FOMO, or, “fear of missing out” when trading, applies to the anxiety of potentially passing up a profitable investment that an investor may experience. “FOMO” is a term commonly used to describe other anxiety-inducing situations as well. For investors who visualize a scenario where a stock rises sharply in value but goes unpurchased, the fear of missing out may cause them to make investing decisions that aren’t fully thought-through or in line with their investing strategy.
Making emotional, knee-jerk decisions when investing can derail your overall strategy, too. That’s why it can be important to try and avoid it the best you can.
What Is FOMO Trading?
FOMO trading happens when an investor allows their fear of missing out to drive their investing decisions — to the exclusion of other insights and instincts. This can trigger errors, creating problems in an otherwise well-managed investment portfolio.
For example, an impatient trader may rush to buy a hot stock even if it doesn’t fit into their investment strategy, or if the stock risks could jeopardize the portfolio’s stability.
Yet, buying any investment without proper research, risk assessment, or a planned exit strategy if the stock goes down, is the opposite of effective stock market investing.
Understanding Behavioral Finance
Sociologists use the term “behavioral finance” to describe the overall need to abandon rational thought and follow a herd to mitigate any FOMO anxieties. With behavioral finance, emotional and sociological influences replace scrutiny and logical thinking, which can significantly alter investment outcomes.
The fact that so many stock market rumors are stoked on social media, and that there are so many investors who rely on social media for investment ideas, only adds more pressure to give in to your anxieties, and buy a stock or other investment that may not necessarily fit in with your investing strategy.
Ways to Avoid FOMO Trading
How can an investor fight off FOMO tendencies and remain a stable and steadfast investor? It’s not easy given the pressure to trade frequently these days, but these tips may help.
Invest With a Plan in Mind
Investors who trade according to a well-thought out plan or investing strategy — and not with a FOMO mindset — are likely to be more prepared for better investment outcomes. By doing research, learning how to value a stock, and establishing your own tolerance for risk, you may be less likely to make rash or emotional decisions regarding your investments.
Stay Calm in Highly Volatile Markets
Many impulse trades come at a time when markets move fast. When investing in a volatile market, it’s especially important to trade with strategy in mind, rather than with your feelings.
Be Sensible About Trading
A single stock market trade rarely makes or breaks an investment portfolio. If you do hear about a can’t-miss stock and are anxious to pull the trigger and buy that stock, it can help to keep it in perspective: there’s always another market opportunity down the road. In other words, keep the big picture in mind.
Avoid Investing Money You Can’t Afford to Lose
The old adage of “never play with money you can’t afford to lose” is very much in play with FOMO investing. It’s never wise to chase a stock with large amounts of money your portfolio can’t afford to be without. In nearly all cases, if an investment’s risk is too high, and the potential impact to your portfolio is too acute, then it may be best to wait things out.
Don’t Mistake Social Media Advice For a Sound Investment Strategy
Social media captures a great deal of attention from market investors. But these platforms may be loaded with touts, short-sellers, penny stock promoters, and other investment shills who have their best interest in mind — not yours. As a rule, social media touts always talk up their gains but rarely mention their losses. Remember that maxim when you’re under the temptation of a FOMO trade.
The Takeaway
FOMO trading is a type of behavioral finance — in which an investor lets emotions like the fear of missing out replace logical, strategic thinking. FOMO trading often happens on a whim without much thought, which can significantly impact investment outcomes.That’s why it’s important to have a cogent strategy in place, and to keep your goals in mind when making investing decisions.
While it can be difficult to completely remove your emotions from your investing activities, keeping your strategy top of mind can help direct your decision-making process. Again: It’s not easy, but with some practice and experience in the markets, learning to skip investing trends might become a bit easier.
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We are going to under the cover and discover $13 an hour is how much per year.
For most Americans, this is hovering near minimum wage.
Let’s get this straight… This is not a livable wage.
If you are in high school or college and have support from your parents, then this is great spending money for you.
However, if you are making it on your own, $13 per hour will not make ends meet each month.
For most people, being at minimum wage is common and the goal is to make your way up the payscale and quickly!
In this post, we’re going to detail exactly what $13 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
When living close to minimum wage, you must be know how to manage money wisely.
More than likely, you are living paycheck to paycheck and struggling to survive to the next paycheck. Take a deep breath and make this minimum wage just a season.
The ultimate goal is to make the most of your hourly wage with inspirations to make more money.
If that is something you want too, then keep reading. You are in the right place.
$13 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $13 per hour is an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $13 = $27,040
$27040 is the gross annual salary with a $13 per hour wage.
Breakdown of 13 Dollars an hour is how much a year
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiple the hourly salary of $13 times 2,080 working hours, and the result is $27,040.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
Work Part Time?
But you may think, oh wait, I’m only working part time. So if you’re working part time, the assumption is working 20 hours a week at $13 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiple the hourly salary of $13 times 1,040 working hours, and the result is $13,520.
How Much is $13 Per Month?
On average, the monthly amount would average $2253.
Annual Amount of $27,040 ÷ 12 months = $2,253 per month
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $1,127.
How Much is $13 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $13 = $520 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $260.
How Much is $13 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $520 and double it.
$520 per week x 2 = $1040
Also, the other way to calculate this is:
40 hours x 2 weeks x $13 an hour = $1040
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $520.
How Much is $13 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $13 per hour = $104 per day.
If you work 10 hours a day for four days, then you would make $130 per day. (10 hours x $13 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $52.
$13 Per Hour is…
$13 per Hour – Full Time
Total Income
Yearly Salary (52 weeks)
$27,040
Yearly Wage (50 weeks)
$26,000
Monthly Wage (173 hours)
$2,253
Weekly Wage (40 Hours)
$520
Bi-Weekly Wage (80 Hours)
$1040
Daily Wage (8 Hours)
$104
Net Estimated Monthly Income
$1,720
**These are assumptions based on simple scenarios.
Paid Time Off Earning 13 Dollars an Hour
Does your employer offer paid time off?
As an hourly, close to minimum wage employee, more than likely you will not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees, get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $27,040 per year.
This is the same as the example above for an annual salary making $13 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiple the hourly salary of $13 times 2,000 working hours, and the result is $26,000.
40 hours x 50 weeks x $13 = $26000
You would average $104 per working day and nothing when you don’t work.
$13 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
This is why you always wondering why your take-home pay is so much less.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $27,040
Federal Taxes of 12%: $3,245
State Taxes of 4%: $1,082
Social Security and Medicare of 7.65%: $2,069
$13 an Hour per Year after Taxes: $20,645
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$20645 ÷ 2080 hours = $9.93 per hour
After estimated taxes and FICA, you are netting $9.93 an hour. That is $3.07 an hour less than what you planned.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
$13 an Hour Budget – Example
You are probably wondering can I live on my own making 13 dollars an hour? How much rent can you afford at 13 an hour?
Using our Cents Plan Formula, this is the best case scenario on how to budget your $13 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, above we calculated that $13 an hour was $9.93 after taxes. That would average $1720 per month.
According to the Cents Plan Formula, here is the high level view of a $13 per hour budget:
Basic Expenses of 50% = $860
Save Money of 20% = $344
Give Money of 10% = $172
Fun Spending of 20% = $344
Debt of 0% = $0
Obviously, that is not doable when living so close to minimum wage. So, you have to be strategic on ways to decrease your basic expenses and debt. Then, it will allow you more money to save and fun spending.
To further break down an example budget of $13 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $13 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$68
Savings
15-25%
$135
Housing
20-30%
$676
Utilities
4-7%
$135
Groceries
5-12%
$203
Clothing
1-4%
$23
Transportation
4-10%
$135
Medical
5-12%
$225
Life Insurance
1%
$19
Education
1-4%
$11
Personal
2-7%
$35
Recreation / Entertainment
3-8%
$56
Debts
0% – Goal
$0
Government Tax (including Income Tatumx, Social Security & Medicare)
15-25%
$533
Total Gross Income
$2253
**In this budget, prioritization was given to basic expenses. Thus, some categories like giving and saving were less.
$13 An Hour Salary Calculator
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $13.01-13.99.
This is super helpful if you make $13.12, $13.35, or $13.77.
Living on $13 Per Hour
Living close to minimum wage can be a very difficult situation.
Is it doable? Probably not for long.
You just have to be wiser (or frugal) with your money and how you spend the hard-earned cash you have been blessed with.
A lot of times when people are making under near the minimum wage mark, they feel like they are in this constant cycle that they can never keep up (which completely makes sense it is hard!).
When your thoughts are constantly focused on how you are struggling to keep up with bills and expenses, that is all you focus on.
You need to do is change your money mindset.
This is what you say to yourself… Okay, I am making near minimum wage for now. I have aspirations and goals to increase how much I make. For now, I am going to make sure that I am able to live on my 13 dollars per hour. I’m going to try and avoid debt and payday loans at all costs.
Other Tips to Help You:
Check your minimum wage for your state and city. You might find a higher minimum wage in a nearby city.
Look to living in a lower cost of living area to stretch your money.
Find ways to minizine your basic expenses.
Thrive with a minimalist lifestyle.
Decide if a roommate or moving back with your parents would help.
Bike or walk to work.
In the next section, we will dig into ways to increase your income, but for now, you must focus on living on $13 an hour.
5 Ways to Increase Your Hourly Wage
This right here is the most important section of this post.
You need to figure out ways to increase your hourly income because I’m going to tell you…you deserve more. You do a good job and your value is higher than what your employers pay you.
Even an increase of 50 cents to $13.50 will add up over the year. Even better $15 an hour!
1. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
2. Look for A New Job
Another way to increase your hourly wage is to look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $13 an hour is too much for you and you’re not able to enjoy life, maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
3. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
4. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
5. Earn Passive Income
The last way to increase your hourly wage is to start earning passive income.
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially and being financially sound happens.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $36,000 in a year. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Tips to Live on $13 an Hour
In this last section, grasp these tips on how to live on $13 an hour. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $13 an hour. Highlight these!
1. Spend Less Than you Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $13 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is your home $13 an hour minus all the taxes, FICA, social security, and medicare are taken out. That is your net income.
So, your net income has to be less than your net income.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make Saving Money Fun
You need to make saving money fun. Period.
It could be participating in a no spend challenge for the month.
Check out the 200 envelope challenge (which is doable on your income)
It could be challenging friends not to go to Target for a week.
Maybe changing your habits and not picking up takeout and planning meals.
Whatever it is challenge yourself.
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are 101 things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
4. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money is from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, it was not until week paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money. Set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt free journey.
Jobs that Pay $13 an Hour
You can always find jobs that pay $13 per hour. Polish up that smile, fill out the application, and be prepared with your interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
Cashiers
Back of the house restaurant staff
Landscape Laborer
Retail jobs
Paraeducators at schools
Janitors
Farm help
Warehouse workers
Fast Food Restaurants workers
$13 Per Hour Annual Salary
In this post, we detailed 13 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
How much is 13 dollars an hour annually…
$27,040
This is under $30000 per year and you need to make at least $45k a year.
In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Learn exactly how much do I make per year…
Know someone else that needs this, too? Then, please share!!
Nestled on the picturesque Gulf Coast of Florida, Naples has long been regarded as a captivating destination renowned for its pristine beaches, vibrant cultural scene, and luxurious lifestyle. As you contemplate the idea of moving to Naples, it is crucial to weigh the pros and cons of living in this sun-drenched city. From its flourishing economy and abundant recreational opportunities to its high cost of living and occasional natural hazards, there is a lot to consider. In this Redfin article, we will delve into the 10 most significant pros and cons of living in Naples. So whether you’re looking at apartments for rent in Naples, FL, browsing homes for sale, or you’re just curious about the area – keep reading to learn if Naples is right for you.
1. Breathtaking beaches
Naples, the gem of Florida’s Paradise Coast, offers a beach lover’s paradise with miles of pristine, soft, white sands lapped by turquoise waters. Not only are these beaches stunning, but they are also well-maintained and offer a serene place to relax, sunbathe, or engage in water sports. Naples’ shoreline delivers a visual feast and the quintessential coastal Florida lifestyle, from the picturesque Barefoot Beach Preserve to Lowdermilk Beach Park.
2. Vibrant arts and culture scene
For the culturally inclined, Naples won’t disappoint. The city brims with a rich and lively arts scene that echoes in its many galleries, performance venues, and arts festivals. Institutions such as the Naples Philharmonic and the Baker Museum host a variety of world-class performances and exhibitions. Art shows, craft fairs, and cultural festivals are staples in the local calendar, offering regular opportunities for residents to immerse themselves in a diverse tapestry of artistic expression.
3. A unique resort lifestyle
Living in Naples feels like an endless vacation with dozens of unique things to do, courtesy of its resort-like ambiance. From high-end shopping districts and gourmet dining venues to luxury spas, the city rolls out a sophisticated lifestyle that mirrors the world’s most popular resort destinations. The array of well-manicured golf courses, lavish residential communities, and top-notch services create a distinct sense of living in a luxurious retreat, offering residents the perks of a holiday year-round.
4. Endless outdoor adventures
Naples is an outdoor enthusiast’s dream, with a smorgasbord of activities. The city’s adjacency to the Everglades presents fantastic kayaking, hiking, bird watching, and wildlife spotting opportunities. Fishing and boating enthusiasts will love the accessibility to the Gulf of Mexico’s bountiful waters. Whether it’s a serene bike ride along the city’s picturesque paths or an exhilarating jet ski adventure, Naples caters to all shades of outdoor passions.
5. Golf capital of the world
For golf lovers, Naples is nothing short of paradise. Fondly known as the “Golf Capital of the World,” the city offers a stunning array of meticulously designed courses that cater to beginners and experts alike. With over 90 golf courses and glorious golfing weather that lasts almost all year, the city delivers an unmatched golfing experience–a compelling reason to consider Naples your new home.
Cons
1. High housing costs
One significant downside of living in Naples, Florida is the high cost of housing. The allure of the city’s stunning natural beauty and upscale amenities comes at a price, and that price often translates into steep housing costs. When it comes to Naples, Florida real estate, you’ll find that housing prices are considerably higher compared to other cities in Florida. As of April 2023, the median sales price in Naples reached $725,000 In comparison, the median sale price in Orlando stood at a more affordable $360,000, while in Tampa, it amounted to $420,000.
The demand for housing in this desirable location, coupled with limited available land for development, has resulted in a tight housing market and elevated prices. Additionally, the cost of living, in general, tends to be higher in Naples, which can further strain budgets and impact overall affordability.
2. Crowds of tourists
Being a popular tourist destination, Naples can get quite crowded, especially during the winter when ‘snowbirds’ from colder states flock to enjoy the balmy Florida weather. The influx of tourists can lead to overcrowded beaches, long wait times at restaurants, and a general increase in the hustle and bustle around the city, potentially hampering the tranquil lifestyle some residents seek.
3. Danger of hurricanes
Naples’ tropical paradise charm is somewhat tarnished by its vulnerability to hurricanes. Like much of Florida, the city faces an annual threat of these severe storms. This year alone, on average, floods have caused $1,399 in property damage for homeowners. While modern infrastructure and advanced warning systems mitigate the risks, residents must be prepared for potential evacuations, property damage, and the stress associated with hurricane season.
4. Low walkability
Despite its many charms, Naples falls short of walkability. The city has a below-average Walk Score of 35, indicating a strong dependence on cars. This can be a downside for those who prefer a lifestyle where amenities are within walking distance.
5. Scorching summer heat
Summers in Naples can be intensely hot and humid. The city’s tropical monsoon climate means that summer temperatures frequently rise into the 90s (Fahrenheit), with high humidity levels adding to the discomfort. Those not used to such weather might find the summer months challenging and need to consider this aspect before moving.
Is Naples, Florida a good place to live? The bottom line
With its breathtaking natural beauty, lively cultural scene, and endless opportunities for outdoor adventure, Naples certainly has its merits. However, there are downsides to be mindful of. The high cost of housing can pose a challenge for those on a budget, and the risk of hurricanes and occasional tourist crowds can be drawbacks. Ultimately, the decision to make Naples your home depends on your priorities, financial situation, and tolerance for the mentioned considerations. By carefully evaluating these factors, you can determine if Naples is the right fit for your desired lifestyle and aspirations.
Las Vegas, with its glitz, glamor, and vibrant entertainment scene, has long been synonymous with a thrilling vacation destination. However, when it comes to choosing a place to call home, many wonder if Las Vegas truly offers a desirable living environment. To help you make an informed decision, let’s explore the pros and cons of living in Las Vegas. From the excitement of world-class entertainment and access to outdoor pursuits to the challenges of scorching summers and traffic congestion, Las Vegas presents many different factors to consider. So, whether you’re looking to rent an apartment in Las Vegas, purchase a home in the area on Redfin, or simply curious about what it’s like living in Las Vegas, join us as we delve into 11 pros and cons to help you determine if Las Vegas is the right place for you to put down roots.
Pros of living in Las Vegas
1. An abundance of activities
Las Vegas, known as the “Entertainment Capital of the World,” offers an unparalleled number of activities for visitors of all interests. From iconic resorts along the famous Las Vegas Strip like Mandalay Bay and the Venetian to downtown’s Fremont Street, visitors can explore an array of casinos, live performances, and stage productions. Beyond the gaming and entertainment scene, Las Vegas also offers luxurious shopping experiences, championship golf courses, and rejuvenating spas. For outdoor enthusiasts, the city is surrounded by stunning natural landscapes, such as the nearby Red Rock Canyon and the Hoover Dam. Additionally, Las Vegas boasts a wide range of gourmet dining options, from celebrity chef restaurants to international cuisines. Some of which include Bouchon, Peppermill, and Carson Kitchen.
2. Food scene
Las Vegas has established itself as a food lover’s paradise, offering a remarkable culinary scene that rivals some of the world’s finest cities. Renowned for its diverse and extravagant dining options, Las Vegas boasts a multitude of Michelin-starred restaurants and celebrity chef establishments like Piccaso, Joel Robuchon, Gordon Ramsay Steak, and Giada.
The Las Vegas Strip alone is home to a staggering array of dining choices, where visitors can savor cuisines from around the globe, including Japanese, Italian, French, Mexican, and many more. Additionally, Las Vegas hosts numerous food festivals and events throughout the year, such as The Great American Foodie Fest and San Gennaro Feast. For those seeking a more casual dining experience, Las Vegas also offers an array of bustling food courts and food trucks like Block 16 Urban Food Hall and Eataly Food Court at Park MGM.
3. Access to nature
Despite its reputation as a bustling city of lights, Las Vegas provides easy access to breathtaking natural wonders and outdoor recreational opportunities. One of the most popular destinations is the nearby Red Rock Canyon National Conservation Area, known for its striking red sandstone formations and picturesque hiking trails. Adventurers can embark on scenic drives, rock climbing adventures, or simply take in the views. Moreover, within a few hours’ drive, outdoor enthusiasts can reach several national parks, including Death Valley National Park, Zion National Park, Bryce Canyon National Park, Joshua Tree National Park, and Grand Canyon National Park.
4. No state income tax
One of the significant advantages of living or working in Las Vegas is the absence of state income tax, as Nevada does not impose a personal income tax on its residents. This favorable tax environment means that individuals can keep a larger portion of their earnings compared to many other states in the United States.
5. Great airport
Las Vegas is served by Harry Reid International Airport, which is one of the busiest airports in the United States. As a major transportation hub, Harry Reid International Airport offers excellent connectivity to domestic and international destinations, making it convenient for travelers from around the world. The airport is located just a few miles south of the Las Vegas Strip, allowing for easy access to the city’s resorts and attractions.
6. An up-and-coming sports city
Las Vegas has rapidly emerged as a thriving destination for sports boasting an exciting and up-and-coming sports scene. The National Hockey League (NHL) welcomed the Vegas Golden Knights in 2017. Since its inception, the Golden Knights have made it to two Stanley Cup Finals, one in 2018 and another in 2023. Furthermore, professional football arrived in Las Vegas with the relocation of the Oakland Raiders to become the Las Vegas Raiders in 2020. The state-of-the-art Allegiant Stadium, situated just off the Strip, serves as the team’s impressive home venue. Las Vegas also is home to the Las Vegas Aces, a professional women’s basketball team. The Aces have quickly become a force to be reckoned with, boasting a talented roster and consistently making their mark in the league.
Cons of living in Las Vegas
7. The summer heat
Las Vegas is notorious for its scorching summer heat, creating challenging conditions for residents and visitors. With temperatures often soaring well above 100 degrees Fahrenheit (37 degrees Celsius), the intense heat can be overwhelming and uncomfortable. The relentless sun and lack of shade make outdoor activities during the daytime difficult.
8. Lack of public transportation
One of the challenges in Las Vegas is the limited availability and effectiveness of public transportation. While the city has made efforts to improve its transportation infrastructure, including the implementation of a bus system and the Las Vegas Monorail, the overall public transportation network remains relatively underdeveloped compared to other major cities. The bus system, while serving some areas, may not offer comprehensive coverage, resulting in longer travel times and limited access to certain destinations. The Las Vegas Monorail primarily operates along the Las Vegas Strip, making it convenient for travelers staying in that area but less useful for those needing to reach other parts of the city. As a result, many residents and visitors rely heavily on private vehicles or rideshares to navigate Las Vegas.
9. Lack of greenery
One of the drawbacks of Las Vegas is its noticeable lack of greenery. The desert landscape surrounding the city means that lush vegetation and expansive green spaces are scarce. Instead, visitors and residents are greeted with a predominance of arid desert terrain characterized by rocky terrain, sparse vegetation, and a limited presence of trees and plants. This scarcity of greenery can make the city feel stark and somewhat monotonous in terms of natural scenery.
10. You can’t see stars
One disappointing aspect of Las Vegas is the difficulty in seeing stars due to light pollution. The city’s vibrant nightlife and dazzling displays along the famous Las Vegas Strip create a continuous glow that permeates the sky, obscuring the natural beauty of the stars. The abundance of bright lights, neon signs, and illuminated buildings results in light pollution, which significantly diminishes the visibility of celestial objects. If you want to go star-gazing, expect to drive well outside the city before you begin to see twinkles in the night’s sky.
11. No four seasons
One aspect that some may find disappointing about Las Vegas is the absence of four distinct seasons. The city’s desert climate contributes to hot, dry summers and mild winters, with relatively little variation throughout the year. This lack of distinct seasonal changes can make it feel as though the year blends together without clear transitions between spring, summer, fall, and winter.
Movies are great because they can transport us to a world and environment that is different from our day-to-day existence. Some movies take it a step too far, and become a mental gymnastics course for those watching.
We enjoy these movies and put a lot of value on the storyline and acting. Some of the highest-paid female celebrities are in these films.
1. Mother!
Mother! Is a lot to wrap your head around. It is an anxiety-producing mind wrenching film.
After watching this film, you may need to meditate and work on your optimism.
Rotten Tomatoes summarizes it with, “There’s no denying that mother! is the thought-provoking product of a singularly ambitious artistic vision, though it may be too unwieldy for mainstream tastes.”
2. The Fifth Element
The Fifth Element was out there for sure. With its 1997 release, it was definitely a weird mix of characters and interest. One Redditor commented, “A bit wierd, but enjoyable nontheless.”
Rotten Tomatoes says, “A hodgepodge of elements that don’t comfortably coalesce.” and “Besson’s futuristic fable is flawed by a messy narrative which strains to incorporate far too many grotesque and eccentric characters.”
3. Being John Malkovich
This film is also out there. One Rotton Tomatoes reviewer said, “Kaufman and Jonze steer us through a truly twisted psychological and existential swamp.”
4. Bone Tomahawk
One Redditor says, “There’s one scene in it that always sticks with me too 😬”
Rotten Tomatoes confirms the consensus that it is in fact out there “Bone Tomahawk’s peculiar genre blend won’t be for everyone, but its gripping performances and a slow-burning story should satisfy those in search of something different.”
5. Sharknado
Sharknado is intentionally random. Rotten Tomatoes says, “This campy franchise fuses two of the most fearsome destructive natural forces on the planet into a single entity and calls upon a motley crew of survivors to save humanity from its path of carnage.”
Even the movie cover art is has memes on it. It is just the title and then says, “Enough Said!”
While this movie is strange, over the top, and predictable. It is still very entertaining.
6. Uncut Gems
Uncut Gems is a hyper-anxiety-inducing film. To the point where it is actually entertaining to watch.
Rotten Tomatoes says “The thing that elevates it above all else is the frenetic energy that infuses every scene, yet calibrated so perfectly so that it stays, barely, on the right side of frustrating. There’s nothing more thrilling than that.”
7. Donnie Darko
One Redditor says “Donnie Darko. Seen it 3 times and I still don’t understand it.” to which another replies, “It makes sense on the 28th time.” This really summarizes the weirdness of Donnie Darko. It is just a lot to get your mind around.
Source: Reddit.
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Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
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Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
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We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
The dividend payout ratio is the ratio of total dividends paid to shareholders relative to the net income of the company. Investors can use the dividend payout formula to gauge what fraction of a company’s net income they could receive in the form of dividends.
While a company will want to retain some earnings to reinvest or pay down debt, the extra profit may be paid out to investors as dividends. As such, investors will want a way to calculate what they can expect if they’re a shareholder.
Understanding Dividends and How They Work
Before calculating potential dividends, investors will want to familiarize themselves with what dividends are, exactly.
A dividend is when a company periodically gives its shareholders a payment in cash, or additional shares of stock, or property. The size of that dividend payment depends on the company’s dividend yield and how many shares you own.
Many investors look to buy stock in companies that pay them as a way to generate regular income in addition to stock price appreciation. A dividend investing strategy is one way many investors look to make money from stocks and build wealth.
Investors can take their dividend payments in cash or reinvest them into their stock holdings. Not all companies pay dividends, and those that do tend to be large, established companies with predictable profits — blue chip stocks, for example. If an investor owns a stock or fund that pays dividends, they can expect a regular payment from that company — typically, each quarter. Some companies may pay dividends more frequently.
Pros and Cons of Investing in Dividend Stocks
Since dividend income can help augment investing returns, investing in dividend stocks — or, stocks that tend to pay higher than average dividends — is popular among some investors. But engaging in a strategy of purchasing dividend stocks has its pros and cons.
As for the advantages, the most obvious is that investors will receive dividend payments and see bigger potential returns from their holdings. Those dividends, in addition to stock appreciation, allow for two potential ways to generate returns. Another benefit is that investors can set up their dividends to automatically reinvest, meaning that they’re holdings grow with no extra effort.
Potential drawbacks, however, are that dividend stocks may generate a higher tax burden, depending on the specific stocks. You’ll need to look more closely at whether your dividends are “ordinary” or “qualified,” and dig a little deeper into qualified dividend tax rates to get a better idea of what you might end up owing.
Also, stocks that pay higher dividends often don’t see as much appreciation as some other growth stocks — but investors do reap the benefit of a steady, if small, payout.
What Is the Dividend Payout Ratio?
The dividend payout ratio expresses the percentage of income that a company pays to shareholders. Ratios vary widely by company. Some may pay out all of their net income, while others may hang on to a portion to reinvest in the company or pay off debt.
Generally speaking, a healthy range for payout ratios is from 35% to 55%. There are certain circumstances in which a lower ratio might make sense for a company. For example, a relatively young company that plans to expand might reinvest a larger portion of its profits into growth.
How to Calculate a Dividend Payout
Calculating your potential dividend payout is fairly simple: It requires that you know the dividend payout ratio formula, and simply plug in some numbers.
Dividend Payout Ratio Formula
The simplest dividend payout ratio formula divides the total annual dividends by net income, or earnings, from the same period. The equation looks like this:
Dividend payout ratio = Dividends paid / Net income
Again, figuring out the payout ratio is only a matter of doing some plug-and-play with the appropriate figures.
Dividend Payout Ratio Calculation Example
Here’s an example of how to calculate dividend payout using the dividend payout ratio.
If a company reported net income of $120 million and paid out a total of $50 million in dividends, the dividend payout ratio would be $50 million/$120 million, or about 42%. That means that the company retained about 58% of its profits.
Or, to plug those numbers into the formula, it would look like this:
~42% = 50,000,000 / 120,000,000
An alternative dividend payout ratio calculation uses dividends per share and earnings per share as variables:
Dividend payout ratio = Dividends per share / Earnings per share
A third formula uses retention ratio, which tells us how much of a company’s profits are being retained for reinvestment, rather than paid out in dividends.
Dividend payout ratio = 1 – Retention ratio
You can determine the retention ratio with the following formula:
Retention ratio = (Net income – Dividends paid) / Net income
You can find figures including total dividends paid and a company’s net income in a company’s financial statements, such as its earnings report or annual report.
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Why Does the Dividend Payout Ratio Matter?
Dividend stocks often play an important part in individuals’ investment strategies. As noted, dividends are one of the primary ways stock holdings earn money — investors also earn money on stocks by selling holdings that have appreciated in value.
Investors may choose to automatically reinvest the dividends they do earn, increasing the size of their holdings, and therefore, potentially earning even more dividends over time. This can often be done through a dividend reinvestment plan.
But it’s important to be able to know what the ratio results are telling you so that you can make wise decisions related to your investments.
Interpreting Dividend Payout Ratio Results
Learning how to calculate dividend payout and use the payout ratio is one thing. But what does it all mean? What is it telling you?
On a basic level, the dividend payout ratio can help investors gain insight into the health of dividend stocks. For instance, a higher ratio indicates that a company is paying out more of its profits in dividends, and this may be a sign that it is established, or not necessarily looking to expand in the near future. It may also indicate that a company isn’t investing enough in its own growth.
Lower ratios may mean a company is retaining a higher percentage of its earnings to expand its operations or fund research and development, for example. These stocks may still be a good bet, since these activities may help drive up share price or lead to large dividends in the future.
Dividend Sustainability
Paying attention to trends in dividend payout ratios can help you determine a dividend’s sustainability — or, the likelihood a company will continue to pay dividends of a certain size in the future. For example, a steadily rising dividend payout ratio could indicate that a company is on a stable path, while a sudden jump to a higher payout ratio might be harder for a company to sustain.
That’s knowledge that may be put to use when trying to manage your portfolio.
It’s also worth noting that there can be dividend payout ratios that are more than 100%. That means the company is paying out more money in dividends than it is earning — something no company can do for very long. While they may ride out a bad year, they may also have to lower their dividends, or suspend them entirely, if this trend continues.
Dividend Payout Ratio vs Dividend Yield
The dividend yield is the ratio of a stock’s dividend per share to the stock’s current price:
Dividend yield = Annual dividend per share/Current stock price
As an example, if a stock costs $100 and pays an annual dividend of $7 the dividend yield will be $7/$100, or 7%.
Like the dividend payout ratio, dividend yield is a metric investors can use when comparing stocks to understand the health of a company. For example, high dividend yields might be a result of a quickly dropping share price, which may indicate that a stock is in trouble. Dividend yield can also help investors understand whether a stock is valued well and whether it will meet the investor’s income needs or fit with their overall investing strategy.
Dividend Payout Ratio vs Retention Ratio
As discussed, the retention ratio tells investors how much of a company’s profits are being retained to be reinvested, rather than used to pay investors dividends. The formula looks like this:
Retention ratio = (Net income – Dividends paid) / Net income
If we use the same numbers from our initial example, the formula would look like this:
~58% = (120,000,000 – 50,000,000) / 120,000,000
This can be used much in the same way that the dividend payout ratio can, as it calculates the other side of the equation — how much a company is retaining, rather than paying out. In other words, if you can find one, you can easily find the other.
The Takeaway
The dividend payout ratio is a calculation that tells investors how much a company pays out in dividends to investors. Since dividend stocks can be an important component of an investment strategy, this can be useful information to investors who are trying to fine-tune their strategies, especially since different types of dividends have different tax implications.
In addition, the dividend payout ratio can help investors evaluate stocks that pay dividends, often providing clues about company health and long-term sustainability. It’s different from other ratios, like the retention ratio or the dividend yield.
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FAQ
How do you calculate your dividend payment?
To calculate your exact dividend payment, you’d need to know how many shares you own, a company’s net income, and the number of total outstanding shares. From there, you can calculate dividend per share, and multiply it by the number of shares you own.
Are dividends taxed?
Yes, dividends are taxed, as the IRS considers them a form of income. There may be some slight differences in how they’re taxed, but even if you reinvest your dividend income back into a company, you’ll still generate a tax liability by receiving dividend income.
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Want to find some of the best places to work out in Philly? Look no further than your own apartment home.
A slightly more expensive city on average, living in Philadelphia means having all the fun and convenience at your fingertips. What will be important for you to get to do if you decide to move here? Is it all about drinks with friends on the weekends, making nice dinners at home or something else?
You don’t want to have to sacrifice any of those bonus activities you love, which means you want to make your workout reasonable. The best way to do this? Find a Philadelphia apartment that has a gym already. You’ll work out for free.
Where are the best gyms in Philadelphia you ask? We know. Here are some of our favorites.
Source: Rent. / The Alexander
Two-story ceilings and paneled windows that reach all the way to the top bring so much light into the fitness center at The Alexander. Pops of yellow and great city views make this state-of-the-art gym attractive. You’ll find cardio machines, strength equipment and free weights along with an indoor lap pool. The Alexander also has tennis courts.
The Alexander is in Logan Square, a northwest neighborhood full of culture. Though Logan Square is a quieter community, you’re still close to all the action of Philadelphia living here.
Source: Rent. / Piazza Alta
Situated in the middle of the charming and quirky neighborhood of Northern Liberties, Piazza Alta has a massive, multi-room gym. The space is bright and sleek, with floor-to-ceiling windows and cardio and strength equipment nicely spaced out. The fitness center at Piazza Alta also has a yoga studio and boxing trainer/CrossFit box set up.
Close to bars, restaurants and boutiques, this non-smoking, green community also features a palazzo, pool and hot tub, as well as a recreation room and playground.
Source: Rent. / The Franklin Residences
On-site retail shops, resident events and a clean and spacious fitness center are just some of the amenities at The Franklin Residences. Open 24 hours, the gym is bright, with an entire wall of mirrors on one side and a black-and-white mural on the other. You’ve access to free weights, cardio machines and strength equipment.
Within the vibrant performing arts neighborhood of Avenue of the Arts South, The Franklin Residences are right in the heart of Philadelphia.
Source: Rent. / The Left Bank
With a nice collection of strength equipment and multiple rows of cardio machines, the gym at The Left Bank has it all. You’ll even find a separate fitness studio and a fitness lounge. Other amenities include a rooftop deck, a game room with billiards, a theater room and a clubroom with a catering kitchen.
This University City community is a perfect spot for students and academics alike. It’s close to both the University of Pennsylvania and Drexel University.
Source: Rent. / The Poplar
Within East Poplar, you’ll find the aptly named community, The Poplar. This amenity-filled spot has a rooftop terrace with city and waterfront views. There are also three infinity-edge saltwater pools, two hot tubs and private cabanas.
The gym at The Poplar is a shiny and modern space with large windows. There are a lot of cardio and strength machines, CrossFit boxes and a separate fitness studio for yoga.
Source: Rent. / Apex Manayunk
The art deco-inspired design gives the gym at Apex Manayunk a unique feel. Among the cardio and weight machines, what really stands out are the pops of red in the SYNRGY360 CrossFit box. It has multiple stations that really help make a complete workout possible. There’s also an outdoor jogging trail for those who want to add some fresh air to their exercise routine.
In the trendy Lower Northwest community, Apex Manayunk also features a game room with ping pong, arcade games, billiards and shuffleboard. There’s a bocce ball court, Bark Park and a barbecue and deck area as well.
Source: Rent. / Locust on the Park
For some quieter urban living, many folks turn to Fitler Square. Located right on the Schuykill River, this welcoming neighborhood is home to Locust on the Park. The gym here is open 24 hours. It’s nicely organized and bright, with pops of color throughout.
Full of amenities, the big attraction to living in Locust on the Park is that it’s next to Schuykill River Park. This green space, which runs along the river, has everything, from walking/biking paths to a pool, dog run and playground.
Source: Rent. / Solo on Chestnut
With a gaming lounge, roof deck, roof dog run and study lounges, the smoke-free community of Solo on Chestnut comes fully stocked. The fitness center pops thanks to a colorful, abstract wall mural and wall-length mirrors. Good windows and lighting really complete the space’s perfect brightness. Containing everything from free weights to strength equipment, a CrossFit box and more, you’ll get the perfect workout here.
Located in the eclectic and diverse neighborhood of West Philadelphia, Solo on Chestnut works to tap into the local vibe with its decor.
Source: Rent. / The Atlantic
Impressive and classy, with a living wall of greenery and marble columns, The Atlantic boasts a large gym with plenty of strength machines, cardio equipment and a CrossFit box. Separated by a wall of windows, you’ll also find a spin and yoga studio with virtual classes.
Another Avenue of the Arts South neighborhood gem, The Atlantic is a LEED Gold green building with his-and-her spas, a waterfall-edge pool and oversized hot tub, a rooftop dog park, a music room and more.
Source: Rent. / Palazzo at the Piazza
Also in Northern Liberties, you’ll find Palazzo at the Piazza. The most impressive amenity here is the pool. There are a ton of lounge chairs, with a separate in-water sunbathing area. Cabanas and comfy patio furniture, which includes beds, round out the area.
The fitness center impresses too, with a green, living wall, floor-to-ceiling windows and neat clusters of exercise machines. There’s also a bright and spacious spin studio and sauna.
Grab a home workout at one of the best gyms in Philadelphia
There are a million things to do in Philadelphia, and if you want to do them all. Nix the need to pay for a gym membership and find a Philadelphia apartment with its own fitness center. You’ll free up more of your fun money and stay in shape at the same time.
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We are going to under the cover and discover $12 an hour is how much per year.
For most Americans, this is hovering near minimum wage.
Let’s get this straight… This is not a livable wage.
If you are in high school or college and have support from your parents, then this is great spending money for you.
However, if you are making it on your own, $12 per hour will not make ends meet each month.
For most people, being at minimum wage is common and the goal is to make your way up the payscale and quickly!
In this post, we’re going to detail exactly what $12 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
When living close to minimum wage, you must know how to manage money wisely.
More than likely, you are living paycheck to paycheck and struggling to survive to the next paycheck. Take a deep breath and make this minimum wage just a season.
The ultimate goal is to make the most of your hourly wage with inspirations to make more money.
If that is something you want too, then keep reading. You are in the right place.
$12 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $12 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $12 = $24960
$24960 is the gross annual salary with a $12 per hour wage.
Breakdown Of 12 Dollars An Hour Is How Much A Year
Typically, the average work week is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiple the hourly salary of $12 times 2,080 working hours, and the result is $24,960.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
Work Part Time?
But you may think, oh wait, I’m only working part time. So if you’re working part time, the assumption is working 20 hours a week at $12 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiple the hourly salary of $12 times 1,040 working hours, and the result is $12480.
How Much is $12 Per Month?
On average, the monthly amount would average $2,080.
Annual Amount of $24000 ÷ 12 months = $2080 per month
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $1040.
How Much is $12 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $12 = $480 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $240.
How Much is $12 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $480 and double it.
$480 per week x 2 = $960
Also, the other way to calculate this is:
40 hours x 2 weeks x $12 an hour = $960
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $480.
How Much is $12 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight hour work day.
8 hours x $12 per hour = $96 per day.
If you work 10 hours a day for four days, then you would make $120 per day. (10 hours x $12 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $48.
$12 Per Hour is…
$12 per Hour – Full Time
Total Income
Yearly Salary (52 weeks)
$24,960
Yearly Wage (50 weeks)
$24,000
Monthly Wage (173 hours)
$2,080
Weekly Wage (40 Hours)
$490
Bi-Weekly Wage (80 Hours)
$960
Daily Wage (8 Hours)
$96
Net Estimated Monthly Income
$1,588
**These are assumptions based on simple scenarios.
Paid Time Off Earning 12 Dollars an Hour
Does your employer offer paid time off?
As an hourly, close to minimum wage employee, more than likely you will not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees, get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $24960 per year.
This is the same as the example above for an annual salary making $12 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiple the hourly salary of $12 times 2,000 working hours, and the result is $24,000.
40 hours x 50 weeks x $12 = $24000
You would average $96 per working day and nothing when you don’t work.
$12 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
This is why you always wondering why your take-home pay is so much less.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $24,960
Federal Taxes of 12%: $2,995
State Taxes of 4%: $998
Social Security and Medicare of 7.65%: $1,909
$12 an Hour per Year after Taxes: $19,057
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$19057 ÷ 2080 hours = $9.16 per hour
After estimated taxes and FICA, you are netting $9.16 an hour. That is $2.84 an hour less than what you planned.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
$12 an Hour Budget Example
You are probably wondering can I live on my own making 12 dollars an hour? How much rent can you afford on 12 an hour?
Using our Cents Plan Formula, this is the best case scenario on how to budget your $12 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, above we calculated $12 an hour was $9.16 after taxes. That would average $1588 per month.
According to the Cents Plan Formula, here is the high level view of a $12 per hour budget:
Basic Expenses of 50% = $794
Save Money of 20% = $318
Give Money of 10% = $159
Fun Spending of 20% = $318
Debt of 0% = $0
Obviously, that is not doable when living so close to minimum wage. So, you have to be strategic on ways to decrease your basic expenses and debt. Then, it will allow you more money to save and fun spending.
To further break down an example budget of $12 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $12 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$62
Savings
15-25%
$104
Housing
20-30%
$645
Utilities
4-7%
$125
Groceries
5-12%
$187
Clothing
1-4%
$21
Transportation
4-10%
$125
Medical
5-12%
$208
Life Insurance
1%
$18
Education
1-4%
$10
Personal
2-7%
$31
Recreation / Entertainment
3-8%
$52
Debts
0% – Goal
$0
Government Tax (including Income Tatumx, Social Security & Medicare)
15-25%
$492
Total Gross Income
$2,080
**In this budget, prioritization was given to basic expenses. Thus, some categories like giving and saving were less.
$12 an Hour Calculator
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $12.01-12.99.
Here is a handy calculator to use if you make $12.60, $12.30, or $12.75 an hour.
Living on $12 Per Hour
Living close to minimum wage can be a very difficult situation.
Is it doable? Probably not for long.
You just have to be wiser (or frugal) with your money and how you spend the hard-earned cash you have been blessed with.
A lot of times when people are making under near the minimum wage mark, they feel like they are in this constant cycle that they can never keep up with (which completely makes sense it is hard!).
When your thoughts are constantly focused on how you are struggling to keep up with bills and expenses, that is all you focus on.
You need to realize that your mindset is everything.
This is what you say to yourself… Okay, I am making near minimum wage for now. I have aspirations and goals to increase how much I make. For now, I am going to make sure that I am able to live on my 12 dollars per hour. I’m going to try and avoid debt and payday loans at all costs.
Other Tips to Help You:
Check your minimum wage for your state and city. You might find a higher minimum wage in a nearby city.
Look to living in a lower cost of living area to stretch your money.
Find ways to minizine your basic expenses.
Thrive with a minimalist lifestyle.
Decide if a roommate or moving back with your parents would help.
Bike or walk to work.
In the next section, we will dig into ways to increase your income, but for now, you must focus on living on $12 an hour.
5 Ways to Increase Your Hourly Wage
This right here is the most important section of this post.
You need to figure out ways to increase your hourly income because I’m going to tell you…you deserve more. You do a good job and your value is higher than what your employers pay you.
Even an increase of 50 cents to $12.50 will add up over the year. Even better $13 an hour or $15 an hour!
1. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
2. Look for A New Job
Another way to increase your hourly wage is to look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $12 an hour is too much for you and you’re not able to enjoy life, maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
3. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
4. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine to five position or typical 40-hour-a-week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
5. Earn Passive Income
The last way to increase your hourly wage is to start earning passive income.
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially and being financially sound happens.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $75,000 in a year. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Tips to Live on $12 an Hour
In this last section, grasp these tips on how to live on $12 an hour. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $12 an hour. Highlight these!
1. Spend Less Than you Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $12 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is your home $12 an hour minus all the taxes, FICA, social security, and Medicare are taken out. That is your net income.
So, your net income has to be less than your net income.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make Saving Money Fun
You need to make saving money fun. Period.
It could be participating in a no spend challenge for the month.
Check out the 200 envelope challenge (which is doable on your income)
It could be challenging friends not to go to Target for a week.
Maybe changing your habits and not picking up takeout and planning meals.
Whatever it is challenge yourself.
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are 101 things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
4. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, it was not until week paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money. Set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt free journey.
Jobs that Pay $12 an Hour
You can always find jobs that pay $12 per hour. Polish up that smile, fill out the application and be prepared with your interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas for Jobs Paying $12 an hour:
Cashiers
Back of the house restaurant staff
Landscape Laborer
Retail jobs
Virtual Assistant – learn how to get started now!
Paraeducators at schools
Janitors
Farm help
Warehouse workers
Call center
Hotel Housekeeper
Delivery driver
Product demonstrator
Caregiver
Busser at restaurants
companies paying $12 an hour
Target
Amazon
Walgreens
Great Wolf Lodge
Olive Garden
Sonic
$12 Per Hour Annual Salary
In this post, we detailed 12 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
How much is 12 dollars an hour annually…
$24,960
This is under $30000 per year and you need to make at least $38k a year.
In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Spend your time wisely and make money doing it. All of these quick ways to make money are simple and easy to do!
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KrowdFit is a digital wellness engagement platform that makes it possible to earn cash-back rewards when you use its app to track activities like steps, sleep and meals. The company also offers the $0-annual-fee KrowdFit Wellness Rewards Mastercard, which can help improve your financial fitness when you spend on self-care.
Cardholders can earn an impressive and uncapped 4% cash back on an expansive list of eligible “health, wellness, medical and lifestyle partners” — including Walmart and Target — in addition to 2% back on grocery purchases and 1% back everywhere else. Better yet, those rewards are issued instantly, so you won’t have to wait until the end of your billing cycle to redeem them.
According to a KrowdFit representative, you’ll need a FICO score above 650 to qualify for the card, which comes with a virtual card number for immediate use upon approval.
Here are five things to know about the KrowdFit credit card.
1. Earn outsized cash back on wellness purchases and more
The KrowdFit Card offers 2% cash back at grocery stores (excluding membership stores like Costco) and 1% cash back on all other purchases. While those rates are unspectacular, the card stands out thanks to the breadth of categories that qualify for its stellar 4% rate. Some of those categories include:
Food: Restaurants, specialty markets and “miscellaneous” food stores.
Health care: Medical and dental providers, health insurance and drugstores.
Wellness: Massage parlors, spa services, and health and beauty shops.
Clothing: Family clothing stores, sports apparel and shoe stores.
Outdoor activities: Public and private golf courses, country clubs, and sporting and recreational camps.
Transportation: Including boat, motorcycle and snowmobile dealers.
Discount stores: Including Walmart, Target and others.
As of this writing, more than 30 merchant category codes (MCC) qualify for 4% cash back — a massive number for a no-annual-fee card that doesn’t require active management, such as tracking a bonus calendar or opting into bonus categories.
Also, if you make a purchase that you think should qualify for bonus cash back and it doesn’t, you can request to have the MCC code added to KrowdFit’s list.
2. Get one year of KrowdFit Premium and extra cash giveaway entries
Like many apps, KrowdFit has two versions: a free one with advertisements, and a premium one without the ads that promises a few additional perks. Cardholders will receive a one-year complimentary membership to KrowdFit Premium, normally $1.99 per month.
To incentivize healthy living and activity, KrowdFit offers cash giveaways that are paid out Monday, Wednesday and Friday of every week, in addition to a $5,000 physical activity cash giveaway on the first day of every month. The more you use the app to track things like sleep, diet and activity, the more entries you get.
3. See your credit line and interest rate before the hard pull
When you apply for a credit card, the issuer will typically conduct a hard inquiry to determine your creditworthiness. That inquiry can often lead to a temporary decrease in your credit scores, even though it’s generally conducted before you know what credit limit and interest rate you’re being offered.
But the KrowdFit card lets you see whether you’ll be approved — including the credit limit and interest rate — before you receive a hard pull. That way you know exactly what you’re being offered and whether it’s worth the impact to your credit scores. A hard pull is conducted only after you accept the offer.
Who doesn’t want to be rewarded?
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4. Receive an instant virtual card number
Once you accept the credit line and interest rate provided through the preapproval process, you’ll immediately receive a virtual card number. This number gives you instant access to your credit line and can be added to your virtual wallet or used online for purchases.
Once you receive the physical card in the mail, simply replace your virtual card number with the number on the front of your card.
5. There’s no sign-up bonus
The ongoing rewards structure for the KrowdFit card is solid, but the card lacks something other no-annual fee cards offer — a sign-up bonus. Whether you’re looking for cash back or travel miles, a sign-up bonus is the easiest way to pile up rewards.
The Wells Fargo Autograph℠ Card card has a $0 annual fee and offers the following sign-up bonus: Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – that’s a $200 cash redemption value. You’ll also earn 3 points per $1 spent on travel, dining, gas, public transportation, streaming services and phone plans.
Or there’s the Chase Freedom Flex℠, which also has a $0 annual fee and features the following sign-up bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. In addition, you’ll earn 5% cash back on up to $1,500 in combined purchases in bonus categories you activate each quarter; 5% back on travel purchased through the Chase Ultimate Rewards portal; and 3% back on dining and drugstore purchases. All other nonbonus-category purchases earn 1% back.
Have you been diagnosed with congestive heart failure? It can make applying for life insurance coverage becomes a bit difficult.
You may be able to get it approved, however insurance companies will be concerned about offering you coverage because of your potentially serious medical condition.
However, it is still very possible to get insured with congestive heart failure. Obviously it doesn’t mean your heart has actually failed and stopped working, or you wouldn’t be reading this information. It simply means it isn’t working as efficiently as it once did.
That being said, CHF, along with other heart diseases like heart attacks, congenital heart disease, and coronary heart disease, are the Number One cause of death of adults in the country. This includes both men and women.
Since this is the case, trying to get life insurance approved can be a longer process than it would normally take. This is because of additional underwriting requirements such as medical records having to be ordered. If the doctor’s office is slow in getting medical records to the insurance company, it will just take longer to get approved.
This means the SOONER you APPLY for coverage, the sooner the process will get started. You can complete our brief form on this page to get the ball rolling.
If the condition is severe then your type of coverage will be impacted. First off let’s look at some underwriting guidelines for life insurance on how they relate to congestive heat failure. Hopefully this gives you a idea on what is ahead on your application.
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Life Insurance Underwriting for Congestive Heart Failure
Your agent, knowing you have CHF, will ask you some pre qualifying questions when you first talk with them. Listed below are a few of them:
When was your congestive heart failure diagnosed?
Did any health issues contribute to your diagnosis of congestive heart failure?
Do you have high blood pressure or hypertension?
What tests have you had done to evaluate your condition?
Do you have high cholesterol?
Is there any history in your family with heart disease or death in the family due to heart conditions?
Tobacco user?
Are you prescribed any medicine to help with your issues?
Even though you might take some medications, beta blockers, inhibitors, or nitrates, for your condition, you still might be insurable as long as you don’t take multiples of each and have other issues that coincide with CHF.
When it comes to life insurance underwriting, the more information you can give the better. If your application doesn’t clearly describe your condition, your chances of a bad rating or rejection go way up. Make sure to fully answer all the application questions plus give any other details you think are important.
Life Insurance Quotes with Congestive Heart Failure
Congestive heart failure has a wide range of different severity levels. Your life insurance quote will depend on how serious your health issues are because of your condition. Insurance companies also do not accept applicants that have recently been diagnosed with congestive heart failure because they want some time to see how the condition develops.
To avoid rejections and get the best rate, its best putting off an application for twelve months after diagnosis.. From there, your rate will depend on your condition plus your overall health.
It is even possible that you may have CHF and not even realize it because the symptoms usually don’t show up initially. The reason they don’t is because your body and your heart can mask it at first, which is called compensation. The symptoms will start showing up when the heart just can’t pump enough blood to the rest of your body.
These are some standard rating classes that most life insurance companies use, though every carrier determines how you’d fall into each category, I’ll explain your chances with each class.
Preferred Plus: Generally impossible. Congestive heart failure is too serious a condition and carries too many health risks for applicants to receive the best possible insurance rating.
Preferred: Very difficult but not impossible. If your congestive heart failure has only mild health symptoms and you are in great health otherwise, you could get a preferred rating.
Standard: The likely best rating for most applicants. Applicants that only started having heart failure at 60 or older, are in good health, and have waited at least a year after being diagnosed to apply can get a standard rating.
Table Rating (substandard): Many of you will end up in this class due to the health issue.
Declines: Most applications within 3 to 6 months of a diagnosis for congestive heart failure. And other persons who deal with many health issues combined with history of health
If there is a situation where you do find that due to your medical condition you are declined for traditional life insurance, then our next recommendation is to look at a guaranteed issue life insurance policy. This type life insurance application only asks a few health questions, but not to decline your application but only to determine how much and when the death benefit would be paid out.
As you are thinking about applying for life insurance, you may also try to improve your chances of getting the best rate by doing some of the following:
Lower your sodium intake
Lower your cholesterol
Stop smoking
Exercise more often
Eat a healthier diet
Keep all other medical conditions under control with responsibly taking medications
Continue with proper medical care by your medical professionals
These recommendations are common sense, and your doctor may have other activities and guidelines. Even though there really isn’t a cure for congestive heart failure, the above lifestyle choices can minimize the degree of your heart deterioration, and allow you to get a lower life insurance rate.
Other Considerations as You are Applying for Life Insurance
This is common sense, but if you haven’t thought about it, now is the time to be thinking about how much death benefit you are looking to buy. Since you have a serious medical condition, you might not be able to afford what you would want, so be realistic in also considering how much money you have to budget for a monthly life insurance payment.
Also, how long a period will you need life insurance? Although typically no one knows for sure when their beneficiary might be filing a claim on the policy, you will need to consider whether to buy a term life insurance plan or a permanent life insurance plan. We can help you with making this decision.
Lastly, it would be a good idea not to drop or cancel any life insurance policy you presently own. As you get older, the premiums increase. So if you are comparing an old policy vs a new policy, the rates on the new policy will probably be higher than what you are paying now.
Congestive Heart Failure Life Insurance Case Studies
Its important to understand how filling out the application can hinder or help your approval percentage. Below are instances on how to and how not to go through the process.
Case Study: Female, 63 year old, non-smoker, diagnosed with congestive heart failure at age 61, taking Beta Blockers and Ace Inhibitors, no other health issues.
This applicant was only showing mild signs of congestive heart failure and was otherwise in very good health. She had no other health issues and no family history of heart disease. However, because of her condition, she was only receiving expensive, rated life insurance offers. We advised her to request an EKG to prove that her condition was under control. With this extra information, an insurance company gave her a much less expensive standard policy.
Case Study #2: Male, 54 year old, diagnosed with congestive heart failure at 51, father died young from heart disease, former smoker, improved health and weight since the diagnosis
This applicant had a very poor lifestyle prior to his heart failure diagnosis. He was smoking, overweight, and had high blood pressure. This combined with his family history of heart disease led to him being rejected from all his life insurance applications. However, since his diagnosis, this applicant dramatically improved his lifestyle. He lost a good deal of weight and quit smoking which made his condition much less severe. Since his health had improved we let him know it would be smart to get a written referral from his doctor stating how much healthier he is now. By reapplying with this extra certification, this applicant was able to receive a rated policy despite his relatively risky profile.
While congestive heart failure is quite serious, it is not enough to prevent you from taking out life insurance. You just need to handle your application well. To make sure the process goes smoothly, it helps to work with expert brokers that understand this condition.