Life, liberty, and the pursuit of happiness are what the founding fathers hoped to bring to their fledgling nation when they signed the Declaration of Independence in 1776.
As we all take the day to celebrate the beginning of the path which led to the creation of the United States as we know it today, you might be surprised how money is factored into this holiday season.
Here’s a quick look at some of the most interesting financial facts about the Fourth of July.
What’s Ahead:
Americans officially adopted the dollar in 1785
Although the Declaration of Independence did not occur until 1776, the first American currency was introduced in 1775. At that point, the Continental Congress had decided to issue national paper money in an attempt to cover their military expenses.
Of course, the ruling country of Britain outlawed this original currency, but the rebels printed the money anyway throughout the Revolutionary War. This first paper note was taken out of circulation in 1780.
It wasn’t until 1785 that the United States officially adopted the dollar as its unit of currency.
Hot dog-eating contests bring home big cash prizes
The annual Nathan’s Famous Fourth of July International Hot Dog-Eating Contest takes place each year. The winner of this competition will take home $40,000.
Joey Chestnut holds the top spot after eating 75 hot dogs and buns in just 10 minutes. Although you may not be able to top that record, it is fairly likely that you will be eating hot dogs as a part of your celebrations. In fact, 150 million hot dogs are sold each year for the Fourth of July. These sales account for a whopping 19% of all hot dog sales for the year.
Americans spend more than $1 billion on beer
What’s more American than a cookout complete with hot dogs and beer?
On the Fourth of July, Americans spend $1 billion on beer.
Plus, U.S. consumers spend an additional $600 million on wine!
Americans also spend a total of $6.7 billion on cookouts to celebrate
According to a survey conducted by the Vacationer, 73.41% of Americans plan to attend a cookout to celebrate this year. That means almost 190 million people are planning to attend a cookout or BBQ.
Cookouts aren’t complete without the mass amounts of hot dogs and beer purchased by Americans each year. All in all, according to CNBC, Americans will spend approximately $6.7 billion on cookouts and related Fourth of July celebrations.
Most Americans traveling to celebrate plan to spend less than $500
The Fourth of July has been a historically busy travel weekend. After a strange summer of 2020, when just 14.72% of Americans traveled for the Fourth of July due to the pandemic, over 51% of Americans are planning to travel for 2021’s Fourth of July.
Of the travelers, most are planning to spend less than $500. With that, the festivities could take a bite out of your budget if you don’t plan ahead.
Americans spend $1 billion on fireworks
Fireworks may be the quintessential activity for a traditional Fourth of July celebration. After all, there is something special about seeing red, white, and blue explosions in the sky, but the experience doesn’t come cheap.
Each year, Americans spend around $1 billion on fireworks to mark the occasion. From small sparklers to major fireworks, you can find a wide range of options around the country.
Summary
Many will be celebrating this special holiday. And many will be stretching their budgets to accommodate their celebrations. Luckily, it doesn’t have to be a terribly expensive day for the average consumer. You can save a lot by turning the weekend into a staycation instead of traveling like most Americans.
How will you celebrate the Fourth of July? Let us know in the comments!
For many of us, the idea of making $60,000 a year is nothing short of a dream. But what does that really mean? How much is that an hour before taxes? And after taxes? What kind of lifestyle could you afford with this income?
These are all questions we’ll explore in this article as we take a look at the average hourly wage and how it affects your annual income and after-tax income. We’ll also make necessary calculations to figure out how much you can expect to make after taxes each year, along with strategies for budgeting and saving to make the most out of your money. So if you’re curious about how far $60,000 can stretch in today’s economy, keep reading.
Table of Contents
$60000 a Year Is How Much an Hour?
Assuming you’re working a standard 40-hour week, you’d be raking in a cool $28.80 per hour.
When working 40 hours per week for 52 weeks a year, you’ll clock in 2,080 hours of work.
Divide that $60,000 salary by the 2,080 hours, and there’s your savvy $28.80 per hour rate.
That’s quite the step up from the federal minimum wage, isn’t it? Of course, your exact hourly rate could vary based on your work hours, but one thing’s for sure, you’ll be making a pretty penny.
But what if you work more or less than the standard work week?
Well, the lowest you could go while still making $60,000 a year is $6.8 per hour—albeit by working every waking (and non-waking) hour of the year, which is, let’s face it, impossible.
On the flip side, working less could bump your hourly wage up to a whopping $57.6. To earn this average wage, you would need to work 20 hours a week, which adds up to a total of 1,040 hours. However, this depends on your work schedule and other factors, such as other obligations you may have.
Earnings Disclaimer
It’s important to note that your earnings will remain constant even if you work fewer hours. Therefore, it’s essential to maximize your productivity during your designated work hours.
How Does 60K a Year Compare?
Let’s get down to the nitty-gritty of your $60,000 salary and see how it measures up. In 2023, the United States national median income is $80,893 – a sweet 3.4% jump from 2022. So, with your $60,000 paycheck, you’re actually earning 25% less than the average Joe. Fear not, though! Remember that median household income represents families, not solo earners.
If your household has more than one income earner and rakes in a collective $80,000, congrats! Your clan is pretty close to the median income party in the good ol’ US of A.
Is $28.80 a Good Hourly Rate?
Now, let’s shift gears and approach this with a more analytical lens. Earning $28.80 per hour results in an after-tax income of approximately $46,000 annually, placing an individual or a small family above the 2023 federal poverty threshold.
However, it is crucial to acknowledge that one’s location and the cost of living therein play a significant role in defining a viable salary. For urban dwellers, particularly in places like New York City, the cost of living tends to be higher than the national average.
Consequently, researching the regional costs and evaluating whether a $60,000 salary truly qualifies as a “livable wage” becomes a necessary and prudent step to take.
Is $60K a Year Worth Your Time?
While it might not make you a millionaire in NYC, this annual income can comfortably provide for a solid life in cities like Sioux Falls. All it takes is a knack for smart budgeting and cost-effective living arrangements to thrive on a 60K salary truly.
For singles enjoying solo living, $60,000 can be quite a generous budget.
However, if you have a family to provide for, you might place a higher importance on your time since you have to make sure your family’s needs are met. In the end, it is your decision whether earning $60,000 annually is worth the time you put in.
The key to thriving on this income is a spoonful of discipline in handling finances, carefully saving for retirement, and investing in experiences that enrich your life.
Remember: time is a finite resource – every hour spent on the job is an hour you won’t get back.
So find joy in what you do and make each moment count. Whether you’re a wide-eyed student trading monetary gains for the experience or a devoted family person, always remember that the optimal balance involves valuing both time and money.
How to Make More While Working Less?
Who wouldn’t want to make more money while cutting down on working hours? Guess what – it’s entirely achievable! To unlock this seemingly elusive treasure, you need to utilize your time efficiently and tap into your skills to their maximum potential. Ready to work smarter, not harder? Let’s dive in.
Obtain a High-Paying Position
As there is always room for growth, consider seeking a position offering an increased annual salary. The key to locating these jobs lies in networking within your industry and researching online job postings. An alternative approach is to employ the services of a career coach in discovering opportunities that provide better rewards for your efforts.
All of this can be improved if you focus on achieving high income skills . This includes mastering a particular trade, obtaining a higher degree of education, or investing in yourself so that your salary is more than what you currently make.
Boost Your Earnings with Passive Income
One clever way to maximize your earnings is by reinvesting a part of your salary (from that median wage of $60,000 a year) into opportunities that create passive income. This way, you can watch your bank account grow as you snooze or enjoy that long-awaited vacation without the nagging worry of federal tax.
Excited yet? Take a look at these passive income generators:
Rental properties for a steady income stream
Peer-to-peer lending, becoming the bank and collecting interest
Dividend stocks, reaping the rewards of business growth
Climb Corporate Ladder
Efficient and diligent work within your current job may open the doors for a promotion, increasing your annual earnings beyond median pay and widening your professional responsibilities.
Before taking any major steps, consult with your supervisor to gain insight into the available growth options within the company that may ultimately enhance your yearly salary.
Make Bank with Freelancing
Want more control over your schedule and your finances? Try freelancing! This side hustle lets you make some extra moolah while flexing your skills and giving you the freedom to manage your own hours. Trust us; your work-life balance will thank you.
Intrigued? Check out these freelancing side hustle gigs:
Editing, polishing ideas to perfection
Web design, making the virtual world your oyster
Graphic design, letting your creativity rake in the bucks
Bookkeeping, because everyone needs a numbers wizard
Writing, because the content is king
Remember, nearly anything you do at your 9-to-5 can also be turned into a lucrative freelance service. So go ahead, give it a shot, and earn more on your own terms.
How Does a $60,000 Annual Salary Break Down?
Biweekly Pay Breakdown
Crunching the numbers for a $ 60,000-a-year salary reveals some exciting insights about your earnings every two weeks. Picture yourself working a full-time job, clocking in 40 hours each week with no overtime. Divide that annual salary of $60,000 by the 26 bi-weekly pay periods, and you’re looking at a cool $2,307.7 in your paycheck.
But hold your horses.
Remember the saying, “Nothing’s certain but death and taxes?”
Well, your take-home pay usually ends up lesser than your biweekly paycheck, all thanks to taxes and other deductions such as income taxes, pre-tax deductions (retirement accounts, health savings bank accounts, etc.), FICA (Social Security and Medicare) taxes, state and local taxes, other miscellaneous deductions required by your employer, and health insurance premiums.
Monthly Pay
Now, what if you’re paid monthly? The anticipation of receiving your paycheck might be a tad longer, but imagine the thrill of seeing higher numbers! On a $60,000 annual salary, you’ll bag a monthly paycheck of a whopping $5,000 before taxes and deductions.
You may get paid time off and federal government holidays, depending on your company. For the average person, this means you’re effectively making more money per hour than your hourly rate implies.
How Much is $28.80 an Hour Annually?
Picture this: you make $28.80 an hour, which translates to roughly $59,904 annually. Not only are you ahead of the curve, but you’ll also be earning more than the national average of $58,563 per year, or $28.16 hourly, according to ZipRecruiter.
However, this number can fluctuate based on the total number of hours you work weekly. For instance, working 50 hours a week would increase your annual earnings to $74,880, while a 60-hour workweek would result in an impressive $89,856.
On the other hand, if you work less than 40 hours a week, your salary tapers off accordingly. A 30-hour workweek corresponds to $44,928 a year, while 20 hours of weekly commitment amounts to $29,952 per annum. Thus, it’s crucial to understand the expected work hours when considering a job that pays $28.8 an hour.
At the end of the day, it’s up to you to make the most out of your earnings and work smarter to increase your salary. Whether it’s freelancing, negotiating a higher wage, or taking on more responsibilities, there are numerous ways to increase your annual salary and take charge.
How Does Vacation Impact My Annual Salary?
Vacation offers necessary respite and rejuvenation, but it may come at the cost of impacting one’s annual salary. It is crucial to examine the effects of taking time off on one’s finances.
Paid vacation days are part of most employment contracts and would not result in a salary reduction. Conversely, for employees who must take unpaid vacation days, their annual salary may be affected.
For instance, an individual earning $60,000 annually would receive $2,307.60 bi-weekly. Should they opt for two weeks of unpaid vacation, it would reduce their annual earnings by the same amount. Furthermore, being absent from work may result in missed opportunities for raises or promotions.
Therefore, the importance of considering how vacation impacts one’s annual salary cannot be understated. A balance between taking time off and focusing on career growth should be achieved to ensure financial stability.
Notice
Please note that the salary examples provided are only meant to give you a general idea. Your actual salary will depend on your additional skills, experience, qualifications, and the number of hours you plan to work.
How Much Is $60 000 a Year After Taxes?
Tax implications on a $60,000 salary should be considered thoughtfully, and the actual take-home pay depends on various factors, including your residence. Here, we provide general calculations for residents of tax-free states (for, e.g., Florida) and states with taxes (for, e.g., New York).
For an individual living in Florida, the tax breakdown is as follows:
Annual pre-tax income:
$60,000
Deductions:
$5,968 federal income tax $3,300 FICA taxes
After-tax take-home income:
$50,732
On the other hand, a New York resident’s tax obligations would be:
Annual pre-tax income:
$60,000
Deductions:
$5,968 federal income tax, $3,300 FICA taxes $2,864 New York state tax
After-tax take-home income:
$47,868
Notice the significant difference in after-tax income due to state taxes. It’s essential to bear this in mind when calculating the final earnings from your annual salary.
State By State $60,000 a Year Salary After Taxes in 2023
Just like the federal government, each state and territory has its own tax brackets that are calculated in a similar way.
However, since each state or territory can establish its own marginal tax rates and laws regarding taxable items, the amount of taxes you pay on a $60,000 salary may differ depending on where you live. The following table shows your after-tax salary for the 2023 tax year on a $60,000 salary:
State
Average Income
Alabama
$46,607.00
Alaska
$49,442.00
Arizona
$48,061.71
Arkansas
$46,263.80
California
$47,483.87
Colorado
$47,301.23
Connecticut
$46,592.00
Delaware
$46,678.88
District of Columbia
$46,783.75
Florida
$50,732.00
Georgia
$46,429.00
Hawaii
$45,419.90
Idaho
$46,841.29
Illinois
$46,472.00
Indiana
$47,504.00
Iowa
$46,378.56
Kansas
$46,679.00
Kentucky
$46,580.50
Louisiana
$47,473.25
Maine
$46,484.63
Maryland
$46,756.13
Massachusetts
$46,442.00
Michigan
$46,892.00
Minnesota
$46,646.36
Mississippi
$46,857.00
Missouri
$47,090.06
Montana
$46,289.03
Nebraska
$46,792.90
Nevada
$49,442.00
New Hampshire
$49,442.00
New Jersey
$47,619.50
New Mexico
$47,416.05
New York
$47,868.09
North Carolina
$47,084.23
North Dakota
$48,863.12
Ohio
$48,401.64
Oklahoma
$47,082.13
Oregon
$44,660.75
Pennsylvania
$47,600.00
Rhode Island
$47,540.75
South Carolina
$46,693.40
South Dakota
$49,442.00
Tennessee
$49,442.00
Texas
$49,442.00
Utah
$46,510.46
Vermont
$47,231.98
Virginia
$46,508.25
Washington
$49,442.00
West Virginia
$46,667.00
Wisconsin
$47,194.39
Wyoming
$49,442.00
Source: Worlds Salaries
What Types of Jobs Pay $60,000 Per Year?
There are a variety of jobs that pay $60,000 per Year. Here are some examples:
Cargo pilot
Makeup artist
Real estate agent
Dental hygienist
Instrument technician
Insurance agent
Power plant operator
HVAC supervisor
Yoga Instructor
Nuclear medicine technologist
Railroad conductor
Web developer
Sales representative
Claims adjuster
Electrical foreman
Truck driver
Boilermaker
Occupational therapy assistant
MRI technician
Solar installer
Aircraft Mechanic
Physical therapist assistant
Radiation therapist
Nuclear technician
Owner-operator driver
There are numerous job opportunities available that offer an annual salary of $60,000, as shown in the provided list. You have several options to choose from if you desire a salary of this amount. However, note that the list is not exhaustive but gives a fair indication of the job positions that provide this salary.
How To Budget $60,000 a Year?
Cut Unnecessary Monthly Expenses
Regardless of an individual’s yearly income, living within one’s means should be a priority. Analyzing and adjusting budgets is an effective way to achieve this goal. Identifying and eliminating non-essential expenses can help allocate funds toward debt reduction or savings.
Potential areas for adjustments include:
Gym memberships
Entertainment expenses
Subscription services (magazines, music, etc.)
Frequency of dining out
Cable TV subscriptions
Clothing purchases
Travel expenditures
There could be more that can be reduced or eliminated to ensure proper budgeting of $60,000 a year.
Save for Retirement Early
The earliest you start saving for retirement, the better. Consider starting an IRA or contributing to a 401(k), especially while your income is still relatively high and you can benefit from the employer match. If your employer offers a 401(k) plan, setting aside just 10% of your annual salary (or $6,000 if you make $60,000 a year) can go a long way toward reaching retirement goals.
Avoid High Car Payments
Owning a set of wheels doesn’t have to equate to draining your wallet. Did you know the average monthly loan payment for a new car in the U.S. is almost $600, which represents more than 10% of a $60,000 annual income?
Keep in mind this figure doesn’t even include insurance, fuel, or maintenance costs. Try out these savvy strategies to stay car payment-free:
Opt for a pre-owned vehicle
Select a smaller, more economical car
Purchase a used car with cash
Avoid Credit Card Debt
Using credit cards to fund your lifestyle is a common mistake that can easily lead to debt. A way to avoid credit card debt is by limiting your credit card usage to expenses that you can pay off fully every month. If you can’t afford to pay your credit card bill each month fully, it’s crucial to reassess your spending habits.
Sample Budget For Individuals Earning $60,000 Per Year
If you want to understand better living on a $60,000 salary, consider comparing it to your monthly expenses. As an example, here’s a budget for someone earning $60k per year, which may be helpful.
Category
Monthly Amount
House Rent
$2,200
Utilities (electricity, water, etc.)
$200
Internet/Cable
$100
Transportation
$300
Insurance (car, health, etc.)
$400
Groceries
$400
Dining Out
$200
Entertainment
$100
Clothing
$200
Personal Care
$200
Emergency Fund
$200
Retirement Savings
$500
Total
$5,000
Note: This budget prioritizes basic expenses and avoids debt.
Final Thoughts on a 60K a Year Salary
Yearly salaries can be quite the conversation starter. They’re different everywhere you go, and they’re unique to each individual and profession. A 60K salary might be considered modest in certain corners of the world, while in other places, it’s a pretty sweet deal.
Just imagine living in the bustling metropolis of New York City – you’d need almost twice that amount to make ends meet! But set foot in rural Mississippi, and you’ll find that life on a 60K income can be quite lavish. To live your best life on a $60,000 salary, you only need a bit of financial savvy:
Live beneath your means.
Keep an eye on your expenditures.
Always invest in yourself and your future.
So, what do you think – could you make it on 60K a year? Share your thoughts in the comments below.
Federal Reserve analysts have published a paper describing what they call the Twitter Financial Sentiment Index, or TFSI. The tool aims to gauge how investors and consumers feel by tracking social media posts about finances and credit markets. The Fed stresses that the document’s conclusions are tentative and preliminary.
A financial advisor can help you build a long-term investment plan.
What Is the Twitter Financial Sentiment Index?
The TFSI is a new tool in development by a group of economists at the Federal Reserve. While preliminary and, as the authors stress, still tentative, this tool measures investor sentiment and the consumer marketplace based on information gathered from social media posts.
The research is titled More than Words: Twitter Chatter and Financial Market Sentiment, written by Federal Reserve economists Travis Adams, Andrea Ajello, Diego Silva and Francisco Vazquez-Grande. It’s part of a discussion series run by the Federal Reserve in which economists explore new ideas, so this research doesn’t necessarily reflect the positions of the Federal Reserve or Board of Governors themselves.
In this case, the economists behind the TFSI wanted to explore whether “social media activity [can] carry any meaningful signal on credit and financial markets’ sentiment.” Essentially, when people post about the market online, does this accurately reflect their opinions? And furthermore, can economists pull any useful data from what is, effectively, a massive, real-time survey?
To answer that question, they turned to Twitter. The economists built a real-time sentiment index that pulled more than four million single tweets from 2007 to April 2023, searching specifically for posts that contained words and phrases pulled from financial and market dictionaries. So, for example, their system might flag a tweet with the phrase “bonds” or “assets” to include in the index.
Using a natural language processor, which is software that analyzes text for what the author intended to communicate, the index gives each tweet in its database a positive or negative flag depending on how the post talks about the market. Then, in aggregate, the index produces an overall current sentiment of the market. If most of the recent tweets are talking about the market confidently, the TFSI registers a positive sentiment. If lots of people are tweeting about selling or hoarding cash, the TFSI registers a negative sentiment.
The authors say that this binary approach of positive and negative works better than trying to assess how positive or negative a given tweet seems. Their goal isn’t to judge the strength of an individual poster’s emotions, but rather to judge the overall emotional state of the market at large. And, they say, it appears to work.
What Exactly Does the TFSI Measure?
Among other sources of data, economists rely heavily on surveys and price trends to make predictions and policy assessments. Surveys like the famous University of Michigan Consumer Sentiment Index gather data by directly asking people about their financial situation and choices. Price trends measure the current prices in a market and compare them to historic patterns to make predictions about what will happen next. In both cases, economists effectively look for massive amounts of data from which to pull trends.
The TFSI takes a similar approach. It is, in effect, an always-on survey, in which the authors look for patterns in how people talk about their finances and market issues. As with all matters related to social media, though, the question is whether this information is reliable. When people post on Twitter, does it reflect their true position? According to the economists involved, the answer is yes.
What the TFSI Reveals
“We find,” wrote the authors of the index, “that the Twitter Financial Sentiment Index (TFSI) correlates highly with corporate bond spreads and other price- and survey-based measures of financial conditions.”
The authors also state that they “document that overnight Twitter financial sentiment helps predict next day stock market returns. Most notably, we show that the index contains information that helps forecast changes in the U.S. monetary policy stance: a deterioration in Twitter financial sentiment the day ahead of an FOMC statement release predicts the size of restrictive monetary policy shocks. Finally, we document that sentiment worsens in response to an unexpected tightening of monetary policy.”
Among other correlations, they say, the TFSI has a few key uses.
First, it is quite adept at predicting next-day stock market returns. Strong real-time sentiment tends to correlate with gains in the next 24 hours, while a negative sentiment tends to precede losses. “This fact,” the authors write, “speaks to the ability of tweeted sentiment to reflect information that will later be included in stock prices once U.S. markets open.”
Second, and of more interest to economists, the TFSI “correlates highly with market-based measures of financial sentiment.” This includes indicators like bond and corporate bond spreads, as well as survey-based metrics like the Michigan sentiment index.
Potential Uses of the TFSI
This makes the new index a potentially useful tool for monetary policymaking. Based on how people discuss monetary policy and financial sentiment, the authors suggest that the TFSI can help “predict the size of restrictive monetary policy shocks.” In other words, it can “predict the market reaction around the FOMC statement release. We also find that the TFSI worsens in response to an unexpected tightening in the policy stance.”
Essentially, it can help the U.S. central bank measure how much the economy will slow down after it reduces the money supply (typically by raising interest rates).
Of course, there are limits to even the best tools. The TFSI is a new metric, and as such its results are still preliminary. It remains to be seen whether this will remain a valuable tool, especially once social media posters can access the TFSI itself, which could create a sort of feedback loop where index results begins to influence the index’s underlying data.
And the TFSI is a linear tool. It can signal whether people feel good or bad about the market, and the strength of that general sentiment but doesn’t provide context or lateral details such as whether they feel good about some issues and negative about others.
Still, in its early applications, it looks like the TFSI might have found a use for social media after all.
Bottom Line
Federal Reserve analysts have developed a tool for gauging investor and market sentiment around the bank’s policies and pronouncements. Called the Twitter Financial Sentiment Index, it measures the economy by listening to millions of tweets. According to the paper, the tool “helps predict the size of restrictive monetary policy surprises, while it is uninformative on the size of easing shocks,” when the FOMC eases its federal funds rate.
Investing Tips
A financial advisor can help you build a comprehensive investing plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investors use a wide range of metrics and indices to make their decisions. Whether you’re buying assets that you’ll hold for years to come or looking to make a profit day trading, it’s worth familiarizing yourself with some of the most common, like the Consumer Price Index.
Eric Reed
Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.
If you have bipolar disorder, you may worry about your chances of getting a reasonable life insurance policy.
Life insurance with bipolar disorder may not be offered at the best rates in some cases, but you will likely not be turned down for insurance because of it.
Bipolar disorder is a common condition, affecting over 5.5 million Americans every year. Because it’s so prevalent in the U.S. there are a lot of insurance companies and agents that have experience working with applicants with the disorder. For anyone with bipolar disorder, it’s important to find one of these companies or agents. A more experienced agent can help you get the best rates, avoid getting rated for the more expensive high risk policies, and walk you through the process
We work with many of the top life insurance companies, such as Banner Life, and can help you get the quotes you need to make the best decision for your needs.
Keeping Bipolar Under Control
There are a number of effective bipolar medications on the market right now. If you are on one and it is keeping your bipolar under control, you can still get a good rate on your life insurance. The dosage that you take and the specific medication will make a difference to some companies, but virtually all of them will approve someone who has bipolar with no other serious medical conditions.
How Does a Life Insurance Company View Bipolar?
When considering whether your condition is under control, insurance companies may look at how your bipolar disorder affects your life. If you are unable to work because of the condition, it may not be considered under control. If you are still searching for a medication that works best for you, the same may be true.
If you are living a normal life with a social life and a job, you can make the case that your condition is under control. Your offers of life insurance with bipolar disorder should reflect the stability of your health.
Getting Approved for Life Insurance with Bipolar is a Possibility
While in the past it was hard for anyone with bipolar disorder to get life insurance, the many medical treatments available today have made the condition much less of an insurance risk. Before you are offered life insurance with bipolar disorder, an insurance company may want to know if you have ever been hospitalized for the disorder and how long you’ve kept your condition under control.
It should be noted that if you were just diagnosed with the condition, it could be difficult to be accepted for life insurance. Companies will want to see a history of safe management and how well you will handle the bipolar diagnosis. If you’ve just been diagnosed and you don’t want to wait on a traditional policy, you can get a no-exam policy and get coverage immediately.
They may also want to know how diligent you are about taking your medications. If you take it as prescribed and have no complications from it, you can expect plenty of competitive insurance offers.
Getting the Lowest Rates with Bipolar Disorder
Always be honest with your life insurance agent. You can tell them about your condition, all of your medications, how often you take it, and the dosages. As long as your condition is well maintained, you’ll receive quotes that are comparative to those with bipolar disorder.
If you’re looking to get the lowest rates possible (and who isn’t?), it’s important to take any medications as often as prescribed. Sticking to the doctor’s orders is not only good for your health, but it’s also good for your wallet.
Because of the emotional strain and stress that bipolar disorder can bring, a lot of people diagnosed with the condition are also smokers. Smoking is not only terrible for your lungs, but can also break your bank account, especially when it comes to life insurance premiums for smokers.
Getting smoker rates for life insurance is going to double or even triple your monthly payments. One of the best things you can do to get lower rates and save money is to kick the bad habit of smoking. Before you apply for life insurance, it’s worth it to take several months or a year to quit smoking and enjoy your savings.
Another way to save money on your policy is to shop around with different companies. A lot of people make the mistake of going with the first company they get a quote from. Before you sign a policy and start paying the premiums, get quotes from several companies. More than likely, the first company that you contact isn’t going to have the lowest insurance rates. Instead of spending hours talking to different agents, let us do the work for you. Simply fill out the form and we will give you the best rates available.
What else impacts your life insurance rates?
Bipolar disorder isn’t the only thing that’s going to have an effect on your plan’s premiums. There are several factors that the life insurance company will look at to calculate your premiums. Things like age, weight, occupation, health, and several more.
With a traditional life insurance policy after you complete the initial paperwork, the company will send a nurse or paramedic to your house to complete a medical health exam. The results from the exam will reflect your overall health and have a huge impact on how much you pay for your policy.
At the health exam, the paramedic will go through family history, a medical questionnaire, and basic vitals like blood pressure. Additionally, they will also take a blood and urine sample.
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Life Insurance and Bipolar Disorder
If you’ve ever been told that you can’t get life insurance because of your disorder, such as Bipolar Disorder, ADHD, OCD, Autism or Aspergers, Cushings Syndrome this couldn’t be further from the truth. Even with bipolar disorder, you can get affordable life insurance coverage that you and your loved ones deserve.
Life insurance is one of the most important purchases that you can make. Don’t let your family be stuck with mountains of unpaid expenses if anything were to happen to you. Losing a loved one is difficult enough without having to worry about bills piling up.
MUMBAI, June 9 (Reuters) – India’s HDFC Bank Ltd (HDBK.NS) will keep home loans at the centre of its growth strategy after a merger with HDFC Ltd is concluded, with such credit likely to make up nearly a third of the bank’s portfolio going forward, two senior officials at the group said.
The pace of growth in home loans will broadly mirror growth seen in HDFC’s home loan portfolio, the first official said, declining to be identified as strategy discussions are not public.
Individual home loans have grown at a compounded annual rate of 16% over the last five years, according to its investor presentation.
The home loan segment is seen as a steady growth business with low delinquencies and has seen a boost since the pandemic.
While the share of portfolio will oscillate based on growth in other segments, the group is comfortable with it staying at current levels, the official said.
“We see home loans as a secured sticky product which can generate sticky deposits and spur lending into a number of home-related personal loan categories,” the official added.
The merger, announced in April last year and set to conclude in early July, will see India’s largest housing financier merge with the bank it parented in 1994 – now the country’s largest private lender.
Post the deal, HDFC’s 7.2 trillion rupee ($87.32 billion) portfolio will be transferred to the bank and make up about 30% of its overall loan book. This includes individual housing loans worth 6.02 trillion rupees.
The housing loan business will not function as a separate vertical, but HDFC’s front-line staff will continue to lead growth in that product, while expanding offerings to other retail loans as well, the second official said.
The first official added that credit decisions for home loans will roll into the bank’s broader credit department.
Reuters Graphics
RUSH OF DEALS
As part of the merger, HDFC’s subsidiaries will be transferred to the bank.
HDFC Bank, whose second-largest segment is its banking business, will raise its stake in the life insurance business from 48.7% to over 50%, and from 49.9% to over 50% in the general insurance segment.
Both transactions will be concluded before the merger and could happen via the open market or through bilateral deals, the officials said.
The Reserve Bank of India has also asked HDFC to sell a majority stake in its education loan arm Credila Financial Services, valued at close to $1.2 billion-1.5 billion, due to an overlap with the bank’s business.
While this transaction will not conclude before the merger, negotiations are at an advanced stage, the second person said.
HDB Financial, HDFC Bank’s non-bank lending arm, will continue as a separate entity and move towards a listing before 2025, the first official said.
Post the merger, foreign shareholding in the combined entity is seen at about 60%-62%, the first person said.
This could allow the bank to be added into the MSCI index for the first time since 2013, potentially bringing in foreign inflows into the bank.
($1 = 82.4510 Indian rupees)
Reporting by Ira Dugal and Siddhi Nayak; Editing by Sonia Cheema
Our Standards: The Thomson Reuters Trust Principles.
People inherit less than you might expect. In fact, most people think they’ll inherit far more than they really will.
If you do inherit money, it most likely won’t be subject to federal estate taxes. In 2023, those apply only to estates worth more than $12.92 million. But very few households have that level of wealth and most people inherit nothing at all. Here’s what the inheritance landscape looks like, according to the Federal Reserve’s most recent Survey of Consumer Finances from 2016 to 2019. If you need help with your estate plan or have received an inheritance, consider working with a financial advisor.
Why the Average Inheritance is Misleading
On average, American households inherit $46,200, according to the Federal Reserve data. But this figure is inflated by top-tier wealth and belies the fact that many households inherit no money at all.
Of those that do receive a bequest, most receive a small fraction of the average. The top 1% and 10% of households by wealth receive so much that their estates pull the average up. This creates the impression that many, if not most, households receive a comfortable nest egg. Very few actually do.
While less than a third of all households inherit any money, between 70% and 80% of households receive no inheritance at all.
Average Inheritance By Wealth Level
A consistent reality with inheritance is that almost all households who receive an inheritance expect more than they get. This may have to do with the prominence of estate taxes in the national debate, which creates the impression that inheritance and estates are a matter for ordinary Americans. Here’s a look at how much households with varying levels of wealth inherit.
Top 1%
Average inheritance: $719,000 Expected inheritance: $941,100
Measured by wealth, the top 1% of households receive overwhelmingly more than any other group measured. This is what causes such dramatically skewed data when it comes to measuring averages. This group receives more than four times as much as the next wealthiest cohort.
Next 9%
Average inheritance: $174,200 Expected inheritance: $266,600
The average inheritance for the remainder of the top 10% of households is significantly less than those at the very top but still considerable: $174,200. Then again, these households end up inheriting 35% less money than they expect to receive.
Next 40%
Average inheritance: $45,900 Expected inheritance: $60,100
On average, the next 40% of households receive an inheritance that’s closest to the national average. These households are also the most realistic in their expectations. All other cohorts expect vastly larger inheritances than they will receive. This swath of the population overestimates its inheritances by a relatively modest amount.
Bottom 50%
Average inheritance: $9,700 Expected inheritance: $29,400
A national average of $46,200 does nothing to communicate the fact that about half of all households who do receive an inheritance will get less than $10,000. In fact, this cohort expects to receive nearly three times what they will actually get.
The bottom half of households is the cohort that’s also least likely to receive any inheritance at all. With lower rates of college education and lower earnings, these households should not expect to share wealth among generations.
Do You Have to Pay Taxes on Inheritance?
Chances are that you won’t have to pay any taxes on money or property you inherit. In 2023, the federal estate tax only applies to estates that transfer more than $12.92 million to beneficiaries. Keep in mind that it’s the responsibility of the decedent estate’s to pay this tax, not the person or entity that receives an inheritance.
The tax is only applied to property that exceeds the $12.92 million threshold. So if an estate is worth $13 million, only $800,000 would be subject to the federal estate tax in 2023.
Some states also charge their own estate taxes on top of the federal levy. However, a few states also tax those who receive inheritances. These levies are known as inheritance taxes and the following states have them:
Kentucky
Maryland
Nebraska
New Jersey
Pennsylvania
Iowa*
* Iowa is phasing out its inheritance tax by 2025
Bottom Line
While the average inheritance is $46,200, only a small percentage of households end up actually inheriting money. For households that do receive inheritances, the size of those windfalls can vary greatly for those in the top 1% of households compared to those in the bottom half.
Estate Planning Tips
Many people want to make sure they leave something behind for the next generation. If that’s you, make sure to avoid these five common estate planning mistakes.
A financial advisor with estate planning expertise can help guide you through the sometimes complicated process of building an estate plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Eric Reed
Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.
Simple interest is the money earned after investing or depositing a principal amount, and compound interest refers to the interest accrued on that principal amount and the interest already earned. While interest is typically earned or accrued in a savings account, it can play a role in an investing portfolio, as certain types of investments (CDs, bonds) may involve interest payments, adding to overall investing returns. Note, though, that interest is different from investment returns.
Further, Albert Einstein is reputed to have said that compound interest is the eighth wonder of the world. It’s easy to see why. Continuous growth from an ever-growing base is the fundamental reason investing is so compelling a practice. Compounding has the potential to grow the value of an asset more quickly than simple interest. It can rapidly increase the amount of money you owe on some loans, since your interest grows on top of both your unpaid principal as well as previous interest charges.
What Is Simple Interest?
In basic terms, simple interest is the amount of money you are able to earn after you have initially invested a certain amount of money, referred to as the principal. Simple interest works by adding a percentage of the principal — the interest — to the principal, which increases the amount of your initial investment over time.
When you put money into an average savings account, chances are you are accruing a small amount of simple interest.
APY is the annual rate of return that accounts for compounding interest. APY assumes that the funds will be in the investment cycle for a year, hence the name “annual yield.” If your interest rate is low, you might be missing out on cash that could otherwise be in your pocket. And it may be worthwhile to look into other types of accounts that could earn you more interest.
Simple Interest Formula
Calculating interest is important for figuring out how much a loan will cost. Interest determines how much you have to pay back beyond the amount of money you borrowed.
The simple interest formula is I = Prt, where I = interest to be paid, r is the interest rate, and t is the time in years.
So if you’re taking out a $200 loan at a 10% rate over one year, then the interest due would be 200 x .1 x 1 = $20.
But let’s say you want to know the whole amount due, as that’s what you’re concerned about when taking out a loan. Then you would use a different version of the formula:
P + I = P(1 + rt)
Here, P + I is the principal of the loan and the interest, which is the total amount needed to pay back. So to figure that out you would calculate 200 x (1 + .1 x 1), which is 200 x (1 + .1), or 200 x 1.1, which equals $220.
Example of Simple Interest
For example, let’s say you were to put $1,000 into a savings account that earned an interest rate of 1%. At the end of a year, without adding or taking out any additional money, your savings would grow to $1,010.00.
In other words, multiplying the principal by the interest rate gives you a simple interest payment of $10. If you had a longer time frame, say five years, then you’d have $1,050.00.
Though these interest yields are nothing to scoff at, simple interest rates are often not the best way to grow wealth. Since simple interest is paid out as it is earned and isn’t integrated into your account’s interest-earning balance, it’s difficult to make headway. So each year you will continue to be paid interest, but only on your principal — not on the new amount after interest has been added.
What Is Compound Interest?
Most real-life examples of growth over time, especially in investing and saving, are more complex. In those cases, interest may be applied to the principal multiple times in a given year, and you might have the loan or investment for a number of years.
In this case, interest compounds, meaning that the amount of interest you gain is based on the principal plus all the interest that has accrued. This makes the math more complicated, but in that case the formula would be:
A = P x (1 + r/n)^(nt)
Where A is the final amount, P is the principal or starting amount, r is the interest rate, t is the number of time periods, and n is how many times compounding occurs in that time period.
Example of Compound Interest
So let’s take our original $200 loan at 10% interest but have it compound quarterly, or four times a year.
So we have:
200 x (1 + .1 / 4)^(4×1) 200 x (1 + .025)^4 200 x (1.025)^4 200 x 1.10381289062
The final amount is $220.76, which is modestly above the $220 we got using simple interest. But surely if we compounded more frequently we would get much more, right?
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More Examples of Compound Interest
Let’s look at two other examples: compounding 12 times a year and 265 times a year.
For monthly interest we would start at:
200 x (1 + .1/12)^(12×1) 200 x (1 + 0.0083)^12 200 x 1.00833^12 200 x 1.10471306744 220.94
If we were to compound monthly, or 12 times in the one year, the final amount would be $220.94, which is greater than the $220 that came from simple interest and the $220.76 that came from the compound interest every quarter. And both figures are pretty close to $221.03.
Notice how we get the biggest proportional jump from one of these interest compoundings to another when we go from simple interest to quarterly interest, compared to less than 20 cents when we triple the rate of interest to monthly.
But we only get 18 cents more by compounding monthly instead of quarterly, and then only 9 cents more by going from monthly to as many compoundings as theoretically possible.
What Is Continuous Compounding?
Continuous compounding calculates interest assuming compounding over an infinite number of periods — which is not possible, but the continuous compounding formula can tell you how much an amount can grow over time at a fixed rate of growth.
Continuous Compounding Formula
Here is the continuous compounding formula:
A = P x e^rt
A is the final amount of money that combines the initial amount and the interest P = principal, or the initial amount of money e = the mathematical constant e, equal for the purposes of the formula to 2.71828 r = the rate of interest (if it’s 10%, r = .1; if it’s 25%, r = .25, and so on) t = the number of years the compounding happens for, so either the term or length of the loan or the amount of time money is saved, with interest.
Example of Continuous Compounding
Let’s work with $200, gaining 10% interest over one year, and figure out how much money you would have at the end of that period.
Using the continuously compounding formula we get:
A = 200 x 2.71828^(.1 x 1) A = 200 x 2.71828^(.1) A = 200 x 1.10517084374 A = $221.03
In this hypothetical case, the interest accrued is $21.03, which is slightly more than 10% of $200, and shows how, over relatively short periods of time, continuously compounded interest does not lead to much greater gains than frequent, or even simple, interest.
To get the real gains, investments or savings must be held for substantially longer, like years. The rate matters as well. Higher rates substantially affect the amount of interest accrued as well as how frequently it’s compounded.
While this math is useful to do a few times to understand how continuous compounding works, it’s not always necessary. There are a variety of calculators online.
The Limits of Compound Interest
The reason simply jacking up the number of periods can’t result in substantially greater gains comes from the formula itself. Let’s go back to A = P x (1 + r/n)^(nt)
The frequency of compounding shows up twice. It is both the figure that the interest rate is divided by and the figure, combined with the time, that the factor that we multiply the starting amount is raised to.
So while making the exponent of a given number larger will make the resulting figure larger, at the same time the frequency of compounding will also make the number being raised to that greater power smaller.
What the continuous compounding formula shows you is the ultimate limit of compounding at a given rate of growth or interest rate. And compounding more and more frequently gets you fewer and fewer gains above simple interest. Ultimately a variety of factors besides frequency of compounding make a big difference in how much savings can grow.
The rate of growth or interest makes a big difference. Using our original compounding example, 15% interest compounded continuously would get you to $232.37, which is 16.19% greater than $200, compared to the just over 10% greater than $200 that continuous compounding at 10% gets you. Even if you had merely simple interest, 15% growth of $200 gets you to $230 in a year.
Interest and Investments
As noted previously, interest can play a role in an investment portfolio, but it’s important to note the distinction between investing returns and interest – they’re not the same. However, if an investor’s portfolio contains holdings in investment vehicles or assets such as certificates of deposit (CDs) or certain bonds, there may be interest payments in the mix, which can and likely will have an impact on overall investing returns.
It can be important to understand the distinction between returns and interest, but also know that there may be a relationship between the two within an investor’s portfolio.
The Takeaway
Simple interest is the money earned on a principal amount, and compound interest is interest earned on interest and the principal. Understanding the ways in which interest rates can work both for and against you is an important step in helping to secure your future financial stability. Interest is typically earned in a bank account, but it can also play a role in an investment portfolio, to some degree.
Interest is typically earned in a bank account, but it can also play a role in an investment portfolio, to some degree.
If you’re interested in investing and making your money work harder for you, then identifying interest types and finding ways to earn as much interest as possible could be the difference in thousands of dollars over the course of your life. The bottom line, though, is that the longer you invest, the more time you have to weather the ups and downs of the stock market, and the more time your earnings have to compound.
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Mortgage rates are holding steady today as financial market participants await some key inflation data on Wednesday and Thursday. If you’re looking to buy a home or refinance, let’s talk today about what your custom rate would be. Read on for more details.
Where are mortgage rates going?
Rates move sideways once again
Ever since mortgage rates moved higher at the end of February we’ve seen them stay in a relatively tight range.
Yes, there have been dips and jumps, but for the most part the national average on the 30-year fixed rate has stayed between 4.50%-4.55%.
The latter mark is where the 30-year sat in the most recent Freddie Mac Primary Mortgage Market Survey from last week.
Trying to think through where mortgage rates will go from here is somewhat of a futile task, as rates are extremely fickle and unforeseen events almost always poke their ugly head into the arena, ruining even the most well thought out projections.
However, all we can ever do is work with what we’re given and adjust along the way. It does seem as though the Fed is positioning themselves towards a more cautious rate hike path during the remainder of 2018.
Historically, we’re looking at a push out until the September meeting. That means another two Federal Open Market Committee meetings (June and August) before we see the nation’s benchmark interest rate, the federal funds rate, move up a quarter point to the new target range of 2.00%-2.25%.
Mortgage rates aren’t directly tied to the federal funds rate but the word out from the Fed certainly has an impact on the direction of the market. There will be numerous opportunities for the Fed over the coming months to either play up or walk back their next adjustment.
Those moments are when mortgage rates will be the most susceptible to a dip or spike.
Fedspeak from yesterday:
Richmond Fed President Tom Barkin
The emphasis for Barkin was on the minimal threat that raising interest rates has to the U.S. economy right now. He didn’t make any clear cut statements on how many hikes he wants to happen this year, but it’s likely he’s aiming for two or three.
Dallas Fed President Robert Kaplan
Taking a slightly different approach was Robert Kaplan, who said that there was no need to change the current path that the Fed is on. He’s still holding out for inflation data to pick up before altering the course.
Chicago Fed President Charles Evans
No news has broken yet about what Charles Evans said yesterday.
Rate/Float Recommendation
Locking now is likely the smart move
Mortgage rates are staying relatively flat today. It’s a slow day as far as economic data so this isn’t surprising. Right now, we still believe that locking in a rate sooner rather than later is the smart play. Given the current market environment, it seems more likely that rates will rise than fall.
Learn what you can do to get the best interest rate possible.
Today’s economic data:
NFIB Small Business Optimism Index
The NFIB hit a 104.8 in April.
JOLTS
The Job Openings and Labor Turnover Survey showed 6.550 million jobs added in March.
Notable events this week:
Monday:
Tuesday:
NFIB Small Business Optimism Index
JOLTS
Wednesday:
PPI-FD
10-Yr Note Auction
Fedspeak
Thursday:
Consumer Price Index
Jobless Claims
Bloomberg Consumer Comfort Index
Friday:
Fedspeak
Consumer Sentiment
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
Another week has come and gone. It was a fairly uneventful five days for the mortgage market with rates staying in a very tight range. If you’re looking to buy a home or refinance, we still believe you’re most likely going to be better off by locking in a rate soon. Read on for more details.
Where are mortgage rates going?
Rates continue to move sideways as we head into the weekend
There have been several weeks in 2018 where mortgage rates have bounced around all over the place. This has not been one of those weeks.
With no major economic reports getting released and relatively little happening on the political front, financial market participants were for the most part stuck in a holding pattern.
The yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, did briefly touch 3.00% on Wednesday but quickly retreated back down on Thursday after the Consumer Price Index reading came in below expectations.
It now sits close to where it started the week, at 2.96%. Mortgage rates typically move in the same direction as the 10-year yield, so rates remained mostly unchanged this week.
Looking ahead to next week we still have a fairly light economic calendar, but there are a few reports that investors will have their eye on. We’ll also continue to hear different takes from Fed officials on the path forward for the U.S. economy.
Rate/Float Recommendation
Locking now is likely the smart move
Mortgage rates barely moved this week. Any time they don’t rise is good news for anyone looking to buy or refinance.
Where do we go from here? It still seems as though rates are far more likely to rise in the coming weeks and months than fall.
Given this expectation, it stands to reason that most borrowers are going to get a better deal by taking action sooner rather than later.
Learn what you can do to get the best interest rate possible.
Today’s economic data:
Fedspeak
St. Louis Fed President James Bullard spoke this morning, commenting that the nation’s labor market is in an “appropriate situation that the Fed should not disturb.” He’s been championing a cautious rate hike approach in 2018 for a while now and the current data, he says, only reaffirms his position. Bullard is not a voting member of the FOMC this year.
Consumer Sentiment
Consumer sentiment hit 98.8 in May. That’s unchanged from the prior month’s final reading.
Notable events this week:
Monday:
Tuesday:
NFIB Small Business Optimism Index
JOLTS
Wednesday:
PPI-FD
10-Yr Note Auction
Fedspeak
Thursday:
Consumer Price Index
Jobless Claims
Bloomberg Consumer Comfort Index
Friday:
Fedspeak
Consumer Sentiment
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
Filed Under: general, homeowner-tips, how-to-2, real-estate
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Homebuyer.]
Loft’s accounting workflow software tracks real estate commissions and automates fees – allowing agents to spend more time selling and brokerages to spend less time digging through paperwork.
Its software integrates with a number of top real estate applications like Xero, Docusign, and others to help brokerages run automated, cohesive organizations.
See how Loft works:
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These integrations facilitate workflows and cutback on data entry by providing access to compliance information, payroll, and financial details – including a live view of profit & loss.
What we like: The ability to visualize your bottom well into the future should be a part of every brokerage owner’s strategic repertoire.
