Stories about time travel are compelling because there is so much at stake. Can the time travelers return to their original timeline? Will they change the course of history? Can they prevent the impending apocalypse?
That’s why so many people love watching time travel TV series. Someone on a popular internet forum asked other users for recommendations of “fun, light-hearted time travel shows.” Sci-fi lovers flooded the thread with these favorites.
1. Timeless (2016-2018)
When a team made up of a historian, a sergeant, and a computer engineer join forces to hunt down a time-traveling terrorist, they must make sure to be careful about what elements of the past they choose to alter to save the world and the future.
1. Timeless (2016-2018)
This exciting time travel show brings the quirky cast through many critical historical moments, like Nazi Germany and the Battle of the Alamo in Texas.
2. Quantum Leap (1989-1993)
When one of his experiments goes sideways, a scientist finds himself trapped in the past, and his new predicament forces him to jump into different people’s bodies.
2. Quantum Leap (1989-1993)
Of course, this puts the scientist in several sticky situations that he must use his sharp wits to make it through. At the same time, he alters fate as he makes decisions in historic people’s bodies.
3. Doctor Who (2005-)
This classic British sci-fi show has made fans smile, gasp, and laugh for the past eighteen years. The show follows the Doctor, an alien who chooses a companion from Earth to accompany him on adventures through space and time in his telephone-booth-shaped TARDIS.
3. Doctor Who (2005-)
My favorite episode is when the Doctor and his companion Amy Pond (Karen Gillan), travel back in time to meet Vincent Van Gogh.
4. Future Man (2017-2020)
A young and unaccomplished man named Josh (Josh Hutchinson) spends most of his time playing video games. A strange phenomenon is unleashed when he beats a game no other person has ever completed.
4. Future Man (2017-2020)
Can Josh save the world from these nefarious visitors? First, he must gather a team to help him travel through time in the hopes of eventually ridding the world of this new evil force.
5. Russian Doll (2019-)
When Nadia (Natasha Lyonne) dies tragically one night after her best friend’s party, she doesn’t die but instead restarts the night of the party over again.
5. Russian Doll (2019-)
This cycle continues as Nadia dies and relives the night over and over again, and she soon tries her hardest to uncover what is going on and why she keeps getting sent back to relive the same night.
6. Legends of Tomorrow (2016-2022)
Superheroes and time travel? Sign me up! This DC show follows a rogue time traveler who realizes the world can only be saved if heroes and villains work together.
6. Legends of Tomorrow (2016-2022)
Soon, he creates a ragtag team of heroes and villains who go on missions through time to ensure supervillains don’t destroy the fabric of time itself.
7. The Umbrella Academy (2019-)
This creative and action-packed show is about superpowers, time travel, and childhood trauma. When a cold and cruel billionaire adopts seven children with strange powers, their new father forces them to work together to defeat villains in their city.
7. The Umbrella Academy (2019-)
But when the kids grow up, they must grapple with the implications of their powers. One of the siblings accidentally gets trapped in the future and eventually returns to the past to bring the team back together and prevent the apocalypse.
This show is complex and filled with interesting characters, making this a must-watch for any sci-fi lovers.
8. Outlander (2014-)
While this show tends to get darker and more serious than the others on the list, there are plenty of light and heartwarming moments.
8. Outlander (2014-)
When a young British World War II nurse visits some ruins on a trip to Scotland, she mysteriously travels back to 1743. There, she joins a Scottish family fighting for their freedom against the British. Will her attempts to return to her timeline come to fruition, or will she be stuck in the past forever?
9. Sliders (1995-2000)
This exciting show follows a group of people who slide between parallel universes using a futuristic portal device. However, when the device malfunctions, they become trapped in a cycle that they hope will one day lead them home to their home universe.
9. Sliders (1995-2000)
The group must hop through a portal into a new alternate universe every time the timer runs out, giving them a time limit on how long they can stay. They will be trapped in a strange world for decades if they don’t make it.
10. Life on Mars (2006-2007)
When a police officer in 2006 gets hit by a car, he wakes up in 1973 to find that he is still a police officer but in a lower-ranking position.
10. Life on Mars (2006-2007)
As the policeman grapples with his newfound reality, viewers wonder whether he truly traveled back in time or if this is all a dream state induced by a coma.
Who is one actress you can never stand watching, no matter their role? After polling the internet, these were the top-voted actresses that people couldn’t stand watching.
10 Actresses People Despise Watching Regardless of Their Role
These 7 Celebrities are Genuinely Good People
We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
These 10 Activities Are an Immediate Red Flag
Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth
We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
Just 1 in 10 Americans still choose to itemize their tax deductions. Itemized deductions require more paperwork and record-keeping – but if you had high medical bills, state and local taxes, and sizable interest payments last year, itemizing could save you big bucks on your taxes.
The Federal Trade Commission and the Florida Attorney General are sending refunds totaling more than $540,000 to consumers nationwide who were defrauded by Life Management Services of Orange County, LLC, and related companies who tricked them into paying for worthless credit card interest rate reduction and debt elimination programs. The average check amount is $117.
The FTC is sending checks to more than 4,600 consumers. Recipients should cash their checks within 90 days, as indicated on the check. Consumers who have questions about their refunds should contact the refund administrator, JND Legal Administration, at 1-877-381-0342, or visit the FTC website to view frequently asked questions about the refund process. The Commission never requires people to pay money or provide account information to get a refund.
According to the FTC’s June 2016 complaint, brought jointly with the Florida Attorney General, the Life Management defendants bombarded consumers with illegal robocalls trying to sell them bogus credit card interest rate reduction services. The defendants made phony guarantees about lowering consumers’ credit card interest rates and saving them thousands of dollars in interest payments. Customers made up-front payments but rarely, if ever, got the promised services. The defendants also pitched a bogus credit card debt elimination service, falsely claiming that they could access funds from the government or from a lawsuit against the credit card industry to pay off consumers’ credit card debt.
A court order announced in June 2019 as part of a law enforcement effort to halt illegal robocalls partially settled the Commission’s complaint by permanently barring 17 Life Management defendants from engaging in telemarketing and debt relief services and requiring them to pay money to provide refunds to defrauded consumers. The district court awarded the FTC and Florida summary judgment against the scheme’s ringleader, Kevin Guice, in December 2018, and the United States Court of Appeals for the Eleventh Circuit affirmed the district court’s judgment in March 2022.
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The Commission’s interactive dashboards for refund data provide a state-by-state breakdown of refunds in FTC cases. In 2022, Commission actions led to more than $392 million in refunds to consumers across the country.
The refunds being sent today are the result of a settlement resolved before the U.S. Supreme Court ruled in 2021 that the Commission lacks authority under Section 13(b) to seek monetary relief in federal court. Because of that ruling, the Commission no longer has its strongest tool to return money to consumers, and it will become harder to provide refunds to consumers harmed by deceptive and unfair conduct. The Commission has urged Congress to restore the Commission’s ability to get money back for consumers.
Source
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
A new lender has entered the mortgage space, but this one’s a little unique, and its offerings are too.
You see, they’re a “marketplace lender,” otherwise known as a peer-to-peer lender, meaning everyday investors can provide funds to borrowers seeking mortgages.
The lender in question, San Francisco-based Social Finance, or “SoFi” for short, says individuals and institutional investors have the ability to “create positive social impact on the communities they care about while earning compelling rates of return.”
In other words, you can be the mortgage lender and make some money in the process. Oh yeah, and earn some good karma if you think peer-to-peer lending is an act of goodwill.
Anyway, the company has already doled out over $1 billion in student loans and now has its sights set on the mortgage market, which some seem to think has become too restrictive. Just ask Ben Bernanke…
The idea here is to target early-stage professionals (recent graduates) who need help financing their home purchases (they also offer refinancing). They are known as “HENRYs,” or High Earners, Not Rich Yet.
Basically, they have the income, but they may not have the savings for a down payment yet, thanks to student loan debt and a lack of earnings history.
SoFi Offers Interest-Only and 10% Down Mortgages with No MI
Aside from appealing to Millennials
And being a tech-driven mortgage disruptor
SoFi also offers specialty home loans you won’t find everywhere else
Like interest-only products and low-down payment mortgages without MI
I dug into their website and found some interesting stuff. For one, they offer interest-only mortgages, which are considered non-QM and somewhat harder to come by these days.
Additionally, they offer loans with as little as 10% down without mortgage insurance, which again is slightly unconventional but probably just collected via a higher interest rate.
Still, they offer IO mortgages with loan amounts as high as $3 million, meaning they’re a jumbo peer-to-peer non-QM mortgage lender.
Per their website, they currently offer a 5/1 ARM with a 10-year interest-only option, a 7/1 ARM, and a 30-year fixed.
SoFi Home Improvement Loans
They also offer home renovation loans
With online approval to funding in just 7 days on average
The loans are unsecured so your home equity isn’t involved
SoFi doesn’t charge any closing costs and payments are fixed
The company also recently launched a line of home improvement loans for those looking to do renovations on an existing property.
They do not charge origination fees or other closing costs, nor do they charge for a home appraisal.
Additionally, you can borrow up to $100,000 without any home equity. To that end, they are more like personal loans than they are HELOCs.
Borrowers can take out amounts ranging from $5,000 to $100,000 depending on their needs.
At last glance, rates ranged from 6.58% APR to 13.62%, assuming you use autopay to make monthly payments.
And terms varied from just three years to seven years and potentially longer.
They advertise fixed rates, but you might have the option of a variable rate as well.
SoFi Mortgage Rates Seem Pretty Competitive
They seem to offer pretty attractive mortgage rates
Relative to the competition
And because SoFi doesn’t charge origination fees
The rates might even be cheaper than they look
I took a look at SoFi mortgage rates on June 1st, 2018 and they appeared to be fairly competitive relative to what else is out there.
The assumptions were for an 80% loan-to-value ratio, which means 20% down payment or 20% in existing home equity. If you’re putting down less or have less equity, expect a higher interest rate.
Additionally, the 5/1 ARM assumes a 75% LTV, so you need at least 25% equity or down payment.
Sample mortgage rates from June 1st, 2018 were as follows:
– 4.375% for the 5/1 ARM with an interest-only option
– 3.875% for the 7/1 ARM
– 4.125% for the 15-year fixed
– 4.25% for the 30-year fixed
They seem pretty close to what traditional lenders are offering these days, though keep in mind that SoFi doesn’t charge loan origination fees, similar to Eave, so you need to factor in the lower fees as well, which can be a game-changer.
SoFi’s Loan Underwriting Is Supposedly Quick and Easy
SoFi is attempting to speed up the home loan process
By banking on technology
They say they can close a mortgage in less than 21 days
Versus the industry average of 30-45 days
Are you an ambitious professional? If so, you might be the right fit for SoFi. Even more intriguing than their product offerings is their underwriting process.
SoFi claims that they can fund a mortgage in less than 21 days, as opposed to the industry average of 30-45 days. And they promise not to ask for “useless details.”
Part of their speediness be related to the fact that they use AVMs instead of appraisals for loan approval, which can certainly save some time. However, they eventually conduct an in-person appraisal as well.
They also ask applicants to apply and upload documents online, which allows them to complete loan approvals complete with automated valuations in less than 48 hours.
SoFi Cares Where You Went to School and What You Majored In
Because of their student loan background
SoFi cares where you went to school
And what you studied while you were there
This is probably a means to keep defaults low by only going after applicants with bright futures
Of course, there is a major caveat. In order to qualify for a SoFi mortgage, you need to have graduated from a selection of Title IV accredited universities or graduate programs.
This might have something to do with the fact that they were a student loan lender before jumping into mortgages.
Not sure which schools/degrees qualify, but I think the expectation is that even if you aren’t making much money now, you’re expected to be in the near future.
I went through the beginning of the loan application process online and noticed that only certain degrees were listed. It’s unclear if it’s an exhaustive list, but they certainly take schooling seriously.
However, SoFi refers to their debt-to-income limits “flexible,” so you might be okay if income is a little light as long as you went to Stanford.
They also determine loan eligibility by credit history and employment status, and require that applicants be at least the age of majority in their state. So I take that to mean no child doctors. Sorry Doogie.
At the moment, SoFi mortgages are only available in California, DC, New Jersey, North Carolina, Pennsylvania, Texas, and Washington on owner-occupied properties, but they’re expected to reach other states soon.
For the record, if you want to become an investor in SoFi mortgages, you need to be an accredited investor, which generally means you need to have a net worth of over $1 million (excluding your primary residence) or make $200k per year.
So no, not every Tom, Dick, and Harry can become an individual mortgage lender, but those with money can.
It’ll be interesting to see if P2P lending gets more popular in the mortgage world as prospective homeowners look beyond traditional banks and lenders for financing. Stay tuned.
SoFi Is Offering Free Avocado Toast to Mortgage Customers
Back in 2017 they ran an avocado toast promotion
To make it really clear who they were targeting
Young prospective home buyers
It was a play on Millennials love for the culinary treat
This just in…in a bid to be the silliest mortgage lender out there, and perhaps appeal to disgruntled Millennials, SoFi is offering free avocado toast to customers who take out a purchase mortgage with the company in July 2017.
While it’s hardly a reason to buy a home, or take out a mortgage with SoFi specifically, it is kind of funny.
The back story is that Millennials have been accused of wasting all their money on trendy foodie things like avocado toast, dashing their hopes of homeownership.
To combat this myth, or perhaps reinforce it, SoFi is giving away a month’s worth of avocado toast to its customers for a limited time, delivered straight to their new door.
Curious how much a month’s worth is? Apparently three shipments of bread and avocados. Oh, and you get to select gluten-free or regular bread, but you have to toast it yourself…
Robert Kiyosaki, Robert Allen, and Loral Langemeier would have you believe that in order to get rich all you need to do is throw your money into real estate, sit back, and let the profits come. It’s not that simple. There’s risk involved. You have to know what you’re doing.
Jon forwarded a link to what he calls “a personal finance trainwreck”. He writes: “If this guy is for real (and there appears to be some suspicion about that) then, wow. Unbelievable.” Casey at iamfacingforeclosure.com thought he could make a killing at real estate. He wanted to reach Financial Independence quickly.
I’m a 24-year-old aspiring real estate investor from Sacramento, California. After going to few seminars I bought eight houses in eight months across four states with no money down. I fixed and sold two and then ran out of cash. I am now facing foreclosure on six five houses. I’m learning my lessons, finding solutions and blogging about it.
Casey’s story is fascinating. Here’s a young man who read Kiyosaki and Allen, and who is trying to find riches by following their advice. He’s trying to make money quickly, and is struggling, but is willing to share the gory details. In one entry, Casey writes that he and his wife are running out of money. They’ve been living on credit cards, which are now maxed out. He’s afraid he might have to get a job.
I can’t just do a job. I do not want to give up my dream of financial independence. If I get a full-time job, I will continue doing my business and investing on the side. Finding time to do both will be hard (tried it before many times). If I must do that, I will. But it will probably take much longer to reach my goals.
An hourly job has limited earnings potential. Getting a 3% raise every year is not my idea of upwardly mobile. Making $25/hour writing code seems like a waste of time when I can sell a real estate contract for $5,000 after doing 5 hours of work = that’s $1000/hour!
So if I can work really hard for one month and find just 2 deals, I can make $10,000. That’s much better return on my time.
Casey received many responses (the comments are the best part of the site), some helpful, some angry, some flabbergasted. Some are all of these at once.
You’ve just nailed the difference between fantasy and reality. […] You are in the process of learning the difference between GAMBLING and INVESTING. Everything you’ve done so far has been gambling. Investing requires that one balance the risk with the rewards, diversify, and be dedicated. Some investments will fail, but a wise investor won’t have too much tied up in any single thing (like real estate purchased on a guru-drunken binge). Investments are made with money that one could stand to lose. Investing is not done by leveraging oneself up to the eyeballs and beyond, hoping for a miracle.
You can see television interviews with Casey (choose “House Flipper Part One” or “House Flipper Part Two” from the menu in the middle of the page). His story is also featured in two articles from the San Francisco Chronicle:
Langemeier, Kiyosaki, and Allen are inspirational. Some of their ideas may even be useful. (Prlinkbiz — who I’m sure will have something to say about this entry — is a huge Kiyosaki fan, and seems to be making his principles work for her.) But these folks preach that their methods are sure-fire ways to wealth and success. They overpromise in an attempt to sell books and seminars. Langemeier says she’s created 200 millionaires, and that she can make one out of anybody. Yet I can find no independent evidence that this has occurred. I’m not saying that it hasn’t happened, but I’m skeptical.
The only sure-fire way to wealth and success is to spend less than you earn, to save the difference, and to invest that savings for growth.
Follow-Up on Casey Serin, the Man Who Would Be Rich
Casey stopped by Get Rich Slowly yesterday and had this to say:
I don’t see why a person CANNOT get rich quick… but still do it in an honest and safe way. Whenever you hear “Get Rich Quick” you think somethhing bad.
And yes, if you read my story, it DOES sound like i’m just a big screw-up. AND YES.. I did do some stuff that I am NOT proud of (liar loans). However, I am learning my lessons and hoping to make a comeback.
I am determined to find a way to make an honest buck in real estate in a down market. My mentor “Rich Dad” did it. It took him only about 10 years. Now he has 20K+/mo in PASSIVE income from REAL ESTATE.
Is 10 years too quick? What about 5 years?
That’s an interesting question. How quick is too quick?
It’s not impossible to get rich quickly — the day before I wrote about Casey, I shared advice on how to handle sudden wealth — but it’s dangerous to focus on quick wealth as a goal. I’m convinced that people get rich quickly by chance, not by intention. If get rich quick schemes worked, more people would do them. You’d read and hear documented tales of success. But they don’t work. They’re mostly scams designed to transfer money from saps like Casey into the hands of others.
My advice for Casey is this:
If you have a burning passion to make these sorts of plans succeed, then pursue them with only a portion of your finances. Follow tried and true personal finance wisdom with most of your money. Take 90% of what you earn, and do the boring stuff with it: pay off debt, start an emergency fund, invest for retirement. You are so young right now, that if you would invest just $5000 each year until you’re 50, you could retire then as a millionaire. (Assuming 10% returns.) This is with almost no risk. Why try to get rich all at once? Why not ride it out?
If you’re dead-set on trying to get rich quickly, then don’t use all of your capital to do so. Do the safe stuff with 90% of your money. Save the remaining 10% to make real estate purchases. If you strike it rich, great. But if you don’t, then at least you haven’t mortgaged your future. This isn’t ideal for most people, but you have the drive and desire, so it gives you something to play with. But this means that you’ll have to work in order to meet your goals.
I don’t want to kick Casey’s dreams. Dreams are good, and I think people should pursue them with gusto. Too many people make a practice of telling others why their plans won’t work instead of lending support. But when your dreams are at odds with reality, you need to re-evaluate.
$2 Million in Debt in Two Years
Casey Serin of I Am Facing Foreclosure held a two-hour conference call to take questions from readers and to explain his situation. I didn’t hear the call, but I did read the entire transcript (part one, part two).
For those of you unfamiliar with him, Casey Serin is the Napoleon Dynamite of real estate investing. He took real estate seminars from Russ Whitney and read books by Carleton Sheets. He bought into the “get rich quick” mentality. In October, the San Francisco Gate wrote:
After spending a year and upward of $15,000 (borrowed on credit cards) going to real estate seminars and buying home education courses from everyone from Russ Whitney to Bruce Norris and, of course, the aforementioned Robert “Rich Dad, Poor Dad” Kiyosaki, Serin embarked on his brilliant career as a real estate flopper, er, flipper. “I wanted to move toward financial independence,” he told me by phone from his home in Sacramento, referring to “passive income,” a key tenet of the “Rich Dad, Poor Dad” scriptures (“Don’t work for money, allow money to work for you”).
Most people take these seminars and read these books but never do anything. Serin heeded the advice of these gurus. In his own words, he “bought 8 houses in 8 months in 4 states with no money down looking to fix ‘n flip.” He bought these houses between October 2005 and May 2006, after the U.S. real estate market had already begun to decline. He ended up $2.2 million in debt, and he’s been blogging about it ever since.
Serin’s story bugs a lot of people. He made many mistakes. He lied on his loan applications (and continues to rationalize this by saying it’s “industry standard policy”). He exhibits no regret. He continues to live a normal (even lavish) lifestyle despite being deep in debt. He refuses to pay anything on his debt because he doesn’t think it’ll make any difference. He refuses to take a job. He doesn’t take any action to improve his situation. He seems to be a publicity whore. Despite his failures, he believes that he can still get rich quick in real estate if he only finds some sweet deals.
I don’t get angry at Serin. I just think he’s dumb. He continues to pursue a way of life that is just not tenable. He’s trying to bypass the “hard work” portion of the American Dream. I consider his story a stark counterpoint to my message of “get rich slowly”. (Trivia: Casey went to high school with Ramit of I Will Teach You to Be Rich. The former tried to get rich quickly and failed. The latter teaches sensible entrepreneurship and personal finance advice, and has succeeded.)
As I said, I read the entire transcript of Serin’s two-hour conference call. It’s an amazing glimpse into the mind of a young man who wants wealth now. Since I know most people don’t have the time to wade through the entire thing, I’ve culled the best parts to share here.
The first thing that strikes you when reading Serin’s stuff is that he doesn’t seem to have learned his lesson. He’s two million dollars in debt, but he’s still convinced that there’s a quick fix for this mess.
Besides real estate, I’m also looking at other opportunities. With this exposure I’ve had, I’ve made a lot of interesting contacts in different industries, not just real estate. I’m talking with a gentleman in Southern California who’s a silver broker, for example. The silver and gold and precious metal market right now is on the rise, and whenever there’s turbulence, or any kind of a war, or anything crazy with the economy, that’s a good place to put your money. I’m definitely looking at that. I’m looking at stocks, but individual stocks, not mutual funds — the performers, the companies that are about to take off, that you’re able to make some money; for example, with penny stocks.
I want to mail Serin a box of personal finance books. I want to send him Dave Ramsey, Your Money or Your Life, the words of John Bogle. I want him to read real personal finance advice that works. But I’m afraid the books would go unread. (Does anyone have his address or know how to get it? Maybe I really will send him some personal finance books.)
At times Serin seems to have learned something. Regarding “no money down” deals, he says:
If I was putting my own cash down, I would have been a lot more careful. That’s what happens when you have a real down payment. Anybody out there who’s looking to do a no money down deal, I say, you have to be careful. Don’t treat the no money down as just a free deal for you.
But other times it seems he hasn’t learned a thing:
I love those no doc loans, they’re the best because you’re never stating anything so no one can ever go back and say you were lying on your application.
One caller tried to explain the concept of “buy low, sell high” to Serin, but he didn’t want to hear it.
CS: Well, you know, if you’re going to do flipping in a down market, here’s the biggest thing. Buying is going to be easy. There’s tons of people giving houses away, including myself. You come to me; I’ll give you my houses away. Just take them over, or whatever; save me from foreclosure. So, buying is not going to be the hard part. Selling is the tough part. You have to get really good at selling your properties, and in a down market, you probably don’t want to buy anything that’s not a first-time-buyer home. […] SC2K2: I just can’t handle how brainwashed you’ve been by all those seminars. CS: Oh, yeah? SC2K2: The way you make money in a down market, is you wait for the prices to bottom; you buy in paying very little; and then you sell when they’ve gone way up. Yeah, your Rich Dad probably — CS: That’s the long-term strategy. Are you saying you can’t do quick flips on the way down? SC2K2: You know, Casey, there’s no way you would be able to handle quick flips.
Serin isn’t interested in a long-term strategy. He wants his money now. He doesn’t see that this is precisely where he’s going wrong. While he’s focused on quick riches, he’s neglecting basic personal finance. For example:
I thought at the beginning it would be such an awesome story, a comeback story and show so much success to be able to pay everything back, but at the same time I think I had a bit of a wishful thinking going on, because I didn’t realize when I first started what kind of a hole I was in. The hole’s so big that at this point, I’m really out of options.
Yeah, but here’s what’s going to happen. I pay a credit card — even fifty bucks — that doesn’t do anything to the collection process. Here’s what happens: it’s going to go and get discharged, and then they’re going to try to sue me and try to get that money. So that fifty bucks could have been used better in something where I can actually make money, perhaps doing another deal —
And:
GDS: What’s your FICO now? CS: I actually don’t know because I haven’t logged into Washington Mutual in a while and I probably should have done that before this call, but last time I checked it was in the high 400’s, 490 I believe or something along those lines. It might be lower now because I’m going to have two official foreclosures showing up on my record any time. GDS: Well, it doesn’t go below 450, so it doesn’t get much — CS: It might be interesting to see if I might be a person that actually gets a 450 FICO score. I might be one of the few amongst some of my friends. I’m hoping other people don’t do the same thing I did.
The end of the conference call is the best part. A caller named Nacho tries to push Serin to think about his situation, about the things he’s done.
CS: Not everyone’s going to be successful and self-employed. But don’t you know self-employed doctors or lawyers or successful realtors or anybody who doesn’t have a W-2 but still makes money? It’s not like W-2’s the only… NACHO: But you haven’t been successful! So isn’t it time to try something else? Supplement your side jobs with a real job. CS: Well, you know, I never said I’m not going to get one. I’m definitely considering that, and since I do still have money coming in through some of those other sources, it allows me to stay flexible so I can still kind of be in real estate a little bit, and other opportunities. NACHO: Do you understand that the real estate market is tanking? Do you have a grasp of that? CS: Oh, yeah. That’s why I’m looking at other investing opportunities, not just real estate. NACHO: And do you understand that you bought in at the worst possible time? You do understand that, right? CS: It’s not like you can’t make money in a down market. My local Rich Dad, he made his fortune in the last downturn in California. But of course he had a lot more experience. NACHO: Did he have decent credit? Was he able to secure loans? CS: Well, he could secure loans. He had money partners. He had mentors. See, I kind of started off without any mentors guiding me, and that’s kind of one of my problems. And I didn’t have any construction experience. NACHO: You know what, Casey? I don’t think mentors is your problem. I think you’ve got enough with these guru mentors. I think that that’s the last thing you need. What you need is a swift kick in the ass, from somebody who’s going to tell you the truth. Seriously. Someone who’s going to tell you the truth. CS: I appreciate you being upfront and giving me a little dose of reality, as you said. NACHO: Well, that’s how I roll. I’m always trying to keep it real. I’m just trying to let you know, man, that you need to start looking at things differently. You’ve been going a certain way and it’s not working out for you, and you really need to change the way you’re viewing life. CS: Well, I appreciate it. NACHO: Because everybody that you owe money to is going to get shafted, and then, in turn, taxpayers are going to have to pay — you know, foot the bill. NACHO: Are you worried about going to jail? CS: I’ve already kind of addressed it, but the thing is, if I live my life in fear, what good is that going to do? NACHO: And you don’t think that you deserve to go? You don’t think that what you did was basic thievery? CS: Well, the thing is I wasn’t out to rob banks, I was out to make a business, and I screwed up. NACHO: But Casey, you got everything fraudulently. Come on, you knew in your heart that that was the wrong thing to do. CS: Part of me was thinking that maybe I shouldn’t be doing stated income loans, because even though everyone seems to be OKAY with it, I had a little bit of a gut instinct. I should have listened to it; you’re right. NACHO: And you understand that when you do things wrong like that, sometimes you have to pay the piper? CS: Oh, yeah. And do you think I’m paying the piper? NACHO: No, not yet. Not by any means, no. CS: You don’t think that all the financial stress and the issues I’m going through is not enough? NACHO: Absolutely not, Casey. I think you should be out there working your ass off — two jobs if necessary — paying five bucks a month on every single bill if that’s what it takes to pay this stuff down. I think you should be calling your creditors and making some sort of payment arrangement for you to — CS: You know what? Check this out; put yourself in my shoes. Even if I get three or five or ten jobs right now I’m not going to be able to catch all my loans up, so they’re going to go to collections, and they’re going to start suing me. So if the only good thing I can really do right now is bankruptcy protection or refinance all those loans. NACHO: If you pay five dollars a month on any bill, they can’t send it to collection, Casey, do you understand that? CS: Sure, they can. NACHO: No, they can’t. CS: If I don’t pay the full monthly payment — I can’t just keep letting them go… That means I can just pay a dollar on all my loans and they’ll just keeping indefinitely. They’re not going to do that. NACHO: I’m not talking about the foreclosure loans, I’m talking about the credit card bills. CS: Even the credit cards. NACHO: Casey, you have to do something to try and right this wrong. Who’s the guy who has the blog – I am [$334,442 in unsecured debt. I am 23. Will I make it ?] dollars, whatever the hell it is, in debt. CS: Yeah, the guy eating Ramen and stuff. Yeah, he’s eating Top Ramen; he’s doing all this other stuff. NACHO: He’s doing the right things. If you would do those things, people would be behind you. People would be giving you suggestions and telling you what to do. Do you understand that? CS: Well, you might have a good point there. But I wonder if that guy’s really for real, though. Do you think a person can survive on Top Ramen for six months? NACHO: Oh, yeah. Sure. CS: Do you think he can eat that crap and still be healthy and still be safe? NACHO: Yeah, throw some vegetables in there. Casey, the last thing you need to worry about right now, seriously, is eating your vegan — your mildly vegan — seriously, you throw some vegetables and a little bit of whatever, some chicken in the Top Ramen, and it’s fine. Have some beans and rice; that’s fine. Buy a big-ass bag of beans and a big-ass bag of rice and cook it up. Have oatmeal for breakfast —
Casey Serin may or may not be a good guy. I can’t tell. He seems likeable enough. But he has succumbed to the idea that the best way to make money is through tricks and games. I’m not saying that you have to be a wage slave all your life in order to get money to save for retirement. But there are clear, safe paths to wealth and happiness. They take time. They take effort. My goal is explore these paths with you. It’s too bad Casey’s not along for the journey.
Historically, mortgage rates were impacted by World War II, the oil embargo in the 1970s and 1980s, the 2007 housing market crash, and Brexit.
4. Bond prices
As bond prices go up, mortgage rates go down. And if bond prices go down, mortgage rates will increase. Ten-year Treasury rates also impact lenders’ interest rate, with mortgage rates rising or falling depending on demand.
Generally, when Americans are feeling spooked by the economy, they invest more in bonds. Because yields are considered safer assets, yields will go down. If Americans are feeling more positive, they will invest more money in stocks. While stocks tend to offer a higher rate of return, they also pose a greater risk of loss.
5. Property type
Lenders typically judge mortgage rates on your physical attachment to a property, not just on your financial investment. If a property is your primary residence, for instance, you are more likely to prioritize your monthly payments there, even if you get into trouble financially. Payments on your vacation or investment property may be less of a priority. In other words, some home loans come with a higher risk for lenders and, therefore, they charge a higher mortgage rate.
Over the past few years a Greek real-estate boom has gained momentum as hard times have taken prices down. So, news that Chinese buyers are maxing out their investments comes as no surprise.
Taking advantage of Greece’s “Golden Visa” program, Chinese and other non-EU investors can attain residence permits to Greece and the greater EU area, if they only invest €250,000 euro in real estate.
According to Carrie Law, who is the CEO of Juwai.com, the property portal of choice for Chinese consumers, the number of Greece property requests has quadrupled over the last few months. In fact, Chinese buying inquiries increased by 137.5 percent in the third quarter alone, according to Law.
At the other end of the spectrum, Greek real estate agents are now keen to capitalize on the boom in Chinese investment. China worldwide real-estate investment reached $119 plus billions in 2017, and 2018’s figures are now well past $123 billion. And where Greece is concerned, it’s not only the Chinese who are focused on potential boom markets. This Forbes report spotlights Germany, Greece, Cyprus, and Malta as European countries with immense potential. Market expert Panos Mourdoukoutas also points to the added bonus of “Citizenship” for foreigners who buy properties tied to such visa programs.
In addition, a recent study by Arbitrage Real Estate showed that major investment groups such as Apollo Global Management, PIMCO and Bain Capital had in their non-performing loan portfolios, some 140 Greek hotel properties valued at over 282 million euros. According to the news from GTP, Yannis Orfanos, an investment management executive at Arbitrage is cited saying:
“Based on current data, 75 percent of hotel exposures secured by real estate collateral, either due to size and location or due to poor quality and need of renovations, do not interest large hotel chains or international investors in the sector. These are, however, an opportunity for certain international travel agents and domestic unit managers seeking quality 3-star hotels, and generally larger hotels in popular up-and-coming tourist destinations.”
Finally, property brokers Tranio and the Bank of Greece have provided amplification of Greece’s newfound popularity with investors. According to the brokerage firm, the Bank of Greece report on the record number of foreign tourists hitting Greece exceeding 32 million by the end of 2018 will impact both hotel and private property (Airbnb) investments.
Greek real estate reached a record high back in 2017 with the total value of transactions with foreign investors rising above €328 million euros, a figure that was twice the 2016 investment. Foreign Direct Investment (FDI) for that year exceeded €3.6 billion euros according to the Bank of Greece. George Kachmazov, founder and managing partner Tranio offered this statement:
“The current low real estate prices and high demand contribute to higher returns for investors. Thus, the net yield on the short-term rent of a renovated city centre apartment in Athens is 5–7 percent per annum vs 3 percent in most European capitals. Moreover, there is potential for real estate prices to grow by 20-30 percent over the next two or three years.”
Back in the Summer, the hedge fund Dromeus Capital announced plans to invest €200 million euros ($231.82 million) in Greek commercial real estate. I mention this because Greek Advantage, Dromeus’ first fund launched way back in October 2012, ended up returning an annualized 15.2 percent return since launch. Clearly, the advantages of investing in markets that have bottomed out is taking hold in Greece. For those still skeptical, I say “follow the small time Israeli investor.” This story tells of up and coming Israeli investors looking to Greece for the big win as the country bottoms out of a huge recession. Reporting from here in Heraklion, Crete, I’d advise any would-be investor to pay close attention to the success stories of these Israeli entrepreneurs. That is, if Chinese billions are not convincing enough.
Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
Do you remember the excitement of curling up in front of your TV for Saturday morning cartoons, or coming home from school to watch a show you’ve been waiting for all week? If you’re feeling nostalgic, look no further than this blog post. We’re talking about all the shows that were so good that we could watch every episode.
1. Wishbone
One Redditor posted, “Wishbone.”
Another replied, “PBS programming back then was [seriously great]! Watching Wishbone gave me an upper hand in my classical lit course at university. Ghost Writer was also really good!”
One user asked, “Wait? Disney got the licensing for Wishbone?”
One user added, “It was. I was technically ‘too old’ to watch Wishbone (I was in HS when it aired), but I’d watch it when I babysat my brother (who is six years younger than I am), and it was so… adorable. I felt a weird sense of pride that it was filmed in Allen, which was just a short drive (maybe an hour?) from where I grew up in Ft. Worth.”
One replied, “Loved that little dog so much!”
A user said, “I am 51, so I wasn’t exactly a kid when this was on, but I can sing every word of the theme song and own a small Wishbone stuffy.”
2. Batman: The Animated Series
One user shared “Batman: The Animated Series.”
One replied, “Consequently, Superman TAS, The New Batman Adventures, Teen Titans, and Justice League & JL Unlimited. The 90s-2000s DC animation run is one for the ages.”
Another responded, “Justice League was hands down the greatest comic-to-screen adaptation ever.”
“JL Unlimited was outstanding,” one Redditor commented.
One user shared, “90s-2000s DC animation run was great, and those shows, including BTAS, remain my favorites ever since my dad placed them on when I was younger and when they aired on tv.”
Another user replied, “Batman TAS used to come on at 4:30 PM where I lived on weekdays. I can’t tell you how happy and warm it made me to watch that show. It was an escape from a very stressful home. I watched it when I was 4-6ish yo, probably, like in ’93-’94 or so maybe.”
“You’re me, but much younger. I would have been 15 to 16—very stressful home. Batman TAS was a godsend some days,” one user concluded.
3. Batman Beyond
One user added, “AND BATMAN BEYOND.”
Another Redditor added, “Won’t ever argue with someone about BAS being the better one overall, but holy crap, Batman Beyond is still incredibly amazing, and people overlook it so much in favor of BAS. In the very same vein, obviously, Mask of the Phantasm is the better movie overall, but I can never get over just how INSANELY amazing Return of the Joker is. Tim Drake sob/laughing is one of the most full-body goosebumps and heart-wrenching scenes in animated history. And the whole final fight against the Joker was 100% perfect. Joker was losing his cool at fighting a Batman with a Spiderman-style ‘mouth.’”
Another user replied, “Lol yeah, Terry is pretty chatty for a Batman. He got more Bruce Wayne-ish later in the series, but he was still quippy.”
“I did a complete rewatch of this series about a year ago, and except for a couple of episodes here and there, it absolutely holds up,” one user added.
4. Are you Afraid of the Dark?
One user commented online, “Are you afraid of the dark?”
Another user replied, “Ahh, I loved that show!!! Same with Goosebumps, lol.”
“The episode where the girl is writing ‘help’ on the wall backward scared me a lot as a kid. I still think the imagery was quite haunting for a kid’s show,” one user replied.
Another Redditor added, “Pick the right door, and you’ll go free. Pick the wrong door, and [he’ll] be………”
One user shared, “I can only remember the episode where the one dude attempted to flirt with girls but later is revealed to be a ghost that only his sister could see.”
5. Count Duckula
One user commented on the thread, “Probably showing my age here, but there was a show in the UK back in the early 90s called Count Duckula. As a kid, it was enjoyable, but some of the jokes went over my head. ‘Your cousin lives in Spain, m’Lord. He’s sure to give us a warm welcome.’ ‘Oh, he’s a friendly kind of guy?’ ‘No, m’Lord, he’s a pyromaniac.’
Another user replied, “This is the one where he’s a duck vampire but only eats vegetables?”
One user replied, “They used to show this at 5 AM on Saturday morning in America when I was a kid, I still remember the song. ‘From the halls of Transylvania / There’s no one more insane. / Dun dun dun da da da / DUCKULA’ Well, I kind of remember it.”
6. Duck Tales
One Redditor commented, “Duck Tales(1987).”
Another user exclaimed, “OoOooh!”
One commenter replied, “‘Racecars, lasers, aeroplanes.’”
Another added, “‘It’s a duck-blur!’”
One user replied, “I can hear it in my head, lmao.”
7. Looney Tunes
“Looney Tunes. I still laugh off watching them,” one user posted.
One replied, “They are where most people my age (69) first heard classical music. The Boston Symphony Orchestra used to run an instrument petting zoo every year, and they played Looney Tunes cartoons in Symphony Hall non-stop all day.”
Another user stated, “The Indianapolis Symphony did a performance of “Bugs Bunny on Broadway. They showed the cartoons on a movie screen while the Symphony played the soundtrack! It was SO much fun.”
One user added, “My favorite all-time bugs bunny line is right after he finishes destroying a man’s bagpipes thinking they were the Loch Ness monster. ‘Well, he put up a good fight. But clean livin’ prevailed.’”
8. The Muppets
One user commented, “The Muppet Show and Fraggle Rock.”
Another user replied, “The Muppets aren’t for kids. They’re for everybody.”
“Fraggle Rock was on HBO, wasn’t it? It was forbidden to all those who didn’t have a rich friend,” one commenter replied.
Another user commented, “LOVED the Muppet show! Statler and Waldorf were the bombs! Saturday morning cartoons were Hong Kong Phooey.”
One Redditor added, “The Swedish Chef herdy gurd gurd herdy bork bork!”
“And Dr. Bunsen Honeydew and Beaker MEEP MEEP MEEP MEEP…. we could do this all day because the whole show and all the characters are awesome!” another user said.
9. Gargoyles
One user shared, “Gargoyles.”
A user replied, “Did a rewatch when Disney+ started up. Very rewarding.”
One added, “Up until the boat episodes…it became such a slog around then.”
One user also added, “‘Avalon doesn’t take you where you want to go, AVALON SENDS YOU WHERE YOU NEED TO BE!’ Ugh that entire bit, like 20 [whole] episodes, is nothing but filler.”
10. Animaniacs
One Redditor posted, “‘Wheel of morality turn turn turn tells us the lesson we must learn.’”
Another replied, “‘If at first, you don’t succeed, blame it on your parents’ even as an adult that makes me giggle. Edit: and winning the trip to Tahiti.”
One commenter added, “‘Lake Titicaca, oh lake Titicaca, it’s between Bolivia and Peru. Lake Titicaca, yes lake Titicaca, with waters tranquil and blue. Lake Titicaca, oh lake Titicaca, why do we sing of its fame? Lake Titicaca, yes lake Titicaca: ’cause we really like saying it’s name! Titicaca!’”
11. The Magic School Bus
One user shared, “The Magic School Bus!”
Another added, “‘I knew I should have stayed home today!!’”
Another user replied, “‘With the Frizz??’”
One commenter exclaimed, “‘NO WAY! aaaaaaaAAAAAAA’.”
Another replied, “‘Cruising [on] down Main Street.’”
12. Teen Titans
One user shared, “Teen Titans.”
Another user replied, “The old one, not the new overly cartooned characters.”
Another responded, “I do believe that one’s called ‘Teen Titans Go’.”
One user commented, “I think I’m the only person who likes the original and Go.”
Another added, “Honestly, I like it too. It has its own charm. I just see them as alternate universe versions of the first show characters.”
One also commented, “They’re both great, for different reasons. The original for the stories and action. Go! For the comedy.”
Another user shared, “Just introduced my son to this. He was addicted to Teen Titans Go but now prefers this and wants to know why it changed lol.”
13. Recess
One user posted, “Recess.”
Another user replied, “The episode about stickers was making fun NFTs long before they were even a thing.”
One person responded, “That episode whomps.”
One user added, “This is literally the only show on TV at my house ever since it went up on Disney plus, it’s the best show in terms of nostalgia for me, but I believe no other show quite captures the mind of children better than it. All the rumours, the secrets, the relatable boredom, takes me back to my childhood with each episode!”
Another person stated, “I watched this as an adult and loved it. I’m constantly looking for the Ashleys in my workplaces, lol.”
14. Hey Arnold
One user commented, “Hey Arnold.”
Another poster wrote, “Watching it as an adult… it’s bittersweet because I watched it all the time as a kid but, man they really have some ‘hidden gems’ in there kid. I definitely didn’t understand.”
One commenter added, “The episode where the popular cool girl goes home and her dad is crying about eating their last can of soup is forever in my brain. And the episode where he teaches one of his adult neighbors to read. ‘LOOK I am petting the kitty!’”
Another replied, “Far too many real, legit situations in that show that were just casually thrown around and us kids just thought it was hilarious. I need to watch the show again at my own risk. I feel incredibly sad for Helga now that I’m older.”
15. Rocko’s Modern Life
One user shared “Rocko’s Modern Life.”
Another added, “I loved this show as a kid. As an adult, my thoughts are, this show is really weird and I can’t believe I watched it as a kid. I still love it lol. Similar to Ren and Stimpy.”
One Redditor responded, “Yes! This is my pick as well! It gets even better as an adult with all the innuendos!”
Another exclaimed, “‘Oh baby oh baby oh baby.’”
One user responded, “‘Rocko?!?!’”
Source: Reddit.
Who is one actress you can never stand watching, no matter their role? After polling the internet, these were the top-voted actresses that people couldn’t stand watching.
10 Actresses People Despise Watching Regardless of Their Role
These 7 Celebrities are Genuinely Good People
We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
These 10 Activities Are an Immediate Red Flag
Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
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We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
“It can be easy to think that the decisions made by central banks don’t impact the daily lives of normal people, however, the reality is they’re very much likely to,” James McManus, chief investment officer at Nutmeg, told CNBC Make It.
Damircudic | E+ | Getty Images
The U.S. Federal Reserve, euro zone’s European Central Bank and U.K.’s Bank of England have all announced monetary policy moves in recent weeks — and interest rates have once again taken center stage.
The world of central banks and their policies, which include interest rates, may seem abstract — but they affect everyone.
“It can be easy to think that the decisions made by central banks don’t impact the daily lives of normal people, however, the reality is they’re very much likely to,” James McManus, chief investment officer at Nutmeg, told CNBC Make It.
On a very basic level, interest is charged when you borrow money, and paid out when you save money. Interest rates — the rate at which you are charged or rewarded — are set by central banks, like the Fed or Bank of England.
These central banks often raise rates in an effort to cool inflation, and then cut them when inflation is closer to their target. A shift in interest rates affects retail banks and lenders, which then pass them on to consumers.
Pros and cons
How consumers are affected by interest rates varies according to whether rates are higher or lower.
“As a rough rule of thumb, when rates are high, the banks will charge us more for borrowing, and pay a better return on savings. When rates are low, borrowing gets cheaper, but saving gets less rewarding,” Sarah Coles, head of personal finance at Hargreaves Lansdown, told CNBC Make It.
“Borrowing” includes mortgages, student loans, credit card repayments and more. Having higher interest on these payments ultimately means they cost you more.
A real-life example of this is playing out in the U.K., where an ongoing mortgage crisis saw mortgage rates hit a 15-year high in July. Many homeowners are unsure if they can afford the higher payments, while prospective buyers are being put off by the higher cost of borrowing.
This is to be expected, said Russ Mould, investment director at AJ Bell.
“Interest rate rises are supposed to hurt by raising interest bills on mortgages, car loans, credit cards and other finance for borrowers, as those higher bills crimp cash flow and disposable income,” he said.
On the flip side, higher interest rates can boost your savings, Mould added.
“They are, however, potentially good news for savers, as they should, in theory, get higher interest on the cash they have in the bank. That will boost their spending power,” he told CNBC Make It.
Interest rates versus inflation
Interest rates often go hand in hand with inflation (rising prices). Central banks hope that higher interest rates will help bring prices down.
“The theory here is that if more money is spent on borrowing (such as mortgages) and saving is more appealing, people will buy less – therefore reducing demand,” McManus said. “As demand reduces, prices should come down to encourage competition for the reduced level of demand.”
Falling prices might sound like good news, especially in the context of the ongoing cost-of-living crisis.
But interest rate hikes from central banks around the world have also triggered fears of a recession and job losses — both of which are linked to the economic slowdown brought on by higher rates.
Despite these risks, higher inflation can be even more damaging, according to Mould.
“High inflation has not been an issue since the early 1980s so many will have forgotten – or never encountered – its ravages,” he pointed out.
“It does far more damage to far more people that higher interest rates because it hurts the value of everyone’s money by reducing its purchasing power and it affects those who are least well off the most.”
How worried should you be?
Ultimately, the question of how people will be affected depends on their individual situations, Coles said. For example, those with large mortgages will likely be more severely affected by high interest rates, she added.
“However, for someone with no mortgage, inflation feels more painful, and for someone with plenty of savings, higher rates are a bonus,” she said.
Although central bank monetary policy decisions affect everyone’s life in one way or another, it’s important not to worry too much about them, according to McManus.
“Central bank monetary policy goes in cycles, there will be times when interest rates are higher and times when they are lower, the most important thing can often be to plan ahead for both scenarios,” he added.
Massachusetts is one of a handful of states with a flat income tax rate. For tax year 2022, people who are required to file a Massachusetts tax return will see the entirety of their taxable income charged at a flat 5% rate. Certain types of income in the Bay State, however, are subject to a different tax rate.
The 2022 tax-filing deadline in Massachusetts was April 18, 2023. If you met certain criteria and paid 80% of your total tax bill before this date, a six-month extension to Oct. 16, 2023, was automatically provided.
Starting with income earned in 2023, an additional 4% tax on income over $1 million will be levied, making the highest tax rate in the state 9%.
Massachusetts state income tax rates and tax brackets
For tax year 2022, Massachusetts’s state income tax rate is 5% on annual gross income over $8,000.
Gross income in Massachusetts includes both earned income, such as salaries, wages, tips and commissions, and unearned income, such as interest, dividends and capital gains. The exceptions to Massachusetts’ 5% tax rate are certain types of capital gains, such as short-term capital gains and gains on collectibles, which are taxed at 12%
.
Do I have to pay Massachusetts state income tax?
Anyone earning over $8,000 in Massachusetts annual gross income is required to file a state tax return.
Those earning less than this amount do not need to file a return, but they can still file a return to claim refundable tax credits.
This $8,000 income threshold is on a per-person basis, giving married couples the option to file jointly or separately.
Track your finances
A NerdWallet account is the smartest way to track your savings, credit cards, and investments together in one place.
Am I a resident for Massachusetts state income tax purposes?
Resident status rules
There are two ways to be considered a full-time resident of Massachusetts. The first is to live in Massachusetts for the entire tax year, while the second is to maintain a home in Massachusetts and spend at least 184 days of the tax year in the state.
Part-year resident status rules
Part-year residents refer to individuals who either moved to the state and became residents or moved out of the state and ended their residencies within the tax year.
Nonresident status rules
If neither of the above applies, then an individual is considered a nonresident of Massachusetts. A state tax return is still required if your Massachusetts annual gross income exceeds $8,000 or the prorated personal exemption, whichever is less
.
What is Massachusetts’ standard deduction?
Unlike other states, Massachusetts does not have a state standard deduction. Instead, state taxpayers can determine if they qualify for certain tax exemptions to reduce the amount of tax owed.
Anyone who files a Massachusetts state tax return is given a personal exemption amount based on their tax-filing status. Taxpayers may also be eligible for additional exemptions, such as those for having qualifying dependents or for having paid certain types of medical or dental costs throughout the tax year. Mass.gov has the full details.
Tax-filing status
Personal exemption amount
Married filing separately.
Head of household.
Married filing jointly.
What’s the filing deadline for my Massachusetts state income tax bill?
The filing deadline for 2022 Massachusetts state income tax returns was April 18, 2023.
To have qualified for a six-month extension, you must have paid at least 80% of the total amount of tax owed by that mid-April deadline. If you didn’t owe any taxes and didn’t file by the deadline, an extension to October was automatically granted.
The state extension deadline follows the federal extension deadline set by the IRS, which for the 2022 tax year is October 16, 2023.
Those who have been affected by a federally declared disaster automatically receive an extension for filing tax returns, paying their tax bill and filing a Massachusetts tax extension
.
4 things to know about Massachusetts state tax
Free tax-filing is available to eligible Massachusetts full-time and part-time residents through MassTaxConnect.
The Massachusetts Department of Revenue encourages taxpayers to file and pay their tax returns online. Filing can be done through a tax vendor or MassTaxConnect. Paper filing options are also available.
Massachusetts offers payment plans for people who can’t afford their tax bills. If you owe $5,000 or less, you can sign up for a plan online. People with higher tax bills should reach out to DOR collections for more information
Check the status of your Massachusetts state tax return online or by phone at 617-887-6367 Monday through Friday, 9 a.m. to 4 p.m. Eastern time.