Known as the Grand Canyon State, Arizona is renowned for its stunning desert landscapes, rich history and vibrant southwestern culture. Amidst the beauty of the Sonoran Desert, four cities stand out as the best college towns in Arizona.
The cities below offer students an unparalleled college experience, with top-notch educational institutions, diverse cultural attractions and a wealth of outdoor recreational opportunities.
Located in the heart of the Valley of the Sun, Tempe is a bustling city with youthful energy and a rich cultural scene. The city is home to Arizona State University, one of the largest public universities in the United States. Founded in 1885, ASU is known for its innovative approach to education, top-tier research programs and a strong commitment to sustainability. With a diverse range of academic offerings, a vibrant campus life and a prime location in the thriving Phoenix metropolitan area, ASU has earned its place among the best college towns in Arizona.
Tempe offers a wealth of cultural attractions and entertainment options for students and visitors alike. The Tempe Center for the Arts and the ASU Art Museum showcase the city’s thriving arts scene. History buffs can explore Arizona’s past at the Tempe History Museum or take a stroll around the historic Hayden Flour Mill.
Outdoor enthusiasts will find plenty to do in and around Tempe, with the picturesque Papago Park providing the perfect settings for hiking, biking and more. The city’s culinary scene is as diverse as its landscape. Students in the city can often be found chowing down at places like Culinary Dropout and Ghost Ranch. Tempe’s vibrant nightlife, with popular venues like the Marquee Theatre and Mill Avenue’s lively bars, provides the perfect playground for unforgettable college memories.
Nestled in the beautiful Sonoran Desert, Tucson is a southwestern gem with a rich history and a thriving arts scene. The city is home to the University of Arizona, a well-respected research institution with a strong emphasis on interdisciplinary learning and innovation. The University of Arizona offers a diverse array of academic programs, state-of-the-art facilities and a vibrant campus life that attracts students from around the globe.
Tucson’s cultural attractions are wide in their appeal, with a wealth of museums, galleries and performance spaces to explore. The Arizona State Museum, the Tucson Museum of Art and the Center for Creative Photography showcase the city’s artistic and historical heritage, while live performance venues pepper the neighborhoods surrounding the campus.
The great outdoors is never far away in Tucson, with the stunning Saguaro National Park and the beautiful Sabino Canyon providing ample opportunities for hiking, biking and wildlife watching.
The city’s culinary scene is a testament to its rich multicultural heritage, with popular eateries like El Charro Café, Prep & Pastry and The Dutch DAM Good Food offering a taste of Tucson’s unique flavors. From lively bars and clubs on 4th Avenue to the eclectic shops and cafes of the historic downtown area, Tucson’s vibrant cityscape offers students the perfect setting for a truly unforgettable college experience.
Nestled among the ponderosa pines and the majestic San Francisco Peaks, Flagstaff is a mountain oasis with a rich cultural heritage and a strong commitment to sustainability. The city is home to Northern Arizona University (NAU), a comprehensive public university known for its outstanding academic programs, especially in forestry, environmental science and education. NAU offers a diverse range of degree programs, a close-knit campus community and a stunning natural setting, making it a top choice for students seeking an exceptional college experience in one of the best college towns in Arizona.
Flagstaff’s vibrant arts scene offers a wealth of experiences for students and visitors alike. The city’s historic downtown area is home to numerous galleries, theaters and museums, including the Museum of Northern Arizona and the Flagstaff Symphony Orchestra.
Outdoor adventure is at the heart of the Flagstaff experience, with the beautiful Coconino National Forest and scenic Arizona Snowbowl ski resort providing ample opportunities for hiking, skiing and so much more. Flagstaff’s lively nightlife, with popular venues like the Monte Vista Lounge and the Flagstaff Brewing Company, offers the perfect setting for students to unwind after hitting the books all day.
A charming historical retreat nestled in the scenic Bradshaw Mountains, Prescott offers students a unique blend of small-town charm, rich history and an emerging arts scene. The city is home to Embry-Riddle Aeronautical University (ERAU) and Prescott College, both renowned for their specialized academic programs and close-knit campus communities. ERAU is a top institution in aviation and aerospace education that offers cutting-edge programs in aeronautics, engineering and related fields. Prescott College, on the other hand, focuses on liberal arts, environmental studies and experiential learning, providing a truly personalized educational experience.
Prescott boasts a healthy selection of cultural attractions for students and visitors to explore. The Sharlot Hall Museum and the Elks Theatre and Performing Arts Center showcase the city’s rich history and creativity. History buffs can stroll around the historic Whiskey Row and nature lovers can explore the Heritage Park Zoological Sanctuary.
The city’s culinary scene is nothing to scoff at either, with popular bars and eateries like The Raven Cafe and Ad Astra Brewing Company offering a taste of Arizona’s unique flavors. Thanks to its enchanting blend of history, culture and natural beauty, Prescott proudly claims its spot among the best college towns in Arizona.
These Arizona college towns have it all
With its breathtaking desert landscapes, Arizona is a state with rich cultural heritage and top-quality educational institutions. Each of the cities mentioned above boasts a unique blend of outstanding academic opportunities, vibrant arts scenes and strong selections of outdoor recreational activities.
For students seeking a college experience that is both academically enriching and personally fulfilling, these stellar college towns are undoubtedly among the best in Arizona. Pack your bags, grab your sunscreen and embark on an unforgettable journey into the heart of the Grand Canyon State.
By Peter Anderson1 Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited October 8, 2012.
In the past when looking at the 401(k) account type and the rules associated with it, one thing I’ve talked about is how I’ve avoided contributing to my 401k because my company has never really done matching contributions. (If your company does match contributions, by the way, I’d highly recommend taking part as it can mean an instant return on your money.)
My strategy in the past has been contributing to a Roth IRA with Vanguard because it has more investment options, and the costs are generally lower. Basically our plan at work has been one with only a few mutual fund options, and almost all of them were high cost.
In the past 6 months our company changed 401(k) plan administrators, and in the process our investment options got a lot better. While there are still no 401(k) matching contributions, we now have more mutual funds to choose from, including a wide variety of low cost index funds. We also now have two plan options, a regular 401(k) and a Roth 401(k). That means we can now diversify our investing to cover both pre-tax and post tax investing. Nothing like hedging your bets when it comes to current and future tax rates and current and future income!
So once again I’ll be investing via my workplace by doing split contributions in my new 401(k) and Roth 401(k). Today I thought I’d look at some of the 401k contribution limits, rules and regulations when it comes to the 401k portion of my investing plan, as the IRS released their new guidelines this week.
Details Of The 401(k)
I always start this out with quick overview of the 401(k) account type from Wikipedia:
A 401(k) is a type of retirement savings account in the United States, which takes its name from subsection 401(k) of the Internal Revenue Code. 401(k)s were first widely adopted as retirement plans for American workers, beginning in the 1980s. The 401(k) emerged as an alternative to the traditional retirement pension, which was paid by employers. Employer contributions with the 401(k) can vary, but in general the 401(k) had the effect of shifting the burden for retirement savings to workers themselves. In 2011, about 60% of American households nearing retirement age have 401(k)-type accounts.
Contribution Limits For 401(k)
The 401(k) has contribution limits tied into the plan. The 401k contribution limits have increased since last year due to an increase in the consumer price index. The following table will show the maximum yearly contribution for the 401k account type every year since 2007.
Year
401k Contribution Limit
2007
$15,500
2008
$15,500
2009
$16,500
2010
$16,500
2011
$16,500
2012
$17,000
2013
$17,500
2014
$17,500
2015
$18,000
2016
$18,000
2017
$18,000
2018
$18,500
2019
$19,000
2020
$19,500
2021
$19,500
2022
$20,500
2023
$22,500
The past 6 years have seen an increase of $1500 in the contribution limits. For 2013 I wouldn’t expect any major changes, especially with the increase this year.
Employer Contribution Limits For 401(k)
If your employer is offering a contribution to your 401k, by all means take it! It’s like getting a nice raise! Usually employers will make a matching contribution of a certain percentage of your salary, for example 50% up to the first 6% of your salary.
Highly compensated individuals may also be subject to additional contribution limits put in place by their employer’s plan, so check with your plan administrator.
Catch-Up Contribution Limits For 401(k)
If you are at or over the age of 50 by the end of the 2012 tax year, you can also make catch-up contributions to your 401(k). Not all plans allow this, but for the ones that do, here are the catch up contribution limits:
Year
401k Catch-Up Contribution Limit
2007
$5000
2008
$5000
2009
$5500
2010
$5500
2011
$5500
2012
$5500
2013
$5500
2014
$5500
2015
$6000
2016
$6000
2017
$6000
2018
$6000
2019
$6000
2020
$6500
2021
$6500
2022
$6500
2023
$7500
Do Employer Matching Contributions Affect Your Limit?
One question that I’ve heard quite a bit is whether an employer’s contributions to your 401k account will affect how much you as the employee can contribute. Are the contribution limits shared? The quick answer is no. The employer and employee each have a separate contribution limit, effectively increasing the amount you can invest if you have employer contributions.
Example: If someone makes $100,000 in pre-tax compensation, and they contribute $17,000 and the employer contributes $6,000 by the employer for a total of $23,000. If they’re over 50 they could also make catch up contributions for a total of $28,500.
Other Things To Consider
There are other things you may need to consider with your 401(k) plan. For example,currently the max you can contribute to a401(k) plan is $50,000 or 100% of your compensation, whichever is less. Also, if you’re a highly compensated individual at your company you may be subject to separate contribution limits.
Are you currently contributing to a 401(k) plan through your work? Tell us what you think about the limits, and if you’ll be able to reach them.
If you’re in need of a VA loan, one mortgage company that deals almost exclusively in them goes by the name “ClearPath Lending.”
Roughly 99% of the home loans they originated last year were VA loans, and they were pretty much all refinance loans as well.
That means there’s a high likelihood ClearPath Lending knows what they’re doing when it comes to funding a VA loan quickly and competently.
Let’s learn more about this Southern California-based mortgage lender to see if they could be a good choice for your veteran home loan needs.
ClearPath Lending Fast Facts
Direct-to-consumer mortgage lender that offers purchase and refinance loans
Specializes in VA lending which comprises about 99% of their overall volume
Founded in 2012, headquartered in Irvine, California
Funded $5.57 billion in home loans during 2020
Currently licensed to do business in 29 states nationwide
Most active in California, Florida, and Texas
ClearPath Lending is a direct-to-consumer mortgage lender located in Irvine, California, which is basically the epicenter of the mortgage industry on the West Coast.
The operate a call center, but no physical branches, so you’ll be working remotely with their lending team to close your loan.
Last year, they originated a whopping $5.57 billion in home loans, which makes them almost a top-100 mortgage lender nationally.
While they originated a large amount of loans in over a dozen different states, they were most active in California, Florida, Texas, Virginia, and Arizona.
As noted, most of the loans they fund are VA refinance loans, likely Interest Rate Reduction Refinance Loans (IRRRL).
They are currently licensed in 29 states, with Minnesota, Missouri, New York, Utah, and Washington some of the more notable places where they don’t do business.
How to Apply with ClearPath Lending
Call them or fill out a short contact form on their website to get started
A loan officer will call you to discuss loan eligibility and pricing
If you like what you hear they’ll provide a link to a full mortgage application
Once submitted you can manage your loan via the online borrower portal
To get started, you can either call them up directly or visit their website to fill out a short contact form.
There doesn’t appear to be a way to formally apply for a mortgage on your own without human assistance.
While this is a slight negative, you might be better off speaking to someone first to determine eligibility and to get loan pricing.
If you like what you hear, they’ll provide a link to formally apply via their website. It’s unclear what origination software they use, but my guess is you can complete most tasks electronically.
Once your loan has been submitted, you can visit the ClearPath Lending Portal to check on loan progress, upload necessary documents, and message your lending team with questions.
Loan Programs Offered by ClearPath Lending
Home purchase loans
Refinance loans: rate and term, cash out, and streamline
Conventional loans
Jumbo loans
FHA loans
VA loans (their specialty)
ClearPath Lending has a decent menu of loan programs available, from conventional loans to FHA to jumbo.
But their specialty is clearly the VA loan, which makes up a staggering 99% of their overall loan volume.
They’re also decidedly a refinance shop, with just about every loan that passes through their doors a refi as opposed to purchase.
However, they do offer home purchase loans, along with FHA loans and loans backed by Fannie Mae and Freddie Mac.
The only major loan type missing is the USDA loan, which is a niche product for those buying or living in rural parts of the United States.
In terms of loan type, you can get a fixed-rate mortgage like a 30-year or 15-year fixed, or an adjustable-rate mortgage, such as a 5/1 or 7/1 ARM.
You can also get a custom loan term if you don’t want to reset the clock on your mortgage.
ClearPath Lending Mortgage Rates
You won’t find daily mortgage rates on the ClearPath Lending website, which is a shame. Nor will you see a list lender fees.
It’d be helpful to see these things to quickly determine how competitive they are relative to other lenders. But you’ll have to get a personalized quote to find that out.
The good news is they say they guarantee the best pricing for your loan.
If you obtain a better quote from a competitor, simply get in touch with your loan officer to discuss their “best price guaranteed policy.”
Either way, they claim their pricing is among the most competitive in the mortgage industry, so you should be able to obtain a decent rate.
Just take the time to shop competitors as well to be sure, and inquire about those lender fees while you’re at it.
Once your loan closes, they’ll also enroll you in their so-called “Loyalty Program,” which monitors interest rates and lets you know if you could benefit from a refinance.
They say no underwriting or processing fees will be added to the principal balance, but it’s unclear if these fees are completely waived the second time around.
The process may also be faster if they already have most of your prior documents on file, and you can keep your existing loan term if you wish to pay off your loan on schedule.
ClearPath Lending Reviews
On Google, the company has a stellar 4.8-star rating out of a possible 5 from nearly 3,000 customer reviews.
And on LendingTree, a 4.9 out of 5 from about 1,200 reviews with a 99% recommended score.
Additionally, they have a 4.7/5 on ConsumerAffairs from about 250 ratings, with the majority perfect 5-star reviews.
Over at Zillow, it’s more of the same, a 4.9-star rating from roughly 130 reviews. A good chunk of them indicate that the interest rate received was lower than anticipated.
They’ve also got a 4-star rating on Yelp from about 80 customer reviews
In terms of Better business Bureau rating and accreditation, those are in limbo right now because their business profile is being updated.
But they were an accredited business in the past, so there’s a chance they might be in the future and that will be reflected once the BBB website is updated.
To sum things up, ClearPath Lending seems to be laser-focused on VA lending, and specifically VA refinance loans.
So if you’re a veteran homeowner interested in refinancing your loan, they could be a suitable choice.
My assumption is they’re good at what they do, given their dedication to one specific product.
But if you’re looking for something else, such as home purchase financing or a conventional or FHA loan, they might not be the first choice.
ClearPath Lending Pros and Cons
The Pros
Can apply for a mortgage online
Online borrower portal to manage your loan
Say they have a best price guaranteed policy
Good selection of loan programs to choose from
Specialize in VA loan lending
Excellent customer reviews across all ratings sites
Free mortgage calculators on site
Loyalty Program monitors mortgage rates and notifies you if a better deal is available
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
36k salary is a solid hourly wage; above most minimum hourly wage jobs.
For most people, an entry-level job would be paying just over $36,000 a year. The question that remains is can you make a living off $36k a year.
The median household income is $67,521 in 2020 which decreased by 2.9% from the previous year (source). Think of it as a bell curve with $68K at the top; the median means half of the population makes less than that and half makes more money.
The average income in the U.S. is $48,672 for a 40-hour workweek; that is an increase of 4% from the previous year (source). That means if you take everyone’s income and divided the money evenly between all of the people.
But, the question remains can you truly live off 36,000 per year in today’s society since it is well below both the average and median household incomes? The question you want to ask all of your friends is $36000 per year a good salary.
In this post, we are going to dive into everything that you need to know about a $36000 salary including hourly pay and a sample budget on how to spend and save your money.
These key facts will help you with money management and learn how much per hour $36k is as well as what you make per month, weekly, and biweekly.
Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…
Can I make a living on this salary?
$36000 a year is How Much an Hour?
When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 36k a year hourly. That way you can decide whether or not the job is worthwhile for you.
36000 salary / 2080 hours = $17.31 per hour
$36000 a year is $17.31 per hour
Let’s breakdown how that 36000 salary to hourly number is calculated.
For our calculations to figure out how much is 36K salary hourly, we used the average five working days of 40 hours a week.
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $36000 by 2,080 working hours and the result is $17.31 per hour.
Just above $17 an hour.
That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.
What If I Increased My Salary?
Just an interesting note… if you were to increase your annual salary by $7K to $43K per year, it would increase your hourly wage to over $20 an hour – a difference of $3.36 per hour.
To break it down – 43k a year is how much an hour = $20.67
That difference will help you fund your savings account; just remember every dollar adds up.
How Much is $36K salary Per Month?
On average, the monthly amount would be $3,000.
Annual Salary of $36000 ÷ 12 months = $3000 per month
This is how much you make a month if you get paid 36000 a year.
$36k a year is how much a week?
This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $36k salary a year, how much can I expect to make at the end of the week for my effort?
Once again, the assumption is 40 hours worked.
Annual Salary of$36000/52 weeks = $692 per week.
$36000 a year is how much biweekly?
For this calculation, take the average weekly pay of $692 and double it.
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x 52 weeks = 260 working days
Annual Salary of$36000 / 260 working days = $138 per day
If you work a 10 hour day on 208 days throughout the year, you make $173 per day.
$36000 Salary is…
$36000 – Full Time
Total Income
Yearly Salary (52 weeks)
$36,000
Monthly Salary
$3,000
Weekly Wage (40 Hours)
$692
Bi-Weekly Wage (80 Hours)
$1,384
Daily Wage (8 Hours)
$138
Daily Wage (10 Hours)
$173
Hourly Wage
$17.31
Net Estimated Monthly Income
$2,290
Net Estimated Hourly Income
$13.21
**These are assumptions based on simple scenarios.
36k a year is how much an hour after taxes
Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with an all-salary range up to $142,800.
When you make below the average household income, the amount of taxes taken out hurts your hourly wage.
Every single tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
So, how much an hour is 36000 a year after taxes?
Gross Annual Salary: $36,000
Federal Taxes of 12%: $4,320
State Taxes of 4%: $1,440
Social Security and Medicare of 7.65%: $2,754
$36k Per Year After Taxes is $27,486
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$27486 ÷ 2,080 hours = $13.21 per hour
After estimated taxes and FICA, you are netting $27,486 per year, which is $8,514 per year less than what you expect.
***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***
Taxes Based On Your State
In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody that lives in a no tax state like Texas or Florida. This is the debate of HCOL vs LCOL.
Thus, your yearly gross $36000 income can range from $24,606 to $28,926 depending on your state income taxes.
That is why it is important to realize the impact income taxes can have on your take home pay. It is one of those things that you should acknowledge and obviously you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $36,000 income.
How Much Is 36K A Year Hourly Salary Calculator
More than likely, your salary is not a flat 36k, here is a tool to convert salary to hourly calculator.
Many entry-level jobs start at this range, which may make you believe that a business degree is worth it.
36k salary lifestyle
Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person? And there’s no wrong or right, it is what works best for you.
One of the biggest factors to consider is your cost of living.
In another post, we detailed the differences of living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $36,000 a year is going to be extremely difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower cost area.
To stretch your dollar further in the high cost of living area, you would have to probably live a very frugal lifestyle and prioritize where you want to spend money and where you do not. Whereas, if you live in a low-cost of living area, you can afford the cost of living and maybe save more money. Thus, you have more fun spending left in your account each month.
As we noted earlier in the post, $36,000 a year is well below the average income that you would find in the United States. Thus, you have to be wise in how you spend your money.
What a $36,000 lifestyle will buy you:
If you are debt free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.
You are able to rent in a decent neighborhood in LCOL.
Driving a beater car is normal.
You should be able to meet your basic expenses each and every month.
Not be able to afford many of the fun spending luxuries.
Ability to make sure that saving money is a priority, and very possibly save $5000 in one year.
When A $36,000 Salary Will Hold you Back:
However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 36k a year is going to be pretty darn difficult.
There are two factors that will keep holding you back:
You must pay off debt and cut all fun spending and extra expenses.
Break the paycheck-to-paycheck cycle.
It is possible to get ahead with money!
It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.
$36K a year Budget – Example
As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money leftover is left for fun spending.
If you want to know how to manage a 36k salary the best, then this is a prime example for you to compare your spending.
You can compare your budget to the ideal household budget percentages.
recommended budget percentages based on $36000 a year salary:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$150
Savings
15-25%
$450
Housing
20-30%
$884
Utilities
4-7%
$135
Groceries
5-12%
$270
Clothing
1-4%
$18
Transportation
4-10%
$135
Medical
5-12%
$150
Life Insurance
1%
$8
Education
1-4%
$8
Personal
2-7%
$24
Recreation / Entertainment
3-8%
$60
Debts
0% – Goal
$0
Government Tax (including Income Tatumx, Social Security & Medicare)
15-25%
$710
Total Gross Monthly Income
$3000
**In this budget, prioritization was given to basic expenses and no debt.
Is $36,000 a year a Good Salary?
As we stated earlier if you are able to make $36,000 a year, that is a low salary. You are making around or just above minimum wage.
While 36000 is a decent salary just starting out in your working years, it is a salary that you want to rapidly increase before your expenses go up or the people you provide for increase. If not, you will be left working multiple jobs to make ends meet.
However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. And what they thought used to be a great salary actually is not making ends meet at this time.
This $36k salary would be considered a lower class salary. You must make each dollar count in your budget.
Check: Are you in the middle class?
In fact, this income level in the United States has enough buying power to put you in the top 95 percentile globally for per person income (source).
The question you need to ask yourself with your 36k salary is:
Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?
In the future years and with possible inflation, in many modest cities 36,000 a year is not a good salary because the cost of living is so high, whereas these are some of the cities where you can make a decent living at 36000 per year.
If you are looking for a career change, you want to find jobs paying at least $45000 a year.
Is 36k a good salary for a Single Person?
Simply put, you can make it work.
You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.
Your living expenses and ideal budget are much less. Thus, you can live comfortably for $36000 per year.
And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.
Is 36k a good salary for a family?
Many of the same principles apply above on whether $36000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.
At the 36K salary with a family, you would need more than one income stream to make this possible without government help.
The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child and this does not include college.
That means that amount of money is coming out of the income that you earned.
So, the question really remains can you provide a good life for your family making $36,000 a year? This is the hardest part because each family has different choices, priorities, and values.
More or less, it comes down to two things:
The location where you live in.
Desire to improve your career and make more money.
Your lifestyle choices.
You will not be able to afford everything on this salary.
Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 36,000 per year, then the combined income for the household would be $72,000. Thus making your combined salary a very good income.
Learn how much money a family of 4 needs in each state.
Can you Live on 36000 Per Year?
As we outlined earlier in the post, $36000 a year:
$17.31 Per Hour
$138-173 Per Day (depending on the length of day worked)
$692 Per Week
$1384 Per Biweekly
$3000 Per Month
Next up is making $40,000 a year.
Like anything else in life, you get to decide how to spend, save and give your money.
That is the difference for each person on whether or not you can live a lower-class lifestyle depends on many potential factors. If you live in California or New Jersey you are gonna have a tougher time than Oklahoma or even Texas.
In addition, if you are early in your career, starting out around 32,000 a year, that is a okay place to be getting your career. However, if you have been in your career for over 20 years and still making $36K, then you probably need to look at asking for pay increases, pick up a second job, or find a different career path.
Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.
But one of the things that can help you the most is to stick to our ideal household budget percentages to make sure you stay on track.
Learn exactly how much do I make per year…
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
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Inside: Do you have a passion for something, but don’t know what to do with it? This guide will help you find a career that is perfect for you and match your interests and values.
This is something all of us wonder, right?
What should I do for a living?
Am I doing what I should do as a career?
Did I make the right decision with my career?
Or is it time to switch gears and find something that I love to do and make money at the same time?
I have been asking this question so many times, I finally decided to make a list of answers.
This is not just for those who want to know what they should do with their lives; it’s also for anybody looking for some new ideas on how they can fit into a career that will bring them satisfaction and happiness.
Recently, my middle schooler was asked, what do you want to do beyond high school? And he looked at me shell shocked.
Remarkably, this question of what should I do for a living is a doozy to answer. So, don’t feel alone if you cannot answer it… yet.
How do I find out what I should do for a living?
The first step to finding out what you should do for a living is to identify your skills and interests.
What are you good at?
What do you enjoy doing?
Once you have a better idea of your strengths and passions, you can start researching your options.
The bottom line…you must be happy to spend the next decades doing what you picked.
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Tips for finding a career you love
When you’re looking for work, it’s important to remember that there are many different ways of making a living. You can be an artist or designer in your own home studio, or run your own business. The key is to figure out what your interests are, and then find a way to use those skills in the work you love doing.
The goal of this article is not just to help you find a job that pays the bills, but to help you find work that is satisfying, meaningful, and fun.
Here are some tips to keep in mind as you go through the process of figuring out what you want to do with your life.
#1 – Focus on You
Don’t listen to people who tell you that you should do one thing. If your parents want to see you be a doctor, or if your friends think it’s important for you to have a “real” job, you might be tempted to listen to them.
Don’t let anyone else tell you what your passion is, or how you should spend your life.
Determine what’s important for YOU!
As you go through the process of figuring out what to do with your life, keep in mind that there are many different ways to live a happy and fulfilling life. You don’t have to be a doctor to help other people. You don’t have to work in an office all day, every day.
Do what you love and the money will follow.
If you do something that you love, you will never have to work a day in your life. If you do what you love, and are good at it, people will pay for that service or product.
Do what makes YOU happy. If you’re not happy, no one else will be either.
Don’t let anyone tell you what to do with your life. You should never have to justify your decisions or choices to anyone. You are the only one who has to live with your decisions and choices.
Do what you want, not what other people want for you or think that you should do. Period.
#2 – Identify What Interests You & Makes You Tick
There are a variety of ways you can go about finding out what interests you. You can read books and articles on different topics, talk to people with various careers, or take online quizzes and assessments – like this what should I do for a living quiz.
The first step to finding the right career for you is to identify what interests you intellectually.
What fascinates you?
What makes you feel like you are not working?
How do you want to spend your free time?
Once you know what fascinates you, the next step is to figure out how you can turn this into a career. Then, pursue your career interests relentlessly so you can reach your full potential.
#3 – Uncover your Strengths
Identifying your strengths is the key to finding opportunities that will be a good fit for you and enable you to reach your full potential.
Here are some things to take note of:
Pay attention to what you enjoy doing.
Notice when you feel most energized and engaged.
Consider what you do well naturally.
Reflect on feedback you’ve received from others.
Ask yourself how you can use your strengths more often in your current role or situation.
Once you know what they are, make sure to pursue opportunities that are based on them. This will help you stay focused and motivated in your work and life.
#4 – Match Your Values With Your Interests
Your values are the things that are most important to you in life. They guide your decisions and actions. They direct you to live a life that is meaningful to you.
There are many ways to identify your values. One way is to think about what is most important to you in different areas of your life, such as your relationships, work, leisure activities, and so on. Another way is to think about what you would like people to say about you when you are no longer here. What do you want them to remember about you?
Once you have identified your values, it can be helpful to write them down or share them with someone who will support and encourage you in living according to them.
When you link your values and interests together, it creates a powerful combination that can help you to live a more fulfilling and meaningful life.
When you know what is important to you (values) and what makes you happy and excited (interests), it becomes much easier to make decisions about how to spend your time and energy.
For example, let’s say one of your values is “family” and one of your interests is “cooking”. You could combine these by cooking meals for your family members or friends. Not only would this be enjoyable for you (because it aligns with your interest in cooking), but it would also be meaningful because it would be an act of love and care for those closest to you (which aligns with the value of family).
#5 – Consider your Lifestyle
Are you okay living below your means? Or do you prefer to flash your cash?
If you tend to spend money frivolously or struggle with saving money, then you need to be a high-worth earner. If you are okay living stingy, then a modest salary will probably work for you.
Keep in mind your lifestyle and what would be the best fit for you.
Consider if the hours are flexible, if you’d have time for hobbies and other interests, and how the commute looks. Sometimes rethinking your opportunities can give you a better perspective on what’s truly important to you.
Other Questions to Ponder:
Do you want a job that will consume most of your time?
Do you want a job where you can have a good work-life balance?
Are you okay with being tied to one location or have the flexibility to move around?
Are you willing to travel for work? If so, how often and how far?
What are your salary expectations? Are you looking for health benefits, paid vacation, or other perks?
Ultimately, there are many factors going into your decision. When considering a new potential career opportunity, it’s important to think about more than just the paper qualifications and the salary.
#6 – Spend Time Doing your Research
The best way to find a career you love is to first figure out what it is that you’re passionate about. What are the things that make you excited to get out of bed in the morning? Once you know what your passions are, research careers that align with those interests.
This just doesn’t happen overnight.
In fact, I recently went back to something of interest to me years ago because it would provide the time freedom I desired.
Spend time doing your research and following all the steps we cover in this post.
#7 – Find a career that matches your skills and interests
It can be difficult to identify what you want to do with your life, especially if you’re feeling lost or uncertain.
However, once you’ve identified what areas of interest might suit your skillset, try to link these interests with some type of career options.
Consider how your interests would fit into potential careers before choosing one.
It’s important to consider how your unique passions would fit into certain occupations or fields of work before choosing one. This will help you find a career that is satisfying and fulfilling. Consider the skills and interests you have and search for job openings that match them.
Start by researching the field you’re interested in.
# 8 – Talk to people in the field
There are a few ways to find people to talk to about your career interests. You can start by talking to friends and family members who might know someone in the field you’re interested in. You can also look for professional organizations related to your field of interest, or search for networking events in your area.
When you’re talking to someone about their career, it’s important to ask questions that will help you learn more about the field and whether it’s a good fit for you. Some questions you might want to ask include:
What does a typical day look like?
What is the most challenging part of the job?
What are the biggest rewards of the job?
These people will have better insights than what you can find searching the internet.
#9 – Get experience in the field
Oh, I cannot tell you how important this step is!
You have heard a similar story… my son dreamed of being an engineer and we planned to send him to engineering school. After his internship, the thought of being an engineer sucked the life out of him. Glad we learned this lesson before we spend money on his college education.
That is why I believe schools like this are so important to get real-life experience doing what you think you want to do for a living.
Consider internships or volunteer work to get your foot in the door.
Gaining experience can help you learn more about a particular field or company, and whether or not it’s the right fit for you.
#10 – Be open to change
Here are some things to keep in mind with change.
1. Change can lead to new opportunities: When you’re open to change, you’re also open to new opportunities. Embracing change can help you find a new job, start a business, or even move to a new city.
2. Change can help you grow: Personal growth is important for a fulfilling life. Change can challenge you and push you out of your comfort zone, leading to personal growth.
3. Change can be exciting: If you’re bored with your current situation, change can be exciting. It’s a chance to start fresh and experience something new.
4. Change can be positive: Even if it’s difficult, change can ultimately be positive. It can lead to improved relationships, increased happiness, and a better life overall.”
15 Most Popular Working for a Living Jobs
Many people want to know what they should do for a living.
For some, it’s not as easy as just “doing what you love.” There are definitely jobs out there that allow you to do what you love and make a living.
But first, we need to talk about the types of work available.
All salary estimates from Salary.com.
Registered Nurses
Registered nurses are in high demand and make a good living. They work with patients to assess their health, provide treatments, and help them recover.
Average Pay: $65k-70k per year
Education Needed: You need to have a nursing degree from an accredited school. You will also need to pass the National Council Licensure Examination for Registered Nurses (NCLEX-RN)
Police Officers
Police officers are responsible for upholding the law and maintaining public safety. A successful career in law enforcement requires strong communication skills and the ability to stay calm under pressure.
Average Pay: $54k-72k per year
Education Needed: Requires a college degree
Security Officer
More people are looking for security officer jobs as the world becomes increasingly dangerous. Security officers are in high demand and are usually the first responders in an emergency situation. It’s a challenging and rewarding career that can make a difference in people’s lives.
Average Pay: $32k-53k per year
Education Needed: Depends on their background and previous experience.
Real Estate Agents
If you’re looking for a job that’s in high demand, consider becoming a real estate agent. With the right education and licensing, you could be helping people buy and sell homes in no time. You must be comfortable marketing yourself and closing sales.
Average Pay: $38k-140k per year
Education Needed: Real estate agents need to be licensed in order to work. The real estate agent licensure test has a written and practical exam that must both be passed. In order to pass, you will need to know about contracts, financing, legal issues, and more.
Nursing Assistant
One of the most popular jobs in America is nursing assistant. It requires little training and pays relatively well. The work can be demanding, but it is also rewarding, and many nursing assistants feel a sense of satisfaction from their work.
Average Pay: $29k-41k per year
Education Needed: The Nursing Assistant job requires a high school diploma or equivalent, on-the-job training, and certification.
Delivery Driver
One of the most popular jobs in America is being a delivery driver. There are many positions for delivery drivers with different companies. Popular companies to work for include UPS, FedEx, and Amazon.
Average Pay: $39k-54k per year
Education Needed: Minimal. To become a delivery driver, you need to have a valid driver’s license and be able to lift heavy objects.
Firefighter
The most popular jobs in the United States vary from year to year, but there are always a few constants. Among these are firefighters, who protect lives and property from fires and other emergencies. They undergo rigorous training and must be physically fit to do the job.
Average Pay: $54k-94k per year
Education Needed: To become a firefighter, you need to have completed high school and be at least 18 years old. You will also need to pass a physical test and complete a training program.
Customer Service Representative
A customer service representative is the front line of a company and often the first interaction a customer has with the brand. The customer service representative’s job is to handle customer complaints, provide product information, and handle other inquiries. In order to be a successful customer service representative, one must have excellent communication skills and be able to stay calm under pressure.
Average Pay: $28k-44k per year
Education Needed: Minimal. Most require on-the-job training.
Dental Assistants
Dental Assistants are needed in every dental office. They help the dentist chair-side and perform a variety of tasks such as: take X-rays, prepare patients for treatment, sterilize instruments, and more. The Bureau of Labor Statistics projects that the number of jobs for Dental Assistants will grow by 18% from 2016 to 2026.
Average Pay: $32k-50k per year
Education Needed: To become a dental assistant, you will need to complete an accredited program and pass certification exams.
Nanny
One of the most popular jobs, and one that is likely to continue being in high demand, is nannying. To become a nanny, it is important to have experience with children and to be comfortable caring for them.
Average Pay: $37k-51k per year
Education Needed: You should also be CPR certified and have a clean background check.
Medical Assistants
A medical assistant is responsible for a variety of tasks in a doctor’s office, such as handling insurance claims, scheduling appointments, and helping the doctor with examinations.
Average Pay: $33k-44k per year
Education Needed: The job requires certification from an accredited program and on-the-job training.
Home Health Aides
Being a home health aide can be a rewarding career. Home health aides assist people who are unable to care for themselves in their own homes. They may provide basic needs such as bathing and dressing, or they may provide more specialized help, such as caring for someone who has Alzheimer’s disease.
Average Pay: $23k-33k per year
Education Needed: In order to be a home health aide, you need to have a high school diploma or equivalent, be at least 18 years old and have a driver’s license.
Personal Assistants
Being a personal assistant is a profession that helps people with various tasks. These tasks can include things like preparing meals, cleaning, and running errands. There are many different types of personal assistants, but all of them must have good communication skills and be able to multi-task.
Average Pay: $50k-83k per year
Education Needed: None
Graphic Designer
A graphic designer creates visual concepts, using computer software or by hand, to communicate ideas that inspire, inform, and captivate consumers. They develop the overall layout and production design for advertisements, brochures, magazines, and corporate reports.
Average Pay: $39k-65k per year
Education Needed: Many hold a bachelor’s degree in graphic design or related fine arts field.
Marketing Manager
A marketing manager is responsible for planning and executing marketing campaigns that promote a company’s products or services. They must have a strong understanding of marketing principles and be able to develop creative strategies that will engage consumers
Average Pay: $47k-94k per year
Education Needed: Usually need a least a bachelor’s degree, but the experience is more important.
High Paying Career Opportunities that Pay Over $100k a Year
There are many popular career choices that people will argue about. For example, which is the best job? This section covers jobs that pay over $100000 a year.
These jobs typically have six-figure salaries and require years of schooling and training.
Software Engineer
A software engineer is someone who designs, creates, tests, and maintains the software that makes computers work. They design, develop, test, and maintain the software that makes our lives easier. As technology advances, the job of a software engineer becomes more and more important. Writes code, tests, and debugs programs and perform a variety of complicated tasks.
There is a high demand for software engineers in the airline industry. Pilots need software engineers to design, develop, and maintain the software that controls the aircraft. They also need software engineers to help with the maintenance and troubleshooting of the software.
Average Pay: $65k-130k per year
Education Needed: Requires a college degree. Many have master’s degrees as well. To become a software engineer, one must have a strong foundation in mathematics and computer science.
Database Administrator
A database administrator is responsible for designing, implementing, maintaining databases, and troubleshooting databases while ensuring their availability 24/7/365. They work with clients to understand their needs and create databases that meet those needs. Database administrators need strong technical skills, as well as good communication and problem-solving skills.
Average Pay: $97k-150k per year
Education Needed: May require a bachelor’s degree in area of specialty or require certification.
Investment Banker:
A career as an investment banker can be quite fulfilling, as you will be responsible for helping companies raise money by issuing and selling securities. You will need to have a good working knowledge of financial markets, as well as excellent communication and organizational skills. As well as provides analysis of opportunities and potential investments, assists clients with the formulation of investment proposals, and provides guidance on the structuring and negotiation of transactions.
Average Pay: $56k-110k per year
Education Needed: College degree is typical and may require an advanced degree.
Air Traffic Controller
Air Traffic Controllers work in airports to ensure safe and efficient air travel. They monitor aircraft and make sure they follow all the necessary safety procedures. They also direct the movement of flights and keep an eye on traffic congestion. An air traffic controller is key for the safety of the pilots and passengers.
Average Pay: $54k-120k per year
Education Needed: Requires certification from the Federal Aviation Administration (FAA).
Petroleum Engineer:
There is an increasing demand for Petroleum Engineers. They are responsible for the exploration and production of oil and gas and work in a variety of industries, including energy, mining, and transportation. They develop plans to extract oil and gas from deposits below the earth’s surface and new ways to extract oil and gas from old wells.
Average Pay: $82k-120k per year
Education Needed: Requires a bachelor’s degree in engineering. May specialize in reservoir engineering, drilling engineering, or production engineering.
Anesthesiologists
Anesthesiologists are responsible for the care of patients during and after surgery. They monitor patients to make sure they are safe, help them breathe, and make sure they are comfortable.
Average Pay: $310k-520k per year (most anesthesiology assistants make well over $100k)
Education Needed: Requires a bachelor’s degree. Then, medical schools are offering anesthesiology education.
Airline Pilots
Being an airplane pilot is a very demanding job. Pilots need to be able to stay focused for long periods of time while flying. They also need to be able to make quick decisions while flying. Pilots also need to be able to multitask while flying. With travel demand constantly growing, there will be a growing need for pilots.
The airline pilot profession is a very demanding one that requires a great deal of education and training. It takes many years of dedicated study to become a qualified airline pilot.
Average Pay: $125k-163k per year
Education Needed: In order to become a certified pilot, pilots must first complete an accredited undergraduate program. After that, they must complete a professional pilot training program that can last anywhere from 1 to 4 years. Finally, they must pass a certification.
Psychiatrists
There are many different types of psychiatrists and their job duties vary. Psychiatrists are typically employed as full-time employees in hospitals, clinics, or private practices. A psychiatrist’s job duties may include diagnosing mental disorders and providing treatment.
Average Pay: $190k-300k per year
Education Needed: Usually required to have a graduate degree in psychiatry and pass a psychiatric board examination.
Orthodontists
Orthodontists are a type of doctor who specializes in the treatment of teeth and jaws. They use orthodontic appliances (braces and retainer devices) and other treatments to correct problems with teeth and jaws. Orthodontists typically work in private clinics and hospitals.
Average Pay: $100k-210k per year
Education Needed: Required to have a four-year undergraduate degree in dental hygiene, dental medicine, or dental technology. After completing an orthodontic residency, they must pass the American Board of Orthodontics (ABO) license examination.
Day Trader
A day trader is someone who makes a living by trading stocks, commodities, or currencies. They do this by buying and selling stocks, commodities, or currencies at the right time, and making a profit. This means that they are constantly on the lookout for opportunities to make money. A day trader typically works from home and may use a computer, telephone, or other electronic devices to trade.
Average Pay: $65k-120k per year
Education Needed: Required None required. However, many have a background in finance or economics.
Hedge Fund Manager
A hedge fund manager is a person who manages hedge funds. Hedge funds are investment pools that are used to protect investors from losses. Hedge fund managers make money by investing money in different types of securities.
Being a hedge fund manager is a very demanding job. It requires a lot of skill, knowledge, and experience. A hedge fun manager must be able to analyze financial data and make decisions quickly. He or she must also be able to communicate with clients and other employees of the hedge fund.
Average Pay: $87k-131k per year
Education Needed: Hedge fund managers must have a strong educational background. Studying finance or economics is usually necessary.
Web Developer:
A web developer is responsible for creating and maintaining websites. They work with clients to understand their needs and create a website that meets those needs. Web developers need strong technical skills, as well as good communication and problem-solving skills.
Average Pay: $97k-140k per year
Education Needed: College degree required. Must have certifications as well.
Network Engineer
A network engineer is responsible for designing, implementing, and maintaining networks. They work with clients to understand their needs and create networks that meet those needs. Network engineers need strong technical skills, as well as good communication and problem-solving skills
Average Pay: $73k-120k per year
Education Needed: College degree required. Must have certifications as well.
Trade Jobs that Pay A lot More than Minimum Wage
Trade jobs often come with good pay. This is because they require specialized skills and training. Some of these jobs include welders, plumbers, and electricians. Many trade jobs also come with good benefits packages. This includes things like health insurance and retirement plans. Some even offer the choice to join a union.
For example, welders and power plant operators can make an average of $23 an hour. Plumbers and electricians can make an average of $30 an hour.
Power Plant Operator
Aircraft Technician
Welders
Plumber
Construction Manager
Electricians
Real Estate Appraiser
HVAC Technician
Elevator Mechanic
Radiation Therapists
Boilermakers
Most Needed Job Opportunities
There are a number of jobs that are on-demand and in high demand right now. These jobs may have different requirements or be in higher demand in certain areas, but they all offer the potential to make a good living doing something you love.
There are many trade jobs that are in high demand right now. This means that there are more job openings than there are people to fill them.
This list of the top five jobs in demand right now was formed with the help of Best Colleges.
Nurse Practitioner
A Nurse Practitioner is a type of doctor who helps patients with a wide range of health problems. They work in a team with other doctors and nurses to care for patients.
Nurse Practitioners are trained to diagnose and treat a wide range of health problems, which can include everything from common colds to more serious diseases.
Average Pay: $100k-140k per year
Education Needed: Medical training is beyond what a registered nurse needs. A Master’s in nursing is required as well as state licensure.
Genetic Counselor
A genetic counselor is a healthcare professional who helps individuals and families understand and adapt to the medical, psychological, and social implications of genetic disorders. They work with patients to provide risk assessment, education, and support for inherited conditions.
Genetic counselors are poised for rapid growth and long-lasting job security due to advancements in genomics and genetic testing.
Average Pay: $67k-99k per year
Education Needed: Master’s degree in genetics and board certification.
Occupational Therapy Assistant
An occupational therapy assistant (OTA) is a healthcare professional who helps people regain and improve the skills they need to live and work independently. They provide rehabilitative services to patients who have sustained an injury, have a disability, or are experiencing physical and/or cognitive changes.
This may include helping individuals improve their mobility, balance, and coordination through exercise programs; improving the social skills of children with developmental challenges; working with people who have mental health conditions to help them participate in daily activities; or providing support to elderly patients who want to remain independent.
Average Pay: $52k-76k per year
Education Needed: Associate’s degree and field experience.
Physical Therapist Aides
Physical therapists aides help patients who have physical problems such as bed sores, fractures, and paralysis. They work with the physical therapist to help the patient move and perform activities of daily living. Typically duties include helping patients with exercises, massages, and other treatments.
Average Pay: $30k-38k per year
Education Needed: Physical therapist aides must have a high school diploma or GED and pass a criminal background check.
Information Security Analyst
The information security analyst job market is projected to grow by 33% over the next three years, making it one of the fastest-growing job markets. Information security analysts are vital to the protection of data and are responsible for the protection of computer systems and networks from cyberattacks and data breaches. They work to protect an organization’s most valuable assets- its data.
Average Pay: $70k-103k per year
Education Needed: Most have a Bachelor’s degree in software engineering or computer science. Also, many have certifications.
Thinking to Follow Your Passion – Cool Jobs to Do
There are a variety of jobs that you may not have considered that can be a great fit for you.
If you’re looking for a career change or just want to try something new, here are a few jobs you may want to consider. These jobs offer great opportunities and allow you to do what you love every day.
Video Game Programmer or Designer
If you love playing video games and have some creativity, you may want to consider becoming a videogame designer. This job allows you to use your imagination and creativity to create new and innovative gaming experiences for players all over the world.
Average Pay: $53k-185k per year
Education Needed: A college degree in computer programming is preferred. However, you can program get a certification and start working sooner.
Virtual Assistants (VA)
Being a virtual assistant can be a great way to make some extra money. It can be a lot of work, but with the right skills and equipment, it can be a lot of fun. Virtual assistants work with people all over the world, so there is always something new to learn. A VA has very flexible hours and can set its own schedule.
Average Pay: $39k-52k per year (depending on how much you hustle). Very common to make more.
Education Needed: None. But, this virtual assistant training is highly recommended.
Video Producer
There are a variety of video production jobs that are in high demand. If you have the skills and are passionate about video, there are plenty of opportunities out there. You could work as a video producer for a news organization, create video content for a website, or work for a company that produces video content for marketing purposes.
Average Pay: $47k-100k per year
Education Needed: Most have a college degree in design and video production. But, experience is preferred.
Tour Guide
If you are good at giving information tours, you may want to consider becoming a tour guide. Tour guides give visitors an overview of a particular place or attraction. They must be knowledgeable about the history and culture of the area they are touring, and be able to answer visitor questions.
Average Pay: $22k-44k per year
Education Needed: None.
Fashion Stylist
Detail-oriented people who have a passion for fashion and design can make a great living as a stylist. Stylists are in high demand, especially in the fashion industry. They typically work with clients to help them choose outfits or styles that will suit them, as well as style photo shoots and provide consultation on current trends.
Average Pay: $47k-64k per year
Education Needed: This is a job where you get popular by your experience and referrals.
Translators
Being a translator can be a very rewarding and challenging career. The most popular jobs for translators are in the legal, medical, business, and technical fields.
Translating is a very versatile job that can be done in many settings. Learning about the different types of translation and which language pairs are the most popular can help you get a better understanding of the field.
Average Pay: $43k-72k per year
Education Needed: Typically hold a bachelor’s degree. Must be proficient in at least two languages.
Social Media Manager
If you are able to communicate well, have strong writing and communication skills, and have some marketing experience, you may want to consider becoming a social media manager. A social media manager is responsible for developing and executing a social media strategy for their employer or client.
A social media manager is responsible for creating and managing a company’s social media presence. This includes creating content, monitoring activity, and engaging with followers.
Average Pay: $49k-75k per year
Education Needed: A college degree in marketing is preferred.
Event Planner
Event planners are in charge of organizing and managing events. They come up with ideas for events, coordinate with various departments to make them a reality, and keep things running smoothly. Event planners can work for businesses of all sizes, from small businesses to multinationals. There are many different types of event planners, so if you’re interested in a career in events, you should explore this avenue.
Average Pay: $47k-70k per year
Education Needed: Many have a college degree, but that is not mandatory. Strong organizational skills, attention to detail, and ability to work under pressure. Experience is best.
Florist
There are many cool jobs that you can consider if you are interested in the floral industry. A florist can work in a variety of settings, such as a grocery store, a restaurant, or a ballroom. A florist can also work as a freelance artist, creating floral arrangements for special events. This is a creative outlet for many and comes with flexible hours. However, work can be seasonal and require working on weekends and holidays.
Average Pay: $35k-76k per year
Education Needed: Nothing special. Just have an eye for creativity and a love of flowers.
Work Opportunities to Make Real Money
How do you want to make money? There are many ways. You could choose a career in medicine, law enforcement, or any other occupation that ultimately benefits society and helps people thrive.
Many people believe a business degree is worth it, but may not be the best choice for you.
Here are real jobs to make real money at work.
Teacher
One of the most popular jobs in America is teaching. Teachers are needed in every state, and the profession offers great stability and benefits. We need our teachers to teach the next generation.
Average Pay: $39k-80k per year
Education Needed: In order to become a teacher, you need to have at least a bachelor’s degree and be certified in your state. Many pursue a master’s degree in order to receive higher pay.
Veterinarian / Veterinary Tech
There are a lot of different jobs in the veterinary field, and if you love animals, chances are you would enjoy working with them. Veterinarians work with all types of animals, from pets to livestock. Veterinary technicians work with animals in veterinary hospitals, performing tasks such as recordkeeping and taking care of furry patients.
Average Pay: $60k-150k per year / $25k-55k per year
Education Needed: Becoming a veterinarian is much like going to college to become a doctor requiring specialty degrees. However, a vet tech only needs a high school diploma.
Construction Worker
Being a construction worker can be a challenging, but rewarding experience. It can be a great way to meet new people and build some amazing structures. The job requires a lot of physical labor, but it can also be very rewarding to see a project come to life. If you are interested in becoming a construction worker, be sure to research the profession and prepare yourself for the challenges that will come with the job.
Average Pay: $26k-47k per year
Education Needed: Starting out no experience is needed. To become a project manager, you will need a college degree.
Marketing Assistant
A marketing assistant helps with a variety of tasks in marketing. They may be responsible for monitoring and managing budgets, creating and distributing marketing materials, or working with customers to improve their experience with a company. If you have a strong interest in marketing and are comfortable working in a collaborative environment, a marketing assistant role may be a good fit for you.
Average Pay: $34k-57k per year
Education Needed: A college degree in marketing is preferred.
Truck Driver
One of the most popular jobs in America is a truck driver and a heavily needed position. The Bureau of Labor Statistics reports that there are 1,187,500 truck drivers employed in the United States.
Average Pay: $45k-58k per year
Education Needed: A high school diploma or equivalent is typically required to become a truck driver.
Administrative Assistant or Office Manager
The Administrative Assistant position is one of the most popular jobs in America. The role generally entails providing support to managers and employees, handling office operations, and managing schedules. In order to be successful in this career, you’ll need strong organizational skills and proficiency in Microsoft Office.
Average Pay: $35k-55k per year
Education Needed: None
What Should I Do for a Living FAQs
You enjoy going to work,
Your work makes you feel fulfilled.
Your skills are utilized and challenged.
You feel like you are making a difference.
This is why it is important to spend time making a decision on what to do for a living.
You’re not passionate about your work
You’re always stressed out
You dread going to work
You’re not challenged by your work
You don’t feel like you’re making a difference
It is better to make a decision to move out of the wrong career to maintain your happiness in life.
Research other careers that might be a better fit for you and consider making a switch.
Your interests can give you clues about the types of careers that might suit you. Your skills can help point you towards careers that will make use of your strengths.
Passions:
What are you passionate about?
What topics can you talk about for hours without getting bored?
Skills:
What natural talents do you have?
Are you good at working with your hands, or do you prefer working with your mind?
Do people often come to you for advice or help with problems?
Values:
What is important to you in a job?
Do you want to feel like your work makes a difference in the world, or do you just want a steady paycheck?
Do you prefer working independently or as part of a team?
Personality:
Are you an extrovert or an introvert?
Do people describe you as spontaneous or cautious?
Work environment:
Do you prefer working indoors or outdoors?
In an office or from home?
With animals or with people?
When it comes to choosing a career, it’s important to consider what kind of personality traits will make someone successful in their chosen field. Also, knowing your values can help narrow down your career options.
How can you create a career you love?
Your career is one of the most important aspects of your life. It’s what you spend the majority of your time doing, and it can have a huge impact on your overall happiness and satisfaction with life. That’s why it’s so important to find a career that you love.
When you have a career that you’re passionate about, it doesn’t feel like work. You’re more likely to be engaged and motivated, and you’ll be more likely to stick with it even when things get tough. Plus, pursuing a career that you love can lead to all sorts of other benefits, like increased success and earning potential.
There is no reason why you can’t create a career that brings joy into your life every single day!
How can you make a living doing what you love?
What are you good at? What do you enjoy doing? Which things are you naturally drawn to?
Those are the areas you need to focus on.
Once you have a plan, it’s time to start making money. There are a number of ways to do this, but the most important thing is to get started and keep moving forward.
Remember, it takes time and effort to build a successful business or find an enjoyable career.
What Should I Do Now?
There’s no single answer to the question “what should I do for a living?”
Everyone has a different idea of what they would like to pursue.
There is no right or wrong answer when answering this question, but if you are struggling with the decision-making process, take note of these most popular jobs and the skills you need to get them.
But by exploring your interests and values, you can find a career that is a perfect match for you.
No matter what your interests or skills may be, there is sure to be a cool job out there that is perfect for you.
You could also become an environmental scientist, web developer, or event planner. There are many exciting and rewarding careers out there – you just need to find the one that’s right for you.
Then, at the next social event, you can be proud to answer “what do you do for a living?”
So what are you waiting for? Start your search today!
More Ideas for You:
Know someone else that needs this, too? Then, please share!!
Ever wonder how much that real estate agent you constantly see on bus benches and your grocery store receipts makes?
Well, the National Association of Realtors (NAR) released some interesting data regarding just that. And it’s not really good news (surprisingly).
The study, titled “2017 National Association of Realtors Member Profile,” covers the approximately 1.22 million active real estate agents in the United States.
It found that the median income for a “Realtor” was $42,500, up from $39,200 in 2015. That’s a healthy 8.4% year-over-year increase, thanks to a fairly robust housing market (despite limited inventory).
For NAR members in the game just two years or less, the median income was a paltry $8,930, while of those in the real estate business 16 years or more earned a median $78,850.
Very Few Real Estate Agents Earn Six Figures
There seem to be really big winners and equally big losers
In the residential real estate business
Top producers capable of bringing in $100k+, while many others do $10k or less
The typical agent closed 12 transactions throughout the year
But it’s not all bad. Of the real estate agents with 16+ years of experience, 38% earned more than $100,000 in 2016. Unfortunately, the average real estate agent only has 10 years of experience.
Then you’ve got the 56% of members with less than two years of experience who earned under $10,000 throughout the year, which kind of highlights the wide range of possible salaries based on the entrepreneurial nature of the job.
Essentially, you’ve got a large group of real estate agents who don’t close many if any transactions in a given year, then the heavy hitters who close the lion’s share of sales year after year.
That’s evidenced by their work rate, which ranges from 20 hours per week to some throwing down 60 hours per week or more. These top producers are the ones making a life in real estate.
The others might just be dipping their toes in the pool – we also have to consider the individuals who get licensed simply to close their own home, or to help a friend or family member.
This could explain the relatively low 12 transactions per year on average, which is just one per month.
Do Realtors Practice What They Preach?
Some 82% of Realtors own their primary residence
Which means they practice what they preach
This number has fallen in recent years
As a result of the massive housing crisis that took place
Largely, yes. Apparently 82% of Realtors are homeowners, and many others own an investment property, or at least one vacation home.
Additionally, a small percentage own at least one commercial property. So they’re aren’t just out there selling real estate, they’re buying real estate as well.
Oh, and the median gross household income for a Realtor was $111,400, which is well above the national median, so I suppose they marry well too!
For the record, 2017 wasn’t a particularly great year in the real estate world, so the numbers could be skewed somewhat. But then again, real estate is cyclical, so bad years are expected (and should be calculated) along with the good over time.
When you enroll in Medicare, it can be confusing. There are dozens of different terms and coverage categories that you will need to understand to ensure that you’ve got the coverage that you need.
Medicare is an excellent program, but there are plenty of medical expenses that the program doesn’t cover. Those left over bills could leave you with thousands and thousands of dollars of expenses.
Every year, the cost of health care continues to creep up. There are millions of seniors that have had their savings accounts drained because of surgery or they needed a specific treatment. You’ve reached a stage of life where you can finally sit back and enjoy all those years of hard work, but hospital bills can destroy that retirement dream.
There is nothing that you can do about those rising hospital bills, but there are a few ways that you can protect yourself and your finances from being the full weight of them. The best way is to purchase supplemental health care insurance to accompany your Medicare policy.
There are two main options to get additional coverage, either a Medigap policy or a Medicare Advantage plan. Both of them will fill in the gaps left behind by original Medicare, but they operate very differently. Each of them has various pros and cons that you will need to consider to ensure that you’re getting the best supplemental coverage available.
What is a Medigap Policy?
Before we start looking at Plan G specifically, let’s take a broad look at Medigap plans and why you should purchase one of these plans. Medigap plans are sold by private insurance companies, and they help fill in all of the gaps that original Medicare leaves behind (hence the name Medigap).
As long as you’re over the age of 65 and you are enrolled in Medicare, then you can purchase one of these plans. You will then pay monthly premiums to the private insurance company, and you will still be required to pay the premiums for your Part A and B Medicare coverage.
There are ten different plans that you can choose from, depending on which state that you live in. They are all denoted by a letter of the alphabet, from A to N. The plans are standardized by the government, which means that regardless of which company that you buy the plan from, the coverage is going to be the same. The only differences between the available companies is how much you’re going to pay every month.
Medicare Supplement Plan G
If you’re looking to get a lot of supplemental coverage, Plan G is an excellent choice to do that. Plan G is similar to Plan F in the coverage that it provides (the main difference is that Plan G doesn’t cover Part B deductibles, which Plan F will no longer be allowed to pay for), but there are a few distinct differences between the two types of plans. It’s important that you compare all of your options before you decide which plan is going to work best for you.
Plan G is one of the more comprehensive plans, meaning that it fills in more holes than some of the other basic plans. There are several key coverage areas of a Plan G that make it the perfect option for some applicants.
There are several important areas of coverage with a Plan G that can give you the additional coverage that you need. One of the most notable is the Part B excess charges, which several of the other plans don’t cover. Whenever you go to the hospital or doctor, and you get treated, there is a Medicare Part B approved amount that they have calculated. Legally, the doctor or hospital is allowed to charge 15% over that agreed amount. Without a Medigap policy, you would be responsible for paying for those excess charges yourself. If you have a plan that covers those bills, then you won’t have to pay anything out-of-pocket. In most cases, excess charges will be relatively small, but some treatments or services could put a severe strain on your bank account.
Another important area of coverage is the foreign travel emergency coverage. If you’re traveling, and something were to happen to you, then a traditional Medicare plan will not help you pay for any of those expenses. With a Plan G, then you will get coverage for up to 80% of the plan limits. If you plan on doing a lot of traveling in your retirement, it’s important that you have the safety net that you and your family will need. If not, a trip to the hospital could ruin your vacation.
Some of the other covered fees are the Medicare Part A hospice care coinsurance and the Part A deductible. Both of these are relatively small expenses, but they can quickly add up to serious bills. Those expenses, coupled with some of the others, could quickly drain your bank account when you need the money the most.
Like the other Medigap plans, Plan G will also pay for inpatient hospital coinsurance and hospital fees for 365 days after your Medicare benefits have been used up. If you were to be diagnosed with a severe health complication, you could find yourself with an extended stay in the hospital. As you probably know, hospital bills can be massive. The longer that you stay, the bigger those bills are going to be. Even with a short stay, it can cost thousands and thousands of dollars. Thankfully, traditional Medicare helps pay for hospital stays, but a Medigap plan will ensure that you have additional coverage if you end up in the hospital longer than you assume you would be.
Enrolling in a Medigap Policy
The next step to getting supplemental coverage is enrolling in the Medigap plan that you choose. Luckily, purchasing one of these policies is easier than you may think. In fact, it’s as simple as purchasing any insurance policy.
The first thing that you will need to do is decide which company that you’re going to buy the plan from. Because the plans are the same from company to company, the only difference is how much you’re going to pay in monthly premiums. It’s vital that you compare several companies before you pick one.
The next thing is to determine when your open enrollment period is. This enrollment period is a six-month opportunity that starts the month that you turn 65, and during that time, the insurance company has to accept your application, regardless of your health or any pre-existing conditions that you have.
Another advantage of applying in this 6-month window is that the insurance company cannot charge you higher premiums for your plan, even if you’re in poor health. Taking advantage of your open enrollment could save you thousands of dollars every year. If you’re in bad health or have a lot of previous health problems, your open enrollment could be your only chance to get supplemental coverage.
After that window is closed, then your application is going to be treated like any other application. The company is going to ask you dozens and dozens of questions about your health and other determining factors to decide how much of a risk you are to accept. If you’re too high of a risk, then they will reject your application. Some companies are more liberal than others with their risk assessment, but it can still be hard to find an affordable policy.
If you’ve already missed the six months, don’t worry, there is still a great chance that you can purchase a Medigap plan at a reasonable rate. You can’t put a price on the peace of mind that having proper supplemental coverage will give you.
Any Questions?
If you have any questions about Medigap Plan G, or any of the other plans that you can buy, feel free to check out some of the other articles that I’ve written about supplemental coverage. If you are confused by the whole thing, feel free to contact me, or you can call a professional Medigap insurance agent. There are thousands and thousands of agents in the United States that have years of experience helping seniors get the Medigap coverage that we need.
You’ve finally reached a stage of life where you can sit back and enjoy all of those years of hard work. Don’t let some expensive medical bills ruin that.
In the past, I’ve shared the story of the worst job I ever had. In a lot of ways, it felt like I was part of a pyramid scheme or multi-level marketing operation. I’ve been approached to participate in similar operations since then: once by my veterinarian (?!?) and once by a stranger in a book store. Sometimes you cannot tell a scam is a scam until you see it up close, and then the sunk-cost fallacy will sometimes force you to make a poor choice. GRS reader Bozemblem recently sent me this story of his close encounter with a “business opportunity” that turned out to be a scam.
I’ve been reading Get Rich Slowly for about a year now, and I can definitely relate when you talk about your struggles and triumphs with money. Here’s an experience I recently had.
I currently work and live in one of the most expensive parts of the United States. I’m going to school part-time to get my MS in Computer Science. School is very expensive, even with my employer paying a great deal of the tuition.On top of that I’m getting married next year and I have a tiny amount of credit card debt. I do a very good job of budgeting my money; I follow it quite closely and it won’t be long before I’ve rid myself of the debt. However, as you might be able to tell, money is a bit of a concern and so I’m always looking for way to either decrease my spending (which I think I’ve done a good job of so far without going crazy) or increase my income (which is much harder to do, and it is my attempt to do so which is why I’m writing you).
Business Opportunity
The other night I was in the grocery store buying some items for my sick fiancee. Unfortunately, there was only one cashier on duty and I was one of an unusually large number of customers that night. As I waited in line, a nice gentleman in line behind me struck up a conversation.I spent some time talking to him and eventually we got around to talking about what we did for a living, and I mentioned that I am a software engineer. Upon hearing that, he got pretty excited and told me that he was a small business owner in need of someone with my skill set. Seeing this as an opportunity to possible earn some extra money, we exchanged number and he promised to call me the next week to talk about opportunities for some part-time work with his company.
Later that next week he called me, and we set up a time to meet. He told me to meet him at a hotel the next week; he and some of his fellow small business owners were part of a larger corporation, and he presented this to me as an opportunity to network and meet other people who may be interested in my skills. Cautiously optimistic, I agreed.
Well tonight I met this individual and had quite the experience. It slowly started to come together for me, and the saddest part about it is that those were three hours that I will never get back. Turns out, it was just one large pyramid scheme, and it didn’t matter if I was a software engineer or not.
Pyramid Scheme
Here’s how the operation works: you join as an “apprentice” of another member, and you maximize your profits by getting other people to become your “apprentice”. It was disguised as an “e-commerce” (sorry for the abuse of quotation marks) operation; basically you bought your home goods from this one organization instead of a place like Wal-Mart. Everyone else you got to sign up and buy those same goods from that organization would gain you some money. And when they got people to sign up, then you would get a cut of the profits as well. As soon as I had an opportunity, I left, feeling disgusted and embarrassed.
I however, was the only one. Of the other “candidates” in the room, only I left. Everyone else seemed excited. It’s not hard to see how. The speaker was very compelling; very funny and personable. He spoke of living a “lifestyle” as opposed to a life (my first red flag). Then he talked about stuff like “how would you feel if you could drive a different car…every day of the week!” He then had us list out which 7 cars we wanted. Actually, we listed out 6. Aston Martins, Rolls-Royces, etc… The 7th car he picked. And it was the car he drove, and he implied that it was through this program that he was able to afford it. I wish I could have left right then, but I was sitting near the front and although I hated myself for being there, I couldn’t bear to be rude either.
Your readers should be aware of these operations! They may sound good, and the money may be real, but it’s all top-heavy. The ones at the bottom (ie. YOU) won’t be making all that money, but you’ll help someone else do it! Beware of the charismatic speaker; this guy was really good; going so far as to say “I don’t even care if you join or not”. Implying, of course, that he’s doing us a favor, despite the fact that he wouldn’t have any money if no one signed up.
But that one statement was so powerful, and I could tell my fellow attendees were getting sucked in. That one statement created such a sense of urgency and yet indifference on his part. He was basically saying that he didn’t need us, that he can find more people, the “right” people. And he kept talking about us being “candidates”, and he spoke often of a selection process. I’m not privy to such information, but if I had to guess, I would say that we were all going to be selected.
Get Rich Quick!
That and numerous other methods were employed to give us a sense of opportunity, and give us a taste of the rich lifestyle. He was damn good at his job, and I don’t doubt that he’s made plenty of money off of his considerable talents. Oh, and don’t forget the $200 registration fee, the $150 insurance costs, and the undisclosed costs of the training materials. By the way, I only got those figures by pressing my “sponsor” until he finally relented.
It’s easy to see how people can get sucked in. Everyone else was just like me; needed a little extra cash, pressed for time and anxious to explore any opportunity, we were rip for picking. I thank goodness that my dad instilled in me a sense of skepticism, else I may have ended up with the rest of them.
Unfortunately, the road to riches isn’t that easy. It’s simple, but it isn’t quick and painless. You just gotta spend less than you earn (by prioritization and reducing the number of unnecessary “wants”), save as much as you can, diversify your investments, and constantly improve the most critical investment, yourself (through taking on a variety of tasks at your job, even if they’re outside of your typical skillset and by continuing your education). Invest in index funds, open a high-yield savings account, contribute at least enough to your 401(k) to max out your company’s match and fund your IRA; doing so will provide plenty of wealth going forward, just do the math!
A Learning Experience
There is one positive that came out of my experience with the pyramid scheme. The speaker preached constantly about how his program is different than a typical job because it gave you “freedom”. That’s not really true, it just transfers your obligations, and it provides you with a significant amount of risk if you are one of those who chose to do that type of thing full time (and there are those people).
The bright side for me was that I realized how much I hated the lack of freedom that working in a traditional career offers. And I’ve always had an idea for a real small business (as opposed to the scheme’s definition of a small business) that I’ve always wanted to open, and I’m going to start working towards that goal. I’ve been inspired to work to free myself from work, and to get to the point where I won’t be susceptible to schemes like the one I got sucked into tonight. Perhaps not the motivation these guys were looking for, but that’s what I got out of it!
Bozemblem’s experience is similar to several I’ve had in my own life. I believe he’s right: programs like this can provide income and success to those at the top, or to those who have special luck or motivation. But for most people, they’re actually a net loss. Do you have experience with pyramid schemes or multi-level marketing? Was this experience positive or negative? What advice do you have for others who might be considering this as a way to make money? Checkout line photo by szlea. Conference photo by Jeffrey Beall.
Save more, spend smarter, and make your money go further
This Independence Day, as with each 4th of July, I’m reminded of the great leap of faith my parents took more than 37 years ago when they bought one-way tickets to the United States. Their move from their embattled Iran granted my brother and me a life of privilege and greater freedoms.
Their journey also encourages me to be a do-gooder and, as nerdy as it sounds, manage my money wisely. Because you can’t exactly say to your immigrant parents, “Hey, thanks for risking everything and moving here to give us a better life, but I have $80,000 in credit card debt and need to move back home.”
I want to be financially free, if for no other reason than to make them proud. That means living a debt-free life and supporting my family’s needs and wants both today and in the future. It means having my financial bases covered to avoid stressing over money. For me, personally, it also means have a little savings cushion for the day my parents might need my help for a change.
The term “financial freedom” signifies different things to different people. I was curious to learn more, so I took to the world of social media to crowd source the many definitions.
On Twitter, I ran a small, unscientific survey and discovered that one in three of us define financial freedom as never having to worry about money. I was surprised to learn that only 3% think making more and having more money is the exclusive path to financial freedom. A majority of us think that it’s a combination of being debt-free, having more money and never having to worry about dollars and cents.
On my Facebook page, feedback came from all over the country and overseas. Financial freedom is an aspiration for many of us, and we define it with terms like, “having choices,” “peace of mind” and “living in abundance.”
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What’s your definition of financial freedom? Share it with us in the comments section below.
Have a question for Farnoosh? You can submit your questions via Twitter @Farnoosh, Facebook or email at [email protected] (please note “Mint Blog” in the subject line).
Farnoosh Torabi is America’s leading personal finance authority hooked on helping Americans live their richest, happiest lives. From her early days reporting for Money Magazine to now hosting a primetime series on CNBC and writing monthly for O, The Oprah Magazine, she’s become our favorite go-to money expert and friend.
Save more, spend smarter, and make your money go further
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Part 2 of 3: Life Insurance Buyers’ Common Q&As
Medicare is an excellent program that allows seniors to get health care coverage that they wouldn’t be able to afford otherwise. While it’s a great way for Americans to get insurance coverage, there are plenty of expenses that it doesn’t cover. Those coverage gaps can leave people with massive hospital bills and medical fees that put a severe strain on a bank account.
One of the best ways to fill in the coverage holes is to purchase a Medigap policy. These plans are one of the best forms of supplemental insurance. When you’re shopping for Medigap protection, there are several different policies that you can choose from.
Medigap Options
There are ten different Medicare supplement plans that you can choose from, and all of them have different benefits and advantages. It’s important that you find the best possible supplemental plan for you, and to do that, you will need to compare all of your options.
All of the plans are denoted by a letter of the alphabet, Plan A, B, C, D, etc. and there is a broad range of expenses and gaps that they could cover. Plan A is the most basic of the options, and it leaves more holes than the other policies. Which means it’s also going to be much more affordable. One important thing to take note of when you’re shopping for supplemental coverage is that these plans are standardized by the government. That means that regardless of which company that you purchase the plan from, the coverage is going to be the same.
The only difference between companies is going to be any additional extras that they offer and the price of the coverage. Depending on the time of plan that you buy and the company that you choose, your premiums could vary drastically. The plan that you choose is going to be one of the biggest determining factors in how large your monthly premiums are. One of the most popular plans is a Plan F.
Medicare Supplement Plan F
Plan F is by far the most attractive option for supplemental coverage. There are several reasons that Plan F is the most common choice. Plan F is considered the Cadillac of Medigap plans. It fills in all of the leftover holes from traditional Medicare. If it’s legally possible to pay for any medical expenses, then a Medigap Plan F will cover it.
One of the first categories that Plan F covers are Part A coinsurance and any hospital costs for an extra 365 after your traditional Medicare coverage ends. This is a category that all ten plans cover. Plan F is also going to include the Part B coinsurance or copayment.
One of the most notable areas where Plan F stands out from the other policies is the Part B excess charges. Part B excess charges are exactly what they sound like. When you go to the doctor and get any services or treatments, Medicare has a pre-determined amount that they are going to pay for that particular service. Hospitals and doctors are legally allowed to charge up to 15% more than the Part P approved amount. That 15% would be your responsibility to pay for, but that’s where your Medigap plan comes in. Instead, of having to pay for those bills out-of-pocket, your Medigap plan will pay for it. In most cases, excess charges are not going to be a massive bill that you’re responsible for, but depending on the services that you get, it could easily cost you thousands and thousands of dollars.
Previously, Plan F covered the Part B deductible as well, but because of recent changes from the government, Medigap plans are no longer allowed to cover those deductibles. If you had a plan that covered the deductible, then it will continue to do so, but if you enroll in a plan today, your policy will not be allowed to pay for that portion.
There is also a high-deductible Plan F option that you can choose. With this option, you will have to pay all of the costs until you meet the deductible amount. The deductible limit can change every year, but in 2017, it’s $2,200. After you’ve reached that threshold, then your Medigap plan will start to pay for their portion and the plan will operate normally.
Enrolling in a Medigap Plan F
The next step in getting additional coverage is enrolling in a Medigap plan, which is easier than you may think. The best time to buy a Medigap insurance plan is during your initial open enrollment period. This open enrollment is a 6-month window that begins the month that you turn 65.
During this enrollment period, the Medigap companies are not allowed to decline your application for coverage, regardless of your health or any pre-existing conditions. If you’re in poor health or have severe health complications, this could be your only chance to purchase one of these supplemental plans.
Additionally, during the open enrollment period, the insurance company can’t charge you more for your coverage. If you apply outside of the open enrollment window, then the insurance company is going to look at your medical history and your current health, and they are going to use those records to determine how much they can charge you every month for your coverage. In some cases, applying during the open enrollment date can save you thousands and thousands of dollars every year.
During open enrollment, it’s a guarantee acceptance. There is no chance that you will be declined for coverage. If you apply outside of that window, the insurance company is going to review dozens and dozens of different factors to determine how much of a risk you are for the additional coverage. It’s important that you take advantage of your open enrollment. If you’ve already missed that opportunity, don’t worry, there is still a good chance that you can get the Medigap plan that you need.
Which Medigap Plan is Best for You?
When you’re trying to decide which policy is best for you, there are several factors that you will need to account for to ensure that you’re getting the best plan possible. It’s important that you look at all of the relevant categories and get the supplemental health care protection that you need.
Plan F is the most comprehensive plan that you can purchase, but all of that additional coverage is going to come at a higher price. One of the most important factors to review before you apply for any Medigap plan is your finances. The purpose of your Medicare supplemental policy is to protect your savings account from being drain by hospital bills. It’s vital that you don’t stretch your budget too thin to get that coverage. In most cases, Medigap plans are more affordable than you may think, but you should still look at all of the available options to ensure that you are not spending more for that coverage than you can afford.
Another factor to consider is your health history. If you have a past that is filled with health problems, like heart attacks or other severe complications, then investing in a more compassing Medigap plan is a wise purchase. On the other hand, if you are in good health and your family history doesn’t have a trend of poor health, then you can apply for a smaller plan that will save you money every month.
Need Help?
If you have any questions about Medigap plans or you need help in enrolling for coverage, there are several resources that you can use. You can visit the official Medicare.gov site, and they have dozens and dozens of articles about traditional Medicare and Medigap plans. You can also contact any Medigap insurance professional. There are plenty of agencies across the United States that will be more than willing to help you through the process and ensure that you’re getting the best coverage.
You’ve finally reached a stage of life where you can retire, kick back, and enjoy all of your hard work. Retirement is a special time of life, where you can reap all of the of the benefits, but expensive medical bills and destroy that. There is nothing that you can do about the rising cost of health care in American, but there are a few ways that you can offset those fees to ensure that you aren’t left under the weight of thousands and thousands of dollars of hospital bills.