YET ANOTHER GOOD REASON TO LIVE IN SOUTHWEST FLORIDA
Population is booming, business is booming … Naples is a certified boomtown.
GOBankingRates put Naples on the top of top U.S. boomtowns. What is a “boomtown,” exactly? The site looked at areas with a population under 500,000 that had high growth in population, housing units and per capita income from 2012 to 2017. Here’s what it had to say about Naples: “Naples made the top five on the list for highest gross domestic product increase, by percentage—realizing a five-year change of $4,624. Plus, the city barely landed outside the top five for the percentage increase in income. Although the city was below average for the list regarding housing and population increases, it wasn’t by much—less than 1 percentage point each.”
“I would argue that the biggest impact on how long you live is where you live,” says National Geographic Fellow Dan Buettner, who has studied the world’s longest-living people in “longevity hotspots” he calls Blue Zones. Among them: Sardinia, Italy; Okinawa, Japan; and Nicoya, Costa Rica.
So where in the U.S. can you live to a really ripe old age? You might be surprised.
“People in the Blue Zones don’t have better discipline or a greater sense of responsibility,” says Buettner. “They simply live in environments that make healthy lifestyle choices easier, or unavoidable.”
Some places are better than others at supporting the habits that stretch lifespans. When you can walk to do your errands, you’re more likely to be active than if you have to drive to the gym. Living in a community with plenty of neighborhood groups provides a buffer against loneliness, which can shave years off your life. You’re more apt to eat “clean and green” when farmers markets are nearer than junk-food joints.
What else helps: smart city design (think safe bike lanes, affordable housing), good health care, social opportunities and an economy that sees older workers, entrepreneurs and retirees as an asset, not a drain, says Caroline Servat, co-author of a new Milken Institute report on “age-forward” communities.
We’ve identified eight spots that will help you live long and prosper. (Editor’s note – We jumped to number 4, Naples! Read the entire article online https://parade.com/976846/paulaspencer/how-to-live-to-100/)
4. Naples, Florida
What’s not to love about Naples? The small town (population approximately 22,000) features high-quality health care and loads of leisure pursuits and good-for-you food—all set in a chill backdrop of Gulf of Mexico watersports, golf and sun.
The Naples-Immokalee–Marco Island area hit No. 1 in Gallup’s National Health and Well-Being Index for the past four years. Naples also often tops “healthiest eaters” lists; who needs sugar when you have white “sugar sand” beaches to stroll on?
An unusually high number of Paradise Coast residents say in surveys that they’re low in stress and rich in supportive, loving relationships. Having strong social ties—there are multiple retirement communities and recreation centers here—can extend lifespan as much as quitting smoking, one research review found.
Original article can be found here - https://parade.com/976846/paulaspencer/how-to-live-to-100/
According toMagnify Money, that is. The personal finance site listed the city at the top of a list of 20 for a FIRE retirement — an acronym for “financially independent, retire early.”
According to the Magnify Money article, “The FIRE approach to retirement has become popular among many younger, millennial savers in recent years. In a nutshell, practitioners of FIRE aim to retire as early as they can, but only once they have achieved a level of financial independence that would free them from conventional employment. The core strategy for building a nest egg that would allow one to retire early is to adopt extremely frugal saving and spending habits.”
Not surprisingly, half of the top 20 cities that made the list are in Florida, a state well-known for its retirement and seasonal resident-friendly reputation.
To achieve the rankings, Magnify Money compiled data on 171 cities across America and scored them on cost of living and quality of life. The values were combined to produce an overall ranking of the best cities for a FIRE retirement (see the charts for best and worst cities below).
Here’s the list of the top 20 best cities for early retirement, in descending order, according to MagnifyMoney.
When you are closing on a sale to buy real estate, the title company or law firm handling the transfer may ask you how you want to take title to the property. If you are not prepared for this question or do not have a lawyer reviewing the documents, this can be a stressful moment that has long-lasting implications.
Are There Any Encumbrances On The Land?
Before you choose how you want to take title to your new property, you will first want to be sure that the seller has full and exclusive rights to sell the property to you – this is called “clear title.” If there is any lien against the property or any other encumbrance on the land, this is said to “cloud title.”
With clear title, you will be purchasing real estate as you expect it – you will have full ownership of the land and any improvements on the land, such as the house, fence, driveway, and septic system. If the seller cannot prove clear title, then you likely will not want to purchase the property at all.
This is why the closing agent, usually an attorney or title company, will conduct a title search before completing the transfer. The title search is a way to check records and make sure that the title is clear and, therefore, marketable. However, title searches are not foolproof. It is possible that the title search could miss an encumbrance that is not recorded in the land or public records. That is why you obtain title insurance. Title insurance is a policy that covers real estate buyers (up to the coverage amount) in the event that the title search missed something and the seller did not deliver clear title.
Most buyers will not complete a real estate transfer if there is cloud on the title because lenders will not issue a mortgage without title insurance, and a title insurance company will not issue a policy if it finds an encumbrance on the title. If you are paying cash, you may choose to take the property “as is”.
Forms of Property Ownership
Once you are sure that title is clear and marketable, you will then have to decide how to take ownership of the property. How you choose to take title should be reflected in the title documents and, most importantly, on the deed.
If you are purchasing real estate with another person, such as a spouse, family member, or business partner, you will have a few options regarding joint ownership. However, if you are purchasing property as a sole owner, titling is much more straightforward. Sole ownership of a property means that the real estate will be owned by one individual. If you are married and choose to own property without the involvement of your spouse, he or she may need to execute an affidavit or quitclaim deed to relinquish any ownership in the property.
Taking title to real estate as the sole owner does not confer any particular tax or estate planning benefits, as there may be in other forms of ownership. There is no creditor protection conferred, as the real estate will just become one of your assets. As a part of your whole estate, real estate will transfer to your heirs through the probate court, unless you transfer ownership to a trust. In Florida, if you transfer your homestead property to a trust, for example, your spouse will need to join in on the conveyance if you are the sole owner on title.
Tenancy in Common
If you and another person(s) want to take ownership of property together and are unmarried, the State of Florida will presume that you are taking title as Tenants in Common. Tenants in Common co-own real estate in shares without the right of survivorship. This means that if one tenant in common dies, his or her share in the property will pass in accordance with his or her will. The surviving tenant in common will then become co-owners with the deceased tenant’s heirs. This is one of the challenges with this form of ownership. Because there is no right of survivorship, it is possible to end up co-owning real estate with someone you do not know.
Tenancy in common does not require that all owners hold equal shares in the property. However, the percentage of ownership held by each tenant in common should be specified in the deed.
Joint Tenancy with a Right of Survivorship
This form of ownership allows more than one person to co-own a property, however, each holds full ownership of a single interest in the property. This means that, if one tenant dies, the other tenant(s) will continue to be sole owner(s) of the property, avoiding the need for probate. In Florida, this form of taking title is most commonly used for family members who wish to keep a property within the family. As joint tenants, all co-owners have equal ownership rights to the property and retain the right to occupy the entire premises.
Florida is a title theory state. This means that, if one joint tenant mortgages his or her interest in the property, the state will consider this a conveyance, and the joint tenancy will be destroyed. By default, the co-ownership will revert to tenants in common. The mortgage will be on a one-half interest in the property, and the other tenant will not be impacted.
Tenancy by the Entirety
Tenancy by the entirety is a special ownership status that is only extended to married persons. Both partners hold an identical interest in the whole property and benefit from the right of survivorship. Tenancy by the entirety is different than joint tenants with a right of survivorship because there is no risk of severance. As long as both partners are alive and still married, neither owner can break the tenancy.
This form of ownership also extends special protection from creditors. In Florida, the entirety estate cannot be breached by creditors of one spouse alone. A creditor would only be able to access a tenancy by the entirety if it is a creditor of both spouses. In the case of divorce, the tenancy by the entirety is terminated, and ownership will revert to tenancy in common.
What If The Owner Is Not A Person?
It is possible to own property in a trust or through a business entity (corporation, LLC, or partnership). Each of these forms of ownership creates additional taxation and estate planning implications. It is best to have an attorney represent your company or trust in the case of a non-person entity taking title to real estate.
Explore All of Your Options
It is always advised to hire a Florida Real Estate Agent & Florida licensed attorney to help you in the process of taking title to your new real estate purchase.