If you’ve fallen prey to a devious money scam, you’re not alone. In 2020 alone, the Federal Trade Commission (FTC) received millions of scam reports, which amounted to more than $3 billion dollars in losses for those involved.
When you lose money to a scammer, it’s common to feel a little lost yourself. Fortunately, there are several organizations available, from local authorities to the federal government, to assist victims of these scams and even help them reclaim their money.
Read on for four steps to take if you’ve fallen for a money scam and some additional tips to protect yourself from future scammers as well.
What’s Ahead:
What to do if you’ve fallen for a money scam
Scammers are clever thieves, and they’re good at getting what they want. If you’ve fallen for a scammer’s tricks (see the list of common scams below), here are four steps you can take to report the issue, (hopefully) recover your cash, and even prevent the scammer from striking again.
1. Compile data and details about the scam
Before you reach out to your bank or the local authorities for help, make sure you have your story straight.
Gather any relevant documentation, such as email correspondence, the name and contact information of your perpetrator (if available), phone recordings (if applicable and available), and more. This information will not only help regulators identify and (hopefully) stop the scammer, but it can also help keep other would-be victims safe.
2. Contact your bank or the company you used to send money
As stated previously, scams are not uncommon in America. Consequently, many banks, payment transfer services, online sellers, and other relevant organizations have dedicated fraud departments to address the problem of phony charges. In some cases, these financial institutions can reverse the fraudulent transactions and return your money right then and there.
Depending on how the scammer acquired your cash, here is what the FTC recommends you do next:
If you paid with a credit or debit card…
Contact the company/bank that issued the card to report a fraudulent charge and request that they reverse the transaction.
If the scammer transferred money from your bank account…
Contact your bank to report an unauthorized debit/withdrawal and request that they reverse the transaction.
If you paid with a gift card…
Contact the company that issued the gift card to report the scam and request a refund.
If you paid through a wire transfer…
Contact your bank or the wire transfer company to report a fraudulent charge and request that they reverse the transaction.
If you paid through a money transfer app…
Contact the company that owns the app to report a fraudulent transaction and request that they reverse the payment. If the app is linked to your credit or debit card, report the charge to the company or bank that issued the card.
If you paid with cryptocurrency…
Contact the company you used to send money to report a fraudulent transaction and request that they reverse the payment.
If you sent cash via U.S. mail…
Contact the U.S. Postal Inspection Service (877-876-2455) to request that they intercept your package.
If the scammer has access to your financial information, such as a credit card or bank account, you should also freeze your credit report and place a fraud alert on your account in order to prevent the scammer from doing more damage. Or, consider closing the card/account altogether.
3. Report the scam
Perhaps the most important step for any individual to take following a money scam is to report it.
By notifying organizations like the FTC (the main agency that collects money scam reports) of the scam, you empower regulators to fight back against scammers. Agencies, like the FTC, compile scammer trends and habits and use the information to educate communities and prevent future crimes. In some cases, they are even able to gather enough incriminating data to take legal action.
Here are a few places that I recommend reporting your money scam to:
Federal Trade Commission: report the scam through their website or call 1-877-382-4357 (9:00 AM – 8:00 PM, ET).
FBI’s Internet Crime Complaint Center: if you’re a victim of internet crime, report the scam here.
SSA’s Inspector General: if a scammer has your social security information, report the scam through their website or call 1-800-269-0271 (10:00 AM – 4:00 PM, ET).
Treasury Inspector General for Tax Administration (TIGTA): to report an IRS imposter, call 1-800-366-4484.
National Center for Disaster Fraud (NCDF): if you’ve lost money through a form of disaster fraud, such as coronavirus-related scams, call the NCDF Hotline at 1-866-720-5721 or submit a complaint through their website.
For additional advice and even emotional support, contact AARP’s Fraud Watch Network. Their hotline (877-908-3360) can help victims of money scams determine the next best step.
4. Notify local authorities
Along with reporting scams to the FTC and other relevant regulators, you should also contact your local authorities.
Start by reporting the scam to your state consumer protection office. For stolen cash or possessions, you should contact your local law enforcement officials as well to file a police report. This does not only initiate an investigation, but it may help protect fellow community members from the same scam.
Finally, notify neighbors and local businesses of scammers in your area by reporting the incident to the Better Business Bureau. Their Scam Tracker can warn others and help prevent the scammer from causing more harm.
What are some of the most common scams?
According to the Federal Trade Commission (FTC), the phone is still a scammer’s primary weapon, and the most common type of scam is imposter scams. In fact, imposter scams amounted to nearly one-quarter of the 2.2 million scams reported to the FTC in 2020, with crafty con artists masquerading as anything from a government agency to a family friend.
Some of the most common scams — by phone, email, internet, and more — include:
Tech support scams.
Fake check scams.
Charity scams.
Disaster fraud (including coronavirus scams).
Internet scams (fake websites, emails, etc.).
Fake college loans and scholarships.
Fake prizes and sweepstakes offers.
Social Security Administration (SSA) and Internal Revenue Service (IRS) scams.
Tips to guard yourself against future scams
One crucial preventative measure you can take to protect yourself from money scams is to educate yourself on how scammers work.
Since scammers employ several routine tactics, such as offering financial aid that seems too good to be true or establishing a sense of urgency that encourages you to “act now,” there are plenty of red flags to watch for.
Here are some common scammer strategies that you should be aware of:
Saying you’ve been “selected” or “chosen” to receive a special prize or offer.
Guaranteeing you’ll receive money, benefits, etc.
Establishing urgency (“act now,” “this is a one-time offer,” etc.).
Offering “free” services, aid, etc.
Requesting payment in an uncommon way, such as through gift cards or wire transfer.
Using threats or demands to incite action (common for SSA and IRS scams).
Claiming to be a government entity or large organization, such as the IRS or Apple (this is common for phone calls).
Summary
Falling for a money scam can be a jarring experience. Unfortunately, it’s also a common occurrence in America.
Every year, scammers steal billions of dollars from unsuspecting Americans. To assist these victims and prevent scammers from doing more harm, organizations like the Federal Trade Commission are collecting data to disarm the thieves and warn the public. Many banks and financial institutions even have dedicated fraud departments to address fraudulent charges.
If you’ve been a victim of a money scam, fight back! Report the scam and help dismantle this destructive industry to protect your neighbors from the same fate.
Supplemental Security Income (SSI) is a government program that provides monthly income to people with limited resources and low incomes and who are blind, have a qualifying disability or are 65 or older. The maximum monthly SSI benefit is $914 per person ($1,372 for a couple) in 2023
.
The Social Security Administration (SSA) sets the maximum SSI benefit each year. The amount increases in step with Social Security’s cost-of-living adjustment formula.
2023 SSI benefit amounts
Monthly SSI benefit
Annual SSI benefit
Individuals living alone
Individuals living in another household
Couples living alone
Couples living in another household
SSI overview
Congress created SSI in 1974. The Social Security Administration administers SSI. In May 2023, SSI paid benefits to about 7.5 million people.
Forty-four states have programs that provide additional amounts, called supplements, to SSI recipients (Arizona, Arkansas, Mississippi, North Dakota, Tennessee and West Virginia don’t; nor do the Northern Mariana Islands)
. In some states, the SSA administers these additional payments. Qualifications and details for those programs vary by state.
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How to qualify for SSI
To qualify for SSI, you must have limited income and limited resources, and you must meet residency requirements. You must also be 65 or older, blind or disabled
. Each of these qualification hurdles has specific rules.
Limited income
To qualify for SSI, your monthly qualifying income can’t exceed $914 (the largest monthly SSI benefit amount this year). The Social Security Administration may reduce your SSI benefit if you have income from other sources.
Here are some things to know about how the Social Security Administration looks at income:
Earned income — from a job or self-employment, for example — is considered income.
Some earned income doesn’t trigger a benefit reduction, though. For example, the first $65 of earned income doesn’t count against the $914 SSI income limit, and only half of income above the first $65 counts against the $914 income limit
. For example, if you earn $500 a month, the Social Security Administration might reduce your monthly SSI benefit by $217.50.
Unearned income, such as Social Security retirement payments, pension income and dividends from investments, are also considered income. Unearned income typically reduces the SSI benefit dollar for dollar. For example, $500 in monthly pension income could reduce your SSI benefit by $500.
Unearned income also has exemptions. Supplemental Nutrition Assistance Program (SNAP) benefits, tax refunds, home energy financial assistance, state assistance, college financial aid, loans, disaster aid and tribal payments typically don’t count against the income limit.
Things or services you get for free or at a discount, including free or below-market rent, are considered income, even if you got them from family or friends. This kind of support, called in-kind support, can reduce SSI by a maximum of $324.66 per month. In-kind support doesn’t always reduce SSI payments dollar for dollar; the amount depends on a variety of factors, including the type of support you receive and its estimated value.
If a spouse, parent or other essential person with whom you live receives income but doesn’t receive SSI, it can reduce your SSI payments. The reduction isn’t dollar for dollar. Instead, a complex formula determines the reduction amount.
Limited resources
To qualify for SSI, the value of any cash, stocks and personal property you own can’t exceed $2,000 ($3,000 for couples)
.
Like income, there are exemptions. Common examples include a house you own (as long as you’re living in it), one vehicle and household goods.
Residency
To qualify for SSI, you must:
Be a U.S. citizen or national. There are some exceptions, including for some refugees.
Live in a U.S. state, Washington, D.C., or the Northern Mariana Islands.
Not leave the U.S. for more than a month or 30 consecutive days.
Blindness
You may qualify for SSI if you meet the preceding financial and residency criteria and you have20/200 vision or less in your better eye or a narrow field of vision (in technical terms, the Social Security Administration defines this as the widest diameter of your visual field subtending an angle of 20 degrees or less).
Disability
You may qualify for SSI if you meet the preceding financial and residency requirements and you have a disability. The Social Security Administration defines a disability as a physical, mental, emotional or learning impairment that is likely to last for at least one year or can be expected to lead to death.
If you are younger than 18, the disability must severely limit your ability to function.
If you are 18 or older, the disability must prevent you from finding “substantial gainful activity,” which is often, but not exclusively, employment or running a business. If you work and earn more than $1,470 per month, the Social Security Administration likely won’t consider you to have a qualifying disability.
The Social Security Administration doesn’t decide whether you have a qualifying disability; state agencies called Disability Determination Services (DDS) do. The local DDS reviews your application and decides your medical eligibility. In some circumstances, DDS may contact your doctors, teachers, therapists and relatives to learn more about your condition. The agency may also pay for a medical test to determine whether you have an eligible disability.
Many loyalty programs don’t allow you to transfer points to other members, while some programs charge a fee to move points from one member to another. But, World of Hyatt lets its members combine points freely and with few restrictions.
That’s right: Hyatt members can transfer points to other members without any fee. Doing so can help make a stay at one of the best Hyatt hotels a reality. So, here’s what you need to know about how (and why) to transfer Hyatt points to other members.
How to combine points from World of Hyatt accounts
You can combine your World of Hyatt points with any other member. No family affiliation is required, but Hyatt says you can only combine points “to redeem an award.” Additionally, Hyatt notes that each member can only “transfer or receive points once every 30 days.”
To combine points, you must fill out a PDF form. In particular, you’ll need to fill in the name, World of Hyatt number, phone number, mailing address and email associated with both members’ accounts.
The member who wishes to transfer points must also fill in a section authorizing Hyatt to deduct a specific number of points from their account and transfer them to another member. Both members will then need to sign the form.
Once the form is complete, you can email it to [email protected]. Alternatively, you could mail in a paper form, but email will almost certainly be more convenient (and faster) for most members.
Several times, I’ve received points from other World of Hyatt members via this process. In one case, it took as little as 31 hours for the points to reach my account after sending an email request to Hyatt. But, it took almost a week for a transfer in 2022. The time it takes for your transaction may vary.
Hyatt’s terms and conditions note that both members must have active accounts and that the member transferring points relinquishes all rights to the combined points.
Related: Most luxurious Hyatt all-inclusive resorts in the world
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When should you combine World of Hyatt points?
Combining points might seem like an excellent idea if you’re teaming up with other World of Hyatt members to plan a vacation. After all, pooling your points together could unlock the ability to redeem Hyatt points for an upgraded room or book a longer stay. Here are some of the other main reasons why you might want to combine World of Hyatt points:
To stop points from expiring: You’ll forfeit your World of Hyatt points if your account is inactive for 24 consecutive months. However, transferring points counts as account activity and could save your points by letting you move them into an account more active than yours.
To save for a specific award: While there are some excellent Hyatt Category 1 hotels, including the Hyatt Regency Kuantan Resort in Malaysia and the Park Hyatt Chennai in India, you might have your sights set on a higher-category redemption. Combining points into a single account can bring more costly award stays within reach.
To share benefits: World of Hyatt Globalist members can share their elite benefits with friends and family by redeeming points to book Guest of Honor stays. If you know a Globalist member, you can transfer points to their account. Then, have the Globalist member book a Guest of Honor award stay for you.
Related: Best Park Hyatt hotels, according to Globalists
How to earn more World of Hyatt points
If you need to earn more World of Hyatt points, you could transfer Chase Ultimate Rewards points to Hyatt at a 1:1 ratio. This means you can transfer points earned on cards like the Chase Sapphire Reserve, Chase Sapphire Preferred Card and Ink Business Preferred Credit Card to World of Hyatt.
You can also transfer Bilt Rewards points to Hyatt at a 1:1 ratio.
If you want to earn Hyatt points directly, consider the World of Hyatt Credit Card. This card currently offers a sign-up bonus of 30,000 bonus points after you spend $3,000 on purchases in the first three months of account opening. Plus, earn up to 30,000 more points by earning 2 points total per dollar spent in the first six months from account opening on purchases that normally earn 1 point per dollar (on up to $15,000 spent).
Small-business owners can also earn Hyatt points with the World of Hyatt Business Credit Card. This small-business card currently offers a sign-up bonus of 60,000 bonus points after you spend $5,000 on purchases in your first three months from account opening.
Related: Is the World of Hyatt Credit Card worth the annual fee?
Bottom line
World of Hyatt is popular with award travelers thanks to the Hyatt award chart and ease of earning points. Although most Hyatt loyalists would prefer a web form instead of a paper form, Hyatt still earns high marks for making it free and easy for members to combine points.
When World of Hyatt Globalist members book award stays for others, these stays carry Globalist benefits thanks to the Guest of Honor perk. As such, if you have a trusted friend or family member with Globalist status, consider asking whether they’d book special Hyatt stays for you if you combine points with them.
A townhouse is a multi-story home that’s owned by individuals and is attached to at least one other similar unit. This type of hybrid dwelling combines features of a single-family home with a condominium — having some of the benefits and challenges of each. It’s also sometimes called a townhome or a row home or house.
Differences Between Townhomes and Condos
Differences between a detached home and a townhouse may be clearer than differences between a townhouse and a condo. After all, a home is a freestanding structure while a townhouse, like a condo, is part of a complex.
So, how is a townhouse different from a condo? Well, for one thing, although townhouses would share walls with units that are right next to theirs, there wouldn’t be a dwelling above them or below, as could be the case with a condo.
Typically, people who own a condo are responsible for the interior of their units, while funds that they pay into their homeowners’ association (HOA) are used to maintain shared areas and the outside of the building.
Townhouse owners, though, are usually responsible for maintaining the inside and outside alike, which is more like owning a home.
Because townhouse owners are usually responsible for more maintenance than condo owners, their HOA fees are often smaller and they typically have more freedom on how to renovate their dwellings. Neither of these is universally true, though, so it’s important to check the specifics of the property of interest.
Potential townhouse owners may be asking themselves, “Is buying a townhouse a good investment? What are the pros and cons?”
Let’s take a look at the pros and cons of buying a townhouse, along with insights into getting a mortgage loan.
Pros of Buying a Townhouse
Having control over the inside and outside of a townhouse might make it more appealing than the purchase of a condominium. Townhome owners might appreciate how they have more ability to make decisions about their property. Additional benefits of buying a townhouse include:
More Affordable
A townhouse can be an affordable option in communities with higher home prices, providing a space-savvy housing choice in places where available land can be scarce. Although townhouses may be more expensive than a condominium in a community of choice, they tend to be less expensive than a detached home.
Less Maintenance
Townhouses may be appealing to those that are busy; there’s no big yard that needs time and attention and, if owners travel for work and/or pleasure, security services that may be covered by HOA fees can help to protect the dwelling without any extra steps needed — and the complex may even be gated for added security.
Amenities
There may be great shared spaces and amenities for families to enjoy. These can include gyms and pools, and people who own units each have an ownership interest in these common-area benefits — which means they have a legal right to use them.
You Own the Land
Buyers of a townhouse will actually own the land where the property exists. In contrast, the condo owner would only own their unit, not any of the land. This means that someone owning a townhouse is typically less restricted on how the land could be used, perhaps being allowed to grill dinner outdoors, as just one example.
Pay Less in Property Taxes
Owners of a townhouse usually pay less in property taxes when compared to a stand-alone home. This is typically true because of the smaller lot size.
Townhomes could be ideal for first-time homebuyers who are looking for a more affordable option in densely populated areas. It can also be a good choice for people who aren’t interested in doing much home maintenance.
Cons of Buying a Townhouse
Townhomes may not be ideal for everyone. If you don’t want to share walls with another family, for example, a townhouse may be eliminated.
Other potential downsides of buying a townhouse include:
Limited Lot Size
The limited lot sizes that make it easy to minimize maintenance also means that townhouse owners don’t have the benefits that come with a larger yard, whether that means hosting larger picnics, setting up a swing set for the kids, or creatively landscaping the space.
Less Privacy
Townhouses are less private than single-family homes. While there are no units above or below, as there would be with a condominium, walls are shared and backyards are fairly small. This may be problematic if young children living in the townhouse want to run around and play.
Potentially Many Stairs
Townhouses are built upward to maximize limited land, meaning a townhouse could be three or four stories with only a couple of rooms on each floor. This means stairs. Perhaps lots of stairs. And, if someone in the home has physical challenges or has just had surgery, as just two examples, this can make navigation of the townhouse challenging.
Less Appreciation
In general, the value of a townhouse does not appreciate as quickly as single-family homes. Because of this, it may not make sense to buy a townhouse if the idea is to invest in real estate, rather than simply having a desired place to live.
Recommended: Track the Value of Your Home and Real Estate
After reviewing the pros and cons, is buying a townhouse a good idea? Here’s one more consideration: financing the unit.
Financing a Townhouse
Seeking a mortgage loan for a townhouse is similar to one for a single-family home. That’s because, unlike a condo purchase, the buyer of a townhouse also owns the land beneath the dwelling.
When buying a townhouse, lenders will typically want to see a buyer’s monthly income and outstanding debt to determine their debt-to-income ratio and see how much of a mortgage they can afford.
If the townhouse has HOA fees, those would be included in the mortgage calculations. Just as with a single-family home, it can make sense to get preapproved for a dollar amount before townhouse shopping, save money for a down payment and closing costs, and so forth.
Home Loans at SoFi
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.
SoFi Mortgages: Simple, smart, and so affordable.
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SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
I don’t know about Get Rich Slowly readers, but I can tell you that the majority of Motley Fool readers are guys, and that’s true of most financial publications.
That men are more likely to be consumers of investment information could explain the gender gap in financial literacy — especially among older Americans — that some studies have uncovered. I don’t mean to demean the better-smelling sex; in fact, some studies have found women deliver better investment returns than men do. But the deficit in financial literacy is especially troubling given the other challenges women face in retirement planning. Some of these challenges are faced by all women, while others pose particular problems for women who are or were married, especially if they put their careers on hold to raise a family.
The Troubling Statistics Here are some stats to put it in perspective:
Women, on average, earn 76% of what men earn, resulting in an average lifetime earnings differential of $250,000.
Women leave the workforce for an average of 12 years to raise children or care for relatives, resulting in a loss of $550,000 in wages over their lifetimes.
The average woman lives five years longer than the average man. Sounds good, but it means women have to stretch their retirement savings longer.
Some of the biggest health-care costs are incurred in the year prior to death, which reduces financial resources left to surviving family members. Those survivors are most likely to be women, since wives tend to outlive their husbands.
Women of the baby boom generation are more likely to be divorced than women from other generations and to have fewer children to rely on in their old age.
A couple must have been married 10 years before an ex can claim spousal Social Security benefits. But most divorces occur within the first seven years.
In addition, here are some sobering facts from the Center for Retirement Research:
As employers drop defined-benefit plans (pensions) for defined-contribution plans (401(k)s), divorced women may suffer. According to the center’s director, Alicia Munnell, “Traditional pensions give wives an automatic claim on their spouse’s benefits, but 40l(k) plans usually do not.”
Despite being an average of three years younger than their spouses, wives usually retire when their husbands do. This can cut short their careers, savings, and retirement benefits.
Among single women 65 and older, 28.2% are considered poor or near poor, compared with 22.7% for non-married men and 8.1% for married people in the same age group.
A married couple’s combined Social Security benefit is reduced by one-third to one-half when one spouse dies. Also, payments received from a defined-benefit pension might be reduced or eliminated.
What’s a Woman to Do? The solution for all women — single, married, widowed, or divorced — is to take control of their financial futures. It stands to reason that since women live longer, they should consider retiring later. Postponing retirement can mean a larger nest egg and Social Security benefits. Note that Social Security benefits are based on your highest 35 years of earnings. If you worked fewer than 35 years, those no- and low-earning years might be used to calculate your benefit. By working a few more years, you can increase your benefit. Also, non-working spouses can contribute to a spousal IRA, allowing for more tax-advantaged savings.
For married couples, both spouses should be involved in the day-to-day management of the finances. If one person handles the finances and the other doesn’t want to take over after he or she becomes widowed, assemble a list of trusted advisors who could assume those duties.
Remember that a married person can receive a Social Security benefit based on his or her work record or their spouse’s work record, whichever is greater. Because of their lower lifetime earnings, approximately two-thirds of wives receive benefits based on their husband’s record. But if the husband applies for Social Security benefits early — and thus receives a reduced monthly payment — the survivor benefit will also be lower.
For this reason, husbands should consider postponing the application for Social Security benefits as long as possible. The same principle generally applies to defined-benefit pensions, so be sure to consider the benefit to the surviving spouse when you’re deciding when to receive your pension and in what form.
The purchase of life insurance coverage is an important part of one’s overall financial planning process. Without it, loved ones, business partners, and / or other survivors can suffer some consequences. Because of that, you need to ensure that you not only have the right amount of life insurance protection, but also the right type.
Also, another key consideration is knowing that you have purchased your life insurance policy from a life insurance company that is strong and stable from a financial standpoint. This means that the insurer is in good financial standing and that it also has a positive reputation for paying its claims to policyholders. One such company that has a long such history is Aetna.
History of Aetna Life Insurance Company
Aetna has been in the business of offering wealth building and insurance protection products to its customers since the mid-1800s. This company began as Aetna Insurance Company as an annuity fund, with the purpose of selling life insurance back in 1850. It’s name was inspired by a large volcano – which is the most active in all of Europe.
Throughout the years, Aetna continued to grow and prosper – even during times of economic downturn. For example, at the time of the U.S. Civil War, there was a surge in the purchases of life insurance protection.
By the year 1865, the company’s annual income topped $1 million, and by 1864, Aetna had increased its business by 600% over its levels in 1861. Over time, the company moved into some new products – including mortgages, health insurance, disability coverage, and liability insurance coverage. It was also one of the very first insurance carriers to offer group insurance for businesses.
During World War l, Aetna also helped to fund the U.S. war effort by buying and selling millions of dollars of Liberty Bonds. The company has also participated in many “firsts,” such as being the first insurance company to advertise on television – which eventually morphed into its “Aetna, I’m Glad I Met Ya! Advertising campaign. The company also was the first to sell an employer group long-term care insurance plan, as well as the first full-service health insurer to announce a health savings account (HSA) option.
Throughout the years, the company continued its level of expansion, not just in the U.S., but also worldwide. In 1993, Aetna opened its first offices in China. It also expanded into financial services, combining its business units into Aetna Retirement Services in 1996.
Today, approximately 46 million people rely on Aetna for decisions on their health care and their health care spending. The company also continues to provide life insurance, health care insurance, and a broad range of other insurance and related financial products. Aetna is considered to be the fifth largest insurance company in the U.S., and it is headquartered in Hartford, Connecticut.
Reviewing Aetna Life Insurance Company
Aetna has been recognized for many years as an admired company in the life and health insurance industry. It has also been recognized as one of America’s most community-minded companies. The company currently employs roughly 49,500 people across the globe. In 2015, Aetna’s revenue was approximately $60.3 billion overall.
The company is known for its values, and it strives to promote this through its employees and its community involvement. Aetna promotes Integrity, Excellence, Caring, and Inspiration by listening to its customers, and acting with insight and compassion.
Aetna’s Ratings and Better Business Bureau Grade
Aetna is considered to be a strong and stable insurer from a financial standpoint. This is shown through the ratings that it has been given by the insurer ratings agencies. These include an A from A.M. Best and an AA- from Standard & Poor’s.
Although Aetna is not an accredited company through the Better Business Bureau (BBB), the company does have a grade of A (on an overall grade scale of A to F) from this entity. Also, over the past three years, Aetna has closed 567 total complaints through the Better Business Bureau.
Of these 567 total complaints, 340 of them have focused on problems with the company’s products and / or services, 191 have centered on issues with billing and / or collections, 18 had to do with advertising and / or sales issues, 15 centered on delivery issues, and 3 focused on guarantee / warranty issues.
Life Insurance Products Offered Through Aetna
Life insurance coverage through Aetna is available via employer-sponsored plans, and it is not available for individual sale. However, supplemental life insurance may be able to be purchased. This can help to boost the benefits that are available to loved ones and survivors in case of the unexpected. These plans include both basic life insurance coverage and supplemental life insurance.
Plan options include:
Accelerated Death Benefit – If, while covered under a program of life insurance, a person becomes terminally ill, they may request this plan so that additional benefits are paid out to loved ones.
Accidental Death and Personal Loss – This type of coverage offers benefits if an insured is injured in an accident or if they die due to injuries that are sustained. The amount of the benefit is determined by some criteria, which include the coverage amount, as well as the type of injury that is suffered.
Plans may include some or all of the following provisions:
Conversion – When an insured stops working and / or is no longer in an eligible insured class, or they are retired, then there may be an option to convert over to an individual plan from a group life insurance plan.
Premium Waiver – If a plan has a premium waiver, then coverage may be able to continue without the insured having to make any more premium payments.
Portability – This feature allows an individual to take their coverage with them when they leave their employer.
Child Care Benefit – This benefit will help in covering the cost that is associated with child care in a state licensed child care center in the event of the parent’s death.
Educational Benefit – This benefit can help to provide a dependent child with payment for higher education when an insured parent’s income has been lost. For spouses, this benefit can help to provide the opportunity for employment training in order to obtain income.
Repatriation of Remains Benefit – If an insured dies while he or she is more than 200 miles away from home, then this benefit will help to pay for the return of the deceased’s body to a mortuary.
Passenger Restraint and Airbag Benefit – If an insured is properly using a restraint device or if an airbag has been activated – but neither helps to save the person’s life – then this benefit will supplement the accidental death benefit amount.
Coma Benefit – If the insured or a dependent remains in a coma for more than 30 days after an accident has occurred, then they may be paid a percentage of their AD&PL benefit each month. This can occur for a pre-determined number of months.
Other Coverage Offered Through Aetna Insurance Company
Aetna offers a number of products in addition to life insurance. Just some of these include the following:
Where to Find the Best Life Insurance Premium Quotes
If you are looking to find the best life insurance premium quotes for a policy or trying to find a final expense insurance policy, then it is a good idea to work with either an agency or a company that has access to more than just one single life insurance carrier. This way, you will be better able to compare policies, benefits, and premiums – and from there, you will be able to determine which of the plans will be the best for you and your specific needs. Working with an agency who offers many quotes is not only a great idea for your purchase of life insurance but for other forms of insurance as well such as auto insurance coverage and health!
When you are ready to move forward with comparing life insurance policies and quotes, we can help. We work with many of the top life insurers in the marketplace, and we can assist you with getting the best quotes. To proceed, fill out the form on the side of this page.
We know that the purchase of life insurance can sometimes seem confusing. There are a lot of different types of policies out there to choose from – and many insurance carriers in the industry. You want to be sure that you are getting the right type and amount of coverage for your needs so that the people you love and care about can move on. Working with an expert can help you to ensure that this can happen. So, contact us today – we’re here to help.
We all know mortgage rates have been flirting with records over the past year and change, but many have still not taken advantage, or can’t, according to a piece in the WSJ.
Despite the en vogue 30-year fixed floating around five percent, 37 percent of borrowers with the popular loan program have mortgage rates of six percent or higher, per Credit Suisse analysts.
The group of borrowers represents a collective $1.2 trillion in home loans, and billions in lost savings, whether by choice or necessity.
Apparently more than half could lower their rate by nearly three-quarters of a percentage point, and many could shave off a full point, assuming they qualified.
So why are refinance numbers so low? Is it the bad weather, stringent underwriting guidelines, or perhaps another reason?
Well, we found out last week that a staggering 11.3 million, or 24 percent, of all residential properties with a mortgage in the United States are underwater, meaning more is owed on the mortgage(s) than the property is worth.
That’s enough to dampen refinance numbers, though there are options for borrowers looking to refinance with negative equity.
Mortgage bankers have also argued that costs and fees associated with refinancing have risen to the point where it’s unattractive for many homeowners.
Things like mortgage insurance must also be factored into refinance costs for those with little home equity.
All in all, it appears that those who need it least are receiving much of the benefits of the low rates, as refinances only seem to be going to the most creditworthy borrowers.
But hey, there’s always the purchase money mortgage market…
Mortgage rates have moved a little higher over the past twenty-four hours as investors breathe easier about trade-war concerns.
Tomorrow there is another possibility for rates to increase when we get the monthly jobs report for March.
That report will be released early in the morning. Read on for more details.
Where are mortgage rates going?
Rates rise as trade war concerns lessen
Financial market participants are nothing if not fickle.
As we’ve seen over the past few weeks, trade war concerns have cropped up and spooked investors out of stocks and into the perceived safety of government bonds.
That’s what happened early on this week, keeping mortgage rates lower.
However, that trend began to reverse itself yesterday, with more money moving into stocks, pushing Treasury yields higher.
The yield on the 10-year Treasury note moved up about six basis points in afternoon trading and is currently holding at those levels at 2.82%.
Mortgage rates typically move in the same direction as the 10-year yield, so they’ve increased from where they were yesterday morning.
Rate/Float Recommendation
Lock now before rates increase significantly
While mortgage rates might stay in a tight range for several weeks, long-term they are almost certainly going to wind up significantly higher than where they are right now.
That means that most borrowers will be better off locking in a rate on a purchase or refinance sooner rather than later.
Learn what you can do to get the best interest rate possible.
Today’s economic data:
Jobless Claims
Applications filed for U.S. unemployment benefits moved up 24,000 from the prior week to 242,000 for the week of 3/31/18. That puts the 4-week moving average at 228,250.
International Trade
The nation’s trade deficit widened to $57.6 billion in February.
Fedspeak
Atlanta Fed President Raphael Bostic at 1:00pm.
Notable events this week:
Monday:
PMI Manufacturing Index
ISM Manufacturing Index
Construction Spending
Fedspeak
Tuesday:
Wednesday:
ADP Employment Report
Fedspeak
PMI Services Index
Factory Orders
FOMC Minutes
ISM Non-Mfg Index
EIA Petroleum Status Report
Thursday:
Jobless Claims
International Trade
Fedspeak
Friday:
Monthly Jobs Report
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
Last week, I spoke with personal-finance writer Greg Karp about how young adults can save money. We brainstormed ideas for one of his upcoming newspaper columns. “I’m willing to bet that many young people can save money by cutting back on their cell phone,” I said. “It’s kind of shocking how these have become a Need instead of a Want.”
“Yeah,” Karp said. “And what about prepaid phones?”
“I don’t know anything about them,” I said.
“They’re great,” Karp said. “My wife and I are saving hundreds of dollars a year by switching to prepaid phones. I’ll send you a link to an article I wrote.”
It turns out that Karp is something of a prepaid phone evangelist. But no wonder! In this piece from last December, he describes the benefits of switching two cell phones in his household to prepaid:
The net result is savings of about $800 per year, compared with a family plan through a major contract wireless carrier. I haven’t missed my former plan at all. And I’ve cut my monthly cell phone cost to less than $10. My reception and call quality are actually better.
Karp documented his plunge into prepaid phones with two posts to his blog. In the first, he explains why he decided to make the change. In the second, he actually describes the process of switching to prepaid. (This last post was very helpful to me. My big hang-up on making these sorts of changes is figuring out how to actually do them.)
I’m in the middle of an iPhone contract with AT&T but I generally don’t come anywhere close to using all of my 450 monthly minutes. (I had accumulated thousands of rollover minutes until I blew those all away with a phone-intensive business project in March.) I’m willing to consider moving to pre-paid once my current contract is over. When I do, I’ll check out the following providers:
Consumer Reports had an article in its January 2009 issue about how to buy a prepaid phone. Also, check out the following from 20-Something Finance: A review of Net10’s prepaid wireless service
That last article contains some shocking numbers. In the U.S., only 16% of adults use prepaid phones, but:
Elsewhere around the world, prepaid is the norm. Prepaid market share is 35 percent in France, 66 percent in the United Kingdom, 76 percent in Hong Kong, and 90 percent in Italy, according to a recent Federal Communications Commission report.
Basically, major consumer advocacy organizations are proponents of prepaid cell phones, and they’re beginning to catch on among the financially savvy. But so long as it’s more profitable to pitch traditional cell plans, you’re not likely to see a mass movement to prepaid in the United States.
Addendum: Consensus among the commenters seems to be that prepaid cell phones make sense for those who are low-volume users. If you’re a heavy cell phone user, you’re probably still better off with a contract. Your best bet is to spend the time to run the numbers.
Inside: Working mothers face many challenges when balancing work and family life. This guide offers the best jobs for moms. Find out how to maximize your career opportunities while raising children.
Moms often feel like they can’t have a successful career and be a good moms at the same time.
I completely feel that way too. I struggled to be a stay-at-home mom when my kids were little because I wanted to help out financially to help pay down debt. It took me a few years, but I soon realized there are great ways to make a mom and be a great mom!
I have uncovered plenty of jobs for moms with no degree that offers flexible hours, good pay, and satisfying work.
The best jobs for moms with no degree are ones that offer flexibility, good pay, and room for growth.
It can be tough to balance family and career, but it is possible to find a job that fits your lifestyle.
Here are the best jobs for moms with no degree or with a degree.
What jobs are good as a mom?
As a mom, finding a job that allows for flexibility and growth can be challenging, especially if you don’t have a college degree.
However, there are still plenty of opportunities out there that can help you balance your family and career.
Most importantly, you need to find a job that you LOVE! An environment that you thrive in!
With flexible schedules, remote work options, and potential for growth, these jobs can provide the stability and income moms need while still being able to prioritize their families.
Whether you’re looking for a part-time job or a full-time career, there are plenty of opportunities out there for moms.
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.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
What are the best careers for current stay-at-home moms?
Stay-at-home moms face the challenge of balancing their family responsibilities with the desire to pursue a career.
With the high cost of child care, you need to find a job that allows you to take your kids or one that offers flexibility to work around your kid’s schedules.
Hello- that is me! I am a blogger and day trader when I’m not taxing my kids around.
Your best bet is to check out how to make money online for beginners. That is where you will find the most job options that can be done from home or offer flexible schedules, making it possible to have the best of both worlds.
What are the best careers for former stay-at-home moms?
Returning to the workforce after being a stay-at-home mom can be a daunting task, but there are many careers that are best suited for moms.
You still want careers that offer flexibility, high earning potential, and a good work-life balance.
You need to consider your previous employment, any education or certificates you hold, or skills and/or interests.
As such, the answer will vary for each person reading this post. So, consider any one of these past ideas.
Best Jobs for Moms
There are plenty of great jobs for working moms.
The key is to find a position that offers the right mix of income, hours, and flexibility.
Preferably, you want a low-stress job that pays well without a degree.
Here are jobs to consider if you’re a working mom with no degree.
1. Web developer
Web development is a highly flexible and lucrative career option that is ideal for working moms who may not have a college degree. With the ability to work remotely or part-time, web development is a perfect fit for moms who need a flexible schedule.
This field is rapidly growing and in high demand, making it an excellent choice for those looking for a career change.
To become a successful web developer, proficiency in programming languages like HTML, CSS, and JavaScript is essential. Additionally, knowledge of website design and development tools is crucial to create visually appealing and functional websites.
The skills required for web development can be learned through online courses or boot camps, making it accessible to anyone with an interest in technology and design.
Benefits:
Many web developers work from home or have flexible schedules, making it easier for moms to balance work and family life.
The demand for web developers is expected to grow, making it a stable and secure career option.
Web development is a field that allows for creativity and self-expression.
Pay: The salary for a web developer varies greatly on experience, but it is possible to make six figures.
2. Customer Service Representative
Customer service representative is an excellent career option for working moms who do not hold a college degree.
As a customer service representative, you will be the primary point of contact between customers and the organization, providing information about products and services, taking orders, responding to customer complaints, and processing returns.
You can work from home part-time or full-time, and many times the work takes place remotely. To succeed in this role, you will need to have strong communication and negotiation skills, patience, and the ability to multitask.
Benefits:
The work environment is flexible, and you can work from the comfort of your home.
Job offers great work-life balance and schedule options, making it an ideal choice for working moms.
Pay: As a customer service representative, you can expect to make from minimum wage to $20 an hour.
3. Proofreader
Being a proofreader can be a rewarding and fulfilling career for individuals who have a way with words and a keen eye for grammar. As a proofreader, your primary responsibility would be to review and correct spelling, grammar, and punctuation errors in various types of written content, such as books, websites, and social media posts.
Moreover, the earning potential as a proofreader can be quite lucrative. For instance, Caitlin Pyle, a successful proofreader, made $43,000 in one year working part-time.
To get started as a proofreader, it is important to develop the necessary skills. You can start by attending a free introductory workshop or enrolling in a course that teaches the skills needed to become a freelance proofreader.
Benefits:
Great flexibility as you work on a project basis.
The significant earning potential in the field of proofreading, especially for those who are dedicated and skilled in their craft.
Rewarding career path for individuals with a passion for language and a meticulous eye for detail.
Pay: In terms of salary, the median pay for a proofreader ranges from $15.22 to $26 an hour, depending on experience and the project you are working on. Many other proofreaders earn between $1,000 to $4,000 per month.
4. Flight Attendant
A flight attendant is a career that does not require a college degree but extensive training and certification. It is an ideal job for working moms due to its non-traditional scheduling that allows them to work part-time, take extended periods off, and get out of the house.
Flight attendants can take on trips when they know they have child care covered, and stay at home for days at a time.
Benefits:
Enjoy the perks of travel.
Flexible schedules.
Great health benefits.
Pay: The pay ranges by airline, but the median salary is $65000 per year.
5. Blogger
For moms who are looking for a flexible work-from-home job that doesn’t require a degree, becoming a blogger could be the perfect fit.
With the rise of the internet, there is an increasing demand for content writers and bloggers. These jobs allow you to work from home, set your own schedule, and choose the topics you want to write about. Additionally, these jobs don’t require a degree, making them accessible to anyone who has a passion for writing and a way with words.
Blogging is another option for those who want to write about specific topics they are passionate about and share their insights with others.
Benefits:
Be your own boss.
Flexibility blogging offers – work as much or as little as you want.
Work from home.
Choose the topics you want to write about.
Pay: As a blogger, you are creating passive income through ads, affiliating marketing, and paid sponsorships.
6. Engineer
Returning to work as a mom can be a challenging transition, but leveraging your engineering degree can open up a range of opportunities for you. With your technical skills and problem-solving abilities, there are several career paths that can offer a healthy work-life balance and flexibility to accommodate your family responsibilities.
Here are ways to utilize your degree and still have the flexibility you crave:
Pursue freelance work in your field. As a freelance engineer, you have the freedom to determine your own schedule and take on projects that align with your interests and availability. Platforms like Upwork provide a space for engineers to connect with clients and offer their services on a project basis. This allows you to work on engineering projects from the comfort of your own home, giving you the flexibility to balance work and family life.
Explore part-time or remote positions with engineering firms or companies that value work-life balance. Many engineering firms recognize the importance of accommodating working parents and offer flexible work arrangements. With your engineering background, you can contribute to projects and collaborate with teams remotely, allowing you to work from home and adjust your schedule to meet the needs of your family.
Pursue a career in technical writing or content creation. Many companies and organizations require technical documentation, manuals, and instructional materials to accompany their products or services. With your engineering background, you can leverage your expertise to create clear and concise technical content.
Work as an engineering consultant. As a consultant, you can offer your specialized knowledge and expertise to clients on a project basis. Consulting also provides the opportunity to work remotely or have a flexible work arrangement, making it an ideal option for moms returning to work.
By expanding your knowledge and skill set, you can position yourself for more opportunities and increase your marketability in the engineering field.
Benefits:
This can be done on a freelance basis or as a remote employee, allowing you to work from home and have more control over your schedule.
Take on projects that align with your skills and interests.
Have a fulfilling career that allows you to balance work and motherhood successfully.
Pay: Additionally, engineering offers high earning potential, which can help support a family and provide financial stability. Most engineers earn over $100000 a year.
7. Virtual Assistant
For working moms with no degree, finding a job that balances well with their family life can be a challenge. However, virtual assistant jobs can be the perfect solution.
As a virtual assistant with no experience, you can work from home, set your own schedule, and earn a good income.
A virtual assistant provides administrative support remotely, handling tasks such as email and social media management, scheduling appointments, data collection, customer service, and event planning. The skills required for this job include strong multi-tasking, organizational, and time-management skills, as well as basic computer skills.
Here is a virtual assistant checklist to see if you would enjoy this job possibility.
Benefits:
Be the boss of your own schedule.
Build your own small business if you desire.
Earn significant income
Pay: Most virtual assistants can earn $21 an hour or more pending experience.
8. Teacher
Teaching can be an excellent option for moms who want to work in a field that values education and have the same schedule as their kids.
Plus you can take on one of these summer jobs for teachers to extra cash.
Another option is to become a teacher’s aide that assists teachers in the classroom, helping with tasks such as grading papers, supervising students, and preparing materials. To become a teacher’s aide, you need to have a high school diploma or GED.
Benefits:
Same work hours as your children.
Work in a field that values empathy and care for children, while also providing financial stability and work-life balance.
Most teacher retirement plans are well worth working your full 30 years for that ongoing income post-retirement.
Pay: Unfortunately, teachers are one of the lowest paid salaries for the fantastic work they do. Find out if teachers get paid in the summer.
9. Substitute teacher
Substitute teaching can be an excellent job option for working moms who don’t have a degree. It offers flexibility, a chance to get teaching experience, and a decent daily rate of pay.
A substitute teacher fills in for full-time teachers when they are absent.
This experience can be helpful if you decide to pursue a permanent teaching position in the future.
Benefits:
Allows you to work when your schedule permits. You can note your availability and work as much or as little as you like.
Gain teaching experience without committing to a full school year.
Rewarding job option for some.
Pay: As of right now, there is a shortage of teachers, so the pay for substitute teachers has increased immensely. Substitute teachers can earn a daily rate ranging from $60 to $200, depending on the school district and the region with most substitutes making $22 an hour or more.
10. Consultant
As a consultant, you can use your prior work or life experience to offer solutions and advice to clients in a wide range of areas, including sales, marketing, operations, and management.
Furthermore, consulting can be an ideal way to transition your prior work or life experience into a new career and shorten the time spent in school, making it a great option.
To become a successful consultant, you need to have strong communication skills, the ability to work independently, and experience in your field to run a successful business.
Benefits:
As a consultant, you can enjoy flexible work hours.
The potential to work from home.
Ability to control your schedule.
Pay: The hourly rate for consultants varies depending on the type of consultant and the industry, with some earning high salaries.
11. Day Trader
Swing or day trading is a popular option for individuals who want to work from home and make a living from the stock market. Day traders buy and sell securities within the same day, aiming to make a profit from small price movements.
This job requires a certain set of skills and investing knowledge, as well as specific equipment and software.
It is possible to make money with stocks fast.
Day trading can be a good option for working moms with no degree because it offers flexibility and the potential for high earnings. Personally, I love trading stocks and options. I learned from Teri Ijeoma.
Benefits:
Unlike traditional jobs, day trading allows individuals to work from home and set their own schedules.
Successful traders can make a significant amount of money, with some earning six-figure or seven-figure incomes.
While a degree is not required for day trading, I highly recommend taking this investing course to jumpstart your learning.
Pay: Widely variable as it depends on your risk. You can lose money or make $1000 a day.
12. Claims adjuster
As a claims adjuster, you will be responsible for investigating insurance claims, negotiating settlements, and collaborating with other professionals such as lawyers and medical experts. To become a claims adjuster, you will need to possess relevant experience, strong communication abilities, and proficiency in data analysis.
The work environment can be fast-paced and stressful, but the potential for career growth and the flexibility to work remotely make this an attractive option for many working moms.
Claims adjusters must also maintain accurate records and documentation of all claims activities.
Benefits:
While the work environment can be fast-paced and stressful, the potential for career growth is likely.
Flexibility to work remotely make this an attractive option for many working moms.
Pay: Claims adjusters can advance to higher positions within the insurance industry, such as senior claims adjuster or claims manager. Additionally, many claims adjusters work as independent contractors or consultants, providing even more flexibility and potential for career growth.
13. Bookkeeper
As a bookkeeper, one is responsible for monitoring a company’s cash flow by keeping track of transactions and preserving copies of receipts. The job requires great attention to detail, excellent organizational skills, and an ability to analyze and interpret financial data.
This job can be done virtually, making it an excellent position for moms who want to improve their work-life balance.
Bookkeeping does not require a degree and one can earn a decent hourly pay or salary. To become a bookkeeper, one must have bookkeeping skills, which can be learned from online courses.
Benefits:
Flexible working hours, allowing them to work whenever suits them.
Great for someone who loves analytics.
Pay: Most bookkeepers enjoy relatively high hourly salaries. They can work as independent contractors or be paid as a salaried employee.
14. Nanny
Being a nanny is an excellent option for moms who want to balance work and family life.
As a nanny, you would be responsible for taking care of children, cooking, cleaning, and running errands. The best part about being a nanny is the flexible hours, which allow you to work part-time or full-time while still being present for your family.
Finding a job that allows moms to work while still being present for their families is crucial, and being a nanny provides the perfect solution.
Benefits:
Be able to care for your own children at the same time.
Find a nanny job that works for your circumstances.
Stay young and playful while working with kids!
Pay: The pay varies widely for a nanny, but once you have experience and great references, you can earn good money.
15. Marketing Specialist
Marketing can be an excellent job choice for moms looking for flexibility, potential job growth, and the opportunity to work remotely. With the advancement of digital marketing, moms can now pursue a career in marketing without having to leave their homes or work in a traditional office setting.
As a digital marketer, there are various specializations and skills that can be honed to advance in the field. These include SEO (search engine optimization), web development, content creation, and marketing strategies.
By continuously learning and improving these skills, moms can enhance their professional reputation and open doors to new opportunities within the marketing industry.
Benefits:
Ability to work from home.
Work flexible work hours that can be adjusted to fit their family’s needs.
Digital marketing also offers potential job growth and career development.
Pay: As a marketing specialist, the pay can vary greatly if you work as a freelancer or a bigger corporation.
16. Financial Advisor
Financial advising can be an excellent career path for working moms without a degree, offering flexibility and opportunities for growth.
Honestly, I know many people who have successfully entered the workforce as financial advisors.
The first step towards becoming a financial advisor is to obtain relevant certifications and licenses, such as the Certified Financial Planner (CFP) designation. Once certified, financial advisors can work for a firm or start their own business, providing financial advice to clients.
Pursuing a career as a financial advisor can offer a good salary and work-life balance, making it a great option for working moms.
Benefits:
Help others pursue a life of financial independence.
Perfect for someone who loves numbers!
Pay: The pay for a financial advisor varies greatly, but the median salary is $75000 a year.
17. Writer
Becoming a writer can be a great career choice for moms who want to work from home and have a passion for writing. With flexibility, the potential for a decent income, and no degree required, it’s an accessible and rewarding career path.
Highly recommended to take this writing course to jumpstart your networking opportunities.
As a writer, you can work as a content writer, staff writer, or freelance writer.
Content writers produce content for websites, such as blogs, news aggregators, and e-commerce sites.
Staff writers write articles for publications, such as magazines or newspapers.
Freelance writers write for clients without being permanent employees.
What’s more important is having a way with words, strong research skills, and a passion for writing.
Benefits:
Flexibility to work on a story when you are able to.
For those with a love of English, this is a great way to express yourself.
Pay: While the average hourly rate for writers and bloggers varies, it’s possible to earn a decent income in these fields.
17. Social Media Specialist
As a social media specialist, you will manage social media accounts, create and post content, increase engagement, analyze data, and monitor social media. This role requires skills such as graphic design, writing appealing content, an eye for design, and flexibility.
Moms possess many of these skills naturally, such as multitasking, creativity, and communication. These skills can be applied to social media management, including content creation, scheduling, and community management.
Social media management is also a growing field. As a result, this job can provide moms with a stable income and career growth opportunities while allowing them to prioritize their family life.
Benefits:
Great for those who personally love social media.
Easy to work anywhere.
Pay: With an average salary of $52000 a year, this job can be done from home, making it a perfect fit for moms.
18. Human resources manager
Work-life balance is crucial for working moms, and a career as a human resources manager can provide just that.
Human resources managers are responsible for managing employee benefits, overseeing hiring processes, and handling employee relations. This job offers flexibility, including the ability to work remotely or part-time.
A career in human resources management can positively impact a working mom’s family life by providing a consistent schedule that doesn’t involve weekends or holidays.
Benefits:
HR managers are in high demand in many industries, as every organization requires HR expertise to manage its workforce effectively.
Opportunities for personal and professional growth.
Make a positive impact on employees’ lives.
Ample networking opportunities with employees, upper management, and external stakeholders.
Pay: Human resource managers often receive competitive salaries, with average annual earnings exceeding $120,000.
19. Sell on Printables on Etsy
In recent years, the demand for printable products has grown tremendously, making Etsy a great platform for working moms without a degree to earn a steady income from home.
Printables are digital files that customers can download and print at home, such as wall art, planners, calendars, and invitations.
The best part is that once you create a printable, you can sell it repeatedly without having to invest more time or money.
Check out the list of the most popular printables you can create.
Benefits:
A flexible job that allows you to work from home and set your own hours.
Earn a steady income from a single printable, which means you can focus on creating new products and growing your business.
Able to start s small business.
Pay: This is a passive income. Learn how much these sellers have made.
20. Retail associate
Many moms become retail associates to get a discount from the retailer!
Working in retail can be a rewarding and dynamic career choice. Retail jobs are generally physically demanding, as employees are often on their feet for long periods and may need to lift and move heavy items.
The nature of retail work can also be stressful, especially during busy periods such as holidays or sales events. However, it can also be an opportunity to develop and utilize various skills, particularly when interacting with customers.
Benefits:
Working part-time hours while your children are at school.
Discounts to the retailer you work.
Flexible scheduling hours.
Pay: This is a minimum wage job earning $13 an hour to $18 an hour.
21. Nursing
Nursing is a fulfilling career for moms who enjoy taking care of others.
While most nursing positions require a degree, there are also entry-level jobs available for those without a degree. Certified nursing assistant (CNA) and licensed practical nurse (LPN) are two such positions.
Both positions require certification and training, which can be completed in a matter of months. Pursuing a career in nursing as a working mom without a degree offers the flexibility to balance work and family while also providing the opportunity for career advancement.
Benefits:
Flexible scheduling around what works best for your family.
Ability to work part-time or full-time.
Great career option to take fewer hours while your children are little and more hours when they are in school.
Pay: The average hourly rate for nursing varies depending on where you work. Most certified nurses make between $32 an hour to $50 an hour.
22. Transcriber
As a transcriber, you will listen to audio files and create a document that contains an accurate record of what was said. This is one of the best jobs for moms with no degree, as most transcription companies just require you to pass their test before they give you work.
To become a successful transcriber, you will need fast typing skills, attention to detail, and the ability to sit for long periods of time. You may also need to purchase special transcribing equipment, depending on the company you work for. Most transcription jobs will require the ability to type 75 WPM or more.
This is a great non phone work from home job.
With the right skills and tools, you can become a successful transcriber and earn a decent income. So if you are a fast typer with an eye for detail, consider taking a free mini-course to find out if this is the right job for you.
Benefits:
Transcription jobs from home are available remotely and work as many hours as you want.
Set your own schedule.
Make money by meeting deadlines.
Pay: Generally, transcriptionists earn around $19 per hour in the US, but this can be more depending on your employer.
23. Graphic Designer
Graphic design is an excellent job for working moms with no degree, as it allows for significant flexibility in working hours and can be done from home.
As a graphic designer, you will be responsible for creating logos, designing websites, and developing marketing materials such as brochures and flyers. To succeed in this field, you’ll need to be creative, detail-oriented, and able to work with clients to meet their specific needs.
Benefits:
Balance their family responsibilities with a fulfilling and rewarding career.
Perfect to showcase your creative side.
Pay: With a median annual wage of $48000 per year, graphic design is a lucrative career that offers plenty of room for growth and advancement.
24. Online Coach
Being an online coach is a great job for individuals who are looking to earn money online without a degree. While some online coaches do gain certifications, it is not always necessary.
There are several types of coaching fields to enter, including career coaching, life coaching, health coaching, family coaching, and fitness coaching. It is advisable to choose a field that you have experience in or feel comfortable handling.
As a life coach, for example, you can assist clients in achieving their goals, dealing with self-esteem issues, or working on relationships.
Benefits:
Freedom to set your own schedule and work from home, which allows you to balance work and family responsibilities.
Potential to earn a good income, especially if you specialize in a high-demand niche and build a strong client base.
Viable career option for working moms without a degree.
Work remotely from their computers and communicate with clients online.
Pay: Most coaches make between $30 an hour – 100 an hour pending experience.
25. Counselor
Counseling is indeed a vital service that plays a crucial role in helping individuals and families overcome difficult challenges.
As a counselor, you work closely with clients to address various issues and support them in achieving their personal and professional goals.
Counselors can work in diverse settings, including private practices, mental health centers, schools, substance abuse centers, or government institutions. This allows for a wide range of opportunities and flexibility in terms of work environment and schedule. Additionally, advancements in technology have made it possible for counselors to provide their services online, further expanding the accessibility and convenience of counseling.
Benefits:
Flexibility to work part-time or full-time.
Making a positive impact on the lives of others and contributing to their well-being is a significant aspect of counseling that attracts many individuals, including moms, to pursue this profession.
Offers a fulfilling and financially rewarding career path.
Pay: The average hourly rate for counselors is $39 an hour.
Other Jobs Options to Consider:
Home Health Aide: Care for patients in their own homes. Many opportunities for part-time work.
Personal Care Aide: Assist clients with daily tasks such as bathing, dressing, and grooming. Flexible schedules are available.
Event Planner: Plan and organize events such as weddings, conferences, and parties. Can often work on a freelance or contract basis.
Photographer: Take photographs for a variety of purposes such as weddings, events, or marketing materials. Can often work on a freelance basis.
Personal Trainer: Help clients achieve fitness goals through exercise and nutrition coaching. Can often work on a freelance or contract basis.
House Cleaner: Clean homes or businesses on a regular basis. Offers flexibility in terms of schedule and workload.
Online Tutor: This job involves teaching students online in various subjects. Skills required include teaching ability, subject expertise, and communication. To balance work and family life, set a schedule and prioritize family time.
Translator: This job involves translating written or spoken content from one language to another. Skills required include fluency in multiple languages, attention to detail, and communication. To balance work and family life, set a schedule and prioritize family time.
Pet Sitter/Dog Walker: This job involves caring for pets while their owners are away. Skills required include love for animals, responsibility, and time management. To balance work and family life, set a schedule and communicate with clients to ensure availability.
Personal Shopper: This job involves shopping for clients and delivering their purchases. Skills required include organization, communication, and time management. To balance work and family life, set a schedule and communicate with clients to ensure availability.
What to consider when choosing a job for working moms without a degree?
Working mothers without a degree face many challenges when it comes to finding a job.
They need to find a balance between their family and career commitments, and they also need to find a job that is flexible enough to accommodate their schedule. Here are the things to consider when looking for a new job.
1. Hours and Shiftwork
For working moms being able to control their own schedules allows them to be present for their children’s needs while also earning an income is extremely important. It is important to consider the hours you have available to dedicate to a job along with the shiftwork necessary when choosing a job.
Think about whether you want to go part-time or full-time.
Also, weekend shifts are also an option for those who need to work around their family’s schedule. Even better, remote work has become increasingly popular and offers even more flexibility.
2. Salary
Salary considerations play a significant role in achieving this stability a mom desires.
It is essential to explore different salary options and negotiate to ensure that you are being fairly compensated for your skills and experience.
Consider starting salary, the potential for growth, benefits packages, and negotiation when exploring job options.
3. Responsibility and Stress
As any working mom can tell you, being a working mom can be an incredibly stressful experience. Mothers often have to balance their work responsibilities with household chores and childcare, which can be overwhelming.
Finding a job that balances responsibility and stress is crucial for working moms to maintain their mental and physical health, and to be able to provide for their families.
4. Level of Education Required
As a working mom, it is important to consider the level of education required when choosing a job.
Plus, it is crucial to research job requirements and considers personal interests and skills when selecting a job. By doing so, working moms can find a job that offers flexibility, decent pay, and job satisfaction.
5. Professional Licenses and Certifications
Obtaining, professional licenses and certifications is an excellent way for working moms without a degree to increase their job opportunities, earn higher salaries, and improve job security.
These certifications and licenses are often required for specific industries, such as healthcare, education, and law enforcement.
With so many options available, it’s important for working moms to explore the various certifications and licenses that are relevant to their industry and career goals.
6. Work-Life Balance
Balancing work and family life is a challenge for anyone, but it can be particularly daunting for working moms.
However, there are several factors to consider when choosing a job that can help achieve a work-life balance:
Flexible Work Hours: A job with flexible work hours can help working moms without a degree balance their work and family responsibilities. This can include part-time work, remote work, or jobs that allow for flexible scheduling.
Remote Work Options: Remote work can be an excellent option for working moms without a degree who need to work from home.
Company Culture: A supportive company culture can make all the difference for working moms. Look for companies that offer family-friendly policies such as paid time off, flexible work schedules, and on-site childcare.
By prioritizing work-life balance, working moms can achieve success in both their personal and professional lives.
7. Vacation and Time Off
For working moms without a degree, vacation and time off are crucial benefits to consider when evaluating a potential job offer.
Here are three factors to consider when reviewing a company’s vacation and time off policy:
The number of vacation days offered, including paid time off for sick days and personal days.
The flexibility of the policy, such as the ability to take time off for family emergencies or unexpected events.
The potential for extended leave, such as maternity or paternity leave.
8. Career Advancement
When considering a job as a mom, career advancement is an important consideration. It is essential to choose an employer and a job that offers opportunities for growth and progression in your chosen field.
Advancing in your career not only allows you to achieve personal and professional goals but also provides financial stability and job satisfaction.
Don’t underestimate the power of setting clear career goals and actively working towards them.
By investing in your skills, building a strong network, and setting clear career goals, you can pave the way for a successful and fulfilling career as a mom.
9. Job Security
Job security is especially significant for working moms, who may face more challenges in finding and keeping a job.
Typically, working moms are limited in their job options.
So, look for careers that provide financial security as well as companies with a solid track history.
This is the perfect side hustle if you don’t have much time, experience, or money.
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FAQ
You can search for remote jobs, part-time jobs, or freelance gigs.
You can also look for companies that have flexible policies in place. Also, reach out to your network and ask if anyone knows of any openings that are flexible.
Stay-at-home moms can find a variety of jobs that can be done from home and offer flexibility to work around their schedule. Here are some of the options available:
Working from home offers the benefit of having a better work-life balance and the ability to be present for their families while still earning an income.
Which Job for Moms will You Choose?
For moms who want to balance family and career, finding a job that offers work-life balance and career growth is crucial.
Not only can working increase income, but it can also lead to career advancement and personal fulfillment.
Above, we listed many great jobs for moms. You can choose a job that allows you to work from home, or one that provides flexible hours. Also, many moms like me prefer one of these early morning jobs.
Whatever you choose, make sure you find a job that you enjoy and that allows you to spend time with your family.
Know someone else that needs this, too? Then, please share!!