American Financial Network Inc. bills itself as one of the fastest growing mortgage bankers in the United States, and is indeed ranked in the top 50 nationally.
But they’re not satisfied with that, and believe they have what it takes to land in the top-10 one day. Of course, the competition is pretty fierce at the very top of the pile.
Aside from being a high-growth company, they are also a highly-rated one, finding themselves among the top three lenders on LendingTree based on customer reviews.
That’s pretty impressive given the fact that there are more than 800 mortgage lenders listed there.
Let’s dig into the details to learn more about this SoCal mortgage lender.
American Financial Network Quick Facts
Retail direct-to-consumer mortgage banker founded in 2001
Headquartered in Brea, CA – licensed in all 50 states and D.C
Offers home purchase loans and refinance loans
A top-50 mortgage lender nationally by loan volume
Funded more than $7 billion in home loans last year
185+ physical locations and 700+ loan officers nationwide
One of the top-rated mortgage lenders on LendingTree based on customer reviews
American Financial Network Inc. was founded in Chino Hills, California by mortgage industry veteran Jack Sherman back in 2001.
The company later relocated to nearby Brea, CA before growing rapidly and hitting its first billion-dollar funding year in 2012.
Today, it’s one of the nation’s largest mortgage lenders (top-50), having funded over $7 billion last year alone.
In 2019, they signed on New York and Vermont to achieve their goal of nationwide licensing, and recently celebrated their eighth billion-dollar origination month in a row.
That means they’re on track to fund more than $10 billion in mortgages this year, which should make 2020 a record year for loan volume.
While they have the ability to lend anywhere, including Alaska and Hawaii, the company is most active in the states of Arizona, California, Florida, Texas, and Virginia.
Nearly half of last year’s volume was made up of home purchases, with the remainder split about evenly between cash out refis and rate and term refis.
One other fun fact about the company – apparently 37 different languages are cumulatively spoken, a testament to their diversity.
How to Apply with American Financial Network
You can apply directly from their website without human assistance
They use a digital mortgage loan process known as SNAP
Allows you to scan/upload paperwork, eSign documents, and order a credit report on your own
Can check loan status 24/7 and contact your loan officer via text/phone at any time
AFN is a Fannie Mae Seller/Servicer, Ginnie Mae and Freddie Mac Issuer, and USDA & VA LAPP approved, meaning they can get things done quickly in-house.
Additionally, they provide fully underwritten mortgage pre-approvals, so you can be confident to move forward as a prospective home buyer.
If you’d like to apply for a home loan, you can do so directly from their website or via their free smartphone app.
I believe they offer a digital mortgage application powered by Ellie Mae that lets you complete most tasks electronically. It’s known as SNAP.
Once your loan is approved, you’ll get a to-do list with the ability to scan and upload conditions, eSign documents, and track loan progress 24/7.
Loan Types Offered by American Financial Network
Home purchase loans
Refinance loans (rate and term, cash out, streamline)
Home renovation loans
Conventional loans backed by Fannie Mac and Freddie Mac
Jumbo home loans up to $2 million loan amounts
Government-backed home loans: FHA, USDA, and VA
Down payment assistance programs
Fixed-rate and adjustable-rate home loan options available
American Financial Network is a mortgage banker, meaning they have correspondent relationships with lots of investors to ensure they’ve got every loan product a borrower could need in-house.
This basically allows them to resell loan products from other companies, providing a wider breadth of offerings than other lenders.
Additionally, their loan officers may have the ability to broker out loans if you have a unique loan scenario that can’t be placed in-house.
They offer tons of loan options, including home purchase loans, refinance loans, and home renovation loans. It’s unclear if they have construction loans.
You can finance a primary residence, second home, or investment property, including condos and townhomes.
With regard to loan type, you can get a conventional home loan backed by Fannie Mac or Freddie Mac, a government loan backed by the FHA/USDA/VA, or a jumbo home loan that exceeds the conforming loan limit.
They also have a variety of down payment assistance programs for those who may need a little helping hand asset-wise.
Aside from all the usual stuff, they say they’ve got bank statement programs for self-employed borrowers and real estate investors, and other specialty products to accommodate other needs.
American Financial Network Mortgage Rates
Like many others, American Financial Network doesn’t publicize their mortgage rates on their website.
This says nothing about their rates in general, but it does leave us in the dark unfortunately.
I give lenders transparency points for listing their rates on a daily basis, but I also understand the shortcomings of advertised rates, which often only fit one ideal loan scenario.
That being said, you can get a quick, free mortgage rate quote by filling out a short form on their website or by simply calling them directly.
The form is very short, though you will need to provide contact information.
AFN also doesn’t list its lender fees anywhere, so we don’t know if they charge a loan origination fee and/or other common fees like underwriting, processing, or application fees.
Be sure to speak with a loan officer to get a mortgage rate quote along with the applicable lender fees and mortgage APR so you can shop your rate with other lenders.
American Financial Network Reviews
They are a top-rated mortgage lender on LendingTree (top 3 at last glance) with a 4.9-star rating out of 5 based on nearly 23,000 customer reviews.
The company also boasts a 99% recommendation rate on LendingTree, which is clearly hard to beat.
The only two lenders that are rated above them on the LT network are New American Funding and Fairway Independent Mortgage.
On SocialSurvey, AFN has a 4.82-star rating out of 5 on a whopping 51,000 customer reviews. That’s pretty impressive given the high volume of customer feedback.
On Zillow, they’ve got a 4.94 rating out of 5 based on more than 2,100 reviews.
Lastly, they’ve got a ‘B+’ rating with the Better Business Bureau, and have been an accredited company since 2019.
In summary, American Financial Network checks all the major boxes and seems to really excel in customer satisfaction, a big plus for those seeking a mortgage.
American Financial Network Pros and Cons
The Good
Can apply for a mortgage directly from their website without speaking to anyone
Lots of different loan programs to choose from
Thousands of excellent customer reviews
Top ranked company on LendingTree
Loan officers and support staff may also speak Spanish
Brick-and-mortar locations if you prefer to work in-person
Free smartphone app to manage your loan
Mortgage calculators and mortgage glossary on their website
Are you not a suit-and-tie kind of guy? You don’t have to be in order to achieve incredibly impressive real estate sales! Today’s guest, Phillip Salem, quadrupled his business when he stopped trying to be like other Realtors and started being himself. On this podcast, Phillip shares his story, his strategies for staying on top of the market, and his philosophy for helping clients find the perfect place to call home.
Listen to today’s show and learn:
About Phillip Salem [3:27]
Learning sales in New York City [6:52]
Staying authentic in the real estate business [8:43]
#NotYourBasicBroker [12:43]
Letting the wrong clients go [14:50]
Achieving exponential growth by knowing the market [19:33]
Doing marketing that you enjoy [21:52]
Selling the lifestyle and finding a client’s “why” [24:00]
Phillip’s love for animals and volunteering [30:28]
Phillip’s advice for new real estate agents [32:59]
The best way to learn the real estate business: buyers [36:22]
Where to find and follow Phillip Salem [40:12]
Phillip Salem
With his trademark combination of optimism, wit, and perseverance, Phillip Salem is one of the most sought-after agents in New York City. (There’s a reason he’s known as #NotYourBasicBroker, after all.) Though originally from Ohio, Phillip was drawn to the cultural diversity, art scene, and beautiful highrises of the Big Apple, moving to the city 14 years ago.
Shortly after graduating from The Fashion Institute of Technology, Phillip opened a designer clothing boutique in the Meatpacking District called OWEN. It was here he acquired valuable customer service and business skills as well as more deeply developed his natural talent for design and style. After closing the store, Phillip transitioned from selling clothing to selling a lifestyle, diving into real estate.
Phillip prides themselves on being 100% authentic and transparent at all times, and clients— who affectionately refer to him as “Agent P”—consistently note his outgoing, friendly, and trustworthy personality. Phillip believes that buying a home should be a fun and exciting process, which is why he injects warmth and passion into everything he does. He aims to go above and beyond for each one of his clients, making a positive impact on their lives and giving them an unparalleled experience.
Phillip currently lives with his husband and two dogs: Chiquita Banana and Cookie Dough. Some of their favorite pastimes include lounging by the pool, traveling, and sitting front row at Mariah Carey concerts. Phillip is also passionate about animals and giving back to the community, and can often be found volunteering at Animal Haven in SoHo and fostering senior dogs.
Related Links and Resources:
Thank You Rockstars!
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email. -Aaron Amuchastegui
When 43% of Americans haven’t had a vacation in a year or more and a half are only using nine days off on average to travel, people are finding a way to bring pieces of their getaways into their everyday lives with their home decor.
Between the cost of travel, worrying about falling behind on work, hurting their chances for a promotion, or risking losing their job, Americans aren’t using all their vacation days. So across the country, people decorate their homes to remind them of their favorite vacation destinations when they can’t get away.
In a survey conducted by OnePoll on behalf of Puffy, Americans reported that interior design decisions weren’t about function or creating spaces that better served their needs. They were about craving a luxe space that felt more like a sanctuary.
“There is actual science for why we choose to decorate our homes with memories tied to a specific place — it’s called Topophilia, the love of a place,” explains Lars Gesing, a fine arts nature photographer. “It’s an effort of our society, which now spends up to 80% indoors, to reconnect with nature.”
“As an interior designer, I find that travel can be one of the most inspiring sources of creativity. Exploring new cities, immersing myself in different cultures, and admiring the natural beauty of a destination all provide endless inspiration for my work,” reveals Carmelo of Axel Property Management.
“When I return from a trip, I often find myself incorporating elements of what I’ve seen and experienced into my design projects.”
According to an analysis by Storyboards.io, New York, California, Texas, Pennsylvania, Illinois, Ohio, Florida, Georgia, Massachusetts, and Missouri are the U.S. states with the most design inspiration. These rankings considered the number of landmarks, museums, and design-related hashtags when sharing images on social media.
New York is where decor dreams of made of. The state has 276 landmarks, 786 museums, and many attractions over its 11 regions. From Niagara Falls to New York City, Catskills to Cooperstown, and Hudson Valley to Hudson Yards, there’s a diversity of landscapes and landmarks to incorporate into living spaces.
“My biggest decor inspirations are the clean lines of New York City,” says Diana Kellogg, architect. “The Mercer Hotel comes to mind in terms of style inspirations as Christian Liaigre’s clean, comfortable, and timeless look represents the ideal of the modern styling I base my decor on.”
Home to many iconic cities and landscapes, California trails closely behind New York for driving people’s decor decisions. With mountains, beaches, desert, national parks, stunning historic and modern hotels, plus the creator’s spirit of Hollywood, it is also a creative well for home decoration.
One of those inspired vacationers is Raf. After traveling to 45 countries and 46 U.S. states, he designed his home office after one California destination known for its mix of mid-century modern design and playful use of colors.
“My office color palette is inspired by Palm Springs with a blush-colored sofa, teal-accented throw pillows, and a vibrant rug to set the tone. The wall color, Benjamin Moore’s Palladian Blue, provides a serene setting, and the tropical plants thrive in the natural light that comes through the window,” shares Raf, Interior designer, Founder of Meble Furniture.
Other travelers have gone as far as recreating their favorite hotel room in their own homes.
“My husband and I love the Ojai Valley Inn. They decided to remodel all the guest rooms about seven years ago, so I bought their outgoing Spanish-tile-inspired fabric, drapes, pillow shams, furniture, artwork, and accent pieces. I completely redid my living room and bedroom,” admits Elizabeth Borsting, account manager.
“Whenever I get ready for bed, I ask my husband to ‘Ojai Valley Inn’ the room, which means closing the drapes. It really transports me back to the inn, one of my happy places.”
During the pandemic shut-in, people re-did the outdoor spaces of their homes to increase their living areas. Add in pandemic-era travel to wide open spaces and nature destinations, and people’s outdoor living spaces also transformed into a reflection of beloved vacations.
“One of my favorite places to visit and vacation is Hawaii. I love the tropical environment — from the beaches to the animals to the colorful plants. One of the Hawaiian flowers that I really love is Birds of Paradise,” says Jeremy Yamaguchi, CEO of Lawn Love.
“So, a few years ago, after a trip to Hawaii, I researched the plant and figured out it’s suitable as an indoor plant. I got a few, and they sit in my sunroom.”
“I fell in love with the Florida Keys. The tropical flowering plants, orchids, and the many variations of palms, both big and small. The bright colors, the blues, yellows, light greens, pinks, and the turquoise blue water,” adds Marc Renson.
“So I came home to New York and created a Key Largo front porch. I walk out the front door, yell to my husband, ‘I’m going to Key Largo,’ and sit on my front porch.”
According to AAA booking data, international travel is up more than 200% in 2023. These cross-border travelers have also inspired people to bring those memories made abroad during their paid time off into their everyday lives.
“The Dunmore Hotel in Harbour Island, Bahamas, inspired me to design our home with an island feel. It’s a whimsical blend of organic greenery, carefully curated vintage pieces, casual and unpretentious elegance with a combination of natural textures and pops of color,” shares Violette de Ayala.
“There is a sense of elegance and rustic homage to island life that I fell in love with and was able to transport into our home in Miami.”
“The mix and blend of vintage rattan, old art, pops of turquoise, and an array of natural fibers, including fresh-cut greenery from the outdoors, was so captivating, and these components were easily adaptable at our home. I love the black and white striped awnings and added these to the exterior of our home,” Ayala continues.
“You can’t travel to the Mediterranean region without coming back inspired to redo your decor at home. With the rich textures and colors you find in traditional homes throughout Spain, Italy, and the Greek Isles, you’ll want to bring a little piece of that back with you in your own home,” explains Todd Saunders, CEO of Flooring Stones.
“A tile backsplash with a Mediterranean design was our choice after our travels to Greece. It’s a great reminder of our awesome trip and is a focal point of the kitchen,” he adds.
This article was produced by Planner at Heart and syndicated by Wealth of Geeks.
Welcome to the ultimate guide for anyone considering a move to the lively city of Chicago. Moving to Chicago can be thrilling and overwhelming, but fear not – Redfin has you covered. Whether you’re drawn to the mesmerizing skyline, the deep-dish pizza, or the rich cultural scene, you should know some crucial things before calling the Windy City your new home. From navigating the diverse neighborhoods to understanding the unpredictable weather, we’ll equip you with valuable insights to ensure a smooth transition. So, whether you’re moving into your new studio apartment in Chicago or your new house in the city, buckle up and get ready to uncover the essential tips and tricks to make your move to Chicago an unforgettable experience.
1. The cost of living is high
One of the most crucial things to know before moving to Chicago is the the high cost of living in Chicago. The expenses in Chicago can be steep. In fact, the cost of living is 19% higher than the national average. Housing costs in particular are 50% more than the national average and tend to be most expensive in desirable neighborhoods like the Loop, River North, or Lincoln Park. Additionally, everyday expenses such as groceries, transportation, and healthcare are generally pricier in the city. When planning a budget for living in Chicago, it’s essential to consider these factors. Additionally, it’s worth noting that the farther you venture outside the city, the more affordable suburbs you’ll discover.
2. There is a great sense of community in the city
From vibrant neighborhood festivals and local initiatives to a rich tapestry of cultural diversity, the city fosters a welcoming atmosphere that creates lasting connections and a shared sense of belonging.
“What sets Chicago apart is its remarkable sense of community, where people come together, support one another, and create lasting connections,” says Jodie Baudek from Essence of Life Chicago, an integrative wellness company. “If you plan to make this city your home, research and find the neighborhood that resonates with your spirit. That’s where you’ll discover your tribe, your people, and the place where you’ll truly thrive.”
3. Chicago is a food lover’s paradise
The city is renowned for its deep-dish pizza, an iconic staple that has gained worldwide recognition. However, Chicago’s food offerings extend far beyond pizza, and it’s great to know before you move to there. From neighborhood hot dog stands to Michelin-starred restaurants, the city boasts a plethora of culinary delights that cater to every palate. With its rich cultural heritage, Chicago showcases an incredible variety of international cuisines, including Italian, Mexican, Chinese, Indian, and more. The city is also known for its bustling food markets, such as the famous Chicago French Market and the revitalized Chicago Riverwalk, where visitors can savor artisanal foods and local specialties.
4. You’ll find many charming neighborhoods
Chicago neighborhoods are brimming with charm and offer a unique blend of history, culture, and community. From the vibrant and artistic Avalon Park to the picturesque and diverse South Shore, these southern neighborhoods showcase architectural gems, local eateries, and vibrant street life, making them a must-visit for anyone seeking an authentic Chicago experience.
Abbey Brown, a local soap artisan shares, “Walking, biking, and an easy commute by bus or train are how we roll here in Chicago. Once here, make your way to find creative neighborhoods with architectural delights. Each area has specialty shops, unique flavors, and experiences that will draw you in perfectly, making Chicago your home base.”
If you’re in the Beverly neighborhood, start your south-side adventure at the 99th and Wood Street stations district. First stop, fill your belly with the succulent South Side Short Rib Grilled Cheese from Afro Joes’. Next, head straight to the award-winning Five-Star Cakewalk Chicago flagship store, where baking enthusiasts can find essential supplies for mixing up delicious traditions and classes from Chef Lori to elevate your skills.
5. There are hidden gems throughout the city’s architecture
Chicago’s architecture is a stunning testament to the city’s rich history and innovative spirit. From the iconic skyscrapers of the Loop to the grandeur of Frank Lloyd Wright’s designs, Chicago’s architectural landscape is a breathtaking blend of classic elegance and bold modernity.
“Chicago is known for its architecture, but less known is that many of the historic buildings have lobbies open to the public,” says Chicago Private Tours and Productions. “This includes the restored-to-1890s Monadnock Building and the Frank Lloyd Wright-designed atrium of the Rookery Building. Inside the Chicago Athletic Association Hotel lobby, you can easily imagine the wealthy elite drinking Scotch by the fireplaces while they divide the city.”
6. Sports are a huge part of Chicago life
If you’re a sports enthusiast, Chicago is for you. The city is home to several iconic franchises, including the Chicago Cubs and the Chicago White Sox in Major League Baseball, the Chicago Bears in the National Football League, the Chicago Bulls in the National Basketball Association, and the Chicago Blackhawks in the National Hockey League. Whether you’re a baseball, football, basketball, or hockey fan, there is a Chicago team to cheer on. The city’s sports culture is deeply ingrained, and attending a game at one of the historic venues, such as Wrigley Field or Soldier Field, is an experience unlike any other.
7. Chicago is a hub for car enthusiasts
With its bustling auto scene and many automotive events, Chicago is a haven for car enthusiasts. From the annual Chicago Auto Show, showcasing the latest models and innovations, to the thriving car culture and regular meetups, the city offers an exciting haven for those passionate about all things automotive.
“For automotive enthusiasts, you’ll be pleased to know that Chicago offers a thriving car culture,” shares Matt Farnsworth from Vintage Ltd., a men’s motorsport apparel company. “You’ll find numerous car clubs, auto shows, and events throughout the year, including the renowned Chicago Auto Show held annually at McCormick Place. Additionally, this year’s NASCAR race will be held in downtown Chicago, providing an exciting opportunity for racing fans to experience the thrill of high-speed action in the city’s heart.”
8. You’ll find the city full of robust history and culture
Chicago’s rich history, from trading post to innovative industry hub, contributes to its robust and captivating legacy. Renowned architecture, world-class museums, thriving music and theater scenes—all contribute to the vibrant cultural legacy of the city.
The Firehouse Dream, a local space for BIPOC creatives, shares, “As a community-centered organization, the robust history and culture is important to know before moving to Chicago. As a diverse city, it provides various cultural experiences through food, art, and community-led projects that bring awareness to each neighborhood, like Humboldt Park, Bronzeville, Chinatown, and more. Consider how you can use food, music, and activities to learn more about all the beautiful culture here.”
9. The weather can be hard to adjust to
The weather in Chicago is famously unpredictable, with rapid changes that can occur within hours. Chicago’s weather demands preparedness year-round as residents and visitors face sudden temperature drops, snowstorms, heatwaves, and thunderstorms.
When you’re ready to beat the summer heat or take a break from the bitter cold, take a sweet retreat at Sat Nam Yoga. Located just 10 minutes west of the hustle and bustle of the lake and shopping district, this quiet oasis provides a perfect escape. Check out a yoga class or sound bath to take a rest at this popular Chicago healing sanctuary.
10. There are various housing options available
Chicago offers diverse housing options to suit different preferences and budgets. From high-rise apartments in the downtown area to charming brownstones in historic neighborhoods like Lincoln Park and Lake View, there are options for everyone in Chicago. Suburban areas surrounding the city provide spacious single-family homes and townhouses, ideal for families or those seeking a quieter lifestyle. Moreover, the city has witnessed a rise in contemporary and upscale apartment complexes, offering amenities like concierge services.
11. Plenty of efficient public transportation can be found
Chicago boasts a robust and efficient public transportation system that caters to the needs of its residents. The city’s trains, buses, and options for commuters create a reliable transportation network covering neighborhoods and suburbs conveniently. The iconic ‘L’ train system, operated by the Chicago Transit Authority (CTA), serves as the backbone of the city’s public transit, connecting downtown with various corners of the metropolis. Commuters can easily navigate the city using color-coded train lines, which provide quick and affordable transportation. Apart from the train system, an extensive bus network covers nearly all city areas, providing flexible options. The Metra rail system provides reliable service for those commuting from the suburbs, connecting downtown Chicago with the surrounding areas.
12. There are plenty of parks and beautiful viewpoints
With stunning parks and captivating viewpoints, the Windy City provides residents and visitors a picturesque escape from urban bustle. The city is renowned for its expansive lakefront, boasting a series of interconnected parks along Lake Michigan. Millennium Park’s iconic Cloud Gate sculpture, known as “The Bean,” and Grant Park’s serene Buckingham Fountain offer endless opportunities. The Lincoln Park and Garfield Park Conservatories display breathtaking botanicals, while the Chicago Riverwalk offers a scenic pathway with gardens. With its abundance of green spaces, iconic landmarks, and breathtaking viewpoints, Chicago has a lot to offer.
We have a job opportunity to share from a member of the GEM, Collabra Technology, data analytics and automated digital marketing solutions for the real estate industry: Chief Marketing Officer.
Job Description
The Chief Marketing Officer will focus on driving brand recognition, product adoption, use and revenue by building a well-known and respected industry brand, while executing on a comprehensive, omni-channel demand generation strategy, including email, paid and earned media, sales channel support, communications and website development/optimization.
Responsibilities Include:
Develop and implement the overall SphereBuilder marketing strategy and act as a strategic partner to the CEO by proactively identifying opportunities for marketing innovation, improvement, and growth.
Tell the SphereBuilder story by creating a narrative that amplifies the intersection of data analytics and real estate digital marketing and position SphereBuilder as the undisputed leader of this category.
Collaborate closely with the leadership team to establish and maintain a consistent and compelling brand vision, while aligning marketing efforts with the company’s overall strategic goals.
Recruit, build, and motivate a high-quality marketing organization. Empower the team to grow and thrive. Develop a winning culture that supports high-energy interaction, responsiveness, attentiveness, and high integrity.
Develop and manage SphereBuilder’s digital marketing programs that support ambitious pipeline and sales/revenue targets, optimizing these efforts through continuous A/B testing.
Own campaigns from end-to-end: managing creative processes, targeting and segmentation, planning, execution, and reporting.
Build out and optimize SphereBuilder’s website, including content strategy, navigation and UI, SEO strategies, and lead conversion tactics.
Establish paid media strategies to reach new audiences and generate leads, including SEM, content syndication and paid social.
Bring on new demand generation tactics such as webinars, virtual or live events, customer stories, podcasts and immersive demos.
Partner with Product Marketing to build and execute on email marketing strategies that span the full customer lifecycle and increases conversions at each stage of the funnel.
Collaborate with our Product team to understand product roadmap and release schedules so as to align marketing strategies with the future development of the platform.
Partner closely with the channel sales organization to ensure support for effective lead generation and conversion opportunities.
Work directly with our broker enterprise customers to drive awareness, use and adoption by their affiliated real estate professionals.
Manage the marketing budget, allocating resources efficiently to achieve optimal results across different marketing initiatives and channels.
Cultivate strong relationships with key industry partners, influencers, and media outlets to amplify SphereBuilder’s brand visibility and reputation.
Champion a data-driven approach to marketing decision-making, leveraging advanced analytics and insights to continuously optimize marketing investments and maximize ROI across all channels and initiatives. Analyze and report on marketing performance metrics while identifying opportunities for optimization and growth.
Foster a culture of data-driven decision-making within the marketing team, ensuring that all team members are proficient in using analytics tools and methodologies to track performance, identify opportunities for improvement, and make informed decisions about marketing investments.
Define and craft the vision, strategy and execution plan for the external and internal communications function supporting the launch and growth of SphereBuilder in alignment with the near-mid-long term objectives and priorities.
Develop and edit press releases, articles, success stories, technical articles and media pitches to further the visibility of SphereBuilder.
Coordinate media interviews and prepare media briefing documents, including key messages.
Responsible for overall strategic vision and planning of events to increase awareness of SphereBuilder and to help the company achieve growth goals. Manage all aspects of events from pre-planning, resources, marketing, on-site coordination and post-event follow-up.
Responsible for effective budget management while ensuring high-quality, high-impact events support that generate ROI. Analyze event ROI through post-event surveys and post-mortems to continuously identify areas of improvement.
Responsible for the development of the overall corporate event strategy, including conferences, webinars, road shows and tradeshows.
Lead the development and distribution of thought leadership content, such as whitepapers, case studies, video series, podcasts, and blog posts, to establish SphereBuilder as a leader in the intersection of digital marketing analytics and content creation.
Identify and pursue relevant industry awards and recognition opportunities to further elevate SphereBuilder’s brand reputation.
Qualifications, Experience And Skills.
10-15 years’ experience and proven success as a marketing leader of a technology company serving the residential real estate industry.
Deep understanding of product-led growth strategies and demonstrated success in supporting subscription services with recurring revenue.
Demonstrated experience in creating world-class top of funnel demand generation strategies mapped to business goals.
A strong creative vision, with the capability to develop innovative marketing campaigns and initiatives that resonate with the target audience and drive engagement.
A team player who is not afraid of doing whatever is necessary to get the job done.
Insane analytical skills and data competency with a demonstrated experience using web analytics to make data-driven decisions that further business objectives and digital marketing strategy, including deep understanding of digital channels, new marketing technologies and industry best practices and benchmarks.
Strong experience with data-driven decision-making, including expertise in using analytics tools and methodologies to optimize marketing investments and maximize ROI.
Strong interpersonal and communications skills, with the ability to collaborate effectively with the CEO, leadership team and external partners while ‘checking your ego at the door.’
Demonstrated ability to lead, mentor, and develop high-performing marketing teams, fostering a culture of innovation, collaboration, and continuous improvement. Values thought diversity and ensures all appropriate team member views have been raised and considered when making key decisions.
An understanding of real estate industry competitive landscape, best practices, platforms and tools.
Experience managing and optimizing marketing budgets, allocating resources effectively across various marketing initiatives and channels.
Experience managing a company’s website and driving improvements in user experience, lead generation, and brand representation.
Excellent writing skills, with the ability to craft compelling narratives, thought leadership content, and marketing communications that effectively convey SphereBuilder’s brand message.
Demonstrated success in building and maintaining relationships with key industry partners, influencers, and media outlets to amplify SphereBuilder’s brand visibility and reputation through PR and thought leadership opportunities.
A genuinely nice human who likes to smile, laugh and is generally fun to be around, even when business gets crazy.
According to a study by Ernst & Young, there is one trait that is shared by 94% of women who hold C-suite level positions. PepsiCO CEO Indra Nooyi has it. So does former Hewlitt-Packard CEO Meg Whitman. Elevance Health CEO Gail Koziara Boudreaux and Sheex CEO Michelle Marciniak possess it as well.
So, what is this trait? These women are all former athletes.
We have long known about the physical and mental health benefits of team sports. What the Ernst & Young study showed was that women who are high school and college athletes are also being coached on how to be leaders in the business world. From hardened work ethics to strong problem-solving skills to enhanced management abilities, these women come equipped to win in today’s workforce.
My college basketball career at Dartmouth College — and later during a professional stint overseas — played a significant role in developing the leadership skills I utilize every day. Although leaders do develop such skills in other ways, participation in sports provided me with multiple opportunities to overcome challenges, test personal limits and hone my competitive spirit. Here is what I learned:
Teamwork. Playing basketball taught me that leadership is about building relationships that drive people to achieve a common goal. By depending on their team members’ experience and skillsets, praising individual successes and focusing on the big picture, the best leaders inspire those around them to achieve greater success.
Communication. Effective verbal and nonverbal communication are an integral part of a successful organization. It ensures team members understand their duties and responsibilities, helps build quality client relationships and creates a positive work environment.
Perspective. The best leaders do not concentrate on what they cannot control but instead focus on what they can control: effort, attitude and perspective. Doing so helps you move on and focus your energy constructively.
Authenticity: Basketball taught me the need to be my authentic self. You develop stronger relationships with your teammates and coaches when they know that you are genuine and real. The same can be said about growing relationships within an organization. The best leaders understand that acknowledging and working with their team members’ individual strengths, weaknesses — and idiosyncrasies! — makes their organization stronger.
Throughout my professional career, I have seen the skills we learn from athletics directly translate to the business world. I am passionate about empowering more girls to play team sports and to help develop the female leaders of tomorrow.
Connecting a competitive edge, a strong marketing approach and a good customer experience
Strong communication is one of the essential skills to a winning basketball team. Whether calling out plays, setting picks or executing screens, players must communicate to ensure everyone on the court is working towards the same goal.
That communication focus extends to business. In order to gain a competitive advantage, you need to know your customers and their communities and have effective, timely communication to build layers of trust that results in a flourishing relationship. When customers feel heard and understood, their experiences are inherently better ones.
That said, successfully engaging with borrowers today is all about meeting them where they are. You better understand customers’ needs through listening to what they and the data are saying and by more effectively communicating the right message in a way that works for them. Volly’s most successful customers use our tools to engage with a combination of email, social, print and other multi-mediums that when choreographed together successfully blankets the market. This is how lenders can exceed their customers’ expectations, deliver better borrowing experiences and cultivate stronger relationships within their client base.
Marketing automation can also help lenders build stronger client relationships.
Today’s loan officers simply do not have the time to undertake the various tasks that create customers for life — such as prospecting, crafting curated emails and creating engaging content for multimedia campaigns. This is when marketing automation tools can be especially impactful.
A strategic marketing automation partner can help lenders generate stronger leads, increase conversion rates and access more accurate data for determining the effectiveness of marketing efforts. But most important of all, marketing automation gives lenders more time to make the genuine human connections with customers that build trust and create brand loyalty.
How Volly helps lenders create customers for life
In today’s always-competitive mortgage market, connecting with prospects and transforming these leads into customers for life is the biggest challenge facing lending organizations. The path from capture to convert to retain is a not simple, straight line but a complex path with plenty of twists and turns.
I like to think that the diversity of our solutions is what sets Volly apart. It’s how we are able to help today’s lenders overcome challenges that are both unique and ever-changing. We offer an online marketing store and mortgage websites to give lenders more promising leads. We provide a CRM solution, email automation and creative services to help lenders boost conversion rates. And we drive repeat business for lenders with personalized retention programs and gift fulfillment.
Complex challenges demand best-in-class solutions — and this is what Volly delivers.
If you’re putting in the effort of researching companies, deciphering ESG scores and choosing investments, you probably want to know what your dollars are actually doing.
I’ve long wished for an app that would tell you exactly how many polar bears you’re saving with X number of dollars in ESG investments. Unfortunately, ESG statistics and impact reports don’t deal in polar bears.
Measuring ESG’s output of good is tricky. “Good” is not necessarily a concept we all agree on. Plus, to show how a company is doing, ESG uses numerical scores that are not easily deciphered.
Here’s one example: A major energy drink manufacturer had an ESG score of 0. The company massively reduced the amount of forced labor in its supply chain thanks to shareholder interventions, says Andrew Behar, CEO of As You Sow, a nonprofit working to increase corporate environmental and social responsibility.
Reducing forced labor was overwhelmingly better for the brand, and the return on investment outweighed the cost of implementing new practices. Much of the focus of making this change was on improving the company’s ESG score (which went from 0 to 26 out of 100), but the result was a significant reduction in forced labor.
Greenwashing and ESG
How do you assign a number to positive impact? There are a few ways, such as pounds of carbon prevented from entering the atmosphere, or dollars donated to charity, but even those numbers can be misleading. Those misleading, or sometimes entirely false, claims are called greenwashing.
Many automated financial advisers, or robo-advisers, now offer impact portfolios. Those portfolios are typically made up of exchange-traded funds built along certain themes, such as investing in clean energy. A few say they donate to charities. But several of these funds haven’t donated a dollar.
ESG is a grading system that can be used to combat greenwashing by providing quantitative data. But since the term “ESG” isn’t regulated, that can cause even more confusion.
“We did a report where we noticed that there were 90 mutual funds with ESG in their name, and 60 of them got a D or an F on ESG from us,” says Behar. “So we did an analysis of their prospectuses. The bottom line is that the prospectus language is in no way correlated to the holdings, and no way correlated to the [fund] name.”
What are your impact dollars doing?
If you’re trying to figure out what the overall good output is from ESG, you may be searching for a long time. Those numbers don’t exist (at least not yet). What does exist are examples of individual companies slowly making change over time.
A single company decreasing the amount of forced labor in its supply chain due to ESG and shareholder advocacy is indisputably good — and that’s not the only example out there.
ESG guidelines, and the people who use them, have led to large-scale reductions in pesticide use, increased sustainability programs and increased diversity within company workforces.
Many of those companies also saw increases to their bottom lines alongside the ESG-inspired changes they made. So, yes, ESG does actually create serious, measurable good.
And while you may not be able to get a dollar-to-net-impact metric just yet, that doesn’t mean that ESG isn’t worth investing in. ESG innovations are popping up all the time that help everyday investors make better choices.
Some exchange-traded funds now have a feature that automatically removes companies that fall outside of the bounds of set ESG levels, says Alexandra Mihailescu Cichon, chief commercial officer of RepRisk, an ESG data science company.
Don’t lose hope
Amid what can feel like trickery and highly targeted marketing, what are well-intentioned investors to do? Keep the faith.
“I think we’re in a stage where we’re in a bit of a transition between the era of commitments and pledges,” Cichon says. “And now we’ve moved on to the next era, which is more about execution of all of these commitments. And then, as part of that execution, that is really about measuring that impact and seeing whether it actually effects the change.”
This era of change has come about because investors have demanded more from the companies they invest in. Despite the greenwashing and politics, the landscape and popularity of ESG investments have changed dramatically. Massive amounts of money have poured into sustainable investments over the last few years.
This, more than anything, has sent a clear message that investors are fed up with business practices that do more harm than good. And the outrage at the lack of transparency surrounding those practices reinforces that investors will continue to hold businesses accountable until they start seeing real change. And maybe even save some polar bears.
This article was written by NerdWallet and was originally published by The Associated Press.
Located in the heart of California’s Central Valley, Stockton is a vibrant city with a rich history and a diverse array of cultural, economic, and recreational offerings. Nestled along the San Joaquin River, Stockton has a strategic position as an inland port, contributing significantly to the state’s economy.
In this article, we will explore what Stockton is known for, shedding light on its notable features, industries, attractions, and overall appeal. Whether you’re searching for homes for sale, considering Stockton apartments, or you just want to learn more about the area, this Redfin article will uncover the essence of what makes Stockton a truly remarkable California city.
1. Agricultural hub
Stockton’s prime location in the agricultural heartland of California has made it a vital hub for agricultural production and distribution. The city benefits from its proximity to fertile farmlands, allowing it to flourish as a leading center for the processing, packaging, and transportation of various crops such as asparagus, tomatoes, cherries, almonds, and wine grapes. Stockton’s agricultural prowess has earned it the title of “California’s Inland Port.”
2. Inland port and transportation
Stockton’s designation as an inland port stems from its access to an extensive network of transportation infrastructure. The city boasts a deepwater port, providing a direct link to the Pacific Ocean via the San Francisco Bay. This facilitates the movement of goods and makes Stockton an important hub for international trade. Additionally, its central location between major cities like San Francisco and Sacramento makes it a strategic transportation nexus within California.
3. Cultural diversity
Stockton takes pride in its multicultural heritage, with a diverse population representing a wide range of ethnicities and cultures. The city celebrates this diversity through various festivals, events, and community initiatives. The Haggin Museum offers a glimpse into Stockton’s cultural history, housing an extensive collection of art and artifacts, while the Cambodian Buddhist Temple is a stunning architectural gem that showcases the city’s rich Cambodian community.
4. Educational Institutions
Stockton is home to several renowned educational institutions, including the University of the Pacific, which ranks among the top universities in California. The university offers a range of academic programs and is known for its exceptional schools of business, law, and dentistry. San Joaquin Delta College, a respected community college, provides affordable education and vocational training to students.
5. Natural beauty and outdoor recreation
Anyone living in or moving to Stockton will be blessed with picturesque surroundings and a wealth of outdoor recreational opportunities. The city is situated along the California Delta, offering stunning waterways for boating, fishing, and kayaking. Nearby, the 3,000-acre Oak Grove Regional Park provides ample space for picnicking, hiking, and bird-watching. For golf enthusiasts, Stockton boasts numerous well-maintained courses, including the prestigious Reserve at Spanos Park.
6. Sports and entertainment
Stockton’s sports scene is thriving, with the Stockton Ports minor league baseball team attracting fans to Banner Island Ballpark. The Stockton Arena hosts various sports events and concerts throughout the year, catering to a wide range of tastes. Additionally, the Bob Hope Theatre, a beautifully restored historical venue, offers a platform for performing arts, including Broadway shows, live music, and dance performances.
Well, folks, this spring marks a major milestone in the housing market: Annual home list prices have gone negative for the first time in years. In other words, they are actually dropping nationally.
Looking at the country as a whole, sellers have priced their homes this May below where homes were priced just one year ago. That hasn’t happened in recent memory, especially after the past few years of unprecedented price hikes. But as mortgage interest rates shot up, buyers have been unable to afford the higher monthly housing payments.
Something had to give. And while today’s price dips are slight, there are no indications that overall prices will begin rising anytime soon.
So where are home prices falling the most? The data team at Realtor.com® found out. These are mostly places where prices shot up the most during the COVID-19 pandemic in the Western and Southern swaths of the country. In most of these places, there has been a lot of new construction helping to ease the housing shortage and taking the pressure off of prices to remain quite so high.
“Those markets that got the most juiced during the pandemic—where the prices really took off—are the markets where they’re now suffering the biggest declines because affordability has been the hardest there,” says Mark Zandi, Moody’s Analytics chief economist.
“The market is trying to adjust to the surge in mortgage rates and the collapse in affordability,” says Zandi. With mortgage rates hovering around 7%, he believes the price declines will continue in the near future.
“I’d be surprised if we don’t have this same conversation a year from now and prices aren’t another 3% or 4% lower than where they are today,” he adds.
For example, look at Boise, ID, No. 1 on our list, or Austin, TX, which came in at No. 2. Both were practically synonymous with the housing market’s pandemic price pump.
People who previously had to spend their nine-to-five in a big-city office building were turned into remote workers with more flexibility in where they could live. That led many people to leave more expensive cities like San Francisco and Seattle for smaller cities where they could get more space for their money.
The big caveat here is that there are still real estate markets around the country where prices are rising steadily. These are typically more affordable Midwestern markets that didn’t see the large upswings that other markets experienced during the pandemic.
To figure out where prices are falling the most, we looked at the median price per square foot in the 100 largest metropolitan areas. Then we compared median prices in May 2023 with May 2022.
We used price per square foot as the most reliable metric to track home price movement. This means in a few instances, overall home prices in a metro might be rising while the price per square foot is falling. Price per square foot is generally considered a better indicator of prices because it accounts for changes in the mix of homes for sale. For example, right now many larger, more expensive homes are sitting on the market without attracting buyers. Since those homes aren’t moving, it’s bringing up the overall price for these metros. But the price per square foot compares apples to apples and shows that in some of these markets, it’s actually cheaper to purchase a home now than a year earlier.
We looked at only one metro per state to ensure geographical diversity. Metros include the main city and surrounding towns, suburbs, and smaller urban areas.
Here’s where home prices are down the most.
Median listing price: $609,875 Median listing price per square foot: $282 Change in year-over-year price per square foot: -7.8%
Boise has been one of the poster children for the run-up in home prices during the pandemic. The area saw a massive influx of residents and soaring demand over the past few years, especially from Californians. And it’s not hard to see why.
The city checks many of the standard quality-of-life boxes that people are seeking: Homes are larger than the national average, and there’s plenty of natural beauty and outdoor recreation.
Homes in the city, surrounded by mountains, used to be a bargain. Then the pandemic hit, and from March 2020 to May 2022, prices rose 63%. Now prices are coming back down to earth.
“It’s the entry-level homes where we’re losing value,” says Boise real estate agent Rob Inman, with Boise’s Best Real Estate Keller Williams, “those homes that people got into for $400,000 to $500,000.”
That reality is rough for buyers who bought at the peak, Inman says, especially first-time buyers. The one consolation, he says, is the low interest rate they probably have on the mortgage.
But for buyers still looking for a home on the more affordable end of the spectrum in Boise, there’s a lot more to choose from now.
“Now, you can actually find stuff between $350,000 and $425,000, right in that entry-level price point,” he says. “There’s even new construction.”
Median listing price: $583,751 Median listing price per square foot: $276 Change in year-over-year price per square foot: -7.7%
When it comes to pandemic hot spots, you can’t mention Boise without bringing up Austin, too. This cultural hub and capital of the Lone Star State has attracted hordes of tech companies and homebuyers leading to a surge in prices.
During the pandemic, the price per square foot for a home in the Austin metro rose around 75% from February 2020 to May 2022. The median home list price, not standardized for size, went from about $364,000 to almost $630,000. Pandemic price growth in Austin outpaced all others on the list.
Higher mortgage rates have cooled off buyers’ ability to purchase at the same price point. Right now, a relatively new, one-bedroom condo in East Austin is being listed for $420,000, with a recent $5,000 price reduction.
Median listing price: $366,075 Median listing price per square foot: $225 Change in year-over-year price per square foot: -7.3%
Myrtle Beach, nestled in the center of South Carolina’s “Grand Strand” shoreline, is a popular and affordable summer destination. The city, named after the abundant wax myrtle tree in the area, was recently named one of the nation’s most affordable golf towns by Realtor.com.
With its beaches, boardwalk and amusement parks, and plenty of golf courses, it’s another spot where prices rose over the past few years and are now coming down.
Some of that is due to the abundance of new construction in the area. With so many homes to choose from, buyers aren’t under as much pressure to bid them up.
Homes in Myrtle Beach are relatively small, so if buyers aren’t looking for a colossal home, the actual median price on homes there is 15% to 20% less than the national median. This remodeled three-bedroom, two-bathroom house is on the market for $284,900 after a $15,000 price cut.
Median listing price: $529,450 Median listing price per square foot: $274 Change in year-over-year price per square foot: -5.6%
During the COVID-19 pandemic, home prices in Phoenix got as hot as a sweltering Sonoran summer, and just as the monsoons mark the end of the season, raised interest rates have come like a cold downpour on the market. After more than 50% pandemic-era appreciation here, the median price per square foot is down more than 5%.
But the housing boom in Phoenix—as well as the subsequent correction—is nothing new for the Valley of the Sun. Phoenix was one of the markets with the biggest swing up and down during the late 2000s housing bubble and crash.
Part of the reason why is that Phoenix has the capacity for so much growth. Without a real winter to speak of, home construction can go on year-round. And the only thing surrounding Phoenix is more land, so developers can continue to build outward.
“Developers can keep sprawling,” says local real estate agent Angela MacDonald. “Without the new homes, we wouldn’t be able to keep up with the demand for people moving here.”
Even with the price decline, sellers still have a bit of an edge in the market. There are still many buyers and not as many homes to go around.
Median listing price: $549,900 Median listing price per square foot: $305 Change in year-over-year price per square foot: -4.7%
Florida was another red-hot real estate market during the pandemic. As more folks could work remotely, many migrated to the Sunshine State with its low taxes, reasonable cost of living, and year-round warm temperatures.
Part of the reason Sarasota, about an hour south of Tampa on the southwestern coast of Florida, made our list is because it’s also one of the places in the U.S. where the number of homes for sale has risen the most.
Sarasota homes are also spending longer on the market, with the median listing on the market for nearly eight weeks. Homes were selling in about half of that time a year ago.
This midcentury three-bedroom home near downtown Sarasota has undergone a price reduction bringing it down to $499,000.
Median listing price: $635,000 Median listing price per square foot: $247 Change in year-over-year price per square foot: -4.0%
Salt Lake City is another area that’s grown in popularity over the past few years and attracted more tech companies and workers. That led prices to rise—until recently.
“Buyers are holding back a little when it comes to waiving contingencies or inspections,” says Lory Hendry, a real estate agent at Windermere Real Estate in Salt Lake City, ”
That’s in contrast to the frenzy of the pandemic, when fast sales were often sealed without those protections.
Salt Lake City has the biggest homes of any metro on our list. So buyers looking for more home for their money might want to give the city a hard look. Surprisingly, it’s the higher end of the market, the larger, more luxurious homes, where high demand is still leading to quick sales and competition among buyers.
“Anything in that $1 million to $2 million price point is going pretty quickly,” says Hendry.
For people looking for a bit more of a bargain, the Ogden metro, just north of Salt Lake City, is a little less expensive and was recently featured on our list of places where the number of homes for sale is growing the most right now. The number of listings in the Ogden area has roughly tripled over the past year.
Median listing price: $238,250 Median listing price per square foot: $152 Change in year-over-year price per square foot: -3.9%
Venturing outside of the West and South, the “Steel City” is the only Northeastern spot on our list.
Pittsburgh stands out on our list as a place with some of the smaller homes, with a median home size around 1,600 square feet. Combined with a price per square foot that’s about one-third less expensive than the national median, this means the price of a Pittsburgh home is quite a bit lower than in most other places.
This anchor of the Steel Belt didn’t see the same kind of pandemic-era price appreciation as others on the list. However, the overall housing slowdown seems to have pulled down prices anyway.
Buyers looking in the area can find a three-bedroom home in the South Side Flats neighborhood for $285,000. It recently underwent a $10,000 price reduction.
Median listing price: $345,899 Median listing price per square foot: $148 Change in year-over-year price per square foot: -3.6%
For the previous few metros on our list, there’s a quirk to how home price data is affected by the mix of homes for sale. The anomaly is the most pronounced in the Winston-Salem metro. While the median list price per square foot has dropped, overall prices in the metro are rising.
This is due to shifting buyer preference. As mortgage rates rose and buyer budgets shrunk, many buyers shied away from larger, more expensive homes. That left these properties on the market as the cheaper, smaller homes were more quickly scooped up. The bigger homes have been pulling up overall prices for the metro even though local real estate costs less than it did a year ago.
If you were to compare the median home list price in Winston-Salem with Pittsburgh, you’d see that the Winston-Salem price is about $100,000 more. But the median home listing in Winston-Salem is more than 500 square feet larger. So buyers get more space for their money.
A nearly 100-year-old, three-bedroom home about 10 minutes south of downtown Winston-Salem is listed now for $220,000, after a $9,000 price reduction.
Median listing price: $662,875 Median listing price per square foot: $340 Change in year-over-year price per square foot: -3.4%
Sacramento, California’s capital city, may be the most expensive of any on our list, with homes priced around 50% higher than the national average. But for California, Sacramento is cheap! The state’s median list price per square foot is more than 30% higher.
The city became a popular alternative to the pricier San Francisco Bay Area during the pandemic as buyers sought out more space for less money. But as companies have been calling workers back to their offices, the area isn’t as hot as it was during the pandemic. There has also been plenty of new construction in the area.
A two-bedroom townhome near downtown Sacramento can be picked up for a little under $500,000 right now.
Median listing price: $376,000 Median listing price per square foot: $205 Change in year-over-year price per square foot: -1.1%
The real estate market in the “Windy City” is really a tale of two cities, says Compass real estate agent Amy Duong Kim.
Chicago’s dense downtown should be thought of as one market, she says. The suburbs on the periphery, where about two-thirds of the metro residents live, should be thought of as another.
“In River North and Gold Coast and the other downtown neighborhoods, they were hit the hardest during COVID,” Duong Kim says. “Unfortunately, they haven’t bounced back yet.”
The listing data backs up her point about the two different markets of Chicago. Where the larger metro area is showing a 1.1% decline in price per square foot, the city of Chicago at the center of the metro is showing the list price per square foot is down just a little more than 4%.
This two-bedroom, one-bathroom condo in downtown Chicago is on the market for $299,000.
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Have you ever wondered what it would be like to have a million dollars?
The first thing that comes to mind might be the ability to purchase whatever you want, whenever you want. But do not let your imagination run wild just yet! There are many things beyond material goods that come with this kind of money.
We will dive into the life experiences that come with being independently wealthy. Plus, everyone will have a different number to be classified as independently wealthy.
You have probably heard that it is impossible to be rich and independent. While others truly believe they are capable of being wealthy.
Becoming financially independent might sound like an impossible goal, but with a little bit of hard work and determination, you are capable of reaching your dreams.
Independent wealth is a life state that you can have and maintain without having to rely on your job or family.
This post will help newbies become financially independent, so you will be able to live their best lives without any external pressures.
In the last few years, many people have taken up the idea of becoming wealthy on their own, without relying on a company or organization to make money. There are numerous ways in which one can become wealthy, but oftentimes it requires a great deal of time, effort, and dedication.
Let’s make sure you enjoy a life of independent wealth with these tips for success.
What Is Independently Wealthy?
Independent wealth is a term often used to describe people who are wealthy enough that their personal finances are not impacted by the economy.
These individuals have a certain level of financial independence, which can be accomplished in a variety of ways, including through saving, investing, or business ownership.
Financial Independence vs. Independently Wealthy
Financial Independence is when you are able to live a life of your choosing (with or without a job) and not need any support from external sources.
Independently wealthy is when individuals do not have to work another day and do not need financial support from any external sources.
Either way, you are in complete control of your money and not living paycheck to paycheck. It is possible to be financially independent without being independently wealthy.
To become independently wealthy, you need to have assets that generate income whether or not you are working.
The benefits of being independently wealthy
Many people believe that becoming independently wealthy is not just a pipe dream but is possible. There are many benefits to being rich, like being able to do anything you want with your money or help others in need.
The benefits of being independently wealthy are clear.
It is possible to achieve financial wealth, and the time and patience it takes to create such wealth are well worth it. Not only that, but those who amass great wealth can also create a powerful financial legacy for their loved ones.
Here are the benefits to enjoy the most:
You can freely pursue your passions without fear of having to conform to a certain type of lifestyle or do certain things in order to be successful.
Your mental and physical health will improve. There is less stress and more time to dedicate to your health.
You have a clear vision for the future. You know it is possible to reach your full potential.
You can experience time freedom.
There are very hardly any downsides to pursuing independent wealth. More often than not, you are the one blocking your path.
Misconceptions About Being Independently Wealthy
There are some misconceptions about what it means to be independently wealthy.
Though some may think that independently wealthy people must look a certain way or act in a certain way, this is not always the case. In fact, many of these people blend in with everyday society and go about their lives just like everyone else.
Furthermore, they are still human and have feelings; they simply have more money than most.
An independently wealthy person typically lives a comfortable life but nothing too showy. They drive nice cars that most people drive, that are reliable and affordable. They work hard and put their savings first always, so they can maintain their wealth over time.
You Don’t Need Millions
You don’t need to be born into a wealthy family or have millions of dollars to be financially independent.
It is possible to build your own wealth with consistency and time.
The amount you need depends on your current expenses and the number of people in your household.
Have All The Luxuries In Life
Wealth is relative and means different things to different people. People often think of flashy things when they think of rich people, but that is not always the case.
A person can be wealthy without having a lot of material possessions.
Money gives you options in life.
Signs You are Independently Wealthy
If you are able to support yourself with a portfolio of investments that pay for your lifestyle without having to work, you are considered to be independently wealthy. This typically means having a solid net worth and not needing to rely on a day job.
What qualifies as independently wealthy? Here are many signs that you may be independently wealthy including:
More free time
No bills to pay
No mortgage
Money saved in the bank
Practice random acts of kindness
You quit your day job.
More than anything, you have built yourself a nice cushion (AKA liquid net worth) and you are able to live off your savings.
You understand how to FI.
How to Become Independently Wealthy
There is no one-size-fits-all answer when it comes to becoming independently wealthy, but there are a few basic principles that hold true for most people.
The first is that money is a tool to be used, and should not be hoarded or worshipped.
Next, realizing wealth accumulation takes time and effort.
Lastly, it’s important to remember that financial independence is about more than just money – it’s about having the freedom to do what you want with your life.
Now, let’s dig into the steps to take to be independently wealthy.
#1 – Set Goals
Goal setting is a powerful tool that can be used to achieve anything you want in life.
By setting a specific date to achieve your goal, writing down what you need to do to achieve the goal, and taking action, you are well on your way to reaching your goals!
If you do not know where you want to go, then how can you use money as a tool to get you there.
Learn: How to set SMART financial goals.
#2 – Pay Yourself First
Pay yourself first is a financial concept that suggests you should save and invest most of your income before paying personal, living expenses. If you pay yourself first and don’t overspend, the money you save will be available for future use.
People find it difficult to save money because they tend to pay everybody else first, including bills, rent, and other necessities. By committing to “paying yourself first,” you make it a priority to put money away in savings or investments so you can cover your own costs down the road.
To become independently wealthy, you should start by saving at least 15% of your income.
Choose: one of our money saving challenges to kickstart your savings journey.
#3 – Increase Your Income
Increase your income in a few steps and move your life ahead. You can do this in one of three ways: find a higher paying job, start a side hustle, or create passive income.
Most people, look to increase their income as the best way to make money. This is definitely the fastest way to make more money. You can ask for a pay raise or look for another job that pays more.
Another option is starting a side hustle, which can be anything that doesn’t take up too much time and can be monetized. A simple way to bring in more money each week.
Passive income streams are income that does not require any effort from the individual who creates it. Passive income is generated by assets such as rental properties, stocks, or investments that produce a cash flow that is higher than the person’s expenses. This is a great way to diversity and increases your income at the same time.
Learn: how to make more money fast.
#4- Know Your Net Worth
Your new worth is a financial snapshot of your personal finances.
It will tell simply calculate your assets minus your liabilities to find your net worth.
Knowing your net worth is important, even if it’s negative. This number will give you an idea of how much debt you have and what assets you own. It can help you make better financial decisions in the future.
Knowing your net worth is important because it measures how wise with money you are. As you pay off debt and invest money into solid assets, your net worth will grow over time- so make sure you’re keeping track!
Figure out your net worth with Empower!
Empower Personal Wealth, LLC (“EPW”) compensates Money Bliss for new leads. Money Bliss is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.
#5 – Invest your Money
Investing in retirement and non-retirement funds is a way to finance your future. Though the investment strategy differs, both are considered to be asset investments because they provide you with a return on your money.
For way too many people, they shy away from investing which means they will never be able to become independently wealthy.
When it comes to investing for retirement, there are a variety of different options available. One popular option is to invest in a mutual fund. Mutual funds are collections of stocks, bonds, and other securities that are managed by a professional investment company. They offer investors the opportunity to buy into a diversified portfolio without having to purchase individual securities.
Another common retirement investment option is purchasing individual stocks or bonds. While this can be riskier than investing in mutual funds, it can also provide greater returns if done correctly.
Regardless of which option you choose, it’s important to start investing as early as possible. Compounding interest can make building wealth over time much easier.
Learn: how to invest in stocks for beginners
#6 – Educate Yourself on Personal Finance Topics
A great way to understand the complexities of personal finance is to educate yourself on how money works.
This can include learning about the following topics:
Budgeting/Finance Budgeting
Debt Management/Paying Off Debt
Investing
Retiring Early
Taxes
Income and Employment
Estate Planning (Wills, Trusts, and Estates)
Financial Freedom
This is one of the most important personal finance tips that I can give you. If you want to become a millionaire, you need to learn how money works. Period.
Check out: one of the top finance books.
#7- Stay Out of Debt
It might seem like common sense, but it is important to stay out of debt. In today’s world where credit cards are easily accessible and loans can be taken out without much thought, it is easy to find yourself in debt, and it can be difficult to get out of.
You have to make a plan to get out of debt and stay out of debt.
Until you have your debt paid in full, you will always be shackled by interest payments and unable to get much further ahead.
Learn: how to get out of debt.
#8 – Live Below Your Means
One of the most important things to understand is you must spend less than you make.
Live below your means is a phrase that was coined in the United States during the Great Depression and describes how it is possible to live on less than you earn. Live below your means refers to living on less than you make.
Living below your means is a great way to become independently wealthy.
You should spend money on the things that make your life more comfortable and enjoyable, rather than frivolous things that you don’t need.
Find out: how to live below your means.
#9 – Minimize Lifestyle Creep
Lifestyle creep can often be a subtle and dangerous thing.
As your income goes up, you may find yourself spending more money in other areas like vacations or entertainment. Most people do not even recognize it until it is too late.
Minimize lifestyle creep by setting specific boundaries and sticking to them.
However, it’s important to remember that you don’t need to completely avoid lifestyle creep and live on the same budget forever – you just want to make sure that your expenses are rising much slower than your income is rising. This will give you the best chance of reaching your long-term goals.
Learn: the signs to watch for lifestyle creep.
#10 – Think Long Term
The key to wealth is thinking long-term. When you have a clear vision for the future and are able to plan accordingly, you set yourself up for success both financially and in other areas of your life.
If you want to be successful in the long term, you must study and learn as much as you can.
Furthermore, if you’re looking to amass wealth over a period of years or decades, playing the long game is your best bet.
There will be ups and downs along the way, but with patience and perseverance, you can achieve great things.
Understand: the difference between rich and wealthy
How to Know if You’re Independently Wealthy?
The first step to knowing if you are independently wealthy is to determine your net worth.
There are a few signs that can help you determine if you are independently wealthy.
For one, you have enough money to cover all of your expenses without having to rely on anyone else. Additionally, being independently wealthy means that you can afford anything and everything you want without needing to rely on any type of income – whether it be passive or active.
You can go out and buy something just because you want to and not worry about the price tag.
Reasons to Strive for Becoming Independently Wealthy
There are many reasons to strive for independent wealth.
Achieving independent wealth is not impossible. Though it takes time, hard work, and patience, any person can do it by following a plan and taking specific steps.
Reason #1 – Enjoy Time Freedom
It’s a very rewarding feeling to be financially independent and know you’ll never have to work again.
You’ll gain more control of your life and finances, which will allow you more freedom to do what you want when you want.
This is something very few people actually get to enjoy.
Reason #2 – Less Stress
One of the main reasons people want to become independently wealthy is to avoid the stress that comes with full-time jobs.
Wealth can provide a sense of freedom and control that reduces stress and allows people to live happier lives.
Financial independence is a goal that many people strive for and when they achieve it, they find that the stresses of money-related problems are no longer a part of their lives. While achieving financial independence doesn’t mean all stress goes away, it does help with the stresses of not having enough money
Reason #3 – More Control
When you become financially independent, you gain a sense of control over your life and your finances. You are no longer at the mercy of others to provide for you or make decisions about your money. There are many ways to gain control over your finances, including creating a budget, investing in yourself, and automating your finances.
There are a lot of benefits to having more control over your finances.
One of the most important is that you can set money aside for emergencies without having to rely on credit cards. This means you won’t have as much stress if something unexpected comes up, and you’ll be less likely to fall into debt.
In fact, check out these billionaire morning routines to find quick success.
How Much Do You Need to Become Independently Wealthy?
It is difficult to determine how much money you would need to become independently wealthy because the amount of wealth that different people have requires an estimate.
For example, someone who earns $50,000 per year and has $100,000 in savings would be considered financially independent. However, they would need investable assets to cover their living expenses to be independently wealthy. Many experts say 20x your income, so approximately a million dollars.
There is no exact amount of how much money should someone have to be considered wealthy.
Everyone’s situation will be unique to them. Thus, your number will be different than mine as well as everyone around you.
Becoming independently wealthy does not happen overnight. It takes work, dedication, and a lot of patience. The first step to becoming an independent millionaire is by saving money in the bank account; this is the most important step in becoming an independent millionaire.
How to Become Wealthy in 5 Years?
Independent wealth means having the freedom to make choices based on what you want, not what you need. And that’s a goal worth striving for.
This is something you can achieve in 5 years or even 10 years.
In order to become wealthy in five years, the first step is to get a good education in personal finance.
In addition, one must work hard and avoid making dumb decisions. In order to become wealthy, you should be able to prioritize your goals and work towards them instead of wasting time on distractions.
There are many ways to become independently wealthy, but it takes time and patience to build up your assets.
You are in control of your destiny, so you must be willing to save more money and spend less money.
We gave you tips to make it happen. You must take action to make it a reality.
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