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December 15, 2023 by Brett Tams

Do you find yourself dreaming about what you would do if you were a millionaire? Maybe you fantasize about retiring early and traveling the world. Or perhaps what excites you is the thought of being able to donate to causes you care about.

But, you might be wondering, how to become a millionaire? You may suspect the only way you’ll ever be that rich is if you win the lottery.

Fortunately, the road to wealth isn’t that narrow — there are many ways to become a millionaire. For instance, some individuals retire with over a million dollars in savings because they made good financial decisions.

Others may have started businesses that brought them success, advanced their careers so that they made enough to save seven figures, or made smart investments.

Read on to learn more about how to become a millionaire, and strategies that could help get you there.

Introduction to the Millionaire Mindset and Goals

You may have a certain image of a millionaire in your mind. Maybe it’s a jetsetter or a celebrity. But many millionaires are not born into wealthy families or individuals who suddenly struck it rich. In fact, many millionaires are people who work for a living every day. In general, what tends to set them apart is that they have a millionaire mindset. They are smart and disciplined when it comes to their money. And they stay focused on their financial goals.

Defining What it Means to be a Millionaire

The true definition of a millionaire is someone with a net worth of at least $1 million. That means that their assets, minus any debt, is $1 million or more.

So, if you have $500,000 in savings and investments, plus a house that’s worth at least $500,000, are you a millionaire? Yes, if you own the house outright and don’t have a lot of debt such as car loans, student loans, or credit cards to pay off. But if you still owe money on your house and you’ve got a fair amount of debt to repay, you probably aren’t a millionaire. At least, not yet.

To do the math for your situation, total up your assets. Then subtract your debts from that amount. This will show you how close you are to reaching millionaire status, and possibly give you a sense of what you might have to do to get there.

Following these eight strategies can help when it comes to how to become a millionaire.
💡 Quick Tip: Did you know that opening a brokerage account typically doesn’t come with any setup costs? Often, the only requirement to open a brokerage account — aside from providing personal details — is making an initial deposit.

Step 1: Stay Away From Debt

As we just saw in the example above, one thing that could be holding you back from becoming a millionaire is debt — especially if that debt is “bad debt,” a term often used for high-interest debt. Eliminating your debt is key because it’s difficult to build wealth if you’re paying a significant portion of your income toward interest.

Paying off debt could help free up money to invest and build wealth. One way to repay debt is to use the debt avalanche method. With this technique, you pay off your debts with the highest interest rates first and then focus on debts with the next highest interest rates (while still making minimum payments on all of your debt, of course).

Eliminating debt isn’t just about paying off existing debt, though, it’s also about avoiding the chances of going into debt in the future. Part of a debt payoff strategy could involve spending less so that you don’t need to rely on credit. You can also set a strict budget and pay with cash whenever possible.

In addition, you may want to create an emergency fund by setting aside a certain amount of money every month. That way, if you have a financial setback, you don’t have to go into credit card debt.

Step 2: Invest Early and Consistently

Investing successfully doesn’t happen overnight. It takes time. That’s why you need to start early. There are a few rules to know that could help you improve your chances of becoming a millionaire.

Benefits of Compounding Returns

First, compounding returns can make all the difference. They can help your money grow, as long as the returns are reinvested.

Here’s how they work: Compounding returns depend on how much an investment gains or loses over time, which is known as the rate of return. The longer your money is invested, the more compounding it can do. That’s why some individuals start saving aggressively when they’re young.

Saving $100,000 by the time you’re 30 might not be possible for everyone, but the more you save early on, the greater impact it could have on your net worth.

And here’s the thing: Even if you’re in your 30s, 40s, or 50s now, it’s never too late to start saving. The important thing is that you start, period. And that you keep saving.

There are other investing strategies that could help as you work on how to become a millionaire. For instance, you could reduce the amount you spend on investment fees. High investment fees can have a big impact on your returns, so you might want to look into low-fee investments.

Also, you should make sure that you invest in a way that’s right for you throughout your life. That may mean investing more aggressively when you’re younger and gradually becoming more conservative in your investments as you get older and closer to retirement.

Step 3: Make Saving a Priority

Your savings is the amount of money you have left after paying taxes and spending money.

Many Americans aren’t saving enough to become a millionaire — in October 2023, the average personal savings rate was 3.8%, according to the Bureau of Economic Analysis. You’ll likely need to save more than three times that amount to become a millionaire.

Effective Saving Strategies for Long-term Wealth

To save for your goals, start by investing in your company’s 401(k). Max out your 401(k) if you can. At the very least, invest at least enough to earn the employer match, if there is one. That way your employer is contributing to your savings.

In addition, consider opening a traditional IRA or a Roth IRA and contribute as much as possible — up to the limit set by the IRS. These IRAs are tax-advantaged, so they’ll help with your tax bill, too.

And investigate other savings options as well. For instance, you could open a high-yield savings account rather than a regular savings account for a higher return.

Step 4: Increase Your Income

You can’t join the ranks of millionaires if you’re not bringing in more money than you need for your basic necessities. The more money you make, the more you can save and invest.

Tips for Boosting Earnings and Maximizing Income

Some ways to boost your income include asking for a raise or looking for a new higher-paying job. You could also go back to school to earn an advanced degree that could lead to a position with a higher income. Your current employer might even help you cover the cost; check with your HR department.

Another one of the ways to earn extra money is to take on a side hustle. You could tutor students on evenings or weekends, do freelance writing, or dog sit. And those are just some of the options to consider.

Step 5: Cut Unnecessary Expenses

Getting control of your spending is critical to building wealth. That doesn’t mean you have to cut back on everything that gives you pleasure, but you could consider the happiness return on investment you get from the money that you spend. How big of an apartment or home do you truly need to be content? What kind of car do you need? Do you have to buy lunch out every day or could you bring your own lunch from home?

Identifying and Eliminating Non-Essential Spending

You could find ways to cut back on the things that don’t matter so much, but not skimping to the point that you miss out on things you love. For example, maybe you need your gym sessions (and there are plenty of low-cost gyms out there), but you can do without a $5 latte every morning.

Also, you could focus on cutting back on big expenses instead of those that won’t have a huge impact on your budget. For example, dining out only once a month, adjusting your thermostat higher or lower depending on the season, or finding a less expensive, smaller home could help you save a significant amount of money over time.
💡 Quick Tip: Distributing your money across a range of assets — also known as diversification — can be beneficial for long-term investors. When you put your eggs in many baskets, it may be beneficial if a single asset class goes down.

Step 6: Keep Your Financial Goals in Focus

To become a millionaire, you’ll need to stay laser-focused on your financial goals. When everyone else around you is spending money, going on fancy vacations, and buying expensive cars, remind yourself what’s truly important to you. Keep your spending in check, continue to save and invest, and avoid taking on debt.

It takes discipline. But instead of thinking about the stuff you don’t have, appreciate all the good things in your life, like your family and friends. Remember that you’re saving for your future. You’ll be able to enjoy yourself then if you have the money you need to live comfortably and happily.

Think of it this way: You’re making yourself and your financial security the priority. Make that your mantra.

Step 7: Consult with Investment Professionals

Investing can be complicated because there are so many options to choose from. If you need help figuring out what investments are right for you, consider working with a qualified financial advisor.

Leveraging Expert Advice for Wealth Building

A good financial advisor could help you select the right investments and the best investing strategies for your situation. They can also help you plan and budget to reach your goals. But be sure to be an active participant in the process. Ask questions, be involved. Why are they suggesting a specific investment? And if you don’t feel comfortable with something, say so.

Finally, be sure to check your investment performance regularly. Know what you are investing in, how much, and why.

Recommended: How to Find the Best Investment Advisor For You

Step 8: Repeat and Refine Your Financial Plan

The final step to becoming a millionaire is to stay committed to your goal and your plan. Keep saving and investing your money. Stay out of debt. Let time and the power of compounding returns kick in. Be patient.

But also, don’t be afraid to refine or change your plan if need be. For instance, as you get closer to retirement, you will likely want to choose safer, less aggressive investments. You can keep saving and growing money throughout different ages and stages, but your method for doing so can evolve to make sense for where you are in your life.

Additional Tips for Wealth Building

In addition to all of the strategies above, there are a few other techniques that may help you reach millionaire status.

Lifestyle Considerations and Spending Habits

As you work your way up the ladder and earn more money throughout your career, you may be tempted to increase your lifestyle spending, too. After all, you have more money now, so you may feel the urge to spend it.

But here’s the thing: Giving in to these temptations can be a slippery slope. It might start with a bigger house in a nice neighborhood, and then grow to taking extravagant vacations and driving a luxury car. Before you know it, you could be spending way more than you’re saving.

Try to avoid lifestyle splurging if you want to be a millionaire. Instead, take the extra money and save and invest it. That way, you’ll be able to reach your goal even faster.

The Takeaway

Becoming a millionaire is possible if you take the right approach. It involves saving and investing your money, spending wisely, and avoiding debt. You need to be disciplined and focused, and it won’t always be easy. But staying committed to your goals can reward you with financial security and success.

Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

Invest with as little as $5 with a SoFi Active Investing account.

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Source: sofi.com

Apache is functioning normally

December 15, 2023 by Brett Tams

Transport your family and visitors back in time with retro kitchen concepts.

Decorating your kitchen is an exciting adventure only those brave enough to experiment and express themselves embark on. The opportunities are endless between multiple ways to decorate and many styles to converge and bring to life. While following trends is an easy way to decorate, there are more decorating style options when you incorporate timeless pieces and even vintage finds into your kitchen space through retro kitchen ideas.

Retro pieces blend character and charm seamlessly, adding a unique touch that transports your kitchen into a personal haven filled with stories and nostalgia. Curating this feeling, especially in a space where meals are shared, is special because it transforms the act of dining into a celebration of togetherness.

What defines retro style?

Easily defined as a vintage look, retro style emulates or deliberately draws inspiration from historical lifestyles, trends or artistic expressions. It encompasses music, modes, fashions or attitudes emblematic of various eras.

Within popular culture, the “nostalgia cycle” commonly revolves around the two decades that unfolded 20 to 30 years in the past. However, no decade is off-limits when it comes to designing a retro-style kitchen.

Retro kitchen ideas to travel back in time

Whether you’re looking for a decor style to enhance your current kitchen or maybe have a few retro pieces on hand and want to fully dive into the vintage style, this list will assist in your retro kitchen design process. Feel free to mix and match styles, or pair one of the below suggestions with an otherwise-modern setup.

Author note: When you buy through links in this article, we may earn an affiliate commission.

Peel and stick checkboard floors

Checkerboard floors were a staple of 1950 American diners. Select a traditional black and white checkered floor pattern for the ultimate nostalgic feel. Even better, peel-and-stick flooring makes this retro kitchen idea renter-friendly, leaving little to no damage behind.

Retro gallery wall

If you’re unsure where to start or are struggling to find some of the larger pieces, start with creating a gallery wall. Retro art is easy to find, whether you’re printing images out or finding framed vintage patterns that resonate with the era you’re aiming for. Design ideas for these galleries range from funky black-and-white patterns to vintage family photographs.

Coca-Cola decor

Another staple of American history is the popular soda (or pop, as some say), Coke. Retro kitchens, dating back to the 70s, featured everything from wall clocks to signage with verbiage to drink an ice-cold Coca-Cola. Channel this retro cool vibe with antique signage that lets your guests know there’s a cold beverage waiting for them.

Vintage wall clock

If you’re lacking enough wall space to do a gallery, opt for a wall clock. While wall clocks are becoming less and less popular, it’s among the list of perfect retro kitchen accessories to create a vintage vibe. Consider choosing a wall clock with a charming, nostalgic design to not only tell time but also add a touch of timeless elegance to your entire kitchen.

Vintage bar stools

A great way to curate a retro kitchen is through vintage furniture. Take a trip to your local antique store to snag some vintage bar stools. When shopping, keep an eye out for retro patterns and color combinations that offer a retro feel. For example, bright-colored bar stools with chrome accents or vinyl upholstery can instantly transport your kitchen back in time.

Mid-century modern appliances

Brands like SMEG and Forte have created a line of retro appliances that are both aesthetically pleasing and high-functioning. Their appliance lines appear as vintage appliances but work with today’s technology and advanced functionality. These retro kitchen appliances are the perfect addition to any kitchen seamlessly blending the charm of yesteryear with the convenience of modern living.

Diner-style booth furniture

Retro kitchens, back in the day, featured iconic diner seating. This booth seating is a little trickier to emulate in kitchens today but not impossible. Furniture like corner breakfast nooks or bench seating makes for perfect retro-inspired furniture pieces that blend nostalgic charm with contemporary sophistication.

Antique lighting fixtures

Lighting not only brightens up your space but can truly set the mood in a kitchen. For a retro look, find bright color fixtures or fixtures with unique shapes that will enhance the lighting but also serve as a fun focal point. Pendant lights, specifically, can be found in a range of fun retro options that are sure to match your style.

Take a trip down memory lane

These retro kitchen ideas will not only create a unique kitchen space but also open conversations about the past, allowing you to infuse your home with a sense of nostalgia and timeless charm. By blending classic design elements with modern functionality, you can achieve a perfect balance that not only honors the traditions of the past but also caters to the needs of contemporary living.

Still looking for that perfect apartment to decorate your dream kitchen? Explore available apartment or rental home options here.

Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.

Source: rent.com

Apache is functioning normally

December 15, 2023 by Brett Tams

LA-based DJ, avid snowboarder, and TV personality Tyler Marenyi — better known by his stage name, DJ NGHTMRE — is branching out.

Turns out that the Raleigh, North Carolina native, who released his album, Drmvrse last year and is currently busy touring the country as part of his The Great Sonic Wars Tour, also dabbles in real estate.

He just listed a newly built home in Culver City, California, one that comes with a main residence and not one, but two ADUs (accessory dwelling units) — which can be rented out and generate income for the future owners — as well as a lovely zen garden.

Photo courtesy of The Agency

Since the property has just been completed and is listed as a new construction, it’s safe to assume it was never meant to serve as DJ NGHTMRE’s house.

Rather, it seems like Tyler Marenyi is diversifying his income streams, and investing the money he makes from headlining music festivals around the world into real estate — and making a profit in the process.

Photo courtesy of The Agency

Listed for just over $3 million with Gina Michelle, Margaret Sievers, and George Ouzounian of The Agency, the property has a total of 7 bedrooms and 6 baths (totaling 3,417 sq. ft.) spread across the three structures on the lot.

The main house, a bright, light-filled single-story structure stands out with its clean lines and modern design.

With three bedrooms and two baths, it features high vaulted ceilings and custom light fixtures, creating a spacious and inviting ambiance.

Photo courtesy of The Agency

The master bedroom, a serene retreat, boasts a large walk-in closet and elegant French doors that lead to a private outdoor sanctuary.

Photo courtesy of The Agency

Complementing the main residence is a two-story Accessory Dwelling Unit (ADU), complete with three bedrooms and three bathrooms. This additional unit is not just a space for guests; it’s an epitome of sustainable living, equipped with solar panels.

Set at the back of the property, the two-story ADU is a full-fledged residence in itself, one that can house family members or that can be rented out for additional income.

Photo courtesy of The Agency

Moreover, a Junior ADU adds further versatility to this unique property. You can see all the structures in the image below.

Photo courtesy of The Agency

The outdoor area of this property is where the zen-like design truly comes to life.

A meticulously crafted zen garden, complete with lush greenery and a mature avocado tree, offers a slice of paradise in the heart of the city. The advanced dual-control irrigation system ensures that this garden oasis remains vibrant with minimal effort, marrying beauty with practicality.

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*Featured image credit: property photo courtesy of The Agency, NGHTMRE insert courtesy of FROZYO!, CC BY-SA 4.0, via Wikimedia Commons

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Machine Gun Kelly’s house in Los Angeles, Bought from Youtuber Logan Paul

Where does Bad Bunny live? His house in L.A. and past whereabouts

Source: fancypantshomes.com

Apache is functioning normally

December 11, 2023 by Brett Tams

When individual mortgages are originated by lenders like banks or credit unions, they may
bundle groups of these mortgages together into financial vehicles called mortgage-backed
securities (MBS) that are then sold to investors on a secondary market.

This allows investors to gain exposure and returns from the mortgage market, while the lenders gain immediate capital to issue new mortgages.

However, if a mortgage in an MBS bundle defaults or contains errors, there is a “repurchase
risk.” This means the entity that assembled and sold the MBS is obligated to buy back any non-performing or defective mortgage loans. This ensures their bundle retains its credit rating and market value.

If too many mortgages default, the MBS can lose significant value. As a result, lenders aim to include reliable mortgages in their securities and have technology to assess credit risk, detect fraud, and monitor performance — in order to avoid forced buybacks or losses for investors that diminish market confidence. In Q1 of 2023, there were $459 million in repurchases on about $68 billion in Fannie Mae loan-acquisition volume, or a 68 basis-point repurchase rate.

Benefits of technology for repurchase risk

Emerging technologies are proving essential to reducing repurchase risk and improving
confidence in mortgages sold on secondary markets, enhancing transparency and security of loan data transfer to minimize errors.

For example, automated underwriting powered by artificial intelligence (AI) and machine learning allows lenders to more accurately assess risk and detect potential fraud during the application process, leading to higher-quality loans less likely to default.

Lenders are also utilizing predictive analytics on borrower behavior to identify early signs of trouble and take preventive action through improved loan monitoring systems.

With automated tracking enabling quicker interventions as needed, these technological capabilities help drive down default rates, ensure smooth payments and significantly mitigate repurchase risk. By leveraging such innovations, lenders can greatly strengthen investor trust in bundled mortgage products.

Specific types of technologies to reduce risk

Cutting-edge data technologies are invaluable for mitigating repurchase risk across sectors,
especially in mortgages. For instance, certain firms now employ automated direct-source data connections to validate applicant details in real-time, confirming income, employment, assets and other information at the moment of origination. This prevents falsities upfront.

Additionally, enhanced data access enables lenders to monitor loan performance factors on an ongoing basis. Via API connections, loan data is streamed into systems allowing staff to catch early warning signs of borrower distress, like missed payments on other credit accounts. This data empowers lenders to take timely preventive and corrective actions with struggling borrower before complete default.

Between advanced application fraud checks and early intervention on emerging trouble signs, these data capabilities attack repurchase risk from both sides, further safeguarding mortgages for downstream investors.

Benefits to lenders and consumers

Employing such technological safeguards carries major advantages across mortgage lending stakeholders. With reduced defaults and minimized repurchase requests, lenders can reap higher profits on sold mortgages while strengthening investor trust in associated securities. This helps attract ongoing investment capital into the housing sector.

Consumers also benefit as improved loan quality and lower perceived default risk opens lending access, allowing originators to offer more borrowers mortgage financing, often at better interest rates.

By cutting risk through data and automation, these innovations allow for mortgage market growth, fueling a win-win for both lenders and everyday borrowers seeking to purchase homes. The enhanced market stability and consumer access further establishes technology’s power to drive positive change in lending.

Technology is transforming how mortgages are originated, bundled and sold on secondary
markets to mitigate repurchase risk and improve stability. Through automated underwriting,
direct source data verifications, and API-driven performance monitoring, lenders can
significantly reduce defaults and errors in loan pools.

With lower repurchase risk, lenders enjoy greater revenue potential and investor confidence in the mortgage instruments they bring to market. Further boosted by early warning systems that enable targeted borrower interventions, these capabilities don’t just move risk off lender books, but actively prevent it at scale.

The results are profitable loan growth and expanded consumer access. Government agencies like Fannie Mae and Freddie Mac both have integrated these capabilities into the loan origination process to confirm the reliability of data from day one through closing and the eventual sale of the loan.

While regulations and diligent processes remain essential, innovations in data and analytics
provide the infrastructure to continually improve mortgage quality over time. As adoption
accelerates, technology systems will become the indispensable foundation upholding housing market growth for generations to come.

John Hardesty is general manager of mortgage at Argyle, the leading platform for consumer-permissioned payroll connectivity.

Apache is functioning normally

December 10, 2023 by Brett Tams

Designing high-end homes is a multi-layered process rooted in a deep understanding of the homeowner’s lifestyle and personality. While infusing creative distinction and achieving harmonious fusion are the fundamental principles of designing a personalised space, architectural elements such as dynamic scaling, tailored circulation and curated spaces that showcase the occupant’s unique style and personality are essential in transforming a liminal space into a unique yet authentic reflection.

Interior decor tips to design a high-end home (Photo by Pixabay)

In an interview with HT Lifestyle, Vineeta Singhania Sharma, Founder Partner and Principal Architect at Confluence, highlighted that the fundamental design principle in creating spaces that not only cater to the user’s needs but also reflect their individuality and celeb-like charisma is defining the balance between the unique lifestyle and personality of the client. She elaborated –

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Defining the Style: The first step is to define the purpose of the home. Is it a maximalist paradise, a minimalist retreat, or does it embrace the latest trends, or perhaps something more timeless and established? While some clients opt for an inward-looking design that creates a sanctuary within, like Kendall Jenner’s 6,625-square-foot Spanish-style Malibu mansion, others prefer merging indoors and outdoors seamlessly, blurring the lines between nature and luxury—similar to Dakota Jonhson’s serene getaway estate in LA, designed by architect Carl Maston. It is essential to understand the occupant’s taste by pinpointing the critical elements that shape near-ordinary spaces into exceptional homes.
Scale and Dynamic Design: High-end homes are not just about opulence; they are dynamic and engaging. We must design with scale in mind. Whether a cosy reading nook or a grand dining hall, each room should tell a distinct, engaging story that amplifies the space’s dynamism and contributes to the narrative.
Circulation for Lifestyle: The layout and circulation within the home should be tailored to the homeowner’s lifestyle. High-end homes demand distinction. However, such homes require privacy but often require accessibility for staff and guests as well. This balance is essential to ensure the space is functional and comfortable.
Creative Distinction: High-end homes are designed to stand out. To achieve the delicate balance between privacy and accessibility, featured spaces with iconic pieces as placeholders are encouraged. This could be a unique sculpture, a one-of-a-kind chandelier, or even a custom-designed piece of furniture, creating multiple focal points within a space that define the ubiquitousness of a high-end celebrity.
Harmonious Fusion: What makes these homes exceptional is combining an unusual mix of interior elements—furniture, lighting, art and rugs—into an eclectic blend of exclusivity while maintaining harmony. Each piece contributes to a unified, intriguing atmosphere. The challenge lies in selecting pieces that may seem unrelated at first glance but, when brought together, create a cohesive and intriguing atmosphere that resonates with the user’s dynamic personality.
The Art of Layering: High-end homes are a canvas for artistry. Every space is carefully layered with art, statement pieces, textures, and other objects that reflect the client’s personality. Whether it’s a collection of vintage photographs, a gallery of contemporary art, or a display of cherished memorabilia, these layers add depth and character to the living spaces. Each corner must be strategically curated with carefully selected art, statement pieces, textures, and objects that mirror the overall statement and purpose of the home, imparting depth and character to the omnipresent lifestyle of a celebrity.

According to Kuntal Vyas Aggarwal, Founder and Design Head at Resaiki Interiors and Architecture Design Studio, luxury decor is all about the finer details. He shared, “It begins with meticulous craftsmanship using premium materials like fine woods, metals, and textiles, often employing artisanal techniques such as hand-carving and hand embroidery. Elaborate ornamentation, including decorative mouldings and intricate carvings, adds a sense of grandeur and sophistication. Luxury is further heightened by the inclusion of rare materials like marble, onyx, precious metals, and gemstones, seamlessly integrated into various elements of the space. Customisation is essential, allowing for unique and exclusive designs through custom-made furniture, bespoke cabinetry and personalised finishes.”

The interior decor expert added, “Luxury extends to textiles and fabrics, with high-quality materials like silk, velvet, cashmere, and fine wool, adding visual richness and tactile comfort. Fine art pieces, antiques, and collectables are thoughtfully curated to enhance the decor’s cultural and historical significance. Lighting is carefully considered, with crystal chandeliers and hand-blown glass fixtures creating a beautiful ambience. Achieving symmetry and balance in the design contributes to a harmonious and visually pleasing environment. Modern technology seamlessly integrates into luxury decor, offering convenience through hidden audiovisual systems and automated climate control while maintaining a clean aesthetic. Significantly, luxury decor is balanced with comfort, with plush furnishings, ergonomic designs, and thoughtful layouts, ensuring that these spaces are inviting and relaxing.”

She recommended –

Limitless luxe decor: Space is a defining element of luxury decor. It encompasses several aspects that influence the perception of luxury. Luxury often entails generous space, with open floor plans and high ceilings exuding grandeur. Uncluttered designs and minimalism convey sophistication, while functionality and organisation are vital, achieved through custom storage solutions.

Abundant natural light, premium materials, and architectural details like columns enhance the perception of luxury. The seamless spatial flow between rooms and custom designs tailored to homeowners’ preferences add exclusivity. Integrating outdoor spaces and maximising views contribute to luxury and cutting-edge technology for convenience and entertainment. In summary, luxury decor involves lavish materials and thoughtful, spacious, and well-designed interiors that radiate sophistication and opulence.

2. Integrated home automation: Automation is a defining aspect of luxury decor, infusing convenience, efficiency, and a futuristic feel into living spaces. It embodies modernity and sophistication, meeting the expectations of a luxurious lifestyle. Automation’s contributions to luxury decor include –

⦁ Smart Lighting: Customizable lighting scenes, adjustable intensity, and voice control create a luxurious ambience while saving energy.

⦁ Climate Control: Automated HVAC systems allow personalised temperature control for each room, optimising comfort and energy efficiency.

⦁ Home Security: Advanced security systems with intelligent doorbells and sensors enhance safety and convenience.

⦁ Integrated Audiovisual Systems: Home theatres with automated screens and sound systems provide cinematic experiences.

⦁ Motorized Window Treatments: Remote control of blinds and shades enhances natural light control and privacy.

⦁ Smart Home Control: Centralized automation hubs and voice-controlled assistants offer hands-free management.

⦁ Customizable Scenes: Automation systems enable mood-setting scenes for various occasions.

⦁ Energy Efficiency: Automation features like smart thermostats and lighting controls reduce energy consumption.

⦁ Home Integration: Seamlessly integrated systems enhance user-friendliness.

⦁ Customization: Tailored automation adds exclusivity to decor.

⦁ Future-Proofing: Forward-thinking automation solutions ensure ongoing technological relevance.

Automation defines luxury decor by blending convenience, comfort, and control into living spaces, elevating their functionality and enjoyment.

3. Geographic directions and energies: They play a significant role in defining luxury decor, mainly through feng shui principles and cultural influences. Feng shui considers the orientation of a space, elemental balance, energy flow, natural light, colour choices, materials, and outdoor areas to create a harmonious environment. Luxury decor often aligns with these principles, using favourable orientations, balanced elements, unobstructed energy flow, abundant natural light, and colour associations to evoke opulence.

The choice of materials and textures, personalised spaces, and environmental sustainability further enhance the sense of luxury and well-being. In summary, geography and energy, guided by feng shui and cultural insights, define luxury decor by fostering balance, positive energy flow, and tranquillity, promoting a visually pleasing and harmonious living environment.

4. Meaningful and unique artwork: High-quality artwork is pivotal in defining luxury decor and infusing sophistication, cultural richness, and aesthetic value into a space. Luxury decor prioritises aesthetics, and art serves as a captivating focal point. Artwork with cultural or historical significance adds depth, while exclusivity is achieved through original pieces or limited editions by renowned artists. Art becomes a means of personal expression, allowing homeowners to showcase individuality. It also showcases artistic mastery and can be an investment.

Art influences a room’s atmosphere, scale, and balance, serving as conversation starters and intellectual engagement. Expert curatorial integration ensures seamless and sophisticated incorporation, making art an integral aspect of luxury living environments.

Source: hindustantimes.com

Apache is functioning normally

December 9, 2023 by Brett Tams

If you’re considering pursuing a career as a veterinarian, you probably have tremendous affection and compassion for animals and want to help them via medical training. That probably means you’re considering attending veterinary school. Among the questions you may be wondering about are, How long is vet school? How do I apply? How much will vet school cost, and how can I afford it?

This guide will help you understand the process for how to become a vet and how you might afford this fulfilling career.

How Much Does It Cost to Become a Veterinarian?

The cost for a four-year veterinary school for in-state residents is over $200,000 while students with out-of-state tuition may pay more than $275,000, depending on the school, according to the VIN Foundation Student Debt Center.

While that’s a lot of money, getting a doctorate in veterinary medicine (DVM) can lead to a median salary of $103,260 a year according to the Bureau of Labor Statistics. A vet’s salary depends on what kind of practice they go into and where they are located.

How Long Does It Take to Become a Veterinarian?

The path to becoming a vet can vary, and the length of time it takes to become a vet can vary as well. In general, most vet schools are four-year programs for a DVM. Some, however, have accelerated programs and semesters and get the work done in three years.

Those pursuing a veterinary career path might also want to factor in how long it takes to complete the prerequisites. In general, that will require students to have a bachelor’s degree, which also takes around four years to complete. If you have already completed your bachelor’s degree but didn’t take the courses required for vet school, then you may need to pick up those credits as well before you start your applications.

That said, what follows are six key steps if you are wondering how to be a veterinarian.
💡 Quick Tip: Some student loan refinance lenders offer no fees, saving borrowers money.

6 Steps to Become a Veterinarian

The steps to becoming a veterinarian are often as follows:

Step 1: Check Off The Prerequisites

These points can help you move towards your degree as a veterinarian:

• The Veterinary Medical College Application Service resource will show you the list of prerequisite college courses that are generally required for students applying for veterinary school. Required courses for most veterinary schools include biology, chemistry, animal sciences, and advanced math.

• Students interested in pursuing vet school who are currently enrolled in undergrad may want to review their current course of study to be sure they are on track for vet school prerequisites.

• Another tip is to volunteer, get an internship, or do part-time work with an animal hospital, local business, or charitable organization that helps animals. See if your college has a prevet extracurricular club that could broaden your experience and help you learn more about the field.

Getting a lot of hands-on animal experience can help build your resume and help you make sure that you’re pursuing a career path that appeals to you.

Also, know that to file your vet school application, you’ll most likely be required to submit your undergraduate transcripts and provide a reference from a college professor or professional in the animal sciences.

Step 2: Determine How to Pay for School

Before you decide on which veterinary school you want to attend, consider evaluating what savings you have to put toward vet school and estimate what you may need to borrow in student loans or fund with grants and scholarships.

It’s important to think about veterinary school costs as you begin researching schools so you have a good idea of what your veterinary school debts may look like.

According to the most recent data from the American Veterinary Medical Association, the average educational debt among the 82% of US veterinary college graduates who take on debt was $179,505. While vets do earn a good salary once they find employment, that is a significant sum to consider.

Working a part-time job while attending school might help offset some of the vet school costs or the amount you have to take out in loans in order to cover living expenses, but it might be challenging to balance work and school, especially as your schoolwork increases.

Recommended: Why Your Student Loan Balance Never Seems to Decrease

Step 3: Research Veterinary Schools

Once you have an idea of how much money you have to pay for vet school, research the veterinary schools in the country. You’ll likely consider the location, costs, and the types of programs offered if you’re pursuing a specialty veterinary degree.

This step can be an important part of the journey on how to become a veterinarian. As you read above, it may be more affordable to attend a vet school in your state.

Also, check that the vet school(s) you are applying to are suited to the type of vet medicine you want to practice. For example, if you’d like to pursue a career working with horses, research schools that offer equine programs.

If you plan to pursue a general DVM degree, find an accredited veterinary program that fits the criteria most important to you, such as your budget or where you want to live.

Step 4: Apply to Veterinary Schools

Check out the schools’ admissions website to determine the specific graduate school application requirements. Some pointers:

• Most vet schools require students to submit scores for either the Graduate Record Examination (GRE) or the Medical College Admission Test (MCAT). Some schools may also require applicants to take the Biology GRE.

• You also might need a letter of recommendation or two, as noted above.

• Some applications may also require a personal essay.

• Once your application is received, there may also be an in-person interview.

Yes, the vet school application process can be involved and long. It can get expensive, too. Vet schools often charge a non-refundable application fee; many schools follow the fee structure set by the American Association of Veterinary Medical Colleges, which sets the first application fee at $227, and then each additional application fee is $124.
💡 Quick Tip: Federal parent PLUS loans might be a good candidate for refinancing to a lower rate.

Step 5: Attend Veterinary School

A three- to four-year vet med school degree often involves a few semesters of coursework, followed by clinical training and intense clinical training to gain hands-on training at one of the college’s affiliates.

Students can apply for scholarships and grants to help alleviate some of the costs of a veterinary degree. By managing your budget and minimizing extraneous expenses, you may also lower the amount of student debt you end up borrowing.

In order to practice veterinary medicine and become a veterinary, students will also need to study for and pass the North American Veterinary Licensing Examination (NAVLE). Generally, vet students take the exam during their senior year.

Step 6: Begin The Job Search

The experiences you had during clinical rotations can help you determine which area of veterinary medicine you want to go in. Options include private veterinary practice, vet hospital, research, education, diagnostics, or even public health with a DVM degree.

In general, it can be helpful to start looking for a job in veterinary medicine before graduating from vet school. After passing the NAVLE and graduating from school, you’ll be ready to hit the ground running if you have a job in place.

Having a job secured before you graduate may also provide peace of mind as you start thinking about student loan repayment.

The Takeaway

A career in veterinary medicine can be a rewarding one. You’re helping sick or injured animals heal, providing preventative care, and getting to interact with animals all day long. When it comes to discovering how to become a veterinarian, the process takes planning, dedication, and hard work.

Attending veterinary school can be a challenging but fulfilling journey. It’s also typically an expensive one. After graduating, refinancing student loans may be an option that can lower the loan’s interest rate, and potentially reduce the cost of borrowing in the long term. However, you may pay more interest over the life of the loan if you refinance with an extended term. Also, refinancing federal student loans means you forfeit some borrower protections, such as loan forgiveness and deferment.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Where do veterinarians work?

Veterinarians work across the country and around the world in a variety of settings, such a s private clinics, animal hospitals, and zoos, or they may operate out of an office and then visit homes or ranches.

What does a veterinarian do?

A veterinarian cares for the health of animals, whether pets, livestock, or other animals. They diagnose and work to heal issues animals endure and may protect public health by doing so.

What’s the salary and job outlook for a veterinarian?

The median salary for a veterinarian is currently $103,260 a year according to the Bureau of Labor Statistics. The need for vets is seen as increasing, with a projected growth of 19.4% between 2021 and 2031.

What hours do vets work?

The hours a vet will work can vary tremendously depending on a specific job, type of employment, and location. Most vets work four to five days a week, eight to 10 hours a day.

SoFi Student Loan Refinance
If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOSL1123003

Source: sofi.com

Apache is functioning normally

December 8, 2023 by Brett Tams

As part of my new commitment to just being me, I hope to share a lot more random stuff around here — just like I used to. Instead of waiting for weeks (or months) in order for inspiration to strike for a longer essay, I want to share the best of the interesting money stories (and semi-money stories) that I find around the interwebs.

Think of it as Apex Money, I guess, but instead of sharing three to five discoveries each day, I may share one or two a week. And instead of editing and polishing these pieces, they’ll just be quick braindumps with minimal attention to detail.

Today, for instance, here’s a 103-minute YouTube video about the lines at Disney theme parks:

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If you’re a nerd like me (and I know that many of you are!), this is fascinating stuff.

While this is only tangentially related to personal finance itself, the broader concepts the video explores have a lot to do with how our money is managed in this modern era.

You see, the history of lines at Disney theme parks during the past fifty years reflects broader societal and business trends.

Initially, guests at Disney parks paid an admission fee at the front gate and paid nominal fees for each ride.
Before long, the “pay per ride” system was scrapped in favor of paper ticket books, where each ticket allowed guests access to rides based on priority.
Eventually, even the ticket books were abandoned. When I first visited Disneyland in the summer of 1987, you paid at the gate and then could ride whatever you wanted. The catch? The best rides had long lines. Very long lines.
As computer technology advanced, it became possible for Disney to implement its FastPass system, whereby guests could make “reservations” for top rides. This alleviated lines somewhat but began to create two “classes” of park visitors.
Over time, the queueing process became even more computerized. By the time Kim and I visited Disney World during our RV trip in 2016, the “classes” of park visitors were even more stratified. If you did your research like we did, and if you stayed in a Disney hotel on their property, you enjoyed privileged access to attractions. If you just showed up — whether because you were a local or because you didn’t know any better — your waits could be excruciating. (And there was a third class of visitor in between.)
Now, Disney is rolling out a controversial new system to manage the lines for rides. And in many ways, it’s going back to the beginning where guests have to pay for attractions.

But wait! There’s more!

Throughout these decades of change, Disney has experimented with social engineering. If the line for Space Mountain is 90 minutes, for instance, but less-popular attractions have no wait, they might lie to guests and tell them that Space Mountain has a 120-minute wait. Some folks will still wait in the Space Mountain line, but more people will actually peel off and choose to do something else, thus spreading crowds around the park. And since “do something else” frequently becomes “shopping”, that’s more money in the park’s pocket.

Because Disney isn’t wholly mercenary, its decisions aren’t guided 100% by company profit. They also consider guest experience. (But wait! Are they only considering guest experience because it increases company profit?!?)

Anyhow, I don’t expect to sit through all 103 minutes of this video. But I did. And I enjoyed it. Maybe you will too?

True story: Watching this video also gave me inspiration for the GRS YouTube channel, which I’ve begun working on again. Instead of doing my regular vlogs, I want to try my hand at some longer video essays. Maybe not 103 minutes long haha, but longer than three minutes.

Source: getrichslowly.org

Apache is functioning normally

December 7, 2023 by Brett Tams

Nursing can be a rewarding career in a couple of important ways. It involves caring for the health of others and helping them through what can be a challenging moment in their lives, which can be satisfying. A nursing degree can mean job stability as well. According to the Bureau of Labor Statistics, demand for nurses will increase at 6% per year, faster than the average career growth. And here’s one other important fact: The average registered nurse salary is at a median of $81,220 per year. Compare that with the median US salary for the same period of $54,132, and you can see that nursing can be a lucrative career, too.

The average nursing salary will vary depending on the type of nursing you do. For instance, there’s the average nurse salary vs. the average registered nurse salary vs. the average nurse practitioner salary. Qualifications and other factors will determine how much you make as a nurse.

Read on to learn more about this important topic. The information that follows can help you decide if nursing is the right career path for you, and, if so, which type of nursing you want to pursue.

Average Salaries for Different Types of Nurses

Wondering, “How much do nurses make?” First, understand that when considering nursing as a career, it’s vital to know about the different types of nurses. Each has its own education and certification requirements.

• A licensed vocational nurse (LVN) or licensed practical nurse (LPN) is one of the lowest-paid jobs within the nursing field. Job responsibilities are typically similar for LVN and LPNs. California and Texas use the term LVN, while the rest of the country uses the designation LPN. These positions also have the lowest educational requirements.

While LVN/LPN roles don’t always require a college education, there are usually state-approved training certification programs. Most of these courses take aspiring LVN/LPNs one year to complete, and then they must pass the NCLEX-PN examination for state licensing. How much does a nurse make a year with this kind of credential? The average salary for LVN/LPNs as of 2023 was about $50,580 annually.

• Aspiring registered nurses (RN) typically need a bachelor’s or associate’s degree from an accredited program. There are also some accelerated programs available and some second degree programs for students who already have a bachelor’s degree in another field.

After successfully completing their chosen coursework, nursing students must then pass the NCLEX-RN exam in order to become a certified RN. In addition, RNs usually must obtain a state license after passing the NCLEX-RN exam.

To drill down on the details here, know that each state has its own licensing board. You may want to research the specific requirements in the state where you plan to practice. How much do RNs make? The average RN salary as of 2023, as noted above, was approximately $88,220 per year. (Below you will find state-by-stage nursing salaries, though not specifically for RNs.)

Next, consider the career of a Clinical Nurse Specialists (CNS). This type of nurse has gone a step beyond RN and pursued additional education. At a minimum, you must have a master of science in nursing (MSN) to become a CNS.

A CNS typically trains extensively in a specialty area, such as emergency medicine, oncology, or women’s health. At the end of 2023, the average salary for a CNS was $99,148 annually, which is higher than the RN salary, reflecting the additional education and skills.

• A Nurse Practitioner (NP) holds an advanced degree, but their responsibilities vary slightly when compared with a CNS. For example, in most states, a nurse practitioner is able to prescribe medication, while a CNS is not. The average nurse practitioner salary at the end of 2023 was $124,680 annually.
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Average Salaries and Location

Here’s another factor that can impact the average nurse’s salary: location. After all, wages and overall cost of living can vary dramatically depending on whether you live in, say, a small town or close to a pricey urban center.

Check this chart to see how average nurse salaries compare state by state. Note that these figures reflect LPN salaries, which are at the lower end of the spectrum, but they can give you an idea of how much nurses make by location. This could be good information to consider when deciding where to practice.

State	Mean Annual Nurse Salary
Alabama	$45,260
Alaska	$66,710
Arizona	$61,920
Arkansas	$45,990
California	$69,930
Colorado	$60,310
Connecticut	$62,620
Delaware	$57,360
District of Columbia	$62,010
Florida	$53,780
Georgia	$50,830
Hawaii	$55,730
Idaho	$54,710
Illinois	$58,840
Indiana	$55,850
Iowa	$51,400
Kansas	$51,700
Kentucky	$49,570
Louisiana	$47,430
Maine	$55,830
Maryland	$60,180
Massachusetts	$68,170
Michigan	$57,180
Minnesota	$54,870
Mississippi	$45,020
Missouri	$49,500
Montana	$52,420
Nebraska	$52,080
Nevada	$63,910
New Hampshire	$63,550
New Jersey	$61,990
New Mexico	$59,400
New York	$57,560
North Carolina	$53,010
North Dakota	$53,080
Ohio	$52,330
Oklahoma	$48,090
Oregon	$66,190
Pennsylvania	$54,520
Rhode Island	$66,770
South Carolina	$51,060
South Dakota	$46,000
Tennessee	$46,540
Texas	$52,850
Utah	$55,790
Vermont	$57,150
Virginia	$52,790
Washington	$69,950
West Virginia	$45,530
Wisconsin	$52,610
Wyoming	$54,880

How Much Does it Cost to Get a Nursing Degree?

The cost of getting a nursing degree varies based on the type of nursing program you choose. Each of the nursing positions listed above requires different degrees and certification.

• The process to become an LVN/LPN generally costs between $1,000 and $5,000.

• Taking an RN two-year associate’s program can cost $3,500 per year at public institutions; $15,470 per year at private schools.

• An alternative is to become an RN through a four-year bachelor’s program. This process works similarly to most other bachelor’s degree programs and typically costs the same as a four-year college or university.

• In addition to having already been an RN, both CNS and NP careers require advanced degrees. Typically, a masters of science in nursing (MSN) is required for both positions, which can cost between $18,000 to $57,000 in total.

• Some choose to further their education, becoming a Doctor of Nursing Practice (DNP). These degrees can be expensive but also have the potential to increase a nurse’s salary. After a master’s degree, expect to pay an additional $20,000 to $40,000, but your nursing salary is likely to rise, too.

There are usually costs beyond nursing school tuition. You’ll likely have to buy textbooks and supplies like a lab coat, scrubs, and a stethoscope. Many programs also charge additional lab fees each semester. Many schools will require nursing students to take out liability insurance and get some mandatory immunizations.

After graduating from your chosen program(s), you’ll also likely want to factor in the cost of licensing and exam fees as you enter the job market.
💡 Quick Tip: When refinancing a student loan, you may shorten or extend the loan term. Shortening your loan term may result in higher monthly payments but significantly less total interest paid. A longer loan term typically results in lower monthly payments but more total interest paid.

Paying for Your Nursing Degree

Becoming a nurse can be a pricey process, depending on the path you choose. But there are options available to help students pay for their nursing degree. The American Association of Colleges of Nursing has a database of scholarships for nursing schools. As you may know, scholarships don’t need to be repaid. This can make them an especially valuable resource in making ends meet as a nursing student.

In addition, federal aid, including grants, scholarships, work-study, and federal student loans could provide some relief. To apply, students must fill out the Free Application for Federal Student Aid (FAFSA) each year.

Student Loan Forgiveness Options for Nurses

There are a number of student loan forgiveness programs available to nurses. Keep in mind that each typically has its own program requirements, so it’s helpful to review them closely to determine whether you qualify.

• Public Service Loan Forgiveness (PSLF) forgives certain federal Direct loans after 10 years of qualifying, on-time payments. This program is open to borrowers who work for a qualifying organization. You can find details online about qualifying for the PSLF program to see if you could benefit from it.

• The NURSE Corps Loan Repayment Program will repay a portion of a nurse’s eligible student loans when they work full time at a Critical Shortage Facility or as a faculty member at a qualifying nursing school. Those accepted by the program are eligible to have 85% of their outstanding loan balances forgiven over a two-year commitment.

• The National Health Service Corps Loan Repayment Program provides loan forgiveness to qualifying nurses who commit to working for two years in clinical practice at a National Health Service Corps site.

Repaying Student Loans after Nursing School

If you borrowed federal or private student loans to help you pay for nursing school, developing a repayment strategy can be valuable. Not only will it set you on a path to repaying your debt, it can teach you valuable budgeting skills as well.

If you don’t qualify for any of the available loan forgiveness options, federal student loans come with a few different student loan repayment plans so you can find the option that works best for your budget.

If you relied on private student loans to help you pay for your tuition at nursing school, you may want to review your repayment terms. Each lender will determine their own terms and conditions for the loans they lend.

As you develop a game plan to help you repay your student loans, one option to consider is student loan refinancing.

When you refinance a loan, you take out a new loan with new terms. This loan can then be used to repay your existing loans. If you borrowed multiple loans, that means you could have the option to consolidate them into one single monthly payment — potentially with a lower interest rate.

However, it’s important to keep in mind a couple of factors:

• You may pay more interest over the life of the loan if you refinance with a longer term.

• If you are considering refinancing federal student loans, know that they come with an array of benefits and protections that are forfeited if you refinance.

To see how refinancing could impact your student loan, you can take a look at this student loan refinancing calculator.

The Takeaway

Nursing can be a challenging but rewarding profession, and the average nurse salary could provide a well-paying career. How much do RNs make? The typical salary currently tops $88,000. There are different kinds of nursing degrees and positions, so it’s wise to do your research to understand what each one requires and which might best suit your needs. Also, financing your education as a nurse can also need research to understand the obligation and how you might fund it.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

SoFi Student Loan Refinance
If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOSL1123001

Source: sofi.com

Apache is functioning normally

December 3, 2023 by Brett Tams

I’ve been investing nearly 25 years, long before online brokers came on the scene. During that time I’ve used several of the best online discount brokers, including Scottrade, OptionsHouse, and even Vanguard’s brokerage services. Based on that experience and a lot of research, I’ve compiled this list of the top options.

Note that I have accounts at each of these firms and have personally tested their trading platforms, research, and other tools. Here’s a quick look at the top brokers.

Compare Discount Brokerage Accounts

Best Online Discount Brokers Firms of 2023

TD Ameritrade: Ideal for more experienced traders looking for a rich set of tools and resources.
E*TRADE: offers trading platforms and tools for any investment style
Ally Invest: Best for new investors and those looking for a very easy website to navigate.
Fidelity: Best for those looking for a robust broker with offices nationwide.
You Invest by J.P. Morgan: Best for free trades and cash bonuses

Over the years I’ve learned three important things about brokerage firms.

First, there are a lot of them. You’ve probably heard of many discount sites that allow you to trade stocks online, but I’m guessing there are a lot of online brokers you’ve never heard of (Sogotrade may be one example).

Second, while on the surface they can all seem similar, when you dig deep into what these brokers offer, you’ll find big differences. For example, not all of them offer the same account types. With some you can’t buy mutual funds, while others offer more mutual funds than most. And the stock trading tools available to you vary from one discount broker to the next.

And the third thing I’ve learned is that the cost of these discount firms can be tricky to understand, and in the end, may not be the most important factor. Because I watch every dime we spend, it may seem odd that cost isn’t the most important factor to me (after all, we are talking about “discount” sites, not full-service brokerage firms). The reality, however, is that unless you are an active trader, the cost of a few trades a year will be small.

Summary Of The Best Online Discount Brokers

TD Ameritrade

The now least expensive discount broker on our list, TD Ameritrade, offers some of the best online trading tools. Its platform “Trade Architect” is my favorite portal to use, specifically designed for casual investors like myself. If you’re looking for a more hardcore approach, they also have a thinkorswim platform that offers more data, more 3rd party research and more functionality.

Again, decided to cater to both casual and advanced investors by creating two separate mobile apps.

TD Ameritrade Mobile (for the casual investor)
Mobile Trader (for the advanced investor)

TD AmeritradeSummary:

Trade Stocks: $0 flat fee
Margin Rates: -0.75% to +1.25% of a base rate (base rate = 8.25% as of 11/12/2020)
Broker Assist Fee: $25.00
Mutual Funds (Load): $0
Mutual Funds (No Load): $49.99
Minimum Deposit: None
Sign up Bonus:N/A

For more information check out our TD Ameritrade review or visit TD Ameritrade.

E*TRADE

E*TRADE has been on a buying spree. Back in 2014 TradeMonster and OptionsHouse merged. Now E*TRADE has acquired the combined entity. E*TRADE offers trading platforms and tools for any investment style. It offers low costs even for infrequent traders, like myself. E*TRADE also offers E*TRADE Pro for active traders. And of course, it offers an excellent mobile experience.

E*TRADE Summary:

Trade Stocks: $0
Trade Options: $0 ($0.65 per contract or $0.50 per contract w/ 30+ trades per quarter)
Margin Rates: Ranges from 7.00% to 10.50% based on debit balance
Mutual Funds: $0 to $19.99 per trade

Read More: E*TRADE Review

Ally Invest

I’ve banked at Ally for years. Its website is one of the easiest to use among all banks, including online banks. Its fees are low to non-existent, and its banking rates are some of the best you’ll find on deposit accounts. So it was no surprise that Ally brought the same consumer-friendly approach to investing.

At Ally Invest stock and ETF trades are just a flat fee of $4.95. For you options traders out there, Ally charges just $0.65 per contract plus a $4.95 base. If you have a $100,000+ average daily balance and/or more than 30 trades per quarter the cost per stock or ETF trade drops to $3.95 and options contracts fall to $0.50 + $3.95 base. It’s hard to imagine a lower cost.

Ally also offers a Cash Enhanced Robo Portfolio. Like other robe-advisors such as Betterment, Ally Invest manages the portfolio, including dividend reinvestment and rebalancing. Ally charges 0% for the service. The minimum investment is just $100.

Capital One Investing

Formerly ShareBuilder, Capital One Investing offers a full range of trading services. In addition to online trading, it also offers managed portfolios. While its fees are generally reasonable, its managed portfolios require a $25,000 minimum investment and charge 0.90% of assets under management. Due to the fees, we don’t recommend Capital One Investing’smanaged portfolio.

Capital One Investing Summary:

Trade Stocks: $6.95 flat fee
Trade Options: $0.75 + $6.95 base
Margin Rates:5.20% to 8.20%
Mutual Funds: $0 or $19.95
Bonus: Up to $600 based on the amount of deposit

Merrill Edge

Merrill Edge is one of my favorite platforms. In addition to online DIY investing, they offer a managed portfolio. You can invest with an advisor, if you so choose. And the website is incredibly easy to use.

Managed portfolios require a $5,000 minimum and cost 0.45% of assets under management. While this fee isn’t the lowest, it’s reasonable for those looking for some extra help.

Trade Stocks: $6.95 flat fee
Trade Options: $0.75 + $6.95 base
Margin Rates:5.50% to 9.625%
Mutual Funds: $0 or $19.95
Bonus: Up to $600 based on amount of deposit

How Much Will You Pay To Buy And Sell Equities Online

All of the firms make a point to advertise how much you pay to buy or sell stocks, mutual funds, options, or other equities. Today most trades at discount sites run from about $2.50 to $12 per trade. The key to remember, however, is that many of these firms charge additional fees, depending on how you use your account. These additional fees may include fees for large buy or sell orders, fees to buy or sell stocks trading at less than $1, account maintenance fees, account inactivity fees, and of course interest if you buy on margin.

Because these fees vary among discount brokers, the starting point is to understand how you will use your stock trading account. Will you trade frequently or just once or twice a month (or quarter)? Do you want to set up an automatic investment plan? Will you be buying stocks and mutual funds, or do you also plan to trade options? The answers to these questions will help you narrow the selection and ultimately pick the best broker for you investing needs.

Factors To Consider Other Than Cost

But just like most anything we buy, the cost is just one of many factors to consider. And the same is true when selecting a discount broker. So what are the factors besides cost that we should consider when selecting a discount stock broker? There are several, and they include ease of use, customer service, types of accounts offered, investing tools, type of investments you intend to buy, and account minimums. I’ve highlighted these and other factors below in the summary of the best online discount brokers. But just like cost, it’s important to know your investing goals when you evaluate your options. For example, account minimums may be a non-issue for you if you plan to invest a significant amount of money. Likewise, if you are looking for a specific account time (like an IRA), you can quickly eliminate those discount stock brokers that do not offer that account type.

Discount Broker Consolidation

Several brokers have acquired other online trading platforms. Ally Invest was previously TradeKing, until the online bank purchased the broker in 2016. TD Ameritrade has entered into an agreement to purchase Scottrade. E*TRADE acquired OptionsHouse.

The flurry of acquisitions has left the industry in a state of flux. How smoothly will customer accounts transfer to their new home? How will the loss of competition in the space affect fees and features?

Time will tell. As the dust settles, we’ll continue to update this list.

Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at RobBerger.com.

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Source: doughroller.net

Apache is functioning normally

December 2, 2023 by Brett Tams

AI’s impact on the job market and society is a topic of much debate. However, its potential to assist businesses in making informed decisions is undeniable. Artificial intelligence (AI) has permeated various aspects of our lives, sparking discussions about its possibilities and challenges. Will we witness the realization of AI’s capabilities in the upcoming year? SAS, a frontrunner in AI and analytics, has enlisted the insights of executives and experts from across the organization to forecast trends and pivotal developments in AI for 2024. Here are some of the forecasts they have put forward.

SAS AI predictions and trends for 2024

Generative AI will augment (not replace) a comprehensive AI strategy

SAS, with a recent commitment of $1 billion to AI-powered industry solutions, emphasizes the growing significance of generative AI in organizational strategies. In 2024, organizations will shift towards integrating this technology to complement industry-specific AI strategies.

In banking, simulated data for stress testing and scenario analysis will help predict risks and prevent losses. In health care, that means the generation of individualized treatment plans. In manufacturing, generative AI can simulate production to identify improvements in quality, reliability, maintenance, energy efficiency and yield.

Bryan Harris, Chief Technology Officer, SAS

AI will create jobs

Although introducing new AI technologies in 2024 and beyond may lead to temporary disruptions in the job market, it will also ignite the creation of numerous new jobs and roles, thereby contributing to economic expansion.

In 2023, there was a lot of worry about the jobs that AI might eliminate. The conversation in 2024 will focus instead on the jobs AI will create. An obvious example is prompt engineering, which links a model’s potential with its real-world application. AI helps workers at all skill levels and roles to be more effective and efficient.

Udo Sglavo, Vice President of Advanced Analytics SAS

AI will enhance responsible marketing

While AI holds the potential for optimizing marketing and advertising initiatives, it is essential to recognize that biased data and models can yield skewed outcomes.

As marketers, we must consciously practice responsible marketing. Facets of this are awareness of the fallibility of AI and alertness to possible bias creeping in. In SAS Marketing, we are implementing model cards that are like an ingredient list, but for AI. Whether you create or apply AI, you are responsible for its impact. That’s why all marketers, regardless of technical know-how, can review the model cards, validate that their algorithms are effective and fair, and adjust as needed.

Jennifer Chase, Chief Marketing Officer, SAS

Financial firms will embrace AI amid a Dark Age of Fraud

Even as consumers show increased vigilance against fraud, fraudsters use generative AI and deepfake technology to refine their multitrillion-dollar trade. Phishing messages are becoming more sophisticated, and imitation websites appear remarkably authentic. With simple online tools, a criminal can replicate a voice after just a few seconds of audio.

We are entering the Dark Age of Fraud, where banks and credit unions will scramble to make up for lost time in AI adoption – incentivized, no doubt, by regulatory shifts forcing financial firms to assume greater liability for soaring APP [authorized push payment] scams and other frauds.

Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions, SAS

Shadow AI will challenge CIOs

CIOs previously faced challenges with ‘shadow IT’ and will now encounter ‘shadow AI’ – solutions utilized by or developed within an organization without official approval or monitoring by IT.

Well-intentioned employees will continue to use generative AI tools to increase productivity. And CIOs will wrestle daily with how much to embrace these generative AI tools and what guardrails should be put in place to safeguard their organizations from associated risks.

Jay Upchurch, Chief Information Officer, SAS

Multimodal AI and AI simulation will reach new frontiers

The next step in generative AI is the combination of text, images, and audio into one model. This is called multimodal AI, which allows for the simultaneous processing of diverse inputs.

An example of this will be the generation of 3D objects, environments and spatial data. This will have applications in augmented reality [AR], virtual reality [VR], and the simulation of complex physical systems such as digital twins.

Marinela Profi, AI/Generative AI Strategy Advisor, SAS

Digital-twin adoption will accelerate

Organizations can refine operations, enhance product quality, boost safety measures, improve reliability, and decrease emissions through digital twins.

Technologies like AI and IoT [Internet of Things] analytics drive important sectors of the economy, including manufacturing, energy and government. Workers on the factory floor and in the executive suite use these technologies to transform huge volumes of data into better, faster decisions. In 2024, the adoption of AI and IoT analytics will accelerate through broader use of digital-twin technologies, which analyze real-time sensor and operational data and create duplicates of complex systems like factories, smart cities and energy grids.

Jason Mann, Vice President of IoT, SAS

Insurers will confront climate risk, aided by AI

After years of waiting, climate change has evolved from a potential threat to a real and urgent danger. The global insurance industry faced more than $130 billion in losses from natural disasters in 2022, putting immense pressure on insurers worldwide. In the United States, insurers face scrutiny for increasing premiums and pulling out of heavily affected states like California and Florida, leaving millions of customers in a difficult position.

To survive this crisis, insurers will increasingly adopt AI to tap the potential of their immense data stores to shore up liquidity and be competitive. Beyond the gains they realize in dynamic premium pricing and risk assessment, AI will help them automate and enhance claims processing, fraud detection, customer service and more.

Troy Haines, Senior Vice President of Risk Research and Quantitative Solutions, SAS

AI importance will grow in government

AI will soon have an impact on government workforces. Governments struggle to attract and keep AI experts because of their high salaries, but they will actively seek out this talent to support regulatory efforts.

And like enterprises, governments will also increasingly turn to AI and analytics to boost productivity, automate menial tasks and mitigate that talent shortage.

Reggie Townsend, Vice President of the SAS Data Ethics Practice

Generative AI will bolster patient care

In 2024, organizations will continue to advance health and enhance patient and member experiences by developing AI-powered tools for personalized medicine. These tools will include patient-specific avatars for clinical trials and the generation of individualized treatment plans.

Additionally, we will see the emergence of generative AI-based systems for clinical decision support, delivering real-time guidance to payers, providers and pharmaceutical organizations.

Steve Kearney, Global Medical Director, SAS

Deliberate AI deployment will make or break insurers

In 2024, a top 100 global insurer will face closure due to prematurely implementing generative AI. Insurers are rapidly introducing autonomous systems without customizing them to their business models. They aim to use AI for expedited claims processing to counteract recent poor business performance. However, following layoffs in 2023, the remaining workforce will need more support to oversee AI’s ethical and widespread implementation.

The myth of AI as a cure-all will trigger tens of thousands of faulty business decisions that will lead to a corporate collapse, which may irreparably damage consumer and regulator trust.

Franklin Manchester, Global Insurance Strategic Advisor, SAS

Public health will get an AI boost from academia

The COVID-19 pandemic has made it evident that safeguarding our population will necessitate exceptional technology and collaboration. Public health embraces technological advancements like never before.

Whether overdoses or flu surveillance, using data to anticipate public health interventions is essential. Forecasting and modeling are rapidly becoming the cornerstone of public health work, but the government needs help. Enter academia. We will see an increase in academic researchers carrying out AI-driven modeling and forecasting on behalf of the government.

Dr. Meghan Schaeffer, National Public Health Advisor and Epidemiologist, SAS

At SAS Innovate, April 16-19, 2024, in Las Vegas, you have the opportunity to discuss with SAS executives, gain insights into their forecasts, and delve into the newest developments in AI and analytics. Secure your spot to receive updates on the conference and take advantage of early-bird pricing.

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Mihaela Lica Butler is senior partner at Pamil Visions PR. She is a widely cited authority on public relations issues, with an experience of over 25 years in online PR, marketing, and SEO.She covers startups, online marketing, social media, SEO, and other topics of interest for Realty Biz News.

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Source: realtybiznews.com

Introduction to the Millionaire Mindset and Goals

Defining What it Means to be a Millionaire

Step 1: Stay Away From Debt

Step 2: Invest Early and Consistently

Benefits of Compounding Returns

Step 3: Make Saving a Priority

Effective Saving Strategies for Long-term Wealth

Tips for Boosting Earnings and Maximizing Income

Step 5: Cut Unnecessary Expenses

Identifying and Eliminating Non-Essential Spending

Step 6: Keep Your Financial Goals in Focus

Step 7: Consult with Investment Professionals

Leveraging Expert Advice for Wealth Building

Step 8: Repeat and Refine Your Financial Plan

Additional Tips for Wealth Building

Lifestyle Considerations and Spending Habits

The Takeaway

Transport your family and visitors back in time with retro kitchen concepts.

What defines retro style?

Retro kitchen ideas to travel back in time

Peel and stick checkboard floors

Retro gallery wall

Coca-Cola decor

Vintage wall clock

Vintage bar stools

Mid-century modern appliances

Diner-style booth furniture

Antique lighting fixtures

Take a trip down memory lane

Benefits of technology for repurchase risk

Specific types of technologies to reduce risk

Benefits to lenders and consumers

Related

How Much Does It Cost to Become a Veterinarian?

How Long Does It Take to Become a Veterinarian?

6 Steps to Become a Veterinarian

Step 1: Check Off The Prerequisites

Step 2: Determine How to Pay for School

Step 3: Research Veterinary Schools

Step 4: Apply to Veterinary Schools

Step 5: Attend Veterinary School

Step 6: Begin The Job Search

The Takeaway

FAQ

Where do veterinarians work?

What does a veterinarian do?

What’s the salary and job outlook for a veterinarian?

What hours do vets work?

Average Salaries for Different Types of Nurses

Average Salaries and Location

How Much Does it Cost to Get a Nursing Degree?

Paying for Your Nursing Degree

Student Loan Forgiveness Options for Nurses

Repaying Student Loans after Nursing School

The Takeaway

Compare Discount Brokerage Accounts

Best Online Discount Brokers Firms of 2023

Summary Of The Best Online Discount Brokers

TD Ameritrade

E*TRADE

Ally Invest

Capital One Investing

Merrill Edge

How Much Will You Pay To Buy And Sell Equities Online

Factors To Consider Other Than Cost

Discount Broker Consolidation

Generative AI will augment (not replace) a comprehensive AI strategy

AI will create jobs

AI will enhance responsible marketing

Financial firms will embrace AI amid a Dark Age of Fraud

Shadow AI will challenge CIOs

Multimodal AI and AI simulation will reach new frontiers

Digital-twin adoption will accelerate

Insurers will confront climate risk, aided by AI

AI importance will grow in government

Generative AI will bolster patient care

Deliberate AI deployment will make or break insurers

Public health will get an AI boost from academia