Office real estate investments trusts are trading at their lowest level since 2009 as the trend toward remote work leaves desks empty and economic pressures tighten corporate budgets.
The S&P Composite 1500 Office REITs index is down 27% in 2023, plunging to its worst reading since July 22, 2009. Office landlords comprise just 6% of the REIT sector, which explains why the broader S&P Composite Equity REITs index is down just 5.2% year-to-date and the S&P 500 Real Estate sector has dropped 4.5%. Offices are what’s weighing on the group.
“There’s two ways to lose money: You can own a boat, or you can own an office building,” Piper Sandler analyst Alexander Goldfarb said. “At least with the boat you can take your friends out on a sunset cruise.”
While the stress on the office sector may not be new, the shift to working from home has exacerbated the problem. However, much of the damage could already be priced into the stocks after this latest selloff, analysts said.
In addition, fears about commercial real estate have added to the woes of regional bank stocks that typically fund local projects like strip malls and small office buildings. The sector has been pressured since the collapse of Silicon Valley Bank in March sparked industrywide turmoil. Now some investors fear that its exposure to office weakness could be the next shoe to drop.
However, those worries may be overblown.
“There’s probably going to be some heartburn in the bank space and probably some charge-offs,” said Ben Gerlinger, an analyst at Hovde Group. “But I think a lot of smaller and community regional banks are well-positioned.”
Quality Counts
What’s more, the outlook for office landlords could improve as companies encourage workers to return to their desks and restrict remote work policies.
“We’re starting to see some of that reversal,” RBC Capital Markets analyst Michael Carroll said. “You’re seeing the first steps of people starting to reutilize their office spaces when they weren’t just a few years ago.”
The age and quality of each building will be a key differentiator in which offices succeed over the long term and which don’t. Newer office buildings with modern amenities will likely benefit the most as companies seek out spaces that will entice workers back into the office.
And of course, the financial makeup of each office landlord is key. Industrial and senior housing landlords could prove to be potential bright spots due to their healthy fundamentals and strong cash flow generation, according to Carroll.
Similarly, Piper Sandler’s Goldfarb recently upgraded Douglas Emmett Inc. to overweight because of its small tenant focus and lower cost of leasing. On the opposite end of the spectrum, he slapped an underweight rating on New York-based Vornado Realty Trust due to its struggling balance sheet and development exposure around Manhattan’s Penn Station expansion project.
So identifying winners and losers among office REITs remains a stock-picker’s game. But in the end, the damage may not turn out to be as bad as investors’ angst.
“There are a lot headwinds out there,” Goldfarb said. “But when you really look into it, the fear is much bigger than reality.”
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.
A business degree can open up doors to many different career paths and can give you the skills you need to be successful in the world of business. However, not all business degrees are created equal. There are a variety of different business degrees available, and each one has its own strengths and weaknesses.
A business administration degree gives you a general introduction to the business world and teaches you the basic skills you need to be successful in the workplace. In addition, it provides a foundation for further study in specific areas of business such as accounting or marketing.
The value of a business degree depends on a variety of factors, including what you hope to gain from the degree, your field of study, and your career goals. However, there are some things to consider when making this decision.
According to PayScale, the average ROI for a business degree is about $1 million. This number takes into account both the cost of getting a business degree and the increased earnings potential that graduates typically experience.
While many jobs require at least some level of post-secondary education, not all jobs require or even prefer candidates with a business degree specifically.
In this article, we will highlight everything you need to make a decisive decision for you.
Why a Business Degree?
There are many reasons to get a business degree.
For starters, they offer great flexibility and come with an abundance of valuable career resources. Additionally, business degrees can lead to even more opportunities in the business world.
Finally, it’s important to note that getting a business degree is very profitable and attractive.
Is a business degree worth it?
There is no one-size-fits-all answer to this question.
A business degree can be an excellent investment if you are looking to start or grow a business or are interested in finance, accounting, human resources, or marketing.
Finally, think about the cost of tuition and other associated expenses.
What Can You Do with a Business Management Degree?
Business management degrees can prepare students for a variety of careers in the business world.
Some possible careers include:
Business analyst
Accountant
Human resources manager
Event planner
Marketing manager
Operations manager
Financial analyst
Business owner
A business management degree can open up a variety of doors for you! You can go into many different industries and have a number of career options available to you.
Business management degrees provide opportunities in growing fields like finance and marketing. In addition, business and financial operations occupations are projected to grow on a national level more than other careers.
This means that if you have a business management degree… You will be entering an occupation that is expected to have continued growth in the future.
Types of business degrees
First, consider what type of business degree you want.
There are three options:
Bachelor of Business Administration (BBA): This is a general degree that provides students with a broad knowledge of business. It includes subjects like management, accounting, economics, and marketing. Perfect for those who want managerial positions or start their own company.
Bachelor of Arts in Business Administration (BABA): This degree consists of business subjects along with humanities and social science courses. This type of degree may be a good option if you want to pursue an international career.
Bachelor of Science in Business Administration (BSBA): This type of degree has a strong analytical and math-oriented focus. It’s excellent for careers like financial analysis.
Once you have decided on the type of business degree you want, consider your field of expertise.
Do you want to work in finance? Marketing? Human resources?
Each field requires specific skills and knowledge. So, make sure the degree you choose will provide you with the necessary training. This would be your minor (area of expertise).
Just remember… Each different types of business degree offer students a variety of opportunities. Thus, can help students develop the skills they need for success in the workplace.
Getting A Business Degree
So why should you consider getting a business degree? First and foremost, they offer great flexibility in careers.
Additionally, most programs come with access to a wealth of career resources that can help you land your dream job after graduation.
And finally, having a business degree is highly profitable and attractive in the current job market.
Whether you’re just starting out in your career or looking to advance further, getting a business degree is an excellent choice.
They provide students with valuable skills for entry-level positions that are highly sought after by employers. Plus, an accredited program will likely lead not only to an invigorating educational experience but also to a job that meets your needs and drives your passions
Is Business a Good Major?
There are associate’s degrees, undergraduate degrees, and graduate degrees in business administration available at schools across the country. Which one is right for you? That depends on your goals and what you want to study.
If you’re not sure what you want to study, or if you want to explore your options before making a decision, consider an associate’s degree in business administration first. This type of degree can give you a basic understanding of the field. Then, it can help you decide if you want to continue your education or go into the workforce directly.
If you already know that you want to study business administration at the undergraduate level, then look for a school that offers a broad range of courses in this area. So, you can gain exposure to as many different aspects of the field as possible.
If you’re interested in pursuing a career in business administration but want to take your education one step further, consider a graduate degree in business administration. This type of degree can prepare you for management-level positions and help you stand out from the competition.
Pros of getting a business degree
A business degree can give you many advantages in your career!
Help you advance in your career.
Give you the skills you need to start your own business.
Teach you how to manage a company effectively.
Help you develop marketing and sales skills.
Pursing a business degree may lead to a rewarding educational experience! As well as a career that meets your needs and drives your passions.
In addition, there are plenty of accredited colleges and universities that offer online business degrees. These choices are often convenient and affordable.
Pro #1 – Versatility of a business degree
A business administration degree program can provide a diverse range of career options and prepares students for success in any industry.
Business administration courses are foundational for a variety of careers.
Core coursework in areas such as:
Finance
Accounting
Marketing
Management
These areas of study teach students how to think critically and make sound decisions in a variety of business scenarios.
In addition, many programs offer specializations or concentrations in specific fields such as:
Entrepreneurship
Human resources
Information technology
Thus, allowing students to focus their studies on an area that interests them.
Business graduates are well-prepared to take on a variety of roles within organizations. Plus can usually find jobs with good pay and benefits.
And because the skills learned in business school are applicable in so many different settings, graduates typically have multiple career options available to them if they decide to change jobs or careers down the road.
Pro #2 – Advancement Opportunities
Employers respect and value a business degree from a well-respected school, which can open doors to advancement opportunities.
With a business degree, you can move up the corporate ladder more quickly or start your own successful company.
In addition, a business degree gives an individual the ability to understand the latest changes in the business world and understanding of new strategies, insights, and ideas that can improve a company’s performance.
Business degrees are necessary for individuals who want to stay ahead of the curve in their industry.
If being successful in your field is important, then getting a business degree is essential. Additionally, new opportunities are presented to you.
Pro #3 – Higher Salary
A business degree can lead to a higher salary than an undergraduate degree for the same job.
The impact of your salary depends on a number of factors, including your school, the chosen field, your position, and your past experience.
Many business administration graduates specialize in a discipline, which leads to different salaries for those same careers depending on the discipline.
For example, if you are making a $45k salary a year, then a business degree might help you increase to $60k a year.
Pro #4 – Career resources and networking opportunities
To make the most of a business degree program, consider taking advantage of your school’s unique resources, including career centers and alumni networks.
Then, you are able to use their resources to open the door to a variety of job opportunities.
The career resources will help you find internships and jobs. While the networking opportunities will help you connect with professionals in your field.
Business management degrees can also benefit from extra-curricular activities like clubs and networking events.
Pro #5 – Transferable skills
Business is present in nearly every modern industry. That means degree holders have the option to apply their business degree to just about any area of industry.
Thus, provides skills that are in high demand in the workforce, such as critical thinking, problem-solving, decision making, communication, and leadership skills.
Professionals with a business degree have many options for employment and provide a competitive edge in the job market.
Cons of Getting a Business Degree
A college degree is still the gold standard for obtaining good employment. However, it is no longer the only way to achieve success.
Though there are many benefits to getting a business degree, there are also some potential drawbacks you should consider before making your decision.
Con #1 – Cost of the degree
One such drawback is the cost of tuition and other associated expenses.
The average tuition for an in-state student at a public university is $10,388 per year, and the average tuition for a private university is $38.185 per year (source). That doesn’t include room and board, books, supplies, or other fees. If you’re attending school out-of-state or out of the country, your costs will be even higher.
You can apply for scholarships and grants, take out loans, or work part-time while you’re in school. But no matter how you pay for it, the cost of a business degree is significant.
Con #2 – The job market doesn’t have enough jobs
Getting a business degree isn’t always the best option for career advancement.
There are disadvantages to getting a business degree, such as lower unemployment rates and higher wages compared to other occupations.
Even though a bachelor’s degree in business is required for many jobs in the industry. If you’re interested in pursuing this path, it’s important to make sure you choose a program that will prepare you well.
Con #3 – Certifications are better
Certifications can also help you learn new skills and stay up-to-date on the latest trends in your industry. This comes without the time and money needed for a degree in management.
In fact, both Microsoft and Google have stated that certification for hiring for jobs is more important than a college degree (source).
For example, getting certified in specific areas can help you become an expert in a particular field and make you more marketable to employers.
While both can lead to a variety of career opportunities, you must decipher which is best for your situation.
Con #4 – You don’t need a business degree to work in business
A business degree is not always necessary to work in a corporate setting.
While getting a business degree can help you learn about the inner workings of businesses and how to run them effectively, you can also learn the same skills with hands-on job experience.
In fact, many people who work in business don’t have any formal education in it at all. There are a number of things you can do to gain the skills you need to work in the business without getting a formal degree.
Con #5 – Not Needed to Start Your Own Business
Most importantly, a business degree may not be the best route for you if you want to start your own business.
A business degree won’t give you all the skills and knowledge you need to succeed as a small business owner.
Many times, the best lessons are taught through hard work and perseverance.
Con #6 – Not Truly Prepared for Career Path
Another potential downside to getting a business degree is that not all degrees offer the same level of preparation for specific careers.
So, it’s essential to do your research and choose a program that will give you the skills you need to pursue your desired career path.
Con #7 – Time Consuming
Finally, getting a business degree can be time-consuming and require significant dedication. So make sure you’re ready for the challenge before embarking on this journey!
How to decide if getting a business degree is worth it for you?
There are a few things you should consider when making this decision:
What industry do you want to work in?
What is the job market like for business degrees?
Will you be able to get scholarships or grants?
What are the salaries for business degree holders?
What are the opportunities for advancement for business degree holders?
Will you be able to work while your degree?
What are the costs of getting a business degree?
It is important to remember that business degrees are not just useful for starting a company! They can also lead to lucrative careers in other fields such as finance or law.
So if you’re still undecided on whether or not getting a business degree is worth it for you, consider all of the possibilities!
Tips to Ask Yourself Before Enrolling in Business School
A business degree can be expensive, but it may offer opportunities for career growth and earning potential that outweighs the initial investment. You must weigh the pros and cons carefully before making a final decision
When making the best decision for you, there are many factors to consider, such as time commitment, cost, and potential return on investment.
Tip #1 – Consider your goals and objectives.
What do you hope to gain from a business degree? Are you looking for career advancement opportunities, or do you want to learn more about business fundamentals? Knowing what you want out of a business degree will help you narrow down your options.
Tip #2 – Do your research.
There are many different types of business degrees available. So be sure to compare programs and find one that fits your needs and interests.
In addition, you must consider if an accredited online college or university offers a program that meets your needs.
You need to research the university’s accreditation status so you can know what that means for you when looking for work after graduation.
Finally, think about what you want to do with your degree. Find a program that will give you the skills and experiences needed for your desired career field.
Tip #3 – Ask around.
Talk to friends, family, and colleagues who have pursued a business degree. They may have valuable insights that can help inform your decision.
Do you regret getting a business degree?
Personally, I do regret getting my undergraduate degree in marketing.
I don’t think that was the best field of study for me. Plus my college at the time refused to teach social media marketing, which was brand new and my degree was quickly outdated without the proper skills.
The college experience was absolutely amazing and I grew as a human being. But, I truly believe there was a better degree for me to start out with.
However, if you were looking for a business degree with a focus such as finance, accounting, or computer information, I think those are more highly specialized to off a better benefit.
What Business careers look appealing to You?
A business degree can help you move into a different career field and earn more money.
In addition, a business degree can build a solid foundation of skills and knowledge for you to build your own business. However, there are many other ways to learn about business, so it is important to research the different options and find the best one for you.
There are many different types of business degrees available. As such, it can be difficult to decide which one is right for you.
This decision is not the same for everyone as we all have our own upbringing and experiences. Every single person you ask will tell you something different and whether their business degree was worth it to them.
Business education can be expensive, but there are many resources available to help you finance your education. There are also many benefits to earning a business degree, so weigh all the factors and make the decision that’s best for you.
Know someone else that needs this, too? Then, please share!!
By Peter Anderson1 Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited August 25, 2011.
Over the past few years of personal finance blogging one of the companies that I’ve heard recommended time and again as one of the best places to invest is Vanguard. The reasons why people love them so much include the facts that they have low costs as compared to so many other companies, they offer a diverse set of index funds to choose from, and even some of their actively managed funds are super affordable when compared to the competition.
Another thing that a lot of folks like is that it is relatively easy to buy into mutual funds at Vanguard with low initial mutual fund investments. Most vanguard funds with exceptions of one, the Vanguard STAR® Fund (which had a $1,000 minimum) had initial investments of around $3000. This past week Vanguard announced that they were lowering the initial investments for a wider range of funds to $1000 in order to make investing with Vanguard that much easier. In addition a variety of other funds have had their fund minimum lowered to $3000.
Vanguard Lowers Target Retirement Fund Minimums
Vanguard announced that they were lowering their fund minimums for their Target Retirement Funds last week, as well as reducing and standardizing minimums for other fund types.
To help investors take the first step toward a more financially secure retirement, we’re lowering the minimum initial investment for our popular Target Retirement Fund series from $3,000 to $1,000, effective immediately. Previously, only one of our funds, Vanguard STAR® Fund, had a $1,000 minimum.
“Investing early and investing regularly are two of the most important things investors can do to help ensure their retirement readiness,” said Vanguard CEO Bill McNabb. “By reducing the investment requirements for our target-date funds, we hope to encourage more individuals to participate in the financial markets.”
In addition, Vanguard is standardizing the minimum investment for Investor Shares of nearly all our other funds at $3,000. Previously, fund minimums for the affected funds ranged from $3,000 to $25,000. This change reduces the minimum investment for 15 Vanguard funds, including some of our oldest and largest actively managed funds, such as the Wellington™ Fund, Windsor™ II Fund, and Health Care Fund.
Target Retirement Funds Affected
Here’s a list of the Target Retirement Funds affected by the lowered minimums:
Target Retirement 2010
Target Retirement 2015
Target Retirement 2020
Target Retirement 2025
Target Retirement 2030
Target Retirement 2035
Target Retirement 2040
Target Retirement 2045
Target Retirement 2050
Target Retirement 2055
Vanguard Now Even Friendlier For Newer Investors
Vanguard has been known as a friendly place for newer and experienced investors alike, but I think that this move will most likely be one that ingratiates them even more to the newer investors who previously may not have had the $3000 to start an account. $1000 is that much more accessible to newer investors who just want to test the waters and get started investing – even if they don’t have a ton of money to work with.
As Vanguard mentions in their post – investing early and regularly are two very important pieces of the puzzle – and this move will most likely help a lot more people to get started earlier. I think I’ve mentioned in the past that I wished Vanguard would reduce the minimums on their funds – especially the target retirement funds. Others including Mike at obliviousinvestor.com has also written about how they wished Vanguard would get rid of minimums to make their funds more accessible. Now they have, and I’m sure investors everywhere are happy with the change. I know I am.
What do you think? Are you more likely to invest with Vanguard now that they’ve reduced their minimums for so many of their account types? Do you use Vanguard? Tell us your experience in the comments!
Las Vegas is known for many things, typically its world-famous casinos and that legendary nightlife. There’s a reason they say, “What happens in Vegas stays in Vegas.”
For some people, those features of Las Vegas are exactly what they want. But not everyone loves to play the slot machines, try their luck at roulette, or sip those fancy cocktails. The good news is you don’t have to: There are countless things to do in Las Vegas, and only a small fraction involve drinking and gambling.
Here, learn about the best things to do when visiting Las Vegas because this Nevada town has a lot going on!
Best Times to Go to Las Vegas
The best times to visit Las Vegas can depend on your personal preferences. What do you want to do while you are there? Here are some things to keep in mind:
• Weather: Las Vegas can be very hot if you opt for summer travel. Temperatures can exceed 100 degrees Fahrenheit during that time. So, if you prefer not to be covered in sweat, the best time to visit in terms of weather is usually in the fall (September to November) or spring (March to May), when temperatures are milder. However, if you are planning a visit that involves nothing but casino time, seeing shows, and hitting the pool, you can travel pretty much whenever.
• Events: Las Vegas hosts many events and festivals throughout the year, including the Electric Daisy Carnival music festival in May, the World Series of Poker in the summer, and the National Finals Rodeo in December. If there is a particular event you want to attend, that could influence when you decide to go.
• Crowds: Las Vegas is a popular destination all year, but certain times of year tend to be busier than others. The winter holidays and New Year’s Eve are typically the busiest times, while weekdays in the summer can be quieter.
Generally, the best time to visit Las Vegas depends on what you want to do and see. If you want to avoid crowds and extreme heat, consider visiting in the shoulder seasons of spring and fall. If you want to attend a specific event, plan your trip around that. Also, consider travel insurance to give yourself peace of mind in case you hit any obstacles before or during your trip.
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Bad Times to Go to Las Vegas
Again, the bad times to visit Las Vegas are subjective and depend on your preferences. For most people, though, here are times of the year that might be less enjoyable:
• Summer: As mentioned, temperatures can exceed 100 degrees Fahrenheit in the summer. That could make it an uncomfortable time to visit for many.
• Major holidays: Las Vegas is a popular destination on many major holidays, including New Year’s Eve, Memorial Day, Fourth of July, and Labor Day. During these times, hotels and attractions can be crowded, and prices might be higher than usual.
• Convention weekends: Las Vegas is a popular destination for business conferences and conventions, and hotel rates can be higher during these times. You might also find that the city is more crowded than usual.
As you can see, the worst times to visit Las Vegas also depend on your personal inclinations. If you want to avoid crowds and high prices, it’s best to avoid major holidays and conventions. If you can’t handle the heat, staying away during the summer is best.
Average Cost of a Las Vegas Vacation
The cost of a Las Vegas vacation can vary widely depending on factors such as the time of year, duration of your visit, accommodations, dining and entertainment options, and your budget for spending. It might help if you already have a travel fund, but it depends on how much you will spend. Here is a general breakdown of common expenses for a one-person and couple’s vacation:
One-Person Vacation:
• Accommodations: A mid-range hotel room can cost around $100-$200 per night; luxury hotels in Vegas will of course typically be more, but you may be able to use hacks that will lower that cost and help you save money on hotels.
• Flights: Round-trip flights generally cost around $200-$500, depending on the departure city and time of year.
• Transportation: Taxis, Ubers, and public transportation can add up to around $50-$100 or more. Of course, they might cost you more money depending on how often you use them.
• Food and drink: Meals can cost around $20-$50 per day, depending on where and what you eat, plus drinks and snacks can add another $20-$50 per day.
• Entertainment: Shows, attractions, and activities can range from free to several hundred dollars per person. Tickets to those high-profile residencies can get quite pricey.
Total: A one-person vacation to Las Vegas can cost anywhere from $500 to $2,000 or more, depending on the above factors. Also consider things like traveling with pets, which will increase your costs as hotels typically add a charge and you might have additional transportation costs getting to pet-friendly parks.
Couple’s Vacation:
• Hotels: A mid-range hotel room can cost around $100-$200 per night or more for a luxury hotel.
• Flights: Round-trip flights can cost around $400-$1,000, depending on the departure city and time of year. However, you can save money or get extra perks with an airline credit card or cash back rewards credit card.
• Transportation: Taxis, Ubers, and public transportation can add up to around $100-$200. Again, it depends in part on how much you use them.
• Food and drink: Meals can cost around $40-$100 per day for two people, depending on where and what you eat. Drinks and snacks might add another $40-$100 per day.
• Entertainment: Shows, attractions, and activities can range from free to several hundred dollars per person.
Total: A couple’s vacation to Las Vegas might cost anywhere from $1,000 to $4,000 or more, depending on the above factors. Naturally, how much you can afford will have an effect on your budget.
10 Fun Must-Dos in Las Vegas
Las Vegas is one of the best places in the country for all kinds of entertainment. Whether young or old, you are never more than a few steps away from something interesting. This list of the best things to do in Vegas is culled from top-rated attractions on popular review sites, as well as insider intel from savvy travelers.
The good thing about taking a trip to Las Vegas is that the Strip is generally the focal point. So, if you stay near the Strip, you are sure to find many attractions that are accessible. Just be sure to wear comfortable walking shoes, as traversing the Strip takes more steps than you might realize.
1. Visit the Las Vegas Strip
As the main attraction in Vegas, the Strip has numerous shops, restaurants, and shows. Of course, you can visit the casinos if you prefer, but even the Strip has plenty to do that doesn’t involve gambling. Admire the Bellagio’s fountains and the artwork inside the casino, or visit the Eiffel Tower at Paris Las Vegas. Visit the city’s museums, or enjoy some performances by the city’s various street performers. The Strip offers endless entertainment for all kinds of people. visitlasvegas.com/las-vegas-strip/
2. See a Live Show
Seeing a live show is one of the best things to do in Las Vegas. The city is home to many spectacular shows, including Cirque du Soleil, Blue Man Group, and magic shows. All the best shows are usually on the Strip, so catching a show is convenient, too.
3. Explore Fremont Street
This is the old downtown area of Las Vegas, with vintage casinos, bars, and the famous light show on the overhead canopy. While the Strip is generally the main attraction in Last Vegas these days, many people insist Fremont Street is the “real” Vegas experience. Today, Fremont Street is home to unbeatable experiences like the Viva Vision Light Show, an indoor zip line, and the vintage Golden Nugget casino. vegasexperience.com/
4. Ride the High Roller
Even if you aren’t a high roller in the casinos, you can feel like one in the High Roller observation wheel. This 550-foot-tall Ferris wheel is the world’s tallest observation wheel, offering a stunning view of the Las Vegas skyline. Because the High Roller is so tall, the seats are completely enclosed in glass to keep passengers safe. The High Roller is located in the heart of the Strip, on the property of the LINQ Hotel and Casino. Daytime tickets for a 30-minute ride are typically $8.50 for youth; $23.50 for adults; nighttime is $17.50 for youth, $34.75 for adults. caesars.com/linq/things-to-do/attractions/high-roller
5. Visit the Hoover Dam
Las Vegas has endless things to do, but sometimes, you just need an escape. Located just outside Las Vegas, the Hoover Dam is a marvel of engineering and a great place for a day trip. You can reach the Hoover Dam in about one hour by car from the Strip, so getting there isn’t too time-consuming. It was built between 1931 and 1936 during the Great Depression. It serves several purposes, including controlling flooding of the Colorado River, irrigating over 1,500,000 acres of land, and providing water to 16,000,000 people. Tickets are $10 for a self-guided tour; $30 for a guided tour. usbr.gov/lc/hooverdam/service/
6. Go Shopping
If you’re a shopping fiend, few places are better than Las Vegas. The city is home to many high-end shopping destinations, including the Forum Shops at Caesars Palace and the Fashion Show Mall. There are also indie shops, other malls on the Strip, and outlets. That includes Las Vegas North Premium Outlets, where you’ll find deals on designer brands like Versace, Paige, and Michael Kors. This could also be a great opportunity to earn credit card rewards.
7. Visit the Neon Museum
Be sure to check out The Neon Museum Las Vegas to see a visual representation of Vegas’s history. This outdoor museum is located just north of the Strip and showcases vintage neon signs from Las Vegas’s past. The museum provides guided tours of signs from Vegas, some of which are from famous landmarks from the 1930s to today. General admission is $10 for children, $20 for adults, and tours are available. neonmuseum.org/
8. Play Miniature Golf
Adults and children of all ages can enjoy some amazing mini-golf courses in Las Vegas. The city has several miniature golf courses, including the Twilight Zone by Monster Mini Golf and KISS World featuring KISS Mini Golf. Both courses feature mesmerizing glow-in-the-dark mini-golf. Las Vegas is undoubtedly one of the coolest places to play mini-golf, so be sure to check these out.
9. Go on a Helicopter Tour
Experience the stunning views of Las Vegas and its surrounding areas from above with a thrilling helicopter tour. Several helicopter tour options are available in Las Vegas, ranging from short sightseeing flights to longer tours that take you to nearby attractions like the Grand Canyon or Hoover Dam. Some helicopter tours are as brief as 10 minutes, while some can last several hours. Keep in mind that helicopter tours in Las Vegas can be expensive, ranging from around $100 to several hundred dollars per person. The cost depends on the length of the tour and the attractions included. Book now, pay later travel can help, though these services can have caveats, including incurring high-interest debt.
10. Visit the SkyPod
Visiting the Skypod at the Strat Hotel and Casino is a must-do activity when you’re in Las Vegas. This iconic tower offers stunning views of Las Vegas and an array of thrilling rides, including the SkyJump and Insanity. You can also see the surrounding mountains and desert from the observation deck. The tower stands 1,149 feet tall, making it the tallest freestanding observation tower in the United States. There are several dining options, including the award-winning Top of the World restaurant, which is located on the 106th floor of the tower and offers 360-degree views of the city while you dine. thestrat.com/attractions
Getting Around Town
Las Vegas doesn’t have a wide array of public transit options, but it does have the Las Vegas Monorail that runs along the strip. Unfortunately, the Monorail isn’t exactly cheap, but a 7-day pass might save a bit if you use it multiple times daily. There is also the Las Vegas Loop to transport you between convention halls. Tickets are a reasonable $4.50 per day. Renting a car is always an option as well.
Dining Details
Las Vegas is a great food city. The hotels are packed with amazing options from household-name chefs. You can also stray from the Strip and find local favorites offering affordable tacos, BBQ, and more. Research your favorite kinds of foods, and then let your tastebuds guide you.
The Takeaway
Las Vegas is known for its casinos, but there is much more to Vegas than just gambling. With world-class live performances, incredible dining, fantastic museums, and mesmerizing mini-golf, there is something for everyone in Las Vegas.
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FAQ
How do I get the most out of my Vegas vacation?
You can do many things to get the most out of your Vegas vacation. For example, you can stay on the Strip or at least nearby so you are centrally located and can easily move between destinations. You should also wear comfortable shoes and enjoy free things to do in Las Vegas, like the fountain shows at the Bellagio.
What is Las Vegas best for?
There are many things Las Vegas is great for, including the Strip, Fremont Street, live performances, and museums. Obviously, there are great shows, gambling, and all kinds of delicious dining options, too.
How much money should you take to Vegas?
How much money you should take to Vegas depends in large part on what you plan to do. An individual on a tight budget might be able to skate by on as little as $500 for a week-long stay. But a couple planning a luxury vacation might need as much as $4,000 or perhaps more.
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When you’re a pilot, buying life insurance is a bit complicated.
Many companies will see your occupation and worry that it’s too dangerous for them to cover.
I guess you could say the insurance industry also has a fear of flying.
As you know, flying a plane responsibility is not a dangerous activity. Statistically, you are safer flying your plane than driving a car.
Fortunately, there are so many highly rated insurance companies in the U.S that understand this point. With the right company, not only will your job not be an issue, it might actually work out to your advantage.
Problems for Pilots
In order to buy life insurance, you need to fill out an application describing your current situation. This is so companies can measure your risk as an applicant. Insurance underwriters not only consider your current health but also several other factors. Your job is an important part of this analysis.
Many companies consider flying to be an excessively dangerous activity. This is true for both commercial and private pilots. When you mention you are a pilot, there’s a good chance you’ll get rejected from many companies. Should you get a policy, the policy might charge extra because of your job, the same as if you were in poor health or had a bad habit like smoking.
Another issue is a regular insurance company may exclude aviation from your policy. This means that if you die while flying, your policy won’t pay the death benefit. These rules are unfair and you should not have to put up with this treatment.
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How the Right Company Can Help
When it comes to aviation, not all risks are equal.
What is your level of experience?
How much training do you have?
Do you fly commercially or recreationally?
What types of planes do you fly?
All these factors make a big difference and should be considered for your insurance policy.
An insurance company that specializes in pilot life insurance understands this and will be sure to collect this information. This process ensures that you will get a fair review and will get the coverage and rating you deserve.
In addition to all of the factors listed above, the insurance company is still going to want to know general information about your health and medical history. The better your health is, the more likely you are to get cheaper insurance premiums.
The more experienced the insurance company is with covering pilots, the better your chances of getting affordable rates and getting the coverage your family needs. They understand that flying an airplane is a perfectly safe activity and it isn’t going to cause your monthly premiums to cost a fortune.
Getting life insurance for your family shouldn’t break your bank every month. Your life insurance should be there if you ever need it, but it shouldn’t stretch your finances until then.
Special Insurance Benefits for Pilots
Your being a pilot could actually work out to your advantage. As you know, not everyone can become a pilot, especially a commercial one. It takes a fair amount of training and education to get a license. In addition, you need to be in decent health to fly a plane commercially.
As a result, pilots as a group are healthier and live longer than the general population. Insurance companies that realize this give out discounted policies to pilots.
Another benefit of a good pilot policy is that it will be portable to all jobs. If you get a policy through your work, it might only cover you at that airline. Should you change companies or move to another field, you’ll lose your insurance. With a pilot policy, that won’t happen.
Importance of a Broker
The pilot insurance market is quite large. The best company for your needs depends on many different factors like the type of aircraft you fly and the amount you fly per year. To get the best rate, you need to find a company that matches your situation. However, finding a good match can be very time-consuming.
Working with an insurance broker, like our company, saves you this headache. Our representatives understand the pilot insurance market. They can quickly match you up with the companies that make sense for your situation so you can easily track down the best rate.
Be Sure to Review Your Coverage
If you already have life insurance, congratulations! You’ve taken a big step towards protecting your loved ones. It would still be a good idea to contact our services for a policy review though, especially if it’s been a few years since you bought your policy.
Has your life changed over the past few years? For example, have you had more children or bought another house? Through our free review process, we’ll make sure that your coverage keeps up with your ever-changing life. Not having enough life insurance can be as detrimental as not having a policy at all.
It could leave your family with more debt than they have the resources to pay off, which can put a serious financial strain on your loved ones after you passed away. There are dozens of different factors that could impact your life insurance needs. We can make sure that your plan is up to par. We’ll also make sure that your current policy doesn’t have any of the problems or exclusions because of your status as a pilot.
Regardless if you fly for your job or you fly for fun, you can get affordable life insurance. Your job or hobbies should never keep you from getting quality life insurance protection. A lot of pilots assume they will never be able to buy a life insurance policy they can actually afford, but that’s not true.
Being a pilot is only a problem for life insurance if you don’t plan properly. Make sure you are prepared to get the best possible coverage.
There are several loan options available that can help you finance your home renovation project.
A home equity loan is a type of loan that allows you to borrow money by using your home as collateral.
Home Renovation Loan is offered to customers seeking finance for upgrading, refurbishing or repairing their house property. Most banks, non-banking financial companies (NBFCs) and housing financial companies (HFCs) offer this facility either through their regular home loan product or as a separate offering within the broader category of home loans.
Both existing home loan borrowers as well as new customers can avail home renovation loans. There are several loan options available that can help you finance your home renovation project. Here are five loans available for home renovation:
-Home Equity Loan: A home equity loan is a type of loan that allows you to borrow money by using your home as collateral. It provides a lump sum of money that you can use for your home renovation project. The interest rates for home equity loans are generally lower when compared to other types of loans, and the loan term can range from 5 to 15 years. However, you need to have equity in your home to qualify for this loan.
-Home Equity Line of Credit (HELOC): A HELOC is a popular choice for homeowners looking to finance their renovation projects. It allows you to borrow against the equity in your home, which is the difference between your home’s market value and the amount you still owe on your mortgage. With a HELOC, you can access funds as needed and only pay interest on the amount you borrow. This flexible loan option offers competitive interest rates and can be a cost-effective way to finance your renovation. The interest rates for HELOCs are generally variable, and the loan term can range from 5 to 25 years.
-Personal Loan: If you don’t have significant equity in your home or prefer not to use it as collateral, a personal loan can be a suitable option for home renovation financing. Personal loans are unsecured loans, meaning they don’t require security. These loans typically have higher interest rates compared to home equity loans but offer a quick application process and flexibility in terms of loan amount and repayment period. The loan term can range from 1 to 7 years.
-FHA 203(k) Loan: If you’re purchasing a home that requires renovation or planning extensive renovations on your current home, an FHA 203(k) Rehabilitation Loan can be an excellent choice. The repayment tenure of the loan ranges from 15 to 30 years. However, you need to meet certain eligibility requirements to qualify for this loan. FHA 203(k) loans are government backed and often have more lenient requirements, making them accessible to a broader range of borrowers.
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-Construction Loan: If your renovation project involves significant structural changes or additions, a construction loan might be the right fit. It is a short-term loan that is used to finance the construction of a home or other real estate project. With a construction loan, you can access funds in stages as the project progresses, and once the construction is complete, the loan can be converted into a traditional mortgage or paid off in full. This loan has higher interest rate than a conventional mortgage loan, so think twice when making choices.
When considering any bank loan for home renovation, it’s crucial to carefully assess your financial situation, project requirements, and the terms and conditions of each loan option. Remember to borrow responsibly and ensure that your renovation plans align with your budget and long-term financial goals.
About the Author
Namit Singh Sengar
Namit is Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands and economy.…Read More
For those looking to build their dream home, purchasing land is usually the first big step.
While building a house is far from easy, there are ways for first-time homeowners to make their dreams achievable. Land loans are a great resource, often used in conjunction with a traditional loan. Anyone choosing to build a house is likely to at least consider applying for a land loan.
A land or lot loan is a great financing option for those who have always dreamed of buying land and building their own home.
11 Best Banks for Land Loans
Because land loans typically carry higher interest rates than traditional mortgage loans, it pays to carefully consider the pros and cons of several lenders.
Below we’ve compiled a detailed list of the banks and credit unions offering the best land loans available today. Whatever lender you choose, be sure to check beforehand that they are fully licensed to provide mortgage loans.
The Nationwide Mortgage Licensing System (NMLS) is a centralized database of licensed lenders which you can use as a reference.
1. Atlantic Union Bank
Atlantic Union Bank offers land loans for both residential lots and undeveloped land. The bank is based in Virginia.
There are also separate construction loans available for those interested in financing the construction of a residence. Bear in mind that while Atlantic Union has a strong reputation as lenders, having been in business since 1902, they don’t have services like loan calculators, interest rate guidelines, or down payment information on their website.
For more information on a land loan with Atlantic, you’ll need to call them or visit a local branch to speak about a land loan.
2. Old National Bank
Old National Bank is headquartered in Indiana, and has been in operation since 1834. They offer lending products and services to residents of Indiana, Minnesota, Wisconsin, Michigan, and Kentucky. Old National has two different types of financing for land on offer, depending on the size of the property you’re interested in:
Lot Loans are designed to finance land purchases of no more than 5 acres, requiring a 20% down payment.
Land Loans are for larger property, designed to finance land purchases between 5 and 25 acres. These loans come with a minimum down payment of 35%.
Both land and lot loans with Old National will carry various interest rates and repayment terms. You can get either of these loan types for both improved and unimproved land, and there is no obligation to immediately begin building once a loan is secured.
Old National Bank also has around 250 brick-and-mortar locations since merging with First Midwest Bank. If visiting a local branch to speak with a loan officer is your preference, you shouldn’t have to travel too far.
On the other hand, you also have the option of using Old National’s online loan calculator and online loan application service, if visiting a local branch isn’t convenient.
3. Mountain America Credit Union
Mountain America Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA) and headquartered in Sandy, Utah. They locations across Arizona, Idaho, Utah, Montana, Nevada, and New Mexico.
Mountain America’s lot loans are available with 85% financing on approved credit, fully amortizing fixed-rate and balloon options, and an easy online application process. The loans are designed to be easily converted to a construction loan, ensuring that you can move forward with your home building plans when you’re ready.
4. WaFd Bank
WaFd, or Washington Federal, offers bank loans for improved land up to the value of $700,000, without any immediate obligations to build.
You can use their online loan calculator to receive an estimate of the interest rates you can expect for a land loan. These estimates are based on your credit score, development plans and the specifications of your desired property.
The minimum down payments and interest rates will vary depending on your ideal loan term, as well as all the other details of your application.
You can apply directly for loans through their online portal, as well as in person at a bank branch. Land loans are available from WaFd Bank only in the following states: Washington, Idaho, Nevada, New Mexico, Oregon, Texas and Utah.
5. Banner Bank
Banner Bank is active in the states of Idaho, Washington, Oregon, and California. They offer financing for purchasing both improved and unimproved land. Banner allows customers to borrow up to 75% of a property’s purchase price, and they also claim to bring competitive interest rates and fees.
All loans with Banner Bank are approved in-house, which means a streamlined credit score check and loan approval process.
If you do apply for a loan with Banner Bank, you also have the option of locking in a fixed interest rate or a flexible rate. Banner also offers financing for construction and personal loans.
6. California Bank & Trust
Customers with California Bank and Trust can potentially avail of both a land loan and a construction loan in one. The bank offers financing for up to 60% of the lot purchase value, along with several loan options.
The option to choose either a single or dual-purpose loan, which can cover both land purchase and construction of a home, makes California Bank & Trust an attractive lender. This is a great option for those looking to save both time and money.
You can apply for a loan online, over the phone, or in person at a local branch.
7. Randolph-Brooks Federal Credit Union
Randolph-Brooks Federal Credit Union is not your typical financial institution. As a financial cooperative, its sole mission is to help members save time, save money, and earn money. Over the years, the credit union has expanded its reach to over 1 million members in Texas and beyond, with a strong presence in Austin, Corpus Christi, Dallas-Fort Worth, and San Antonio.
With over 60 branches dedicated to serving members and the community, RBFCU offers a range of land loan benefits and features, including term options up to 15 years, free 60-day rate lock, and up to 90% financing.
And the best part? There are no building requirements from the lender, so you can have the freedom to build your dream home the way you want. Set up automatic payments and let RBFCU help you make your land ownership dreams a reality.
8. Citizens Bank & Trust
Citizens Bank & Trust is a North Alabama-based institution that’s committed to providing a hassle-free lending experience. What’s more, you can roll your loan into a permanent one, saving you on closing costs.
With local decision-making and processing, you’ll get the personalized attention you deserve, while a streamlined application process ensures you get your funds when you need them. You can experience a stress-free borrowing experience when you choose Citizens Bank & Trust for your land loan needs.
9. Alpine Bank
Alpine Bank is active in Colorado, offering financial services including land loans. Specifically, they offer loans for both lot and new constructions, with a maximum loan to value amount of 75% for land classified as improved.
Alpine Bank doesn’t offer lending details on their website. You can use their website to connect with lending experts in your county. You can also reach out for more loan information online, over the phone, or in person at one of their local bank branches.
10. First Bank & Trust
If you’re looking to buy land or a lot and build your dream home, First Bank and Trust Company can help. Headquartered in southwest Virginia, with additional locations in Tennessee, North Carolina, and Virginia, the bank is committed to helping you realize your homeownership goals.
With a range of lot and land loans, you can choose the financing option that’s right for you, while enjoying competitive rates and flexible terms. Whether you’re looking to build your dream home or invest in a piece of land, First Bank and Trust Company has the financing options you need to make it happen.
11. First Hawaiian Bank
First Hawaiian Bank offers land loan options designed for those who are ready to buy land but not quite ready to build. With 2- and 3-year terms available and no prepayment penalty, you can secure the land you want without worrying about costly fees. And with interim financing available to purchase a vacant lot at residential pricing, you can lock down the land you need to bring your vision to life.
Best of all, your FHB land loan can be refinanced into a construction-to-permanent loan with reduced fees, making it easier than ever to get the financing you need to build your dream home.
What are land loans?
Land loans are loan products designed to help individuals and businesses purchase land for development. A bank, credit union, or online lender can offer specific loans for those interested in buying land. Land loans are also known as ‘lot loans’.
Similar to a mortgage loan, land loans provide individuals and small businesses the opportunity to finance the purchase of land for many purposes, such as investment, agriculture, recreation, or development.
However, because these types of loan are considered riskier for lenders, they typically come with a higher interest rate compared to a mortgage loan. In addition, the conditions of the loan will depend on the type of land being purchased, as well as what the land will be used for.
Let’s take a closer look at the types of land that a land loan can help finance.
Types of Land Classification
Your chances of obtaining financing for land will depend partly on the type of land you want to purchase. In general, lenders who offer land loans will view developed land as less of a risk than undeveloped land.
When it comes to land loans, there are three primary types of land considered for financing.
Raw Land
‘Raw land’ is the first classification and refers to completely undeveloped, rural land. Think no buildings, electricity or drainage system. This is the most difficult land to obtain financing for because land loan lenders view it as the greatest risk of abandonment.
As a result, if you plan to apply for a land loan for raw land, you’ll need to demonstrate that you’ve got a detailed plan for development. Showing lenders that you’re competent and dedicated to the project will help you navigate the lending market.
Although the purchase price of raw land is often cheaper than land that is developed, a raw land loan will come with higher rates. You may also be required to put up a more substantial down payment.
Unimproved Land
‘Unimproved land’ is a step up from raw land, and covers a broad variety of possibilities. Unimproved land will often be land that was once developed, or has seen failed attempts at development in the past. In some cases unimproved land will have some limited access to utilities and amenities, but will need significant repair and refurbishing.
An unimproved land loan can also be difficult to get, even though it poses less risk compared to raw land. Again, having a detailed plan and being aware of the challenges at hand will be a huge help when negotiating with lenders. A large down payment and a strong credit score will also be helpful.
While lenders tend to view unimproved land loans as less risky than raw land, it is still common for rates to be a fair bit higher compared to traditional mortgage rates, for example.
Improved Land Loan
‘Improved land’ typically has decent or good access to utilities, roads and water. Because improved land is the most developed land type, it almost always comes with a higher price tag. On the other hand, this means that interest rates will be significantly lower compared to raw or unimproved land loans. You’ll also find more affordable down payments for developed lots.
For most aspiring homeowners, purchasing land that is already developed with access to basic amenities is the ideal. This allows them to immediately get to work building a house, whereas having to develop land first could add at least another year to their construction project.
How to Apply for a Land Loan
If you want to buy land and build your dream home, you’ll probably want to apply for a land loan. Land loan applying isn’t complex, and land loans work the same as many other types of loan. Here are the steps involved:
Find a Plot
You should start by first identifying the plot of land you want to buy. It helps to have a few options chosen in advance. For example, in the event that you can’t afford to find a good lending option for your first choice, you can quickly move on to an alternative instead.
Draw up a Development Plan
The next step is to make a development plan for each plot that you have on your shortlist. You may need or want to hire professional help to create a solid plan. Try to include as much detail as possible, without overextending yourself or wasting too much time and money.
When it comes to development and construction plans, both an estimated timeframe and overall cost range are the most important details. A good plan will help you negotiate the best rates with a lender.
Find a Lender
Once your development plan is ready, it’s time to seek potential lenders. Depending on the type of development you’re proposing, as well as the type of land you want to buy, it may take some time to find willing lenders.
Be prepared to also take some time to consider more than one loan offer. Ideally, you can compare multiple lenders, and use a pre-approved quote from at least one lender to negotiate against others.
Complete the Application Process
Once you’ve chosen a lender and been approved for your loan, you’ll be guided through the lender’s application process. The majority of lenders will require information such as your development plan, a credit check, and personal information.
You might also need to provide details on things like zoning considerations, utilities access and land use restrictions, where relevant.
Alternative Land Financing Options
In addition to seeking a land or construction loan, there are several other types of loans and financing options available.
USDA Loans
If you’re looking to own land and build a home in a rural area, you may be eligible for a USDA loan. The U.S. Department of Agriculture offers loans that may assist low and moderate income families in finding a new home. USDA Section 523 loans are for wanting to purchase land to develop, and Section 524 loans are for financing new constructions by contractors.
While it isn’t easy to qualify for a USDA loan, the benefit is they require no down payment and the interest rates are low. USDA loans must be settled within two years, however, so there are no long term options.
FHA Loans
Another government-funded product, FHA loans are tailored towards those wanting to buy land and quickly build a home. The Federal Housing Administration insures these loans, protecting FHA-approved lenders from risk.
FHA loans are not available for land purchase alone, but for those intending to build a home on as well as land. FHA loans are sometimes granted in conjunction with construction loans, too. If you’re eligible for one of these loans, you’ll likely have a lower minimum down payment, but potentially higher interest rates.
Home Equity Loans
Home equity loans may be an appealing alternative to land loans for some homeowners. If you already own a property and have good credit standing, this kind of loan might be a good fit. A home equity loan acts as a second mortgage, and will essentially convert your equity into collateral for a new loan to fund your purchase.
Cash-Out Refinancing
Cash-out refinancing involves homeowners refinancing their homes to increase equity. This type of refinancing is essentially paying off your current mortgage to secure another mortgage, but with a lower interest rate and easier monthly payments.
Once the remortgaging is made official, your bank or financial institution will issue you a check based on the equity in your property. You can then use this payment to fund your land purchase.
SBA Loans
The Small Business Administration (SBA) offers loans to small business owners from the 504 loan program.
These loans are best suited to the purchase of real estate for business reasons, so they are not ideal for regular homeowners. However, if you’re looking for land to purchase to grow your business, you might want to consider an SBA loan.
Generally, the Small Business Administration will cover 40% of the purchase value, with 10% from the borrower and another lender of choice providing the other half of the loan. The terms and rates on SBA loans vary depending on the lender you choose to fund 50% of the land purchase.
Seller Financing
If you’re lucky, you may be able to obtain financing directly from the landowner you want to buy from. Also known as land contracts, these types of loans involve the buyer essentially taking out a loan directly from the seller, often with a substantial down payment.
Seller financing also tends to come with less than competitive interest rates. For those who struggle to qualify for a traditional mortgage or financing, seller financing can often be a great, but more costly, alternative.
Frequently Asked Questions
What is the best loan for buying land?
The best loan option for buying land depends on your circumstances. While improved land loans may seem ideal, the reality is there are multiple loan options to choose from.
Your credit score, debt-to-income ratio, and the condition of the land you wish to purchase are all factors that can influence which type of financing will suit you best.
Is it difficult to get a loan for land?
It’s true that obtaining loan financing for the purchase of land isn’t as easy as getting a regular personal loan. However, there are lenders out there with experience financing land purchases. As with any loan, the bottom line will be your credit score, as well as the size of your down payment. The nature of the land in question is also a primary factor.
If you can’t qualify for traditional financing options, there are alternatives such as USDA loans, FHA loans and more to consider.
Tax law is complicated. There’s no doubt about it. But oddly enough, a lot of the tax mistakes people make are for shockingly simple things that could easily be avoided. (Some examples include missing the tax deadline, failing to report all your income, and not taking the right tax breaks, just to name a few).
Understanding these mistakes can help you avoid them in the future, since none of us really want to deal with the IRS more than we have to.
What’s Ahead:
1. Not paying required estimated taxes
If you’re a freelancer, small business owner, side hustler, or anyone else earning income where taxes aren’t withheld, you’re required to make quarterly estimated tax payments to the Internal Revenue Service (IRS).
Not paying required estimated taxes or paying them late has two major outcomes:
Your tax bill will be a lot larger than anticipated.
You’ll pay penalties and interest charges on your unpaid tax liability.
Either way you dice it, it’s not good. Work those quarterly payments into your schedule so you can breeze into tax season knowing you won’t be in trouble with Uncle Sam.
Read more: 7 Side Hustle Accounting Mistakes To Avoid
Who has to pay quarterly estimated taxes?
Generally speaking, if you owe $1,000 or more in federal taxes for the year, then you’ll need to pay quarterly estimated tax payments. This could include any income earned through:
Self-employment
Interest
Dividends
Alimony
Capital gains
Prizes and awards
Read more: Quarterly Estimated Tax Payments: Who Needs to Pay Them, When, and Why
2. Failing to keep necessary tax records
No matter how simple or complex your tax situation is, you’re going to need to collect receipts, income statements, and other things throughout the year to make sure you have everything you need to file your return.
So, what documents do tax preparers need to keep? In general, you should hang onto:
Income statements such as W2s and 1099s.
Bank statements.
Any tax forms you receive electronically or by snail mail.
Receipts for purchases and charitable donations you plan on writing off.
Copies of your signed return and all supporting documents, so you have proof if you’re audited or need to file an amended return.
If this sounds like a lot, don’t panic. You can use our tax document checklist to keep it all organized.
3. Failing to report all of your income
The IRS knows how much money you make each year — and they also know when you fail to report it all. (They’re kind of like that parent who knows their kid broke their favorite vase but they ask them about it anyway just to give them a chance to come clean and tell the truth).
If you accidentally or purposefully leave something off your return, the IRS will know about it, and there will be consequences to pay. It could be as simple as paying a penalty fee or as extreme as being audited or facing tax fraud charges. Either way, it’s best to avoid it all together.
The easiest way to make sure you’re reporting all your income for the year is to hang onto all your W2s and 1099s. This will help you make sure nothing falls through the cracks when you sit down to prepare your return.
MU30 Tip: If you file your taxes and later realize you forgot to report something, file an amended return as soon as you can to fix it. Learn how in our piece – Tax Return Error? Here’s How To Amend Your Return.
4. Not using accounts that have tax advantages
One of the easiest ways to lower your tax bill is by maxing out any tax-advantaged accounts you have at your disposal. This includes:
Employer-sponsored retirement accounts, such as a 401(k), 403(b), 457 plan, or a federal Thrift Savings Plan (TSP).
Traditional IRAs.
Health savings accounts (HSAs), which you qualify for if you have a high deductible healthcare plan (HDHP).
So, why should use tax-advantaged accounts to lower your taxes? Here’s a scenario to show you why. (It involves some math, so put your nerdy glasses on with me for a second).
A real-life example of why you should use tax-advantaged accounts
Meet Cleo. She’s a single, 28-year-old financial analyst who made $80,000 in 2022. Cleo’s big into saving, so she maxed out her company’s 401(k) ($20,500), her traditional IRA ($6,000), and her HSA ($3,650). This brings her taxable income down to $50,900.
Based on current marginal tax rates, her federal tax liability comes out to $3,650 for the year. Without the tax-advantaged accounts, Cleo would’ve been on the hook for $10,368 — A LOT more money.
Note that this is a simplified scenario that uses the standard deduction but doesn’t take into account other credits or expenses.
5. Filing with incorrect information
Another common tax mistake is filing a return that’s incomplete or inaccurate. This can result in delays in getting your refund, as well as additional penalties and interest charges from the IRS.
To avoid this, be sure to:
Double-check your bank account and routing numbers if you’re getting a tax refund via direct deposit.
Review your name, Social Security number, address, and other personal information.
Make sure your filing status is correct.
Confirm that your income matches the W2s and other income statements you have on hand.
Review your deductions and credits to see if they make sense for your situation.
6. Filing under the wrong status
Your filing status can have a huge impact on how much you owe in taxes for the year. It can also determine if you even need to file a return in the first place.
So, what happens if you file under the wrong tax status?
The most common downside is that it could result in a larger tax bill than necessary. And if the IRS suspects you were intentionally deceptive, you could be audited or hit with a tax fraud penalty.
What are your tax status filing options?
Tax filers have five filing statuses to choose from:
Single – Applies to anyone who isn’t married, including those who are divorced or legally separated.
Married filing jointly – Applies to anyone who’s married and wants to file taxes together.
Married filing separately – Applies to married couples who want to file taxes separately. This could be advantageous if you only want to be responsible for your own taxes. Or, if filing under this status will save you more money.
Head of household – Mostly for those who are single, but it can also be used if you pay for more than 50% of the costs for you and a qualifying person.
Qualifying widow(er) with dependent child – For anyone whose spouse has recently died and has at least one child dependent. Special rules apply, though.
If you’re stuck between two filing statuses, the IRS recommends preparing your return both ways to see which saves you the most money.
Read more: How To Know When You Should File Your Taxes Jointly or Separately
7. Not taking the right tax breaks
There are HUNDREDS of tax deductions and credits out there. Some are quite common — like the earned income tax credit, child tax credit, and property tax deduction.
Others are super obscure — like how you can write off student loan interest paid by your parents. Or, how you can write off taxes paid to the Social Security Administration if you’re self-employed.
Read more: Tax Benefits For College Students: How To Pay Less And Get More Back
One of the best ways to reduce your taxes is to take advantage of every tax break you qualify for. The good news is, if you file your taxes online, the tax software you use will automatically maximize these deductions and credits for you.
Check out a few of our recommended tax software options here: Best Tax Software Compared
8. Missing the tax deadline
The tax filing deadline is April 15 (almost) every year (or October 15 if you file an extension). But in 2023, it’s April 18 due to a state holiday. One of the most common tax mistakes people make is missing this deadline.
So, what happens if you miss a tax deadline?
If you’re set to receive a refund: the short answer is nothing. You can file your tax return at any time and get your money. You won’t pay any penalties or fees.
If you owe the IRS money: you’ll pay a penalty for filing a late return and for not paying your taxes on time. This penalty gets larger the longer you wait, so file your return ASAP if you can.
The IRS’ Failure to File Penalty is 5% each month for any unpaid taxes owed. This fee maxes out after five months for a total of 25%. There’s also a Failure to Pay Penalty that keeps accruing each month even after the Failure To File Penalty stops. It can all add up in a hurry.
MU30 Tip: A tax extension gives you more time to file your return, but it does not give you more time to pay any taxes you owe. So, if you have a bill this tax year, set up a payment plan by the deadline even if you haven’t filed a return yet.
9. Filing your tax return too early
If you’re anything like me, you may be in a hurry to file your taxes as soon as possible each year. Especially if you’re set to get a refund.
Side story: I remember so many times in college when I treated the first day of tax season like my birthday or Christmas. I’d wake up and file my return as quickly as I could because I was so excited to see what my return would be. Weird, I know.
But here’s the catch — another easy tax mistake people make is filing their return too soon. Sounds odd, right?
When you file your return too soon, you run the risk of not having all the proper tax documents you need to file a complete and accurate return. You could also miss out on valuable deductions and credits and that could maximize your refund even more.
What you should do if you make a mistake on your tax return
Okay, so what happens if you file your return and then realize, “Crap! I’ve made a mistake!”? Calm down and take a deep breath. We’re gonna get through this.
In most cases, all you need to do is file Form 1040X, which is an amended tax return, to correct any mistakes you made.
You can typically amend your return using the same tax software or company you used to file it the first time. Or, you can download this form from the IRS and fill it out by hand (although this is a lot more tedious).
Summary
These are just a few of the most common tax mistakes people make each year. The IRS doesn’t always make things easy for us, so there are some things that are just honest mistakes.
One easy way to minimize these mistakes is to file electronically using tax software or a tax professional.
When flying to Europe, you may be considering flights on Lufthansa or Air France. Both international airlines are well-respected in the industry and offer unique experiences for passengers.
From a complimentary glass of champagne on Air France long-haul flights to Lufthansa’s first-class lounge rubber ducks, each airline offers special amenities. If you see flight options for both airlines, you may be wondering if you should choose Lufthansa versus Air France.
In this article, we’ll compare Lufthansa versus Air France based on:
Available destinations.
Co-branded credit cards.
Loyalty programs.
In-flight experience.
We compiled this information to help you decide which one, Lufthansa or Air France, is best for you.
Where they’re based and where they fly
Winner: Air France
When picking an airline, it’s important that it travels to a wide variety of destinations so you can use them over and over again. Flying the same airline repeatedly allows you to earn frequent flyer miles for future flights and credits toward elite status. Air France is the winner with more destinations and flights aboard its own planes.
Lufthansa
The airline offers more than 205 destinations worldwide with 5,200 weekly flights scheduled for summer 2023. Its primary hubs are Frankfurt and Munich, but it flies all over the world with its partners as a founding member of Star Alliance.
Air France
Air France operates 1,500 daily flights to 312 destinations in 116 countries. It is a SkyTeam member, which enables customers to book flights with its partners to fly to destinations worldwide. The airline’s primary hubs are in Paris and Amsterdam.
Travel credit card availability
Winner: Air France
Having an airline’s credit card enables travelers to earn extra miles and receive additional perks when flying on the airline.
When it comes to Air France versus Lufthansa, Air France has the more appealing travel credit card options with higher earning power and better cardholder perks.
Plus, it is a transfer partner of the multiple flexible points programs. This allows you to earn miles multiple ways, even if you don’t have the airline’s co-branded card.
Lufthansa
The Lufthansa Miles & More® World Elite Mastercard® earns 2x miles per dollar on Lufthansa purchases and 1x miles on everything else, and cardholders can convert up to 25,000 miles into elite status miles at a 5:1 ratio.
For its $59 annual fee, it also includes two complimentary Lufthansa business class lounge vouchers and a companion ticket each year.
And don’t forget the welcome bonus:
Earn 60,000 award miles if you spend $3,000 in purchases and pay the annual fee, both within the first 90 days.
The downside is Lufthansa does not partner with any flexible points programs to convert points into its miles.
Air France
Air France KLM World Elite Mastercard® cardholders receive 3x miles on Air France purchases and 1.5x miles everywhere else. In exchange for the card’s $89 annual fee, you’ll receive 5,000 miles on your card anniversary as long as you spend at least $50 each year.
It, too, has a welcome bonus:
Get 50,000 Bonus Miles after you make $2,000 or more in purchases within the first 90 days of account opening.
Plus, you’ll receive 60 XP toward elite status upon approval of your card application. Members can transfer points to Air France KLM Flying Blue from a number of programs, including:
Airline loyalty programs
Winner: Air France-KLM Flying Blue
Travelers earn miles for future flights based on their paid tickets, credit card usage and other activities with partners.
Additionally, they can achieve elite status by hitting certain milestones within the program. Ideally, a loyalty program is simple and straightforward to encourage members to earn and redeem miles on a regular basis.
Lufthansa is in the process of simplifying its loyalty program, and the changes won’t be implemented until January 2024. Air France currently has a better program that rewards travelers for their loyalty and makes it easy to redeem miles.
Lufthansa
Lufthansa is in the process of launching a new loyalty program that was announced in 2019.
The new program is scheduled for release in January 2024 offering a transparent point system and the ability to earn lifetime elite status. Changes are intended to eliminate complicated program components to make it easier for travelers to earn and redeem rewards in the future.
Additionally, members will automatically receive additional benefits as they reach milestones based on their annual flights.
Air France
Flying Blue is the combined loyalty program for Air France and KLM. The loyalty program makes it easy to redeem miles to book award tickets and offers a “miles & cash” option where you can pay up to 25% of your ticket with cash.
Flying Blue also offers monthly promo award flights where you can save up to 50% off award flights. There are four levels of elite status travelers can achieve based on their flights, credit card use and partner activities.
Winner: Air France
Airlines often charge fees when booking a flight with an agent, for checking luggage and other aspects of traveling.
When selecting an airline, you want one that does not charge a lot of extra fees that can increase the cost of your flight. Air France is our choice for fewer fees since it waives fees for telephone booking and online changes or refunds.
Lufthansa
Like many airlines, Lufthansa charges fees for many services when interacting with employees or making changes to flights. In some cases, rebooking or refunds are not allowed on lower-level tickets.
If you need to cancel or change your flight, you may have fees ranging from $250 to $1,000 per passenger plus any difference in fare. On the plus side, all passengers get at least one checked bag for free, even economy class tickets.
Air France
Air France waives many fees for booking, making changes or canceling flights when they’re made online or at airport kiosks. However, fees may apply on the day of departure or over the phone.
Most passengers get at least one checked bag for free. However, economy passengers may be charged on some flights. Travelers can save 20% on excess baggage fees by purchasing allowances online ahead of their flights.
In-flight experience
Winner: Tie
Both airlines offer premier travel experiences on the ground and in the air. Whether you’re flying Economy or upgrading to first class, you can’t go wrong when choosing between Lufthansa versus Air France.
Lufthansa
Economy class passengers receive complimentary meals, drinks and on-board entertainment with seats measuring over 16 inches wide (40 cm).
First class travelers enjoy access to personal assistants, first class lounges and limousine service from the lounge to the plane. Onboard, you’ll dine on culinary delights and fine wines from lie-flat seats that adjust to your comfort level.
The airline is launching an overhaul of its in-flight service known as Lufthansa Allegra. This redesign reimagines the in-flight experience from scratch with maximum privacy in mind.
Air France
Air France offers four levels of seats, ranging from economy to La Premiere First Class. Economy class seats differ slightly based on which region you’re traveling to, but all economy passengers have access to onboard entertainment and Wi-Fi.
In select cities, first class passengers traveling in La Premiere receive complimentary premium driver service to the airport, a private check-in lounge and a chauffeured ride to the aircraft.
Onboard, you’ll enjoy personalized staff service plus culinary meals in your private suite offering hotel-standard comfort.
Is Lufthansa better than Air France?
In the competition of Lufthansa versus Air France, there’s a clear winner: Air France.
While both airlines are part of alliances, Air France flies to more destinations with more daily flights. Each airline has its own credit card, but the Air France KLM World Elite Mastercard® has higher earning power and only Air France partners with other cards for points transfers.
Lufthansa is in the process of streamlining its loyalty program, which illustrates how convoluted its current program is. Both airlines have high-end experiences at the airport and in-flight experiences, but Air France also has lower fees in common situations.
Overall, these two international airlines offer very different pros and cons. Air France is our choice between Lufthansa versus Air France. However, the best one for you depends on where you live, where you want to fly and your travel preferences.
(Top photo courtesy of Air France)
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
By Peter Anderson8 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited May 29, 2023.
Memorial Day is here! It’s become synonymous with being a day to enjoy family, friends and even a having a BBQ, but let’s not forget to take a moment today to remember all our fighting men and women over the years who have made the ultimate sacrifice, by giving their lives so that the rest of us might live free.
Over the years on Memorial Day I’ve had a chance to stop at my grandparent’s graves at Fort Snelling National Cemetery in Bloomington, MN.
While I won’t make it there this year, it is always a vivid reminder of just how much so many have given. There is row after row of graves for our military men and women, so many of them having died while fighting for our nation.
A couple of times while I was there I found the graves of Medal of Honor winners there, and it was amazing to read of their sacrifices later on when I got home via a Google search.
My Grandfather’s POW Story
Being at Fort Snelling also reminds me of just how much my grandfather gave, despite the fact that he wasn’t killed in action. My grandfather, Fred Anderson, was in the U.S. Army Air Corps, becoming a prisoner of war in a German POW camp for over a year. What he went through couldn’t have been easy, and I’m just sad that he passed at such a young age (in his 60s) due to Parkinson’s Disease and a stroke. I was never really able to get a full accounting of his experiences as I would have liked.
I recently did find out a bit more about his experience as a prisoner of war by reading a book about the experiences of many others in the same prison camp as him, called The Last Escape, The Untold Story of Alled Prisoners of War in Europe 1944-1945.
My grandfather was a replacement waist gunner on a B-17 that was shot down in February of 1944. He had flown three successful missions with his crew, but on the fourth mission during “The Big Week” (see wikipedia) they were returning from a bombing run over Leipzig, Germany, and were shot down.
The entire crew parachuted out of the plane, but were quickly captured by the Germans. They were sent to Stalag Luft 4 near Grosstychow, Prussia where 6,660 other American POWs were held.
My grandfather’s capture was first reported to the International Committee of the Red Cross on February 22, 1944, and he was imprisoned for at least 473 days (1 year and ~4 months) according to the Red Cross.
His recollection of being liberated was in a hospital bed. He went to sleep one night in ill health as a prisoner of the Germans, and woke up to find the Russians had overrun the area. He eventually made his way to France where he recuperated, and then on home to Minnesota where he married and had a family, including his firstborn – my father.
When he left home before the war he weighed in at 180 lbs, and came home at a thin 130 lbs at the end of 1945. We’re so thankful he made it back, so many were not so lucky.
Since it is Memorial Day weekend the cemetery will be in full bloom with flags flying, and flowers on countless graves, in remembrance of loved ones. It’s usually a very stirring sight, and I may try to make it down there the day after to get a glimpse – and to say thank you in prayer for all those brave men and women.
So on this Memorial Day weekend, thank you to our veterans, and thank you to those who have already paid the ultimate price. You won’t be forgotten.