But crunching numbers too much can be a crutch, rather than a tool.
Before she enrolled in Your First Rental Property (YFRP), Kelsey found herself stuck in analysis paralysis. She wanted to invest in rental property, but she kept crunching theoretical numbers without taking action.
“When people talk about how difficult it is to get over analysis paralysis, that is me, that is absolutely me, because I’m such a numbers person,” she said. “I love to analyze every single aspect of something new.”
She’s not alone.
Analysis is great. But analysis paralysis, when overthinking or overanalyzing leads to inaction, is one of the most common obstacles new investors face.
When you’re putting significant savings on the line, analysis paralysis is a normal fear-based response.
But it sidelines you. It shortens your time in the market and the compounding gains that follow.
Kelsey recognized this and enrolled in the course to learn how to rigorously analyze properties without succumbing to analysis paralysis.
She learned how to transform analysis into action.
“You level up your knowledge so much faster than you possibly could have if you were doing this all on your own and trying to figure it out as you go, stumbling through every decision.” — Kelsey Kaszas
The California resident began her search near the opposite coast, in Pittsburgh, Pa.
In 2018, Kelsey was introduced to Pittsburgh by her soon-to-be-wife, whose family lives in the area. She noticed that price-to-rent ratios looked promising, so she used the tactics she learned in YFRP to research the area from afar.
She started looking for off-market deals, including driving for dollars and working with wholesalers — “something I learned about in your course,” she said.
Yet something felt … off.
She decided to take a break and focus on wedding planning. She knew she had YFRP course and community access for life, and she could return to the course for knowledge, support and confidence whenever the time felt right.
Two years later, Kelsey had an epiphany while on vacation in Joshua Tree National Park. This is right, she realized. She wanted to invest in this area in Southern California.
She knew she’d need to be flexible, knowledgeable and innovative to make the numbers work.
Kelsey dove headfirst back into the course, refreshing her real estate knowledge by reviewing every module again. She joined a YFRP mastermind group. She attended Office Hours. She used the spreadsheets and other resources nearly daily.
“The course is just so comprehensive that when you … try to learn it and take all the quizzes and you’re engaging with the course material, you level up your knowledge so much faster,” she said.
She made offer after offer. Most didn’t pan out, but Kelsey was undeterred. She had the support of the YFRP community and the confidence that comes from deeply understanding the numbers.
“The last four months has been nonstop real estate for me,” she said.
The YFRP Analyzing Module features a robust spreadsheet that helped her make well-informed offers. She could calculate how much she’d need to pay for a property in order to get the profit margin she wanted.
During the hottest seller’s market in a decade — early 2021 — she made competitive offers, using tactics she learned in YFRP.
On March 11, 2021, Kelsey closed on her first rental property, located six minutes away from the entrance to Joshua Tree National Park.
We talked to Kelsey on the day of her closing. Here’s what she said:
“There’s so much – so many positive things I could say about my experience with taking the course … and getting to engage with the forums and with people in the mastermind group.”
“Office Hours were huge — getting face-time with you and being able to ask questions as they come up. And I know that’s been big for other people.
“And sometimes I’ll go back and listen to Office Hours recordings, because someone else will have a question that maybe I would have had. And so instead of having to ask it myself, I can just go listen to the recording and the information is all there. That’s support in a way that you wouldn’t really be able to find anywhere else.
“Being able to interact on the forums, and if someone has a question, there’s a whole group of people who are ready to help, ready to answer these questions. I think that really shows what a strong community is being built with every single cohort that goes through the course.”
What’s next for Kelsey? She’s gearing up to renovate her property — as a long-distance investor — and she’s turning to the Renovation Module within the course to support her during this project.
The Renovation Module, she says, prepared her for intense conversations with her contractor, and she’ll be returning to this module repeatedly as she makes renovation decisions from her home in Los Angeles.
Pre-qualification is usually the first step in the process for student loan applications. After that, you’ll choose from a list of potential lenders. Then, ideally, you’ll select the one with the best rate.
But what if you and your pals could contact a single lender for a loan together? Would they be more inclined to reduce their rate? Introducing Juno: a platform that seeks to harness the power of community.
Juno has created a platform that allows students to band together and leverage their buying power to get the best possible rates on their loans. Juno works with several different lenders to find the best rates for borrowers.
And because they work with multiple lenders, they can offer more flexible repayment options than most traditional organizations. So, if you’re looking for a student loan, we encourage you to check out Juno and see what we can do for you. Juno is a reliable and trustworthy source for student loans, and most Juno student loans reviews are positive.
Check out our Juno review below to learn more!
What’s Ahead:
About Juno Student Loans
Juno was founded in 2018 by two Harvard Business School students shopping for loans to cover their student debt. Their mission is to help reduce the alarming level of student loan debt in the United States. Juno offers competitive rates and terms on its student loans and has various lender options.
Its founders, Nikhil Agarwal and Chris Abkarians, used negotiation strategies to obtain more affordable loans for their education. They decided to create Juno so other students could benefit from their experience.
Working with Lenders
In 2022, Juno held an auction to compel lenders to provide the community with the best prices. They spent hours poring over rate tables and spreadsheets to determine which lenders provided the best rates for most borrowers. It allowed them to get the best possible deals for their members and ensured they got the best terms for new student loans as well as refinancing existing student loans.
Juno charges the chosen lender a pre-determined fixed fee before the start of the agreement. It ensures that Juno will not get tempted by more substantial financial inducements from other companies.
Offering the community the best pricing is the only way for lenders to prevail in the auction. By providing the community with the best possible pricing, Juno can ensure that it remains the preferred choice for student loans.
Saving Students Money
As an authority on student loans, Juno has helped countless students and families save money on borrowing. Juno members have borrowed more than $500 million at reduced rates, making it an ideal go-to source for anyone looking to lower their student loan payments.
With a wide range of options and expert negotiators on staff, Juno is well-equipped to help you get the best possible terms on your student loans.
What Loan Types Does Juno Offer?
Here’s a quick breakdown of the loans you can access.
Undergraduate Loans: These loans are for students enrolled in an undergraduate program at an accredited institution.
Graduate Loans: These loans are for students enrolled in a graduate or professional program at an accredited institution.
MBA Loans: These loans are for students enrolled in an MBA program at an accredited institution.
Parent Loans: These loans are for parents of dependent students enrolled in an undergraduate or graduate program at an accredited institution.
DACA Loans: These loans are for students with Deferred Action for Childhood Arrivals status enrolled in an undergraduate or graduate program at an accredited institution.
Degree Abroad Loans: These loans are for students enrolled in a degree program at an accredited international institution.
Student Loan Refinancing: If you have an existing student loan and have already graduated, you may be able to reduce your rates through refinancing.
Now let’s provide some in-depth Juno student loans reviews.
1. Juno Graduate Loans
As a graduate student, you want to be sure that you’re getting the best possible deal on your student loans. That’s where Juno comes in.
Juno is committed to providing the best possible terms for graduate students with credit scores of 650 or above. In addition, they offer a cash incentive and a price match promise to anyone who can find a better private student loan.
Pros
Free membership
Juno offers the lowest rate guaranteed
No obligation
Cons
Juno doesn’t work with every lender
Verdict
With Juno, you can rest assured that you’re getting the best deal possible on your loan. That’s why they’re the best choice for graduate students looking for a private student loan.
Get a quote for a graduate student loan
2. Juno Undergraduate Loans
Federal Stafford loans are generally the best choice for undergraduates. Still, it’s common for students to need to borrow more than the federal maximum of $5,500 for their first year of school. As an undergraduate student, you may find yourself in need of extra funds to cover the cost of tuition and other associated expenses.
The cost can be even higher for parents helping their children pay for college. Parent PLUS loans, which the federal government offers, have an interest rate of 7.54% for the 2022–2023 school year and a 4.2% origination charge. That can make them quite expensive for borrowers with good credit.
Consider a private loan from Juno if you cannot secure additional funding through federal loans. Juno currently offers a notable rate reduction for student loans, which can help families fill the gap after reaching the national lending limit, saving you money in the long run.
Pros
Low fixed interest rate
No origination fees
Deferment period
Cons
You can’t see what rates you’ll get before signing up
Verdict
Our Juno student loans reviews are overwhelmingly positive for undergraduates. Juno’s undergraduate loans have competitive interest rates and terms that could help you cover most expenses.
Get a quote for an undergraduate student loan
3. Juno MBA Student Loans
If you’re looking to finance your MBA, you may wonder if getting a private loan is worth it. Unfortunately, most MBA graduates enter profitable positions not covered by PSLF or IDR policies after graduation.
So, private student loans can be a great way to finance your education. Juno offers low-interest loans specifically for MBA students, with repayment terms possible starting after graduation.
Pros
No credit checks involved
You can tap into lower rates
Quick sign-up process
Cons
Potentially longer approval process
Verdict
If you’re looking for a low-interest loan to finance your MBA, Juno could be a good option.
Get a quote for an MBA student loan
4. Refinancing a Loan Through Juno
Already taken a loan out? It’s not too late – you can also refinance through Juno. They offer a wide range of services for students and professionals to meet the needs of borrowers.
Here are our Juno student loans reviews for refinancing.
If you are looking to refinance your loan, Juno has a few different partner lenders that can help you. Earnest, Splash Financial, and Laurel Road all offer refinancing with periods ranging from 5 to 15 years.
If you want to refinance medical loans, you will get sent to Laurel Road. However, if you wish to refinance any other loan, Earnest or, Splash is used instead. Juno is an excellent resource for those looking to lower their monthly payments or interest rates on their existing student loans.
Refinancing plans are available for:
General Student Loan Refinancing
Medical Student Loan Refinancing
Parent PLUS Loan Refinancing
MBA Student Loan Refinancing
Get a quote for refinancing a student loan
How Does Juno Compare to Federal Loans?
Juno student loans reviews are slightly different from federal loans. One thing to note is that the government offers federal student loans, while banks, credit unions, and other financial institutions offer private student loans.
Interest Rates
Interest rates are another key difference. With a federal loan, interest rates are set by Congress, while the lender sets private student loan interest rates. As of 2022, the interest rate for Federal Direct Subsidized Loans and Unsubsidized Direct Loans is 4.53-6.54%. For federal Grad PLUS Loans, the interest rate is 7.54%.
Repayment
Federal student loans offer several repayment options, including income-driven and extended repayment plans. On the other hand, private student loans like Juno typically only provide a standard repayment plan, although some others may offer a comprehensive plan.
Protection
Finally, federal loans offer borrower protection. For example, if you become unemployed or have a sudden drop in income, you may be eligible for a deferment or forbearance on your federal student loans.
These options temporarily allow you to stop or make smaller payments than usual. But, unfortunately, there is no such thing as a deferment or forbearance for private student loans – if you can’t make your payments, you’ll likely default.
So Which is Best?
One thing is sure from our Juno student loans reviews: pooling resources can help you secure the lowest loan interest rate guaranteed. Private financing is often considered less flexible than federal support, but Juno is seeking to change this.
FAQs about Juno Student Loans
Is Juno Legit?
Yes – Juno’s track record is impressive. Since its founding in 2018, Juno has already had more than 110,000 members sign up to join one of its negotiation groups, and it has secured over $520 million in loans.
It’s free to use, and you can choose the best option for your needs. So if you’re considering where to get your student loans, check out Juno as a potential option!
Can I get a scholarship from Juno?
Yes, Juno provides a $1,000 essay scholarship. Only citizens of the United States may enter, and a winner gets chosen annually.
Can Juno be used to refinance debts for overseas students?
Yes! Juno launched a program to help international students refinance their student loans this December. It is the first program of its kind.
Does Juno require a good credit score?
No, you don’t need an excellent credit score for a loan — you can get a cosigner to help you get qualified if your credit score is low. A cosigner is usually a parent or other family member who agrees to sign the loan with you (but their score will need to be above 650).
This way, even if your credit score isn’t good, you may still be able to get the loan you need. When requesting refinancing from Juno without a cosigner, a credit score higher than 650 is advisable.
What kind of student loan do most people take out?
The most typical Juno loan is a 10-year loan with a fixed interest rate. However, many parents choose the deferred option, where they don’t make any payments while their children are in school.
But paying a little while in school to receive a lower interest rate is often the wiser choice. For instance, if you pay $25 per month, you may save a lot of money if you take advantage of the autopay discount.
Summary
Saving money as a student by using the force of collective bargaining to get lower interest rates is innovative. We’ve looked at Juno student loans reviews. Many students balk at private financing compared to federal funding – this might be the organization that changes the game.
By pooling borrowers with similar profiles, Juno can negotiate better interest rates with lenders on behalf of its members. And because there’s no cost to use Juno’s services, it doesn’t hurt to try it out and see if you could be qualified for lower interest rates.
So why not give it a shot today?
Get a quote for a graduate student loan refinance or a new private student loan
Michelle’s quick note: Today, I have a great blog post on how to save money for a large deposit from Rachael, who is a long-time reader of Making Sense of Cents. Rachael purchased her first investment property at the age of 20 by saving for a deposit and found many great ways to save for the 20% deposit. Below is her blog post. Enjoy!
I bought my first investment property with a 20% deposit when I was 20 years old (admittedly I was 2 weeks shy of turning 21!). I accomplished saving for a deposit with my own money, my parents never gave me a cent. So how did I do it?
1. The first thing I did was start applying for jobs as soon as I turned old enough to get a job. I started working when I was 15 as a checkout chick at Woolworths. Not very glamorous, a bit boring and repetitive but I was earning money! I worked about 10 hours a week during my last 2 years of high school, and worked around 20 hours per week during the school holidays. I worked at Woolworths for 3 and a half years and saved a good chunk of the money I earned.
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2. When I worked during high school the only time I would ever say no to a shift is if I was sick or had an exam the next day. It didn’t matter if I didn’t want to go to work (does anyone ever actually want to go to work?) I hated that job but I wanted a property so I went to work.
Sometimes I’d get home from school, get changed into my work uniform then go straight to work until 9:30 then come home and study until midnight to get homework and assignments done, then go to school the next day. I know some people don’t agree with kids working while studying but it was really helpful for time management as it didn’t leave me with any time to procrastinate!
3. The main contributor to earning enough money for the deposit was opening an Etsy shopI’d been designing printables to help keep me organized for a while and decided to start an Etsy shop to save up some money for a trip to the USA (I live in Australia). I ended up making enough money to cover most of the cost of the holiday. The intention when I got back from vacation was to close up shop and focus on my university studies. But I came back to tons of messages from people asking when my shop would be reopening because they wanted to buy my printables. I thought I may as well leave the shop open and make some extra money to supplement the income I was earning as a checkout chick (which was not much!)
About 6 months later my sales kept growing even though I wasn’t creating many new printables – I was earning more than I was scanning groceries (and having a lot more fun!) so I decided to turn my Etsy shop into a business. It also made me realise that I’ll never earn an above-average or life changing money working for someone else.
When I started my 3rd year of my university course, I got a job in my field. For 3 months I worked 10 hours a week scanning groceries, 25 hours a week at my day job, juggled my 2 Etsy shops, a blog, and maintained a high GPA at my university studies. I say this not to brag, but to point out that the money wasn’t just handed to me on a silver platter – if you want something you have to work for it. Needless to say I was burnt out. I quit being a checkout chick (that was a wonderful day!) and sought other ways to save the money I was no longer making from working those 10 hours a week. If you’re looking for ways to make extra money, Michelle has dozens of posts with side hustle ideas.
My biggest advice when it comes to saving money is not to increase your standard of living when you start earning a higher wage.
Aside from starting an online business, I saved money in numerous other ways:
4. I don’t have a car. When I did the math it was cheaper for me to pay higher rent and live closer to the city and use public transport (plus it’s more convenient). I share an apartment with my sister which also helped me save money as bills are split in 2, and it’s cheaper to rent an apartment with someone than it is to live by yourself
5. I buy stuff when it’s on sale & stock up. Yep, I’m one of those crazy people that buys 30 rolls of toilet paper when they’re on sale. When a sale does come around, I’m organized and have a list of everything I need to buy – the key is that you only buy what you need not just stuff that you want.
6. I bring my own lunch. I see so many of my work colleagues wasting their money on donuts, coffee and buying lunch every day. Then they whinge and seem confused that they don’t have any money by the end of the month when they’re screaming out for payday. One of the reasons I work as much as I do is because I never want to live paycheck to paycheck
7. When I was saving up I put most of my money into a term deposit. Not only did this prevent me from spending it, it also earned a higher interest rate than an everyday savings account. When the term deposit expired and I still didn’t have enough for the deposit, I went to my bank every couple of months and opened a new savings account so I could get their 3 month introductory bonus interest rate (by the 3rd time of doing it the bank knew me by name and just reset the interest rate rather than making me open a new account!)
8. I track where all of my money is spent using my budget binder printables – no joke, every single dollar gets accounted for. I do the same with my business income and expenses using these spreadsheets.
9. I set a maximum amount I would pay per piece of clothing and stuck to it (still stick to it!) no matter what ($20 for shirts, $40 for a pair of shorts in case you were wondering – keeping in mind that clothes are more expensive here in Australia). If I find a piece of clothing that I like I also buy it in multiples when it’s on sale. I have an ‘around the house’ wardrobe which consists of cheap clothes I wouldn’t wear in public but are perfect for blogging!
10. I utilise credit cards. A lot of people have a misconception that credit cards are bad but they’re not if you use them to correctly i.e. not to buy stuff you couldn’t otherwise afford. Not only do I not have to carry cash but when I makes purchases on my credit card I accumulate points that can be converted to cash.
Plus most credit cards will give you a signup bonus (such as cash or frequent flyer points) – just make sure you check that the bonus is more than the annual fee. You can always cancel the card before the end of the year then sign up for a new card the next year to get a new signup bonus.
By purchasing on credit card, you can keep money in your savings account for longer meaning YOUearn interest on your money, not your bank. I use my budget plannerto keep track of when money needs to be transferred so I’m not hit with a late fee.
Related: How To Take A 10 Day Trip To Hawaii For $22.40
11. I’m on the lowest phone plan with the smallest amount of data and I still never reach the limit because I utilise free wifi. I always make sure my phone is set to wifi when at home, and if I need directions somewhere I’ll look it up and take screenshots before I go so it doesn’t use up data.
12. I try and travel during off-peak season. And if I do travel during peak season I travel with others so the cost of accommodation and airport transfers can be split.
13. Comparison shopping research. I always compare the cost of basically everything before purchasing. Each week I go through the grocery catalogues and see which shops have the same item for the cheapest price. If I’m buying electronics I make sure I take advantage of price matching.
14. Before I buy anything I ask myself: ‘do I really NEED this?’ We all have that one thing that we can’t resist. For me, it’s stationery. I’m a massive stationery addict and the number of times I’ve had to tell myself no when I see a cute notebook or another pen sucks, but if I don’t actually need it then I don’t need to buy it.
15. I use ATM’s that don’t charge me transaction fees. Make sure you check with your bank if there are any banks they partner with i.e. won’t charge you fees, or at least look at which ATM’s charge the lowest fees if you withdraw money and aren’t a customer with that bank.
16.I never buy stuff from convenience stores – they charge double the price for a chocolate bar, a bottle of water etc. as the supermarket. I was with a work collage at lunch and she spend 4x the cost on 2 items that she could’ve got for way cheap if she walked 100m up the road to the supermarket. She didn’t even bat an eyelid and all I could think was you just spend a third of your hourly wage on stuff that’s going to be consumed in 5 minutes!
17. I’ve never ordered dessert at a restaurant. Ever. Why pay $12 for a bowl of ice cream when I can buy 3 tubs for the same price?!
18.I never buy scatchies, lottery tickets or participate in sweepstakes at work. I believe you’ve got to make your own luck!
19.When I catch up with friends I do so over lunch or afternoon tea rather than dinner as meals are usually cheaper.
20. I walk around my neighbourhood rather than paying for an expensive gym membership.
Related: The Busy Person’s Guide On How To Be Healthy
The 20% deposit on my first investment property
All in all it took me about 5 years to save the deposit. I’m not going to sugar coat it. It was hard. Really hard. ‘Training’ myself to say no, to really ask myself if I actually need something as opposed to just wanting it was not fun.
And just because I have the property now, doesn’t mean I’m going to suddenly stop being ruthless about saving money. My mentality is now ‘I could buy this for $100, or I could put that towards an extra mortgage repayment.’ I tracked my savings and spending (no joke, I account for where every dollar goes) using my budget binder printables(which I still use to track my spending).
Related: Home Buying Tips You Need To Know Before You Buy
As for whether I’d buy a property at 20 again, I’ll admit there have been times when I’ve regretted my decision. I could’ve done a LOT of travelling with the money I’ve poured into my mortgage (as well as all the other ongoing costs such as property management fees, body corporate, maintenance etc.).
I’ll admit I do get jealous of my carefree 20-something friends’ holiday photos, and that they have no qualms about dropping a couple of hundred dollars on a concert ticket. I also wouldn’t have to awkwardly ask friends to pick me up if we go out since I can’t afford a car (I do pay them money for fuel!) If interest rates weren’t at historically low rates at the time, then I also probably wouldn’t have been able to purchase the property.
But whenever I feel ‘depressed’ looking at how much money I’ve poured into the mortgage and how much interest is added to the balance each month, I remind myself that I’m on track to paying off my mortgage by the time I turn 30 and I feel a whole lot better! ☺
What have you done so that you can save a large amount of money such as saving for a deposit?
My monthly Extraordinary Lives series is something that I’m really enjoying doing. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Tanja Hester, who retired at the end of 2017 at the age of 38.
You probably know her from the amazing blog Our Next Life. Our Next Life is one of my favorite blogs, so I’m glad Tanja said yes to this interview!
In this interview, you’ll learn:
How she managed to retire so early;
How she still lives comfortably in one of the most beautiful places in the world;
Her advice for retiring early no matter what your career choice is;
How she decided how much she needed to retire on;
The sacrifices she has had to make;
And more! This interview is packed full of valuable information!
I asked you, my readers, what questions I should ask her, so below are your questions (and some of mine) about Tanja’s story and how she has accomplished so much. Make sure you’re following me on Facebook so you have the opportunity to submit your own questions for the next interview.
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1. Tell me your story. How are you managing to retire so early?
Hi Michelle! Thanks so much for having me. 🙂 We feel like we’re now living a magical life as early retirees, but there’s no magic to how we got here. We spent a lot less than we earned for a bunch of years in a row, made easier and faster by above average salaries (both earned six figures in our last several years of work), and we tried to make some other smart decisions along the way. But we didn’t strike it rich with Bitcoin or build a unicorn startup or get an inheritance or anything else. We just stayed focused on our goal and ground away at it, bit by bit.
More specifically, we focused on three big things:
1. Buying less house than we could afford. The banks would have happily lent us three times as much as we paid for our house in Tahoe, but we stuck to our guns and set our own budget. We lucked out by being able to buy at almost the bottom of the market in 2011, but even though we could have bought more house then for a pretty good price, we kept our budget modest, and that allowed us to pay off our mortgage in just over five years, which then let us save more in our last year of work as well as go into early retirement with no mortgage, which means our basic cost of living is minimal.
2. Paying ourselves first and automating that. We set our paychecks up so that a big chunk went straight into savings without us ever seeing that money, and had another big portion set to go into our investments automatically with each paycheck. We kept only a small portion of our total income in our checking account, and so felt like that was all we had to spend. But more importantly, saving wasn’t a choice we had to make, which would have relied on willpower we don’t always possess. It just happened without us doing anything. For those who aren’t natural savers (like us!), I can’t recommend enough taking the decision out of it and automating your savings.
3. Not inflating our lifestyle. For the last decade of our careers, we banked every bonus and every raise. So at the start of each year, we’d increase our automatic investments by at least as much as our paychecks increased, meaning we never felt like we got a raise, and we didn’t start spending more. When you add the compounding effect of all those raises we banked, it adds up to quite a big number! But for us, because we did it gradually that way and just kept the amount we had to spend steady, it never felt like a sacrifice to save at a really high rate.
2. When did you begin saving for early retirement?
While we’d been saving for years for a string of financial goals – paying off my consumer debt, buying our first place in LA, buying our forever home in Tahoe and saving a bit for traditional retirement – we started saving for early retirement in a focused way about six years ago. And then we got super focused four years ago.
I still can’t believe how much we saved in that time, but it’s amazing what’s possible when you get really clear on your “why” and align all your decisions around it. (And again, having a higher income for sure helped. You can’t save more than you earn, so the more you can earn, the faster you can save.)
3. Was early retirement always something you were striving for? What made you want to retire early?
Mark and I always had a sense that we didn’t want to work “forever,” but we didn’t know what that meant. We had very demanding, high-stress careers where we could never truly be offline. We loved much about the work and loved our clients and colleagues, but it definitely took a big toll on our physical and mental health. And that’s how we knew that we weren’t willing to do that kind of work forever.
We talked about transitioning to different, lower-paid careers, but once we realized that we could work hard for just a few more years and then never need to work again, it was an easy choice to keep going.
Related: What Is Financial Independence, Retire Early? Answers To FAQs About FIRE
4. Would you say that you live comfortably? I ask this because many people assume that early retirees eat a lot of rice and beans!
I mean, I do love rice and beans. 😉 But we only eat rice and beans a few times a month. I would definitely say we live super comfortably! We own a single family home in a crazy beautiful part of the world, we spend money on fresh, healthy, mostly organic food, we ski multiple times a week and we take several international trips per year.
There’s a lot we don’t spend on, of course, and we do have one freakishly frugal habit that shocks a lot of people – keeping our house at a chilly 55 degrees F in the winter – but we think our life is pretty darn luxurious. But we keep it reasonable by ruthlessly cutting out the mindless spending that doesn’t add real value to our lives and focusing our spending only on the things we love to do.
5. What career did you have before you retired? Did that career help you to retire earlier?
We both worked as political and social cause consultants for a long time – 16 years for me and nearly 20 for Mark. We loved doing meaningful work with smart, talented people, but the pace of it was really hard to sustain. We had to travel a ton and be reachable at all times, and that stress was something we carried around with us at all times. But, the upside of high-pressure jobs like that is that they often pay well. So yes, absolutely – having those careers 100% enabled us to retire early!
6. What advice do you have for the average person that doesn’t make six figures a year who wants to retire early? What do you have to say to those who may think that they can never earn as much as you can – can they still retire early too?
While earning more certainly helps speed things along, there’s nothing about the core principle of financial independence – spend less than you earn and save the difference – that requires an especially high income or a job in tech or any other particular factor. (We both went to state schools for college and majored in English and communications, if you’re curious.) If you can afford to save even a little bit of money each month, you can do this, you just might be on a slightly longer timeline. If you make saving for early retirement a priority, you’ll be amazed that it does not take 40 years to save, as many financial experts would have you believe.
My best advice is to be diligent about tracking your spending. Know where every dollar is going, and then then ask yourself which of those dollars brought you real, lasting happiness, not just a momentarily thrill, and which ones didn’t. Then, as much as you can, cut out the spending that doesn’t make you happy. You don’t even have to do it all at one time, but once you start seeing your spending that way – mindless spending that doesn’t add value and mindful spending that makes you happier – it becomes a whole lot easier to save money.
And then don’t just think about the saving side of the equation. Think about the earning side, too. Side hustles are all the rage, and I side hustled for the first 12 years of my career, working a few odd jobs and then teaching yoga and spinning for 10 years. Those jobs definitely helped me earn and save more in my early career years, but eventually having extra commitments held me back in my “real career.” And at that point, I ditched my side hustle and committed myself fully to my main job, working as long and traveling as much as that required. I know that having that real commitment to work paid off in the form of promotions and bonuses, and that wouldn’t have been possible if I’d kept my side hustle.
7. Will you still earn an income in retirement?
Our retirement is funded primarily by selling shares of stock and bond index funds that we bought throughout our savings phase, as well as by collecting rent on the one rental property we have. We created our “magic number” that we needed to save by figuring out what we’d need to have if we never earned another penny, and that’s what we saved. But now that we’re retired, we also realize that of course we’ll still earn money in some form. Retiring early takes a bit of a hustle mindset, and you don’t just stop being a person who hustles when you leave your career.
The good thing is that we can now put that hustle to use toward community service instead of paid work, and if we do take on paid work, we can be super picky and do only work that sounds super fun, that we’d happily do for free. And that extra money we earn can go toward more charitable giving, toward an extra trip overseas, or maybe toward a home project like a kitchen remodel. In the spirit of full transparency, Mark and I are both working a little bit this year, though in total it will only be about 10-20 percent of our time. We didn’t plan to work, but Mark got an offer he couldn’t refuse to work on a passion project, and I got an offer to fulfill a lifetime dream, so we both had an easy time saying yes.
8. How did you decide on how much you needed to retire on?
The starting point for calculating any early retirement number (or traditional retirement number, for that matter) has to be knowing what you spend in a year. Most online retirement calculators base your target number off what you earn, and that’s bananas if you don’t spend everything you make. When we started our planning, the rule of 25X (25 times your annual spending, the inverse of the 4% safe withdrawal rule) wasn’t as widely talked about, and it wouldn’t have worked for us anyway because we wanted to build a two-phase early retirement plan that would let us leave our traditional retirement savings alone (many early retirees convert 401(k) and IRA funds to be able to access them early without penalty, but we don’t want to do this), so that we’d have a big cushion for our later years, especially given all the uncertainty right now around health care, and the high costs even for those on Medicare.
We probably overcomplicated our calculations a bit because we’re both spreadsheet nerds, but the short version is that we calculated that our 401(k)s already had enough in them to support our “phase 2” (basically our traditional retirement, from age 59 ½ onward, after we can access our 401(k) money without having to jump through any hoops), and so we focused on saving an amount in unrestricted, taxable mutual funds that our spreadsheets told us would carry us through the first 18 years (our “phase 1”). We based those projections on extremely conservative market gains – only about percent real returns after inflation – so that we’d be okay even if the markets are flat for many years.
9. What sacrifices or hard decisions did you have to make?
I think the way we did this – focusing mostly on keeping our lifestyle contained as our earnings increased and automating our savings – made it not feel like a sacrifice. We for sure did give some things up like frequent meals out and traveling with a bit less of a budget orientation, but for those things, it was easy to give them up because we knew exactly why we weren’t spending money on them anymore. Having our goals clear in our minds and both being excited about our vision for the future was so motivating that it headed off any potential feeling of sacrifice.
Two of the hardest decisions we made along the way were to alter our plans to be able to help out family members. We hadn’t planned to buy a rental property, but it became clear that a relative with special needs would be helped a lot if we’d buy a property that would meet those needs and rent it to them, and so we adapted our plans to allow for that. And then another relative was about to go to debt collection for some medical debts that weren’t their fault, and we decided to make a personal loan to let that person move forward financially. Both decisions have worked out super well, and we believe strongly that there’s no point in having money saved if you can’t use some of it to help people you care about, but it was definitely tough to make each of those decisions.
10. What will you do about health insurance in early retirement?
We fully expect the landscape around health care in the U.S. to keep shifting, but for now we have health insurance that we purchased through the Affordable Care Act exchange. It’s a bit pricey but it’s normal insurance, which is a huge comfort to have!
11. What are your long-term plans now that you will have significantly more time not working?
We’re trying to keep things as open-ended as possible! I’m definitely going to keep writing the blog, and we’re both actively volunteering in our community. We went to Taiwan earlier this year and are planning a few more trips through the end of 2018, and then, who knows?
We’re exploring getting a very small motorhome (not big and fancy like yours, Michelle!) that we can use for road trips around the west, but that’s not for sure yet. A few years ago, we decided that our purpose is service, adventure and creativity, so while we don’t yet know what path our lives will take, we know we’ll be doing some of each of those three.
12. Are you doing any lifestyle changes to reduce your expenses in early retirement?
We are! When we were working, we were so crunched for time that we ate a lot of frozen and convenience foods, even though we would have preferred to make everything from scratch. We also couldn’t really comparison shop because we didn’t have time for that. But now we’re making more food from scratch and visiting a wider array of stores and learning what items are priced best at each place.
We’re also DIYing everything we can now that we have time to do that. But beyond that stuff, we were already living at a level we were comfortable with and that let us save a lot, so it doesn’t feel like we need to trim much more. But ask me again in a year, and maybe I’ll have found some new ways to save!
13. I’m curious to know what your methods for staying focused on accomplishing such a major goal?
Even in the very best case scenario, saving for early retirement takes years, so it’s important to know up front that you will feel some impatience along the way. Everyone who’s done it has felt it at one time or another, or maybe many times!
We found it helped a ton to track our progress and look at it often, so that we could see how far we’d come. And having everything automated also helped because we didn’t even give ourselves the opportunity to have the thought, “We’d rather spend this money instead this month to treat ourselves.” And finally, we didn’t deprive ourselves, and I think that’s important.
Living solely for tomorrow is not the way to be happy with your life – you have to allow yourself some joy today. We tried to keep things modest, of course, but we still let ourselves do fun things and spend money on things that made us happy instead of saving all our money. Living for both today and tomorrow helps with the impatience a ton!
14. If you were starting back at ground zero, what would you do differently from the beginning?
If I could go allllll the way back, I’d never set foot in Target! Haha. When I was just starting out in my career, Target was my kryptonite, and I wouldn’t set foot in there without buying a whole bunch of home decoration stuff that I didn’t need. One of my best practical saving tips is to know your spending triggers and avoid them, so to this day, I do not set foot in Target, and I get what I would have bought there on Amazon or at less tempting stores.
But if we’re just talking about the beginning of the early retirement journey, we would for sure have invested in more rental properties. Real estate offers a quicker path to financial independence than does saving, and it gives you some diversification you don’t get by only investing in the markets. I thought I’d hate being a landlord and so wasn’t interested in real estate, but now that we’ve done it for several years, we wish we had put more focus on rental properties.
15. Lastly, what is your very best tip (or two) that you have for someone who wants to reach the same success as you?
Don’t just think in terms of numbers. Get clear about what you really want to be doing with your life – what that looks like, what will make you feel like you have a purpose, what you want to be able to look back on at the end of your life and feel proud of – and then decide what you’re willing to give up to make that happen. Doing that exercise will help you figure out much more quickly how much your new life will cost and how much you can afford to save now, but best of all you’ll have the motivation to do that saving because you will have already invested the time in forming that solid vision for yourself instead of saving just to save, or just because you don’t like your job. If you retire early just because you don’t like your job and not because there’s something else you’re super stoked to do, you’ll probably be unhappy in early retirement, too.
And on the numbers front, don’t just focus on saving money. Focus on earning more. There’s a limit to how much spending you can eliminate but no limit to how much you can earn, so don’t neglect that half of the equation.
Are you interested in early retirement? Are you saving for retirement?
Lender Price, a leading provider of mortgage loan product and pricing technology, has launched Base Price Solution (BPS), a new pricing tool designed to help banks, lenders, and credit unions optimize their pricing strategies.
With the new product, lenders have the ability to quickly generate base pricing, which eliminates the need for multiple spreadsheets used to calculate pricing market swings. The solution not only provides full transparency for regulators and auditors, but it also helps reduce manual processes, improve accuracy, and get pricing out faster when the market changes.
BPS is specifically designed for capital markets and secondary marketing teams that want to ensure they are priced competitively while maximizing their profits, Lender Price said in a statement. Users can also set custom pricing rules based on factors such as seasonality, demand, and competitive pressures.
The pricing tool is directly integrated with top market data providers, enabling lenders to set up pricing plans for different types of products, reference buy-up or buy-down tables as well as MSR servicing grids, and manage and adjust pricing for multiple products or services. Additionally, BPS allows manual channel-based subsidies at the coupon level and complete traceability for regulatory or audit reasons.
With Base Price Solution, lenders can quickly reprice within minutes during market swings and recall any committed pricing date to the history screen for reference or audit purposes. By automating the process, pricing updates save time and reduce the risk of manual errors.
“We are excited to launch Base Price Solution, a powerful pricing tool that will help banks, lenders, and credit unions improve their pricing strategies and drive profitability,” said Dawar Alimi, CEO at Lender Price. “BPS offers a unique combination of insights and custom pricing rules, providing businesses with the ability to enhance process, drive efficiency and optimize their pricing strategies.”
In the past nine months I’ve found $12.89 in singles and specie. The cash has shown up in a number of places, but most of it is from coins I picked up.
As usual, I’ll squirrel away the found funds until Thanksgiving, at which time I’ll write a check to a food bank. I’ve been doing this for a couple of decades, including a span of several years during which I had neither a vessel into which to urinate nor a casement through which to dispose of it.
This was a painless way to help others at a time when I worried nonstop about my own ability to stay afloat. Giving to others got me out of my own head, reminding me that plenty of people lived with considerably fewer resources (financial, emotional, practical) than I had.
It also reminded me that despite my fears I actually did have enough to get by. In fact, I had so much enough that I could afford to share a little with others. What richness!
Maybe you’re in a tight spot of your own, or maybe your paycheck covers the basics without much left over. But writing a check isn’t the only way to give. Our time, our talents and even our frugal hacks can make a difference in the world.
The Ultimate Social Network Why give? Because there’s need — and because it’s as good for you as it is for the people to whom you contribute.
Helping others connects us with the bigger picture, i.e., life outside our own little circles of circumstance. Giving is the ultimate social network, because it connects us with the wider world vs. the virtual one.
Suppose you spent an hour driving a veteran to the doctor and back. For you it would be an hour you could spare. For the vet you drove, it would be a lifeline.
Note: You shouldn’t give anything — even your time — if it endangers your equilibrium or your budget. A single parent with one and a half jobs already has enough on his or her plate, and you should chase the wolf away from your own door before you pick a name off the Angel Tree.
The following tips are not one-size-fits-all. For example, maybe you:
Live in a high-rise and don’t know your neighbors.
Aren’t the kind of person who would ever pick up recyclables.
Can’t donate blood for medical reasons.
But surely one of these suggestions will resonate. And if not? Share your own ideas in the comment section.
“Used,” but still useful
Charity thrift shops. Goodwill and others can use clothing, housewares, books and maybe even furniture. However, keep in mind that the stuff you think “still has some use left in it” might not be saleable. Get a receipt in case this is the year you itemize; see “Getting the most from your charitable deductions” for specifics.
The Freecycle Network. Not all chapters are created equal, but I’ve had tremendous success with people coming to get stuff I no longer need.
Got books? This American Library Association fact sheet offers information on libraries that accept donated materials.
Got children’s books? Ask if you can leave your kids’ outgrown titles in the waiting room at a public health clinic or social service agency.
Periodical sharing. When you finish with magazines, ask if it’s OK to leave them at laundromats, job-source organizations or other places adults tend to sit and wait. Cut the mailing label off the front of the mag; it doesn’t hurt to be wary even though identity theft is generally more high-tech than that.
Rags that rock. Before tossing worn-out towels or blankets, see if pet rescue groups could use them.
Holidays for kids. This doesn’t have to cost a bundle. Shop the Black Friday or pre-Black Friday sales, or the loss leaders during the holiday season. If experience has shown you which stores have the best stuff, shave off a few more bucks by paying with a discounted gift card.
Holidays for adults. Social service agencies or places of worship will likely let you know who’s in need. Shop the same sales as noted in “gifts for kids,” above, and also watch daily deal sites like My Bargain Buddy and Dealnews.com.
Clothing drives. Got a second coat, a like-new hat, an extra scarf? If you’re in a cold climate a collection box is waiting somewhere. When I lived in Alaska I carried extra hats, scarves and mittens in the trunk of my car, in case I met a homeless person who needed them. (And I did.)
Pro bono es bueno. Lawyers and doctors aren’t the only ones who donate their time, incidentally. Whether it’s social media savvy or landscape architecture, your skills might be needed by a town landmark, a group home, an elementary school.
Helping hands. Not everyone has an in-demand skill, but just about any of us can stuff envelopes or help clean up after a PTA meeting.
Teach a class. Take stock of what you know well — web design, cake decorating, Excel spreadsheets? — and offer that knowledge to others through a club, afterschool program, fraternal organization or place of worship.
Be a youth-group leader. This is a huge time commitment, and some people (including me) aren’t nuts about certain organizations’ policies on gays and lesbians. But if you can find a match — scouting, 4-H, youth sports, Sunday school — your help is needed.
Mentoring. Big Brothers/Big Sisters is the group people most often choose, but other options exist. Maybe your place of worship has a way to match kids in need with caring adults. Perhaps a professional organization arranges job-shadows for teens interested in your industry. A recent college graduate in your field might need advice and/or networking.
Yard work. Got an elderly or chronically ill neighbor who can’t manage snow, leaves or lawn? Step up.
Give blood. If the bloodmobile comes to the workplace, well, score: You get a break from the job plus juice and cookies! If not, look for blood drives. Donation doesn’t take very long and it’s a literal lifesaver.
Frugal-hack giving
Use your coupon powers for good. By combining sale prices, coupons and instant store rebates, you can pay nothing or next to nothing for toiletries, cleaning products and food items. I’ve donated numerous bags of these things to a shelter and a couple of emergency pantries.
Coupon powers, part 2. Michael’s and Jo-Ann’s have dollar sections and they run “50% off any non-clearance item” coupons in their Sunday ads. Thus I pay 50 cents for knitted gloves that aren’t good to 30 below but do keep out the chill. Shelters can use these.
Clearance tables rule! Speaking of gloves: I found them priced at two pairs for 33 cents a couple of late-winters ago. (I bought 100 pairs to give away.) Clearance tables can also yield gifts for next year’s holiday donations.
Recycle for credit. Trade in spent ink cartridges for store credit at Office Max, Office Depot and Staples, then buy school supplies to donate. Deliver office supplies to your favorite local nonprofit. Drop off teabags or coffee filters at the senior center. (Cartridge trade-in policies vary, so be clear on the rules before you do this.)
Recycle for cash. If you walk for exercise, carry a bag and pick up cans and bottles along the way. Give the money you earn to your favorite cause.
Plant a little extra. If you have one zucchini plant you have enough; if you have two, you have enough to share. Seriously: Put a few extra seeds in the ground and donate extra produce to food bank or soup kitchen.
Calendar creep. Do charities send you calendars, greeting cards and notepads? Offer calendars to teachers (animal-themed ones are a big hit with younger kids), group homes, senior centers or nonprofits, or bundle up the cards and notepads and donate them to charity thrift shops.
A non-pay phone. Got a plan with unlimited minutes? Maybe someone in a veterans’ or long-term-care home wants to call family or friends but can’t afford it. Ask a social worker if you can temporarily donate your phone on a weekend afternoon.
House-caring hack. Next time someone offers you $50 to pick up the mail and feed the cat for a week, make a counter-offer: You’ll do those chores if he or she will make a donation to the charity of your choice. If you’re a cynic, just accept the money and donate it yourself.
Readers: How do you give on a budget — or for free?
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Do you know how much a freight broker makes?
Shipping is one of the most common forms of international trade that takes place on our planet. There are many different types to choose from, like air freight, sea transport, and trucking.
Freight brokers are in high demand.
The daily tasks of a freight broker require plenty of planning, organization, and skill.
In this post, we will explore how much a freight broker makes on average each year as well as the types of employment that pay them the best salaries.
Let’s take a look at what these jobs entail:
What is a Freight Broker?
A freight broker negotiates with carriers for shipping opportunities by representing buyers and sellers interested in transportation services offered through qualified carriers or companies which may include ships as well as land-based modes such as trucks and trains.
It can be a lucrative profession if you’re skilled at it, but how much do freight brokers earn?
What is the average freight broker salary?
The average freight broker salary is $45,000. This number can vary depending on a number of factors, including the region of the country in which they work and their level of experience.
Also, as Freight 360 points out, the commission is the lucrative part of the job, and most W-2 employees make over $80K per year.
Freight brokers in the Midwest typically earn more than those in other regions. This is due to the fact that there is more business activity in this part of the country.
Those who are just starting out in this career field may not earn quite as much as those who have been working as freight brokers for several years. However, with time and experience, most people will see a gradual increase in their income.
How much does a freight broker make per year?
According to the US Bureau of Labor Statistics, the median salary for a freight broker is $46,910 or $22 an hour.
On a higher pay scale, Indeed.com lists the national average salary at $62,105 per year.
This means that 50% of all workers make more than this amount and 50% make less.
The freight broker salary is often impacted by a number of factors. One of the most important factors is whether or not the freight broker is a W-2 employee or an owner/operator of their own company.
W-2 Freight Brokers
W-2 employees are more common and make less than owners/operators. They work under a licensed freight broker and receive a base salary plus commission on each shipment they book.
Licensed Freight Brokers
Licensed freight brokers who own their own company often employ other freight brokers and may have higher earnings potential.
A freight broker is an independent business person or a broker who works with the transportation companies, agents, or brokers to renegotiate freight contracts on behalf of the shipper.
Becoming a freight broker requires a significant investment and takes a higher than average risk but it could prove to be well worth it in the long-term.
1099 Freight Broker
As 1099 independent contractors, a freight broker works under a licensed broker. But, they do not have the benefits of being a W-2 employee.
Freight broker Salaries by state
Freight broker salaries hover near the average $60000 salary. However, this salary varies widely based on location.
These statistics below are from Indeed.com.
Highest paying states
Kansas: $75,686 per year
Arkansas: $71,220 per year
Illinois: $66,448 per year
Utah: $65,250 per year
Georgia: $63,896 per year
Florida: $62,515 per year
Ohio: $62,268 per year
Texas: $61,921 per year
Iowa: $60,744 per year
Lowest paying states
West Virginia: $37,750 per year
Vermont: $38,040 per year
Alaska: $39,620 per year
Wisconsin: $39,710 per year
Hawaii: $39,920 per year
Interestingly enough, many of the low cost of living areas have the highest salaries. Whereas the lowest paying states have a higher cost of living. So, when factoring this into the HCOL vs LCOL debate, this is a highly lucrative career in those mid0west states.
Can you make good money as a freight broker?
Since you make money as a freight broker through commissions, there is no limit to what you can earn. You can make good money if you are driven to succeed and hit your sales quota each month.
Is becoming a freight broker worth it?
Being a freight broker training can be lucrative, with many freight brokers making six figures.
This business is ideal for talented salespeople who know how to cultivate long-lasting customer relationships. Freedom is one of the biggest factors for many people and it’s hard to find a job that offers this amount of freedom.
What are the most common freight broker job responsibilities?
Freight brokers are responsible for a variety of tasks, including finding shipments for their clients, negotiating rates, and arranging transportation. They must have strong analytical thinking and problem-solving skills in order to be successful in this career.
Freight brokers are responsible for a wide range of tasks, from communicating with clients and carriers to preparing and issuing invoices.
The most common freight broker job responsibilities are maintaining strong communication, collaborating with other departments, and retaining customers. Freight brokers are also responsible for ensuring that shipments arrive on time and under budget.
In addition, they also need to be familiar with the laws and regulations governing freight transportation.
Additionally, freight brokers should have a deep understanding of the transportation industry so they can provide the best possible service to their clients.
What skills are required to be a successful freight broker?
There are a number of skills that are important for freight brokers. These include, but are not limited to, customer service skills, problem solving skills, communication skills, and organization skills. Additionally, it is important to have a passion for the job in order to maximize income potential.
In order to succeed in this career, you’ll need strong computer skills. This includes being able to use Excel spreadsheets and other software programs that are commonly used in the freight industry.
What education is necessary to become a freight broker?
There are many ways to become a freight broker, but the best way to start is by taking a course from a private company. This will give you the essential knowledge and training you need to start working in this field.
DAT, one of the best companies, that provides the best load boards for truckers recommended this course.
In order to become a freight broker, you will need both experience and education. Depending on the state in which you reside, you may be required to have a certification in order to work as a freight broker.
In fact, it is one of the few well-paying careers that does not require secondary education. Most employers only need a high school diploma or GED.
What are the career prospects for freight brokers?
The freight broker job market is always on the move. The industry is constantly growing and changing, so it’s important to stay up-to-date on the latest trends.
As will all know, supply chain issues will continue and freight brokers will help eliminate the problems with logistics.
One of the best ways to get started is by working for someone else as a freight broker before moving on to become running your own business.
Unfortunately, the turnover rate for new brokerage authorities is high. Only one-third keep their designations. However, if you have the right skills and are willing to put in the work, then your career prospects are excellent.
In fact, if you keep using these good excuses to miss work, then a job change is probably needed.
How can you earn more as a freight broker?
There are many ways to increase your income as a freight broker. As a business owner or someone working on commissions, you want to do everything you can to increase your profit margin.
Use Load Boards
Freight brokers can maximize their income potential by using load boards.
Load boards are a valuable resource for freight brokers, as they provide access to a large number of shippers and carriers. When freight brokers have access to a large number of shippers and carriers, they are able to find the best matches for their clients’ shipments.
Grow with DAT load boards.
Generate More Business
If you want to increase your income, the first thing to do is to get more clients.
This can be done by either marketing yourself or networking with other businesses.
By working, harder and smarter, you will find more and retain more clients. This means taking on more jobs, learning new skills, and being efficient with your time.
Increase your Margin
Another way to increase your income is to bill more for your services. You can do this by becoming an expert in a certain area of freight shipping or by charging higher rates.
Additionally, you can work on becoming more efficient so that you can take on more clients and earn more commissions. Finally, try to focus on developing long-term relationships with clients so that you can continue to receive repeat business.
Ask for A Raise
There are a few ways to make more money as a freight broker. You can increase your base salary or commission rate.
Generally speaking, the more business a freight broker can bring in, the higher their commission rate will be. Then, asking for a raise will be easy.
Delegate Tasks
As a freight broker, you may be tempted to do everything yourself in order to save money. However, this can actually limit your earning potential.
By delegating administrative or back-office tasks to others (especially if you are a 1099 or licensed broker), you can free up more time to focus on sales and generate more revenue.
Location. Location. Location.
Location is key when it comes to freight broker salaries. The closer you are to a transportation hub, the more you can expect to make. Additionally, freight brokers in some states earn more than those in others due to differing registration fees, varying licensing and insurance requirements, and different local and state taxes.
Be Your Own Boss
In addition, by owning your own freight brokerage, you keep all of the profits. You will also have more control over the work that you do and who you work with.
This can lead to a more successful business and a higher earning potential.
Now, You Know How Much Freight Brokers Make
Is this the right career path for you?
There are many factors to consider. Many people love that these types of jobs can be done remotely and give you flexibility.
Freight brokers are in high demand due to the increasing popularity of freight shipping.
Freight broker salaries vary depending on a variety of factors, including experience, skills, and location. However, most freight brokers make a comfortable living.
Know someone else that needs this, too? Then, please share!!
Few questions are as unwelcome or unanswerable (at least in my house) as “What’s for dinner?” Every few months, I make futile attempts to meal plan or grocery shop smarter. I spread out cookbooks, I write down recipes, I make shopping lists, and then everything disappears (it seems) and I am back to my usual chaotic “It’s 4:45 and what are we going to eat again?!”
In these moments, I am much more likely to order pizza or stop by for a supermarket rotisserie chicken. Not only are these choices probably not as healthy as what we could make at home, but they are also more expensive. And at the moment, we need to cut our eating out/convenience food spending as much as possible.
I am no domestic diva, as you have already discovered. But there are plenty of people of who are. And some of them don’t even require googling. Take my mother-in-law, for example. She raised eight children on a tight budget, and I think she came up with a genius idea. Listen to this: She served the same seven meals every week. For instance, Monday was always spaghetti night, Tuesday was always chicken potpie, and so on. It meant her shopping list was the same every single week. Of course, it also means that my husband was burned out on repetition, so we definitely can’t adopt the same policy in our house. But I do think it’s a great idea.
Meal planning options
1. Emergency meals. This is the only kind of meal planning I have done successfully. And it’s not really meal planning at all, but more of a quick, one-time fix to prevent ordering pizza. Basically, post 5-10 meals inside a cupboard door that can be prepared in 30 minutes or less (I say 30 minutes because that’s how long a round trip to pick up prepared food would take in my neck of the woods). These meals should be simple and be composed of items that are shelf-stable or produce that lasts longer like carrots, onions, or frozen vegetables. In addition, always make sure you have that certain list of shelf-stable items present in your pantry. When you feel rushed or overwhelmed, check out the list.
Since we buy half a beef at a time, we always have plenty of ground beef in our freezer. I can quickly thaw ground beef, so it can be part of several of our staple meals. My kids actually prefer casseroles, one-dish skillets, and soups to slabs of meat (which is what my farmer husband prefers), so those meals make up most of our emergency meals. Never underestimate what you can create with a can of beans, diced tomatoes, pasta, or spaghetti sauce.
One of my favorite emergency meals relies on the same basic ingredients. However, by switching up the spices, cheese, and bean type, you can make the meal Mexican- or Italian-style. It’s different enough that it satisfies my husband’s need for variety.
Other emergency meal examples include spaghetti or other types of pasta, soups, and breakfast foods like eggs, pancakes, waffles, and baked oatmeal.
2. Independent menu planning. This is where I fail every time I try, but other people do this with success and claim it has revolutionized their life and their food budget.
Some people use Google calendar for this, others use spreadsheets (find a free template at the bottom of this Unclutterer post), and some people just create a paper grid and fill in the meals. However you do it, highlight the winning recipes and get rid of the duds so you don’t repeat the meals no one likes.
What I’ve heard is that most of us repeat the same 21 meals most of the time. Picking out your standard meals, maybe supplemented with one or two new recipes a month, sounds really easy. Creating a systematic way of doing this is where I fail. But here are some tips to help you:
Always menu plan at the same time every week (if planning weekly).
Create a generic shopping list with items that you get every time you shop (milk, bananas, etc.) and fill in the rest of the shopping list based on your meal plan.
If it works for you, create a basic framework of meals. For instance, Meatless Mondays, Chicken Tuesdays, Pasta Wednesdays, Slow Cooker Thursdays, and Clean-Out-The-Fridge-Fridays. Then it narrows down which type of meal you need to cook.
On busy nights, plan for quick meals.
Cook once, eat twice. For instance, plan for Roasted chicken on Tuesday and then chop the leftover chicken up and give it new life in Chicken Fettucine on Wednesday.
Maybe you want to meal plan based on the food you need to use up. If so, I use www.allrecipes.com because I can put in an ingredient I want to use up (like cilantro) and find recipes that include that ingredient.
Mark off the days that you won’t be home. This is a no-brainer, but I think this is one of my main problems: We don’t need all the meals I plan. One solution is to only plan for 4 to 5 dinners a week to allow for other plans that may pop up unexpectedly or lots of food leftovers.
3. Paid subscription services. Google “menu planning” and you will find paid subscription services that vary in their scope (although it seems like the pricing is fairly similar between the different companies).
Emeals and $5 Meal Plan are examples. You can pick from many types of meal plans (paleo, slow cooker, clean eating, etc.) and they will give you recipes, meal plans and shopping lists for at least $5 per month. Plan to eat is another one. In this case, you put in your own recipes (or use other members’ recipes). By dragging and dropping the specific recipes you want, your menu plan and shopping list are then created. It is normally $4.95/month, but they will run a Black Friday sale for 50% off a yearly subscription, starting November 28.
By Peter Anderson2 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited February 11, 2017.
I‘ve been writing about peer to peer lending on this site for some time now, mainly in reference to the P2P lending company called Lending Club. I’ve been lending money with the site for around 2 years, and to date I’ve enjoyed some pretty amazing returns. Right now my net annualized return with Lending Club is sitting at about 11.13%, which would be tough to equal in the stock market right now.
My returns have only been increasing since I’ve started following advice from a variety of other sites like nickelsteamroller.com and SocialLending.net. I’ve increased my returns from about the 8.5-9% range to the 11.13% that I’m sitting at now. I’m starting to come around to the idea that diversifying some of your holdings and putting it into P2P lending may be a much more solid proposition than some had thought in the past. I think it can be an important component of a well diversified portfolio.
Because I’m becoming more interested in social lending through sites like Lending Club and Prosper I’ve also been looking into places where I can educate myself a bit more about how this whole peer to peer lending paradigm works, and how to maximize my earnings.
While doing some research on the topic I came across a variety of good educational resources that I thought I’d share today.
Peer To Peer Lending Educational Resources
First, there are a ton of great blogs out there that focus mainly on the social lending sphere. Many of these sites have been extremely helpful for me. Here are a few of my favorites:
As with any topic, it’s a good idea to read a variety of sources, and then bring together the best of what they’re all telling you and apply it to your situation.
Video Education On P2P Lending
While the blogs mentioned above are great resources, to some degree they only scratch the surface of what’s going on when you sign up to become a P2P lender. They also tend to jump from topic to topic without giving a comprehensive guide or tutorial on how social lending works. There really is so much more depth to the strategy of P2P lending.
This past week a blogging colleague of mine, Peter Renton over at Social Lending Network, launched a new educational resource for people wanting to take their social lending experience to the next level – and set themselves up to succeed.
He launched his new video course called P2P Lending Wealth System that is designed to help investors get the most out of their P2P lending investments. It goes over both the Lending Club and Prosper platforms, and looks at how to best use their tools, as well as outside tools to improve your returns.
From an email he sent out last week, Peter describes the course:
Next week I will be launching the world’s first ever video course dedicated to p2p lending. It will be called the P2P Lending Wealth System. It is a practical, hands-on course that provides investors with everything they need to be successful.
The P2P Lending Wealth System digs deeply into the investment platforms of Lending Club and Prosper. We talk a lot about loan filtering on both platforms and we also show investors how to leverage p2p lending statistics sites Lendstats.com and Nickelsteamroller.com.
The course will have some informational slides but I really wanted to leverage the power of screencasts where I take investors through the most important components on the various websites.
He goes on to talk about some of the topics that are covered in the video program. Among them:
An Introduction to Peer to Peer Lending: He gives a background and overview of the P2P lending space talking about it’s dramatic growth and why it’s done so well.
Risks of P2P lending: He discusses some of the risks involved in social lending and what to look out for. He also talks about some of the government regulations involved.
Investing with Lending Club: He goes over the Lending Club site in depth talking about their tools they have available to you, as well as some site specific things to be aware of.
Investing with Prosper: A tutorial of the Prosper site and tools, as well as strategies to make the best of Prosper.
Maximizing your ROI: To me this is the meat of the class as it talks about how to improve your returns when lending with Prosper and Lending Club. Important stuff!
Note Trading Platforms: He goes into how to use the note trading platforms at Lending Club and Prosper and how to use them to maximize returns.
Peter’s investment strategies: Peter goes into some of his own strategies for making the best of social lending, and gives some of the tools and spreadsheets he uses to maximize his returns.
As mentioned previously I’ve already been using some of the strategies espoused by Peter, and my returns thus far have been awesome. I’ve now been watching the videos in Peter’s course, and it really extremely helpful, even for someone who’s been using Lending Club for a while like myself.
If you’re seriously considering adding P2P lending to your investment portfolio (and you should!), I’d highly recommend checking out Peter’s video course and the hours of training contained therein. You’ll be setting yourself up to have the best chance at succeeding in this new and exciting investment arena. Want to hear more about the course first hand from Peter? Click on the banner or link below to check it out.
In today’s world, it’s important to find a job that not only pays well but also lets you enjoy your life outside of work. To achieve this, it’s essential to have valuable skills that people need so much that they are willing to give you the conditions you need to live freely. In this article, we will share some high-income skills that you can learn to upgrade your career and improve your quality of life.
What Are High Income Skills?
High-income skills are specialized abilities that are in high demand in the job market and can potentially generate a significant income for individuals who possess them. These skills often require a high level of expertise and are usually transferable between industries.
High-income skills can include a range of abilities, such as those related to sales, marketing, software development, data analysis, project management, financial management, public speaking, and others. The specific skills that are considered high-income can vary depending on the industry and the job market at any given time.
Importance of High-Income Skills in Today’s Job Market
In today’s job market, traditional education and job skills are no longer enough to secure high-paying jobs. Many industries are undergoing rapid technological advancements, which means that jobs that were once secure and high-paying are now being automated. In contrast, high-income skills are in high demand and can help individuals stay relevant and competitive in their respective fields.
Furthermore, high-income skills offer individuals the potential to earn a high income, even if they do not have a traditional college education.
By mastering a high-income skill, individuals can become independent contractors, start their own businesses, or work remotely, all of which offer greater flexibility and earning potential than traditional 9-5 jobs
Differences between High-Income Skills and Traditional Job Skills
Traditional job skills refer to skills that are required for specific jobs or industries. For example, a doctor must have knowledge of medical procedures and healthcare, and a teacher must have knowledge of education and classroom management.
In contrast, high-income skills are often transferable between industries and can be used in multiple professions. For example, a person with strong project management skills could work in a variety of fields, such as construction, healthcare, or finance.
Additionally, traditional job skills often require a formal education, such as a degree or certification, while high-income skills can be learned through experience, mentorship, and practice. This means that individuals can acquire high-income skills without going into debt to pay for college or vocational training.
High-income skills are in high demand in today’s job market and offer individuals the potential to earn a high income and achieve greater flexibility and independence in their careers. Unlike traditional job skills, high-income skills are often transferable between industries and can be acquired without a formal education.
1. Copywriting
Copywriting is the art of selling by writing. It involves convincing people to take action through your writing. While it may be easy to persuade people verbally, writing to convince them to take action is a lot more complex. Copywriters are highly sought after because they are the ones who write promotional emails, home pages, and online product features.
To be a good copywriter, you need to be good with people, understand how they think, what they need, and how to best help them. You should also be skilled at structuring your paragraphs and words to make sense and sound compelling. The average salary for copywriters is around $55K, but depending on your niche, you can earn over $200K per year.
2. Sales
Sales is all about communication and convincing someone to do something. It’s not just about convincing people to buy a product they don’t need; it’s also about presenting an idea, interviewing for a job, or presenting a project to your boss. If you believe in the company you work for or the product you sell, then excellent sales skills are essential.
Average salespeople make around $50K per year, but those who work for businesses can earn six figures. If you’re good with people and passionate about helping them, sales could be the perfect fit for you.
3. Web Design
Web design involves designing beautiful websites that follow brand strategy and guidelines to develop a unique look. If you have a sense of design and creativity, web design might be the skill for you. The average salary for web designers is around $55K per year, but on platforms like Upwork, people charge between $65 to $80 per hour, which is more than $135K per year.
4. Digital Marketing
Digital marketing is the practice of promoting products or services through digital channels, such as search engines, social media, email, and other online platforms. As technology has continued to advance, digital marketing has become increasingly important for businesses of all sizes.
Digital marketing involves a variety of different disciplines and specializations, including search engine optimization (SEO), pay-per-click (PPC) advertising, social media marketing, email marketing, content marketing, and more. Each of these areas requires a unique skill set and approach, but they all share a common goal: to connect with potential customers online and drive business results.
One of the biggest advantages of digital marketing is its ability to target specific audiences with precision. Through advanced targeting options, businesses can reach the people most likely to be interested in their products or services. This can help to maximize the effectiveness of marketing campaigns and generate a higher return on investment.
Another benefit of digital marketing is the wealth of data and insights that it provides. By tracking website traffic, social media engagement, email open rates, and other metrics, businesses can gain valuable insights into how customers are interacting with their brand online. This data can be used to optimize marketing strategies and improve overall performance.
As for the salary range in digital marketing, it varies greatly depending on the specialization and level of expertise. According to Glassdoor, the average base pay for a digital marketing manager is around $77,000 per year in the United States, but this can range from $47,000 to over $117,000 depending on the location, company size, and years of experience. In specialized areas like SEO or PPC, the salary can be even higher. Freelance digital marketers can also earn significantly more by working with multiple clients and charging an hourly or project-based rate.
5. Computer Science
If you’re passionate about apps, algorithms, and online processes, then computer science might be the skill for you. This broad term can encompass many areas like data analysis, software engineering, or machine learning. The average salary for computer scientists is around $75K per year, but on platforms like Upwork, people charge between $65 to $80 per hour, with some earning up to $150K per year.
Job Title
Salary Range
Software Developer
$70,000 – $150,000
Web Developer
$50,000 – $107,000
Database Administrator
$74,000 – $122,000
Information Security Analyst
$77,000 – $130,000
Data Scientist
$85,000 – $165,000
Cloud Architect
$120,000 – $200,000
Machine Learning Engineer
$110,000 – $190,000
Please note that these salary ranges are approximate and may vary depending on factors such as years of experience, location, company, and industry.
6. Consulting
Consulting involves using soft skills like communication, negotiation, and presentation to help clients find better solutions. It’s all about asking key questions, handling emotions, and understanding your clients to serve them better. While the average salary for consultants is around $75K, it’s not accurate due to the great resignation.
Independent consultants can earn between $90 to $150 per hour, but it’s not something you can learn online. You need to learn skills like negotiation, presentation, and sales to become a good consultant.
7. Content Creation
Content creation involves creating great content that will attract people to your business. You can do it for yourself or for others, like writing, content creation, and content management. If you do it for others, you can earn between $75-$150/hour.
Content creation is the process of developing engaging content that captures the attention of an audience. It can include creating written content, such as articles, blog posts, or e-books, as well as visual content, such as images, infographics, or videos. If you have a passion for creating compelling content and are skilled at storytelling, content creation may be a high-income skill worth pursuing.
Here are some points to consider when developing your content creation skills:
Writing: The ability to craft well-written and engaging content is a valuable skill in today’s digital age. If you’re interested in writing, consider taking courses on writing techniques, storytelling, and copywriting. Practice writing regularly to hone your skills and build your portfolio.
Video Production: Video content is becoming increasingly popular, and businesses are looking for skilled video producers who can create high-quality content. If you have an interest in video production, consider learning how to shoot and edit videos, as well as how to use video editing software.
Social Media: Social media is a powerful tool for businesses to connect with their customers and promote their products or services. As a content creator, you may be tasked with developing social media content that is engaging and shareable. Consider taking courses on social media marketing and developing your social media skills.
SEO: Search engine optimization (SEO) is the practice of optimizing content to rank higher in search engine results. As a content creator, you may be responsible for ensuring that the content you create is optimized for search engines. Consider taking courses on SEO and staying up-to-date on the latest SEO best practices.
Graphic Design: Graphic design skills are valuable for creating visual content, such as infographics or social media graphics. If you have an interest in graphic design, consider taking courses on design software, such as Adobe Photoshop or Illustrator, and developing your design skills.
Overall, content creation is a versatile skill that can lead to high-paying opportunities in a variety of industries. By developing your content creation skills and building a strong portfolio, you can position yourself as a valuable asset to businesses looking to connect with their customers and build their brand.
8. Writing
Writing is a versatile skill that can open doors in various industries. Whether it’s creating content for a blog, writing copy for a website, or drafting an important business proposal, writing is a skill that can help you communicate your ideas effectively.
Strong writing skills are especially important for those working in fields like journalism, public relations, marketing, and advertising. Good writers can earn an average salary of around $60K per year, but top earners can make well into the six figures.
9. Project Management
Project management involves overseeing a project’s planning, execution, and closing phases. It requires strong organizational skills, leadership abilities, and the ability to manage resources effectively. Project managers are in demand in various industries, including construction, engineering, technology, and healthcare. The average salary for a project manager is around $80K per year, but top earners can make over $150K.
10. Public Speaking
Public speaking is the art of delivering a message to an audience. It’s a skill that’s useful in various industries, including education, sales, and politics. Good public speakers can engage their audience, convey their message clearly, and leave a lasting impression.
Public speaking can be a lucrative skill, with top motivational speakers earning millions of dollars per year. However, even an average public speaker can make a comfortable living, with an average salary of around $60K per year.
“Public speaking is a skill that can be learned and mastered with practice. It’s not about being perfect, but about connecting with your audience and delivering a message that resonates with them.”
– Grant Baldwin, author and professional speaker
11. Graphic Design
Graphic design involves creating visual content, such as logos, illustrations, and layouts. It requires creativity, technical skills, and the ability to communicate a message visually. Graphic designers are in demand in various industries, including advertising, marketing, and publishing. The average salary for a graphic designer is around $50K per year, but top earners can make over $100K.
13. Accounting
Accounting is the process of recording, classifying, and summarizing financial transactions. It requires attention to detail, strong analytical skills, and the ability to work with numbers. Accountants are in demand in various industries, including finance, healthcare, and government.
The average salary for an accountant is around $70K per year, but top earners can make over $100K. Accounting is a great career choice for those who are organized and detail-oriented. With the right qualifications, you can open your own practice or work in a large organization.
Accountants must be prepared to stay up-to-date on changing regulations and industry trends. They also must be comfortable working with computer software and technology, such as accounting programs and spreadsheets.
The Bottom Line – Increase Your Income with High Income Skills
In conclusion, acquiring high-income skills can lead to a more fulfilling career and a better quality of life. These skills can take time and effort to develop, but the financial rewards can be significant. Whether you choose to learn a new programming language, improve your writing skills, or become a better public speaker, there’s always room for growth and development in today’s job market.
By investing in yourself and developing valuable skills, you can position yourself for success and achieve your career goals.