Invest Archives - Page 26 of 513

Apache is functioning normally

April 27, 2024 by Brett Tams

Investors evaluating precious metals often ask: gold vs silver, which is better for investors? In this comparison, discover the investment merits of gold’s stability and silver’s industrial relevance, geared towards helping you decide which metal suits your financial strategy. Without leaning towards one or the other, this article presents a balanced view to inform your choice.

Key Takeaways

Gold and silver serve as a store of value and a hedge against inflation, with gold mainly being an investment asset while silver has significant industrial applications, impacting their price volatility and investment suitability.
Gold is revered as a safe haven asset, attracting investment during economic turmoil and serving as an inflation hedge, while silver’s dual role in industry and investment sectors offers growth potential and affordability.
Investors should consider precious metals within a diversified portfolio and can choose between physical metals, ETFs, or mining stocks, each with its own benefits and risks, and should evaluate after-inflation returns and personal financial goals to decide between gold and silver.

Gold and silver, the titans of precious metals, have long served as a reliable store of value and an effective inflation hedge. While gold primarily functions as an investment asset, offering potential for significant returns to those with larger capital, silver boasts an additional industrial role, broadening its appeal. However, investing in these precious metals isn’t as simple as stashing bars or coins in a safe. It involves dealing with price volatility and aligning your investment with long-term goals.

Adopting a buy-and-hold approach may serve investors best over the long term when investing in gold and silver. But why? It’s because the prices of these metals are shaped by a vast array of factors. Geopolitical issues, economic turmoil, and demands in the industrial sector all play a part in the daily dance of gold and silver prices. Understanding these factors can help you make informed decisions about when and how much to invest.

So why consider precious metals as part of your investment portfolio? They offer a unique combination of benefits:

Gold, with its reputation as a safe haven, attracts those looking for stability amidst market chaos
Silver, with its dual role in the industrial and investment sectors, offers an affordable entry point for investors with smaller capital
Both metals provide a robust way to diversify your portfolio and protect against inflation.

Understanding Gold’s Position as a Safe Haven Asset

Gold has long been a symbol of stability and security in the financial world. Its glittering history spans centuries, maintaining its value even in times of economic turmoil. It’s no wonder that in periods of global uncertainty or financial crises, investors often flock to gold, buoying its value and cementing its reputation as a safe haven.

One of gold’s most notable features is its role as an inflation hedge. As the cost of living increases, inflation hedge gold has shown a remarkable ability to preserve the real value of assets. This unique characteristic comes from how gold’s supply growth aligns with long-term global economic growth, helping to maintain its value during inflationary periods. This resilience, coupled with the tendency of investors to shift towards gold as a safe haven during inflation, can drive up its demand and price.

Given these factors, it’s clear why gold holds a revered place in the financial market. Whether you’re looking for a buffer against economic instability or an asset that can protect your buying power in the face of rising prices, gold stands firm as a reliable safe haven asset.

Silver’s Dual Role: Industrial Demand and Investment Segment

While gold may steal the spotlight for its luster and stability, silver plays a shining role of its own. Apart from being an investment asset, silver’s widespread industrial applications can drive up its price and enhance its investment appeal. In 2023, industrial applications reached a new record high, with photovoltaics usage increasing by a staggering 64%. China’s industrial demand for silver surged by 44% in the same year, predominantly driven by growth in green applications such as:

photovoltaics
solar panels
batteries
electronics
medical devices

These industrial applications highlight the versatility and value of both silver and silver bullion coins as an investment.

Due to its significant industrial use and affordable price point, silver is an accessible option for investors with smaller amounts of capital. However, the silver lining has a cloud. During economic downturns, silver’s industrial use can result in a drop in demand and a corresponding price drop. This volatility underscores the need for investors to consider their risk tolerance when investing in silver.

Despite its volatility, the forecast for silver demand in 2024 predicts a growth of 2%, with industrial production expected to achieve new records. This projected growth, along with silver’s role in portfolio diversification and potential for future price appreciation, suggests that silver’s investment appeal may shine brighter in the future.

Comparing Investment Strategies: Diversified Portfolio Inclusion

Including gold and silver in a diversified portfolio can enhance performance during market volatility and inflation. Financial advisors often suggest allocating 5-10% of an investment portfolio to commodities like gold and silver for diversification purposes. The logic is simple: gold offers diversification due to its historically low correlation with other financial assets such as stocks and bonds.

The inclusion of gold and silver, primarily an investment asset class, which unlike an asset produces cash flow, can act as an uncorrelated asset relative to equities, serving to diminish the total volatility of the portfolio.

Some benefits of including silver in your portfolio are:

Silver has significant industrial applications
It is positively correlated with periods of economic growth
Anticipated growth in areas such as renewable energy and artificial intelligence suggests an expanding demand for silver.

However, it’s crucial for investors to consider the following factors when determining the fit of precious metals within their investment strategies:

Potential costs for secure storage of precious metals
The speculative nature of precious metals
Due diligence and careful consideration of your financial circumstances

As with any investment decision, due diligence and careful consideration of your financial circumstances are key, including addressing portfolio risk management requirements.

While investing in physical precious metals has its appeal, precious metal mining stocks offer an intriguing alternative. Gold stocks provide a leveraged play that can outperform physical gold when prices rise, offering substantial potential for capital gains. The reason? Mining stocks do not just reflect the value of the precious metal. They also include the prospects of mining companies themselves.

Compared to physical gold, gold stocks offer several advantages:

They are more liquid and can be easily bought and sold.
They can provide additional income through dividends paid by established, profitable mining companies.
Investors can benefit from the expansion of mining operations and reap profits from significant new gold discoveries.

These advantages make gold stocks an enticing option for those looking to diversify their portfolio.

Moreover, by choosing gold mining stocks, investors can avoid the extra costs associated with the storage and security of physical gold. This can make gold stocks a more convenient and cost-effective alternative for investors who want exposure to gold without the logistical challenges of owning physical metal.

Physical Bullion vs. ETFs: Choosing Your Investment Vehicle

When considering precious metals as part of your investment strategy, it’s essential to explore all available options. Physical bullion and exchange-traded funds (ETFs) present two distinct investment vehicles, each with its own set of advantages and challenges. Gold ETFs, for instance, offer enhanced liquidity compared to physical gold, allowing investors to quickly buy and sell shares without facing the logistical challenges tied to physical transactions of gold.

Investing in gold ETFs can also be more cost-effective over time. Investors do not have to deal with the costs of purchasing and maintaining physical gold, and the responsibilities of securing and insuring the physical gold are professionally managed by the fund. However, it’s crucial to remember that the value of shares in gold ETFs may not track the price of gold precisely, as the fund’s expenses could slightly erode the value of these shares over time.

On the other hand, investing in physical gold comes with its own set of considerations. Apart from the allure of owning a tangible asset, investors must account for costs such as storage fees, insurance, and potentially higher dealer premiums over the market price. Additionally, purchasing physical gold requires vigilance due to the risks of scams, necessitating transactions with reputable dealers and possible appraisal costs, which add to the overall investment expense.

Evaluating After-Inflation Returns: Gold vs. Silver

When it comes to returns, it’s crucial to look beyond the nominal figures and consider the real value – the after-inflation returns. And in this regard, the performance of gold and silver may not be as glittering as one might expect. However, these precious metals have historically provided a hedge against inflation, offering returns that outpace inflation over certain periods. Here are some key points to consider:

Gold and silver can serve as a portfolio diversifier, helping to reduce risk.
Silver, due to its abundance, may have less upside potential compared to gold.
Both gold and silver have historically provided a hedge against inflation.

While the after-inflation returns of gold and silver may not always be stellar, considering past investment product performance, they can still play a valuable role in a well-diversified investment portfolio, remaining steady amid inflation uncertainties.

Gold tends to perform well during economic downturns and protections against inflation; studies confirm a positive correlation between the rising cost of living and the value of both precious metals. This ability to preserve wealth becomes particularly valuable during periods of high inflation, increasing their attractiveness as part of an investment strategy.

While the after-inflation returns for gold and silver may not be highly impressive when compared to other investments, rising inflation typically enhances their attractiveness as part of an investment strategy. This context underscores the importance of considering multiple factors – including inflation, market conditions, and personal financial goals – when evaluating the potential returns on your investment in gold and silver.

Making the Decision: Should You Buy Gold or Silver?

So, armed with all this knowledge, how do you decide between gold and silver? The answer isn’t one-size-fits-all. Investors should assess their individual financial circumstances and objectives when considering gold or silver investments, as the suitability can greatly vary depending on personal financial situations and goals.

The choice between gold or silver as a better investment option hinges largely on the individual’s risk tolerance and comfort with each investment strategy. It’s crucial to remember that while both precious metals can serve as hedges against inflation and economic downturns, they also present unique risks and opportunities. For instance, gold’s role as a safe haven asset may appeal to those seeking stability, while silver’s industrial applications and lower price point could attract investors looking for growth and affordability.

Before making the final call, it’s advisable to seek the guidance of a financial advisor to evaluate the appropriateness of gold or silver investments for your portfolio. Additionally, conducting independent research into gold and silver investment strategies can help you make a well-informed decision. Armed with knowledge and guided by your financial goals, you are well-equipped to make the golden (or silver) choice that’s right for you.

Summary

When it comes to precious metals, gold and silver stand as powerful contenders. Their unique characteristics offer distinct advantages for investors, making them an appealing inclusion in a diversified portfolio. Gold, with its safe-haven status, serves as a buffer against economic instability, while silver, with its industrial applications and affordable price, presents growth opportunities and accessibility to investors.

Ultimately, the decision to invest in gold, silver, precious metal mining stocks, or any other asset class should be guided by a thorough understanding of your financial goals, risk tolerance, and market conditions. It’s not about choosing the shiniest option, but the one that aligns best with your investment strategy and financial aspirations. So, whether you’re drawn to the allure of gold or the versatility of silver, remember – knowledge is the most precious asset of all.

Frequently Asked Questions

What factors influence the price of gold and silver?

The prices of gold and silver are influenced by various factors, including global economic stability, inflation rates, currency values, interest rates, and mining supply. Geopolitical events and investor sentiment can also cause significant price fluctuations.

Can I invest in gold and silver without owning physical metals?

Yes, investors can gain exposure to gold and silver without owning physical metals by investing in exchange-traded funds (ETFs), mining stocks, or mutual funds that focus on precious metals.

How does the industrial demand for silver affect its investment value?

The industrial demand for silver, particularly in technology and renewable energy sectors, can significantly affect its investment value. As demand for industrial applications rises, the price of silver may increase, potentially offering capital gains to investors.

What risks are associated with investing in precious metals?

Investing in precious metals carries risks such as market volatility, liquidity issues, and potential losses if prices decline. Additionally, physical metal investments may incur costs for storage and insurance.

Are there any tax considerations when investing in gold and silver?

Yes, there are tax considerations when investing in gold and silver. Capital gains on precious metals may be subject to taxation, and the tax treatment may differ depending on the investment vehicle (e.g., physical metals, ETFs, stocks). A tax professional can help you with this.

How do geopolitical events impact gold and silver prices?

Geopolitical events can have a significant impact on gold and silver prices. Uncertainty and instability often lead investors to seek safe-haven assets like gold, which can drive up prices. Conversely, positive geopolitical developments can reduce demand for safe havens, potentially lowering prices.

What is the best way to track the prices of gold and silver?

Investors can track the prices of gold and silver through financial news websites, commodity exchanges, and market data services. Many investment platforms also provide real-time pricing information for precious metals.

How do central bank policies affect gold and silver investments?

Central bank policies, such as interest rate adjustments and quantitative easing, can affect the value of currencies and influence investor sentiment towards precious metals. Policies that lead to currency devaluation can increase the attractiveness of gold and silver as a store of value.

Source: crediful.com

Apache is functioning normally

April 26, 2024 by Brett Tams

Living with family members can be both a comforting and challenging experience, especially when those family members happen to be siblings. As adults, the dynamics change, and considerations extend beyond just familial bonds. When siblings decide to live together and potentially invest jointly, a unique set of opportunities and obstacles arise. Let’s delve into the pros and cons of such an arrangement.

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Pros

Shared Financial Responsibilities: Pooling resources with siblings can ease the burden of financial responsibilities. Whether it’s splitting rent, utilities, or groceries, dividing costs can lead to significant savings for all parties involved.
Greater Purchasing Power: When siblings join forces to invest, they can leverage their combined financial resources to access opportunities that might be out of reach individually. This could include purchasing a larger property, investing in stocks, or starting a business together.
Built-In Support System: Living with siblings means having a built-in support system readily available. Whether it’s help with chores, emotional support during tough times, or simply having someone to share a meal with, the presence of siblings can provide a sense of comfort and security.
Shared Goals and Values: Siblings often share similar upbringings, values, and life goals, which can facilitate smoother decision-making processes when it comes to investments and lifestyle choices. Aligning on common objectives can lead to a more cohesive living and investing experience.
Potential for Long-Term Wealth Building: By combining resources and investing strategically, siblings can work towards building long-term wealth for themselves and future generations. Real estate investments, for example, can appreciate over time, providing a valuable asset for the family.

Cons

Conflict and Tension: Living with siblings can sometimes lead to conflicts over finances, household responsibilities, or personal space. Differing lifestyles and personalities may clash, potentially causing tension within the household and complicating investment decisions.
Dependency Issues: Dependence on siblings for financial support or decision-making can hinder individual autonomy and personal growth. It’s essential to strike a balance between mutual support and independence to avoid feelings of resentment or overreliance.
Risk of Financial Disputes: Entering into joint investments with siblings carries the risk of financial disputes and disagreements. Differences in risk tolerance, investment preferences, or future plans may lead to conflicts regarding asset management and distribution of profits.
Limited Privacy: Sharing a living space with siblings means sacrificing some level of privacy. While it can foster closeness and bonding, it may also restrict personal freedom and make it challenging to carve out individual spaces within the home.
Uncertain Future Dynamics: Life is unpredictable, and circumstances can change over time. Siblings may experience shifts in career paths, relationships, or financial situations that impact their living arrangements and investment plans. Anticipating and adapting to these changes requires open communication and flexibility.

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Apache is functioning normally

April 26, 2024 by Brett Tams

Welcoming a new addition to the family is an exciting and joyous occasion, and preparing a nursery is often one of the most anticipated tasks for expectant parents. The nursery is not just a room; it’s a sanctuary where your little one will spend countless hours sleeping, playing, and growing during their formative years. Curating the perfect nursery involves thoughtful consideration of both functionality and aesthetics. Check out these nursery decor ideas from experts to see curated recommendations.

Nursery decor: Tips and tricks to test out

“A nursery should spark calm,” Taylor Clarke, mom and founder of Amborella Organics seed-bearing lollipops. “We do this with earth-toned colors, living plants, and objects like a star-shaped plush that remind us how magical this time of life is.” As we dive into other expert opinions on curating the perfect nursery, Clarke reminds us to not forget the magic of this stage of life.

Establish your vision

Before diving into decorating, take some time to envision the atmosphere you want to create. Consider themes, color schemes, and overall ambiance. When it comes to a theme or color palette, Bowy Lou recommends choosing something that resonates with you. “Whether it’s a nature-inspired theme, a classic color scheme, or a whimsical motif, this will guide your choices in furniture, decorations, and textiles,” the Bowy Lou team recommends. “Additionally, if you’re looking to save money, you might be able to keep an eye out on online reselling platforms such as Facebook Marketplace or thrift shops to begin gathering or collecting items that meet your aesthetic.”

Choose a calming color palette and utilize natural materials

Selecting the right color palette sets the tone for the entire room. “Opt for soft, neutral hues like pastel blues, greens, creams, light grays, or gentle yellows to create a calming atmosphere conducive to relaxation, sleep, and independent play,” Karri Bowen-Poole, founder and CEO of Smart Playrooms and Project Playroom recommends.

Ashley Morrisey with Western Sky Photography recommends considering your preferences when selecting a color palette. “You may have heard there are colors that make a room bright or enhance specific feelings, so it would make sense to choose those that add to the calm, soothing environment you want,” Morrisey begins, “but, it’s equally as true that choosing colors you love will help make the room a space you’ll enjoy spending lots of time in with your baby, and let’s be honest, you’ve got a lot of future diaper changes, feedings, play times, and bedtimes in this room.”

Embrace nature-inspired elements as well, to bring an element of texture to the room. “Incorporating furniture and decor made from natural materials like wood and cotton will evoke a sense of warmth and comfort while also minimizing exposure to harsh chemicals,” Bowen-Poole suggests. Consider adding potted plants or a small indoor garden to purify the air and further create a calming, nature-inspired environment.

Frankie Wallace, owner of LoveFrankieArt.com, echoes the importance of a balance between colors and natural elements. “Opt for soft, neutral colors such as taupe or soft grey, and choose patterns that are subtle and gentle, like small polka dots, stripes, or delicate floral prints. These create a serene atmosphere without overwhelming your baby’s delicate senses, and are also calming for parents too,” Wallace notes. “Nature-inspired accents like potted plants, botanical prints, or nature-themed wall decals are also great to incorporate. Nature has a calming effect and can help create a peaceful atmosphere in the nursery.”

Invest in quality furniture

Key furniture pieces like a crib, changing table, and storage units are essential for a functional nursery. “Incorporating vintage or heirloom pieces such as a solid wood dresser passed down from a relative, or one with a marble top discovered at an antique shop will have lasting design power over many store-bought dressers,” Darcy Oliver, founder of Darcy Oliver Design recommends. “The dresser can also act as a changing station for your baby, so be mindful of a size that could accommodate a changing pad.”

Convertible furniture, such as cribs that transform into toddler beds, offers long-term value and versatility. “Searching for the perfect crib may seem like a daunting task, but I recommend buying this item new or fairly new for safety reasons,” Oliver recommends.

Prioritize safety

Safety should be a top priority when designing a nursery. Ensure that furniture meets safety standards, anchor heavy items to the wall to prevent tipping, and eliminate any potential hazards such as loose cords or small objects that could pose a choking risk.

A comfortable crib mattress and soft, breathable bedding are essential for promoting safe and restful sleep. Choose bedding made from organic materials and avoid heavy blankets or pillows, as they can increase the risk of Sudden Infant Death Syndrome (SIDS).

Add personal touches

Infuse the nursery with personal touches that reflect your style and values, like name-centric decor. Name decor is also an easy way to make the room feel personalized. “Monogramming the space above your baby’s bed is a popular design concept. The monogram makes their room even more personalized and their own,” Sara from Lizz and Roo notes. “Similar to a monogram, framing their name above their bed is a great personalization to have for them to make their room their own.”

“I remember when my son was about to be born – all of a sudden I wanted to clean and organize my house and create the perfect nursery. I posted this random information on Facebook, and immediately a consensus was formed: I was “nesting,” Crystal Waddell, president of Collage and Wood shares.

“Over the years, as my company has grown, we serve mothers all over the world who want to personalize the walls for their new baby. And when I say I get it, you now know, I totally get it. Think custom lettering, themed wooden cutouts, or your baby’s name in a giant script font, these items create that perfect personalized space for your baby and help you meet your nesting needs.”

Consider sensory stimulation

Stimulate your baby’s senses with visually engaging elements like mobiles, wall decals, and textured rugs. Soft lighting, such as dimmable lamps or string lights, creates a cozy atmosphere conducive to relaxation.

Leave room to grow

Remember that your baby will grow quickly, and their needs will evolve over time. “If the nursery will eventually morph into your child’s room, having the flexibility to change the room into the next stage is key,” Sandra Gordon, owner of Baby Products Mom, notes. “That next stage could be in a year or so when your baby-turned-toddler-turned-preschooler starts to have an opinion. Ideally, for a convertible nursery, you should be able to lift anything babyish, such as artwork, out of the room.
In other words, keep babyish items off permanent surfaces, such as pink or blue walls or carpets. But if the room will be a dedicated nursery for years to come (for your next babies), go ahead and baby-ify all you want.”

Fariha Nasir, with Pennies for a Fortune, echoes the sentiment of keeping the future in mind. “Focus on sourcing high-quality pieces that will grow with the child. Same with seating – furniture that’s marketed as nursery furniture like rockers and gliders isn’t always great quality. Getting a stylish yet comfortable armchair with a separate ottoman will provide the same comfort and functionality,” Nasir shares. “That nursing chair can later be part of a reading corner for the room in the future.”

Incorporate functionality into your nursery decor

Babies come with a lot of stuff, from diapers and clothes to toys and books. Maximize storage space with bins, baskets, shelves, and closets to keep essentials organized and easily accessible. “In small spaces, floor space is a precious commodity so get things off the floor wherever you can,” Lisa Janvrin, with Janvrin and Co, suggests. “This means installing storage and lighting on the walls. There are tons of options for floating bookshelves, side tables, and plug-in wall sconces that are adorable and functional.”

In terms of nap and nighttime routines, nightlights or dimmers can also help create a soothing atmosphere when darkness is important, Kristeen Waddell notes. “Lack of lighting is everything. Invest in blackout curtains to regulate light and promote better sleep, especially during daytime naps. However, you will want a nice overhead light for play, too,” Waddell shares.

Choose soft flooring options

Opt for soft flooring materials like carpet or area rugs to provide a comfortable and safe surface for your baby to crawl and play. “A soft rug is a must-have for tummy time and a cozy place for baby to explore the world,” Caitlin De Lay notes. “Functional pieces will grow with your child and create a calming space to bring the baby home; plus, they can all double as design accents.” Choose rugs with low pile or natural fibers that are easy to clean and hypoallergenic to minimize the risk of allergies.

Design a nursing nook

“There needs to be comfortable seating for nursing a baby, with a footstool,” Medina King, creative director of MK Kids Interiors says. “This could be in the form of a stylish rocker or a comfortable armchair with a pouffe. Parents will spend a lot of time nursing and comforting babies in the early days of their lives, so it’s important to design it around the needs and comfort of the family and parents taking care of the baby.”

Lucy Bowman, with LucyJoHome.com, agrees, noting the importance of paying the nursery proper attention. “Nurseries are a place of rest and sweet memories and deserve attention,” Bowman shares. “The perfect nursery will have a comfortable and beautiful chair for parent and child to bond.”

Don’t be afraid to get creative with nursery decor ideas

Photographer, Kristal Bean, recommends adding an accent wall for a creative touch. “You’re not limited to just a different color for an accent wall — there are endless gorgeous wallpaper and large wall decal options, too,” Bean shares. “This is a simple way to customize the nursery, and you can probably get it done over a weekend. If you’ve already fallen in love with the wall color in your baby’s room, but you’re dying to add a little something extra to the space, wallpaper on the ceiling is an unforgettable touch.”

Savanna Nave, owner of SavannaBrooke.com, reminds to not forget flair and interest. “Add interest and character by either using wallpaper, a wall treatment (board & batten), patterned curtains, or a statement rug. All of these areas are a great way to incorporate color and a fun pattern,” Nave suggests. “When adding flair, stick to your style while also making the room baby-friendly and functional. If your style is boho, incorporate some of those features into the room.”

Consider soundproofing as part of your nursery decor

Minimize disruptions and create a peaceful environment for both you and your baby by soundproofing the nursery. Install heavy curtains or sound-absorbing panels to dampen outside noise, and consider using a white noise machine to mask any sudden sounds that could disturb your baby’s sleep.

Crafting a sanctuary for you and your little one

“As the parent, you will be spending a lot of time in that room with your baby”, Nina Spears, co-founder and editor-in-chief of baby chick, explains. “In the nursery, there needs to be a designated space for the baby to sleep, to feed, and to be changed. But, make a space in the room where you can rest with the baby and enjoy, too. This room should be a space that you love, it brings you joy and makes you feel calm. Your baby won’t care what it looks like, so make it functional and comfortable for you too.”

Curating and creating the perfect nursery is a labor of love that involves careful planning, creativity, and attention to detail. By following these guidelines and infusing your unique style and personality into the design, you can create a serene sanctuary where your little one can thrive and flourish. After all, there’s nothing more rewarding than seeing your baby surrounded by a space that is as beautiful and nurturing as they are.

Source: rent.com

Apache is functioning normally

April 25, 2024 by Brett Tams

Source: Contentful’s Generative AI Professional Usage and Perception Survey “Gen AI is here to stay. It has the power to radically transform how we work together across teams and departments,” said Karthik Rau, CEO of Contentful, in a statement. “By fostering a culture of knowledge and responsible usage, organisations can empower their workforce to harness … [Read more…]

Apache is functioning normally

April 25, 2024 by Brett Tams

Best Budget-Friendly Luxury Furniture Brand

TOV

Best Budget-Friendly Luxury Furniture Brand

TOV

Price range: $

Known for: Contemporary furniture, reasonable prices

Luxury furniture does not always have to denote a high price point. This family-owned brand created a line of contemporary furniture that was created to stand the test of time. Spanning several design styles, TOV is a one-stop shop for wallet-friendly furniture.

Best Durable Furniture

Sundays Company

Best Durable Furniture

Sundays Company

Price range: $$

Known for: Seating, modern bedding

Sundays is committed to making durable pieces, which can withstand both wear and tear, and the ever-changing trending market. The result is that they have made some of the most comfortable, solution-oriented furniture. While many of their pieces are modern and neutral, they often have a hidden feature, whether that’s extra storage, a fold-out bed, or just truly comfortable seating.

Best Retro-Inspired Furniture Store

Soho Home

Best Retro-Inspired Furniture Store

Soho Home

Price range: $$$

Known for: Retro-inspired design

Soho Home has created a collection of high-end design, that is so intricate and special that its rarely seen in contemporary furniture. An offshoot of Soho House, the members-only clubs scattered across the globe, this furniture brand came about to satisfy their members who wanted to recreate the interior of the homes. The end result is a collection that is luxurious and opulent.

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Best Trendless Furniture Brand

Casterly

Best Trendless Furniture Brand

Casterly

Price range: $

Known for: Contemporary design, high-quality pieces

Tired of endless middlemen and fast-changing furniture trends, the minds behind Casterly decided to create a brand that they would oversee entirely, from production to shipping. With a mix of styles and genres to choose from, Casterly created luxury furniture with reasonable prices, that can withstand trends,

Best Craft-Focused Furniture Brand

Maiden Home

Best Craft-Focused Furniture Brand

Maiden Home

Price range: $$$

Known for: High-quality material

At Maiden Home, every material is hand-chosen for not just its beauty, but for its durability. Every piece of furniture is carefully thought through, and sometimes special artisans must be employed to create never-before-seen materials. Handmade in North Carolina, this brand is keeping heritage and craft alive in their work.

Best Cottagecore Furniture Brand

ABC Carpet & Home

Best Cottagecore Furniture Brand

ABC Carpet & Home

Price range: $$$

Known for: Modern design, luxurious rugs

ABC Carpet & Home is a New York City landmark, known for their rich offerings across luxury rugs and furniture. With an eye both on modern design and on antique shapes, they stock some of the most eye-catching designs on the market. Many of their pieces stray away from minimalism, instead leaning towards the English country style.

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Best Maximalist Furniture

Anthropologie

Best Maximalist Furniture

Anthropologie

Price range: $$

Known for: Patterned, maximalist furniture

Anthropologie is known for their fashion, but their furniture and home decor is some of the most unique on the market. For anyone who wants their home to feel one-of-a-kind and bold, Anthropologie does not shy away from incorporating colors, patterns, or ornate design.

Best Timeless Luxury Furniture Brand

Knoll

Best Timeless Luxury Furniture Brand

Knoll

Price range: $$$

Known for: Bauhaus design

For more than 80 years, husband-and-wife duo Hans and Florence Knoll’s brand has remained committed to Bauhaus designs. Many of the brand’s designs are now replicated by other labels, but the originals continue to reign supreme. With a true eye for modern design, Knoll’s office and dining furniture lines contain some of the brand’s most iconic pieces, like the oft-reproduced Saarinen Dining Table and Barcelona Chair.

Best Modern Luxury Furniture Brand

Eternity Modern

Best Modern Luxury Furniture Brand

Eternity Modern

Price range: $$$

Known for: Modern design, iconic pieces

This online furniture retailer stocks up on some of the most iconic and sought-after designs from throughout history. From Mario Bellini sofas to Le Corbusier daybeds, Eternity Modern makes it easy to source, purchase, and own insiders’ favorite luxury furniture.

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Best Secondhand Luxury Furniture Seller

Chairish

Best Secondhand Luxury Furniture Seller

Chairish

Price range: $$

Known for: Vintage and pre-owned furniture

Chairish makes it easy to shop and sell furniture from truly genius designers, from George Nakashima wooden chairs to the forever-loved Eames lounge chair. Along with vintage items, you can also find contemporary designers sold secondhand at Chairish as well, discovering huge discounts and rare pieces.

Best Danish Luxury Furniture Brand

Audo

Best Danish Luxury Furniture Brand

Audo

Price range: $$

Known for: Scandinavian design

Audo is a Danish furniture brand that embraces its homeland’s eye for minimalist design with a focus on quality materials. The brand brought together several designers and Danish studios to create its furniture and home accessories, from the sheepskin lounge chairs to the stunning wall decor.

Most Customer-Friendly Luxury Furniture Seller

Design Within Reach

Most Customer-Friendly Luxury Furniture Seller

Design Within Reach

Price range: $$

Known for: Luxury furniture, iconic designs

Design Within Reach is the go-to online retailer for luxury furniture. Founded with the intention of bringing online iconic designs that were previously available only in hidden showrooms, Design Within Reach’s collaborations with designers and brands often involve revered interior-design pieces, like the Eames chair.

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Best Classic Luxury Furniture Brand

Roche Bobois

Best Classic Luxury Furniture Brand

Roche Bobois

Price range: $$$

Known for: Made-to-order furniture

With over 200 showrooms across the world, Roche Bobois is a familiar name to luxury furniture lovers. The company sells a wide array of made-to-order furniture and home designs. Across living, bedroom, and office spaces, pieces are so well made, you’ll own them forever. Roche Bobois also believes in full service, offering interior design consultations to help you find the perfect pieces for your home.

Best Art Deco Furniture Brand

Modani

Best Art Deco Furniture Brand

Modani

Price range: $

Known for: Art deco, mid-century modern furniture

Modani was founded by three design lovers who wanted to create an easier way to shop for contemporary luxury furniture. Inspired by art deco style and midcentury modern designs, Modani’s pieces feature angular shapes and minimal ornamentation.

Best Minimal Luxury Furniture Brand

Kartell

Best Minimal Luxury Furniture Brand

Kartell

Price range: $$$

Known for: Environmentally-friendly design

Milan, Italy–based Kartell creates luxury furniture while focusing on minimizing the impact to the environment. The brand’s method? Using innovative materials, such as recycled upholstery and chairs made of coffee waste.

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Best One-of-a-Kind Luxury Furniture Retailer

1st Dibs

Best One-of-a-Kind Luxury Furniture Retailer

1st Dibs

Price range: $$

Known for: Vintage and pre-owned furniture and decor

Shopping for vintage furniture? 1st Dibs is an online retailer that stocks some of the most well-known designs. From the beloved Egg Chair to Victorian dining tables, you can hunt to find a piece that no one else will own. While you’re at it, check out their jewelry and fashion, too.

Best Budget-Friendly Luxury Furniture Brand

CB2

Best Budget-Friendly Luxury Furniture Brand

CB2

Price range: $$

Known for: Trendy design pieces

The luxury little sister to Crate & Barrel, CB2 offers timeless design and quality, without the enormous price tags other brands have. You can often find great deals on piece that create a calm and cool environment for your home without breaking the bank (or skimping on quality).

Best Contemporary Luxury Furniture Brand

Blu Dot

Best Contemporary Luxury Furniture Brand

Blu Dot

Price range: $$

Known for: Modern furniture

Blu Dot is the brand to shop for contemporary, modern furniture designed for color and comfort. The label focuses on classics like cozy sectionals and back-supporting desk chairs, rather than trends; all furniture is designed in-house, emphasizing usability and durability.

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Best British Luxury Furniture Brand

Flash Table Circle Brass

Best British Luxury Furniture Brand

Flash Table Circle Brass

Price range: $$$

Known for: British design

Tom Dixon’s furniture is all about honoring its British roots—the pieces adapt Victorian designs, and Dixon was even awarded an OBE by the late Queen Elizabeth. The brand exclusively sells angular tables and chairs, alongside lighting and home accessories.

Best Trendy Luxury Furniture Brand

Rove Concepts

Best Trendy Luxury Furniture Brand

Rove Concepts

Price range: $$$

Known for: Sustainable, trendy design

For Rove Concepts’ furniture, no detail is too small. A focus on sustainability, innovative materials, and funky design makes it a go-to shop for anyone who wants to invest in their home’s aesthetic. From midcentury modern pieces to bulbous sofas, Rove Concepts makes it easy to shop any home decor style in one place.

Tatjana Freund is Hearst’s Fashion & Luxury Commerce Editor, covering beauty, fashion and more across multiple brands. Previously, she worked at ELLE.com and Marie Claire. She’s a fan of whiskey neat, podcasts that give her nightmares, and one time Zoë Kravitz laughed at a joke she made.

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Source: harpersbazaar.com

Apache is functioning normally

April 24, 2024 by Brett Tams

Real estate investments make money through appreciation and rental income. Real estate can diversify a portfolio and act as a hedge against inflation, since landlords can pass rising costs to tenants. But the down payment on multifamily investment properties? At least 20%, or 25% to get a better rate.

It’s true that eligible borrowers may use a 0% down U.S. Department of Veterans Affairs (VA) loan for a property with up to four units as long as they live there. But those loans serve a relative few and are considered residential financing. Properties with more than four units are considered commercial.

So how can a cash-poor but curiosity-rich person tap the potential of multifamily properties? By not footing the entire bill themselves.

Can You Buy a Multifamily Property With No Money?

When you buy real estate, you typically have two options: Buy with cash or finance your purchase with a mortgage loan.

There are various types of mortgages. If you take out a home loan, you’ll likely need to pay a portion of the purchase price in cash in the form of a down payment. The minimum down payment you make will depend on the type of mortgage you choose — the average down payment on a house is well under 20% — and it will help determine what terms and interest rates you’ll be offered by lenders.

This money needs to come from somewhere, but it doesn’t necessarily need to come from your own savings account. When investors buy multifamily properties with “no money down,” it just means they are using little to no personal money to cover the upfront costs.

If you don’t have much cash of your own, there are several ways that you can fund the purchase of a multifamily investment property.
💡 Quick Tip: Jumbo mortgage loans are the answer for borrowers who need to borrow more than the conforming loan limit values set by the Federal Housing Finance Agency ($766,550 in most places, or $1,149,825 in many high-cost areas). If you have your eye on a pricier property, a jumbo loan could be a good solution.

6 Ways to Pay for a Multifamily Property

Find a Co-Borrower

If you don’t have the money to front the costs of a property yourself, you may be able to partner with a family member, friend, or business partner. They may have the money to cover the down payment, and you might pull your weight by researching properties or managing them.

When you co-borrow with someone, you’ll each be responsible for the monthly mortgage payments. You’ll also share profits in the form of rents or capital gains if you sell the property.

Give an Equity Share

You may give an equity investor a share in the property to cover the down payment. Say a multifamily property costs $750,000, and you need a 20% down payment. An equity investor could give you $150,000 in exchange for 20% of the monthly rental income and 20% of the profit when the property is sold.

Borrow From a Hard Money Lender

Hard money loans are offered by private lenders or investors, not banks. The mortgage underwriting process tends to be less strict than that of traditional mortgages. Depending on the property you want to buy, no down payment may be required.

These loans (also called bridge loans) have high interest rates and short terms — one to three years is typical — with interest-only payments the norm. For this reason, they may be used by investors who may be looking to flip the property in short order, allowing them to make a profit and pay off the loan quickly.

First-time homebuyers can
prequalify for a SoFi mortgage loan,
with as little as 3% down.

House Hack

House hacking refers to leveraging property you already own to generate income. For example, you might rent out an in-law suite or list your property on Airbnb.

Another option: You could rent out your primary residence and move into one of the units in a multifamily property you buy. This way, you’d probably generate more income than if you had rented out the unit to a tenant.

Finally, you could hop on the ADU bandwagon if you own a single-family home. Accessory dwelling units can take the form of a converted garage, an attached or detached unit, or an interior conversion. The rental income can be sizable. To fund a new ADU, homeowners may tap home equity, look into cash-out refinancing, or even use a personal loan.

Seek Seller Financing

If you don’t have the cash for a down payment on a property, you may be able to forgo financing from a lending institution and get help instead from the seller.

With owner financing, there are no minimum down payment requirements. Several types of seller financing arrangements exist:

• All-inclusive mortgage: The seller extends credit for the entire purchase price of the home, less any down payment.

• Junior mortgage: The buyer finances a portion of the sales price through a lending institution, while the seller finances the difference.

• Land contracts: The buyer and seller share ownership until the buyer makes the final payment on the property and receives the deed.

• Lease purchase: The buyer leases the property from the seller for a set period of time, after which the owner agrees to sell the property at previously agreed-upon terms. Lease payments may count toward the purchase price.

• Assumable mortgage: A buyer may be able to take over a seller’s mortgage if the lender approves and the buyer qualifies. FHA, VA, and USDA loans are assumable mortgages.

Invest Indirectly

Not everyone wants to become a landlord in order to add real estate to their portfolio. Luckily, they can invest indirectly, including through crowdfunding sites and real estate investment trusts (REITs).

The Jumpstart Our Business Startups Act of 2013 allows real estate investors to pool their money through online real estate crowdfunding platforms to buy multifamily and other types of properties. The platforms give average investors access to real estate options that were once only available to the very wealthy.

REITs are companies that own various types of real estate, including apartment buildings. Investors can buy shares on the open market, and the company passes along the profits generated by rent. To qualify as a REIT, the company must pass along at least 90% of its taxable income to shareholders each year.

As investment opportunities go, REITs can be a good choice for passive-income investors.
💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show the real estate agent proof that you’re preapproved for a mortgage. SoFi’s online application makes the process simple.

The Takeaway

Buying a multifamily property with no money down is possible if you take the roads less traveled, including leveraging other people’s money. And if you have the means to make a down payment on a property, your first step is to research possible home mortgage loans.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

Can I buy a multifamily home with an FHA loan?

It is possible to buy a property with up to four units with a standard mortgage backed by the Federal Housing Administration (FHA) if the buyer plans to live in one of the units for at least a year. The FHA considers homes with up to four units single-family housing. The down payment could be as low as 3.5%. There are loan limits.

A rarer product, an FHA multifamily loan, may be used to buy a property with five or more units. The down payment is higher. You’ll pay mortgage insurance premiums upfront and annually for any FHA loan.

Is a multifamily property considered a commercial property?

Properties with five or more units are generally considered commercial real estate. Commercial real estate loans usually have shorter terms, and higher interest rates and down payment requirements than residential loans. They almost always include a prepayment penalty.

Photo credit: iStock/jsmith

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

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

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

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

^¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.

^†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.

SOHL-Q224-1842703-V1

Source: sofi.com

Apache is functioning normally

April 24, 2024 by Brett Tams

“We decided going forward that we’re going to focus 100% on retail,” she said. “We look for like-minded companies that have the same culture, because culture and leadership are key. And I think you have to start building scale in this business.”

Scale is an important tool for maintaining investment in people and technology, Schmidt said, and the additional companies that Guild has brought aboard recently reflect its goals for culture and leadership and may have had issues of scale that were solved by joining Guild, she said.

When asked about the particulars of culture and how Guild aims to define that trait, Schmidt said that three values lead the charge: listening, collaboration and learning.

“For us, [potential acquisitions] have to be able to have a good understanding of their people and listen to what they have to say,” she said. “Everybody has a voice. Those are the kinds of leadership qualities that create that culture. Sometimes it’s not easy to identify that. We have to spend a lot of time doing a lot of discovery to identify that.”

When asked about recent acquisitions like Academy Mortgage and Cherry Creek Mortgage, Schmidt said that Guild had identified the kinds of values they want in their organization as well as the geographic advantage that would come from bringing them into the fold. There were also product advantages.

“Those two are more West Coast companies even though they had a national footprint, and so we’ve known them for years,” she said. “We had a good sense of their culture in advance. They both have great cultures and we were competing for the same people, so we knew the fit would be really good. So now, for all the western states, we pretty much have the market share that we wanted to get to.”

The Cherry Creek acquisition allowed Guild to expand and build out its reverse mortgage capabilities since the company served as a leading lender in the space for quite a while. With Academy, the homebuilder business was most attractive to Guild, Schmidt said.

Schmidt also talked about the need to invest in the company’s technology platform to better enable its people. Recruitment efforts are also following the company’s broad retail-focused strategy, and Schmidt asserted that any retail loan originator will want to “talk to Guild” if they want to advance in the retail origination space.

Schmidt also alluded to further development of its technology by leveraging artificial intelligence, and she shared that the company hired a specialist in its technology division to help grow the company’s efforts.

But to avoid moving too quickly and potentially running afoul of a developing and controversial technology, she said the company’s approach is to “start small and be careful.”

Source: housingwire.com

Apache is functioning normally

April 23, 2024 by Brett Tams

Bootstrapping typically means relying on one’s self to reach a goal. In business, bootstrapping is generally used to describe entrepreneurs who use their own personal funds and resources to start a business instead of raising money through small-business loans or investors.

Whether bootstrapping is your personal preference or your best option to start a business, there are pros and cons to this funding method, as well as some alternatives that might be helpful to consider.

How much do you need?

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

What is bootstrapping?

Bootstrapping refers to entrepreneurs starting new businesses by relying on their personal resources instead of securing funds through business loans or raising capital through investors. Or, in the case of an existing business, bootstrapping can be used to describe an entrepreneur using the revenue generated by their company, along with personal resources, to grow the business.

Some personal resources that may be used in bootstrapping include:

Personal savings.
Personal credit cards.
Personal loans, including home equity loans.
Personal spaces such as an extra room or garage.
Personal assets like equipment and supplies.

Pros and cons of bootstrapping

Pros

Owner retains full control of the business.

No business loan debt is taken on by the company.

Accrue time in business and revenue to help qualify for future funding.

Cons

Business growth may be limited due to lack of funds.

Personal assets, such as savings and retirement, could be at risk.

Doesn’t typically build business credit history.

Why do entrepreneurs choose bootstrapping?

For some entrepreneurs, bootstrapping is a personal preference and for others it may be their only option for launching a new business or growing an existing one.

Here are some reasons entrepreneurs may use bootstrapping to start their business:

Can’t qualify for a business loan

One of the top reasons budding entrepreneurs turn to bootstrapping is because they can’t qualify for a startup business loan. They may not be able to meet lender requirements for time in business, credit score and annual revenue, among other things.

Banks and SBA lenders — lenders that offer loans guaranteed by the Small Business Administration — generally have competitive rates and terms. However, to qualify for funding, you’ll typically need multiple years in business, in addition to good credit. For example, a Wells Fargo BusinessLine line of credit requires a credit score of at least 680 and two years in business.

Online business loans are typically easier to qualify for than bank loans; however, approval can still be a challenge for brand-new businesses. For example, Fora Financial offers business loans for bad credit with a minimum credit score requirement of 500 but also a minimum of six months in business.

Don’t want to take on additional debt

Entrepreneurs who could qualify for a business loan may choose bootstrapping because they don’t want to take on business debt and the interest expense and additional fees that come with a loan.

Business loan interest rates vary based on a number of factors. However, according to the most recent data from the Federal Reserve, interest rates on the average small-business bank loan ranged from 6.13% to 12.36% in the fourth quarter of 2023

. Other types of loans, including online loans, can have even higher interest rates.

In addition to interest, borrowers often have to pay fees like a business loan origination fee. Interest and fees may push the total cost of the loan beyond what an entrepreneur is willing to pay.

Don’t want to give up full control of the business

Entrepreneurs who have ruled out debt financing may have the option of raising money through equity financing — selling shares in their business to investors in exchange for funding. While equity financing doesn’t require taking on debt or making loan repayments, some entrepreneurs may still prefer bootstrapping.

When an entrepreneur sells shares in their business, they exchange partial business ownership for the investor’s funding. And, depending on the number of shares sold and the investor’s goals, the entrepreneur may no longer have full independence to run the company their way. They’ll also have to share the profits if the business succeeds.

Want to test the business idea before fully committing

Bootstrapping can allow an entrepreneur to try out their business model, refine their marketing strategy and build a customer base before committing to long-term financing or arranging to offer equity to investors. In addition, a business owner may find it easier to qualify for funding from business lenders after they’ve been in operation for at least six months.

Also, some entrepreneurs may not be comfortable quitting a full-time job in order to start a business. Bootstrapping can be a way to get a business off the ground without losing your main source of income.



Est. APR 20.00-50.00%	Est. APR 27.20-99.90%	Est. APR 15.22-45.00%
Min. credit score 625	Min. credit score 625	Min. credit score 660

Bootstrapping tips

The following tips may help you when bootstrapping your business:

1. Create a business plan.

Regardless of how you choose to fund your startup, you’ll need to write a business plan. The plan provides detailed information on your business, such as an executive summary, product description, market analysis, marketing strategy and financial projections.

Your business plan can be used as a guide to set up your business and help you identify your customer base, establish your marketing plan, lay out the organization of your operation and explain how you plan to generate revenue. You’ll typically update your business plan as your company grows.

In addition, if you decide to look for additional funding in the future, you can share your business plan with lenders and investors to show them that you have a profitable operation.

2. Officially launch your business

Bootstrapping may involve starting a scaled-down version of your business where, for example, you operate out of a spare room or use personal funds to buy supplies. However, no matter the size of your operation, you still want to take steps that will make your business official in order to best set it up for future growth.

Some common steps to take when launching a business:

3. Lay the groundwork for a future business loan

Bootstrapping is often used to get a business up and running; however, it’s not always the best option for business growth. For some entrepreneurs, bootstrapping may be a short-term option that will help them secure business financing in the future.

Bootstrapping can give you the opportunity to accrue time in business, generate revenue and build a customer base — all things that will make your business more attractive to lenders and investors down the road.

4. Take advantage of free resources

There are organizations that offer free or low-cost training, counseling and other resources to help you start and grow your business.

SBA resource partners are located throughout the U.S. and include Small Business Development Centers, SCORE business mentors, Veterans Business Outreach Centers and Women’s Business Centers, among others.
U.S. Chamber of Commerce chapters provide resources for entrepreneurs including virtual events and networking opportunities within your local community, though a membership fee may be required in some cases.
Industry and trade associations within your local community can provide opportunities to advance your industry knowledge and network through conferences and member events.
Public libraries can also be a resource to small-business entrepreneurs, with some offering online courses, demographic information, business planning tools and suggested reading lists.

Alternatives to bootstrapping

Here are some alternatives you may want to consider before deciding to fund your business on your own:

Business loans. There are many different types of business loans — term loans, lines of credit and equipment loans. Because the qualification requirements for business loans vary by type and lender, exploring a variety of options may allow you to find a loan that works for you and your new business.
Family and friends loans. Asking family members and friends to loan you funds or invest in your startup business is another way to raise money. Although these arrangements are often informal, it’s important to put the details of the funding in writing so there are no misunderstandings in the future.
Small-business grants. Grants can be a source of funding for small businesses, although competition for this “free” money can be fierce and the application process can be time-consuming. However, there are startup business grants offered by government agencies, corporations and nonprofit organizations that may be worth looking into.
Crowdfunding for business. Crowdfunding can be used to create online campaigns to raise money for a business startup, as well as other causes. A unique business idea and a wide network of supporters can help an entrepreneur launch a successful campaign.

Looking for a business loan?

See our overall favorites, or narrow it down by category to find the best options for you.

on Nerdwallet’s secure site

Source: nerdwallet.com

Apache is functioning normally

April 23, 2024 by Brett Tams

When it comes to saving for retirement, you have many options to choose from. But one that you may not have considered is investing in gold—namely, a gold IRA.

A gold IRA is a simple yet innovative type of individual retirement account (IRA). Instead of the conventional holdings of stocks and bonds, it invests in precious metals, primarily gold, but also in silver and platinum.

Investing in a gold IRA presents a potential opportunity for safeguarding your savings from economic turmoil and expanding the diversity of your asset portfolio. Nevertheless, it’s important to keep in mind that a gold IRA may not be a suitable option for everyone, and a thorough evaluation of your personal financial situation is crucial before making an investment decision.

This article will provide you with a comprehensive understanding of gold IRAs and equip you with the knowledge necessary to make an informed investment choice.

What is a Gold IRA?

A gold IRA, also known as a precious metals IRA, is a type of investment vehicle that gives you the ability to hold physical gold, silver, and other valuable metals. You have the option of funding this account either with pre-taxed money or as a Roth IRA with post-tax funds.

Your savings will not be invested in stocks, bonds, or mutual funds but rather in precious metal coins or bullion, providing a tangible form of investment. The tax rules and procedures for a precious metals IRA are similar to those of any other IRA.

Investing in gold bullion and other precious metals goes beyond just IRAs. Some investors choose to purchase stocks or exchange-traded funds (ETFs) in gold mining companies or precious metal funds. However, the majority of gold investors prefer to keep their investments in physical precious metals.

Types of Gold IRAs

There are three main types of gold IRAs: traditional, Roth, and SEP.

Traditional gold IRA: – Traditional gold IRAs are funded with pre-tax dollars and require you to pay income tax on withdrawals in retirement.
Roth gold IRA – Roth IRAs are funded with after-tax dollars and allow for tax-free growth and tax-free withdrawals in retirement.
SEP gold IRA – SEP IRAs are intended for self-employed or small business owners and are funded with pre-tax dollars. Contribution limits are different, and business owners can contribute on behalf of their employees.

The IRS has strict guidelines for the kinds of metals that can be included in a gold IRA. The only precious metals that can be included are gold, silver, platinum, and palladium.

Here is an overview of each of the IRS-approved precious metals, as well as the requirements for each.

1. Gold

To be eligible for inclusion in a self-directed gold IRA, gold coins or bars must adhere to stringent purity standards, with a minimum of 99.5% purity. Any gold that fails to meet this standard will be rejected.

Should the gold pass the purity test, it must be securely stored in an approved depository, which is a specialized facility specifically designed to protect precious metals.

Having a trusted and IRS-approved custodian is also a requirement, who will serve as the trustee of the IRA and oversee the safekeeping of the gold. Some of the most sought-after gold coins and bars for IRAs include:

American Gold Eagle coins
American Gold Buffalo coins
Australian Gold Kangaroo/Nugget coins
Austrian Gold Philharmonic coins
Johnson Matthey Gold bar
Valcambi Gold CombiBar
Canadian Gold Maple Leaf coins
Credit Suisse Gold bars

2. Silver

The purity of silver coins must be at least 99.9% to be eligible for deposit in a gold IRA. The following is a list of silver coins and bars that meet the approval criteria for inclusion in an IRA:

American Silver Eagle coins
Australian Kookaburra Silver coins
Austrian Philharmonic Silver coins
Canadian Silver Maple Leaf coins
Mexican Silver Libertad coins
Johnson Matthey Silver bar
Royal Canadian Mint Silver bar

3. Platinum

Platinum coins and bars must meet or exceed a purity standard of 99.95%. Here is a list of IRA-approved platinum bars and coins to consider:

American Eagle Platinum coins
Australian Koala Platinum coins
Canadian Maple Leaf Platinum coins
Isle of Man Noble coins

4. Palladium

And finally, palladium must meet a purity standard of 99.95% or higher. Here is a list of IRA-approved palladium bars and coins:

Canadian Palladium Maple Leaf coins
Russian Ballerina Palladium coins
Baird Palladium bars
Credit Suisse Palladium bars

If you’re interested in investing in a gold IRA, you need to be mindful of the accepted metals. While there may be other precious metal bars and coins that are sought after by collectors, they may not be eligible for investment within a gold IRA. To ensure you’re making the right investment decisions, it’s best to work with a trusted precious metals company.

To avoid any issues, make sure to double-check with your IRA company before investing in any precious metals you’re unsure about. Here’s a list of metals that are not approved for investment in a gold IRA:

Austrian Corona
Belgian Franc
British Sovereign and Britannia
Chilean Peso
Chinese Panda coins
Dutch Guilder

French 20 Franc
Hungarian Korona
Italian Lira
Mexican Peso
South African Krugerrand
Swiss Franc

Pros and Cons of Gold IRAs

Before investing in a gold IRA, it’s important to weigh the pros and cons. Here are some key factors to consider before making a decision.

Pros

Since the Financial Crisis of 2008, gold IRAs have become a popular investment option for people looking to diversify outside the stock market. Many people believe that gold is a good way to protect yourself against inflation.

And gold IRAs are not as difficult to invest in as they were in the past. Due to increased demand, there are more legitimate gold IRA companies available that will help you buy and manage your gold and precious metals investment.

Cons

One of the biggest downsides to opening a gold IRA is that the startup costs can be high. Plus, gold doesn’t pay dividends or interest, which kind of defeats the purpose of putting it in a tax-advantaged investment.

Plus, many people find it tricky to make withdrawals on gold IRAs, since gold isn’t a liquid asset.

You also need to be sure that you’re working with a reputable company that knows what they’re doing. Otherwise, it’s easy to fall victim to scam artists.

How to Get Started With a Gold IRA

Starting a gold IRA requires opening a self-directed IRA account, which offers greater flexibility in terms of investment options. You’ll be responsible for managing this retirement account, but you’ll need the assistance of a broker for buying gold and securing your assets.

When selecting a custodian, consider a bank, credit union, or brokerage firm that has been approved by a state or federal agency. You may also ask your gold dealer for recommendations on trusted brokers.

Start-Up Costs to Open a Gold IRA

Unlike traditional IRAs, a gold IRA comes with a few extra expenses. Here are some of the most significant expenses you’ll need to know about:

The markup fee: When you buy gold or precious metals, you may have to pay a markup fee. This is a one-time upfront fee, and it will vary based on the vendor you choose.
IRA setup fee: The setup fee is another one-time fee you’ll pay to set up your IRA account. Again, this will vary depending on the broker you choose. However, it will likely be more costly because not every firm deals with gold IRAs.
Custodian fees: You’ll have to pay an annual fee for the custodian who’s managing your gold IRA.
Storage fees: Your gold must be stored in a secure, approved location. For that reason, you’ll have to pay annual storage fees.

Bottom Line

If you seek to diversify your portfolio beyond the stock market, a gold IRA could be a suitable option. Precious metals like gold are often considered secure investments and can act as a safeguard against inflation.

On the other hand, other methods of asset diversification may be more economical and less cumbersome. Some people regard gold as a poor choice for a tax-deferred investment, as it does not produce income.

If you opt for a gold IRA, be sure to thoroughly research your metals dealer and custodian, to ensure the protection of your investment and to steer clear of scams.

Frequently Asked Questions

Is a gold IRA a good investment?

It depends on your personal financial circumstances and investment objectives. While some view gold as a way to hedge against inflation and diversify their portfolio, others may not find value in physically investing in the precious metal. To make an informed decision, it’s crucial to thoroughly examine both the potential risks and benefits before investing in a gold IRA.

How do I set up a gold IRA?

To set up a gold IRA account, you will need to find a gold IRA company that specializes in setting up precious metals IRAs. Gold IRA companies will provide you with the necessary paperwork and guidance to open and fund your account.

Are there any restrictions on what types of gold I can hold in my IRA?

Yes, there are specific rules for the types of gold that can be held in a precious metals IRA. The gold must be at least 99.5% pure and must be in the form of coins or bars from an approved refinery or mint. Some common examples of approved gold coins include the American Gold Eagle and the Canadian Gold Maple Leaf.

What is the difference between a traditional IRA, Roth IRA, and SEP IRA?

A traditional IRA is a tax-advantaged account that allows you to contribute pre-tax dollars and potentially receive a tax deduction on your contributions.

A Roth IRA, on the other hand, is a retirement account that accepts post-tax contributions, but all qualified withdrawals, including earnings, are tax-free.

Lastly, a SEP IRA is a retirement savings plan designed for self-employed individuals and small business owners. It enables them to make tax-deductible contributions to a traditional IRA for themselves and their employees.

Source: crediful.com

Apache is functioning normally

April 23, 2024 by Brett Tams

Despite the obvious appeal of side hustles — more money! — they’re not for everyone. If your side hustle makes you stress out, neglect relationships, or miss opportunities at your day job, then consider it a bad idea. Side hustles are only beneficial when they help you accomplish goals without sacrificing what matters most.

Side hustles are often promoted as a simple way to generate extra cash or fulfill your passions. However, the often-ignored price tag is physical and mental strain. Not to mention the time requirement and potential financial commitment necessary to get a gig going.

Read on to find out how to evaluate your options and goals before taking on a side hustle.

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What Is a Side Hustle?

A side hustle refers to a second job or source of income that people pursue outside their primary employment. The purpose may be to earn extra money, pursue a pet project, or develop skills in a different area.

A side hustle can take various forms, from freelance work or consulting to selling handmade crafts or driving for a rideshare service. Renting out property and offering tutoring services also qualify. The point is leveraging your time and skills to pad your budget or explore a wider field than your day job allows.
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Pros and Cons of a Side Hustle

Browse the pros and cons below, and make a mental note of how many of each apply to your situation. If one side of the scales is considerably heavier, your decision may be obvious.

Pros of a Side Hustle

Here’s a breakdown of the benefits of a side hustle:

• Develop Your Career: Side hustles can provide a valuable opportunity to develop skills, gain experience, and broaden your professional horizons. By taking on projects or roles outside your main job, you may acquire new competencies to help advance your career or get a promotion. Additionally, side hustles can demonstrate initiative, entrepreneurial spirit, and versatility to potential employers, enhancing your marketability and opening up new opportunities.

• Switch Up the Norm: A side hustle allows you to break away from the routine of your primary job. This variety can be refreshing and stimulating, helping to prevent boredom and burnout. Whether you’re pursuing a different passion, exploring a new industry, or experimenting with creative projects, having a side hustle can inject excitement and fulfillment into your life outside work.

• Build Your Network: Side hustles often involve interacting with different people and communities, which can expand your professional network. Whether you’re collaborating with clients, partners, or fellow freelancers, each connection presents an opportunity to exchange ideas, learn from others, and potentially uncover new career prospects. Building a diverse network through your side hustle can provide valuable support, mentorship, and referrals in your professional journey.

• Channel Creativity: Side hustles offer a platform for expressing your creativity, passions, and interests outside your primary job. Whether it’s writing, photography, crafting, or any other form of expression, a side hustle can bring more meaning and fulfillment than your 9-to-5. This outlet can serve as a source of inspiration, relaxation, and personal growth, enriching your life beyond the confines of your main occupation.

• Increase Income: One of the most practical benefits of a side hustle is the extra money. Whether saving for a major purchase, paying off debt, or simply seeking financial security, the income from your side hustle can provide greater financial flexibility and stability. Likewise, having multiple streams of income can be a buffer against economic uncertainty and provide a safety net in case of job loss or another hardship.

Cons of a Side Hustle

On the other hand, these are the potential drawbacks of a side hustle:

• Less Time to Relax: Side hustles require time and effort, eroding your leisure time. Working 60+ hour weeks can lead to fatigue and even burnout. When juggling your day job, side hustle, and personal commitments causes you to lose sleep, your quality of life can become unsustainably low.

• Distraction from Work: A side hustle can encroach on your attention and focus during work hours. Constantly thinking about your other gig, responding to email, or taking calls while at your main job can detract from your performance. If colleagues or supervisors perceive your divided attention, this can also strain your professional relationships and undermine your credibility.

• Managing the Stress of Two Jobs: Managing the demands of a side hustle on top of your primary job and personal responsibilities can significantly increase stress. Deadlines, client expectations, financial pressures, and the need to constantly switch between different roles and tasks can elevate anxiety. Chronic stress associated with balancing multiple commitments can affect your mental and physical health over time.

• Sustainable Prices Can Be Elusive: Setting prices or negotiating rates for your side hustle services can be challenging, especially if you’re just getting started or dealing with imposter syndrome. Striking the right balance between competitiveness and fair compensation can be tricky, and you may encounter situations where clients or customers undervalue your work. Plus, breaking into a competitive market may require setting prices so low that you work at a loss for the first few months or even years. As a result, your side hustle may ding your budget instead of adding to it.

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When Does a Side Hustle Make Sense?

Several ingredients are key for a side hustle to make sense for your situation. First, it’s essential to have a clearly defined reason for pursuing a side hustle. For example, you may want to generate income, follow a creative impulse, or pave a path to a new career. This clarity of purpose will guide your efforts and motivate you throughout your side hustle journey.

Second thorough research is crucial to understanding the market, demand, competition, and potential challenges associated with your chosen side hustle. This is significant even if you don’t have financial aspirations for your other gig.

For example, if you’re interested in fitness, is your specific angle better suited for a blog or a YouTube channel? Will you create a social media presence to drive more traffic? What kind of value are you delivering to your audience?

In a different vein, if you want to become a rideshare driver, which company offers the best pay? Do you have a presentable vehicle that you’re willing to put miles on? Answering these kinds of questions will help you make informed decisions and set realistic expectations. Not doing your homework will likely bring a lack of results, monetary loss, and frustration.

Next, understand the time commitment your side hustle will require. For instance, a few hours of woodworking on the weekend is less demanding than taking a constant flow of orders on Etsy. If your schedule is already full to the brim from your primary job, family responsibilities, and personal pursuits, incorporating a side hustle can do more harm than good. Even if you work a side gig with your significant other, it’s not the same as spending quality time together.

Finally, your side hustle should fit into the larger picture of your goals and values. For instance, you might start a side hustle in order to build a $5,000 emergency fund. Or you could take a software engineering course in the evenings that will help you eventually switch careers. In any case, your side hustle should have specific benefits and point toward a defined objective. Otherwise, you’ll burn time without accomplishing much.

The Opportunity Cost of a Side Hustle

The “opportunity cost” of a side hustle depends upon the resources you invest. When you dedicate yourself to anything, you lose opportunities to engage in leisure activities, spend time with family and friends, and take vacations. In essence, the opportunity cost of a side hustle equals the value you place on other aspects of life that matter most.

Also ask yourself what is the financial cost of your side hustle? You might have to invest money to purchase materials or pay for marketing. You might also give up overtime at your primary job. That’s cash that could go into savings, investments, or paying off debt.

Likewise, your time could be going into skill development for your day job, leading to promotions or raises. Plus, your employer might sponsor specific types of professional development, resulting in free training that moves your career forward and increases your salary.

Ultimately, the opportunity cost of a side hustle varies depending on individual circumstances, goals, and priorities. It’s essential to carefully consider these factors and assess how the benefits of the side hustle compare to the time and money.

Examples of Side Hustles

While there are unusual ways to make money, side hustles are typically more accessible. Here are some side hustles that match with a range of backgrounds and skill sets:

• Freelancing: Offer services such as writing, graphic design, programming, bookkeeping, and more. You’ll take projects on a contract basis with multiple clients.

• Dog Walking: Providing exercise and companionship for dogs by taking them on walks on a regular or as-needed basis.

• Blogging: Creating and maintaining a consistent feed of valuable written content on a topic you love or have expertise in. Find out how much it costs to start and run a blog.

• Non-Medical Senior Care: Assisting elderly individuals with daily tasks (shopping, bathing, housework, etc.) and providing companionship to support their wellbeing.

• Babysitting: The tried-and-true income-generator for teenagers and adults alike. You’ll care for children in the evenings and on weekends when parents are busy or need a break.

• Personal Assistant: Providing administrative support and assistance to individuals or businesses. You’ll manage schedules, run errands, and handle correspondence. You can also be a virtual assistant and provide numerous essential services (bookkeeping, arranging travel, etc.), therefore creating a side hustle from home.

• Handyman: Offering services to repair, maintain, and improve residences. You can specialize in one or more areas: plumbing, electrical work, carpentry, or general home tasks.

• Crafting: Creating handmade goods and artwork, such as jewelry, clothing, and home décor, to sell online or at craft fairs.

• Cooking/Baking: Crafting you can eat! Get to work in the kitchen to make treats, desserts, or meal kits for sale.

• Private Tutor: Providing personalized academic instruction to students in a particular subject or skill, often on a one-on-one basis.

• Self-Publishing: Writing and publishing books or other written works independently, without the involvement of traditional publishing companies. Self-publishing is inexpensive because your work will be accessible as an ebook.

• Teaching Online Courses: Creating and delivering educational courses or tutorials on a specific topic via online platforms is another side hustle from home.

• Product Tester: Testing and reviewing products or services for companies or brands, often providing feedback and insights based on personal experience.

• E-Commerce: Selling products or services online through a website or online marketplace, which may involve sourcing or creating products, managing inventory, and handling customer inquiries and orders.

When Is a Side Hustle Not Worth It?

A side hustle may not be worthwhile because of the toll on your physical, mental, and financial wellbeing. Here are more specific ways that a side hustle can negatively impact your life:

• Burnout: Working an 8-hour job and dedicating 2 to 4 additional hours per day to your side hustle leaves little room for anything else. The demands of a side hustle can result in excessive stress, fatigue, and burnout.

• Missed Career Advancements: Devoting significant time and energy to a side hustle may detract from opportunities for advancement in your primary job. They can also keep you from visualizing a sustaining career. So if you’re in a job you don’t like, a side hustle can act as a bandage instead of a cure. It’s advisable to focus on switching vocations instead of supplementing your income through another unsatisfying side job.

• Unhealthy Lifestyle Habits: A demanding side hustle may lead to poor eating choices due to lack of time for meal prep, insufficient exercise, and disrupted sleep. Over time, these habits damage physical health and overall quality of life.

• Strained Relationships: Spending excessive time on a side hustle can strain relationships with family, friends, and romantic partners. Missing significant events or quality time with loved ones due to work commitments can lead to feelings of resentment and isolation.

• Financial Costs: Some side hustles require upfront investments of time and money, for purchasing inventory or equipment, marketing expenses, or training courses. If the return on investment does not justify these costs, the side hustle may not be financially sustainable in the long run.

• Not-So-Passive Income: Many side hustles require active participation and ongoing effort to generate income, which can limit scalability and long-term earning potential. Without the ability to create passive income streams, you’ll constantly trade time for money without achieving financial freedom.

• Neglecting Personal Growth: A side hustle that consumes all available time and energy may leave little room for hobbies or other interests. Over time, this can lead to stagnation and dissatisfaction with your lifestyle.

Side Hustle Tips

A side hustle can quickly get out of hand or detract from your life if you’re not careful. Here’s how to create a practical side hustle that serves your needs:

• Start Small: When beginning a side hustle, starting with manageable tasks or projects that don’t require a significant investment of time or resources is wise. Starting small allows you to test the waters, gain experience, and assess the viability of your chosen side hustle without taking on too much risk. As you gain confidence and experience, you can gradually expand and scale your side hustle over time.

• Play to Your Strengths: Identify your special skills, interests, and areas of expertise, and leverage them in your side hustle. By focusing on activities that align with your strengths, you’re more likely to enjoy the work, excel at it, and differentiate yourself from competitors. This approach also allows you to maximize your earning potential by offering high-value services or products that cater to a specific niche or market. Remember, this doesn’t mean you must stick to your current skill set. Your interests and abilities can also lead you to pick up new skills.

• Maintain Your Performance at Work: Balancing a side hustle with a full-time job means prioritizing high performance and professionalism in your primary job while pursuing your side hustle. To that end, it’s recommended to set boundaries for the time you dedicate to your side hustle and to manage your schedule efficiently. By maintaining your performance at work, you can preserve your job security and opportunities for advancement.

• Aim at a Goal Instead of a Job: Instead of treating your side hustle as just another job, set out to achieve specific goals or milestones that align with your long-term aspirations. Whether your goal is to generate additional income, pursue a passion project, or transition to full-time entrepreneurship, having a clear vision and purpose for your side hustle will keep you motivated and focused on what truly matters to you. By focusing on goals rather than simply exchanging time for money, you can create a more fulfilling and meaningful side hustle.

The Takeaway

Side hustles can be a bad idea when they damage your quality of life. While picking up a side gig can create more income, this result must be weighed against other priorities, including advancement in your day job, time dedicated to relationships, and alternatives that slowly but surely create passive income.

Asking yourself whether a side hustle is a good move might not be the most relevant question. Instead, you can ask yourself if a second job makes sense after developing a clear vision of the future.

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FAQ

Are side hustles risky?

Side hustles can be risky because of the opportunity cost of picking up extra work. Specifically, a side hustle can drain time and financial resources, add unmanageable stress to your life, and lead to worse quality of life because of the sacrifices required to work a second job. As a result, it’s essential to evaluate your circumstances and identify your goals before starting a side hustle.

Are side hustles a waste of time?

Side hustles can be an excellent way to generate more income, develop yourself professionally, or transition to a different career. However, they can also be a waste of time if you don’t set goals and create a realistic plan when starting. So a carefully planned side hustle that fits into the larger picture of your life can provide massive benefits, while picking up more work to simply stay busy can lead to missed opportunities in your professional and personal life.

Is starting a side hustle really worth it?

Starting a side hustle can be worth it for additional income, pursuing passions, or expanding your skill set. However, it requires careful consideration of the potential drawbacks, such as time constraints, increased stress, and the risk of hindering career advancement. Ultimately, the value of a side hustle depends on your aligning it with personal goals, managing resources effectively, and maintaining a healthy work-life balance.

Photo credit: iStock/JLco – Julia Amaral

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Key Takeaways

Understanding Gold’s Position as a Safe Haven Asset

Silver’s Dual Role: Industrial Demand and Investment Segment

Comparing Investment Strategies: Diversified Portfolio Inclusion

Physical Bullion vs. ETFs: Choosing Your Investment Vehicle

Evaluating After-Inflation Returns: Gold vs. Silver

Making the Decision: Should You Buy Gold or Silver?

Summary

Frequently Asked Questions

What factors influence the price of gold and silver?

Can I invest in gold and silver without owning physical metals?

How does the industrial demand for silver affect its investment value?

What risks are associated with investing in precious metals?

Are there any tax considerations when investing in gold and silver?

How do geopolitical events impact gold and silver prices?

What is the best way to track the prices of gold and silver?

How do central bank policies affect gold and silver investments?

Pros

Cons

Nursery decor: Tips and tricks to test out

Establish your vision

Choose a calming color palette and utilize natural materials

Invest in quality furniture

Prioritize safety

Add personal touches

Consider sensory stimulation

Leave room to grow

Incorporate functionality into your nursery decor

Choose soft flooring options

Design a nursing nook

Don’t be afraid to get creative with nursery decor ideas

Consider soundproofing as part of your nursery decor

Crafting a sanctuary for you and your little one

TOV

TOV

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Sundays Company

Soho Home

Soho Home

Casterly

Casterly

Maiden Home

Maiden Home

ABC Carpet & Home

ABC Carpet & Home

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Anthropologie

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Knoll

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Chairish

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Audo

Design Within Reach

Design Within Reach

Roche Bobois

Roche Bobois

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Modani

Kartell

Kartell

1st Dibs

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CB2

CB2

Blu Dot

Blu Dot

Flash Table Circle Brass

Flash Table Circle Brass

Rove Concepts

Rove Concepts

Can You Buy a Multifamily Property With No Money?

6 Ways to Pay for a Multifamily Property

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