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How to accumulate wealth

Start by assessing your tolerance for risk

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So far in this series, we have described the three layers that make up the basic financial planning pyramid ā€” protection, accumulation and distribution.

We provided an analysis of the protection component describing how it is essential to make sure you and your loved ones are protected as much as possible from significant unexpected events that could derail your longer term goals if you are not prepared to deal with them.

Examples include premature death, disability and job loss.Ā We then introduced the second layer, accumulating wealth.Ā We discussed how you should assess your cash flow to determine how much you can set aside for savings, what goals you could be saving for and how much you need to save to help you reach your target.

We also discussed that various savings and investment vehicles can be earmarked for particular goals and are not necessarily appropriate for all goals.Ā  This article will continue to focus on the accumulation layer, delving deeper into strategies for managing the money youā€™ve accumulated.

Start by assessing your ability to stomach the ups and downs of the markets and try putting that in the context of meeting your goals within a particular timeframe. All investment involves risk, and, in general, the more risk you take, the higher the potential reward.

This is a personal decision and only you can decide how much risk you can tolerate.Ā Once you have gauged your risk tolerance and determined your investment time horizon, it is time to determine an asset allocation strategy that is right for you ā€“ one that helps you meet your particular goals while trying to minimize the amount of risk that can get you there.

What is an asset allocation strategy?Ā It is a method of deciding what mix of asset categories, for example stocks, bonds and cash, among others, will help you meet your goals. This is a complicated and extremely important part of your money management strategy and we advise consulting a financial professional who can help you navigate this process.

For example, if you believe you are risk averse, you may decide to invest only in bonds and cash for your retirement.Ā However, if your retirement is far off, this strategy may result in you falling short of your goals.Ā If you take more risk and include some equities in your asset allocation strategy, you may increase the chances of meeting your goals. Equities do involve more risk and their performance is more volatile than bonds and cash.Ā However, equities typically outperform inflation as well as cash and bonds over the longer term.Ā  Finding the balance can be difficult.

What we have described is one of the fundamental principles of managing your investment dollars.Ā The vast majority of the success or failure of your money management strategy is determined not as much by the specific holdings in your portfolio, as by having the correct asset allocation strategy, sticking to the strategy through good and bad times and rebalancing your holdings periodically to make sure your assets are distributed according to your defined strategy.

Your overall goals may change and your tolerance for risk may go up or down too and your strategy may then have to be modified.Ā A financial professional can help you make adjustments when necessary and make sure you are staying on the right track.

In the final installment of this series, we will discuss the third and top layer of the financial planning pyramid, the distribution phase. We will touch on living off of your accumulated assets, preserving assets for your heirs and making plans to transfer remaining assets to people, charities or institutions.

This material is for informational purposes only and is not intended to act as specific advice.Ā Please talk to a financial professional prior to investing.

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Real Estate

Migration trends: LGBTQ buyers moving to suburbs, small cities

Finding welcoming communities beyond traditional urban strongholds

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Remote work has enabled many LGBTQ homebuyers to leave big cities for larger homes in the suburbs. (Photo by trongnguyen/Bigstock)

Over the past few years, a significant migration trend has emerged: many buyers are leaving urban areas in favor of suburban or smaller city life. This shift is largely driven by the rise of remote work, lower cost of living, and the appeal of a quieter, more spacious environment. For LGBTQ buyers, this trend offers unique opportunities and challenges as we seek welcoming, affirming communities beyond the big cities.

Why LGBTQ Buyers Are Considering Small City Living

Historically, LGBTQ individuals have flocked to larger cities known for their vibrant queer communities, social support, and acceptance. Cities like San Francisco, Chicago, New York, Miami and Los Angeles have long been hubs for LGBTQ life. However, recent trends show a shift in priorities:

  1. Remote Work Flexibility: The pandemic accelerated the adoption of remote work, giving many the flexibility to live outside urban centers. LGBTQ individuals can now prioritize factors like home space, affordability, and lifestyle without being tied to a city office. This newfound freedom allows us to consider locations that may offer a more balanced quality of life.
  2. Affordability and Space: Urban centers have high costs of living, making homeownership a challenge. Many LGBTQ buyers are looking to build families and settle down, which often requires more space than city living affords. Suburbs and smaller cities typically offer larger properties and single-family homes at a more affordable price, making them appealing options for those seeking more space and financial savings.
  3. Emerging LGBTQ-Friendly Communities: While cities have traditionally been safe havens for LGBTQ individuals, many suburbs and smaller cities are becoming increasingly inclusive. With Pride festivals, community centers, and local businesses openly supporting LGBTQ causes, these areas are actively working to attract and retain LGBTQ+ residents

Considerations for LGBTQ Buyers in the Suburbs

Moving to a less densely populated area may offer financial and lifestyle benefits, but itā€™s essential for LGBTQ buyers to research and ensure they are moving into a supportive environment. Here are some factors to consider:

  • Assessing Inclusivity and Safety: Before moving, itā€™s wise to visit potential neighborhoods to get a feel for the local culture. Researching online forums, LGBTQ community groups, and checking local nondiscrimination laws can also provide insight into a location’s inclusivity.
  • Access to LGBTQ Services and Community: Many LGBTQ individuals value access to queer-friendly healthcare providers, legal support, and social networks. Some smaller communities may lack these resources, so itā€™s important to verify that youā€™ll have access to the necessary support services.
  • Finding Local LGBTQ Groups: Community connection is crucial for LGBTQ individuals. Many suburbs have smaller but growing LGBTQ groups, often organized through social media or apps like Meetup. These groups can help you form connections, find local allies, and establish a sense of belonging in your new area.

Suburban Growth and Its Impact on LGBTQ Buyers

The migration to suburban areas has led to increased demand for single-family homes, which can lead to supply shortages and higher competition. In some LGBTQ-friendly suburbs, this demand has driven property values up as more people seek out homes that provide both the physical and emotional space they need to thrive.

Some suburban areas are responding to this demand by creating or improving amenities such as public transportation, dining, and cultural attractions, all of which contribute to a vibrant community. For LGBTQ buyers, this trend could mean greater access to the cultural and social opportunities they may miss from city life, alongside the benefits of suburban living.

The migration of LGBTQ individuals to suburbs and smaller cities highlights an exciting shift in lifestyle and priorities. As more suburban areas embrace diversity and inclusivity, LGBTQ buyers have the opportunity to find welcoming communities beyond traditional urban strongholds. 

At GayRealEstate.com, weā€™re here to help you find LGBTQ-friendly real estate agents who understand your unique needs and can guide you through the process of finding your perfect home, wherever that may be. Whether youā€™re looking in a bustling city, a tranquil suburb, or a charming small town, our network is here to support you every step of the way.


Jeff HammerbergĀ is founding CEO of Hammerberg & Associates, Inc.Ā Reach him at 303-378-5526 orĀ [email protected].

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Real Estate

Uncertainty everywhere: the ups and downs of real estate

With rates declining, weā€™re ready to get off this roller coaster once and for all

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The real estate market has resembled a roller coaster for years now, especially since the pandemic.

Itā€™s an election year, after a once-in-a-century pandemic, and the country has an uncertain future; for many of us, it feels like its own existence is hanging in the balance. With so much uncertainty in the air, few people would think of real estate at this moment, right?

Perhaps. But for a large group of buyers and sellers actually entering the market now, after waiting years for rates to fall, it seems as good a time as any to join the froth of a bubbling market. To be clear, the frothiness is not felt everywhere, nor for every type of home, so once again, uncertainty seems to be the word of the day and the overall mood in the air.

Sept. 19, 2024 was a date that sellers, buyers and most of all Realtors had circled on their calendars, waiting with breathless anticipation as the promise of a Federal Reserve cut in the overnight lending rate (the ā€œprimeā€ rate) was all but promised by chairman Jerome Powell in the preceding weeks and months. Speculation abounded as to whether it would actually happen though, since Powell had previously promised rate cuts throughout 2022 and ā€œat least threeā€ in 2023ā€”only to play the Lucy role with her proverbial football over and over again, never actually reducing rates by even a skosh.

Those in the know would barely venture an optimistic guess as to whether it would truly happen, and the optimistic few that said ā€œthis time, this time it has to happenā€ would only commit to the cut being a quarter point. 

In the weeks before the meeting, mortgage lenders saw that interest rates offered in the open market to consumers actually did fall, which was an indication that market players themselves were more optimistic than the pundits, and had ā€œbaked inā€ the portended rate cut already. 

But when Powell made the announcement, he didnā€™t just give us the football, he gave us a touchdown ā€” with a half-point reduction. Realtors rejoiced; sellers said ā€œsell,ā€ buyers got pre-approved and homeowners considered refinancing, all at the same time.

But when lenders answered calls from would be buyers and refinancers, they had to give the grim news: apparently, the market had baked in too high a rate cut alreadyā€”and rates actually went UP instead.

So, Lucy turned out to be there all along, not pulling the football back with the hands of Powell, but with the so-called ā€œinvisible handā€ of market dynamics. Sellers, buyers, and Realtors alike sighed with disappointment, as we then anticipated a season with less froth after all.

All that said, the numbers are actually pretty good in local real estate. While days on market for closed single family homes, condos, and co-ops is up to an average of 23 in Washington, D.C., from their lows of 11 in 2020, median prices this year are actually hovering right near their all-time highs in 2021 of $671,000, down just 0.9% to $664,500.

The resilience of the housing market is buoyed by strong single-family home sales in upper Northwest D.C. which seems to have bidding wars for almost every property; those in the business will certify that condos, especially in more transitional areas, are suffering in the meantime. 

Many of our clients with the slower-moving properties are turning to renting them instead, which has caused a higher inventory of rental properties, in turn resulting in some softening in rental prices from their peaks in 2022. So for many sellers, landlords, and agents, this year has felt like a slow one no matter which way we turn. 

To navigate these twists and turns of an ever-surprising real estate landscape, it helps to turn to experienced advocates, especially those that have weathered a similar storm before. Our team, for example, has helped our clients through the relatively painless market slowdowns in 2005 and 2007, and of course through the world-changing market crash of 2008, and then the drastically uncertain times during COVID. 

From my perspective though, it has been the post-COVID time of high interest rates that is the most challenging of my whole career, and the most frustrating for some of our clients. I think we can all agree that we are ready to get off this roller coaster once and for allā€”and to not ever want to ride it again. 


David Bediz is team leader and a 20-year veteran agent at the Bediz Group, LLC. Reach him via bediz.com or 202-642-1616.

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Real Estate

Spooky Pride: Thrifty LGBTQ Halloween decor tips for your rental

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Throw a pumpkin-carving party in your building to celebrate the season. (Photo by mr. Smith/Bigstock)

Halloween is the perfect time to show off your creativity and embrace both the spooky and fabulous. For LGBTQ renters, itā€™s an opportunity to infuse your space with festive flair that reflects both pride and personality ā€” without breaking the bank. Whether you’re hosting friends for a ghoulish gathering or simply decking out your apartment for some solo seasonal fun, we’ve got you covered with budget-friendly, LGBTQ-inspired decorating tips that bring glam, style, and inclusivity to your haunted home.

1. LGBTQ Symbols and Colors. Rainbow-Inspired Decorations: Incorporate rainbow-colored string lights, garlands, and flags into the Halloween decor. This can be paired with classic black and orange Halloween colors to create a unique, inclusive aesthetic.

Pride Pumpkins: Paint pumpkins in rainbow or trans Pride flag colors or carve designs like hearts or symbols of equality to mix Halloween with LGBTQ pride.

2. Drag Queen-Inspired Glam. Glitter and Glam: Draw inspiration from drag queens by adding glamor to Halloween decor. Use metallic streamers, sparkling skulls, and shimmery fabrics for a fabulous touch.

DIY Drag Masks: Create or purchase affordable masks with feathers, sequins, and bold colors for a decorative wall or window display, which can also double as party favors.

3. Inclusive Horror Icons. Iconic Figures: Use LGBTQ-friendly horror icons like Elvira, Divine (from ā€œPink Flamingosā€), or characters from ā€œRocky Horror Picture Showā€ in posters or costumes. They add a campy, queer edge to Halloween dĆ©cor.

DIY Posters or Cutouts: Print out photos or posters of these characters and frame them inexpensively to give your apartment a bold statement piece.

4. Thrifty Decorating Tips. Up-cycled Decor: Thrift stores are a great resource for inexpensive Halloween props ā€” like old frames, candle holders, and vasesā€”spray paint them black or gold for a spooky and chic feel.

DIY Spooky Lanterns: Repurpose mason jars or old glass containers by placing battery-operated LED lights or tea lights inside. Decorate the outside with stickers or painted-on spooky designs like bats, pumpkins, or cobwebs.

Black Lace on a Budget: Drape black lace or fishnet fabric (found cheaply at fabric stores) over tables or lampshades for an eerie, gothic vibe.

5. Queer-Friendly, Sustainable Alternatives. Eco-Friendly LED Lighting: Encourage the use of LED lights in purple, orange, or green. Not only are they energy-efficient, but theyā€™re safer for apartments that may have limitations on open flames or outlets.

Plant-Based, Vegan Candles: For a spooky, cozy vibe, suggest plant-based, cruelty-free candles. Opt for scents like pumpkin spice or cinnamon for a seasonal touch without compromising on values.

6. Community Engagement. Collaborative Building Decor: Suggest organizing a building-wide LGBTQ-friendly Halloween decorating contest where neighbors can share resources and collaborate. This fosters community spirit and makes decorating more fun and budget friendly.

Host a Pumpkin-Carving Party: Recommend throwing a pumpkin-carving event, allowing friends and neighbors to come together for a fun, budget-friendly activity.

Halloween is a time to unleash your creativity, and with these thrifty LGBTQ decorating tips, you can transform your rental apartment into a spooky, Pride-filled haven. From rainbow pumpkins to drag queen glam and up-cycled decor, these ideas prove that you donā€™t need a huge budget to make a big impact. 

So, whether youā€™re hosting a Halloween party or just want to embrace the spooky season with a queer twist, these decorating tips will help you celebrate with flair and Pride. And remember, Halloween is about having fun, being unapologetically yourself, and expressing your unique identityā€”because in the end, thereā€™s nothing scarier than not being true to who you are. 


Scott Bloom is owner and Senior Property Manager, Columbia Property Management. For more information and resources, visit ColumbiaPM.com.

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