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Looking for a more eco-friendly alternative for your household products? Discover the extensive range of eco-friendly Heim home interior items offered at Wilcon Depot. Heim, Ezweep, Home basics, Handy helper, and Simple space offers a diverse range of items that are intended to assist you in living a more sustainable lifestyle without sacrificing quality. 

As sustainability becomes an increasingly important aspect of our daily lives, there is a growing demand for environmentally-friendly products. So we created a list of eco-friendly items that you can add to your home.

Heim Condiment Jars with Tray and Spoon

FEATURED STORIES

These eco-friendly condiment jars with tray and spoon are ideal for your kitchen. These reusable, sturdy, and easy-to-clean jars are made of high-quality glass and sustainable bamboo, and it also gives a sense of elegance to your countertops. 

Heim Spice Glass Jar Container

Our spice glass jar container is excellent for storing different spices while keeping their freshness and flavor intact. Made from durable glass, this eco-friendly container is also easy to clean and reuse.

Heim 3-piece Soy Dish with Bamboo Holder

For individuals who want to spruce up their dinner table while also promoting sustainability, Heim 3-piece soy dish set with bamboo holder is ideal. This product makes serving a dip during mealtime simple and hygienic.

Home Basics Bamboo Cutting Board

For an eco-friendly and sustainable kitchen, our bamboo cutting board is a must-have. Crafted from high-quality bamboo, this cutting board is sturdy, long-lasting and gentle on knives. It is also easy to clean and maintain, making it a perfect addition to any kitchen.

Ezweep Okiba Storage Bin with Bamboo Lid

Using storage bins will help you maintain your home tidy and organized. The Ezweep Okiba storage bin with a bamboo lid offers a sustainable solution for storing all of your belongings.

Simple Space Bamboo Tray

A bamboo tray is not only a stylish addition to your home, but also an eco-friendly option for serving food and drinks. The Simple space bamboo tray is made from sustainable materials and provides a beautiful presentation for your guests. It can also be a decorative piece to your table. 

Handy Helper Bamboo Kitchen Utensils

In addition to being a beautiful and sustainable kitchen accessory, Wilcon Depot’s Handy Helper bamboo utensils are highly versatile and durable. These utensils are made from eco-friendly bamboo, which is highly resistant to heat and stains, making them perfect for a variety of cooking tasks.

Heim Reusable Straw

By choosing a reusable straw, you can decrease the amount of plastic waste generated by single-use straws that often end up polluting our oceans and harming marine life. This stainless steel straw is durable, easy to clean, and can be used over and over again.

Home Basics Bamboo Dish Rack

These dish racks are made from sustainable bamboo material that is both durable and aesthetically pleasing. Additionally, this bamboo dish rack is designed to be space-efficient and can hold multiple plates, bowls, cups, and utensils for drying after washing.  It has a sleek and modern design that complements any kitchen style.

Simple Space Bamboo Dish Brush 

Another eco-friendly houseware product that Wilcon Depot offers is the Simple Spaces bamboo dish brush. This dish brush has a bamboo handle and high-quality bristles that may be used to gently scrub dirty dishes, the sink, and even the kitchen countertop.

Wilcon Depot is committed to providing sustainable and environmentally friendly options for customers who are looking to live a more eco-friendly lifestyle without sacrificing quality or style in their home products. Wilcon also has a large selection of housewares that are made with high-quality materials and are efficient.

Explore the limitless product selections that Wilcon offers, ranging from Tiles, Sanitarywares, Plumbing, Furniture, Home Interior, Building Materials, Hardware, Electrical, Appliances, and other DIY items.

Shop at any Wilcon Depot and Wilcon Home Essentials store nationwide or shop online at Wilcon Online Store by visiting shop.wilcon.com.ph.

For more information about Wilcon, you can log on to www.wilcon.com.ph or follow their social media accounts on Facebook, Instagram, and Tiktok and subscribe and connect with them on Viber Community, LinkedIn, and YouTube.

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Apache is functioning normally

Last Updated on October 21, 2022 by Mark Ferguson

Flipping houses can be a very lucrative business, but in most cases, you have to pay a lot of taxes. There are ways to pay fewer taxes flipping, but it takes some sacrifices from the investor and a lot of time. Most flips are taxed at the ordinary income tax rate, but in some cases, you may be able to pay only the long-term capital gain tax rate. I flip many houses a year and to me, it is not worth the time it would take to pay fewer taxes on flips, but for others, it may be worthwhile. I am not an accountant and for specific legal or tax questions please consult an attorney.

What are the tax rates on house flips?

Flipping houses is considered a business by the IRS, not an investment. Rental properties are considered an investment and have much more favorable treatment from the IRS. Rental income itself is considered ordinary income, but you can depreciate rentals, which is a huge tax advantage.

When you sell rental properties, the profit is often considered long-term capital gain and taxed at a much lower rate than ordinary income. If you make $30,000 on a rental property sale you may only pay 15 percent taxes instead of twice that if you are in one of the higher tax brackets. It is possible to flip a house and pay that lower tax rate, but there are many things you have to do to qualify your property.

Can a flip be considered a rental property?

The IRS tax codes are not the clearest things in the world. They tend to be very vague when giving instructions on how to figure taxes. The IRS says a rental property has to be held for a certain amount of time for it to qualify for long-term capital gains. However, they do not specify what that time frame is. Many people assume it is one year, but there are no guarantees with the IRS. Some even argue a property has to be rented, not just held for one year to qualify.

It is argued that you can buy a house you intend to flip, fix it up, rent it for one year, and then only pay long-term capital gains taxes. However, the IRS has many intricacies and you should always consult an accountant when trying to figure out the tax code. The IRS created this code because they felt dealers or professional house flippers should have to pay ordinary income tax on their earnings because it is their profession. Just like a doctor, real estate agent or most anyone has to pay ordinary taxes on their wages. If you are flipping ten houses a year, holding them all for over a year, and then trying to pay only long-term capital gains on the taxes, the IRS may say you are a dealer and you owe ordinary income taxes

Is it worth it to pay fewer taxes on flips?

For me, it is not worth holding properties for over a year to save money on taxes. If I have to rent them for a year it would really not be worth it. I try to sell my flips in six months or less, although that does not always happen. Here are the concerns I would have holding on to a flip longer than I have to.

  • I have a limited amount of money I can spend on flips. It takes almost $50,000 of my own cash to flip a house and I have from four to ten going at one time. If I had to hold them for one year I would not be able to flip as many houses, because I would not have the cash to keep buying them.
  • I have to pay interest and carrying costs when I hold flips. Every month I hold a flip I would have costs piling up that would eat into my profits. My carrying costs can be as much as $1,000 a month and I have cheap financing.
  • My loans are only one year long on my flips. If I held them longer I would have to pay off those loans or refinance them, which would greatly increase my costs.
  • The longer you hold a property the more risks there are the market could change. I buy rentals for cash flow and I am not as concerned about market changes, because I will make money with rent. You make money on flips from buying low and selling high. If you hold a property for over a year, the market could decrease and you could lose money.

All of these factors are assuming I hold a flip for one year, but what if I rented the flip to make up for the costs?

Does it make sense to rent a flip for one year to pay long-term capital gains taxes?

If I were to rent my flips after I fixed them up, I might be able to get away with paying long-term capital gains tax. Again, there are no guarantees because I am a professional flipper. Here are the problems I see with renting a flip.

  • I make a lot of repairs on my flips and I want them to look great when they are listed. If I rented the property I risk the tenants messing up all the new fixtures, paint, flooring, and more. I can’t wait to make repairs, because most of my flips need a lot of work and cannot be rented in the state I buy them in.
  • I would have to refinance the property or pay off my loans if I rented the houses as well.
  • After I repair the house I would have to take time finding tenants, checking references, advertising, and signing leases. Most tenants want a long-term lease, which means I would have to rent the house for a year. It takes time to repair the property and I would want to sell the property after the tenants moved out. I would have to hold the properties well over one year, probably close to 18 months to make renting work.

How much money would I save by holding these properties?

If I go to all this trouble and time to pay fewer taxes, what would I actually save? Assuming the long-term rate stays at 15 percent, I would save about 20 percent on taxes. However, there is a push to increase the long-term capital gain tax rate. I average about $30,000 in profit on each flip, which would equate to $6,000 in tax savings on each flip. That is a lot of money to save, but I am actually getting more money overall?

If I held my properties longer I would have to flip half the houses I do now. If I flip ten houses a year I would make $300,000. If I could only flip 5 houses a year, I would make $150,000 a year, but pay fewer taxes. If I made $300,000 paying 35 percent in taxes I would pay $105,000 to the IRS. If I made $150,000 paying 15 percent in taxes I would pay $22,500 to the IRS. I pay a lot less in taxes, but I don’t care how much I am paying, I care how much I am keeping. In one scenario I keep $195,000 and in the other scenario, I keep $127,500.

Not only would I make much less money holding the properties, but I would also risk the IRS saying sorry you don’t qualify since you are a dealer and I would have to pay the full taxes. I also risk the market changing and I didn’t even consider the refinancing costs or carrying costs, although rent may make up for some of that.

Can corporations lower the tax rate on flips?

New tax laws are constantly being enacted and using a corporation to flip houses may save you money. My accountant suggested I use an S corp and that is what I do. With the deductions corporations get I save money but those tax laws could always change.

Can you use a 1031 exchange on flips?

Some people say you can use a 1031 exchange to flip houses but that is a tricky situation. A 1031 exchange is meant for rental properties and investments, not fips. You most likely have to hold the property a year and rent it out but again please talk to a professional!

Conclusion

I make more money by paying more taxes on my flips because I can flip more houses. There is also less risk with the market and tenants. For some people who only flip one house a year, maybe it makes sense to turn it into a rental before you sell. Always talk to an accountant to make sure you are following the rules in these matters.

Build a Rental Property Empire

Categories Fix and Flips

Source: investfourmore.com

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My neighbor Leslie G. and her husband Doug decided to sell their house. Nestled at the end of a cul-de-sac in Murray, their coveted lot bordered a lush green common area that led to a creek. Nice. Leslie was also a master gardener and the home featured curved brick walkways, an outdoor fountain, and easy-to-care-for perennials. It had serious curb appeal. Based on an appraisal and neighborhood comps, they were hopeful they could get $400,000 for their home. But that was just their beginning point. By employing the following strategies, they ended up accepting an offer $35,000 higher and everyone was happy, including the buyer.

Seller strategies for a scorching market

Clean it and stage it. The G’s had a full life with kids, grandkids and worldwide travels. Their home was equally full. When I walked through the home prior to their listing going live, it was difficult to separate the G’s from their home because personal items were in every room and on every wall. It also reflected a specific style and had the wear and tear of most houses built in the 90’s. A stager spent an hour in the house telling Leslie what to do, then Leslie and Doug spent an entire week cleaning, painting and adding new decor items in select locations. The results were staggering. Cluttered surfaces were cleared. Windows sparkled and sunlight streamed in. An outdated master got a complete refresh with a new bedspread, towels, and rugs. Each room boasted one salient piece of artwork, other than that walls were bare and the wall holes filled in and painted. Fresh flowers and bright new pillows graced the deck and every inch of baseboard in the house was scrubbed to a bright white gleam.

The staged deck has half its normal furniture

Why it’s smart: By removing most of the furniture and all of the personal effects from the house and deck, your house will feel emotionally neutral and move-in-ready. Buyers don’t need to try to imagine the space without your things there, they can see it. And fewer pieces of furniture typically makes a space or room look much larger than its crowded counterpoint.  On Homie’s Provider Marketplace, you can find repairmen, stagers and cleaning teams to help you accomplish this quickly and easily.

Price at or above appraised value. Utah home prices are shooting up faster than bamboo, and desperate buyers are often willing to offer more than even 3-month old comps. Leslie and Doug decided to price their home above its appraised value, feeling that the appraisal did not adequately take the prime location into account.

Appraisals can vary considerably

Why it’s smart: No two appraisals come in at exactly the same value, and sometimes the value can range considerably. In addition, in a market where the housing shortage is forcing prices up above appraised value, your buyers might have enough liquidity so that a below-sale-price appraisal is a none issue. If it does become an issue, you can discuss your options with your Homie attorney. Even if you split or pay the entire difference, you still end up earning top dollar on your home. If you set the price at appraised value, you open the negotiations to buyers who have less to put down, which might serve you well if your home entices first-time buyers. Homie gives sellers appraisal options, including but not limited to a Home Value report, desktop appraisal and more.

Give yourself time to consider multiple offers. The G’s listing specified that they would only accept offers with a seller acceptance deadline at least 72 hours after submission. A common practice of today’s home buyers is to “rush” sellers into accepting their offers before other interested buyers have a chance to tour the house and place an offer. Not surprisingly, the G’s received two offers within a week. They asked both potential buyers to come back with their “highest and best offer,” both of which were above listing price. They also continued to show the house, which ended up being a very good idea.

Building in a 72-hour window gives you time to get your highest and best offer

Why it’s smart: By requiring that offers have a 72-hour acceptance window, you build in time to receive multiple offers. This doesn’t mean buyers can’t make an offer with a shorter deadline, and if you get a “rushed” offer that makes you happy, by all means, accept it.  Still, a 72-hour clause sets the expectation for buyers that you know your house is going to sell and will likely have multiple offers. It also gives you time to ask interested parties to come back with their highest and best offer. They may choose not to make an additional offer, so check with your Homie attorney about the best way to phrase a highest-and-best-offer request. If they do come back with their best offer, check to see that their downpayment amount is large enough that the appraisal will not likely be a problem.

Avoid buyers making offers higher than they’re actually willing to pay. Leslie and Doug didn’t want to get weeks down the road with an offer and then have to renegotiate. When they received offers that were contingent upon a certain appraisal amount, they took care to make sure those buyers were not using high bidding prices to secure the home while planning on renegotiating if the appraisal came in below the sales price. Both buyers ended up backing out of their offers, and the G’s were free to consider other offers that met their requirements. A few days later, they received a third offer from a family they felt would be a great fit for both the house and the neighborhood. They ended up accepting this third offer, which was not contingent upon an appraisal amount.

If you’re concerned about the appraisal, consider buyers with enough liquidity to avoid shortfall issues

Why it’s smart: Buyers are doing their best to find an affordable house, however, in such a hot market it does happen that buyers offer more than the house appraises for. In considering multiple offers, ask your Homie attorney to help you structure your contract to protect yourself against a potential shortfall.

Only accept offers from pre-approved, not pre-qualified, buyers. An offer is only attractive if the buyer can actually close. It’s unfortunate, but many sellers have accepted the “highest offer” only to see the loan fall through and find themselves back on the market two or three weeks later. Today any buyer can get a pre-qualification letter just by entering a few fields into an online platform and allowing a hard pull on their credit, but at this point they have provided no actual income or debt documentation.

Ask your buyers to get pre-approved, so you don’t have to start over 3 weeks into the sale

Why it’s smart: When you ask your buyers to go the extra step from pre-qualification to pre-approval, you know, not only that they’re qualified to buy your home, but also that they can and have provided all the documentation required by the lender to get approved for the loan. And, while they haven’t yet gone through underwriting, which requires a specific contract on a specific house, they can get all the way to that point, which strengthens their offer considerably. Pre-approval status also shortens the amount of time needed prior to a financing and appraisal deadline, which can shorten your closing while also reducing your risk. You can ask interested buyers, even pre-qualified buyers, to get pre-approved at Homie Loans, putting yourself in the best possible position.

In a market like this, use Homie

Yes, it’s a seller’s market, but that doesn’t mean showing your house dirty or cluttered will get you your best price. It also means different strategies come into play when considering, countering and accepting offers. Homie provides seasoned real estate attorneys to help Homie sellers understand the nuances of today’s market and negotiate each step of the process with confidence. To list your home with Homie, and speak to a real estate attorney about how you can get the best deal possible for your home, start here. 

Word’s out. Homie has hundreds of new zero-commission listings every month. 

Source: homie.com

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By Peter Anderson Leave a Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited April 22, 2009.

Over at Debt Kid he’s running a contest right now with a grand prize of his almost new DS-Lite! What do you have to do to win? Just write a blog post about your dumbest purchase ever, and trackback to his blog.

I thought I’d give it a shot. I recently wrote about my 5 biggest money mistakes, and some of those mistakes included dumb purchases , mostly buying tons of expensive gadgets that I didn’t need.

Today, I thought I’d give a different answer to the question, “What is your Dumbest Purchase Ever?”

My Dumbest Purchase

My dumbest purchase could have ended up being a good purchase, had it actually been used. When my wife and I were first married, we both got on a health kick, and decided to join our local gym, Lifetime Fitness.

This fitness club was state of the art having just been built a year or two prior to our joining. They had indoor and outdoor pools, fitness equipment of every kind, basketball courts, cafe, salon, masseuse, etc.

We were going to start going to the gym 5 times a week, and get back into shape. We were both going to shed those un-needed post marriage pounds.

Then life got in the way.

We hardly ever ended up going to the gym. It was several miles from our house and we just never were motivated enough to make the trip to the gym. Not even all the money we were wasting every month (around $70) was enough to get us up and out the door.

Finally after having our memberships for almost 2 years, we decided to finally cancel the memberships. All in all we probably went to the gym once or twice a month, and wasted well over a thousand dollars on membership fees. Lesson learned.

What’s your dumbest purchase ever? Head over to Debt Kid to share your story!

LINK:
Debt Kid – My Dumbest Purchase Ever Contest

Related Posts

Source: biblemoneymatters.com

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By Peter Anderson Leave a Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited April 28, 2009.

I lift my eyes up to the hills – where does my help come from? My help comes from the Lord, the maker of heaven and creator of earth. He will not let your foot slip. He who watches over you will not slumber; Indeed, he who watches over Israel will neither slumber nor sleep. The Lord watches over you – the Lord is your shade at your right hand; The sun will not harm you by day, nor the moon by night. The Lord will keep you from all harm – He will watch over your life; The Lord will watch over your coming and going both now and forevermore. Psalm 121

Often we may feel like we’re just treading water, or some of us might even feel like we’re beginning to slip below the waves of life’s troubles. This verse is a reminder that if we look to Jesus, he will save us in times of trouble, and he will only give us as much as we can handle. This is a very encouraging verse for me.

Related Posts

Source: biblemoneymatters.com

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What is the difference between a career and a job? Trent at The Simple Dollar recently suggested the following dichotomy:

  • A job is something you do simply to earn money; a career is a series of connected employment opportunities.
  • A job has minimal impact on your future work life, while a career provides experience and learning to fuel your future.
  • A job offers few networking opportunities, but a career is loaded with them.
  • When you work at a job, you should do the minimum without annoying the boss. When you’re in a career, you should go the extra mile, doing tasks beyond your minimum job description.

Though I agree with Trent on many things — our financial philosophies are very similar — I don’t agree with him on this. I believe that all jobs deserve your best effort, and I believe the distinction between a job and a career is artificial.

Doing My best

During the summer after my freshman year of college, I worked as a busboy at the Holiday Inn. I was the best busboy I could be. While the other guys stood around during slack times, I looked for ways to help in the kitchen or to prepare for the lunch rush.

As a result, I got better tips from the waitresses. The manager trained me to run the cash register. Sometimes I even got to help the pantry chef. I wasn’t looking for a career in food service, and I wasn’t trying to brown-nose. But I enjoyed the work and gave it all I had. This made the job fun, and earned respect from people who mattered: from my boss, and from his boss, the hotel manager.

Eventually I was given a chance to wait tables. Though I tried, I wasn’t particularly good with the morning breakfast crowd of businessmen and tourists. On the other hand, I was awesome at Sunday brunch. The bluehairs loved me. Before long, I was making more money working just six easy hours on Sunday than I had been while working 35 difficult hours during the rest of the week. And the busboys who used to stand around all the time were still standing around — doing the minimum (and earning the minimum).

Doing the Minimum

Two years later, I had a work-study job with the campus Summer Events department. Every afternoon from four to five, after my boss had left for the day, it was my job to answer the phone. And that’s all I ever did. I never asked for more work. I never showed any enthusiasm for the job. I just answered the phone.

Another student covered the phone for an hour every morning. He, however, did more than he was asked. Much more.

Neither of us realized it at the time, but our boss had pull. As a result, the other student landed a plum job with the admissions office, but my own application to join residence life was denied. I found out later that my lack of initiative in that seemingly meaningless work-study job had played a significant role in the decision not to hire me. For better or worse, this changed my destiny.

Lessons Learned

In my life, I’ve held a bewildering array of jobs. The two listed above are just representative examples. Few of my jobs have been related in the sense of a traditional “career”, but almost all of them have provided resources, skills, or connections that I could use in the future. I’m convinced that:

Every job is a part of your career

Some workers spend forty years in the same department at the same company. This is a career in the traditional sense of the word. But my father’s working life was also a career even though his jobs were largely unrelated: landscaper, flight instructor, box salesman. Your career is made up of all your jobs, whether they’re directly connected or not. Each one of them is important.

Every job provides skills and resources for the future

As much as I hated selling insurance door-to-door, that job taught me lessons that I can apply directly to work on Get Rich Slowly. I learned that it never hurts to ask. I learned how to deal with rejection and negative feedback. While working at the box factory, I learned how to communicate with a huge variety of people. My brief stint as a computer programmer helped me develop techniques I now use to focus while writing. Even my job as a busboy offered lessons about the value of hard work and a positive attitude.

Every job offers networking opportunities

You don’t know where life will lead you. You don’t know which co-workers or customers you will meet later and in what context. My brother Tony was our company’s box salesman for many years. Now he runs a firm that manufacturers nutritional supplements for animals. He’s constantly drawing on the network of contacts he made while at the box factory in order to gather information about manufacturing, shipping, packaging, and distribution. In many ways, a non-traditional career like Tony’s offers more opportunities to leverage relationships.

You should always do your best

Doing the minimum is rarely a good idea. Whether or not you think your current job is part of your career path, do your best. Do more than is asked of you. If you approach your work with a positive attitude, a willingness to learn, and a spirit of excellence, you will set yourself so far apart from your peers that your employers will be forced to take notice. It never hurts to do your best.

I’m not arguing that you should pour yourself into every job you ever have. But I do think you should treat most jobs as if they were important — because they are. They not only provide a source of immediate income, but it’s possible that they can lead to better things in the future.

The Difference Between a Career And a Job

Not all careers have a single unifying theme. Some careers are homogeneous, but many are not. My wife taught high school science for eight years — now she works in a lab doing analytical chemistry. I was a box salesman for fifteen years — now I’m a writer. For a decade, my friend Wayne sold cars — now he’s an accountant. Each of us has a career, even if the jobs do not seem to be related.

I think that for most people — whether they’re on a traditional career path or not — a job is just a way to earn money. There are people who love their work, but even then not all of them are in a career. For most people, work is simply a necessary evil.

So what’s the difference between a career and a job? I don’t believe there is one. A career is simply a lifetime of jobs, whether those jobs are related or not. And while it’s important to focus on your future goals, it’s even more important to focus on doing the best you can right now at your current job.

A Final Note

There’s one exception to the advice I’ve offered. In my story about the worst job I ever had, I wrote:

There are good jobs, and there are bad jobs. And then there are shitty jobs. You should strive to work only at good jobs. Sometimes you’ll have to endure bad in order to meet a greater goal. But you should never put up with a shitty job.

If you are miserable at work — whether because of your boss or your co-workers or the work itself, then find another job. Don’t burn your bridges, and don’t do anything rash, but slowly and methodically find a new place to work. In the meantime, do the minimum. You don’t have to love your job, but you should never let it ruin your life.

Source: getrichslowly.org

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Working Away From Work

I got my start as an entrepreneur completely by accident. You can read the whole story here, but the short version is that back in 1999, I needed to make some money. The bills were due, my third-shift job wasn’t going so well, and one day I took some photos of random stuff around my apartment and put it up on eBay. I made about $22 an hour right away, so I quit the night job and started building a wholesale business.

I’ve had a lot of different small businesses since those early days, including website design, publishing, and Google Adwords consulting. I’ve also had some crazy experiences along the way, and made a lot of mistakes.

Despite the mistakes and occasional uncertainly of not having a regular paycheck, my ten years of being out of the traditional workplace have made me a passionate believer in working for myself. I don’t have a large business — I work at home, and I don’t employ anyone directly. I have no plans to do that in the future either, because I’m comfortable with the super-small business model I call microbusiness.

Why Microbusiness?

I hear a lot of people say that they do not have the skill set to be entrepreneurs. They don’t like to manage people, they don’t want to borrow money, or they just don’t know how to start.

I completely understand those challenges — and that’s why I think anyone interested in entrepreneurship should start with a microbusiness.

A microbusiness is a very small business, one that you usually run on your own or with a few independent contractors. Some microbusiness owners have the goal of growing the company and employing people, but others of us are just happy to replace the income we could receive from a more traditional job.

What Kind of Business?

When most people set out to build a business, they usually end up building a job instead. With a job, you get paid to exchange your time for other people’s money. If you set up shop as a consultant, for example, you’re essentially doing the same thing. True, it may be better than working for someone else, because you’ll have more freedom — but there’s a flip side to self-employment and freedom. You’re still trading time for money, and with your own business, no one else is responsible if you fail.

While I do know some happy, thriving consultants, in general I think it’s better to create a business with automated products or services that can be sold without you directly trading time for money. Once you create your own products and set up a marketing plan, the products can then be sold 24/7 on your website or other online marketplaces.

Getting up in the morning to discover you have made money while sleeping is a great feeling.

If you have no idea what to sell, I recommend creating high-margin products, especially information products like e-books, multimedia publications, or other teaching materials. The value in these materials has to do with what you help people learn, not from any expensive production costs.

(The books E-Myth Revisited and No B.S. Sales Success are two great resources for thinking more about this.)

If you have a decent job, why should you worry about entrepreneurship and starting a microbusiness? Well, as the next section shows, relying solely on income from a job is the very slow route to wealth. It may work after forty years, but if you’re interested in speeding it up a little, the odds are that you’ll need some kind of business.

Get Rich Somewhere Between Quick and Slowly

I fully understand the motive between Get Rich Slowly as a counterbalance to active stock trading and get-rich-quick schemes, and I know there are millionaires next door who have slowly accumulated wealth through decades of progressive saving, index investing, and compounding interest. I also know that this route is far safer than active stock trading.

However, by working as an employee, only the very slow route will work, because there is really no other way most people can accumulate wealth with average incomes. I believe that anyone who is interested on achieving their own wealth needs to supplement their job income with external business income that they create for themselves.

This is the third way between the decades-long job savings approach as an employee and the risky stock trading approach. Maybe we should create a Get Rich at Faster-than-Average-Speed-but-not-too-Quickly site — but that’s not as catchy as Get Rich Slowly.

The Goal is Financial Independence

Instead of retirement, my ultimate financial goal is to achieve true independence in my finances, to the point where all of the work I do is done out of choice rather than necessity. There are a lot of good resources out there for figuring out what you need for your own financial independence journey—for example, the online forums EarlyRetirement.org and the book Work Less, Live More that J.D. has written about previously.

By choosing to focus on writing and world travel instead of building businesses, I expect that my financial independence goal will be set back at least a couple of years. Although I could certainly enjoy making more money, I’m comfortable with the tradeoff.

One important note about financial independence: Being financially independent doesn’t mean you will stop working.

I enjoy the work I do (most of the time), and I don’t think I could be happy if I sat on the beach all day long. You may also like the work you do, or you may have a desire to help other people by doing a different kind of work. What financial independence means is that you are able to choose what you do with your time. Regardless of any other philosophical differences, I expect that almost everyone would agree that this is truly a goal worth charting a course for.

Making Mistakes

I don’t think this essay would be complete without mentioning a few mistakes I’ve made along the way to creating a financial plan that works for me. If any of the above information sounds self-confident, I assure you that the selection of mistakes I include below is but a brief sample.

  • In my early business days when it was an enormous sum of money, I once lost $3,000 on eBay in a single weekend due to a minor listing error.
  • I forgot to renew at least two domain names that were later converted to passive, regular Adsense income…by the new owner.
  • I regularly gave up hundreds of dollars from 2000-2002 because I didn’t want to return any inbound sales calls.
  • Six years ago, I decided not to go to Cambodia when I was right on the Thai border. The visa would have cost $20, which I thought was a lot then. Now that I spend $500-1000 to go to most new countries, $20 is a true bargain.

I think I’m doing most things right now — at least right for me — but I am not immune to making stupid mistakes.

Putting It All Together

I haven’t been very traditional with anything, and personal finance is no exception. What I do won’t work for everyone, and I am the first to acknowledge that. But I also hope that some of these principles challenge your own beliefs and practices about money in a positive way.

I welcome feedback, questions, or disagreements in the comments below. Thanks to J.D. for letting me share, and thanks to everyone for reading.

Source: getrichslowly.org

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America was largely settled by immigrants: These cities lean into that fact.

Moving to a new place can be pretty scary for anyone, but it’s especially intimidating if you aren’t welcomed with open arms. This happens all too often, despite the fact that immigrants and migrants from other states are vital components of any area’s economic and social well-being.

In fact, they actually make up a significant portion of the workforce, and cities with higher immigrant populations tend to experience greater economic growth than other areas. Immigrants also help to offset population decline, which heads off economic disasters. Plus, they readily invest in their new area by opening businesses and thus creating jobs. In short, immigrants tend to show up and take care of business and enjoy upward mobility in the process.

These types of cities are the most welcoming to immigrants

The Bush Institute-SMU Economic Growth Initiative recently ranked cities based on how welcoming they are to newcomers. The outfit says that certain cities, like those that are “knowledge-centric,” are the best options. This includes cities renowned for their technology or finance industries — and college towns where education and forward-thinking are paramount.

Many such cities offer a lot of opportunities compared to where a person comes from, thanks to their economic and professional profile. So a city with a higher opportunity score is likely to provide the chance at a higher quality of life than some others. Now, let’s dissect this data, figure out what comprises a higher life quality and reveal these cities in all of their hospitable glory.

The first entry in the top 10 most welcoming cities in the U.S. is State College, Pennsylvania, the appropriately named home to Penn State University. From the period 2010-2021, the city saw an ever-so-slight decline in domestic migration’s contribution to population growth in the area (minus 3 percent), but experienced an uptick of 6 percent related to immigration.

With an overall population of just over 157,000, State College is one of the smallest on our list, but the numbers are hardly what you would call irrelevant. In fact, the opportunity score in State College is one of the highest on our list, at 117 percent, meaning that newcomers average greater quality of life/opportunity by 17 percent compared with their parents. Some of the influx of immigrants to this area is due to the fact that more than 11,000 students from various countries head to Penn State for its varied educational opportunities.

9. Orlando-Kissimmee-Sanford, Florida

Both domestic migration and immigration contributed to the population in the Orlando-Kissimmee-Sanford, Florida metro area, at basically the same rate of 9 percent! With a total population of nearly 2.7 million, this area is the third-largest on our list, which translates to big numbers, in terms of newcomers to the area. The opportunity score is slightly lower than that of State College, at 92 percent, however, it’s mitigated by the area’s reputation for being friendly to newcomers!

The draw is likely due to a preponderance of jobs thanks in part to the state’s booming tourism industry, but also the fact that central Florida already has a lot of immigrants makes it appealing to newbies. This section of Florida is a well-oiled machine for welcoming newcomers, and it translates into more and more each year.

8. Boston-Cambridge-Newton, Massachusetts/New Hampshire

Not so far away from the OG immigrant spot, Plymouth Rock is the metro area of Boston/Cambridge/Newton, which spans parts of Massachusetts and New Hampshire. Immigration to the area went up by 7 percent, although domestic migration took a dip of minus 4 percent.

The metro’s population totals 4.9 million, making even tiny immigration upticks extremely significant. These days, most immigrants to the area come from China, the Dominican Republic and Haiti, the City of Boston says, and are likely lured there by its opportunity score of 117 percent. They most often matriculate into jobs that are blue-collar (construction, production, repair, natural resources) or within the service industry. As these are all very important to growth, the immigrant population is filling a lot of important roles.

7. Naples-Marco Island, FL

Moving back to sunny Florida, the metro of Naples-Marco Island, Florida is considered another particularly hospitable area to newcomers. Found near the southern end of the state outside of Miami, many of these newbies are important to the local agriculture scene and are drawn to the area by such jobs. They’re also critical to recovery from all-too-frequent hurricanes that hit the area, which necessitate skilled hands at construction and other trade jobs.

Domestic migration actually contributed more to population growth here than anywhere else on our list (up 18 percent!) and immigration was also higher by 7 percent. The opportunity score hovers at 101 percent.

6. Fargo, North Dakota/Minnesota

The next metro area on our list could not be any more different from Naples if it tried, weather-wise. The far northern area of Fargo, North Dakota/Minnesota is especially dependent on immigrants to fill important positions within both the manufacturing and production industries, although many also work in sales and healthcare positions.

Many relocate to the chilly, but friendly area from the Philippines, in particular. Domestic migrants to the area were up by 7 percent, while immigrants were also higher by 4 percent. The opportunity score of 133 percent is one of the best on our list, meaning that someone who moves to this area can experience 33 percent worth of improvement in opportunity compared with where they came from.

5. Miami-Fort Lauderdale-Pompano Beach, Florida

Although domestic migration to the Miami/Fort Lauderdale/Pompano Beach area of Florida has declined by 5 percent in recent years, immigration is up quite a bit at 12 percent the highest uptick on our list). With nearly 6.1 million residents in this metro area, that translates to quite a few newcomers.

Miami has indeed turned into a hotbed of opportunity for Latines, in particular, as they frequently hold STEM positions and 73 percent of local businesses are owned by immigrants. They are also attending local colleges and universities and contribute tremendously to the local economy as consumers.

4. San Jose-Sunnyvale-Santa Clara, CA

The lone West Coast metro on our list, the area of San Jose-Sunnyvale-Santa Clara, California has experienced a decline in domestic migration of minus 11 percent, but an increase in immigration of 8 percent. Asian-born immigrants make up a significant portion of this population, although it certainly sees plenty of Latine newcomers, as well.

Many flock to the area for the tech opportunities it is known for, as well as the excellent school systems for their children. However, the ever-rising cost of living in California is making it difficult for many to stay in the area. That said, the opportunity is so rich in the area that the typical person enjoys 23 percent greater opportunity (score of 123 overall).

Moving back over to the Midwest, Iowa City is considered the third most welcoming city in America. Perhaps this is because the area has a reputation for welcoming immigrants historically. Whatever the reason, the city/state regularly take in people fleeing natural disasters or devastating conflicts in their home countries, including those from Ethiopia and Bosnia. There’s also a strong contingent of Hispanic people who come to the area looking for professional opportunities.

Both domestic migration (1 percent) and immigration to the area (7 percent) have increased in recent years, continuing this region’s longstanding reputation as one that welcomes others with open arms. Much like San Jose, the opportunity score in this area is 123 percent.

The central Minnesota city of St. Cloud is runner-up as the most welcoming city in America. Immigration to the metro is up by 4 percent, however, domestic migration declined in the same time period by three percent. St. Cloud boasts the highest opportunity score on our list at 145 percent, meaning that people can earn and live at a better quality by nearly 50 percent compared the previous generation.

Immigrants to the area tend to come from East African countries like Somalia, however, people from Kenya, Vietnam, Mexico and Korea also make up significant portions of the newcomer population. They contribute to the local economy by filling major gaps in the employment force, but also by paying taxes and contributing to Social Security.

1. Ames, Iowa

The smallest city on our list is also the most welcoming of them all. Slightly north of Des Moines is the unassuming metro of Ames, Iowa, with a population of just over 126,000 people.

Domestic migration is down slightly there, however, immigration is on the rise at 7 percent. This Iowa city is known as a safe haven for people seeking asylum from the dangers of their homeland. Many newcomers hail from Ukraine, Honduras and the particularly war-torn parts of Africa.

The community is very much a part of this effort, as volunteers with the Ames Interfaith Refugee Alliance advocate for refugees and help them acclimate to the area upon arrival. They also aim (pun intended) to educate people about immigration and the positive impact they can have on a given area. It also doesn’t hurt that the cost of living in Iowa is way below the national average and that the opportunity score is an impressive 132 percent.

A little bit of hospitality goes a long way

Obviously, there are still many kinks to work out related to the often difficult immigration process. That said, it’s good to know that some cities are doing their best to make it a positive experience for everyone hoping to breathe free in a new land.

Source: rent.com

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If you’re looking for inspiration for a timeless holiday table, look no further. I am completely inspired by snowy white tablescapes at the moment – it’s the perfect way to create a modern, clean Christmas look.

This ditch the kitsch idea has me ready to say buh-bye to all of my superfluous tableware. The stacks of random decorative dishes are getting a little out of control after all. There is no need for a collection of antique china, or a massive set of holiday-specific stuff to set a celebratory scene. You can in fact, festive up the essentials – white dishes, classic flatware and timeless linens. All you need to add is a touch of greenery, white tapers and some personal touches to make them all feel seasonal.

Replicating this look is easy thanks to the new home brand SNOWE. They can be your one stop shop for the quality pieces you know you should have invested in by now. Everything is designed with a minimalist sensibility and eliminates the paralysis of too much choice when it comes to stocking essentials. SNOWE’s founders,  Rachel Cohen and Andres Modak totally get it. Upon graduating from business school and moving back to NYC to set up their apartment, they realized that the world of home decor was overwhelming and cluttered. In response they got the idea to design and create the must-haves. As they explain:

“One night we’re throwing a dinner party. The next, we’re eating cereal on the couch. And through it all, we want to be surrounded by quality and thoughtful design that’s also attainable. And that’s why we created SNOWE: to bring people everywhere home essentials made from the best materials in the world, thoughtfully designed to be used over and over, for every moment and milestone.”

SNOWE’s dinnerware comes in timeless white (white dishes are known to make food look more appetizing) and made of the highest quality Limoges porcelain – it’s known to be super durable. Glassware is all made in Italy. I’m obsessed with the Essential Glass. There’s something about drinking wine out of a more utilitarian, stemless glass that makes it feel modern. Kind of European. I’m into it. Also, this dine and serve starter set is particularly tailor-made for a house-warming or wedding present. It’s kind of making me want to ditch all of my current stuff and restock my kitchen. SNOWE also offers bath goods and bedding that are all simple and streamlined by design — and available in sets — but a serious step up in quality then you get in places like giant blue box stores that shall not be named.

But back to your holiday table. If you need to build out your set of stemware to host a party of more than four, or make sure you have proper linens in your arsenal (because everyone should), there is no better time to ensure you – or your friends – are ready to play host. I’ve got my eye on this set of grey carafes and essential, use-for-anything-you’re-drinking, glasses. They’d add a bit of texture to a holiday table without being overwhelming. Whether you are looking for a hostess gift or need to up your own tabletop game, you will definitely find what you need with SNOWE. As they say themselves, SNOWE is meant to offer “everything you need and nothing you don’t.” I’ve selected my favorite picks from SNOWE for all the dinner-party throwers out there. These would be the perfect pieces to give to others or grab to get you through the entertaining season looking like you have your s*** together.

GET THE LOOK: 1 serving bowls / 2 linen cocktail napkins / 3 rinse & repeat and staycation candles / 4 wine glasses / 5 carafe and glassware set / 6 4-piece table setting / 7 hostess set / 8 champagne bucket 

And to help whet your dinner party-throwing appetite, SNOWE is also offering Apartment 34 readers 15% OFF all orders with code Apt34xSnowe. This offer is valid until December 11 @ 11:59 PM EST. To start your shopping CLICK HERE.

image 1 photography & tabletop design by homey oh my / image 2 unknown

This post is in partnership with SNOWE. all thoughts are 100% my own. thanks for supporting collaborations we’re excited about and that keep apartment 34’s doors open. 

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Source: apartment34.com