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Inside: Find out what a good salary for a single person is. Plus how much you need to afford your lifestyle and reach your ambitions.

This question has been popping up more and more lately. People are starting to wonder about their income and whether or not they’re getting paid enough.

Some people might think that their salaries are too low, while others may be wondering if they can afford these new bills piling upon them? Everyone knows someone who isn’t making what they should be, but no one really wants to talk about it out loud. This causes a sense of tension, that’s when success can make or break your career.

This is why it’s important to talk about salaries and be aware of what others are making in the industry. It might not provide the answer you’re looking for, but at least you’ll know where everyone else falls so that you can set yourself up for future success!

Believe it or not, the amount of money you make is a very personal decision.

There are many factors to take into account when deciding how much you should be earning and what your career will be like, including your age and experience.

This guide will break down the steps you should take to find out what salary is right for you in today’s society.

What is considered livable salary?

A living salary is one that covers all or most of the expenses.

Your salary should be a number that ensures you meet all of your bills and hopefully have money left over to save.

For many people, there is always a conflict between what income can meet the expenses and that salary may not be enough to conduct your life.

What is a livable salary for a single person?

A livable salary for a single person is the amount of money an individual needs in order to support themselves. This amount differs based on a number of factors, including location and an individual’s age.

There is no easy answer when it comes to determining a livable salary for a single person.

One of the biggest variables depends on the cost of living in your area and whether you share housing costs with roommates.

Other variables include the cost of food, transportation, healthcare, and entertainment in that area. We will break down the livable salary by each state shortly.

What is the average salary for a single person in today’s society?

In general, though, a single person should expect to make at least $30,000-$40,000 per year in order to cover all of their basic expenses. That is considered a decent salary for a single person.

Most college graduates should expect to make at least the average salary starting out.

You need to make at least $15 an hour to meet the minimum average salary for a single person.

Learn how to calculate your annual income.

How Much Does a Single Person Need to Live by State?

To be realistic, this amount varies greatly by state!!

Especially with the number of workers moving remote, there are opportunities to increase your income by moving to a lower cost of living state. However, many employers are updating their figures to adjust accordingly.

So, how much do you need to live by your state (according to the Living Wage Calculator):

  • Alabama: $13.77 an hour or $28,642 per year
  • Alaska: $15.06 an hour or $31,325 per year
  • Arizona: 14.94 an hour or $31,075 per year
  • Arkansas: $13.29 an hour or $27,643 per year
  • California: $18.66 an hour or $38,813 per year
  • Colorado: $16.35 per hour or $34,008 per year
  • Connecticut: $15.98 per hour or $33,238 per year
  • Delaware: $15.32 per hour or $31,865 per year
  • District of Columbia: $20.12 an hour or $41,850 per year
  • Florida: $14.82 an hour or $30,826 per year
  • Georgia: $15.36 an hour or $31,949 per year
  • Hawaii: $19.43 per hour or $40,414 per year
  • Idaho: $13.95 an hour or $29,016 per year
  • Illinois: $15.37 an hour or $31,970 per year
  • Indiana: $13.44 an hour or $27,955 per year
  • Iowa: $13.62 an hour or $28,330 per year
  • Kansas: $13.51 an hour or $28,101 per year
  • Kentucky: $13.48 an hour or $28,038 per year
  • Louisiana: $14.06 an hour or $29,245 per year
  • Maine: $14.92 an hour or $31,034 per year
  • Maryland: $17.25 per hour or $35,880 per year
  • Massachusetts: $17.74 per hour or $36,899 per year
  • Michigan: $13.63 per hour or $28,350 per year
  • Minnesota: $14.90 per hour or $30,880 per year
  • Mississippi: $13.43 per hour or $27,934 per year
  • Missouri: $13.72 per hour or $28,537 per year
  • Montana: $13.94 per hour or $28,995 per year
  • Nebraska: $13.57 per hour or $28,225 per year

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

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  • Nevada: $13.67 per hour or $28,443 per year
  • New Hampshire: $14.47 per hour or $30,097 per year
  • New Jersey: $16.20 per hour or $33,696 per year
  • New Mexico: $13.97 per hour or $29,057 per year
  • New York: $18.62 per hour or $38,729 per year
  • North Carolina: $14.72 per hour or $30.617 per year
  • North Dakota: $13.08 per hour or $27,206 per year
  • Ohio: $13.16 per hour or $27,373 per year
  • Oklahoma: $13.53 per hour or $28,142 per year
  • Oregon: $16.85 per hour or $35,048 per year
  • Pennsylvania: $13.39 per hour or $27,851 per year
  • Rhode Island: $14.79 per hour or $30,763 per year
  • South Carolina: $14.58 per hour or $30,326 per year
  • South Dakota: $12.61 per hour or $26,299 per year
  • Tennessee: $13.25 per hour or $27.560 per year
  • Texas: $14.01 per hour or $29,140 per year
  • Utah: $14.52 per hour or $30,201 per year
  • Vermont: $14.93 per hour or $31,054 per year
  • Virginia: $16.61 per hour or $34,549 per year
  • Washington: $16.34 per hour or $33,987 per year
  • West Virginia: $13.38 per hour or $27,830 per year
  • Wisconsin: $14.02 per hour or $29,162 per year
  • Wyoming: $?13.19 per hour or $27,435 per year

Honestly, with the recent inflation reports, I truly believe it would be difficult for most of these salaries to be livable wages. But, reports like this, take time to be produced and lag what is truly happening in the world.

The US average cost of living single person will vary greatly depending on HCOL vs LCOL areas.

What is a good salary for a single person?

A good salary to live on is the amount of money you need in order to maintain a comfortable living.

The salary you need to live on depends on many factors, such as where you live and how much money you want to spend. The average annual salary in the US is $60,000. This figure takes into account all income sources including full-time employment, part-time employment, self-employment, investments, and other forms of income.

So, if you are single making over the median US salary of $60000, then you are in a better financial picture than most.

Honestly, I think most people would agree that livable wages are very difficult for many people to sustain a comfortable living for a long period of time. How would you feel making $13 an hour and barely scraping by?

Thus, what is considered a good salary for a single person depends on your education, training, and industry.

Good Salary for a Single Person by Age

Another factor to consider is your stage of life.

When you are just starting out in the workforce, you are at the early bell curve of your potential earnings. On the flip side, if you have been in your career for 10 or more years, you deserve to receive higher pay.

So, what salary should I be making at my age?

These numbers are heavily weighted by your education, training, and industry. These are the median earnings (source):

  • Just Starting Out (age 16-24): $646 weekly or $33,592 annually
  • Early Career (In your mid-20s – age 34): $960 weekly or $49,920 annually
  • Mid Career (In your mid-30s- age 44): $1127 weekly or $58,604 annually
  • Later Career (ages 45-64): $1149 weekly or $59,748 annually

One of the reasons a college education is heavily pushed is because all college graduates will make more than the median $60000 salary.

As you can see, that would put you above a good salary.

The best way to calculate how much you need is by using a cost of living calculator.

What is considered low-income for a single person?

The official definition of low-income for a single person is $12,000 in annual income.

The Federal Poverty Level is an annual income level that determines what a family or individual’s income must be in order to qualify as living in poverty. The number of people considered “below the poverty line” is different for each family size.

Given the federal minimum wage is $7.25, the poverty wage for a single person will be above this threshold if you work more than 32 hours per week.

Honestly, how much is low income for a single person is when you are able to make ends meet. Then, you need to find ways to increase your income.

Is a 3 percent raise good?

A 3 percent raise on a $50,000 salary would mean that the employee would make $1,500 more per year. Will that actually make an impact on you?

Well, more than likely, your raise is keeping up with inflation.

On average, inflation runs between 1.5-2% a year (source). So, a 3 percent raise would give you a net salary increase of 1%.

However, in 2022, inflation skyrocketed to over 8%. Thus, a 3 percent raise means nothing and will not help your situation. Another way to put it, you are making 5% less than you did the year before since the costs of goods have increased dramatically.

The goal is to increase your hourly wage or salary each year. However, you are in a linchpin situation based on what your employer wants to do. That is why many employees change jobs every 3-5 years to receive a bigger raise in salary.

What is a Good Salary for Single Person to Retire Early?

For many people in the FIRE movement, it is more about making a certain amount of money, saving a huge percentage, and investing that money to pay for their future life.

Specifically, these people are looking for a certain amount of net worth. Typically, $500k to $1 million in investments.

First of all, that number is very dependent on a number of factors.

So, let’s run through an example…

  • Current age: 25 years old
  • Current expenses: $30000
  • Annual Income: $50000
  • Zero net worth

You could retire in 23 years at the age of 48 with approximately $750K in investments.

However, you want a shorter time frame of 10 years… Then, you need your salary to be over $90,000 to retire by age 35.

Overall, if you want to retire early, then the more you can earn and save today will help you on your path quicker.

Here is a helpful FIRE calculator to help you based on your circumstances.

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What is a good yearly salary for a single person?

Honestly, the answer will vary from person to person based on their upbringing, education, experience, and age.

If you are making above the median income of $60k salary as a single person, then you should be doing very well for yourself.

One of the things we stress here at Money Bliss is finding ways to have more than one stream of income. That way you are not forced into a financial pickle and have more opportunities.

Also, the salary expectations for a single person (those not in a relationship) have changed greatly over the past years. The expectation is that people can provide for themselves; yet, are getting priced out of the rental and home market due to skyrocketing costs.

Now, you have to decide what is a good yearly salary for you.

  • What are your dreams?
  • Your ambitions?
  • Your goals in life?

Answer those questions and you will know if your salary lines up.

If not, find ways to make more money.

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

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Homebuyer affordability decreased slightly in May, as new mortgages took up a larger share of a the average person’s income while rates trended higher. High inflation and rising mortgage rates won’t lessen the burden on new home buyers in the coming months.

The national median payment applied for by applicants rose to $1,897 last month from April’s $1,889, according to the Mortgage Bankers Association (MBA). The national median mortgage payment for conventional loans was $1,960, down slightly from April’s $1,967, but significantly higher than a year ago, when it was $1,394 in May 2021. Federal Housing Administration (FHA) loan payments rose to $1,430 in May from the previous month’s $1,374. 

“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led to a slowdown in purchase applications in May,” said Edward Seiler, MBA’s associate vice president for housing economics and executive director at the Research Institute for Housing America, according to a statement. 

“While the median principal and interest payment only increased $8 from April, a typical borrower is paying $514 more through the first five months of 2022 – a jump of 37.1%,” he said.

The average purchase mortgage rate rose to 5.27% in early May, according to Freddie Mac PMMS, a 13-year high until it surpassed the 6% level in June. 

Citing inflationary pressures and mortgage rates above 5%, Seiler said the MBA expects sales of new and existing homes to fall below 2021 levels. The agency expects some 5.76 million existing homes to sell in 2022, well below the previous year’s sale of 6.13 million existing homes. New home sales are forecast to remain slightly more stable, with the sale of 769,000 new houses projected, down from 771,000 new houses sold last year.

The purchase applications payment index (PAPI), which measures how new monthly mortgage payments vary relative to income, rose 0.4% to 163.4 in May from 162.8 in April. An increase in MBA’s PAPI, indicative of worsening borrower affordability conditions, means the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates, or a decrease in earnings. 

Black and white households’ homebuyer affordability dropped at the steepest rate at 0.7 points. The index for Black households rose to 166.6 and climbed to 164.3 for white households in May from April.

Borrowers in Idaho are facing the greatest affordability challenges with a PAPI index coming in at 253, followed by Nevada (249.7), Arizona (233.5) and Utah (210.9). 

Meanwhile, borrower affordability conditions were best in Washington D.C. (99.7), with Alaska (102.6), Connecticut (111.2) and West Virginia (113) trailing behind.

Source: housingwire.com

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Are you considering going back to grad school? Have you wondered if the graduate degree you’re looking at will give you a good return-on-investment (ROI)?

It’s important to consider the full cost of graduate school (and its potential impact on your career and earning potential) before you blow $1,000 on test prep, entrance exams, and application fees, and certainly before you send off a deposit and give notice at your job. Our graduate school ROI calculator (below) can give you a sense of what you stand to get (and give up) by going back to school.

What’s Ahead:

How to use the grad school ROI calculator

  • Enter your age.
  • Enter your current salary (so the calculator can include opportunity costs).
  • Enter the total cost of graduate school for one year. Add together the following to get a rough estimate:
    • Total tuition you’ll have to pay at the university of your choice, plus any fees. (This can usually be found on the university’s website.)
    • Your cost for books or other materials. (For an MFA in creative writing, this will be almost nothing; for a law degree, a year of books might set you back $1,800. Do a little searching to find a rough estimate.)
    • Living expenses. (If your plan is to stay in your current city in your current place, your own prior spending should be a rough guide. If your dream school is elsewhere, consider browsing apartment listings and roommate ads to get a sense of how much you’ll have to pay for rent. Then factor in utilities, transportation, food, and entertainment. Your current budget might be an okay place to start, but you should definitely cut costs once you’re in school and living on loans….as this calculator will make clear!)
  • Enter the length of your program (in years).
  • If you want to opt for the advanced settings, enter the amount of student loans you expect to take out, along with the interest rate and term of the loan. Otherwise, we’ll use 6% and 10 years as an average.
  • Enter your expected salary upon graduation. It pays to get specific here: Don’t just look for the average salary for your profession, but for the average salary of that profession in the region you intend to live in. Lawyers in New York make a lot more than lawyers in Tampa. Be sure to use a reasonable first-year salary, not what you hope to make after five or 10 years in the field.

Once you hit submit, we’ll calculate the following:

  • The total cost of graduate school, including opportunity costs, tuition and fees, and loan interest.
  • Your lifetime earnings at your current salary, as well as your lifetime earnings at your projected post-graduate school salary.

Take a look at the lifetime earnings. How big is the difference and is it worth the cost, risk, and effort it takes to go to graduate school.  Keep in mind that things change and nothing is guaranteed.

Also, if you continue to work while in school that reduces your overall costs as well. Perhaps you don’t need to borrow as much, and your opportunity costs will be lower. You’ll still be earning your previous salary while in school, or at least part of it.

Keep in mind that it isn’t always just about the numbers. If a higher degree gets you into a job you love, that’s worth a lot more than just money.

Summary

This calculator can do the math, but of course, you need to look at your whole life to make a decision like this. Continuing to work and live cheaply while in school will help keep costs down and reduce the overall negative impact of going back to school.

But also consider lifestyle, if you need a graduate degree to get your dream job the finances may not matter as much.

Source: moneyunder30.com

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This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

If you have been trading for a while, then there is a good chance that you have made some trading mistakes along the way.

Unfortunately, it is part of learning how to trade.

After all, trading is a skill that takes time to learn.

Trading mistakes are part of the learning process. I know that sucks to hear, but it is the truth.

The outcome goal is to learn from those trading mistakes.

Then, you can realize what you did wrong so you do not repeat those same mistakes.

However, more than not, it is more common to repeat the same mistake over and over again.

If you are ready to recognize trading errors and learn how to overcome them, then keep digging in. Take notes and adjust your trading plan accordingly.

We will cover emotional trading mistakes, technical trading errors, and option trading mistakes.

What Are Trading Mistakes?

Trading mistakes are errors made by traders when you enter trades, either to purchase stocks or options.

More than likely, you will see the same type of trading error happening over and over again.

Trading mistakes are very common, but they do not have to lead to complete panic.

In order to minimize the chances of making a costly mistake, traders should adhere to their trading strategy. Additionally, traders should always trade with a clear head and stay disciplined.

There are plenty of trading mistakes you can avoid by being smart and adjusting your trading plan where needed.

Why Understanding Trading Mistakes Is Important for Long-term Success

Trading mistakes are the result of traders taking losing trades, which can result in poor overall performance.

Mistakes that occur during trading often include not paying attention to the market, not understanding risk, not having a well-thought out trading strategy, and being bad at managing the trade.

Whatever the reason, trading errors occur and it is how we react to them that matters.

Long-term success in trading is not a goal that can be accomplished overnight.

Achieving long-term success with active trading requires patience, discipline, and practice.

It is easy to get caught up in day-to-day successes and forget to commit to a long-term plan. As traders, it is important to be able to recognize our mistakes so that we can learn from them and move forward.

Top 5 Trading Mistakes

As you will see, we compiled a long list of trading mistakes. Each trader will see some of those trading errors in themselves. Some are small trading mistakes while others are detrimental.

First, we are going to focus on the top five trading mistakes first. This will make or break your success as a trader.

The following are five common trading mistakes that traders make and how to avoid them.

#1 – No Trading Plan

Trading without a plan means you enter a trade without knowing your next step.

No trading plan means that traders are not able to set clear goals, establish risk-reward ratios, and avoid common pitfalls that can occur during a trade. This makes it difficult for traders to know when they should be buying, selling, or holding.

Trading without a plan is risky because it can lead to losses that are much higher than they need to be.

When starting out in trading, it is important to remember that we can only focus on what we can control. This means that we should not worry about things we cannot change, such as the past or the behavior of other traders. Instead, we should form a trading plan and stick to it so that we can succeed in the long run.

Creating your trading plan will happen with many revisions. The goal of the trading plan is to set your overall strategy for trading.

Also, you need to have a specific trading strategy for each trade you enter.

Avoid by: Spending time to develop a trading plan. Revise as needed. Stick to it.

#2 – Risk Management Plan is Missing

A risk management plan is essential for traders and it should be included in any trading plan.

Without a risk management plan, traders are more likely to make emotional decisions that can lead to costly mistakes. For many traders, this is the hardest thing for them to manage.

It is possible to create a risk management plan as your overall trading plan.

In your risk management plan, you must decide (in advance) how much money you are willing to lose based on the amount of profit you perceive to make. For instance, you are willing to risk $300 in order to make $1000.

Many day traders focus on a 2:1 reward-to-risk ratio. Personally, I look for stronger reward-to-risk ratios greater than 3:1.

Avoid by: Understand how risk is a part of making a profit. Set your risk tolerance and do not deviate from it.

#3 – Not Keeping a Trading Journal

One of the most important aspects of successful trading is keeping a journal.

This not only helps you keep track of your trades and performance, but it can also help you remember what worked and what did not. Journaling is so helpful and such an overlooked task.

Your trading journal is the perfect place to take notes, keep track of your wins and losses, and record market movements so that you can learn from past mistakes.

At the end of every trading session, you should take some time to analyze your trades.

  • What went well?
  • What didn’t go well?
  • Why did you make that particular trade?
  • What was your entry strategy?
  • What was your exit strategy?
  • Where was the overall market momentum?
  • Did you control your emotions?
  • What grade would you give yourself?

This analysis is important so that you can learn from your mistakes and improve your trading skills. Stay motivated to continue learning about trading and keep more profit.

Avoid by: Start journaling. Spend time after exiting a trade and the market day to understand what happen and why you did a certain trade.

#4 – Watching Too Many Stocks

Watching too many stocks can lead to a decrease in returns and overall confusion on what is happening with your watchlist.

As a result, it is important to be selective.

The same can be said of stock scanners. If you are watching too many variables and possibilities, you can quickly become overwhelmed.

When you develop your trading plan, you need to decide how you find stocks.

Personally, I prefer to focus on a handful of stocks and a few key metrics. Then, watch them closely and trade accordingly.

As a new trader, I would pick about 5-10 stocks to analyze.

Avoid by: Revise your watchlist to half what you are currently watching.

#5 – Actually Exiting Trade as Planned

Above we talked about creating a trading plan and having a trading strategy for each trade taken.

But, the trading mistake happens when you do not exit the trade as planned.

This could be because of “hopemium” that the stock price will recover and you will get back your loss.

Our “hopemium” is that the stock price keeps rising and you will make more money.

Either one can be damaging to your trading account.

You created a plan. As a disciplined trader, you must follow your plan either to maximize your current profit or protect your risk against further losses.

Avoid by: Exiting at your set targets. Period.

12 Typical Emotional Trading Errors

Trading is 80% mental and 20% execution. Okay, I am not sure that there is an official study to back it up. But, I do know as a trader that emotions play heavily into your overall profit.

The typical emotional trading errors that traders make when they are in a trade are overconfidence, jumping into trades before the proper analysis is completed, and inability to take losses.

This is where most of the trading mistakes are made.

When first starting out in trading, it is easy to get caught up in the prospect of making a lot of money quickly. However, most traders find that trading is not easy to do and make common emotional trading errors.

Let’s dig into these emotional mistakes first and then we will follow up on the technical trading mistakes.

1. Letting emotions impair decision making

Emotions are an important part of decision-making, but it can be dangerous to allow them to influence our decisions. We should also take into account that emotions can often lead us astray.

It is clear that emotional trading can lead to bad decision making and, ultimately, financial losses.

When investors let their emotions take over, they are not thinking logically and may make impulsive decisions. For example, they may sell stocks when the market is down in order to avoid further losses, even though the stock may rebound soon after.

In order to be successful traders, it is important to stay calm and rational when making decisions.

Overcome by: Stick to your trading plan and take emotion out of the equation.

2. Unrealistic Profit Expectations

You go into every single trade expecting a home run! Enough money to achieve your dreams overnight!

These types of profit expectations will have you throwing your risk management plan out of the window and set you up for failure with greed, overconfidence, and impatience.

Be realistic about your expectations with trading activity.

Overcome by: Go for base hits. Small consistent wins.

3. Greed

Greed is a deep-seated need for more profit without regard to the chart or market conditions.

The common rationale is hopefully the stock will go up. Typically, you hold your position too long and end up losing some of your gains.

Greed can manifest in many different ways, and people with greed often neglect their own needs in order to attain more.

Overcome by: Set an OCO bracket to exit the trade at your specified level. Take you out of the equation.

4. Fear of Missing Out (FOMO)

You fear that you missed out on a trade, so you decide to jump in. As a result, you are risking more than you should.

This trading mistake is common, especially with online trading communities.

As a result, you may buy at the high and watch the stock reverse.

Overcome by: Realize that there will be missed opportunities. That is part of the game. There will always be another chance.

5. Fear

In many cases, fear is a reaction to why or why not we enter a trade.

For any trader, they may become frozen unable able to make a decision as their mind is wrapped in fear. At the same time, they are either missing out on potential profits or unable to exit a trade due to mounting losses.

Overcome by: This is a real emotion that you must overcome. Take the time and read resources to help you overcome being paralyzed by fear.

6. Overconfidence after a profitable trade

The overconfidence that comes with success can lead to a loss of profits.

When a trader has a winning position, they may become overconfident and make bad decisions because of the previously profitable trade.

For example, they may not take their profits off the table when there is an opportunity to do so or increase their position size when they should be taking profits. This could lead to them losing all of their winnings and more.

Overcome by: Take a break from trading for a few days or a week after a big win.

7. Entering a Trade Based on Your Gut

The process of entering a trade based on your gut is, essentially, following your “gut feeling” and buying or selling shares after the market opens. This is seen as a more risky and less profitable strategy than following a more traditional market timing approach.

Trading is all about making calculated decisions and sticking to a plan.

Trading based on your gut feeling or emotions will only lead to costly mistakes.

Overcome by: Before entering into any trade, make sure you have a solid strategy in place and know all the rules. Only then should you start trading.

8. Not reviewing trades

Not reviewing trades is a common problem for many traders. Traders who don’t review their trades tend to be more likely to make mistakes in their trading and over-trade, which can result in losses.

You will make the same mistake over and over again until you realize the root of the problem.

This is how you move from a losing average to a winning percentage.

Overcome by: Let your journal be your friend. Document everything including your emotions.

9. Following the Herd

Many people enjoy following the herd with stock trading, especially online platforms on Reddit, Discord, or Twitter.

You may decide to follow a certain group of people in order to be fed stock picks or updates.

This can be risky because there is no sound foundation to base your trade upon.

Overcome by: Trade your style and let that fit you.

10. The Danger of Over-Confidence

The “beginner’s luck” experienced by some novice traders may lead them to believe that trading is the proverbial road to quick riches.

Over-confidence is the belief that one’s abilities, knowledge, or qualities are better than average.

This over-confidence is a risk factor for certain types of mistakes and other negative outcomes as it leads to complacency, a lack of preparation, and an overestimation of one’s abilities.

Overcome by: Realize your limitations and watch for overconfidence to appear.

11. The Importance of Accepting Losses

Losses are always a part of trading life, but they can be overwhelming when they occur.

It is important to recognize that losses are in fact an inevitable part of growth and development as a trader.

Overcome by: Journal all of your losses. Look for patterns to appear. Adjust your trading strategy as appropriate.

12. Quit Your Job Too Fast

Quitting your job too fast is not a good idea, as it will force you to place trades that may not be the best set-ups.

Day trading can be a very risky venture, and it is possible to lose everything you have invested.

It is important to be aware of the risks before getting started. More importantly, do not quit your job too fast. This can lead to losses in your investments and could potentially put you in a worse financial situation than you were before.

Overcome by: Keep trading as a side hustle. Hone your trading skills and build up a reserve fund that will cover your monthly expenses. You will know when you are prepared to leave your 9-5.

Common Mistakes in Stock Trading

According to a study by the U.S. Securities and Exchange Commission, technical trading mistakes are actually fairly common among individual investors.

Mistakes in technical trading can be two-fold, either due to lack of knowledge or poor execution.

The most common mistakes are buying at the top and selling at the bottom, overtrading, and not taking the time to properly understand how trading works.

Now, let’s dig into all of the common trading mistakes I see.

1. Overtrading

Let’s start by talking about overtrading. This is a mistake that I see many people make. It is also a mistake that could have been easily prevented if you had just done your research before placing the trade.

Overtrading or placing more orders than you should do is the most common mistake.

Many new traders will simply open up their platform, look at the market, and place a trade. They are often chasing after the last couple of candles or they see an opportunity to get in “on the cheap”.

The problem with this approach is that you have no idea if this is a good trade or not. You are simply taking a shot in the dark and hoping for the best.

Overcome by: Only place the A+ setups that you like. Once you have traded so many times per day or week, stop trading.

2. Buying High and Selling Low

We all have heard the saying, “buy high and sell low.” However, too many novice traders do the complete opposite.

This trend happens with one of the emotional mistakes of FOMO; we already dived into that concept earlier.

Overcome by: Follow your trading plan on when to enter and exit the trade. Practice your strategy in a simulated account and master it.

3. Lack of Trading Knowledge

The lack of trading knowledge is a problem for many traders who are not familiar with how the stock market works. This can cause them to make mistakes when buying and selling stocks, which could result in losing a lot of money.

Just because you made a profit once on one stock does not mean that is a repeatable action.

In order to be successful in trading, it is important to have a good understanding of the markets and the strategies involved.

Without proper training, you are likely to make costly mistakes that can cost you money. Trading courses and tutorials are available online and through other resources to help you gain this knowledge and become a successful trader.

Overcome by: Take an investing course. Spend money on your education and not your losses. Here is a review of my favorite day trading course.

4. Following Too Many Strategies

Following too many strategies is a common problem in the investing world, which can lead to poor performance and more costly mistakes.

There are a million and one different approaches on how to trade the stock market, which indicators to use, whose advice you should follow, so on and so forth.

And then, many traders try and couple the strategies together only to quickly learn they may cause more losses than profits.

One way to avoid following too many strategies is by using a set of rules to decide which strategies are appropriate for investing.

Overcome by: Develop your trading plan. Outline the investing strategies you will use. Test any new strategies in SIM first.

5. Do Your Research

The solution to this problem is simple: do your research!

Before you enter a trade, take the time to do some analysis on the asset you are looking at. Look at past price action, news events, and any other relevant information that you can find.

Understand why the market might move in your favor and be able to build a case for it. The more data points you have supporting your position, the better off you will be.

If you are able to build a strong case for why the asset will move in your favor, then you can enter with confidence. This is because if the market does not move in your favor, you will know that it isn’t because of a lack of research on your part.

When you enter with confidence, this will make it easier to hold through the inevitable volatility and price swings.

Overcome by: If you enter without knowing why something is likely to move in your favor, then you are setting yourself up for failure. Do your research.

6. Not Using Stop-Loss Orders

Stop orders come in several varieties and can limit losses due to adverse movement in a stock or the market as a whole.

Tight stop losses generally mean that losses are capped before they become sizeable. However, you may have your stop loss too tight and get stopped out before your stock has room to move.

A corollary to this common trading mistake is when a trader cancels a stop order on a losing trade just before it can be triggered because they believe that the price trend will reverse.

Overcome by: Plan your stop loss in advance. Stick to it as it is part of an overall risk management strategy.

7. Letting Losses Grow

Active traders can be harmed by refusing to take quick action to close a losing trade.

It is important to take small losses quickly and limit your risk in order to stay profitable.

Stop losses can help you avoid larger losses.

While the stock may come back to your buy price, you have increased your risk far beyond what you planned. If your planned loss was $300 and now you are down over $500, it will take that much longer to overcome that growing loss.

Cut your losses. Review the chart. See what a better entry point may be.

Overcome by: If the stock moves past your pre-determined stop, then exit the trade. Don’t trade on hope.

8. Chasing After Performance

Many day traders are tempted to chase stocks, which is a bad reputation in the day trading world.

This happens when they see a stock that has had a large price increase and they think that it will continue to go up. In reality, this is not usually the case, and chasing stocks can lead to big losses.

What goes up must come down, right?

Overcome by: Wait for a better time to enter the trade according to your trading plan.

9. Avoiding Your Homework

It is important to do your homework. If you avoid doing your homework, then don’t expect fast results

Many new traders often do not do their homework before making any investment decisions.

This can lead to costly mistakes that can be avoided by doing some basic research. Trading is a complex process and should not be taken lightly – make sure you are fully prepared before risking your hard-earned money.

Overcome by: If you have not enrolled in an investing course, do that. Set daily goals on how to improve your trading performance that is not based on profit or loss.

10. Trading Difficult and Unclear Patterns

It is important to stick with the patterns and indicators that are clear and unmistakable so you don’t get caught up in any ambiguous or unclear trading signals.

With a little bit of research and understanding, these market patterns can become quite clear.

By forcing a chart to fit in what you want, then you are putting your trading capital at risk.

Overcome by: If you cannot read a clear chart or pattern, then quickly move to the next stock.

11. Poor Reward to Risk ratios

The most common mistake made by traders is poor risk management. This usually means taking on too much risk in relation to the potential rewards, which can lead to heavy losses if the trade goes wrong.

It is important to always have a solid plan for how much you are willing to lose on any given trade and never deviate from it.

What is the Reward to Risk ratio you look for:

  • 1:1 Reward to Risk
  • 2:1 Reward to Risk
  • 3:1 Reward to Risk

Many beginner traders do not want to take on as much risk because their appetite for potential rewards may be lower. It is important for beginners to consider their trading strategies and risk management plans so that they can make the most informed decisions possible.

Risk-to-reward ratios are an important part of trading, and experienced traders are typically more open to risk in order to maximize their potential rewards. This means that they may be more likely to make high-risk, high-reward trades.

Overcome by: Stick to Risk to reward ratios that fit your trading plan.

12. Ignoring volatility

Volatility is the fear and unknown in the market.

The most important thing to remember about investing is that the stock market can be volatile.

A measure of volatility is from the VIX.

Overcome by: Decide how you will trade when the VIX is high and the news is negative.

13. Too Many Open Positions

Entering too many positions is one of the most common mistakes investors make. A portfolio should consist of a handful of top-performing investments that have proven to be good bets over time.

It is unwise to open too many positions in a short amount of time because it could lead to confusion.

This can be risky because if one or two of the positions go south, the entire portfolio can suffer. For this reason, it is important to carefully consider each position before opening it and make sure that all positions are contributing positively to the overall goal.

Overcome by: As an active trader, stick to under 5 open positions. As a long-term investor, look to build a portfolio of 25 stocks over time.

14. Buying With Too Much Margin

Most brokers offer 2:1 or 4:1 margin to cash. While this is tempting to use, it can also give you a margin call.

Margin can help you make more money by increasing your position size, but it can also exaggerate your losses.

Exaggerated gains and losses that accompany small movements in price can spell disaster for a new trader using margin excessively.

Overcome by: Use your cash only. Stay away from using margin.

15. Following Meme Stocks

These are the stocks made popular by many Reddit personal finance groups.

You have probably heard of Gamestop, Blackberry, AMC, or Bed Bath and Beyond as a meme stock.

While these stocks have risen to crazy highs, they have also fallen just as fast. Chasing the high may leave you with a big and painful loss.

Overcome by: Stick to your stock watchlist.

16. Buying Stocks With No Volume

Buying stocks with no volume is a risky idea that involves placing an order on a stock without knowing how much interest there will be in the shares. This can result in losing money if there are no buyers for the shares.

It is important to validate the price of a stock by looking at volume. The volume shows how much interest there is in a stock and can be indicative of future price movement.

When volume is low, it’s best to stay away from buying stocks as it could be a sign that the stock price is not stable.

Overcome by: Trade stocks with a volume of at least 500,000 or higher.

17. Ignoring Indicators

Indicators are things that tell us the market is going up or down. Examples of indicators would be the stock market at a particular point in time, a company’s performance with regards to earnings, the price of a product or service.

Every trader has their own set of indicators they use.

If you have outlined indicators you use in your trading, make sure to follow them regardless if it is against the way you want the stock to move.

Overcome by: Stick to your trading plan for each stock individually.

18. Trading Too Large Position Sizes

Trading too large position sizes is a risk that traders may run into when they hold positions in their portfolios for extended periods of time.

Position size is the amount of money placed on a trade, and the risk is that a trader may lose more than their capital on the trade if it does not go well.

Overcome by: Base your position size on the amount you are willing to lose. Not how much you want to make.

19. Inexperienced Day Trading

In order to be successful in trading, it is important to have a good understanding of the markets and the strategies you are using. Without proper training, it is easy to make costly mistakes.

Too many day traders turn trading into an unnecessary risky game.

To be successful, a day trader must have a solid foundation in how to invest in stocks for beginners.

Overcome by: Practice in a simulated account and make all of your mistakes there before moving to live money.

20. Inconsistent trading size

Inconsistent trading size is when traders are unable to predict what their position size should be in order to meet the trader’s desired profit goal.

Trading size is one of the most crucial aspects of a trading strategy and should be considered carefully. Larger trade sizes come with an increased risk, so it’s important to be aware of your position size when making trades.

Overcome by: Don’t risk too much on one trade. Stick to your risk management plan.

21. Trading on numerous markets

Trading on numerous markets is when a trader invests in stocks, bonds, commodities, crypto, and other securities.

Every type of market moves differently and takes time to understand how to be profitable.

Overcome by: Find your niche and stick to it.

22. Over-leveraging

Leverage is a powerful tool that can be used to magnify gains and losses in a trade. It is important to be aware of the amount of leverage being used in order to effectively manage risk.

Brokers play an important role in protecting their customers by providing margin calls and other risk management tools.

Overcome by: If you feel over-leveraged, sell some positions before your broker gets involved.

23. Overexposing a position

Overexposure is a term used in the investment world to describe the risk that comes with exposing your position too much in the market. When you have overexposed your position, you are putting yourself at risk of losing money if the stock or security you are invested in falls in value.

You are taking on too much risk.

Overcome by: Stick to your risk management plan. Always have cash reverse on hand in case the market reverses.

24. Lack of time horizon

There are different time horizons for various types of trading strategies. It is important to think about the time horizon you are comfortable with before investing in any type of investment.

If you are a day trader, you plan to close your trades before the end of the trading session. As a swing trader, you typically hold trades for a couple of days maybe up to a month. As a long-term investor, you plan to hold your stocks for longer than a year.

Overcome by: Match the time horizon of that investment purchase with your investing goals.

25. Over-reliance on software

Although some trading software can be highly beneficial to traders, it is important not to over-rely on it.

Automated trading systems are becoming so advanced that they could revolutionize the markets. As a result, human traders need to be aware of the potential for these systems to make mistakes and use them in conjunction with their own judgment.

Overcome by: Set alerts before you want to enter or exit a trade. Then, review if the move still follows your trading strategy.

Top Options Trading Mistakes Beginner Traders Make

These options trading mistakes are specific to option trading.

Trading options is an advanced strategy. If you have losses trading stocks, wait before you start trading options.

1. Not having a Trading Plan

Every trader needs a trading plan that outlines strategies, game plans, and trade metrics.

When you are trading without a plan, you are essentially gambling and hoping for the best.

This is not a recipe for success in the world of stock trading and is especially true for options traders.

A good trading plan should include chart analysis so that you can make informed decisions about when to buy and sell stocks. If you are using HOPE instead of a trading plan, then you need to find out the right way to interpret the chart because that will give you a better idea of what is happening in the market and how likely it is that your investment will succeed.

Overcome by: Create a specific trading plan based on your option strategy.

2. Not properly Researching Option Contracts

Learning to trade options is like going to school for a whole different trade.

There are way too many technical aspects to discuss in this mistake.

Spend time learning what criteria you want from an options contract to be successful.

Overcome by: Learn how options work and practice trading options in the simulator before going live.

3. Trading without an understanding of the underlying asset

Before you start trading options, trade with stocks.

Every stock moves at its own beat. You need to learn how it moves.

Jumping into options prior to knowing the stock can cause extreme losses. Learn how the underlying asset moves first. Be successful in trading stocks before moving to options.

Overcome by: Learn to trade the stock with shares first. Then, practice in a simulator. Once familiar, then trade live with options.

4. Buying Out-of-the-Money (OTM) Call Options

Options trading is a risk-based strategy. It’s important to know which strategies are right for you and what the risks of each option type are before putting on an option trade.

One common mistake that many traders make when it comes to option trades is buying out-of-the-money (OTM) call options.

This is because OTM call options are inexpensive and have a range of around 100,000 to 1 million. To avoid this mistake, it’s important to know what the risks of buying OTM call options are and which option strategies are appropriate for you.

Overcome by: Focus on trading In-the-money (ITM) call contracts. Know your strategy.

5. Not Knowing What to Do When Assigned

When you enter into an options contract, you are essentially agreeing to buy or sell the underlying asset at a specific price on or before a certain date.

If the market moves in a way that benefits the buyer of the option (the person who contracts to buy the asset), they can choose to exercise their option and purchase the asset at the agreed-upon price. However, if the market moves in a way that benefits the seller of the option (the person who contracts to sell), then they may “assign” their contract to someone else – meaning that they no longer want to buy/sell the asset, but would like someone else to take on that responsibility.

This can be jarring if you haven’t factored it into your decision-making when trading options, so it is important to be aware of the possibility.

This is why traders need a higher trading level to sell options contracts or verticals.

Overcome by: Be okay with buying the shares if you are assigned. That is a part of your trading plan.

6. Legging Into Spreads

It is a common mistake for traders to get legged into spreads by entering positions when the market price has moved away from their position. They may have gotten caught up in the belief that they are being a “smart” trader by trying to profit from the spread.

The problem is that they are not taking into account that their cost basis must go up in order to maintain the position. If the market price of the underlying goes up, their cost basis must go up as well.

Overcome by: If you are not comfortable with this advanced strategy, then exit your options contract and place a new one.

7. Trading Illiquid Options

Trading illiquid options is a mistake because traders are taking on too much risk, with potentially disastrous consequences.

Illiquid means that the option cannot be bought or sold at the given time.

In other words, the option is not tradable. When traders trade illiquid options, they are taking a risk that their trades will not be executed because there is no liquidity in the market at that time. They have to hope that the market will become liquid again, and they can then sell their position or buy back their option at a lower price.

Overcome by: Check option volume and open interest at your strike place. Verify you have interest in moving your contract.

8. No Exit Plan

It is important to have a plan in case your trading strategy doesn’t pan out as planned.

This will give you the peace of mind that you won’t be left high and dry without an exit strategy.

With options is it more difficult to limit your risk to reward. As a result, you must decide your exit plan in advance.

Overcome by: Develop your trading strategy and include how and when you will exit the option contract.

Ready to Avoid these Trading Mistakes?

Investors are often their own worst enemy when it comes to trading.

They make emotional decisions instead of logical ones, and this leads to them making costly mistakes. Plus there are many technical errors new and seasoned traders are still making.

In order to be successful in the markets, investors must first learn to accept their losses and move on. Only then can they put that mistake behind them and focus on making profitable trades in the future.

In this post, I shared some of the more common trading mistakes that people make and how to avoid them.

Now, you have to work to avoid these trading mistakes and be profitable.

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

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By Contributing Author 10 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited May 20, 2013.

The Roth IRA (and its cousin, the Roth 401k) are getting press lately and with good reason. There is a fear that taxes will need to rise over time and we will all find ourselves retiring in a higher tax bracket than we are in today.

Let’s first take a step back to understand what these account are and how they work.

What Is An IRA, And How Does It Work?

A traditional IRA account or 401(k) account allows you to deposit money into an account prior to having it taxed. If you are in the 25% bracket ($67,900 taxable for married filing joint or $33,950 filing single) you can put $5000 into the IRA ($6,000 if you’re over 50 this year) or you can pay $1,250 in taxes and clear $3,750.

With the introduction of Roth a number of years ago, you have a new choice, to pay the taxes now, clearing that $3,750 and after depositing into the Roth account (or Roth 401(k) where the limits are $16,500 or $22,000 if 50 or older) and not paying any taxes when you withdraw these funds at retirement.

At some level this is a simple choice, pay tax now or pay it later. Let’s think about this a moment. Do you know your current marginal rate? Do you know what “marginal rate” means? A simple way to look at this is that your marginal rate is the (federal) tax you’ll pay on the next $100 of taxable income. You may make over $80,000 and see that your taxes aren’t quite $10,000, but the next $100 is taxed at 25% or $25. An important distinction to understand. Fairmark offers a nicely presented chart to see marginal rates, it’s important that you understand this concept before making any decisions. Knowing your current marginal rate is easy, projecting what it will be at retirement, not so easy. It’s this ‘not knowing’ that may prompt you to go one way or the other, but there are steps you can take to improve your decision process.

When To Put Into A Roth IRA

At the beginning of your career (and younger, if you are working as a teen), there’s a good chance you are in the 15% bracket. Now is a good time to put some money away in Roth accounts.

As your salary increases, you are likely to take on a mortgage, and perhaps start a family. This gives you deductions for the mortgage as well as the additional exemption (and perhaps earnings) of your spouse. If despite that, you are in the 25% bracket or higher, I’d suggest using pretax savings, the traditional 401(k) and IRA accounts. Now is the time in your life to learn to project out what your retirement will look like. Are you on track to have $2 million dollars in pretax accounts? If not, continue to save pretax. Why $2 million? A conservative withdrawal rate is about 4%/yr. This results in $80,000/yr upon retiring, and right now that will put you toward the top of the 15% bracket. Also, keep in mind that few people work 40 years with no break or disruption to their income. Use these disruptions (times you will drop into a lower bracket) to convert funds from a traditional IRA to a Roth, in essence “filling up the bracket” just enough to top it off but not go into the next.

Last, toward the end of your working career, the decision becomes very simple. With retirement only a few years away, you should be able to calculate what your marginal rate will be after you retire. If the same or higher, go with Roth, if it will be lower, go with traditional.

Once retired, continue to take advantage of the Roth conversion option. In 2009 a married couple can have $86,600 in gross income and still be in the 15% bracket. If they are withdrawing say $40,000 per year from pretax accounts, they should consider converting right up to the $86,600 figure and pay the 15%. This money will never be subject to RMDs (required minimum distributions) and when you pass, your heirs will not have to pay income tax on the withdrawals as they would from a traditional account. This also will help you avoid that higher 25% bracket as the equation to calculate your RMD continues to force you to take a larger portion of your account out each year.

Are you currently taking advantage of a Roth IRA? Why or why not? What types of retirement accounts are you investing in and why?  Let us know in the comments!

This is an article by Joe from JoeTaxpayer.com. Stop by his site and subscribe to his feed for more great articles!

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Source: biblemoneymatters.com

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Las Vegas, with its glitz, glamor, and vibrant entertainment scene, has long been synonymous with a thrilling vacation destination. However, when it comes to choosing a place to call home, many wonder if Las Vegas truly offers a desirable living environment. To help you make an informed decision, let’s explore the pros and cons of living in Las Vegas. From the excitement of world-class entertainment and access to outdoor pursuits to the challenges of scorching summers and traffic congestion, Las Vegas presents many different factors to consider. So, whether you’re looking to rent an apartment in Las Vegas, purchase a home in the area on Redfin, or simply curious about what it’s like living in Las Vegas, join us as we delve into 11 pros and cons to help you determine if Las Vegas is the right place for you to put down roots.

Pros of living in Las Vegas

1. An abundance of activities

Las Vegas, known as the “Entertainment Capital of the World,” offers an unparalleled number of activities for visitors of all interests. From iconic resorts along the famous Las Vegas Strip like Mandalay Bay and the Venetian to downtown’s Fremont Street, visitors can explore an array of casinos, live performances, and stage productions. Beyond the gaming and entertainment scene, Las Vegas also offers luxurious shopping experiences, championship golf courses, and rejuvenating spas. For outdoor enthusiasts, the city is surrounded by stunning natural landscapes, such as the nearby Red Rock Canyon and the Hoover Dam. Additionally, Las Vegas boasts a wide range of gourmet dining options, from celebrity chef restaurants to international cuisines. Some of which include Bouchon, Peppermill, and Carson Kitchen.

2. Food scene

Las Vegas has established itself as a food lover’s paradise, offering a remarkable culinary scene that rivals some of the world’s finest cities. Renowned for its diverse and extravagant dining options, Las Vegas boasts a multitude of Michelin-starred restaurants and celebrity chef establishments like Piccaso, Joel Robuchon, Gordon Ramsay Steak, and Giada. 

The Las Vegas Strip alone is home to a staggering array of dining choices, where visitors can savor cuisines from around the globe, including Japanese, Italian, French, Mexican, and many more. Additionally, Las Vegas hosts numerous food festivals and events throughout the year, such as The Great American Foodie Fest and San Gennaro Feast. For those seeking a more casual dining experience, Las Vegas also offers an array of bustling food courts and food trucks like Block 16 Urban Food Hall and Eataly Food Court at Park MGM.

3. Access to nature

Despite its reputation as a bustling city of lights, Las Vegas provides easy access to breathtaking natural wonders and outdoor recreational opportunities. One of the most popular destinations is the nearby Red Rock Canyon National Conservation Area, known for its striking red sandstone formations and picturesque hiking trails. Adventurers can embark on scenic drives, rock climbing adventures, or simply take in the views. Moreover, within a few hours’ drive, outdoor enthusiasts can reach several national parks, including Death Valley National Park, Zion National Park, Bryce Canyon National Park, Joshua Tree National Park, and Grand Canyon National Park. 

4. No state income tax

One of the significant advantages of living or working in Las Vegas is the absence of state income tax, as Nevada does not impose a personal income tax on its residents. This favorable tax environment means that individuals can keep a larger portion of their earnings compared to many other states in the United States. 

5. Great airport

Las Vegas is served by Harry Reid International Airport, which is one of the busiest airports in the United States. As a major transportation hub, Harry Reid International Airport offers excellent connectivity to domestic and international destinations, making it convenient for travelers from around the world. The airport is located just a few miles south of the Las Vegas Strip, allowing for easy access to the city’s resorts and attractions.

6. An up-and-coming sports city

Las Vegas has rapidly emerged as a thriving destination for sports boasting an exciting and up-and-coming sports scene. The National Hockey League (NHL) welcomed the Vegas Golden Knights in 2017. Since its inception, the Golden Knights have made it to two Stanley Cup Finals, one in 2018 and another in 2023. Furthermore, professional football arrived in Las Vegas with the relocation of the Oakland Raiders to become the Las Vegas Raiders in 2020. The state-of-the-art Allegiant Stadium, situated just off the Strip, serves as the team’s impressive home venue. Las Vegas also is home to the Las Vegas Aces, a professional women’s basketball team. The Aces have quickly become a force to be reckoned with, boasting a talented roster and consistently making their mark in the league.

Cons of living in Las Vegas

7. The summer heat

Las Vegas is notorious for its scorching summer heat, creating challenging conditions for residents and visitors. With temperatures often soaring well above 100 degrees Fahrenheit (37 degrees Celsius), the intense heat can be overwhelming and uncomfortable. The relentless sun and lack of shade make outdoor activities during the daytime difficult. 

8. Lack of public transportation

One of the challenges in Las Vegas is the limited availability and effectiveness of public transportation. While the city has made efforts to improve its transportation infrastructure, including the implementation of a bus system and the Las Vegas Monorail, the overall public transportation network remains relatively underdeveloped compared to other major cities. The bus system, while serving some areas, may not offer comprehensive coverage, resulting in longer travel times and limited access to certain destinations. The Las Vegas Monorail primarily operates along the Las Vegas Strip, making it convenient for travelers staying in that area but less useful for those needing to reach other parts of the city. As a result, many residents and visitors rely heavily on private vehicles or rideshares to navigate Las Vegas.

9. Lack of greenery

One of the drawbacks of Las Vegas is its noticeable lack of greenery. The desert landscape surrounding the city means that lush vegetation and expansive green spaces are scarce. Instead, visitors and residents are greeted with a predominance of arid desert terrain characterized by rocky terrain, sparse vegetation, and a limited presence of trees and plants. This scarcity of greenery can make the city feel stark and somewhat monotonous in terms of natural scenery. 

10. You can’t see stars

One disappointing aspect of Las Vegas is the difficulty in seeing stars due to light pollution. The city’s vibrant nightlife and dazzling displays along the famous Las Vegas Strip create a continuous glow that permeates the sky, obscuring the natural beauty of the stars. The abundance of bright lights, neon signs, and illuminated buildings results in light pollution, which significantly diminishes the visibility of celestial objects. If you want to go star-gazing, expect to drive well outside the city before you begin to see twinkles in the night’s sky.

11. No four seasons

One aspect that some may find disappointing about Las Vegas is the absence of four distinct seasons. The city’s desert climate contributes to hot, dry summers and mild winters, with relatively little variation throughout the year. This lack of distinct seasonal changes can make it feel as though the year blends together without clear transitions between spring, summer, fall, and winter.

Source: redfin.com