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Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode:

Explore how the 2024 presidential candidates’ tax plans could impact your finances and what to know before voting.

What tax proposals are the 2024 presidential candidates making, and how might these policies affect your finances? What should you know before voting on tax issues? Hosts Sean Pyles and Anna Helhoski discuss the key differences in the candidates’ tax plans and how to make informed decisions to protect your financial future. They begin with a discussion of the importance of tax policy, with tips and tricks on understanding credits and deductions, how taxes fund government services, and the long-term effects of tax laws on your paycheck.

Then, Anna talks to Amy Hanaeur, the executive director of the left-leaning Institute on Taxation and Economic Policy, to discuss the candidates’ specific tax proposals. They discuss proposals to cut corporate taxes, extend expiring tax cuts, provide child tax credits, and eliminate taxes on Social Security benefits.

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Episode transcript

This transcript was generated from podcast audio by an AI tool.

Sean Pyles:

Taxes. Nobody likes them, but it’s how we pay for government, from local police and fire departments to the folks at the national level who make our currency and on and on. So what’s a fair and effective tax structure? That’s an argument democracies have been having since the Greeks came up with the system of government, and it’s an argument that we’re still having in earnest in the 2024 presidential campaign.

Amy Hanaeur:

Two-thirds of the cost of making those individual tax cuts permanent would go to the richest fifth of Americans. So to the richest 20% of Americans. So just for a sense of what that would cost, in 2026 alone, that would cost more than $280 billion.

Sean Pyles:

Welcome to NerdWallet’s Smart Money podcast. I’m Sean Pyles.

Anna Helhoski:

And I’m Anna Helhoski.

Sean Pyles:

This is episode three of our Nerdy deep dive into presidential policy and personal finance. And today, Anna, it’s so exciting. We’re going to talk tax policy.

Anna Helhoski:

Wait, wait, don’t everybody leave yet. This is really important stuff. It has a huge effect on your bottom line, so you should know what the two presidential candidates are proposing to do with your tax dollars and then vote accordingly.

Sean Pyles:

Sometimes it’s hard to figure out exactly what this or that tax policy will do to your paycheck. There are proposals for credits and deductions and write-offs, and it can pretty quickly induce your brain to go on zombie status. But even just the broad strokes are important to understand, so we’re going to go through some of that today.

Anna Helhoski:

And remember, Sean alluded to this at the top of the show. Taxes pay for just about every government service you use. Every time you drive on a highway, every time you call 911. Every time you jangle cash in your pocket. Every time you pay for college with a federal student loan.

Sean Pyles:

Every time you get a letter delivered by the USPS. Every time you go to a national park. Every time your grandparents get a Social Security check. Every time you find yourself in a court of law. And every time you realize that national security is pretty important. All of that is the government at work and it’s funded by the money that comes out of your paycheck.

Anna Helhoski:

Is some government spending ridiculous? Yup. Some of my own spending is ridiculous, by the way, but I digress. You can argue over the size of government. A famous Republican anti-tax lobbyist named Grover Norquist once said his goal was to “reduce it to the size where I can drag it into the bathroom and drown it in the bathtub.” But it’s hard to imagine how anything would get paid for if there weren’t taxes, including all those other campaign promises that candidates are making.

Sean Pyles:

Right. How would anything get done if it weren’t for, you know… government? But as we’ve been saying throughout this series, the most important part of all of this is that you are an educated voter. That you understand how the presidential candidates’ tax policies could affect you.

Anna Helhoski:

And then take that knowledge to the ballot box and vote your conscience. Or for a lot of us, take that knowledge to the mailbox after you’ve filled in your ballot at home.

Sean Pyles:

I’ve got to say I really love voting from the comfort of my couch, usually in my pajamas. As we’ve noted previously, we want to say at the outset that we are not here to take sides or fan the flames of an already contentious political season. Our goal here is the same goal that we always have at NerdWallet: to help you, our listeners, make smart informed decisions about the stuff that impacts your finances. Sometimes that means choosing the right credit card for your needs. Other times, that means voting for the candidate who you believe will help you achieve your life and financial goals. All right. Well, we want to hear what you think too, listeners. To share your thoughts around the election and your personal finances, leave us a voicemail or text the Nerd hotline at 901-730-6373. That’s 901-730-N-E-R-D, or email a voice memo to [email protected]. So, Anna, who is helping us sort through tax policy today?

Anna Helhoski:

Today, we’re speaking with Amy Hanaeur. She’s the executive director of the left-leaning Institute on Taxation and Economic Policy. Amy Hanaeur, thank you so much for joining us.

Amy Hanaeur:

Thanks for having me.

Anna Helhoski:

Unsurprisingly, Kamala Harris and Donald Trump have introduced some pretty different tax plans. So to kick off our discussion, I’m hoping you can give an overview of what stands out most to you in these plans.

Amy Hanaeur:

I would say there’s a pretty dramatic difference between Vice President Harris’s tax proposals and former President Trump’s tax proposals. It’s one of the biggest policy differences between these candidates.

Vice President Harris has plans to raise revenue from wealthy people and corporations. She’s also a little more concrete about her plans for the child tax credit, which helps middle-class families with children and other families with children. Trump has kind of a history of slashing taxes in ways that largely redound to wealthy people and corporations. He has also put forth some middle-class tax cuts. Those also will go to the wealthiest as well as to middle-class families. So I think his proposals all in all are more expensive and can make it a little harder to pay for the things that are spending priorities for either party.

Anna Helhoski:

Harris has come out with a number of tax breaks, including up to $50,000 for new small businesses, a $25,000 housing tax credit for first-time home buyers, and an increased child tax credit that includes $6,000 for new parents. Would these be effective policies and walk us through their feasibility?

Amy Hanaeur:

I would say that the $6,000 newborn child tax credit along with her proposal to restore the expanded child tax credits for older children that took place during the pandemic are very proven, very effective policies. And we know that the expanded child tax credit cut poverty almost in half. We know that it helped lots and lots of middle-class families. And we know that even at a time when unemployment was sky high, those child tax credits kept the economy moving and kept a lot of families solvent. And the new expanded $6,000 that she’s proposing for newborns is really important because that first year is so important developmentally for children, and so for families to have a little bit more resources in that first year, I think, makes a lot of sense.

The other two things that you asked about I think are a little more marginal in their effect and maybe not the very best approaches. The tax break, the $50,000 for new businesses is a little complicated because a lot of new businesses don’t actually earn enough to pay taxes. And so they would probably stretch that until when they are profitable, and then they would reduce their taxes once they are profitable further down the road. We just don’t think that that makes as much sense as some other approaches. The tax credit for new home buyers is an interesting idea. I think the Vice President is pairing that with some activities on the supply side to make sure that there’s more housing. But I think that those supply-side activities are a crucial part of that because if you just give a tax credit to new home buyers, it could end up driving up the cost of housing. I don’t think it’s the most important or the strongest part of her tax proposals.

Anna Helhoski:

And we need to have more housing supply in order to have more first-time home buyers.

Amy Hanaeur:

Anna Helhoski:

I want to shift over to Trump. He certainly wants to extend the 2017 tax cuts made under his administration, and he said he plans to lower the corporate tax rate even further. Can you remind us what was in the 2017 Tax Cuts and Jobs Act and what is set to expire next year? I know it was a complex law, but if you could give us the highlights.

Amy Hanaeur:

The 2017 tax law really cut the corporate rate from 35% to 21%, and the result of that was that corporate tax payments plummeted, and a lot of huge profitable corporations continued to pay far below the statutory rate. So the rate was 21%, but actually, lots and lots of corporations pay much, much less than that. Our research shows, and the research of a lot of other scholars shows that these kinds of cuts increase income and racial inequality. They also… This is kind of important. They send a massive windfall like 40 cents of every dollar to foreign investors because foreign investors own 40% of corporate stocks. That is just not a very well-targeted proposal, and it would really cost us a lot in revenue, which could reduce the ability of either party to execute on their spending priorities.

Anna Helhoski:

Has the former president said he wants all of those tax cuts renewed? Are there any proposed changes or is it just an extension?

Amy Hanaeur:

The corporate tax rate that I was just talking about is actually permanent, the cut that they already made. But as you said, he’s proposing further cuts to that corporate rate. So that’s a new proposal. That’s not an extension. The part that they made temporary were the individual components of the 2017 tax law, and they did that because it cost too much and it wasn’t possible to pass it with the policy mechanism that they were trying to use at the time because they were trying to do it with only one party’s support. In order to get it below the overall cost limit that is imposed on Congress, they made the individual tax cuts temporary. Former President Trump has said that he wants to extend all of the individual tax cuts that were in that 2017 law.

Anna Helhoski:

What has Harris said about that tax legislation?

Amy Hanaeur:

Well, she has said that with all of her tax cuts, there would not be a situation in which somebody earning less than $400,000 pays more. She has said that for the individual tax cuts, she wants to extend them for those earning less than $400,000 but phase them out over $400,000. I can say a little more about what the 2017 law did distributionally.

Anna Helhoski:

Amy Hanaeur:

If that’s helpful.

Anna Helhoski:

Absolutely.

Amy Hanaeur:

That law as a whole did deliver really large tax cuts to those in the top 1%, and that’s kind of a narrow sliver. I’m talking there about people with income over $800,000 a year. These cuts are the part that expire in 2025, but the Trump campaign wants to make them permanent. Two-thirds of the cost of making those individual tax cuts permanent would go to the richest fifth of Americans, so to the richest 20% of Americans. So just for a sense of what that would cost, in 2026 alone, that will cost more than $280 billion. It really does start to cut into revenue.

Anna Helhoski:

Have you seen any shifts in where Trump’s tax policy proposals are now versus when he was president?

Amy Hanaeur:

I would say that he’s kind of looking to just intensify his previous approach. Now, he’s floated some other things and his vice-presidential candidate has floated some other things, but in terms of concrete things on paper, it’s a little bit more of the same. He talked about, for example, repealing the tax on Social Security benefits. It would lower taxes for US households, I think, by an average of about $550 per household. But it would come with a big price because it would reduce Social Security and Medicare revenues by about $1.5 trillion over the next decade.

Anna Helhoski:

I want to talk specifically about Trump’s tariff proposal. He wants to do a 10% to 20% across-the-board tariff on all imports and up to 60% for goods from China. He has also suggested replacing personal income taxes with these new tariffs. Amy, how do tariffs on foreign countries and taxes for Americans intertwine?

Amy Hanaeur:

This is a sort of surprising proposal because it’s a real departure from the traditional way that Republicans have approached this issue. And frankly, a departure from how Democrats have approached this issue in recent years as well. Most economists absolutely agree that tariffs fall on consumers, but there can be reasons why advocates for particular industries, sometimes the owners, sometimes the workers, may want them at different times for particular economic development reasons or retaliatory reasons if they think that another country has appropriated a technology or industry that we had previously dominated in. I think what’s really challenging about the Trump proposal is that it is so across-the-board, and also that he hasn’t been very clear about exactly what he would do. So at some times, he has talked about 10% across-the-board tariffs. At other times, he has talked about 20% across-the-board tariffs. That’s a pretty big difference. And then he’s talked about, as you said, the additional 60% on China. An economist named Kim Clausing estimated 20% across-the-board tariffs would cost the typical household $2,600 a year. It’s a substantial hit to families and it manifests itself much in the way that inflation does. It would just be basically every product that every household buys would end up costing more.

Anna Helhoski:

Now, the Biden administration has largely kept the tariffs that Trump imposed during his previous term. What has Harris said about that and her view in general on tariffs?

Amy Hanaeur:

I’m not sure that she has said that much. I think that this is a part of the Biden administration policy that they are perhaps somewhat quiet about. I think it’s challenging to repeal those tariffs for political reasons. But I think from a policy perspective, it’s just important to note that they do fall on households. They’re not as large as those 20% across the board and 60% on China tariffs that the former president is putting forth. So they don’t have the same kind of impact, but it is kind of universally accepted that those kinds of tariffs do fall on consumers in terms of increasing prices.

Anna Helhoski:

More of our interview in a moment. Stay with us. Amy, real quick, I just want to turn back to Social Security for a second. Trump had said that he wants to get rid of the tax on Social Security. What would be the impact of that on the average American? What would that mean for their paychecks right now and for the prospect of them having Social Security when they reach retirement age?

Amy Hanaeur:

The Tax Policy Center did an analysis of this proposal and found that it would lower taxes for US households by an average of $550 a year. But at a big, big cost because it would end up reducing revenues in Social Security and Medicare by about $1.5 trillion with a T over the next decade. This would end up driving both programs into insolvency much faster, and so it would end up resulting in sharply reduced benefits for tens of millions of recipients. And the Tax Policy Center has not yet estimated, I don’t believe, the exact nature of those benefit reductions, but we know that Social Security is just one of our most important social programs, pulls a huge number of people out of poverty. The elderly used to be the poorest population age group in the United States, and after Social Security was put in place, they became the least likely to be poor among American households. So it’s really a huge part of our social safety net and just a huge part of our society.

Anna Helhoski:

Now, Trump and Harris don’t agree on very much, but one place where there is overlap is that both candidates have proposed to lift the tax on tips. Can you explain that for us and what it would mean for the average American, both those who receive tips and those who pay them?

Amy Hanaeur:

Getting rid of taxes on tips is probably more about politics than about creating a great public policy. First of all, a very small share of the workforce receives all of its income from tips. And so it would be kind of flawed because do we really think that a waitress who earns a very modest salary and a teacher’s aide or a teacher or a nurse’s aide who earns a really modest salary, do we really think that the waitress should pay a lower tax rate than a teacher or teacher’s aide or nurse’s aide who earns the same amount? And that would be the effect of this policy. It would also really encourage shifting some compensation to tips. So high-paid professionals could ask that their fees instead be structured as tips.

Now, Vice President Harris does have a check in place for her proposal that kind of gets at that because she has suggested ways that it could be targeted toward those earning under $75,000 a year. That certainly makes a big difference in terms of the possibility for gamesmanship by very wealthy earners. But fundamentally, we just think there are better ways at getting at helping low-wage workers who receive tips. Namely, we could get rid of the tipped wage. We could say that every worker deserves a minimum wage. The sub-wage for tipped workers is $2.13 an hour at the federal level. So we’re talking about a ridiculously low wage in 2024.

Anna Helhoski:

It seems like either candidate will struggle to bring forth most of these proposals if there’s not enough support in Congress. Either Harris’s or Trump’s proposals, what do you see there being congressional support for? And is there anything that Harris or Trump could do unilaterally?

Amy Hanaeur:

Obviously, a lot depends on the composition of Congress. So if either side gets a trifecta, if we have Republicans taking both Houses and the presidency, I would expect that former President Trump would be able to again cut taxes on billionaires and again cut taxes on corporations. I don’t think his Social Security proposals would go through under any party because Social Security is sort of famously the third rail of American politics, and it really does disrupt our social structures to think about reducing the funding available to pay for Social Security.

For Vice President Harris, if she were to get a trifecta, I think she would probably succeed in getting some of those revenue raisers. I could see her getting through the extensions of the individual tax cuts for those earning less than $400,000 but getting rid of them for those earning more. And in the perhaps most likely situation where we have divided government, I think a lot of this would be up for debate, and I think we’d end up seeing some mishmash of these two approaches.

Anna Helhoski:

Amy, what have we not seen Kamala Harris or Donald Trump weigh in on that you think is an oversight?

Amy Hanaeur:

There are pieces that are in Kamala Harris’s written proposals that don’t get a lot of attention. And one of the big ones is something very obscure called stepped-up basis. Sometimes people call it buy, borrow, and die. That basically says that for very wealthy people, if they acquire stocks or other assets that really grow in value over the time that they own those assets, that if they pass those on to heirs without selling them first, nobody ever pays taxes on the difference in value. So that’s always something that I think should get more attention. But it’s complicated to explain. As you can see with my efforts to explain it, it’s just complicated. And it’s easier to say, “We’re going to raise the corporate tax rate or we’re going to lower the corporate tax rate.” I think that’s something that could get more attention.

Anna Helhoski:

Is there anything else you want to call out about Harris or Trump’s tax plans?

Amy Hanaeur:

I would just say the big picture is: The Harris approach raises more revenue. It raises it primarily from the wealthiest and corporations. The Trump approach puts us deeper in debt and gives a lot more away to wealthy people and corporations. And both of them, I think, have some proposals that would help middle-class families on the tax side.

Anna Helhoski:

All right. Amy Hanaeur, thank you again for talking with me today.

Amy Hanaeur:

Yeah, thank you so much.

Anna Helhoski:

Sean, I want to emphasize one thing before we wrap up, and that’s how much authority the Executive Branch has to change taxes. The president does technically have the power to tax, but they generally don’t exercise that. What they do is press Congress to pass policies that they want. What we don’t know right now is what campaign promises will have bipartisan appeal once we have both a new administration and a new congressional makeup.

Sean Pyles:

You know, Anna, tax is a funny thing, where you make one change in one area and it can have drastic, sometimes unintended ripple effects in other areas. Two examples that come to mind are how Harris providing a tax credit for first-time home buyers could drive up home prices, and how Trump’s tax cuts exacerbated racial and wealth inequality. And these examples underscore how complicated and confusing tax policy can be. But it’s really, really important for all of us to engage with this since a number of components of the Tax Cuts and Jobs Act of 2017 will sunset in 2025. So we have a unique opportunity right now to reshape taxes and our votes will have a hand in that.

Anna Helhoski:

And one thing that Amy Hanaeur didn’t delve too deeply into is the no tax on tips policy that both Trump and Harris are endorsing. But fortunately, listeners, we did go into no tax on tips in a previous episode. So have a listen to our August 21st episode on that topic, which we’ll also link to in today’s show notes.

Sean Pyles:

Anna, tell us what’s coming up in the fourth and final episode of the series.

Anna Helhoski:

Sean, we’re going to talk about two specific areas of policy that affect a large swath of voters: student loans and healthcare.

Eliza Haverstock:

The fate of the repayment plan is now largely in the hands of the courts. However, the president can influence the situation by directing the Justice Department how to proceed with appeals. Harris would likely continue to vigorously defend the SAVE plan in court. Meanwhile, Trump is not likely to defend SAVE.

Anna Helhoski:

For now, that’s all we have for this episode. Do you have a money question of your own? Turn to the Nerds and call or text us your questions at (901) 730-6373. That’s (901) 730-N-E-R-D. You can also email us at [email protected]. And remember, you can follow the show on your favorite podcast app, including Spotify, Apple Podcasts, and iHeartRadio to automatically download new episodes.

Sean Pyles:

This episode was produced by Tess Vigeland and Anna. I helped with editing. Rick VanderKnyff and Amanda Derengowski helped with fact-checking. Megan Maurer mixed our audio. And a big thank you to NerdWallet’s editors for all their help.

Anna Helhoski:

And here’s our brief disclaimer. We are not financial or investment advisors. This nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.

Sean Pyles:

And with that said, until next time, turn to the Nerds.

Source: nerdwallet.com

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From bustling urban centers to serene coastlines and a rich historic heritage, Maryland offers residents a diverse range of lifestyles to enjoy. Whether you’re drawn to its proximity to Washington, D.C., or the charm of the Chesapeake Bay, it’s a place filled with both opportunities and challenges. If you’re wondering, Is Maryland a good place to live?, this article will dive into the pros and cons of living in Maryland, so you can make an informed decision.

Is Maryland a good place to live?

Moving to Maryland provides an eclectic mix of urban energy and coastal relaxation. The largest cities, including Baltimore, Germantown, and Columbia, have distinct vibes. Baltimore is known for its bustling harbor, rich maritime history, and iconic local cuisine, especially its famous crab cakes. Columbia, on the other hand, offers suburban comforts and a growing job market. Maryland’s central location between Washington, D.C., and Philadelphia makes it an ideal base for commuters seeking easy access to both major cities.

The state is home to major employers like Johns Hopkins University and Under Armour, making it a hub for healthcare and technology sectors. Education in Maryland is strong, with excellent public school systems and top-tier universities like the University of Maryland. Maryland also has a thriving cultural scene, from the world-class museums in Baltimore to Annapolis’ maritime history and lively festivals celebrating everything from seafood to arts.

Maryland state overview

Population 6,177,224
Biggest cities in Maryland Baltimore, Columbia, Germantown
Average rent in Baltimore $1,455
Average rent in Columbia $2,191
Average rent in Germantown $1,693

1. Pro: Proximity to major cities

Living in Maryland means easy access to major cities like Washington, D.C., Philadelphia, and even New York City. If you live in places like Silver Spring or Rockville, you’re just a short drive or Metro ride away from Washington, D.C. This proximity makes it ideal for those who want to work in the capital but prefer a more suburban lifestyle. Maryland’s location also makes weekend trips to Philadelphia or NYC entirely doable.

Travel tip: If you’re planning a quick trip to NYC, consider taking the Amtrak from Baltimore’s Penn Station—the Acela Express will get you there in just under three hours, avoiding the hassle of driving and parking in the city.

2. Con: High cost of living

With all that convenience comes a price, and renting in Maryland can be costly depending on where you choose to live. Cities like Bethesda and Rockville in Montgomery County see some of the highest rental rates, with the average one-bedroom apartment costing around $2,431 per month. Annapolis, known for its waterfront charm, also carries a premium, with average rents hovering around $2,231. In contrast, cities like Frederick offer more affordable options, where one-bedroom apartments average between $1,863. Overall, rental rates in Maryland are higher than the national average, and combined with rising costs in groceries, healthcare, and utilities, budgeting can be a challenge for many residents.

3. Pro: Abundant outdoor recreation

If you’re an adventurer, Maryland provides a diverse range of landscapes. From the Appalachian Mountains in the west to the Chesapeake Bay and Atlantic beaches in the east, the state has it all. You can hike the C&O Canal, kayak in the bay, or relax on the shores of Ocean City. For those who enjoy winter sports, the mountains in Western Maryland even offer skiing and snowboarding. Nature is always nearby, and you’ll never run out of places to explore.

Insider scoop: For a unique experience, head to Assateague Island, where you can camp right on the beach and wake up to wild horses grazing by the shore.

4. Con: Traffic congestion

Maryland’s proximity to major metropolitan areas comes at a cost—traffic. If you commute into Washington, D.C., Baltimore, or any of the state’s larger cities, be prepared for significant congestion, especially during rush hour. The I-495 Beltway and I-95 are notorious for backups, with commutes sometimes stretching over an hour.

5. Pro: Strong job market

Maryland has a robust job market, with opportunities in healthcare, education, technology, and government sectors. The presence of top employers like Johns Hopkins and the National Institutes of Health ensures strong growth in the medical and biotech fields. Maryland’s proximity to D.C. also means a wealth of government and contracting jobs. Plus, the tech sector is booming in hubs like Columbia, creating even more opportunities.

6. Con: Humid summers

Summers in Maryland can be oppressive, especially in July and August. The humidity makes temperatures feel hotter than they are, often climbing into the 90s. If you’re not a fan of sticky, muggy weather, the summer months can be uncomfortable. The combination of high heat and humidity can make outdoor activities less enjoyable, and air conditioning becomes essential for surviving the season.

Insider scoop: If you’re renting an apartment in Maryland, invest in a good dehumidifier to help keep the humidity in check indoors. It’ll make a big difference in your comfort level and even help prevent issues like mold and mildew, especially in older buildings with less ventilation.

7. Pro: Great education systems

Maryland’s public schools consistently rank among the best in the nation. Maryland also has prestigious universities, including Johns Hopkins University, the University of Maryland, and the U.S. Naval Academy in Annapolis. Whether you’re looking for quality K-12 education or higher education, Maryland delivers.

8. Con: Heavy tax burden

Maryland residents face some of the highest tax burdens in the country, including income, property, and sales taxes. The state income tax rates can range up to 5.75%, depending on your earnings, and local jurisdictions can add even more on top of that. Property taxes are also higher than the national average, which can put a strain on homeowners, especially in the wealthier counties.

9. Pro: Cultural and culinary diversity

Maryland’s cultural diversity is reflected in its food, arts, and festivals. From the famous crab cakes of the Chesapeake Bay to Baltimore’s growing foodie scene, Maryland is a haven for food lovers. The state celebrates its maritime heritage with annual events like the Maryland Seafood Festival and the Annapolis Sailboat Show. And if you’re into the arts, Baltimore’s museums, theaters, and galleries will keep you busy. 

Insider scoop: Don’t miss the chance to explore the Preakness Stakes at Pimlico Race Course each May, a thrilling horse race that embodies Maryland’s equestrian culture.

10. Con: Unpredictable weather

The weather in Maryland is unpredictable. While the state enjoys four distinct seasons, you can experience a wide range of weather conditions in a short period. Winters can bring snowstorms, while summers can see severe thunderstorms and occasional hurricanes, particularly along the coast. Spring and fall are usually mild, but you never know when a sudden cold front or heatwave will appear, making it tricky to plan outdoor events.

Pros and cons of living in Maryland: Overview

Pros Cons
Proximity to major cities High cost of living
Abundant outdoor recreation Heavy commute times
Strong job market Humid summers
Great education systems Heavy tax burdens
Cultural and culinary diversity Unpredictable weather

Source: rent.com

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The most notable change: Beginning in January 2025, you’ll be able to earn elite-qualifying miles (or EQMs, which allow you to earn elite status with Alaska) when you redeem your Mileage Plan miles for flights, even on partner airlines. Currently, most airlines don’t allow you to earn elite miles on award flights, and only Delta lets you earn elite miles on partner award flights (though the cost to use miles on partner flights is usually prohibitive).

This a huge boon for Alaska Airline loyalists — especially because the requirements to qualify for each status tier in the Alaska Mileage Plan remain unchanged, even with more ways to qualify for elite status.

What’s new in 2025

These are the most noteworthy Alaska Mileage Plan changes that will take effect in January 2025:

  • EQMs on award flights and partner airlines: All award flights booked using Mileage Plan miles on Alaska and partner airlines will now count towards elite status and earn EQMs based on distance flown. You’ll earn one EQM for each mile flown. 

  • EQM bonuses through other partners: Earn 1,000 EQMs for every 3,000 miles earned through the Mileage Plan shopping and dining portals and through non-airline partners like Bilt and Lyft. Previously, you could earn bonus miles through these partners, but not EQMs.

  • New milestone rewards: Earn selectable milestone rewards, such as bonus miles and lounge access, after eclipsing each of the following EQM thresholds in a calendar year: 10,000; 30,000; 55,000; 85,000; 150,000; 200,000; and 250,000 EQMs. Previously, you’d have to qualify for a new level of elite status (starting at 20,000 EQMs) to get such rewards.

  • Lower mileage rates for booking partners directly: This was the one negative change in Alaska’s news, but it affects a smaller group of flyers. Mileage earnings rates will now be lower if you book travel through a partner airline’s website and credit your flight to Mileage Plan, but will remain generally unchanged if you book with a partner directly through Alaska Airlines. 

The best airline rewards program gets better (for most people)

This addition of benefits without requiring more EQMs to qualify for each loyalty tier has the Alaska Mileage Plan flying in rarefied air, especially when compared to the loyalty program devaluations we’ve grown accustomed to.

One exception will be for people who fly frequently on partner airlines and credit their flights to Mileage Plan. To get the most airline miles and EQMs on partner airlines, you’ll now have to book those flights directly through Alaska Airlines, which may be more expensive or potentially not available.

How to maximize your rewards

Source: nerdwallet.com

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Tesla’s ‘We, Robot’ event was the talk of the town — for reasons both good and bad — but one thing caught our eye during Elon Musk’s presentation. And it wasn’t Tesla’s self-driving taxi.

As the company unveiled its revolutionary Tesla Optimus robots, which walked among the crowds at the event, Elon Musk revealed some of the robots’ impressive capabilities.

In a video, Optimus was shown performing tasks that would typically be handled by humans, like carrying a package inside from the porch and even watering plants. Naturally, the house featured in the “We, Robot” presentation caught our eye — particularly since it boasted impeccable design and oodles of contemporary appeal.

And it turns out, the beautiful home is for sale, and it sports a $6,850,000 price tag (Jason Peteler of Revel Real Estate and Matthew Yim of Coldwell Banker hold the listing).

Like Fancy Pants Homes’ content? Be sure to follow us on MSN

Showcasing Tesla Optimus in a home setting

Photo courtesy of Tesla, Inc.

Located in Brentwood, Los Angeles, the house served as a backdrop to the polished presentation video that showcased Tesla’s Optimus Robot and its many capabilities.

The video marked the first time Tesla’s humanoid robot has ever been featured inside a home. It also gave us a better understanding of the types of tasks Optimus can take on around a house, which included cleaning up, serving drinks, and carrying groceries inside.

Driving millions of views

Photo courtesy of Tesla, Inc.

While it has since been taken down, the video of Tesla Optimus interacting with the home had already generated over 9 million views on X and 1.5 million views on YouTube — making both the robot and the property global talking points.

Luckily, some Tesla fans thought to save it and share it on their own accounts, so you can still check out the official video here.

The home in the background of the video

Photo credit: Josh Spooner and Todd from LA Light

According to the brokerage that’s representing the property, Tesla selected this listing from hundreds of other options because of its sleek, modern design that perfectly aligns with their brand.

“It’s truly the ideal showcase for the future of technology in a residential setting, and we’re thrilled to have been a part of it,” a Revel Real Estate spokesperson told us.

It’s currently for sale

Photo credit: Josh Spooner and Todd from LA Light

The property is currently listed for $6,850,000 with Jason Peteler of Revel Real Estate and Matthew Yim of Coldwell Banker.

“We at Revel are proud to work with such cutting-edge developers that Tesla would choose our property over all other available options in Los Angeles to unveil this technology,” said Jason Peteler, Luxury Estates Director of Revel Real Estate. 

“This collaboration is a perfect blend of innovation, luxury, and forward-thinking design, and we’re honored to be part of Tesla’s vision for the future.”

Inside the cutting-edge home

Photo credit: Josh Spooner and Todd from LA Light

Located in Mandeville Canyon, a small, affluent community in the Brentwood neighborhood of Los Angeles, the showstopping home is nestled behind 10-foot gates on a serene road off of Mandeville. 

Set on a 0.44-acre lot, the home has 5 bedrooms and 6 baths across 4,007 square feet of luxuriously appointed living space.

What didn’t make it into Tesla’s video presentation

Photo credit: Josh Spooner and Todd from LA Light

As you enter the main level, you are welcomed by elegant common areas such as a formal dining room and a living room with a wood-burning fireplace.

The kitchen that caught our eye

Photo credit: Josh Spooner and Todd from LA Light

The kitchen — heavily featured in the video — has an impressive 14′ Rosso Levanto marble island and an elegant bar with a stylish wallpaper background that quickly caught the eye of everyone watching the video presentation (myself included).

A serene primary suite

Photo credit: Josh Spooner and Todd from LA Light

Upstairs, the primary suite is a sanctuary of luxury, offering separate his and hers bathroom vanities and closets.

And an equally modern bath

Photo credit: Josh Spooner and Todd from LA Light

The elegant primary bathroom complements the bedroom and has a spa-like design with sleek, modern vanities, and an oversized walk-in shower.

Extra exposure for the Brentwood home

Photo credit: Josh Spooner and Todd from LA Light

Since the sleek Brentwood home is now also prominently featured on Tesla’s promotional images for their hyped Optimus robot, it’s bound to garner increased interest for the listing.

The property has been on the market since March 2024 and has seen a couple of price adjustments since first listing, with the most recent one bringing the asking price down to the current $6,850,000 (previously $6,998,000, per public records).

More stories

This $30M modern Brentwood mansion is the Michael Jordan of homes

$12M dome-shaped home in Brentwood is a “love letter to geometry”

A midcentury masterpiece: Richard Neutra-designed Adler House in Crestwood Hills lists for $2.9M

Source: fancypantshomes.com

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Categories

Real Estate

October 18, 2024
by Mark Ferguson

As a real estate investor who has bought and sold numerous properties over the years, one of the most common questions I encounter is whether it’s better to sell a property vacant or with tenants in place. The answer isn’t always straightforward and depends on various factors, including property type, market conditions, and target buyers. Let’s break down the pros and cons for different property types.

Table of Contents

Video: Is it Better to Sell Houses or Investment Properties Vacant or With Tenants?

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Single-Family Homes

Generally, single-family homes will sell for more money when vacant. Here’s why:

  • Owner-occupants typically pay more than investors because they’re buying a home, not just an investment
  • Owner-occupants make up the largest buyer pool for single-family homes
  • Properties can be properly prepared and staged when vacant
  • Repairs and updates are easier to complete without tenants

For example, I recently sold a single-family flip that could have rented for $2,000 monthly ($24,000 annually). Using a gross rent multiplier of 8%, an investor might have valued it around $300,000. However, we sold it vacant to an owner-occupant for over $400,000.

Exception: Low-Value Markets

In markets with very low property values but decent rental rates, it might make more sense to sell with tenants. This is common with turnkey rental operations, where properties are sold to out-of-state investors with tenants and property management already in place.

Multi-Family Properties

Duplexes

For duplexes, having at least one unit rented often makes sense because:

  • It appeals to house hackers who want to live in one unit and rent the other
  • Rental income helps buyers qualify for financing
  • Shows proven rental income potential

However, ensure units are rented at market rate. Below-market rents can actually decrease property value.

Larger Multi-Family (5+ Units)

For properties with five or more units:

  • Almost always better to sell fully occupied
  • Aim for market-rate rents
  • Maintain good payment history from tenants
  • Keep detailed income and expense records
  • Properties are valued based on income approach
  • Owner-occupant financing isn’t available, so investor buyers dominate

Commercial Properties

Small Commercial

Small commercial properties can go either way:

  • Vacant might appeal to owner-occupant businesses
  • Could potentially get higher prices from owner-users than investors
  • Market conditions and timing play crucial roles

Large Multi-Tenant Commercial

For larger commercial properties with multiple units:

  • Generally better sold with tenants in place
  • Investors typically prefer stabilized income
  • Having a few vacant units is okay for showing upside potential
  • Detailed rent rolls and financial statements are crucial

Single-Tenant Large Commercial

These can be challenging:

  • Harder to sell vacant due to specialized uses
  • Consider splitting into smaller units if vacant
  • Triple net leases with strong tenants add significant value
  • Property value closely tied to tenant quality and lease terms

Special Considerations

Mixed-Use Properties

For mixed-use properties:

  • Usually better occupied, especially if tenants are strong
  • Consider separating business operations from real estate
  • Can sometimes work with partial vacancy
  • Value based on both current income and potential use

College Rentals

Timing is crucial:

  • Best to sell either fully rented during school year
  • Or vacant right before rental season
  • Avoid having vacancy during off-peak rental periods

Conclusion

While each property is unique, here are the general rules of thumb:

  • Single-family homes: Usually better vacant
  • Multi-family: Usually better occupied
  • Commercial: Depends on size and type
  • Always consider market conditions and timing
  • Ensure rents are at market rate if selling occupied
  • Maintain good financial records for occupied properties

Remember that these are guidelines, not absolute rules. Market conditions, property condition, and timing can all impact whether vacant or occupied is the better choice for your specific situation.

Source: investfourmore.com

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When you’re facing $100,000 in student loan debt, you may wonder if you’ll ever be able to pay it all off. To make it even more daunting, you’re probably facing tens of thousands of dollars in interest charges.

Fortunately, there are a number of strategies to make your payments manageable and more affordable. Learn how to pay off 100K in student loans and find the repayment option that’s best for you.

Understanding Your $100,000 Student Loan Debt

According to the Education Data Initiative, 8% of borrowers owe more than $100,000 in student loan debt. As the interest continues to build on the loan, you’ll owe even more than $100,000 over time. That’s what makes living with student loan debt so challenging.

For example, if you have a $100,000 loan balance with a 7% interest rate and a 10-year repayment term, you’ll owe $39,330 in interest payments over the life of the loan. So your $100,000 loan becomes $139,330, with monthly payments of $1,161.

The longer you take to pay off your $100,000 in student loans, the more you’ll pay. But of course, your payments also need to fit into your budget each month, along with your rent, utilities, and other necessities.

Breaking Down Federal and Private Loans

There are key differences between federal and private student loans that can affect how you repay what you owe. Federal student loans come from the Department of Education, while private student loans are offered by private institutions like banks, credit unions, and online lenders.

Federal student loans have fixed interest rates, flexible repayment options, and federal protections and programs such as income-driven repayment plans and loan forgiveness.

Private student loans are often used to help fill the gap that federal loans, scholarships, and other financial aid doesn’t cover. These loans may have fixed or variable interest rates, and they often require a cosigner. Private student loans don’t offer the same flexible repayment options or federal programs that federal student loans do.

Check to see what kinds of loans you have. You may have federal student loans only or a combination of federal and private student loans. Knowing exactly what your loans are will help you determine the best way to tackle your debt.

Recommended: Student Loan Debt Guide

Calculating Interest and Total Repayment Costs

Once you’ve identified the kinds of student loans you have, calculate how much your total repayment cost, including interest, will be based on the loan term of your current repayment plan. With federal student loans, unless you pick another plan, you will automatically be placed on the 10-year Standard Plan.

You can check with your student loan service provider to get your total student loan costs. You can also use a student loan calculator or calculate it yourself.

To determine how much the monthly simple interest on your loan will be, you first need to calculate the daily interest on the loan. To do this, divide the loan’s interest rate by 365 and multiply that number by the principal amount. Then multiply the resulting number by the number of days in your billing cycle.

On a $100,000 loan with an interest rate of 6.00% and a repayment term of 10 years, your monthly payment would be $1,110.21, and $276.88 of that would be interest.

That adds up to $33,224.60 in interest over the life of the loan, giving you a total loan repayment cost of $133,224.60.

Creating a Budget and Repayment Plan

To start paying off $100,000 in student loans, it helps to create a budget. You might consider using a popular budgeting technique such as the 50/30/20 rule, which allocates 50% of your income toward needs (housing, utilities, bills), 30% toward wants (nonessential items like dining out and entertainment), and 20% toward savings and investments. You may decide to forgo a big chunk of the wants and direct that extra money into paying off your student loans.

Once you’ve set up a budget, evaluate your loan repayment options. The Standard Plan with its 10-year repayment term might not be the best choice for you, especially if the monthly payments are too steep. Instead, you may want to consider income-driven repayment (IDR) plans. These plans are designed for borrowers who have a high debt relative to their income.

With income-driven repayment, your monthly payment amount is based on your income and family size. Your loan term will be approximately twice as long as on the Standard Plan. However, the longer loan term means you will pay more interest over time.

Exploring Loan Consolidation and Refinancing

Student loan consolidation and refinancing are two other possible options to help manage student loan debt.

Consolidating Federal Student Loans

When you have multiple federal student loans, you can consolidate them into a new federal Direct Consolidation Loan. With this loan, you can choose more flexible loan terms, like a longer time to repay the loan. You’ll also simplify your payments. Instead of making several different loan payments, with consolidation you make just one payment.

Refinancing with Private Lenders

When you refinance your student loans, you replace your current loans with a new loan from a private lender. Ideally, you might be able to qualify for better rates and terms.

It’s possible to refinance private student loans, federal student loans, or a combination of both types. However, if you refinance your federal student loans into private loans, you’ll lose access to the federal programs and protections those loans offer, such as deferment, forbearance, forgiveness, and income-driven repayment plans.

Recommended: Private Student Loans Guide

Weighing the Pros and Cons

There are benefits and drawbacks to refinancing and consolidating your student loans. Here are the pros and cons of each option.

Pros of federal student loan consolidation:

•   Simplified payments.You’ll have a single monthly loan payment, rather than multiple payments.

•   Lower monthly payment. You might be able to get a lower monthly payment, but that means you’ll make more payments over a longer term.

•   Longer loan term. Consolidation gives you the flexibility to choose a lengthier loan term.

Cons of federal student loan consolidation:

•   Consolidation may result in more payments and interest over time if you extend your loan term.

•   With consolidation you might lose certain benefits such as interest rate discounts, principal rebates, and loan cancellation benefits.

•   A longer loan term could mean you’ll be making payments for years longer than your original term.

•   Consolidating your loans might cause you to lose credit for payments made toward income-driven repayment plan forgiveness.

Refinancing student loans also has advantages and disadvantages.

Pros of student loan refinancing:

•   You may get a lower interest rate. If you qualify for a lower interest rate, you could save money. A student loan refinancing calculator can help you determine what you might save.

•   You might qualify for better terms. You may be able to extend the length of your loan, which could lower your monthly payment.

•   Simplified payments. With refinancing, you only have one payment each month, rather than multiple loan payments.

Cons of student loan refinancing:

•   You’ll lose federal protections and programs. When you refinance your student loans with a private lender, you lose all federal benefits and protections, including deferment and forbearance.

•   No access to income-driven repayment plans. IDR plans are another thing you give up with refinancing.

Utilizing Repayment Assistance Programs

Loan repayment assistance programs (LRAPs) are another resource that could help you manage your student debt. States, employers, and other organizations may offer these programs that can help you repay your student loans.

Do some research to find out if there are any LRAPs you might qualify for — for instance, some are offered to college grads that work in public service fields — and check with your employer to find out if they offer such a program.

Strategies for Accelerating Loan Repayment

There are several different strategies for repaying your student loans faster, which could help you save money over the long term. Here are some options to consider.

•   Start paying off your loans sooner. If possible, make student loan payments while you’re still in school or during the six-month grace period after graduation. If you can’t afford to make full payments, pay off enough to cover the interest each month and keep it from accruing.

•   Sign up for automatic payments. Making your loan payments automatic will ensure that they’re made on time, and prevent any late penalty charges. Plus, you may get an interest rate deduction for enrolling in an automatic payment program.

•   Pay a little extra each month. Paying more than the minimum on your loan can help you pay off the loan faster. It can also reduce the amount of interest you’ll pay.

•   Put any extra money toward your loans. Use a windfall, a tax refund, or birthday money from family members to help pay off your student loan.

•   Consider student loan refinancing. With refinancing you may be able to qualify for a lower interest rate or a shorter loan term.

The Takeaway

A student loan debt of $100,000 might seem daunting, but there are ways to repay your loans that might also save you money or allow you to pay off your loans faster. Options include income-driven repayment plans, putting additional money toward your loan payments each month, loan consolidation, or student loan refinancing. Weigh the pros and cons of the different options to decide which one is best for you.

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

How long will it take to pay off 100K in student loans?

The length of time it will take to pay off $100K in student loans depends on a variety of factors, including the repayment plan you choose and whether or not you regularly make extra payments toward your student loans each month. For instance, if you’re on the Standard Repayment plan for federal student loans and you don’t make additional payments on your loans, it will typically take you 10 years to pay off your loans. If you opt for an income-driven repayment plan, your loan repayment term will generally be 20 years or longer.

Can I settle student loan debt for less than I owe?

It’s difficult to settle student loan debt for less than you owe. However, if you find yourself in very dire circumstances and your loans are in default, you may be able to get a student loan settlement. That means you pay off your student loans for less than you owe typically in one lump sum, depending on the settlement terms. Your lender must be willing to work with you in order to qualify for a student loan settlement. Check with your loan servicer for more information.

What happens if I can’t make my student loan payments?

If you can’t make your student loan payments, reach out to your lender or loan servicer right away to let them know you’re struggling. They will explain the options you have, which might include income-driven repayment plans, forbearance, or deferment. It’s important to reach out to the lender or loan servicer immediately because if you miss payments, they may report the missed payments to the credit reporting agencies, which can hurt your credit.

Photo credit: iStock/damircudic

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

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.

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.

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.

SOSLR-Q324-005

Source: sofi.com

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Looking for the best online customer service jobs? If you’re searching for a way to make money from your laptop or are tired of commuting, then an online customer service role might be the perfect fit for you. Online customer service jobs are typically entry-level opportunities that can be done from home. These jobs are…

Looking for the best online customer service jobs?

If you’re searching for a way to make money from your laptop or are tired of commuting, then an online customer service role might be the perfect fit for you.

Online customer service jobs are typically entry-level opportunities that can be done from home.

These jobs are great for anyone, even with no experience. I’ve personally seen how these roles can provide a good income, all while giving you the freedom to create your own schedule.

In this article, I’ll guide you through the best online customer service jobs available, what they pay, and how to get started—even if you’re completely new to the field.

12 Online Customer Service Jobs

Below is a list of the best online customer service jobs to make money.

The below are mainly large companies that are hiring, but another option would be to become a virtual assistant and work for a small company. Many smaller companies use virtual assistants to get the tasks done that they need, such as customer service. You can learn more about this at Best Ways To Find Virtual Assistant Jobs.

1. Amazon

Amazon is always hiring remote customer service associates to support its massive customer base.

To find jobs on Amazon as an online customer support specialist, visit Amazon’s career website here. In the search bar, type “customer service” and select remote or virtual as your location. This makes sure that the jobs that come up are 100% remote.

From there, you can also choose filters like part-time or full-time. You select the country you’re eligible to work in, as Amazon has job postings all around the world. You’ll want to look for jobs with titles like “Customer Service Associate,” “Customer Support Specialist,” or “Virtual Customer Care Representative”.

Amazon also has seasonal positions, so if you’re looking for a temporary role to bring in extra money during the holidays, this is a great option.

There are many benefits to working for Amazon, including stock options, career development course funding, employee discounts, and more.

Recommended reading: How To Find A Remote Job

2. Apple

Apple also has job listings for remote customer support jobs.

To find customer support jobs at Apple, go to their official careers page here. You can also choose filters like “home office,” so you only see remote job listings. Besides the Apple careers page, you can also find jobs at Apple on sites like Indeed and LinkedIn. Search for keywords like “Apple Customer Service” or “Apple At-Home Advisor”. 

You can also set up job alerts for Apple’s customer support jobs so you get email alerts any time a job related to customer service is posted.

There are many benefits to working for Apple, including generous time off, discounts on Apple products, stock options, and education reimbursement for courses.

3. American Express

American Express also has remote customer support jobs. To find these jobs, visit the American Express career page. This is where you can search for jobs by keyword and location.

You can type in keywords like “Customer Service” or “Customer Support” and use the location filter to choose “virtual” or “remote” jobs.

American Express has remote customer service jobs, usually called “Virtual Customer Care Professionals.” You can look for these jobs on sites like Indeed and LinkedIn as well. American Express is frequently hiring customer support specialists, so keep checking for job listings or set up email alerts.

There are many benefits to working for American Express, including health insurance, travel discounts, stock, and more.

4. Progressive

Progressive Insurance has Customer Support job openings on their website here.

To find Progressive customer support roles that are remote, use the keyword “remote” when searching for jobs. As of this writing, I found job openings for remote Claims Adjusters paying $24/hour. I think it’s important to regularly check for job updates on Progressive’s website as they are constantly adding new jobs.

You can also search for Progressive customer support roles on Indeed and LinkedIn. Indeed even lets you set up email alerts whenever new Progressive customer support roles show up.

There are many benefits to working for Progressive, including good starting pay, eligibility for bonuses, extra pay for working evenings or weekends, PTO, and more.

5. Yelp

Yelp has common customer support roles such as Customer Support Specialists and Content Moderation specialists.

To look at job openings for Yelp, check out their career page here. This is where you’ll find all of Yelp’s job openings, including tasks, qualifications, and benefits.

You can also engage with Yelp employees on LinkedIn to see what the job is like and get any insights on the hiring process.

There are many benefits to working for Yelp, including insurance, PTO, mental health services, monthly wellness subsidies, work-from-home reimbursement, and more.

6. AAA

I had a harder time finding remote roles for AAA, but I did find people saying they hire for remote customer support roles, they just can be harder to come by.

In-person customer support roles for AAA seem to be more common, but to find online jobs for AAA, check out their career page here.

There are many benefits to working for AAA, including tuition reimbursement, comprehensive health insurance, and wellness programs.

7. CVS Health

CVS Health has many remote customer support roles, with pay starting at $18 an hour and going up to $28 an hour, depending on experience.

To find CVS Health customer support roles, go to their careers page and filter the search for remote customer support jobs.

There are many benefits to working for CVS Health, including 401(k) with matching, employee discounts, wellness programs, and stock options.

8. Sutherland

You may not have heard of Sutherland before. Sutherland is a digital transformation company specializing in making digital processes feel more human to customers.

Sutherland often has remote customer support roles open. To find Sutherland customer support roles, go to their careers page and search for remote.

There are many benefits to working for Sutherland, including advancement opportunities, competitive pay, comprehensive health benefits, and more.

9. Chewy

If you love animals, you may love working for Chewy as a customer support specialist.

To find jobs at Chewy, go to their customer service careers page here. This is where you’ll find all of the job openings, qualifications needed, benefits, and more. I found it interesting that they have a page specifically for customer service careers, which suggests they are actively hiring in this area!

The starting wage for these jobs is $15.50 an hour, with room to grow.

There are many benefits to working for Chewy, including comprehensive insurance, competitive pay, 401(k), and more.

10. Concentrix

Concentrix is a global business company specializing in CEM, also known as customer experience management. They help businesses improve their operations and enhance customer interactions.

Concentrix has many open job listings for customer support roles, which you can find here.

There are many benefits to working for Concentrix, including paid training, bonus opportunities, insurance, wellness programs, and more. They even have mentorship programs to help you grow in your career and other unique benefits. 

11. Alorica

Alorica is a global customer experience and business process outsourcing company. They help businesses improve their customer interactions, similar to Concentrix, which I mentioned above. 

To find Alorica customer support job listings, visit their careers page here. Their customer support roles usually start at $16 an hour.

There are many benefits to working for Alorica, including employee discount programs, paid training and tuition reimbursement, and more.

12. TTEC

TTEC is similar to Alorica and Concentrix and is often hiring customer support specialists.

To find jobs at TTEC, go to their careers page here and search for customer service representative jobs. 

There are many benefits to working for TTEC, including working remotely full-time, PTO, wellness and healthcare benefits, and more. 

Frequently Asked Questions

Below are the most common questions about online customer service jobs.

How much do work-from-home customer service jobs pay?

Work-from-home customer service jobs typically have a starting wage of around $15 an hour, with more experienced customer support specialists earning over $25 an hour. 

What are the highest-paying jobs in customer service? 

The highest-paying jobs in customer service include jobs at Progressive and CVS Health. Technical support is related to customer support and typically pays a little bit more than customer service specialist jobs.

Can customer service be online? 

Customer service jobs are almost always online since you can do this work from your laptop via chat, email, or video conferencing. So, this can be a great work-from-home job choice!

What does an online customer service representative do?

An online customer service representative is in charge of many tasks and may include:

  • Supporting customers through live chat, email, and social media
  • Addressing customer inquiries, resolving issues
  • Handling customer complaints
  • Handling processing, managing returns or exchanges

You can find job listings for customer service agents in nearly all industries around the globe, such as retail, travel, finance, and more.

Are there Amazon customer service jobs?

Amazon has many customer service jobs that are both in-house and remote. These roles typically involve helping customers with returns and inquiries, troubleshooting issues, and providing support related to Amazon’s products and services. 

How can I find online customer service jobs from home with no experience?

To find online customer service jobs, visit job boards like Indeed or FlexJobs. Look for jobs with keywords like “customer service” and “customer support.” Make sure to choose your location as “remote,” so you only see remote job openings. 

Best Online Customer Service Jobs – Summary

I hope you enjoyed my article on the best places to find online customer service jobs.

Finding an online customer service job is relatively easy to do, even with no experience. This is a great way to work from home without having to go on a long commute to work.

Are you interested in starting an online customer service job?

Recommended reading:

Source: makingsenseofcents.com

Apache is functioning normally

Though mortgage interest rates rose this past week, the relatively small increase may be a sign things are settling down. After a surprisingly strong Oct. 4 jobs report drove rates rapidly upward, interest rates are beginning to normalize. In the week ending Oct. 17, the average 30-year fixed-rate mortgage rate rose six basis points, averaging 6.46%. A basis point is one one-hundredth of a percentage point.

Mortgage interest rates in the mid-sixes don’t feel great. The current average is about half a percentage point higher than it was a month ago. But remember also that today’s interest rates are more than three-quarters of a percentage point lower than the highs we saw back in spring.

So here’s the $415,000 question — since that’s roughly the median sales price for an existing home, according to data from the National Association of Realtors. Where are mortgage interest rates headed?

Explore mortgages today and get started on your homeownership goals

Get personalized rates. Your lender matches are just a few questions away.

Won’t affect your credit score

Regular folks think rates will fall

Consumers are feeling darn good about where mortgage interest rates are headed. In September, the Fannie Mae Home Purchase Sentiment Index saw record levels of optimism, with 42% of consumers expecting mortgage interest rates to decline over the next 12 months.

As noted above, mortgage rates have fallen over the past six months or so. But especially for folks who aren’t rate watchers, widespread anticipation of Federal Reserve action was likely spreading the positive vibes. In September, after holding steady for more than a year, the Fed dropped its federal funds rate — the one interest rate the central bankers actually control — by 50 basis points.

The Fed finally moving into a rate-cutting cycle may have shifted consumer perceptions more than mortgage rates falling on their own. A NerdWallet survey conducted by the Harris Poll in July — when mortgage rates were already falling — found that 15% of Americans planned to purchase a home once rates go down. Coupled with likely future Fed cuts, that rate positivity could turn more homebuying hopefuls into serious shoppers.

Explore mortgages today and get started on your homeownership goals

Get personalized rates. Your lender matches are just a few questions away.

Won’t affect your credit score

Housing economists temper expectations

While consumer surveys don’t get into specifics, housing economists most certainly do. And while there’s a broad consensus that mortgage interest rates will trend lower throughout the next year, these are not drop-everything-and-start-house-hunting numbers.

Government-sponsored enterprise Fannie Mae, which supports the housing market by purchasing and securitizing home loans, updates its interest rate predictions monthly. As of September, Fannie Mae anticipates 30-year fixed interest rates to end this year at 6.2%. Its overall 2025 forecast currently calls for the gentlest slope, with rates falling from 6% in the first quarter to 5.7% in the fourth quarter of 2025.

Another monthly forecast comes from real estate finance industry group the Mortgage Bankers Association. The MBA’s September forecast is nearly identical to Fannie Mae’s, with rates ending 2024 at 6.2%. But the MBA predicts even less of a drop next year, with rates ending 2025 at 5.8%.

The National Association of Realtors, which is the country’s largest trade association, updates its rates forecast less frequently. But in fresh numbers from the beginning of October, NAR expects a similar trend: Rates would close this year at 6.1% and wrap up 2025 at 5.8%.

Overall, there’s consensus among both consumers and industry economists that mortgage interest rates are headed down. But a decline of roughly 10 basis points per quarter (just a tenth of a percentage point) is probably not what regular people are thinking when they say they’re expecting rates to fall. Remember, though, that even the most well-informed expert predictions are just that — predictions. We’ll all have to wait and see what actually happens.

Source: nerdwallet.com

Apache is functioning normally

All college students are required to declare a major, but what about a minor? This is a question many students find themselves asking halfway through their college curriculum.

Knowing about what a minor is, what it entails, and if it’s something that can bolster your career can help determine if it’s really right for you.

Keep reading to learn more about what a college minor is, how it differs from a major, and the pros and cons that come with it.

Defining a College Minor

A college minor, sometimes referred to as a “mini major,” is a group of courses you take in a certain discipline. Minors in college can complement your chosen college major or be totally unrelated.

While most colleges don’t require a student to declare a minor, some do. Schools may have a definitive criteria about your choice of minor. For instance, you may not be able to pursue a minor in the same department as your major.

For the most part a college minor is voluntary, and a student may not feel it’s important enough to take on the additional coursework in addition to their main area of study. Instead, they may want to have complete freedom to use those class credits for electives that may not be as labor intensive.

Differences Between a Major and Minor

Your major is the main area of specialty that determines the type of bachelor’s degree you’ll earn. It’s the field of study you’ve chosen based on your professional aspirations. One way to think of it is that your major is your primary job and your minor is more of a side gig.

When you’re finally awarded your college diploma, it will be for your major, not your minor. That’s because a college minor is typically considered optional and not a requirement for your core curriculum. Even if your school is one that does require you to choose a minor, it won’t be reflected on your degree unless your school is one with an exception to that rule. However, it will most likely be included in your college transcript.

Another key distinction between a college major and a minor is the amount of coursework you have to complete and how much it counts toward your final credits. Depending on your school, a major will make up one-third to one-half of the school’s credits needed to graduate, which is typically 120 credits for a four-year program.

In general, a college major will require you to complete at least 10 courses compared to five to seven classes for a minor. A minor typically requires anywhere between 16 and 30 credits.

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Benefits of Pursuing a College Minor

There are many upsides to tacking on a college minor. If you’re wondering whether or not it’s worth pursuing, consider these pros:

Explore Complementary Interests

A college minor related to your major allows you to expand your expertise in that related field. For instance, if you’re a biology major and decide to minor in chemistry, you’re already familiar with the basics of science and look at things from a scientific perspective. There are similar analytical skills you can apply.

But even if your minor is in a different area, there are still ways it can positively impact your major. An example is if you’re majoring in political science, you may want to minor in public speaking, which can be helpful if you have any ambitions to run for elected office.

You may even find your minor is more exciting and decide to change your major to that area of interest, or decide to combine the two disciplines and pursue a double major.

However, before making any big changes, it’s a good idea to talk to your academic advisor. Depending on when you decide to do a change-up, it could add extra time toward getting your degree. This can translate into additional costs and more student debt.

Develop Secondary Skill Sets

Regardless of whether your minor directly corresponds to your major, you’re acquiring and polishing both hard and soft skills. Those more technical hard skills can be directly applied to the type of work your career requires. Soft skills, on the other hand, are more of a social and interpersonal nature. Both are important to employers and offer skills they want their prospective employees to have under their belt.

Enhance Marketability and Job Prospects

Homing in on a subject offers you the opportunity to develop more of an in-depth knowledge and expertise. A minor shows your well-roundedness, flexibility, and the ability to wear other hats. For example, a marketing major who minored in communications can be an asset in the areas of advertising, journalism, and public relations.

A complementary minor can also give you a more solid base and deeper understanding of some issues you may deal with in your occupation. If a nursing major chooses to minor in psychology, it can help them better understand patient behavior.

Overall, a minor shows a level of seriousness and willingness to challenge oneself. These are qualities that can go a long way and put you at an advantage when applying for your first job out of school, graduate school, or even for a college internship.

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Popular College Minor Options

There are certain college minors that attract more students than others. Here are some popular ones:

STEM Minors

STEM, which stands for science, technology, engineering, and math, consists of natural, physical, and life sciences; computers; electronics and other types of tech; all kinds of engineering; mathematics; and areas that rely on the principles of math. Examples of STEM minors include computer science, kinesiology or exercise science, civil engineering, and statistics.

Deciding on a STEM subject for your minor can give you a leg up in the job market. According to the U.S. Bureau of Labor Statistics, job opportunities in the STEM field are expected to grow 7% by 2032, compared to 2% for all occupations.

Business Minors

With a business minor, you can take classes in accounting, marketing, human resources, and e-commerce. Choosing business as a minor allows you to learn the fundamentals of business, which can be extremely valuable and practical out in the real world.

Knowing more about how business is conducted and becoming more savvy about finance benefits you both professionally and personally. Career-wise, it can come in handy if you’re applying for a job that may require a deeper understanding of certain business practices. In your own life, you may even get a better handle on your own financial situation when it comes to managing private student loans and staying on top of how to pay for college.

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Liberal Arts Minors

Liberal arts is a field with a broad range of disciplines, including creative arts, social sciences, humanities, and more. People who decide to minor in liberal arts may choose sub-studies in English, psychology, sociology, anthropology, philosophy, or communication.

For someone with a very demanding major, a liberal arts minor can offer a less taxing curriculum. Instead of being geared toward technical skills, liberal arts classes give students an opportunity to focus on critical thinking, collaboration, creativity, and verbal and written communication skills.

Language and Cultural Minors

Minors specializing in different aspects of cultural heritage and language can expose a student to different world views, beliefs, and practices.

A foreign language minor allows you the ability to become bilingual or multilingual, which is a huge asset in the workforce where there’s an increasing demand for people who speak other languages. You may want to expand on your high school language classes or minor in a completely new one.

A language minor may also be one in linguistics, which is the study of language structure, including phonetics, syntax, semantics, and the history of how language has changed over time. Students may also find there’s an option at their college to minor in American Sign Language.

Cultural studies minors are designed to study all types of cultures, their histories, and perspectives. These can include groups based on class, gender, ethnicity, race, religion, and geographical location. Classes in popular culture, women’s studies, world religions, and African-American or Asian studies are some examples of cultural studies minors.

Choosing a Complementary College Minor

Picking a minor in general adds extra knowledge and allows you to build more expertise in another subject. Minoring in a complementary course of study, however, shows you’re serious about exploring an area that closely aligns with your major.

Regardless of whether your minor directly corresponds to your major, you’ve decided to use a portion of your credits toward another group of required classes, and that indicates a commendable level of focus and commitment.

Potential Drawbacks of a College Minor

There are some cons that can come with declaring a minor. For one, a minor can take up a lot of time, so you’ll want to make sure it’s an area you’re genuinely curious about and have a real interest in. Consider the amount of work you’ll have to do, such as writing papers, studying, and taking exams. These additional classes could end up adding unnecessary stress to your major’s workload.

A minor could also end up costing you more money, especially if you declare a minor late in the game. You may not be able to get all the necessary classes before graduation, which means you may have to extend your education by a semester or more.

The Takeaway

A minor is, in most cases, an optional supplementary course of study that can broaden your knowledge, expand your skill set, and open up more career options after graduation. Having a college minor can also make your undergrad studies a lot more fun, especially if it’s a topic where you have a strong personal interest.

Ways to finance your minor include cash savings, scholarships, grants, and both federal and private student loans.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

What’s the difference between a minor and concentration?

A minor can be a secondary course of study in any area, while a concentration is a sub-group of structured classes that directly relate to your major. For example, if you’re an English major, your concentration may be in creative writing, made up of poetry, fiction, nonfiction prose, and dramatic writing classes.

Do minors appear on your diploma or transcript?

Minors will appear on your transcript, but the mass majority of colleges and universities don’t include it on your diploma. The standard practice is to list only the student’s major on their bachelor’s degree.

How late in your college career can you add a minor?

Most colleges ask students to choose their major by the end of sophomore year or beginning of their junior year, which can also be an ideal time to choose a minor. You could declare it before you start your senior year, but it’s important to consider the fact you’ll have to cram all of that minor’s classes into one year’s time. This could impact your graduation date if you need to carry your studies over to another semester in order to fulfill your minor’s requirements.

Do minors impact financial aid eligibility?

It depends. Federal financial aid rules mandate only courses required for your major and degree program are eligible. However, classes required for a minor may be eligible for financial aid if they also satisfy major, core, or elective requirements for your degree. Otherwise, financial aid will be reconfigured or removed to reflect eligibility based on qualifying courses.

Photo credit: iStock/Drazen Zigic

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Source: sofi.com