showed an additional increase of 27.7%. This bodes well for the leisure and recreational services industry.
3. The world’s population is getting richer.
As Engel’s Law indicates, when a person’s income increases, they spend less on basic necessities and more money on other goods. Despite recent economic hardships, the world’s population has never been wealthier. Of course, there are large variations between different countries and individual households. But, people today have more expendable wealth than ever before.
The most difficult question to answer is how people are going to spend their discretionary funds. However, there will always be the human need for recreation and entertainment. Therefore, it isn’t unreasonable to assume that the more people earn, the more likely they are to spend their extra money on leisure.
4. The industry offers diverse investment options.
When you look at the entertainment industry, it includes a wide range of businesses and services. This diversity is one of the most attractive features of this sector. Not only does it encompass all the businesses who provide services, but also those which cater to the needs of the customers spending money on entertainment and recreation services. New businesses that can meet these needs the fastest and most efficiently will see the most success.
With the myriad of investment options, leisure-focused ETFs are a great way to help your portfolio gain exposure to this market. These ETFs offer baskets of leisure stocks, mitigating the risks of choosing individual stocks. Meanwhile, you also get a random sampling and can gauge which companies have the potential to yield a higher return.
5. Leisure businesses have been quicker to adapt.
Since fewer people are frequenting public places, leisure businesses have to adapt quickly in order to survive. Therefore, they had to fully embrace technological advances to keep up with people’s changing lifestyles. However, it has also set them as some of the most dynamic and innovative companies in the market. Their flexibility to meet the demands of all consumer groups and provide more mediums to connect with them provides a huge advantage and promising investment opportunities.
Trending Businesses Opportunities to Invest in Leisure
. Whether you are seeking to invest or start your own business, there are new niches being carved out. These areas have attracted focused attention:
Play Zones
Art Galleries
Advertising Agency
Sports Shop
Online Retail
Streaming Services
Media
Digital Marketing
Resorts and Hotels
Golf Courses
Multimedia Companies like Disney
Leisure-focused ETFs
The market is ripe with potential. However, the rising tide won’t lift all boats equally. Before making any major financial decisions, you should always consult with your financial advisor. But if you are looking for new opportunities, you should consider to invest in leisure.
Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
