NORTHWESTERN MUTUAL ANNOUNCES PROJECT TEAM FOR NORTH OFFICE BUILDING MODERNIZATION IN DOWNTOWN MILWAUKEE Company committed to providing employment, growth opportunities to residents and small businesses as the company invests over $500M in a new office tower MILWAUKEE, July 11, 2023 /PRNewswire/ — Northwestern Mutual today announced the project team for its $500M investment in the modernization … [Read more…]
Get referrals Network Embrace technology Have fun Here is a closer look at each: 1. Get referrals As a mortgage loan officer, collecting referrals (and reviews) must be a major part of your marketing and business strategy. Email marketing, for instance, is a good way to gather referrals. If you want to keep it simple, … [Read more…]
Joe Buglewicz/Bloomberg
KeyCorp in Cleveland has provided a $20 million line of credit to Lendistry, a Los Angeles-based, minority-led community development financial institution. The deal represents the biggest single commitment to date for the CDFI lending group Key launched in November 2021, according to Bryan Maddox, the $195.2 billion-asset bank’s national team leader.
Lendistry “is the largest CDFI we’ve worked with,” Maddox said. “It warranted our ability to leverage up and do more of an investment…Lendistry has tremendous depth to be able to work with clients and potential borrowers on multiple levels.”
Small businesses aren’t the CDFI group’s exclusive focus, but it’s a growing area of interest, according to Maddox. “We’ve probably invested in three or four CDFIs in the last year-and-a-half that concentrated on small-business lending.”
KeyCorp
In March, Maddox’s Community Development Financial Institutions Group extended a $10 million line of credit to Boston-based Arctaris Impact Investors to support its small-business lending.
Founded in 2014, Lendistry has made more than $9.4 billion in loans and grants in support of more than 622,000 small businesses. The relationship with Key will serve as a “resume-builder” as Lendistry seeks to expand involvement in the growing State Small Business Credit Initiative and similar programs, CEO Everett Sands said.
“As the government thinks about granting Lendistry more funds and adding us to more programs, ‘Can you handle it,’ is a natural question,” Sands said. “We can say, ‘Look at what we just did with Key.'”
The line of credit also serves as a hedge against an economic downturn. “When you’re entering a tightening credit market, you want to make sure you have multiple partners. I look at it as a fiduciary responsibility,” Sands said.
Key is a significant small-business lender on its own, ranking among the nation’s top 20 Small Business Administration 7(a) lenders. Through July 5, Key had closed 665 7(a) loans for $168.3 million, according to SBA. (Under 7(a), SBA guarantees small-business loans made by banks and other participating lenders.)
Lendistry can help Key reach businesses that don’t fit into a conventional bank credit box, even with a credit enhancement, Sands said. Sands cited airport vendors, startups and businesses that sell through Amazon.com as examples. “There are several deals that we do in the CDFI world that don’t necessarily meet the standardized traditional lending” parameters, Sands said.
According to Maddox, Lendistry has been on Key’s radar for some time. “As we started to identify opportunities across the country and kept hearing Lendistry is involved in this, or Lendistry was involved in that, it only made sense to learn a little bit more about what they were doing,” he said.
Maddox characterized the $20 million line of credit, first announced last month, as an opening act in what he believes will grow into a deeper, ongoing relationship. “This fits squarely into the charge we have as a CDFI lending platform,” Maddox said. “It certainly helps with our [Community Reinvestment Act] commitments, but also it’s the right thing for us to do.”
“I see big things for Everett and his team in the future,” Maddox said. “We want to be able to help provide capital for that growth. It started [with the line of credit] but we believe it will be a lot larger in the near future.”
While Key has received 10 outstanding ratings on CRA exams, some community groups have asked regulators to investigate how well the company complied with a $16.5 billion-asset community benefits agreement negotiated as part of its 2016 acquisition of the $40 billion-asset First Niagara Financial Group. In May, Key agreed to undergo a third-party racial-equity audit to be conducted by law firm Covington & Burling.
Source: nationalmortgagenews.com
If you ask any financial advisor when to start saving for retirement, their answer would likely be simple: Now.
It’s not always easy to prioritize investing for retirement. If you’re in your 20s or 30s, you might have student loans or other goals that seem more “immediate,” such as a down payment on a house or your child’s tuition. But starting early is important because it can allow you to save much more. In fact, setting aside a little every year starting in your 20s could mean an additional hundreds of thousands of dollars of accumulated investment earnings by retirement age.
No matter what age you are, putting away money for the future is a good idea. Read on to learn more about when to start saving for retirement and how to do it.
When should you start saving for retirement? In your 20s, if possible. That’s because if you start saving early, you could reap the benefits of compound interest.
Here’s how compound interest works and why it can be so valuable: The money in a savings account, money market account, or CD (certificate of deposit) earns interest. That interest is added to the balance or principle in the account, and then interest is earned on the new higher amount.
Depending on the type of account you have, interest might accrue daily, weekly, monthly, quarterly, twice a year, or annually. The more frequently interest compounds on your savings, the greater the benefit for you.
And the sooner you start saving, the more time compound interest has to do its work.
To understand the power of compound interest, consider this:
If you start investing $6,000 a year at age 25, by the time you reach age 67, you’d have a total of 1,055,703.27. However, if you waited until age 35 to start investing the same amount, and got the same annual return, you’d have $545,338.67.
| Age | Annual Return | Savings |
|---|---|---|
| 25 | 6% | $1,055,703.27 |
| 35 | 6% | $545,338.67 |
As you can see, starting in your 20s means you’d save almost half a million dollars more than waiting until your 30s.
Retirement is often considered the single biggest expense in many peoples’ lives. Think about it: You may be living for 20 or more years with no active income.
Plus, while your parents or grandparents likely had a pension plan that kicked off right at the age of 65, that may not be the case for many workers in younger generations. Instead, the 401(k) model of retirement that’s more common these days requires employees to do their own saving.
As you get started on your savings journey, do a quick assessment of your current financial situation and goals. Be sure to factor in such considerations as:
• Age you are now
• Age you’d like to retire
• Your income
• Your expenses
• Where you’d like to live after retirement (location and type of home)
• The kind of lifestyle you envision in retirement (hobbies, travel, etc.)
To see where you’re heading with your savings you could use a retirement savings calculator. But here are more basics on how to get started on your retirement savings strategy, at any age.
Starting to save for retirement in your 20s is something you’ll later be thanking yourself for.
As discussed, the earlier you start investing, the better off you’re likely to be. No matter how much or little you start with, having a longer time horizon till retirement means you’ll be able to handle the typical ups and downs of the markets.
Plus, the sooner you start saving, the more time you’ll be able to benefit from compound interest, as noted.
Start by setting a goal: At what age would you like to retire? Based on current life expectancy, how many years do you expect to be retired? What do you imagine your retirement lifestyle will look like, and what might that cost?
Then, create a budget, if you haven’t already. Document your income, expenses, and debt. Once you do that, determine how much you can save for retirement, and start saving that amount right now.
If your 20s have come and gone and you haven’t started investing in your retirement, your 30s is the next-best time to start. While there may be other expenses competing for your budget right now — saving for a house, planning for kids or their college educations — the truth remains that the sooner you start retirement savings, the more time they’ll have to grow.
If you’re employed full-time, one easy way to start is to open an employer-sponsored retirement savings plan, like a 401(k). We’ll get into details on that below, but one benefit to note is that your savings will come out of your paycheck each month before you get taxed on that money. Not only does this automate retirement savings, but it means after a while you won’t even miss that part of your paycheck that you never really “had” to begin with. (And yes, Future You will thank you.)
When it comes to how much you should have saved for retirement by 40, one general guideline is to have the equivalent of your two to three times your annual salary saved in retirement money.
Once you have high-interest debt (like debt from credit cards) paid off, and have a good chunk of emergency savings set aside, take a good look at your monthly budget and figure out how to reallocate some money to start building a retirement savings fund.
Not only will regular contributions get you on a good path to savings, but one-off sources of money (from a bonus, an inheritance, or the sale of a car or other big-ticket item) are another way to help catch up on retirement savings faster.
In your 50s, a good ballpark goal is to have six times your annual salary in your retirement savings by the end of the decade. But don’t panic if you’re not there yet — there are a few ways you can catch up.
Specifically, the government allows individuals over age 50 to make “catch-up contributions” to 401(k), traditional IRA, and Roth IRA plans. That’s an additional $7,500 in 401(k) savings, and an additional $1,000 in IRA savings for 2023.
The opportunity is there, but only you can manage your budget to make it happen. Once you’ve earmarked regular contributions to a retirement savings account, make sure to review your asset allocation on your own or with a professional. A general rule of thumb is, the closer you get to retirement age, the larger the ratio of less risky investments (like bonds or bond funds) to more volatile ones (like stocks, mutual funds, and ETFs) you should have.
It’s never too late to start investing, especially if you’re still working and can contribute to an employer-sponsored retirement plan that may have matching contributions. If you’re contributing to a 401(k), or a Roth or traditional IRA, don’t forget about catch-up contributions (see the information above).
In general, when you’re this close to retirement it makes sense for your investments to be largely made up of bonds, cash, or cash equivalents. Having more fixed-income securities in your portfolio helps lower the odds of suffering losses as you get closer to your target retirement date.
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Here are the most common types of retirement accounts and who can use them. This isn’t a comprehensive list of retirement accounts, so it might be a good idea to discuss retirement planning with a financial planner or accountant.
A 401(k) is a workplace retirement account offered by employers. Typically, you contribute a portion of your paycheck, pre-tax.
One of the benefits of using your workplace’s retirement plan is that your company may offer a “match.” A match is when your company contributes to your account when you do. The median maximum employer match is 3%, according to the most recent data from the Bureau of Labor Statistics.
At the very least, you might want to contribute to take advantage of your match since it’s essentially free money. You don’t have to stop there though — in 2023, the IRS maximum 401(k) contribution limit is $22,500, with an additional $7,500 catch-up contribution allowed for those older than 50.
These accounts are tax-deferred, meaning you pay income taxes when withdrawing the savings in retirement. One of the many benefits of using a 401(k) or similar workplace plan is that it lowers your taxable income. For instance, if you’re making $85,000 and you’re contributing $10,000 annually to your 401(k), then you’ll only be taxed on $75,000 of that income.
One of the downsides to a 401(k) is that withdrawing these funds early could trigger a 10% tax penalty in addition to income taxes. Other workplace plans include SIMPLE IRAs, 403(b)s, 457 plans, and Thrift Savings Plans. If you’re self-employed, you could consider opening a Solo 401(k) or SEP IRA.
An Individual Retirement Account or IRA is another account you may use to save for retirement. An IRA is an investment account that is not tied to your workplace. That makes a traditional IRA an option for those that are self-employed or freelancers.
Like a 401(k), a traditional IRA is tax-deferred and provides a place for your investments to grow free from capital gains tax. Because the money is taxed upon withdrawal at retirement, a traditional IRA also carries a penalty for early withdrawal.
Traditional IRA accounts have a much lower contribution limit than 401(k) plans: $6,500 in 2023, if you’re younger than 50. Those 50 and older can contribute $7,500 annually.
Recommended: What is an IRA?
Like a traditional IRA, a Roth IRA is an account that you can open on your own, separate from your workplace. Both individuals covered by workplace retirement plans and those who are self-employed can contribute to a Roth IRA, although there are income limitations.
It’s possible to contribute up to $6,500 into a Roth IRA each year, although exactly how much is tied to your income. In 2023, a single person earning under $138,000 can contribute at least some money to a Roth IRA. For married couples filing jointly, the modified adjusted gross income must be under $218,000 in order to contribute some money to a Roth IRA. As income goes down, max contributions increase until they hit the $6,500 cap.
Unlike a traditional IRA and a 401(k), which are tax-deferred, a Roth IRA is tax-exempt. You pay income taxes on the money that is contributed to the account, but you can withdraw money tax-free in retirement.
Like all retirement accounts, Roth IRAs are free of capital gains taxes, or the levies charged on money you earn from profitable investments.
If you’re self-employed, you can save for retirement with a traditional or Roth IRA. Other investment options for those who are self-employed include:
A Solo 401(k) is basically a 401(k) plan for self-employed individuals or business owners with no employees. The contributions made to the plan are tax-deductible, and the contribution limit is $22,500 in 2023, or 100% of your earned income, whichever is lower, plus “employer” contributions of up to 25% of your compensation from the business. For 2023, the total cannot exceed $66,000. (However, people age 50 and over are allowed to contribute an additional $7,500.)
These are retirement accounts established by a small business owner or self-employed person for themselves. The contributions you make to the plan will reduce your taxable income. The money in the plan will grow tax-deferred and you will pay taxes on withdrawals in retirement. For 2023, the contribution limit is $66,000 or 25% of your earned income.
A high-yield savings account, also known as a high-interest savings account, typically allows you to earn several percentage points more in interest than a standard savings account. Some high-interest savings accounts have an APY (annual percentage yield) of more than 4%.
And thanks to the power of compound interest, a high-yield savings account could help your savings grow even more.
Once money has been contributed to a retirement account, it’s time to invest that money. To say “saving for retirement” is a bit misleading — really, it can be considered to be “investing for retirement.” And you can invest within any of the above mentioned accounts.
Here are some considerations to keep in mind when investing for retirement:
• Your risk tolerance and goals: If you have a workplace plan, you may be given a list of mutual funds to choose from. To choose a fund, you might want to determine whether the underlying investment is appropriate given your goals and risk tolerance. The categories are usually stocks, bonds, domestic equities, foreign equities, or emerging-market stocks and bonds.
• Fees. You may also want to consider the management fees of the fund, called the expense ratio. This is usually expressed as a percentage which is subtracted from the amount invested each year.
For those without a workplace plan, you might want to open a retirement account, fund the account with cash, and then invest the money. Investors can do this by signing up for a traditional brokerage account if they want to pick and choose investments themselves. They might also consider a robo-advisor, or computer-generated investing services.
Recommended: Are Robo-Advisors Worth It?
Investing in retirement and wealth accounts is a great way to jump-start saving and investing for your golden years, whether you invest $10,000 or just $100 to get started.
The first step is to open an account or use the one that’s already open. You could also increase your contribution. If you’re opening an account, you may want to consider one without fees, to help maximize your bottom line.
Ready to invest for your retirement? It’s easy to get started when you open a traditional or Roth IRA with SoFi. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
Easily manage your retirement savings with a SoFi IRA.
Ideally, you should start saving for retirement in your 20s, if possible. By getting started early, you could reap the benefits of compound interest. That’s when money in savings accounts earns interest, that interest is added to the principal amount in the account, and then interest is earned on the new higher amount.
Starting to save for retirement in your 20s can allow you to save much more. In fact, setting aside a little every year starting in your 20s could mean an additional hundreds of thousands of dollars of accumulated investment earnings by retirement age.
That said, if you are older than your 20s, it’s not too late to start saving for retirement. The important thing is to get started, no matter what your age.
It’s never too late to start investing for retirement. If you’re just starting in your 40s, consider contributing to an employer-sponsored plan if you can, so that you can take advantage of any employer matching contributions. In addition to regular bi-weekly or monthly contributions, make every effort to deposit any “windfall” lump sums (like a bonus, inheritance, or proceeds from the sale of a car or house) into a retirement savings vehicle in an effort to catch up faster.
It’s not too late to start saving for retirement at 25. Take a look at your budget and determine the max you can contribute on a regular basis — whether through an employer-sponsored plan, an IRA, or a combination of them. Then start making contributions, and consider them as non-negotiable as rent, mortgage, or a utility bill.
No age is too old to start investing for retirement, because the best time to start is today. The sooner you start investing, the more advantage you can take of compound interest, and potentially employer matching contributions if you open an employer-sponsored retirement plan.
Whether you should prioritize paying off debt over saving for retirement depends on your personal situation and the type of debt you have. If your debt is the high-interest kind, such as credit card debt, for instance, it could make sense to pay off that debt first because the high interest is costing you extra money. The less you owe, the more you’ll be able to put into retirement savings.
And consider this: You may be able to pay off your debt and simultaneously. For instance, if your employer offers a 401(k) with a match, enroll in the plan and contribute enough so that the employer match kicks in. Otherwise, you are essentially forfeiting free money. At the same time, put a dedicated amount each week or month to repaying your debt so that you continue to chip away at it. That way you will be reducing your debt and working toward saving for your retirement.
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Source: sofi.com
Looking to learn how to make money as a digital designer?
A digital design business may include making things such as graphics, printables, planners, t-shirt designs, calendars, business card design, social media graphics, stickers, logo design, and so much more.
The opportunities are endless with a digital design business and this can be a great small business idea where you can work from home.
In today’s digital world, the demand for eye-catching and captivating designs has never been higher.
However, starting a new business can feel overwhelming (and even scary!), especially when you’re not sure where to begin. That’s where this How To Make Money As A Digital Designer guide comes in.
In this article, we’ll walk you through the steps and answer questions you may have when launching a new creative design business.
Today, I have a helpful interview about how to start a digital design business with Kelli Mitchell. Kelli is the owner and principal designer of Pink Lemonade Company.
Kelli started her creative business offering website design and business branding in 2011. As her work and brand grew, Kelli focused on creating commercial use graphics, design, and business courses, and helping others grow their own online creative businesses.
Today’s interview on how to make money as a digital designer answers questions such as:
Today’s in-depth interview will help you get started with learning how to start a design business and perhaps even introduce you to a new way to make money from home.
You can learn more about how to start a digital design business by signing up for a free training from Kelli by clicking here. In this training, she shares the steps she took to start designing for others and how she grew her business to over $100,000 per year. She also shares the different design ideas that you can create and sell.
Hey there! The idea of my design business began because I needed a way to make money from home. I had been working 12-hour shifts at the local hospital, but I wasn’t feeling fulfilled in my job, I needed to earn more, and I needed more time to be with my kids. And while it was scary in the beginning, it has paid off well – in so many ways. PLC consistently brings in multi-six figure years with the bulk of my income coming from the graphics I design.
My business started somewhat as a side hustle offering design services and business branding because my full-time job was taking care of three small children. I wanted to be able to create a business that would give me plenty of time to be a mom. It was important for me to create a business that would work around my life, and not have all my hours consumed by my business.
When I first started out, I quickly became obsessed with Photoshop. I realized that I could create something in Photoshop, and turn around and sell it online. It became apparent that Photoshop was a playground where I could take my ideas and turn them into income. That fact really made my imagination come alive. Creativity turned into possibility and, as a result, my life changed rather drastically.
And, I must admit, I didn’t consider myself creative in the beginning. I often doubted myself, and questioned whether I was creative enough to make this happen. I had no experience in running a business. But I gave myself permission to follow what felt fun and I made the decision that I was committed to making it work no matter what.
A design business can really be so many different things, which I think is great for people who are wanting to have a creative business since they often have a lot of ideas and want to try so many different things.
I have, personally, sold a variety of different things in my own design business from website design and business branding, to digital papers, graphics, printables, t-shirt designs, sublimation design files, digital journal pages, and more.
One of the things I teach my students now is that by learning some solid design skills, you’re able to go in so many directions, create different products and services, and let your imagination run wild.
Since Photoshop is an endless playground and blank canvas where ideas can come to life the list is essentially endless. There are so many things that someone could create and sell with some skill and imagination.
Here is a list of 15 potential ideas for digital and graphic design:
Since the products and services that can be created from designing are so endless, there are a lot of different reasons people buy designs.
For example, they might buy a birthday invitation design from Etsy, or they might want to use a digital paper as a supply to create a holiday-themed printable banner. When I started out, I offered fun, brightly colored business card designs. I was able to bring a sense of fun to my work and, in turn, to somebody’s business branding.
A quick search on Etsy for “digital downloads” or “digital designs” can shed light on just how many types of designs are available and what different things they can be used for.
It’s such an open, endless field with so much potential – for the designer and the buyer.
The answer to this is dependent on a lot of factors, of course, such as how the designs are promoted, the marketing strategy involved, and quality of the designs but there are many people making really good money selling designs online.
Once I learned how to sell my designs effectively, I quickly went from bringing in around $8,000 a year to cracking that $100,000 a year mark.
My motto over the years has become ‘my ideas are limitless therefore my income is limitless’. And, it rings true.
One of the great things about having a design business is that you can design and sell digital download files. That gives you the option to mass sell one file. So, the file can be created once, and sold over and over again for passive income. You put the work up front, and then sell the file as many times as you want.
I will never forget when I sold my first graphic on Etsy. It was a $3 file and it felt like I had won the lottery because it was the best feeling in the world! I knew if I could sell one file, I could sell thousands.
When we tap into that potential, we can essentially create a business that doesn’t have an income cap. That doesn’t mean we don’t have to put in the work, but we can design our businesses to serve us and our lifestyles along with serving our customers.
In the private community where I hang out with my students, we often celebrate when someone makes money in their sleep because that’s one of our fun goals that we set in my course – Design Business in a Box. That kind of freedom is what I love helping people with because it changed my life and I love seeing it change other people’s lives, too.
Absolutely. I did.
More important than tech skills are a willingness to learn and a strong commitment to making it happen. And, sometimes we just need to start telling ourselves we are creative and go for it.
Self doubt can kill a business quicker than anything else. We have to let ourselves be bad at something so we can get good at something.
Ya know, I could probably list 100 reasons.
I’m very passionate about this because it really changed my life and how my family moves through life. But nobody has time for my list of 100, so I’ll give you my top three.
One big reason is that I still see Photoshop as this open space for my imagination where I can create something and sell it. And it still feels like so much fun.
The second reason is that I know I can have designs on my website, or in my membership site, and I can make money in the background while I’m out and about with my family and friends.
And reason number three would be because not only can I pay my bills, and have money to make my life easier, I also get a sense of creative fulfillment and that has been very beneficial to me. I still get to show up to work excited and feel this enthusiasm for what I get to do. I’m really grateful for that.
Yes, 100%. I don’t believe in the idea of market saturation.
I believe there will always be room for more art, more books, more creativity, etc.
Now, I will say that I think you need to know not only how to create designs but how to sell them as well. I believe that once you know how to sell your designs, implement marketing strategies that work, and how to call in your audience, then you can make it work for you.
I think having an awareness and appreciation of life and all that surrounds us is the quickest way to come up with new ideas. I always keep a notebook or the notes app on my phone filled with ideas as they come to me.
I don’t usually follow trends or try to stay ahead in that way, I usually just pay attention to what feels fun to me and what I feel called to design.
If I’m stuck on what to design next, that’s when I know I need to get out from behind my desk, and go play, do something fun, or go for a walk and let inspiration come to me.
Fortunately, because of where we are with the internet and technology today, you don’t need much.
A computer, Photoshop, and an Etsy shop was all I started with in the beginning.
Not a lot, especially compared to how much money you would have to have to start a business even 30 years ago, for example. There isn’t a need to go take out a large loan and set up a brick and mortar on main street. I was beyond broke when I started out on my venture.
Designing digital files doesn’t require a large warehouse for physical inventory and you can run this business from your kitchen table, like I did in the beginning.
So, while you’ll need some money to begin with, it will vary depending on what you use in the beginning, the start up costs are considerably nominal.
For sure! Before getting started, I recommend doing a little ‘pre-work’. Just allowing yourself to dream a bit and think of the possibilities will be helpful.
If the idea of earning a living or starting a side hustle in designing appeals to you, then make a commitment to yourself. I had that ‘line in the sand’ moment where I made the decision and just went all in.
I also made a list of why I wanted to do this – and how my life could change for the better if I made this work. I really recommend doing that so you can start with some momentum, and then you have a list of your big reasons why you’re doing this when your momentum starts to wane a bit. Really zeroing in on what you could gain from having a successful design business could be immensely beneficial.
Once you’ve done the pre-work, you’re ready for the next steps!
Step One – Do some online research. You can start by searching on Etsy or browsing Pinterest for different design ideas. Take notice of what feels fun to you. This really helped me not get overwhelmed in the beginning since there were so many different things I could potentially create and sell. I was drawn to designing for other businesses, and helping people get started with business branding. I loved the idea of creating a logo, with business cards, and matching marketing materials. So, make a list of what feels the most fun for you to create and start there. You can always add to the list, or try something new down the line.
Step Two – Learn how to design. I’m a big fan of Photoshop, but there are lots of options out there. However, I would not be doing you any favors if I didn’t mention this (because I always get asked about this). Canva is great. I use it myself for certain things, but Photoshop is an industry giant and there are things it can do that Canva just can’t. Can you use Canva for designing? Of course, you can. But just know it has its limits. With Photoshop, you’ll get professional level editing and complete creative control.
Step Three – Set up a website or Etsy shop. There are lots of online videos and articles to help you find what options would be best for you. Google can definitely be your best friend when starting a new business. I would use Google endlessly when I first started. Pinterest also has some excellent tips for new business owners, too.
Step Four – Set up your social media presence. Whether that’s Facebook, Instagram, TikTok, YouTube, any and all of those and more, social media can help you share your designs and connect with those who are needing what you have to offer.
Step Five – Start building an email list. This is something I didn’t do in the beginning that I should have. Growing my email list has been one the most helpful things in my business. I can share what I’m working on, market to my loyal customers, nurture my new subscribers, and more. I use (and love) ConvertKit, but as I tell my students “D.Y.O.R.” Do your own research to find a solution that will work best for your business.
Step Six – Create and Deliver. Create amazing designs, and deliver an amazing customer experience!
A little belief in yourself will go a long way.
I didn’t know what my business was going to look like exactly but I made the decision to try. I had a lot of fear but one thing that helped me move past the fear was to get excited about what could go right, and how this could really change my life.
I also recommend finding a community of creative business owners who can help encourage you and give you inspiration for what is possible for you. I’d love to welcome you into my private community where I help aspiring and seasoned designers alike.
Of course! I have a free training where you can learn more about digital design and getting paid to create. I’m sharing more of the steps I took to start designing for others and how I grew my business into a brand that brings in multi-six figures a year.
We’ll also look at some different ideas that you can create and sell. I’ll send you a short video a day for five days. You can join us for free here if you’re interested.
Are you interested in learning how to start a digital design business and how to make money as a digital designer?
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Source: makingsenseofcents.com
From its historic neighborhoods to its parks and rivers, Fort Wayne is full of surprises. This Indiana town has one of the country’s best zoos and a number of popular museums. Considered one of the most affordable cities in Indiana, paying less for rent could mean you’ll have a slightly bigger budget to explore the city and find your favorite spots.
Here’s what some Fort Wayne locals are saying about the best places to check out in Summit City.
Ask locals about their favorite hidden gem and many are quick to point to a coffee shop. In the Northwest area of town, you can stop in at Five Lakes Coffee for a cup of Joe as one option.
Christine Miller of Christine Danae Photography has trouble narrowing down her favorite coffee spots. Though, two notable frontrunners are The Perk Coffee House and Mocha Lounge. The Perk provides, “fantastic coffee and a fabulous environment to meet up with people and get work done,” says Miller. Mocha Lounge also has fantastic coffee and a “great atmosphere.”
There’s nothing like a solid dessert place, and Hope Denton of Hope Denton Photography LLC recommends Sassie Cakes. Located right in Downtown Fort Wayne, this custom cake shop also features regular in-store treats like sandwich cookies, macarons and cookie dough shots.
“Sassie’s has the best cakes I have ever tasted, and is sure to wow you!” says Denton. Her favorite is red velvet.
For Paul Smith of Five Lakes Coffee, a favorite stop in the city is Sweetwater. This music megastore has its own hidden gem inside. It’s the acoustic guitar room, where Smith loves the sounds.
To make your exploration of Fort Wayne family-friendly, Amy DeLap of Kiss My Grass Soapery is quick to pick a trip to the Fort Wayne Children’s Zoo as a fun way to spend the day.
Also located in the northwest section of Fort Wayne, the Zoo features African, Australian and Indonesian sections in addition to the central zoo. There are also a few rides, animal keeper chats and special animal experiences, including the opportunity to feed a stingray.
Mark Smith of The Light House Coffee Bar recommends catching a Tin Caps game to really experience the true heart of this city. This minor league baseball team plays in Parkview Field downtown.
While Coney Island is known as a New York City amusement park, in Fort Wayne, it’s a locally -loved restaurant. More than that, Fort Wayne’s Famous Coney Island is the oldest coney stand in the country, opening its doors in 1914.
The menu hasn’t changed much in the last 100+ years either, and the restaurant sells hundreds of hot dogs each day along with burgers, chili and pie.
Within the city limits, you’ll find the convergence of the St. Marys River, the St. Joseph River and the Maumee. Fort Wayne naturally lends itself to outdoor activity. Along the riverfront, you have access to boat tours and river excursions along with self-guided kayaking, canoeing and paddle boarding. There are also plenty of river-side hiking and bike trails.
Fort Wayne has no shortage of parks to enjoy as well. Some local favorites include:
The Foellinger-Freimann Botanical Conservatory is yet another spot in Fort Wayne to connect with nature. Located in the city’s Southwest area, the Conservatory features seasonal flowers and plants beside a tropical garden, desert garden and more.
Suggestions for other hidden gems in Fort Wayne can really help you find places that cater to your interests. The city’s diverse assortment of restaurants, music venues, bars and more allow anyone to enjoy their favorite pastime. Our local experts had a diverse assortment of recommendations to share.
For foodies:
For entertainment seekers:
For beer drinkers
Where to next?
Not entirely convinced that a mid-size Midwestern city has enough to offer? Get out there and check it out yourself. The variety of activities and emerging small business scene make Fort Wayne a city that you need to experience for yourself. If you stop by one of the hidden gems on this list, tell them we sent you!
Source: rent.com
The inflation readings this week came in soft, helping to keep mortgage rates on the lower side. We still have some key economic reports out on Friday that could impact that direction of rates. Long-term, the expectation is still for rates to move higher so borrowers will likely want to lock in a rate soon. Read on for more details.
At the start of the week we knew we were going to be dealing with several important inflation reports that could impact the direction of the markets.
Last Friday we got a softer than expected average hourly earnings reading in the monthly jobs report for February, so investors were eager to find out if that was a one-off instance or reflective of a broader trend.
After this mornings weaker than expected Retail Sales and Producer Prices reports, it’s clear that inflation had a slow month in February.
Inflation talk has been center stage the past few months after we got some standout readings in several reports, but the situation has now tempered, leading financial market participants to believe that the Federal Reserve will not be raising the federal funds rate as aggressively in 2018 as some had been starting to claim.
This has caused investor appetite for bonds to increase somewhat, pushing down yields. The yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, is down to 2.83% today.
That’s about seven basis points below the week’s high of 2.90%. Mortgage rates typically move in the same direction as the 10-year yield, so rates have improved over the last twenty-four hours.
Mortgage rates have slowed their climb over the last couple of weeks, which is good news for anyone looking to purchase or refinance.
However, the consensus among market analysts is that they will continue to climb throughout 2018, so if you’re thinking about locking in a rate sometime in the near-future, you’re best bet is likely to do it sooner rather than later.
It only takes a couple minutes online or a quick phone call to one of our loan officers to get started.
Producer Prices ticked up 0.2% in February, putting them at 2.8%, year over year. PPI-FD less food and energy also rose 0.2% in February, bringing it to 2.5%, year over year. PPI-FD less food, energy and trade services jumped up 0.4% in February, putting it at 2.7%, year over year.
Retail sales unexpectedly fell 0.1% in February. Retail sales less autos rose 0.2%. Retail sales less autos and gas rose 0.3%.
Inventories ticked up 0.6% in January. That’s slightly higher than the 0.5% that was expected.
For the week of 3/9/18:
*Terms and conditions apply.
Source: totalmortgage.com
Mortgage rates are on track to finish out the week lower than where they started for the first time in 2018. This is obviously good news for borrowers looking to buy a home or refinance their current mortgage. If you want to take advantage of the dip, you should try and act quickly because rates could jump at a moment’s notice. Read on for more details.
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Market Recap 3.16.18 from Total Mortgage on Vimeo.
We got some strong economic data this morning, with consumer sentiment hitting a 14-year high, job openings hitting an all-time high, and industrial production with its biggest jump in four months.
The positive readings have helped push all of the major stock market indexes higher. With more investors going into stocks, fewer are in bonds, pushing up Treasury yields.
The yield on the 10-year Treasury note has moved up a little over two basis points to 2.85%. That’s still about five basis points below where it was during the week’s high on Monday.
Mortgage rates are on track to wind up lower than where they started the week for the first time in 2018. This is great news for anyone who is thinking about purchasing a new home or refinancing their current mortgage.
Rates are expected to continue their climb and move significantly higher by the time 2019 rolls around, so we’re recommending that borrowers take action sooner rather than later to try and get the best deal.
Housing starts came in at an annualized rate of 1.236 million for February, while permits hit an annualized rate of 1.298 million.
Production ticked up 1.1% in February. Manufacturing rose 1.2%. Both of those readings are well above the mark that analysts had expected.
Consumer sentiment hit a 102.0 in March. That’s well above the 98.8 that analysts had called for and is a 14-year high. Notably, inflation expectations are up 2 tenths to 2.9%.
According to the latest report from the Labor Department, there were 6.312 million job openings in January.
*Terms and conditions apply.
Source: totalmortgage.com
New Silver, a private lender located in Connecticut that specializes in providing lending to real estate investors, is a major success story. From their recent founding and work in the New England area to their growth across the country to provide lending in a number of states.
Founded in 2018, New Silver’s founding fathers include managing partners Alex Shvayetsky and Kirill Bensonoff. Shvayetsky has a proven track record of more than 25 years working in the real estate sector with a focus on real estate management, property development, and investment. Bensonoff is a tech entrepreneur that has founded and successfully exited companies in enterprise IT and fintech.
Right from its early founding, New Silver wasted no time providing innovative financial services to real estate investors and entrepreneurs. Success came quickly, leading this fintech company to take on bigger and more ambitious projects, with the most recent being the financing of a 50-unit commercial apartment complex in Connecticut to the tune of $2.6 million. This is in addition to its earlier successes in both the residential and commercial markets, where it has aided entrepreneurs in the purchase, refurbishment, and then flipping of a number of properties.
New Silver takes a novel and thoroughly modern
approach to real estate finance. New Silver enables its’ borrowers to gain
access to the working capital they need through a streamlined and hassle-free
process that can provide borrowers conditional approval on financing in 10
minutes or less. In addition, New Silver’s tech-first approach helps the
company to reduce risk by looking closer at the underlying data.
This is just one of many examples of how New Silver has differentiated itself from the pack when it comes to your typical real estate lending facilitator. With a displayed commitment to staying as current as possible when it comes to the newest developments in the financial tech sector, New Silver’s dedicated staff keep a close eye on the industry. As a result, it’s likely to find New Silver represented at a number of conferences throughout the year in an effort to better serve borrowers to the excellent standard to which they have been accustomed.
The real estate lending industry is a crowded
one. There are a number of lenders that an entrepreneur can approach, and New
Silver knows this — that’s why the company is committed to differentiating
themselves through providing exemplary customer service. You won’t find the
company referring to itself as a “great lender’, as Shvayetsky and
Bensonoff are refreshingly humble when it comes to their accomplishments, but
the primary driver for these managing partners is to have a laser-like focus
when interacting with borrowers, lending partners, and even internal staff.
It’s all about personal attention and clear
communication with New Silver. As a customer service strategy it’s been a clear
winner, as staff say it’s been an overwhelmingly effective method for learning
what people need and how to then deliver on that need. The tactic dovetails
with the other drive behind New Silver, which is to aid in the success of real
estate entrepreneurs. Borrowers that
partner with the company gain the benefits of New Silver’s attention to detail
and its eagerness to embrace technological developments, such as data-gathering
APIs, in order to make personalized lending more accessible.
New Silver might have gotten its start in the Northeast of the United States, but this lender is expanding quickly, and its’ products are now available to real estate investors in CT, RI, MA, NY, NJ and FL, with more to come. Thanks to its innovative approach and already proven track record, it’s quite clear New Silver bears watching for future success.
For more information on how to obtain a loan contact New Silver at 1 855 844-Loan or follow us on Facebook and LinkedIn.
Source: realtybiznews.com
Current mortgage rates are moving sideways today. We got a Consumer Price Index reading that was underwhelming, signaling to investors that the Fed might not be reading to hike rates at an aggressive pace just yet. Our recommendation remains, however, for borrowers to lock in a rate sooner rather than later. Read on for more details.
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Market Outlook 3.12.18 from Total Mortgage on Vimeo.
It’s another snowy morning here Connecticut. If there’s anything more fickle than mortgage rates, it’s the weather in New England. Anyway, the big economic event for the day was the Consumer Prices Index.
Financial market participants were let down by the average hourly earnings reading in the monthly jobs report for February last Friday, and therefore eagerly anticipating another inflation reading today.
In similar fashion, the CPI reading came in with a mere 0.2% rise from the previous month. Anyone looking for a breakout in inflation was sorely disappointed.
The resulting market reaction was what you would expect, stocks moving higher and Treasury yields moving lower. The yield on the 10-year Treasury note (which is the best market indicator of where mortgage rates are going), dropped down a few basis points right after the report was released.
However, we’ve seen the 10-year yield inch back up to where it started the day since then. Mortgage rates typically move in the same direction as the 10-year yield, so we’re seeing rates just about flat on the day.
Mortgage rates have increased dramatically so far in 2018. The end doesn’t seem to be anywhere in sight, either, as many analysts are calling for the 30-year fixed rate to climb all the way up past 5% at some point this year.
Given this expectation, the smart decision for most borrowers is going to be to lock in a rate as soon as possible. The longer you wait on a purchase or refinance, the more likely it is you’ll be paying more with a higher rate.
The NFIB Small Business Optimism Index hit a 107.6. That’s slightly higher than the 107.0 that analysts had expected. This is the second highest level in the history of the reading.
Consumer Prices ticked up 0.2% from the previous month in February. That puts it up 2.2%, year over year. CPI less food and energy also rose 0.2%, month over month, bringing it to 1.8%, year over year.
*Terms and conditions apply.
Source: totalmortgage.com