Where To Live in San Antonio [Quiz]
Take this quiz to see which neighborhood to call home in the Alamo City.
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Take this quiz to see which neighborhood to call home in the Alamo City.
The post Where To Live in San Antonio [Quiz] appeared first on The Rent.com Blog : A Renterâs Guide for Tips & Advice.
With todayâs low interest rates, it takes planning to create sufficient retirement income without taking more risk than you need to. The days when you could get good income from a collection of Treasury bonds are long gone.
You can get income from dividend-paying stocks, bank accounts, bonds and bond funds, and several different types of annuities.
Each has pros and cons. Stocks that pay high dividends can yield a good amount of income, but stocks can be volatile. You can lose money, and if youâre retired, you may not be able to wait until the market recovers.Â
Guaranteed deposits, such as bank CDs and fixed-rate annuities, may pay less, but both the interest income and principal are assured (although in different ways).
Most retirees use a portfolio of products and strategies. By mixing and matching appropriately, you can produce income, counteract inflation and provide some liquidity that you might need for anything from medical expenses to a great vacation or giving money to kids or grandchildren.Â
The right mix is highly individual. Retirees with pensions that cover the bulk of their monthly expenses may be able to take more risk with their money. Others who donât have that cushion and canât afford to lose anything look to guaranteed strategies.
One type of guaranteed product is the fixed annuity. A very popular option today is the multiyear guaranteed annuity, or MYGA. Underwritten by a life insurance company, it acts much like a bank certificate of deposit (CD). You deposit a lump sum, called a single premium. You then receive a set interest rate for a set period.Â
Unlike bank deposits, fixed annuities are not FDIC-insured. However, there is a form of insurance provided by state guaranty associations in case the insurer becomes insolvent. Coverage varies by state.Â
Annuity interest is tax-deferred until withdrawn. If you receive income from an annuity before age 59½, youâll normally be hit with a 10% IRS penalty in addition to ordinary state and federal income tax. Â
Fixed annuity features vary. If youâll be relying on an annuity for income, make sure that the product youâre considering allows either monthly or annual interest withdrawals, depending on your needs and preferences.
While these products often allow withdrawals of up to 10% annually, they do levy penalties for taking excessive withdrawals before the guarantee period is over.Â
A big advantage of fixed-rate annuities is that they usually pay higher rates than other fixed-rate instruments, such as CDs and investment-grade bonds. As with CDs and bonds, youâll get a higher interest rate if youâre willing to tie up your money for a longer period.
But is it worth it? On the one hand, âgoing longâ will produce more current income. Some people are comfortable with that.Â
On the other, going short gives you flexibility. If interest rates improve in the interim, youâll be able to get a better rate once the guarantee period is over.
So, what makes the most sense? For people with enough money to spread among different annuities, I suggest laddering guarantee terms. Because no one knows for sure which direction interest rates are headed in the future, laddering makes the most sense. It gives you both good current income and future flexibility.
Whatâs the best laddering strategy? It depends on what the interest rate curve looks like at the time youâre creating the annuity ladder. If the curve is flattish, going mostly short would make sense. If itâs steep, you might want to commit more to longer terms.
Today, I recommend laddering annuities from three to five years. Hereâs why:Â
First, there is a significant interest-rate bump when comparing two- and three-year terms. For example, currently (January 2022), you can earn 2.00% on a two-year annuity from an insurer rated A- for financial strength by A.M. Best. Â
With a three-year MYGA, you can earn 2.50% from that same A- rated company. Thatâs 25% more interest. Unless youâll need all that money two years from now, itâs probably worth going for an additional year.Â
Three years from now, youâll be able to roll the proceeds tax-free, via a 1035 exchange, into any other annuity that looks most attractive then. Maybe rates will be higher.
While a four-year annuity is an option too, five years is a sweet spot. Even if youâre willing to tie up your money longer, you wonât get much more interest with a seven- or 10-year contract right now.
For instance, as of February 2022, if youâre willing to go with a B++ rated company, you can get 3.15% on a five-year contract with limited liquidity. Youâd get only a bit more, 3.20%, with the same insurerâs seven-year annuity.
If you prefer an A- or better rated company, you can earn 3.00% on a five-year annuity and 3.15% for seven years.
Besides being useful for nonqualified savings, fixed annuities also work well for IRAs. And the same laddering approach works.
Between the ages of 59½ and 72, you may take taxable interest withdrawals from a traditional IRA annuity, or you can let the interest compound and defer taxes. At 72, you must begin taking required minimum distributions (RMDs).Â
If youâre already taking RMDs or soon will be, look for an annuity that lets you take out your RMDs without penalty. Many issuers have that feature.Â
If you have all of your IRA in equities or even long-term bonds, you may be forced to make an untimely withdrawal when the stock or bond market is down. Whether you choose a three- or five-year or other term annuity, youâll be assured that youâll have the guaranteed withdrawals to pay your RMD.
Annuity expert Ken Nuss launched the AnnuityAdvantage website in 1999 to help people looking for their best options in principal-protected annuities. A free quote comparison service with interest rates from dozens of insurers is available at https://www.annuityadvantage.com or by calling (800) 239-0356.
Ever wonder how substitute teachers get those gigs? Thatâs what this mom of two does, and it lets her brings in a solid side income while going to school with her kids.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Take our quiz to see which Detroit neighborhood is right for you!
The post Where To Live in Detroit (Quiz) appeared first on The Rent.com Blog : A Renterâs Guide for Tips & Advice.
For lovers of classical music, there is nothing like the sound of a great symphony orchestra. Itâs amazing to see a finely tuned group of musicians bring together the many different tools of their craft, including brass, woodwinds, strings and percussion, for the purpose of creating music that moves and inspires. Playing each instrument on its own may be nice, but, when brought together to work in concert with each other, the sounds can be amazing!
You can make YOUR retirement AMAZING by thinking about your plan in the exact same way. Over the years, you may have created your wealth by being a diligent saver and deferring many of lifeâs pleasures. You may have accomplished this by using a wide array of investment and insurance tools, such as company 401(k)s, IRAs, brokerage accounts, real estate, life insurance, annuities, CDs, etc. Over time, you probably watched your net worth grow as the values of these tools individually each increased. However, as you prepare to cross that bridge into the retirement phase of life, you will be left to figure out how each of these âfinancial instrumentsâ should be played together, to create your own âRetirement Symphony.âÂ
Here are three steps I encourage you to take to get your concert started:
This can be one of the most important foundational things you can do as you prepare for this journey. Understand that if you created significant wealth throughout your career, you probably did so with an âAccumulationâ mindset, focusing the majority of your efforts on being a regular saver and strategic investor using a wide array of tools and products.Â
When you cross that bridge into retirement, however, your mindset should change from one of âAccumulationâ to one focused more on the âPreservation and Distributionâ of that wealth. Investment growth is still a part of the equation, given that retirement could last over 30 years.  However, you should expand your thoughts beyond just investment strategies to thoughts about strategies to address a combination of things, such as:
Itâs important to understand the capabilities of ALL your financial instruments and how you can maximize the positive things they were designed to do. For example, ask yourself what you want from each of your investment accounts going forward. Is your goal to just get a specific rate of return each year because it looks good in traditional retirement planning simulations, OR is the growth you seek for a specific purpose? Those purposes could be for such things as immersing yourself in all your recreational âbucket listâ adventures youâve been dreaming of or just growing a portion of your wealth enough to reach your legacy goals.
What about some of the insurance tools that you own? Do you understand how to maximize the capabilities of all the various annuities and life insurance policies you purchased over the years? Some examples for using these tools may include creating a lifetime stream of monthly income or having money that can be distributed tax free. In addition, these tools could also be an unknown way to pay for the cost of long-term care or provide the opportunity to leave a significant legacy to loved ones.
Whatever your desires are, understand how to maximize your financial instruments to create those sweet sounds.
With any award-winning symphony orchestra, the right conductor will certainly be the centerpiece to bring all these sounds together. Without them, perfection cannot be achieved. The same can apply to having the right person to be the âconductorâ of your retirement symphony.Â
If you have never worked with a financial adviser, the first thing you will need to determine is âwhenâ and âifâ you will relinquish the responsibility of your retirement plan design and oversight to someone else. For those who have grown their wealth on their own, this can be a difficult decision. However, ask yourself if you have the desire AND capacity to take on this responsibility as you get older. You may have enjoyed investing money and watching the market over the years, but are you ready to oversee the âPreservation and Distributionâ phase of life?Â
Once you have decided to hire a financial adviser, finding the right one is next. Because the financial services industry is filled with thousands of advisers, here are a few things to consider:
These are just a few of the many things to consider when determining who will be your conductor ⦠too many to list here!
Use these steps to begin creating your own sweet music and âRetirement Symphony.â
Dear Penny, I lent my parents about $21,000 about eight months ago, and another $11,000 about four months ago. The $21,000 was supposed to be âlong termâ to help my parents consolidate debt (about two years in my mind), and the $11,000 was supposed to be for one month. They’ve repaid $4,000, but nothing since [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
There are various in-demand jobs in 2022 as companies begin to fill empty roles. In 2021, several million Americans left their jobs voluntarily, also known as the "Great Resignation". These workers were burnt out, looking for better pay, or deciding to shift to a brand-new career. In fact, according to the Bureau of Labor Statistics, the quitting rate reached 2.9%, the highest since 2000. As a result, businesses and organizations are looking to hire hard-working individuals with impressive professional experiences and education. As a job seeker, you can find an available position in most industries, but especially in teaching, technology and health care. Here are the top in-demand jobs in 2022.
A highly in-demand job opportunity in 2022 is as a customer marketing manager. These positions are being filled through various industries, such as computer software, information technology and internet software. Customer marketing managers work between the marketing and sales departments to drive customer interactions. In fact, they work with both teams to develop and carry out different marketing activities that drive customer engagement — for example, putting on an awards program or a special event for dedicated consumers. Depending on where you find an available position, you could earn anywhere from around $90,000 to $155,000 annually.
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Another job opportunity in demand this year is a full stack software developer. Full stack developers are needed for every industry, including e-Commerce, health care, machine manufacturing and real estate. If you want to work in this field, you’ll need to know how to work with the latest development tools, such as a Cargo and Docker registry by JFrog. Using a Cargo registry, you can enable full control of your deployment and dependency resolution process. This way, you can benefit from a universal, enterprise-ready, and cloud-native solution. The salary range for this position varies greatly, but the median salary can be expected to be around $75,000.
Information security analysts are also an in-demand position for hiring companies. They are in high demand through various industries since businesses are increasingly focused on data privacy and company security. Responsibilities include designing and integrating efficient IT security systems and services to protect organizations. Additionally, information security analysts likely have to monitor complex computer networks to find any flaws, vulnerabilities or potential risks. As a result, those who work in this position should understand vulnerability solutions such as penetration testing, patch management and IDPS concepts. Information security analysts earn anywhere from about $78,000 to $133,000 a year.
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Of course, with companies hoping to expand their visability and revenue, online marketing research analysts are in high demand. These analysts are integrated within entrepreneur operations, start-ups and industries looking to create the next big thing. Responsibilities include market condition research and determining a product's chances of success. In fact, market research analysts need to know how to display data as charts and graphs to portray the market information that was found. For example, collecting product data such as who would buy a specific product and for how much would be a common topic for a presentation in this position. Find, apply and be hired as an analyst to earn a median salary of about $65,0000 a year.
Finally, product managers are highly sought after, especially as the economy recuperates from COVID-19. According to ADP, following the first wave of the pandemic, jobs such as admin support and company management positions have increased. In fact, the demand for these positions will continue to grow. Responsibilities as a product manager include developing certain business products —for example, creating and programming business' websites and applications. More so, this role manages a development team. Product managers collaborate with the development team to test software functionalities and follow through on the launch process. If hired as a product manager, you can earn a median salary of about $88,000 a year.
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There are hundreds of in demand jobs for 2022 as hiring trends shift upwards. Customer marketing managers are highly sought after in computer software, information technology, and digital industries for an annual average of about $122,000. Full stack software developers are required throughout all industries to create reliable and useable programs for an average of $75,000 a year. More so, information security analysts, who earn an average of $105,000 annually, are in high demand throughout various industries since they provide data protection and business privacy. Additionally, market research analysts are being vetted to assist in successful product market releases for around $65,000 annually. Finally, product managers are highly sought after to maintain website or app development processes and teams for around $88,000 a year.