The Perfect Storm for Retirees

Today’s retirees are unlike any other retirees in history: They’re living longer, and many of them want to spend more in retirement than previous generations. At the same time, the fear of running out of money is incredibly common, and for good reason.

The bargain made decades ago in the transition from defined benefit pension plans to the modern 401(k) gave workers control over their savings but also transferred longevity risk from the employer to the worker. As such, these days few retirees can rely on a significant pension and must make their savings last for decades. This may be even more difficult considering that we could see persistently low interest rates, higher inflation and market volatility in the coming years.

The result? Today’s retirees could face a perfect storm, and they may have to use different financial planning strategies than retirees of the past.

Low Interest Rates

The Federal Reserve recently announced that it would maintain the target federal funds rate (the benchmark for most interest rates) at a range of 0% to 0.25%. The Fed cut rates down to this level in March of last year in hopes of combating the crippling economic effects of the pandemic, and it may not raise them for years. Interest rates are expected to stay where they are until 2023. Even when they rise, they could stay relatively low for some time.

As the U.S. government borrowings increase dramatically, the motivation for holding rates down increases. This combination works in favor of immense government borrowing, but for retirees it creates an intrinsic tax in the form of persistently low rates paid on savings. Borrowers love low rates as much as savers detest them. This truth is very much in play today. This poses a problem to retirees who want to earn a reasonable rate of return while minimizing their investment risk.

The Potential for Inflation

Coupled with persistently low interest rates, retirees could face increased inflation in the coming years. Government spending increased significantly due to COVID, with the CARES Act costing $2.2 trillion and the American Rescue Plan Act costing $1.9 trillion alone. The Federal Reserve has said that there is potential for “transient” inflation in the coming months and that it would allow inflation to rise above 2% for some time. While most experts don’t think it’s likely that we’ll return to the high inflation rates of the 1970s, even a normal inflation rate is cause for concern among those nearing and in retirement. Over the course of a long retirement, inflation can eat away at savings significantly.

Consider this: After 20 years with a 2% inflation rate (the Fed’s “target” interest rate), $1 million would only have the buying power of $672,971.

The combination of low interest rates and higher inflation may drive many retirees to take on more market risk than they normally would to account for that.

Market Risk

Those nearing retirement and recently retired can expose themselves to sequence-of-returns risk if they take on too much market risk. This is when a portfolio experiences a significant drop in value while the owner is withdrawing funds, owing to nothing more than unlucky timing. This risk is actuated by the timing of the age of the individual retiree and when they plan to retire, not something anyone usually times around market levels or investment performance but rather around lifestyle or even health factors. As a result, often the portfolio cannot fully recover as the market bounces back, due to the burden of regular withdrawals, and may be left significantly reduced.

Today’s retirees live in an uncertain world with an uncertain market. No one could have predicted the pandemic or its economic effects, and similarly, no one can predict where the market will be next year, in five years or in 10 years. While younger investors can ride out periods of volatility, retirees who are relying on their investments for income may have significantly lower risk tolerance and need to rethink their retirement investment strategy.

Is There a Solution?

This leaves many retirees in a perfect storm. They need to make their savings last longer than any previous generation, but with interest rates at historic lows, they may feel pressured to subject their savings to too much market risk in hopes of earning a reasonable rate of return. The most fundamental step to take is committing to regularized, frequent reviews with your financial adviser. Depending on portfolio size and complexity, this is most often quarterly, but should be no less frequent than every six months. This time investment keeps retirees attuned to shifts in the portfolio that will sustain them for decades to come.

Finally, consider the breadth of options available to your adviser, or on the retail platform you use if you are self-managed. Sometimes having the right tool is everything in getting the job done.  Often advisers have a greater breadth of options available that can more than offset their cost. Remember there are options beyond equities. The best advisers have access to guaranteed income insurance products, market linked certificates of deposits and other “structured assets.” This basket of solutions can provide downside protection ranging from a buffer of say 10%-20% all the way to being fully guaranteed by the issuing insurer or commercial bank. Even within the markets themselves, there are asset managers who create stock and bond portfolios that focus on a specific downside target first, emphasizing downside protection above growth right from the start.

Although market risk remains, it’s true that by focusing on acceptable downside first, those portfolios are likely to weather downturns better even if they do surrender some upside as an offset. And while none of these approaches is perfect, they can work as a component to offset a portion of the market risk retirees probably need to endure for decades to come.

The article and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you consult your accountant, tax, or legal advisor with regard to your individual situation. Securities offered through Kalos Capital Inc. and Investment Advisory Services offered through Kalos Management Inc., both at 11525 Park Woods Circle, Alpharetta GA 30005, (678) 356-1100. SouthPark Capital is not an affiliate or subsidiary of Kalos Capital or Kalos Management.

CEO, SouthPark Capital

George Terlizzi has worked in business for more than 25 years as an entrepreneur, consultant, dealmaker and executive for early and mid-stage companies. He has substantial concentrations in finance, technology, consulting and numerous forms of transaction work. Today George advises wealth clients individually and sets the strategic vision for SouthPark Capital. George’s insatiable curiosity, action-oriented approach, and broad-ranging interests are invaluable to those he advises.

Source: kiplinger.com

16 Best Ways to Save Money at Pottery Barn in 2021 – Discounts & Sales

If you’ve ever gone shopping for home decor, furniture, and bedding, you’ve probably visited a Pottery Barn.

The Williams Sonoma subsidiary is best known for its upscale products and stunning floor displays. Since its founding in 1949, Pottery Barn has branched out into Pottery Barn Kids and Pottery Barn Teens to appeal to a wider audience.

Despite these changes, Pottery Barn has always maintained a premium status for their brand. But if you’re shopping on a tight budget, there are numerous creative ways to save money at Pottery Barn.

Between in-store hacks and ways to save money on furniture and home furnishings, you probably don’t have to pay full price when you hit up this popular retailer.

Best Ways to Save Money at Pottery Barn

Pottery Barn is unlikely to compete on pricing with more affordable retailers like Ikea. But you don’t have to pay full price just because a store is stylish.

Many money-saving Pottery Barn hacks can help you make your next home furnishings upgrade affordable without sacrificing quality.

1. Join The Key Loyalty Program

The easiest saving trick every shopper can use is to join The Key member rewards program. This loyalty program extends to Williams Sonoma’s family of brands, meaning it covers Williams Sonoma and Pottery Barns along with Mark and Graham, and West Elm.

Joining The Key is free. You start by picking your favorite brand and then sign up for The Key through that brand’s website. To sign up, provide your name, email, address, phone number, and birthday.

Once you’re a member, benefits include:

  • Earring 3% cash back across the family of brands
  • Getting exclusive access to new deals and releases
  • Using Pottery Barn and Williams Sonoma’s free design service

You can redeem cash back as store credit across any Williams Sonoma family store once you reach $15. You can use cash-back rewards from The Key program with your cash-back credit card rewards to increase your savings, and you can redeem your balance online or in-store.

2. Follow Local Stores on Social Media

You can follow Pottery Barn on social media if you want general updates about sales and country-wide initiatives. However, truly frugal shoppers are better off following their local stores.

Local store pages are useful for several reasons. For starters, you can reference them to find store hours or a contact number and to check whether the store’s open on holidays.

Additionally, local stores post photos of their inventory and sales. That’s when you can find specific pieces on clearance or products that are only in stock at your preferred location.

But note that not every Pottery Barn has a local Instagram, Facebook, or Twitter.

3. Sign Up for Pottery Barn Emails

If you want a low-effort way to save, sign up for the Pottery Barn email list.

Subscribers receive information about exclusive sales and promotions, so you can wait for a sale or event before you shop. You also learn about new Pottery Barn products and upcoming store events.

4. Use Online Pottery Barn Coupons

Another trick to save money at Pottery Barn is to use online coupons.

There are numerous online coupon databases you can search for deals, including:

These websites let you activate online coupon codes before shopping, potentially earning percent discounts and perks like free shipping.

Similarly, you can also use shopping browser extensions for online shopping to automatically apply available coupons at checkout. Two popular browser extensions that work with Pottery Barn are Capital One Shopping and Honey.

Both extensions apply coupon codes at checkout, ensuring you don’t miss out on savings. Both platforms also let you earn rewards by shopping at hundreds of partner retailers.

An advantage of using extensions over coupon websites is that you don’t waste time manually searching for coupon codes on the Internet. However, it’s important to note that coupon codes don’t always work, and you might find a particular website or extension works better for you than others.

Capital One Shopping compensates us when you get the Capital One Shopping extension using the links we provided.

5. Shop With Discount Gift Cards

If you shop at Pottery Barn frequently or are planning a shopping spree, buying discount gift cards is a simple way to save more money.

People regularly sell unwanted gift cards to marketplaces that then resell them at a discount. Usually, discounts range from 1% to 2%, so you can buy a $50 Pottery Barn gift card for around $48.

That’s not a lot, but for larger purchases, discount percentages often increase. For example, on some discount gift card websites, you can find $100 and $500 Pottery Barn gift cards with $10 to $20 discounts.

Some popular gift card marketplaces include:

Gift card availability and denominations vary based on supply and demand. Raise generally has the most extensive collection, and you can usually find Pottery Barn gift cards ranging from $25 to $100.

Plus, new members get a 10% discount bonus with the coupon code “FIRST” for a maximum savings of $20.

Since more significant discounts provide the most savings, the key is to plan your Pottery Barn shopping trip. That way, you know exactly how much money you need and don’t overspend on gift cards.

6. Understand Shipping Rates

At Pottery Barn, shipping costs depend on your total order price and whether you want standard shipping or next-day shipping. Standard shipping arrives in four to five business days and upgrading to next-day costs $26.

To potentially save more, consult Pottery Barn’s shipping rates and fees table. For orders under $200, you’re looking at up to $21 in shipping fees. However, orders of $200.01 or more charge 10% in shipping until you reach $3,000 or more, at which point shipping costs drop to 5% of your total order value.

If you’re on a massive Pottery Barn shopping spree, consider what a 5% or 10% shipping rate does to your bill.

For example, at $2,900, you’re looking at $290 in shipping costs. However, spending $100 more to reach $3,000 brings shipping costs to $150, netting you $40 in total savings.

If you’re close to a shipping-reduction threshold but don’t need anything else, ask friends and family if they need anything or think about any upcoming gifts for birthdays and holidays. But crunch the numbers.

If buying a low-cost product still saves you significant cash, it’s worth it. You can always donate unwanted merchandise and get a charitable donation tax deduction. Just check the sale and clearance section for deals.

Finally, look for products that are available for pickup when shopping online. If you live near a Pottery Barn, making the drive is probably worth it to avoid paying for shipping.

7. Shop on Clearance

If you want to find Pottery Barn products at a discount, your best bet is to wait for a clearance sale or floor sales event.

Pottery Barn’s website has a sales section, so you can begin your search for deals online. But visiting your local Pottery Barn allows you to find markdown products the retailer doesn’t advertise online.

Occasionally, Pottery Barn also sells floor models during floor sales events. That includes furniture and other inventory previously used for in-store displays, which the company can’t sell as new. This inventory often has minor scratches or dents but is sold at a discount.

If you don’t mind buying furniture with a potential scratch or two, floor sales are worth keeping an eye on. Alternatively, check the online clearance section regularly to look for deals.

8. Shop Off-Season

Chances are you’ve tried shopping off-season to save money on clothing or back-to-school supplies. But have you ever considered shopping off-season for home decor?

Like other retailers, Pottery Barn rotates their floor displays and inventory to match the upcoming season. So you can buy a set of summer linens and bright throw pillows as you enter the fall to save money in the long run.

9. Visit a Pottery Barn Outlet Store

Pottery Barn has several outlet stores where you can find floor models, returns, overstocked inventory, and slightly damaged or worn inventory it can’t sell in regular stores.

Essentially, outlet stores help Pottery Barn liquidate excess and gently used merchandise, which means you can potentially find discounts.

Currently, the following states have one or more outlet locations:

  • Arizona
  • California
  • Georgia
  • Illinois
  • Massachusetts
  • Michigan
  • Missouri
  • New York
  • Ohio
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia

Just remember: Outlet prices aren’t always lower than the regular retailer, and you should also factor travel time into your bargain hunt. When in doubt, call ahead and ask for specific pricing on pieces you’re considering and for a store attendant to check product availability.

You can also sign up for Pottery Barn Outlet emails to receive outlet store-specific newsletters about new product arrivals and deals.

10. Buy Gently Used Pottery Barn Products

If you don’t live near an outlet, you can shop at companies that resell used and like-new Pottery Barn products at lower prices.

Several websites where you can find used Pottery Barn products include:

You can also shop on auction sites like eBay if you don’t mind bidding and potentially negotiating with sellers.

Selection can be limited when looking at resellers, but the effort is worth it if you find your next living room set or coffee table for half the price.

11. Use the Pottery Barn or Other Cash-Back Credit Card

The Pottery Barn credit card is perfect if you’re a serious Pottery Barn shopper. There are zero fees and plenty of perks. For example:

  • Earn 10% back for shopping at Pottery Barn, Pottery Barn Kids, and Pottery Barn Teens when you spend $250 or more on a single purchase.
  • Receive early access to sales, limited-edition collaborations, and information on new arrivals.
  • Shop for $0 down with 12 months of financing on purchases of $750 or more.

The 10% back in reward points is the primary selling point for this card. For example, if you spend $3,000 redesigning your living room, that’s $300 in rewards — not bad for a no-fee credit card.

However, you must spend $250 in one transaction to get the reward, which severely limits the usefulness of this card if you don’t spend much money on your Pottery Barn trips.

If that’s the case, shop with some type of cash-back credit card to maximize savings.

Cards like the Chase Freedom Unlimited® (read our Chase Freedom Unlimited review) and American Express Blue Cash Preferred® card (read our American Express Blue Cash Preferred review)  are excellent options that have welcome bonuses and cash-back rewards for everyday spending, making them a better choice if you don’t frequently shop at Pottery Barn.

12. Take Advantage of the Military Discount

If you’re an active military member or veteran, you and your family can take advantage of Pottery Barn’s 15%-off military discount. This discount also applies to Pottery Barn Kids and Teens as well as Williams Sonoma.

Plus, military members also get 10% off on electronics at Williams Sonoma.

13. Create an Online Registry

If you have an upcoming wedding or want to save money on newborn expenses, Pottery Barn has registries you can use to save money.

The Pottery Barn wedding registry helps your wedding guests shop for gifts you’re actually going to use. Plus, you can add products from any retailer in the Williams Sonoma family of brands to a single registry.

You can also ask a registry expert to help you craft a registry list that suits your style.

After the wedding date, you get a 10% completion discount for up to six months, meaning you have six months to buy out the remaining merchandise on your registry at a discount.

The baby registry from Pottery Barn Kids works the same way, except you get a 20% completion bonus.

14. Save on your New Move

Paying for moving supplies to pack and ship all your stuff adds up fast.

Thankfully, Pottery Barn has several incentives to help keep moving costs down. For starters, you get $15 off when you spend $75 or more on Sherwin-Williams paint.

Since 2 gallons of Sherwin-Williams paint typically costs between $75 and $150, depending on the paint type, that’s generally enough to paint an average-size room if you’re applying two coats.

Note that Sherwin-Williams is on the pricier side, so unless you’re in love with one of its colors or need high-quality paint to cover up darker colors, brands like Behr and Valspar are typically more budget-friendly.

You can also sign up for the New Mover Program to receive a welcome catalog and design advice for your new home. Pottery Barn also offers free design services to new movers.

However, the best part of the moving program is the installation service. The retailer can mount your TV, hang curtains, paint your new home, and assist with other installation and assembly for a small fee.

First, verify the Pottery Barn in your area offers this service. Then get a quote and compare the price to hiring another professional or doing the work yourself.

15. Use the Pottery Barn Employee Discount

Pottery Barn employees get up to 40% off regularly priced merchandise and an additional 20% off on clearance. So if you’re looking for a side gig and have a redesign project coming up, applying to Pottery Barn could be worth it.

Plus, you can use the extra money to help pay for your upcoming project and take the sting out of paying for it with your regular paycheck.

The Williams Sonoma family of brands hires throughout the year, especially during the holidays, so keep an eye out for job postings if you’re considering this saving trick.

16. DIY Pottery Barn Knockoffs

Crafty shoppers might be better off getting creative than paying higher prices for official Pottery Barn items.

If you’re open to a DIY project, start by searching for Pottery Barn knockoffs on Pinterest. A single search yields hundreds of knockoff ideas, tutorials, and decor ideas you can use to transform your home while staying on budget.

Some design bloggers also focus on knockoff DIYs. Knock Off Decor has a category that’s full of Pottery Barn DIY projects that can save you money.

Often, these projects involve purchasing more affordable materials from places like the dollar store or a local hardware store. Some projects simply involve upcycling existing pieces of furniture to match Pottery Barn’s aesthetic.

Just remember to consider your time and level of experience before taking on a DIY project. If you can score massive savings and enjoy working with your hands, the knock-off route is one of the best ways to decorate your home on a budget.

But if you’re busy or just all thumbs, it’s probably a waste of time.


Final Word

Saving money and scoring discounts probably aren’t the first things that come to mind when you think of Pottery Barn. But it’s possible.

However, you should still shop around, especially if you have a massive home renovation project coming up. Retailers like Wayfair, Overstock, Crate & Barrel, and even general retailers like Target often carry cheaper alternatives to Pottery Barn products.

You might have to get creative and mix and match products from different retailers to achieve that Pottery Barn aesthetic. But if shopping at Pottery Barn alternatives saves you money and matches your design vision, it’s worth the effort.

If you’re committed to Pottery Barn, give yourself as much time as you can when planning your home makeover. If you can wait a few months for a clearance event or for specific pieces to go on sale, you can furnish your home with high-quality furniture and home decor without spending a fortune.

Source: moneycrashers.com

Obama Slashes Costs for FHA Streamline Refinances to Boost Market

Last updated on August 29th, 2018

In another effort to buoy the flagging housing market, the Obama administration announced today that it would essentially be removing the upfront mortgage insurance premium on streamlined FHA refinances.

So homeowners who currently hold an FHA loan, looking to refinance into another FHA loan to lower their mortgage rate, will pay just 0.01% in upfront mortgage insurance premiums.

This represents a huge discount compared to the 1% upfront premium currently charged.

The annual mortgage insurance premium will also be slashed in half to 0.55%, which together with the upfront premium reduction is estimated to save the average FHA borrower roughly a thousand dollars annually.

In order to qualify for the new program, your FHA loan must have been originated prior to June 1, 2009.

The Obama administration believes about 2-3 million FHA borrowers will be eligible to benefit from this initiative, but only time will tell how many are really helped.

Are Future Homeowners Eating the Cost?

While this is great news for those who currently hold FHA loans, it makes you wonder if future homeowners will wind up paying for it.

Last week, the FHA announced that it would be raising upfront mortgage insurance premiums from 1% to 1.75%, beginning in April.

Additionally, the agency said it would raise the annual mortgage insurance premium by 0.10 percent for loan amounts under $625,500, and 0.35 percent for loans between $625,500 and $729,750.

The measures were taken to meet the congressionally mandated minimum for the FHA’s Mutual Mortgage Insurance (MMI) fund, which has been depleted thanks to all the recent losses on bad loans. It is expected to boost the fund by $1 billion through fiscal year 2013.

So essentially first-time homebuyers and other current homeowners who do not hold FHA loans will pay a premium to take out an FHA loan.

It seems like a bit of a shift in wealth, though it will likely result in fewer new homeowners going to the FHA for mortgage financing, which is probably the end goal.

The FHA exploded in popularity in recent years as subprime lending fell by the wayside, but the agency bit off more than it could chew. So this is likely a bid to return to a more normalized mortgage market funded by private capital.

[FHA loan vs. conventional loan]

Still, it seems a little unfair for those who don’t hold FHA loans, regardless of what good it may do.

But if you have an FHA loan, this is a great time to inquire about a streamline refinance to lower your mortgage rate and your monthly mortgage payment, without being subject to steep closing costs.

Reviewing Servicemember Foreclosures

The White House also announced that it will conduct a review of all servicemembers foreclosed on since 2006 to identify any wrongdoings.

Those found to be wrongly foreclosed on will receive compensation equal to a minimum of lost home equity, plus interest and $116,785, paid for by the nation’s top loan servicers, who were involved in the National Mortgage Settlement.

Additionally, those who were wrongfully denied a refinance will be refunded any money lost as a result.

And those who were forced to sell their homes for less than the mortgage balance due to a Permanent Change in Station will also be provided with some form of relief.

Finally, the major loan servicers will pay $10 million into the Veteran Affairs fund, which guarantees funding for the VA loan program, and certain foreclosure protections will be extended to prevent future failings.

About the Author: Colin Robertson

Before creating this blog, Colin worked as an account executive for a wholesale mortgage lender in Los Angeles. He has been writing passionately about mortgages for 15 years.

Source: thetruthaboutmortgage.com

10 Cities Near Seattle To Live in 2021

With its natural beauty and laid-back culture, there are many excellent reasons to move to the Seattle area. But the city has seen rapid population growth in recent years, along with an increased cost of living — causing a drawback for some. Fortunately, there are plenty of cities near Seattle that offer fantastic alternatives for every lifestyle.

Whether you’re looking for a safe suburb to raise a family in, a home base for outdoor excursions or a hip neighborhood with a thriving nightlife, there’s a city that offers what you’re looking for, all without traveling more than 30 minutes or so outside downtown Seattle. Consider adding the following places to your list.

Kirkland, WA. Kirkland, WA.

  • Distance from downtown Seattle: 11.1 miles
  • One-bedroom average rent: $2,069 (down 3.1 percent since last year)
  • Two-bedroom average rent: $2,521 (up 5.8 percent since last year)

Located on the Northeastern shore of Lake Washington, Kirkland offers easy proximity to downtown Seattle combined with a wooded, suburban feel. Many families find Kirkland appealing as an alternative to Seattle. They can find more space, excellent schools and the opportunity to live close to an urban center.

The city of Kirkland is on the waterfront. Its popular public parks on the lake offer opportunities for boating, swimming and beach volleyball. It also showcases a picturesque collection of restaurants and shops, perfect for an evening out.

Commuters to Seattle will enjoy a short drive into downtown, or you can choose the excellent public transit connections.

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Redmond, WA. Redmond, WA.

  • Distance from downtown Seattle: 15.3 miles
  • One-bedroom average rent: $2,141 (down 7.3 percent since last year)
  • Two-bedroom average rent: $2,712 (down 5.8 percent since last year)

Redmond is perhaps best known as the home of Microsoft. A resulting concentration of tech talent has attracted other tech companies as well as their employees, creating a diverse community of young professionals and families.

Redmond is sprawling and spacious, with wide sidewalks and plenty of trees. Many streets have bike lanes and paved bike paths connect to other nearby cities.

The city is in a beautiful natural setting and is home to Marymoor Park, which hosts outdoor concerts and features dozens of sports fields and a climbing wall.

Redmond also has excellent schools and a pleasant, walkable downtown core with many shops and restaurants.

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Des Moines, WA. Des Moines, WA.

  • Distance from downtown Seattle: 14.9 miles
  • One-bedroom average rent: $1,425 (down 1.4 percent since last year)
  • Two-bedroom average rent: $1,767 (down 1.8 percent since last year)

Des Moines is a quiet, affordable waterfront city located midway between Seattle and Tacoma along the Interstate 5 corridor. The municipality stretches along the water, with many options for stunning views of Puget Sound.

The small downtown includes some great restaurants and waterfront walks, with plenty of nearby trails and parks that offer hiking, biking and even camping.

Des Moines is on a rapid transit line that makes it easy to access nearby SeaTac and the Seattle-Tacoma International Airport or commute south to Federal Way or Tacoma.

The city will appeal to families and young professionals seeking an affordable option without sacrificing livability.

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Issaquah, WA. Issaquah, WA.

  • Distance from downtown Seattle: 17.2 miles
  • One-bedroom average rent: $2,013 (down 13.0 percent since last year)
  • Two-bedroom average rent: $2,389 (down 14.7 percent since last year)

The city of Issaquah spreads from the Sammamish Highlands down across the valley and into the hills known as the Issaquah Alps. Homes on these hills have beautiful views of the valley, while those in the lowlands are close to the quaint downtown core, which offers restaurants, cafes and many shopping options.

A dispersed, suburban city with an excellent school system, Issaquah has long been a popular choice for families. Recent development has also added housing choices for young, single professionals seeking an option outside the city.

There are plenty of outdoor recreation opportunities in the area, including hiking and mountain biking trails at the popular Tiger Mountain. Close enough to the wilderness for the occasional cougar sighting, Issaquah is also near enough to Seattle for an easy commute along Interstate 90.

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Sammamish, WA. Sammamish, WA.

  • Distance from downtown Seattle: 21 miles
  • One-bedroom average rent: $1,665 (up 1.0 percent since last year)
  • Two-bedroom average rent: $1,945 (down 2.5 percent since last year)

The Sammamish Plateau is known for world-class golf courses, but that’s not all it has to offer. This city to the east of Seattle frequently appears on best-of lists for livability, yet it is still more affordable than many similar cities nearby.

Some areas of Sammamish have an almost rural feel, while others are much denser. It’s possible to find a home that feels tucked in among the woods or an urban apartment, all in the same city.

In addition to golf, outdoor enthusiasts will enjoy the bike path around nearby Lake Sammamish and the proximity to wooded trails in the mountains.

Families will appreciate the above-average schools and quiet, safe streets.

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Snoqualmie, WA. Snoqualmie, WA.

  • Distance from downtown Seattle: 28.5 miles
  • One-bedroom average rent: N/A
  • Two-bedroom average rent: $1,699

If you’ve chosen to live in the Pacific Northwest for the outdoor adventure opportunities, Snoqualmie has a lot to offer. Just under 30 miles east of Seattle along I-90, Snoqualmie is perhaps best known for the iconic Snoqualmie Falls, which are not only a scenic tourist attraction but also power generators that provide electricity to the town.

Natural beauty surrounds Snoqualmie, with plenty of opportunities to get out and explore the surrounding Cascade foothills in all seasons.

While it has become increasingly popular as a bedroom community for Seattle, Snoqualmie retains its own identity and small-town feel. It has a vibrant arts community, restaurants and shopping options.

In 2019, it was rated the safest city in Washington.

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Everett, WA. Everett, WA.

  • Distance from downtown Seattle: 28.6 miles
  • One-bedroom average rent: $1,570 (down 6.1 percent since last year)
  • Two-bedroom average rent: $1,758 (up 3.6 percent since last year)

For those looking for an urban feel at an affordable price, Everett offers a great alternative to Seattle.

With an economy historically based on manufacturing for companies such as Boeing, Everett retains a blue-collar sensibility that does not prevent it from offering a vibrant art and culture scene, as well as many interesting restaurants and bars.

Sports fans can cheer on the Everett Aquasox, the local minor league baseball team, and for hockey enthusiasts, there is the Everett Silvertips. The Angel of the Winds Arena is one of the major sports and concert venues in the region, offering plenty of entertainment options.

With Puget Sound to the west and the Snohomish River to the East, Everett, like many nearby cities, has a deep, natural beauty that adds to the appeal.

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North Bend, WA. North Bend, WA.

  • Distance from downtown Seattle: 29.3 miles
  • One-bedroom average rent: N/A
  • Two-bedroom average rent: $3,014 (up 12.9 percent since last year)

North Bend is the ultimate destination for outdoor enthusiasts. Its location amid the Cascade mountains’ foothills puts you close to hiking trails, mountain biking and winter skiing opportunities.

Popular local hikes, such as Mount Si and Rattlesnake Ridge, are just minutes away. Even for those who are less inclined to search for adventure, picturesque peaks provide a gorgeous backdrop for everyday life.

Famous as the filming location of the TV show Twin Peaks, North Bend has a genuine small-town feel, with a quaint downtown featuring cafes, restaurants, boutiques and breweries.

North Bend has grown rapidly in recent years, with many of its 7,423 residents choosing it for its rural location. Despite the remote vibe, it is just over 30 minutes from Seattle along I-90, making it a popular choice for commuters.

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Tacoma, WA. Tacoma, WA.

  • Distance from downtown Seattle: 33.9 miles
  • One-bedroom average rent: $1,734 (up 11.2 percent since last year)
  • Two-bedroom average rent: $1,978 (up 13.1 percent since last year)

Tacoma is a city with a lot to offer at an affordable price.

The historic downtown faces Puget Sound, with gorgeous waterfront views. You’ll find great restaurants and shopping options. The downtown area is compact and walkable, but you can also get around easily by bus and rapid transit.

In the downtown core, you’ll encounter young professionals and students from the University of Washington Tacoma campus.

Up the hill, you’ll find residential neighborhoods, each with its own unique feel. Families enjoy good schools and quiet neighborhood streets.

Anyone who has driven through the city will have seen the Tacoma Dome, an event space that hosts events from car shows to concerts. Those in search of culture will also enjoy the Tacoma Art Museum and the Museum of Glass.

On the waterfront, Point Defiance Park is a popular destination for hiking, boating or picnicking with a view.

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Lake Stevens, WA. Lake Stevens, WA.

Photo source: City of Lake Stevens, WA / Facebook
  • Distance from downtown Seattle: 36.6 miles
  • One-bedroom average rent: $1,500 (up 22.5 percent since last year)
  • Two-bedroom average rent: N/A

Located on the lake for which it’s named, Lake Stevens is a growing community that is particularly popular among families with children.

With more affordable prices than many surrounding cities due to its slightly longer drive time to Seattle, Lake Stevens has a small-town feel with an emphasis on community. The city is a good option for those looking for a calm, quiet location well outside of Seattle.

Lake Stevens is a popular boating destination in the summer, and the town and its surroundings are full of natural beauty.

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Make one of these cities near Seattle your next home

Find a home that’s right for you in one of these Pacific Northwest cities. Your next apartment near Seattle awaits.

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com’s multifamily rental property inventory pulled in April 2021. Our team uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

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Source: apartmentguide.com

When Will the Next Housing Market Crash Take Place?

I’ve noticed a trend lately. Everyone’s a real estate expert.

It seems the most recent crisis and recovery has turned just about every single person into a guru on all things to do with home buying and selling.

I suppose part of it has to do with the fact that the massive housing bubble that formed a decade ago swept the nation and was front page news.

It also directly affected millions of Americans, many who serially refinanced their mortgages, then found themselves underwater, then eventually short sold, were foreclosed upon, or held on for the ride back up to new heights.

It’s a common conversation piece these days to talk about your local housing market.

Thanks to greater access to information, folks are scouring Redfin and Zillow and coming up with theories about what that home should sell for, or what they should have listed it for.

Neighbors are getting upset when nearby listings are not to their liking for one reason or another. What were they thinking?!

A New Housing Bubble Mentality

  • Real estate is red-hot again thanks to limited supply and intense demand
  • It can feel like an ominous sign that we’re headed down a dark road again
  • But that alone isn’t reason enough for the housing market to crash again
  • There have to be clear catalysts and financial stress for another major downturn

All of this chatter portends some kind of new bubble mentality in my mind, though it seems everyone is just basing their hypotheses on the most recent housing bust, instead of perhaps considering a longer timeline.

One could look at the recent run-up in home prices as yet another bubble, less than a decade since home prices bottomed around 2012.

After all, many housing markets have now surged well beyond their previous lofty levels seen about 15 years ago when home prices peaked.

For example, Denver area home prices are about 86% higher than they were in 2006. And back then, everyone felt home prices were completely out of control.

In other words, home prices were haywire, and are now nearly double that.

Meanwhile, the typical U.S. home is currently valued around $273,000, per Zillow, which is about 27% higher than the peak of $215,000 seen in early 2007.

It’s also nearly 70% higher than the typical home price of $162,000 back in early 2012, when home prices more or less bottomed.

So if want to look at home prices alone, you could start to worry (though you also have to factor in inflation which will naturally raise prices over time).

But they say bubbles are financially driven, and we’ve yet to see a return to shoddy underwriting.

I will say that there’s been a recent return of near-zero down financing, with many lenders taking Fannie and Freddie’s 97% LTV program a step further by throwing a grant on top of it.

This means borrowers can buy homes today with just 1% down payment, and even that tiny contribution can be gifted from someone else.

So things might be getting a little murky, especially if you consider the increase in prices over the past four or five years.

One could also argue that affordability is being supported by artificially low mortgage rates, which history tells us won’t be around forever.

There’s also a general sense of greed in the air, along with a feeling amongst homeowners that they’re getting richer and richer by the day.

That type of attitude sometimes breeds complacency and unnecessary risk-taking.

But When Will Home Prices Crash Again?!

real estate cycle

  • If you believe in cycles, which seem to be pretty evident in real estate and elsewhere
  • We will see another housing crash at some point relatively soon
  • There appears to be an 18-year cycle that has been observed for the past 200 years
  • This means the next home price peak (and then bust) might begin in 2024

All of those recent home price gains might make one wonder when the next housing market crash will take place.

After all, home prices can only go up for so long before they drop again, right?

Well, the answer to that age-old question might not be as elusive as you think.

The real estate market apparently moves in cycles that some economists think can be predicted to a relatively high degree.

While not a perfect science, there seems to be “a steady 18-year rhythm” that has been observed since around the year 1800.

Yes, for over 200 years we’ve seen the real estate market follow a familiar boom and bust path, and there’s really no reason to think that will stop now.

It puts the next home price peak around the year 2024, followed by perhaps a recession in 2026 and a march down from there.

How much home prices will fall is an entirely different question, but given how much they’ve risen (and can rise still), it could be a long, long way down.

And we might not have super low mortgage rates at our disposal to save us this time, which is a scary thought.

You’ll Never Get Back Into the Housing Market…

  • There are four main phases in a real estate cycle
  • A recovery period and an expansion period
  • Followed by hypersupply and an eventual downturn
  • Don’t believe the hype that if you don’t buy today, you’ll never get the chance!

Another housing bust in inevitable, despite folks telling us we’ll never get back in again if we sell our home today, or don’t buy one tomorrow.

There are four phases to this predictable cycle, including a recovery phase, which we’ve clearly experienced, followed by an expansion phase, where new inventory is created to satisfy demand. This is happening now.

At the moment, home builders are ratcheting up supply to meet the intense demand in the market, with some 45 million expected to hit the average first-time home buyer age this decade.

The problem is like anything else in life, when demand is hot, producers have a tendency to overdo it, creating more supply than is necessary.

That brings us to the next phase, a hypersupply period where builders overshoot the mark and wind up with too much new construction, at which point prices plummet and a recession sets in.

The good news (for existing homeowners) is that according to this theory, we won’t see another home price peak until around 2024.

That means another three years of appreciation, give or take, or at least no major losses for the real estate market as a whole.

So even if you purchased a home recently and spent more than you would have liked, it could very well look cheap relative to prices a few years down the line.

The bad news is that the real estate market is destined to stall again in just three short years, meaning the upside is going to diminish quite a bit over the next few years.

This might be especially true in some markets that are already priced a little bit ahead of themselves, which may be running out of room to go much higher.

But perhaps more important is the fact that home prices tend to move higher and higher over time, even if they do experience temporary booms and busts.

So if you don’t attempt to time the market you can profit handsomely over the long term, assuming you can afford the underlying mortgage.

And remember, there’s more to homeownership than just the investment.

Source: thetruthaboutmortgage.com

10 Cities Near Dallas To Live In 2021

Dallas is the largest inland metropolitan area in the U.S., which probably seems daunting if you’re considering a move. Luckily, there are plenty of great suburbs and nearby cities that let you take advantage of everything the Big D offers from a lower-key base camp.

No matter what reason you have your sights set on the area, the following 10 cities near Dallas should also be on your radar.

Richardson, TX.Richardson, TX.

  • Distance from downtown Dallas: 12.8 miles
  • One-bedroom average rent: $1,442 (down 1.9 percent since last year)
  • Two-bedroom average rent: $1,763 (down 7.3 percent since last year)

With a population of just over 120,000, Richardson has a tight-knit community feel with big-city amenities.

The University of Texas at Dallas is in Richardson, and within the city, there are very desirable public and private schools. It makes living here attractive to young families.

There are excellent city services and fun community programs, including farmer’s markets, festivals and events.

The recreational facilities are top-notch and include gyms, aquatic centers, over 35 parks, playgrounds and nature preserves.

Richardson’s location is perfect — it’s bordered by Dallas and Plano and also provides access to four different DART (Dallas Area Rapid Transit) stations, which can get you to downtown Dallas in 20 minutes.

farmers branch txfarmers branch tx

Source: Apartment Guide / The Luxe at Mercer Crossing
  • Distance from downtown Dallas: 14.1 miles
  • One-bedroom average rent: $1,343 (down 0.5 percent since last year)
  • Two-bedroom average rent: $1,993 (up 7.2 percent since last year)

Farmers Branch is one of the fastest-growing cities near Dallas and a great place to call home. Over 4,000 companies and more than 250 corporate headquarters are in Farmers Branch, making it Texas’s third-largest business center.

Its restaurant and entertainment scene have fully blossomed, and the area is now in high demand for families especially. The neighborhoods are safe and the schools are both excellent while the recreational facilities are state-of-the-art.

Farmers Branch is known as “The City in the Park” because it’s so green with over 30 award-winning parks, a community garden, rose gardens, walking trails and a 104-acre nature preserve.

Addison, TX. Addison, TX.

  • Distance from downtown Dallas: 14.3 miles
  • One-bedroom average rent: $1,533 (down 13.4 percent since last year)
  • Two-bedroom average rent: $2,181 (down 17.1 percent since last year)

If you’re looking for a cool city near Dallas to work and live in, Addison fits the bill.

Many perks include free membership to the Addison Athletic Club, a front-row seat to the famous firework show called Kaboom Town and easy access to the plethora of shopping and dining options.

There are more than 180 restaurants within the 4.4 square miles that make up Addison, ranging from fine dining to family-style establishments.

Addison is a small town in terms of numbers, but it doesn’t feel far from the action. It’s just 20 minutes from Dallas’s downtown with easy access off the tollway.

Plano, TX.Plano, TX.

  • Distance from downtown Dallas: 18.3 miles
  • One-bedroom average rent: $1,764 (up 12.8 percent since last year)
  • Two-bedroom average rent: $2,372 (up 12.5 percent since last year)

Plano is a highly desirable city to live in near Dallas. It’s just a short commute north of Dallas’s downtown and is home to some large corporations like J.C. Penney Company, Frito-Lay and Toyota, to name a few.

Plano is a great place to live and work. It takes on a life of its own with a small-town vibe even though it’s anything but small. Plano stands out because it has a charming historic downtown area with trendy shopping and dining, excellent schools and a strong sense of community.

There is no shortage of recreational activities in this city either with over 70 parks to explore, including hiking and bike trails.

carrollton txcarrollton tx

  • Distance from downtown Dallas: 18.6 miles
  • One-bedroom average rent: $1,312 (up 4.4 percent since last year)
  • Two-bedroom average rent: $1,660 (up 4.7 percent since last year)

A precious gem tucked into the Dallas metro area is Carrollton. Residents enjoy a high quality of life with top schools, safe neighborhoods and lots of recreational parks.

In this city, slightly northwest of downtown Dallas, you’ll find beautiful, spacious homes to fit a relaxed lifestyle. Carrollton real estate is some of the most expensive in Texas but proves to appreciate in value faster than neighboring cities.

The pristine Indian Creek Golf Club, a 36-hole golf course, is in Carrollton. You can also find many hiking and biking trails, picnic areas and playgrounds scattered throughout the city.

Additionally, there are more than 250 restaurants in Carrollton — so much variety, your tastebuds will thank you.

Grapevine, TX.Grapevine, TX.

  • Distance from downtown Dallas: 22.2 miles
  • One-bedroom average rent: $1,419 (down 3.3 percent since last year)
  • Two-bedroom average rent: $1,966 (down 3.5 percent since last year)

Located in between Dallas and Fort Worth is the city of Grapevine. Home to DFW International Airport, the third-largest airport in the world, this city offers accessibility like no other.

Living in Grapevine provides major conveniences with a suburban feel. There are plenty of restaurants, boutiques, wineries, art galleries, jewelry stores and more in the Historic Main Street District, a hot destination.

The beautiful Lake Grapevine offers 8,000 acres for outdoor recreation like fishing, stand-up paddleboarding, boating and hiking, making this an exciting place to live.

As the name Grapevine might hint, you’ll find many wineries linked by the city’s Urban Wine Trail. There’s even a multi-day annual wine festival called GrapeFest.

Rockwall, TX.Rockwall, TX.

  • Distance from downtown Dallas: 23.4 miles
  • One-bedroom average rent: $1,472 (down 5.3 percent since last year)
  • Two-bedroom average rent: $1,750 (down 1 percent since last year)

Rockwall is one of DFW’s best-kept secrets. The city has much to offer its residents, making it an attractive place to live near Dallas. Rockwall Parks and Recreation offers year-round events and classes for kids, as well as summer music events and movie nights in the park.

It’s a great city to raise a family and combine work with play. There are a few large employers in Rockwall, including many manufacturing companies and Texas Health Hospital Rockwall, which employs more than 600 people.

One of North Texas’s largest lakes, Lake Ray Hubbard, is in Rockwall and is great for fishing, skiing and recreational boating. Overall, Rockwall is a fun and relaxing place to live.

Allen, TX.Allen, TX.

  • Distance from downtown Dallas: 24.2 miles
  • One-bedroom average rent: $1,330 (up 1 percent since last year)
  • Two-bedroom average rent: $1,648 (down 3.7 percent since last year)

Allen is a booming suburb and a great place to live near Dallas. It’s known for premium shopping, excellent attractions, safe neighborhoods and a highly-ranked school system.

Some of the best shopping destinations in Allen are Allen Premium Outlets, which has over 120 outlet designer and name-brand stores, and Watters Creek at Montgomery Farms, a scenic, resort-style shopping center and entertainment destination.

Another perk of living in Allen is the number of recreational offerings. You can head to Don Rodenbaugh Natatorium, which offers an indoor water park, a competition-sized swimming pool and a rock-climbing wall, or try wakeboarding at Hydrous at Allen Station. Meanwhile, skaters can enjoy the Edge at Allen Station Skate Park, the largest outdoor skatepark in Texas.

Frisco, TX.Frisco, TX.

  • Distance from downtown Dallas: 26.4 miles
  • One-bedroom average rent: $1,624 (up 17.3 percent since last year)
  • Two-bedroom average rent: $2,269 (up 22.1 percent since last year)

Frisco has so much to offer — in 2018 Money magazine put it at number one on the “Best Places to Live in America” list. The city has undergone extreme growth in the last couple of decades and is an ideal place to raise a family.

Frisco is safer than surrounding areas, with a crime rate of 86 in 2019, which is 3.1 times lower than the U.S. average. Families also appreciate the excellent education opportunities. The school district is known for academic excellence and innovative programs.

Frisco is additionally becoming the epicenter for football fans since it’s the site of the Dallas Cowboys’ 91-acre campus, known as the Star.

McKinney, TX.McKinney, TX.

  • Distance from downtown Dallas: 30.8 miles
  • One-bedroom average rent: $1,277 (down 4.7 percent since last year)
  • Two-bedroom average rent: $1,704 (up 1.5 percent since last year)

McKinney is an excellent option if you’re looking to live near Dallas but crave a slower-paced feel.

This blend of big-city and small-town culture is one of the many reasons young professionals and growing households move to the area. The historic downtown square draws visitors from all over with its unique locally-owned boutiques, gift stores, art exhibits, restaurants and coffee shops.

There are a few breweries in McKinney which add to the life of the city. There’s also a plethora of picturesque parks and the eight-mile Erwin Park Hike and Bike Trail for residents to enjoy.

Make one of these cities near Dallas your next home

If you’re looking for the amenities of a metropolis but prefer a more laid-back vibe, you’re bound to find it in these 10 great cities near Dallas. No matter where you decide to hang your hat, there are some things you’ll need to know before living near the Big D.

Get the 411 on living in Dallas and start preparing for your move today.

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com’s multifamily rental property inventory pulled in April 2021. Our team uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

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Source: apartmentguide.com

How to Get a TV for Cheap – 7 Ways to Get Deals on a New Television

TVs and many other electronics are interesting because as quality has steadily improved over the years, prices have dropped. According to the Bureau of Labor Statistics, the price index for TVs decreased by 94% between 1997 and 2015.

In other words, TVs become more affordable every year despite continuous upgrades and new features.

However, if you’re buying a new TV, you still need to be somewhat price-conscious. The latest plasma or LCD TV models still set you back several hundred dollars or more. Like other major purchases, it’s important to ensure you buy the right TV that has the right balance between price and features.

Thankfully, there are several ways to get the best deal on a new TV to help keep costs down. As long as you give yourself enough time to shop and keep these strategies in mind, your next TV upgrade shouldn’t drain your wallet.

The Best Ways to Save Money on a New TV

Buying a new TV isn’t going to be cheap. Ultimately, screen size, features, and brand influence prices the most. If you’re set on a specific size and type of TV, your savings will only go so far.

However, there’s no reason to pay full price for a new TV, regardless of the size and type you buy. Implement one or more of the following money-saving tips the next time you decide to upgrade your TV to keep more money in your wallet.

1. Shop Online

It might seem daunting to buy a new TV online. After all, you probably want to see it in person to help visualize what it would look like in your home.

However, one of the easiest ways to save on a new TV is to buy online. Shopping online saves time, and if you use shopping browser extensions, it’s easy to comparison shop to ensure you’re getting the lowest possible price.

For example, extensions like PriceBlink tracks product prices across thousands of retailers. If you’re shopping for a new TV, PriceBlink notifies you if there’s a better deal on a different website for instant savings.

To take your savings further, use extensions like Capital One Shopping and Honey. Both extensions automatically apply coupon codes at checkout to help you save money.

Plus, you can earn free gift cards with both extensions for shopping at specific retail partners. If you’re buying a high-ticket item like a TV, a single coupon code can go a long way in your efforts to save money.

Finally, online tech deal sites are also worth checking to find low prices on TVs and other electronics. For example, websites like Newegg and SlickDeals often have TV discounts that can shave off a significant portion of your price tag.

Buying a new TV online is also less stressful if you do your research. Room size matters for screen size, so measure the area you plan to set up your TV to gauge if you’re buying the right size. TV buying guides can also help you decide on your screen size based on how far away your seating is from the TV and how crowded the room is.

Finally, read reviews for any TV you’re considering. If you’re concerned, you can also check out the TV you’re considering in-store before placing your order online.


2. Use a Cash-Back Credit Card

Buying a new TV is a considerable expense. Additionally, if your new TV purchase is part of a home improvement project or move, you probably have other major expenses alongside your new tech.

Using a cash-back credit card for everyday purchases is a savvy move. However, for large expenses, credit cards are even more lucrative.

Plus, credit cards often have introductory bonuses if you spend a certain amount of money within the first few months of becoming a cardholder. If you take advantage of a bonus while TV shopping, you’re making the most of your money.

Several popular cash-back credit cards worth considering include:

  • Chase Freedom Unlimited: No annual fee; earn $200 when you spend $500 within the first three months; 5% cash back at grocery stores; unlimited 1.5% on most other purchases; up to $500 in purchase protection for 120 days. Read our Chase Freedom Unlimited review for more information.
  • U.S. Bank Cash+ Visa Signature Card: No annual fee; earn $150 when you spend $500 within the first three months; 5% cash back up to $2,000 on two categories of your choice, which can include electronics; 1% to 2% cash back on everything else. Read our U.S. Bank Cash+ Visa Signature Card review for more information.
  • Costco Anywhere Visa Card by Citi: Requires a Costco membership; 4% cash back on first $7,000 in eligible gas purchases; unlimited 3% cash back on travel and restaurant spending, unlimited 2% cash back on Costco purchases; unlimited 1% cash back on everything else; purchase protection against loss or damage for up to 90 to 120 days. Read our Costco Anywhere Visa Card review for more information.

The Chase Freedom Unlimited card is ideal if you want to take advantage of an easy $200 sign-up bonus. However, depending on how expensive your new TV is, 5% cash back from the U.S. Bank Cash+ card and sign-up bonus might earn more.

Finally, shopping at Costco to save money is already a smart move; if you do electronics shopping at Costco, sweeten the deal by signing up for their Anywhere Visa card to earn 2% cash back.


3. Tread Carefully with Extended Warranties

Extended warranties are protection plans you can purchase to cover damage and defects. You commonly find extended warranty plans for consumer electronics, vehicles, mobile phones, and even home warranty plans.

On paper, extended warranties might seem like they’re worth it. After all, if you buy a new TV or other expensive product, your first instinct is to insure yourself against damage and disappointment down the line.

However, according to Consumer Reports, extended warranties for electronics are almost never worth the cost. We tend to overestimate the likelihood our tech products will fail, and there are several other considerations to keep in mind:

  • Manufacturer Warranties. Tech products usually have some form of manufacturer warranty to protect against defects. Most warranties last for 90 days, which might suffice for protecting your purchase against defects and damage.
  • Store Policies. Big box retailers generally have lenient return policies that cover product malfunctions or defects. Some stores even let you return products without any real reason, provided they aren’t damaged. For example, Walmart lets you return TVs within 30 days and provides a refund for damaged or defective products. Therefore, extended warranties aren’t needed to protect yourself against out-of-the-box defects.
  • Term Length. Companies sell extended warranties to profit, which isn’t in customers’ best interests. Many extended warranty plans last one to two years, but the bulk of technical issues you encounter will probably occur long after this time frame. In other words, extended warranties on electronics is buying protection for the least risky period of ownership.

If you want to maximize your savings when buying a new TV, you should almost always skip the warranty.


4. Consider Older Models

Like most tech products, TVs improve every year with the release of new models. Resolutions of 4K become 8K, screen sizes get larger, and picture quality sharpens. For true technophiles and cinema lovers, the latest models are undeniably a cause for excitement.

However, part of TV shopping involves considering the diminishing returns on your spending. Do you really need the latest TV model, largest screen, and sharpest resolution that’s on the market? Depending on your room, viewing habits, and budget, buying an older TV model is often how you get the most value.

Even buying a year-old model can make a significant difference on price. Plus, modern TVs have come a long way compared to their heavy, clunky predecessors. Smart TVs that are a few years old still work with streaming services and devices.

Until a truly revolutionary line of TVs release, slightly older models will suffice for most viewers — and can save you hundreds of dollars.


5. Shop at The Right Time

For major purchases, timing sometimes means a significant difference in savings. Retailers price products differently based on demand and season, and TVs are no different. Therefore, if you’re planning to spend a few hundred dollars or more on a new TV, it might be best to hold off.

Historically, TV deals are most popular during two events: Black Friday and the Super Bowl. Black Friday is especially popular for TV shopping because almost every major retailer will offer a discount on electronics. Super Bowl deals are less common, but they’re worth keeping an eye on.

The best way to take advantage of a sale is to research presale prices at least a few weeks before the sale begins. Retailers are crafty, and sometimes your sale price is actually the same or more expensive than regular pricing because retailers first raise the base price to make a “sale” seem more appealing.

If you shop on Black Friday for the holidays, this is especially important because these faux sales are rampant. Following the price of the TV you want in the month leading up to Black Friday can help you spot a real bargain.

If you’re buying from Amazon, you can use the CamelCamelCamel extension to track Amazon prices and view price history for millions of products. Similarly, Honey and Capital One Shopping let you set up price tracking alerts on products to receive notifications when a product you’re interested in drops in price.

New TV models usually release in spring, so this is another ideal time to buy older TV models. Ultimately, if you give yourself enough runway, you can buy a new TV at a low price point for easy savings.


6. Use Reward Websites and Apps

Comparison-shopping websites or daily deal websites are useful for finding discounts. However, sometimes cash-back reward websites offer the greatest chance to save.

Rakuten is one popular option that pays you cash back for shopping at their partners. Creating a Rakuten account is free, and you simply visit Rakuten before shopping online to find opportunities to earn cash back.

In terms of TVs and electronics, notable Rakuten partners include:

  • Best Buy: Up to 1% cash back
  • TV Store Online: 7.5% cash back
  • Staples: 2% cash back
  • Office Depot: 2% cash back
  • Overstock: 4% cash back

Cash-back rewards are subject to change. Luckily, Rakuten partners with thousands of retailers, and there’s always an opportunity to earn cash back on your next electronics purchase. Rakuten also has online coupon codes, although cash back is where the platform shines.

If you can’t find deals on Rakuten, various reward apps are also worth trying. Apps like Drop pay you in free gift cards for shopping through the app at specific partners. Drop partners with plenty of big box retailers, making it easy to find TV deals.

Similarly, Dosh is another rewards app that automatically pays you cash back for shopping through its partners. Once you link your credit and debit cards to Dosh, you never have to worry about preselecting offers before shopping, and Dosh also partners with plenty of major U.S. retailers.

If you combine these rewards with shopping at the right time of year and other savvy tricks, you can get a new TV for much less than full price.


7. Consider Cheaper Brands

With electronics, you largely get what you pay for. Whether you’re shopping for noise-canceling headphones, a laptop, or a new TV, going for the cheapest option sometimes has consequences for performance and longevity.

If you’re buying a new TV for your home theater or family room, spending more on a premium brand and model might be worth it. However, if you just need a TV for watching the hockey game in your garage or for sending with your kid back to college, you don’t need to splurge on a leading brand.

Cheaper TV brands like Vizio and Insignia can get the job done without draining your wallet. You can also shop for refurbished electronics if you find a reputable seller and understand the warranty that comes with the TV.


Final Word

Like most electronics, TVs feel like something we need to update every few years. New models come out, screen sizes get larger, and it seems like upgrades are an inevitability.

There’s nothing wrong with buying a new TV or even splurging on a recent model with the latest specs. However, you should never pay full price for a new TV, especially if you’re on a tight budget and are trying to maximize your savings rate.

Additionally, consider the diminishing returns on your spending before making your next upgrade. New TVs are a luxury, but there comes a point at which spending more doesn’t necessarily increase enjoyment.

Source: moneycrashers.com