“Saving is the key to wealth,” I wrote last week while trumpeting the extraordinary power of compound interest. “If you do not spend less than you earn, and if you do not save the difference, you cannot build the wealth you desire.” The younger you are when you begin saving, the more time compounding has to work in your favor, and the wealthier you can become. “The next best thing to starting early,” I wrote, “is starting now.”
Other Options
A few readers noted that while the mathematics of compounding make sense, it’s not motivational for those too old to take advantage of its full force. “This is pretty depressing for those of us who spent our 20s with practically no income thanks to universities,” wrote one commenter. Her sentiments were echoed by several others.
It’s important to note that saving is not the only smart thing you can do with your money. Your education is an investment, too. Yes, you should begin to save as soon as possible, but there are other good options, too.
My friend Joel is in medical school. I haven’t talked to him about his personal finances, but I doubt he has much saved right now. He lives a frugal lifestyle, but that’s out of necessity. He doesn’t have an income that allows him to splurge or to save. But Joel is obtaining an education that will pay dividends in the future. He’ll leave school with huge debt, but he’ll also have tremendous earning power. And he loves his work.
There are times when it makes sense not to save. Save when you can, but don’t sacrifice your happiness or your future to fully fund your Roth IRA.
Past, Present, Future
What if you didn’t start saving when you were young? What if you could have saved, but opted not to? What if, like me, you find yourself approaching 40 with the bare minimum of retirement savings. What should you do?
First, don’t beat yourself up over the past. There’s no sense fretting over choices you made when you didn’t know better. Do I wish that I’d saved for retirement instead of buying comic books and computer games? Absolutely. But what’s done is done.
Instead, structure your present so that it matches your priorities. If you’ve decided that saving is important, that you want to put your money to work in the stock market, then make moves in that direction. Open a Roth IRA. Set aside $50 or $100 or $200 a month.
If you look at your current situation and still don’t think you can save for retirement, that’s fine. Sometimes other things take priority. When you’re choosing between funding a Roth IRA and attending university, both are excellent options. (I would prefer the education.) But when you’re choosing between a Roth IRA and a new car, I believe saving for retirement is almost always the right choice. Be conscious of the trade-offs you’re making. You can’t have everything.
Finally, set goals for the future. The road to wealth is paved with goals — they are the fundamental building blocks of success. When you know what it is you’re trying to achieve, you can steer your life (and your finances) in that direction.
For example, I want to write from home. I’ve spent the past year arranging my life to make this possible. My future financial plans also reflect this. (That’s one reason we’re accelerating our mortgage payments; if I wasn’t self-employed and working from home, this might not be a priority.)
Happiness is More Than Money
If you didn’t start saving when you were young, don’t panic. Examine your priorities. Set goals. Structure your finances to reflect what it is you hope to get out of life. Saving is important — and you should begin as soon as possible — but it’s not the only component of personal finance.
Last year, Scott Adams (of Dilbert fame) wrote about his Happiness Formula:
Happiness = Health + Money + Social Life + Meaning
Whenever I feel bad about my financial situation, I remind myself that money isn’t everything. It’s only one part of the Big Picture. I’m actively working to improve my relationship with money, and that’s what matters.
There is no one right answer. Do what works for you.
Michigan State University Federal Credit Union said this week that it will make its first-ever expansion outside of Michigan by opening five branches in Chicago next year.
The $7.5 billion-asset credit union in East Lansing said the institution’s strategy has been to locate branches where its members live, and more than 10,000 Michigan State University students and alumni now reside in Chicago.
“Many MSU alumni move to Chicago post-graduation,” President and CEO April Clobes said in an interview. “In addition, the incoming MSU student class has a high number from Illinois.”
The branches will be located in the Lakeview, Lincoln Park, Wicker Park, Gold Coast and Old Town neighborhoods.
Clobes said MSUFCU has been evaluating the Chicago region for some time, and the right mix of retail locations near where its existing and eligible members reside became available.
Post-covid, there were more available location options to consider, she said.
MSUFCU is the second largest credit union in Michigan behind only the $12.4 billion-asset Lake Michigan Credit Union in Caledonia.
MSUFCU has offered services digitally to members outside of Michigan for many years, including selling mortgage products in 18 states across the country.
But Clobes said physical locations grow membership and existing member balances faster than digital services alone.
“Our members and eligible members are able to do all of their business with the credit union online, yet when we move into a market, the members appreciate having a branch location for complex transactions and financial education,” she said.
Whether digital or physical, credit unions need to be able to differentiate themselves to their members and ensure they have the product mix and delivery channels.
While members make nearly 2 million visits a year to MSUFCU branches, they log in to its mobile app 36 million times a year.
“Their branch visits are purposeful for when the member would like to be assisted by our team versus self-serve. Physical locations help to support a growing community through employment and economic activity as well,” Clobes said.
Michael Fryzel, a Chicago attorney and former chairman of the National Credit Union Administration, called the entry into the Chicago market by Michigan State University FCU an “excellent move.”
“The potential exists for substantial membership growth for the credit union. There are thousands of MSU graduates and family members who live and work in the city and surrounding suburbs,” Fryzel said.
Michigan State University FCU has more than 350,000 members. Clobes said historically when the credit union adds a branch to a digital-only region, it grows about 30% in both balances and new members in that area.
She anticipates the Chicago market will see similar growth.
“Our annual new member growth is between 5% and 6%, and we anticipate that moving to a new market area will help us maintain this level of membership growth through better retention of existing members as well as attracting new eligible members,” Clobes said.
So will the Chicago expansion serve as a springboard for moves into more out-of-state markets?
Clobes was noncommittal.
The credit union already has plans for growth in new markets and in the areas it already serves in Lansing, Traverse City Grand Rapids, Oakland County and metro Detroit.
“We will evaluate the success of these locations to determine possible additional locations in the Chicago suburbs,” she said. “While we are moving into the Chicago market, we are still branching throughout Michigan where our members are concentrated without a convenient branch location.”
MSUFCU’s plans continue the broader industry pattern of credit unions continuing to build branches. There were 20,694 branches among federally insured credit unions in March 2023, up 87 branches from a year ago, according to recent data from the National Credit Union Administration.
Whether you’re new to tech or an experienced professional, upskilling with a bootcamp can help you advance in your career and potentially increase your earnings.
The average salary after a coding bootcamp is around $70,000 per year, according to a 2017 analysis by Course Report, a website that researches the coding education industry and reviews bootcamps. This average salary could include graduates with an associate degree or higher.
Your earnings can depend on the following factors:
Specialization.
Years of experience.
College education.
Here’s what you need to know about salaries after coding bootcamps and how to maximize your earnings.
What impacts salary after coding bootcamp?
Location
Where you live affects how much you make after completing a coding bootcamp. Tennessee has one of the highest average annual salaries for bootcamp graduates — $72,650 — according to ZipRecruiter, an online job board. Georgia has the lowest average post-bootcamp salary: $46,571 per year.
Here are the top 10 states with the highest salaries after coding bootcamp in the U.S., according to ZipRecruiter.
Average Annual Bootcamp Salary
Massachusetts
Connecticut
Rhode Island
Washington
Source: ZipRecruiter
Specialization
There are several areas to choose from when deciding what to study in a coding bootcamp. Each area requires a different level of tech knowledge and different responsibilities — like managing a team, strategic thinking and interacting with clients.
All of these factors can impact your salary. Generally, the more responsibilities you have — and the more you interact with direct reports, clients and other stakeholders — the more you’ll make.
For example, a development operations engineer — responsible for leading teams in addition to writing code and maintaining software — earns on average $125,636 per year, according to Indeed, an online job search platform. Keep in mind that these jobs could also require college degrees.
A technical support specialist — who is more likely to be behind the scenes developing, monitoring and troubleshooting digital products — earns on average $44,239 per year, according to Indeed.
Experience level
Coding bootcamp graduates can progress in their careers and earn more money post-bootcamp as they gain additional experience.
The median starting salary for bootcampers is $65,000 per year, according to a 2017 study by Course Report. By their second job, graduates make $80,943, on average. The average salary jumps to $99,229 by a bootcamp graduate’s third job.
College education
Most bootcamps do not require a college degree to enroll. That’s one reason it can be attractive to beginners wanting to learn technical skills. But having a four-year degree — in addition to completing a bootcamp — could help you earn more.
Bachelor’s degree holders who completed a coding bootcamp received an average salary of $71,267, according to a 2020 survey by Course report. That’s more than the average post-bootcamp salary of $61,836 for those with no college degree.
Salary could increase with more advanced degrees. If you have a doctorate and complete a bootcamp, you could earn around $83,250 per year, based on the 2020 average post-bootcamp salary reported by Course Report.
But a four-year degree may be significantly more expensive than a coding bootcamp. Think about your learning and career objectives — in addition to your earning potential — to determine if a degree program is worth it.
How to increase your chances of a higher salary after coding bootcamp
The salary an employer offers you should be based on your expected value — something your previous experience will help them measure. Fortunately, a major selling point of coding bootcamps is the experience you’ll gain from practical, hands-on training.
Here’s how to leverage your bootcamp skills to land a higher salary.
Build a portfolio. Your bootcamp work is valuable. Don’t hesitate to show it off. You can even go a step further and develop personal projects to show just how dedicated you are to your career field — and demonstrate a skill set that justifies a higher salary.
Don’t be afraid to negotiate. Even when you put your work in front of employers, you may not get an offer that reflects your value. But you don’t have to take the first offer you get. You can ask for more. Some bootcamp schools offer career services to help you negotiate your salary and get closer to the pay you deserve.
Frequently asked questions
What are coding bootcamps?
Coding bootcamps are short-term training programs designed to teach practical, in-demand tech skills, like coding and web development.
How do coding bootcamps differ from a degree?
Coding bootcamps typically focus on specialized skills, while a bachelor’s degree in computer science, for example, will cover more general knowledge. Many coding bootcamps are also much shorter than four-year degree programs — but bootcamps are not accredited. That means you won’t graduate from a bootcamp with a degree.
Do coding bootcamps pay you?
Students do not earn money for attending a coding bootcamp. Instead, you’ll pay to attend a bootcamp, like other career-training programs.
How much do coding bootcamps cost?
Tuition for a coding bootcamp can run between $7,800 and $21,000 — with an average tuition price of $13,584, according to Course Report. Some can be free, however. Costs vary by the program’s length, whether it’s in person or online and any additional student services the school offers.
How much can you make after a coding bootcamp?
Bootcamp graduates make $70,000 per year on average, according to a 2017 study by Course Report. Your salary will depend on your location, experience level, specialization and level of education.
Is it hard getting a job after a coding bootcamp?
Your job search after completing a bootcamp will look a lot like any other job search — including networking, highlighting your experience and showing what you’ll bring to the company. Some bootcamp schools offer career services to help students post-graduation.
Capabilities and features Zendesk Sell offers numerous productivity tools and features to help mortgage companies surpass revenue targets. Users can sync their existing emails, create customized email sequences, build targeted prospect lists, and utilize the task player to keep track of given leads, tasks, deals, or contracts. Here is a look at some additional features: … [Read more…]
The American dream of homeownership is getting further out of reach for many Hoosiers.
As pandemic-era supply shortages began to return to normal, home prices fell, giving prospective homebuyers hope they could find something affordable. But those hopes were dashed for some who found they could not pay the high mortgage rates, which are currently more than double pandemic lows.
According to Paul Schwinghammer, former president of the Indiana Builders Association, markets will bounce back eventually. But when prices return to “normal,” many will still be unable to afford the investment that sustained previous generations.
“The days of a brand new home at $200,000 are probably very much in our rearview mirror,” Schwinghammer said.
As potential homeowners are pushed into becoming renters due to high mortgage rates, Schwinghammer said the thriving rental market is not the silver bullet to the housing market some think it is.
“That’s not the American dream,” he said.
Homeownership is increasingly expensive
Housing has become more expensive overall in the past several decades.
In 1950, Hoosiers made less — the median household income was $2,827, or about $30,000 in today’s dollars — now the median household income is $61,944. But housing prices have zoomed past that growth.
In 1950, the inflation-adjusted cost of the median home value was around $70,000. Today, the median listing price is $218,000, according to the state housing dashboard. In other words, the cost of housing has tripled, clearly outpacing wage growth in Indiana.
The cause of this gap is hotly debated. Some argue it is due to a decreased supply of housing — in Indiana, 16.8% of existing housing was built prior to 1940, and the percentage of homes built in the 2010s makes up the smallest slice of the housing pie at just 5.3%.
Experts point to the 2008 housing crash as a major factor in the building slowdown. After the crash, the membership of the Indiana Builders Association fell from 7,200 to 3,000, and the industry has been cautious ever since.
While building picked up pace in response to pandemic-driven demand, Indiana still has a 1.04% shortage of housing stock according to FreddieMac — the largest of all surrounding states.
Density, zoning and community opposition
At the most basic level, a housing unit cannot be cheaper than the raw cost to build it. During the pandemic, supply and demand saw timber, copper and other building materials spike in price, which was exacerbated by high labor costs. Schwinghammer argues this raw cost can be further increased by municipal regulations surrounding lot size, materials and aesthetics.
“That’s all well and good, except you’re ruling out homebuyers,” Schwinghammer said.
For affordability advocates, a relatively simple solution is increasing the amount of homes that can be built in an area by reducing lot size. This allows more homes to be built, increasing supply, all at a lower cost to builders, which are hopefully passed onto consumers.
But in practice, housing density is fiercely contested. Examples of density can range from apartment complexes to duplexes, which can be impossible if an area is zoned for single-family use. Other times, things like parking space requirements can thwart density attempts.
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But overwhelmingly, the biggest opposition to denser housing can come from neighbors and community members, whether it’s an apartment complex in Broad Ripple or a controversial zoning change to allow for multifamily housing in certain Bloomington neighborhoods. In fact, a survey of New York developers found that the majority of opposition to developments came from residents.
Ultimately, Indiana joins most of the country in having high rates of single-family detached housing, with the housing type making up 73.1% of all housing in Indiana, according to the state housing dashboard.
A shortage of affordable housing
While housing supply remains low in general, low-income Hoosiers are facing an even bigger gap when it comes to affordable housing supply. According to a Prosperity Indiana report, the state is 120,796 homes short of affordable and available rental homes, which means there are only 39 affordable units available for every 100 low-income renter households. The numbers show Indiana is performing worse than the regional average.
“Indiana is increasingly out of step with its Midwest peers when it comes to affordability and stability,” Andrew Bradley, policy director at Prosperity Indiana, said.
One method of helping low-income renters is Section 8 housing, a federal program that allows income-qualifying individuals to pay subsidized rents. But the program often fails to meet the demand — in Indiana, people are often on waitlists for three to five years before they can get housing, and sometimes the waitlists themselves are closed. There are currently seven waitlists open on the Indiana Housing and Community Development Authority website, spanning only about a third of counties.
With state and federal assistance so hard to find, some municipalities have attempted to fill the gap in affordable housing through local regulations.
In Bloomington, where housing is the most expensive in the state, local officials attempted to implement inclusionary zoning in 2017. Inclusionary zoning is a type of policy that requires developers to include a certain percentage of affordable units in their projects instead of trying to individually negotiate more affordable units through incentives.
That same year, the Indiana General Assembly banned municipalities from doing so, putting a direct halt to the city’s plans. Today, Indiana preempts municipalities from enacting four different types of equitable housing policies. In addition to inclusionary zoning, these include short term rentals, source of income nondiscrimination policies and rent regulation. Indiana is the only state in the country to prohibit all four policies.
Bradley said Indiana’s Housing Task Force is focusing too much on building new homes instead of sharing a focus on strengthening protections for tenants and improving current housing stock. He said this is partly due to a lack of representation of everyday Hoosiers on the task force.
He referenced Senate Bill 202, bipartisan legislation focused on tenant protections that was later stripped down to a study bill, as an example of the priorities of the legislature. The bill did not end up passing the House, and was not selected as a summer study topic.
“Suppliers of new housing have dominated the conversation at the Statehouse,” Bradley said.
Homebuyers suffer from high rates
Although commodity prices have decreased 10% across the board, Schwinghammer said, homebuyers are not seeing true relief due to high mortgage rates, which currently hover around 7%. Although mortgage rates have spiked as high as 16% in previous decades, the current rate is higher than pre-pandemic rates of around 4% and pandemic lows of 3%.
Part of this is due to the Federal Reserve’s sharp hikes in interest rates in order to combat inflation.
Ultimately, Schwinghammer said it would take 33% of the average person’s wage to begin homeownership — resulting in the highest debt to income ratio since 2007. Housing is effectively the least affordable it’s been in nearly two decades, he said.
As potential homebuyers are shut out of the market, builders have turned to the build-for-rent phenomenon sweeping the country in order to keep busy. BFR involves communities of single family rental homes that people can live in without making a purchase, allowing people to avoid interest rates.
Schwinghammer said BFR, which once took up 3% of the market, is now 15%.
As people struggle to afford new homes, pre-existing — and often cheaper — homes are selling less because homeowners don’t want to trade in their lower rates for the current 7% interest rate.
But the market is cyclical by nature, Schwinghammer said, and interest rates will likely be declining in a year.
“The natural ebbs and flows of the market will allow that to happen,” he said.
I’ve been working at home for a month now. I like it. The first week was a little scary, but the past few weeks have been immensely productive. I’ve caught up on e-mail. I’ve conducted and given some interviews. And I’ve planned some posts for the future.
Most of my day is spent at my desk writing. The first few days were awful. My wrists hurt. I couldn’t find the right chair height to match my keyboard and desk. Eventually I discovered a solution: move the keyboard from the keyboard tray to the desk and raise my seat so that I can use the entire desk surface to support my arms. But this created another problem. Apparently my legs are a little short. When I raised my seat to its maximum height — which is where it needs to be — my toes dangled a couple inches above the floor. I felt like a little boy.
Because an ergonomic office is vital for what I’m doing, I went to the nearby office supply store to buy a footrest. “Sure, we have those,” the helpful salesman said. “Well, we have one model, anyhow,” he added.
He led me to the fax machines to show me their single footrest. (Why was it with the fax machines? I have no idea. I would have put it with the chairs and desks.) I picked it up and was going to buy it, but then I thought to ask, “How much does this cost?”
“$49.99,” he said.
“Fifty dollars?” I said. I think my jaw dropped.
“Well, $49.99,” he said. “It’s a very nice footrest — it’s fully customizable.”
“No thanks,” I said, putting the footrest back on the shelf. “I could build the most beautiful footrest in the world for $50.”
“Yeah, you probably could,” agreed the helpful salesman.
Originally, I had planned to use a block of wood to prop up my feet, but then decided an actual footrest would be a treat for myself. But not for $50. (Nor $49.99.)
Instead, I drove home and rummaged through my woodpile. Wouldn’t you know it? I found an 18″ length of two-by-four and a 12″ scrap of something else. Three nails later, I had my own frugal version of a customizable footrest.
Depending on my mood, I can angle my feet up or down. I can set the block of wood in a high position or a low position. I’ve been using my footrest for two weeks now. It works great. Sure, it’s ugly, but that’s okay. I like that it’s ugly. Every time I see it, it reminds me that I have an extra $50 in my pocket.
When purchasing life insurance, it is important to have choices. As there are many various needs, policy holders can be better served by being able to essentially “customize” their plans in order to keep up with changes in their lives.
One of the most flexible forms of permanent life insurance is universal life. This type of coverage provides guaranteed death benefit protection, along with a fixed rate of interest on the cash value component of the plan. Cash in the policy can grow on a tax-deferred basis, and because of this, it can grow substantially over time.
Yet, universal life, or UL, also provides so much more than what is offered with more “generic” forms of permanent coverage such as whole life insurance. For example, with a universal policy, if the policy holder’s needs happen to change, then he or she may actually alter the policy to better fit their then-current scenario. This greatly differs from whole or term life policies which are “locked-in” once the policy is in place.
How Universal Life Insurance Works
Universal life is a form of permanent coverage. This type of policy offers the policy holder death benefit coverage, as well as a cash value component. Yet, while this may sound very similar to whole life insurance, universal policies differ in many ways – starting with the fact that these policies can offer much more flexibility.
Similar to other types of permanent life insurance, the cash that is inside of a universal life insurance plan is allowed to grow on a tax deferred basis. However, the policy holder is allowed to move the funds between the cash value component and the insurance component of the policy.
What this means is that the policy holder can in essence change – within certain stated guidelines – the amount of the policy’s death benefit amount. In addition, the policy holder can also change the amount and the due date of the premium as well.
There are also more underlying options that are available in terms of allowing a universal policy holder’s cash value to grow. For example, policy holders can typically choose from a variety of different investment vehicles from both the fixed income and the equity investment markets.
Types of Policies
In addition to regular universal life, there are other variations of the product. For example, there are variable universal life and indexed universal life. Variable universal life insurance is a type of permanent coverage that offers both a death benefit, as well as cash value build up. Just like regular universal life, the policy holder can – within certain guidelines – change both the timing and the amount of the premium.
Rather than growing at a set rate of interest, though, with variable universal life, the funds in the cash component are actually managed professionally (unlike variable life policies that are managed by the policyholder) in underlying “subaccounts” and can be in entities such as stocks, bonds, and mutual funds. This can allow the opportunity for additional growth. However, it can also present more risk if the market has a negative return.
Overall, variable universal life insurance can provide policy holders with a number of different subaccount options – which can also include fixed option choices that have a minimum rate of interest. These policies also offer flexible premiums, payment schedules, and death benefit options.
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The indexed universal policy option allows policy holders the ability to own permanent life insurance protection, along with a cash value component that provides them with not just a guaranteed interest rate, but also with interest that is based partially on one or more market indexes such as the S&P 500.
With this type of policy, the policy holder may incur a cap that limits the maximum amount of growth that they can attain in a given period of time. However, in return for that, they are also provided with a minimum “floor.” This means that they are also protected against market losses – essentially guaranteeing them that they cannot lose any of their principal.
In many ways, indexed universal life insurance works in a similar fashion as most other types of coverage in that the policy holder pays their premium, and the net premium is then applied to the actual life insurance death benefit.
A portion of the premium is also credited to the policy’s “index” account, which is credited at the index growth rate. Over time, the cash in the policy’s cash portion can grow significantly – especially as the funds are protected against any downside market losses. Over time, the cash can grow substantially – and can be accessed via withdrawals or policy loans.
There are numerous benefits of owning an indexed universal policy. These can include having permanent death benefit coverage, provided that premiums are paid within the grace period and that the policy remains in-force.
As with most other universal life insurance policies, these plans also provide the flexibility to either increase or decrease the policy’s premium, within certain limits. In addition, the policy also offers the ability to increase the cash value portion, yet with downside protection. This can be viewed as a true win-win.
Considerations When Purchasing
When purchasing a universal policy, it is important to keep several factors in mind. First, there should be a good mix of different investment options to choose from for the policy’s cash component. This will help to both increase growth opportunity and to diversify.
It is also a good idea to check for policy guarantees. Most universal life insurance policies will provide at least some form of a guarantee regarding its investment options, as well as the minimum amount of premium that it will take to keep the policy in force. Likewise, it is important to ensure that the universal policy is flexible and can be adjusted in the future.
How Much Will a Policy Cost?
When determining the quote on a universal life policy, there are a variety of factors that are considered by the insurance company. This is because the insurer wants to determine whether it is taking on an appropriate amount of risk, and that it will not have to pay out a large amount of claim soon after it accepts an applicant for coverage.
Some of the key factors that life insurance carriers consider when reviewing an applicant for coverage include the following:
Age
Gender
Height and weight (primarily, weight as it pertains to the individual’s height)
Smoking status
Alcohol consumption
Marital status
Employment and income status
Overall health condition
Family health history
Hobbies (whether or not risky or dangerous hobbies such as sky diving or scuba diving take place)
In addition, policies that are “traditionally” underwritten, will typically require the applicant to take a medical exam, though if needed, we can find those carriers that will offer a policy for life insurance with no medical exam. This will entail meeting with a paramedical professional who will take a blood and urine sample. These samples will be tested for certain types of health ailments that could also pose certain risks to the company in terms of having to pay out a potential insurance claim.
Depending on the applicant’s overall health after all of the information has been reviewed, the insurance underwriters will be able to obtain a much clearer picture of the person’s risk status. At that time, a coverage determination can be made, as well as a premium price can also be determined.
If the individual is considered to be of “average” health – and will also likely have an “average” life expectancy given his or her health – then they will typically be rated as a Standard policy.
If, however, the individual has a slight health issue – but not enough to be declined altogether for coverage – then they will typically be rated as a Substandard. This means that they will still be offered coverage. However, that coverage will be provided at a higher premium rate.
Conversely, if the individual is in excellent physical and mental health, then it could turn out that the insurance company rates him or her as a Preferred. In this case, they will be able to obtain their policy at a lower than average premium rate.
For applicants who are declined for coverage due to health issues, there are other options for coverage. These can include going the route of a no medical exam policy or a guarantee issue policy. In these cases, an applicant will not be required to go through the medical examination in order to obtain a policy. While the premium for this type of coverage is typically much higher than for comparable coverage that is traditionally underwritten, it could be the only option in some instances.
How and Where to Get the Best Quotes
For those who want death benefit protection, along with additional benefits, universal life insurance should certainly be a consideration. These policies offer many advantages, such as:
Death benefit coverage – UL policies provide lifetime death benefit protection – provided that premium payments are made within the policy’s grace period.
Tax-deferred growth – The cash within the policy’s cash value component is allowed to grow on a tax-deferred basis. This can allow funds to increase exponentially, as tax will not be due until the time of withdrawal.
Interest rate guarantee – The cash in the policy’s cash value component is also provided with a guaranteed rate of interest. This means that the growth is guaranteed not to fall below a set level.
Flexibility – Because UL policy holders are allowed to change the amount and timing of their premium payment, these policies come with a great deal of flexibility to grow and alter as one’s coverage needs change over time.
When searching for the best universal life insurance quotes, it is important to ensure that you obtain several different options. This will allow you to compare the policy features – as well as the premium quotes – from a number of insurers, and then to decide on which option will provide you with the best scenario for you and your specific needs.
In doing so, it is typically best to work with an agency or company that has access to more than just one insurance company. When you’re ready to begin your search for universal quotes, we can help. We work with many of the top universal carriers in the market place today – and we can provide you with all of the important information and details that you need that can help you with your purchase decision. We can do so directly via your computer – and without the need to meet in person with an agent. When you’re ready to begin the process, just fill out and submit the form on this page.
. Our experts are happy to assist you with answering questions or concerns, or walking you step by step through the universal quote process.
We understand that the purchase of life insurance can be a big decision. That is why we want to ensure that you have all of the pertinent information that you need in order to make the right decision. We will assist you in the following ways:
Choosing the right type of coverage – whether it be term, whole life, or universal protection;
Determining the proper amount of death benefit
Finding the company that will offer you the benefit – and the premium quote – that will suit your needs, and your budget.
The Laborers’ International Union of North America (LIUNA) has suggested that a new assembly bill be introduced in California to bar homebuilders from involvement in the mortgage business.
In their new report, they argue that corporate homebuilders in California systematically pressured homebuyers to finance their new home purchases via directly-owned or affiliated mortgage lenders that pushed exotic, high-risk loan programs.
“Corporate homebuilders profited from the loans and from the artificial inflation of the housing market bubble. Their practices contributed to the current housing and economic crisis and families and communities were devastated when the bubble burst,” the release said.
One example cited in the report found that the mortgage subsidiary of homebuilder DR Horton increased its use of subprime lending in Riverside and San Bernardino Counties from six percent in 2004 to 36 percent by 2006.
Once subprime lending phased out, builders turned to FHA loans for financing; 5.5 percent of the government-backed loans originated by Lennar’s mortgage subsidiary Universal American in 2007-2008 have already defaulted.
That compares to a 2.8 percent default rate seen within the first two years on the FHA loans the company originated in 2005 and 2006.
LIUNA is pushing Assembly Bill 1534, which would prohibit homebuilders from writing mortgages on the homes they build, protect buyers from “pressure tactics,” and provide buyers with more options and the ability to make more responsible choices.
So just to review, the homebuilders created the tremendous oversupply of housing and provided toxic funding to get the overpriced properties off their hands, and pushed for low mortgage rates to shed inventory without reducing prices.
In the competitive world of real estate, effectively and consistently securing listings is the key to success. Whether new to the industry or a seasoned vet, it’s important to keep an open mind and innovate your strategies. By embracing different opportunities, agents can expand their chances of securing more listings and growing their business.
Here are five strategies I consider highly valuable for securing listings.
Set the appointment
To make a strong first impression with potential sellers, avoid overwhelming them with too many questions upfront. Instead, focus on scheduling an appointment. Then, engage in a meaningful discussion about their needs and goals. Be enthusiastic and confident in your ability to help them. This approach establishes a solid foundation for a lasting relationship, minimizing any doubts they may have.
Online tools
In today’s digital landscape, leveraging the right tools is vital to success. A trustworthy Client Relationship Management (CRM) system is an important asset, allowing agents to effectively manage and track interactions with clients. Consider integrating a follow-up bot to ensure no leads slip through the cracks. Additionally, making a compelling weekly email newsletter using platforms like MailChimp keeps you relevant in the eyes of clients.
Personalized communication is a powerful tool. Regularly reach out to clients through phone calls, demonstrating a commitment to their needs and maintaining strong relationships. Embrace social media platforms such as Facebook and Instagram to engage with your audience, share listings and establish your online presence. Staying updated on the newest technologies and industry trends ensures you’re ahead of the competition.
Building your offline reputation
Building an impressive offline reputation is a cornerstone of securing listings. By consistently delivering exceptional service, you build trust and loyalty with clients. Satisfied past clients become valuable advocates, referring you to their family, friends and neighbors when it’s time to sell. Over the years, I’ve built a large network by prioritizing customer satisfaction and nurturing long-term relationships.
Networking
Networking is a powerful strategy for gaining real estate listings. Shift your focus from simply completing transactions to building genuine relationships with clients. This not only strengthens your network but also leads to more business opportunities. Attending networking events, seeking referrals from vendors and engaging with industry professionals and small business networking groups can expand your reach even further.
Teamwork
Joining a brokerage or team can be a game-changer for securing listings. By aligning yourself with a reputable brokerage or team, you gain access to a network of experienced agents who can refer business to you and provide valuable guidance. Collaboration, shared knowledge, access to resources and enhanced credibility are among the benefits of teamwork, helping to get you on your feet and boost your chances of securing listings.
Success lies in embracing the abundance of opportunities, going out and achieving your goals. As agents, our actions define our results, so we must take the initiative to find business opportunities. Join a reputable brokerage, engage in neighborhood prospect calls, host open houses and proactively interact with everyone you meet.
Robert Martin is a certified real estate professional with Huntington & Ellis, a real estate agency with over 17 years of experience. Robert is an expert of the southern Nevada market and specializes in using the newest technology in real estate, cutting edge digital marketing tools and combining those with traditional negotiating practices to deliver an unparalleled client experience.
It’s 2021. A group of Redditors has inflated GameStop’s share price by 2,100% and investors have poured $280 million into BUZZ, an ETF based on social media hype.
Backed by the founder of Barstool Sports, BUZZ is currently outperforming the S&P 500.
What a time to be alive.
The market madness of early 2021 has given everyone from retail investors to the Chairman of the Fed plenty to think about. For investment firm VanEck, it highlighted a golden opportunity to resurrect a wacky idea from the mid-2010s: an ETF based not on rising price, but on hype.
The VanEck Vectors Social Sentiment ETF (BUZZ) is made up of 75 stocks chosen by their “social media sentiment,” i.e. their levels of buzz online. It’s a bit of a wild concept since investors don’t traditionally associate hashtags with a rise in share price. But if the GameStop explosion is any indication, hashtags matter now.
So how does BUZZ work? Why is it controversial? And why are ETFs in general considered a better long-term investment than individual stocks?
Let’s investigate BUZZ.
What’s Ahead:
What makes BUZZ such a unique ETF?
On paper, BUZZ looks like a pretty normal ETF. It consists of a healthy number of stocks (75) including many blue chips like Ford, Tesla, and Twitter. Plus, it has a high bar for entry: all stocks in BUZZ must have a market cap of at least $5 billion, so no volatile newcomers are welcome here.
If BUZZ’s appearance seems normal, it’s the way these stocks were chosen that’s so fascinating.
How ETFs are (typically) built
ETFs have themes that link the underlying securities together. The first ETF, built in 1993, was SPY, and was launched to reflect the overall performance of the S&P 500. An investment in SPY, therefore, is like an investment in the S&P 500 index itself.
Today, there are over 7,600 ETFs bundling commodities like gold or oil, sectors like IT and healthcare, and emerging markets like Africa and India.
While ETF themes can range from the obvious to the creative, all ETF managers follow one basic principle: to build a fund that will increase in value over time. Case in point, you can’t just make up an ETF and get it listed – you have to get it approved by the SEC and sell your underlying logic to investors.
That’s what makes BUZZ so unique and controversial: some investors think it’s based on nothing at all.
How BUZZ was built, and why it’s getting mixed reactions
The Van Eck Vectors Social Sentiment ETF (BUZZ) gets its 75 stocks from an algorithm called the Buzz NextGen AI U.S. Sentiment Leaders Index, which identifies companies getting “bullish social media sentiment.”
In short, it picks stocks based on rising popularity, not price.
Many investors aren’t too keen on BUZZ because they struggle to link social media mentions with share price. Earnings, growth potential, demand… these are factors that should indicate a rise in share price.
But Reddit mentions? Really?
Case in point, BUZZ isn’t the first hype-based ETF. The Sprott Buzz Social Media Insights ETF (BUZ) launched alongside the aforementioned AI index in 2015. But most agree that BUZ was just too ahead of its time. Due to a lack of investor interest, it closed.
Does that mean the naysayers are right? That social media mentions are a terrible predictor of a rise in share price?
Well, if BUZ had stayed open, it would’ve outperformed the S&P 500 in four of the last five calendar years.
BUZZ is not a “meme stock” ETF
Some in the media are quick to label BUZZ a “meme stock ETF” full of stocks that saw skyrocketing share prices thanks to the subreddit r/WallStreetBets. However, the two most notorious meme stocks, GameStop and AMC, are nowhere to be seen on BUZZ.
“This is not a Reddit meme stock ETF” says BUZZ originator Jamie Wise, as quoted in CNBC.
While GameStop and AMC support the logic behind BUZZ, that hype can drive share price, both stocks were way too extreme to be included. Among other reasons, they weren’t mentioned in enough places for a long enough period of time.
BUZZ isn’t trying to predict memes, but rather, find companies that might see a tick in share price due to positive social media sentiment. Hedge funds have been monitoring social media for years, but BUZZ represents the first time this intel is being shared with the people.
If learning about BUZZ has piqued your interest in ETF investing, here’s a quick refresher of the basics, and why, according to the experts, ETFs are often considered a better long-term investment than individual securities.
What is an ETF?
An ETF, or Exchange Traded Fund, is like a bundle of investments that you can buy and sell on an exchange. To illustrate, you can buy shares of BUZZ right now on Webull – for example – just like you’d buy shares of TSLA or GOOGL.
An ETF can include a mix of individual stocks, commodities, bonds, and other securities. And unlike mutual funds, ETFs can be traded all day, so their share prices constantly fluctuate.
ETFs offer a convenient way to invest in a broader concept, commodity, or even an entire sector
Let’s say you want to invest in the clean energy sector. You could go buy, say, 88 individual company stocks. It’ll just take hundreds of hours of research, 88 trades, and fees, and leave you with 88 tickers to track in your portfolio.
Or, you could just invest in a single clean energy ETF. That way, the research is already done for you, you make one trade, and you only have a single ticker to track in your brokerage app of choice.
ETFs have lower expense ratios
Expense ratios are a funds management costs, which are typically taken out of the fund’s assets.
Generally speaking, ETFs are passively managed and have significantly fewer operating expenses than something actively managed like a mutual fund. This means that ETF managers can afford to charge shareholders like you fewer fees (if any).
ETFs are more diverse and stable than individual securities
Because they represent bundles of securities, ETFs are naturally more diverse and stable than individual stocks. If the market is like a big, wide ocean, ETFs are like cargo ships. Sure, they can be a little slow, but they’re resilient to crashing waves and the occasional hurricane.
If you invest in a single stock and it tanks, you’re out of luck. But if you invest in a sector ETF and just one out of 108 stocks tanks, your investment will barely be affected. In fact, you might not even notice as the share price continues to rise with sector performance.
ETFs don’t always go up, of course, but their inherent diversity makes them a superior long-term investment than most individual securities.
Summary
BUZZ’s hype-based indexing logic is certainly avant-garde, but it still follows a traditional ETF philosophy: to provide a diverse, convenient, and stable pathway to long-term growth for investors.
Whether or not this ETF will continue to perform remains to be seen, and only time will tell!