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CFP Board in the News

Buying Your First Home After 40 Brings Additional Financial Considerations

Jul 31, 2013

It’s often the most daunting and emotionally taxing item on one’s financial to-do list: Buying a home.

Most people wade into homeownership for the first time in their 20s and early 30s, when they still have the bulk of their working years ahead of them and a long runway to build equity — a key asset for eventually moving up to a bigger home.

But what if you’ve reached midlife and still envision buying a home one day? Tackling that first home purchase after 40 can be easier in some ways than when you’re just staring out in your career, but it also brings its own set of financial factors.

“It’s important to consider the financial work you have left,” says Eleanor Blayney, [CFP®,] consumer advocate for the Certified Financial Planner Board of Standards based in Washington D.C. “The financial hurdles you still have over the rest of your life and how homeownership and debt in particular are going to impact that.” Read more >

Associated Press / Washington Post
Alex Veiga
July 31, 2013

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Anyone can call himself a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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