Many Gen Zers and millennials have tabled the dream of owning a home as asking prices and interest rates skyrocket. This unaffordability means we Zillennials—the generation who grew up watching the HGTV channel—aren’t likely to zhuzh our patios into large alfresco layouts or elevate the crown molding with a pop of color the way we’ve seen on television. But being a forever renter doesn’t mean our living spaces are doomed to be bland and unoriginal; there are renter-friendly ways to customize your pad, and home decor expert Alexandra Gater and her YouTube channel have all the tips for you.
The magazine editor turned interior designer is a rising influencer in the home decor space. Her eponymous channel has more than 700K subscribers (and counting!) and features studio makeovers, decorating how-tos, and styling tips. As a 32-year-old millennial, Gater knew home ownership was a farfetched dream but didn’t believe renting meant she couldn’t make her space her own. While many popular interior design channels focused on splashier houses and mansions, she began building her content around small-space solutions and apartment renovation tips that were realistic and doable.
My best work has always come from being myself.
“I started to realize that there was a huge gap in the world of home decor and interiors—magazines often highlight the biggest, flashiest makeovers, but where was the design advice for those who rent and may never own a home?” she says. “For many, including myself, renting is a long-term reality, and I wanted to speak to that group of people to show them that having a beautiful space is absolutely possible.”
Six years later, Gater has turned this niche hobby into a blooming interior design business that specializes in accessible home design and offers virtual makeovers. The queen of DIY, Gater is always finding new tips and styling hacks to share with her followers, whether she’s adding bright and bold peel-and-stick wallpaper to a tiny bathroom or decluttering an entryway by adding built-in shelves.
Q&A
House Beautiful: What’s one piece of advice you would give your past self?
Alexandra Gater: It’s so easy to compare and get caught up in what others are doing in this industry, but staying in my lane and focusing on the niche I’ve created for myself helps me not get caught up in the comparison game. My best work has always come from being myself, and I wish my past self felt confident in that knowledge when I was first starting out. HB: What drew you to the home/design online space?
AG: The fact that I get to be creative for a living. One of the most rewarding aspects of my job is that I get to see a project from beginning to end. It’s so satisfying watching it in a video that goes live for thousands to see.
HB: What’s something you wish you’d known before you started creating content online?
AG: Things take time, and overnight success isn’t actually the goal. It’s a slow burn, but since social media trends die quickly, it can feel like you’re always behind when that’s not actually the reality.
HB: What excites you most about the design industry right now?
AG: I love that creators like myself are just so excited to try new things and new styles and not conform to what everyone else thinks is trendy. Creators are determining the trends, and it makes me feel so hopeful that I can continue to express myself freely online and try new things.
HB: What three words best encapsulate your design style?
AG: Fun, colorful, cozy.
HB: If you could transport yourself to any design era, which would it be?
AG: The 1950s, when pink was in! It’s my favorite color, and I love how we try to recreate pink kitchens and bathrooms now. What’s retro to us was just the moment then.
HB: What accounts are most inspiring you right now?
AG: I love scrolling my For You page and seeing what kind of design pops up. I love when I see something unexpected or a new, bold color that I can’t wait to try. I also love following female creators who have built strong businesses, such as Studio McGee, Justina Blakeney, and Emily Henderson, to name a few, and observing how they lead their respective brands.
HB: Where do you shop for home decor online?
AG: H&M Home for accessories, IKEA for basics to DIY and customize, Anthropologie, Target, and Article.
Have you ever wondered, “Should I move to Atlanta, GA?” From the historic streets of the Martin Luther King Jr. District to the modern vibes of the Midtown arts scene, Atlanta offers a diverse experience that’s hard to find anywhere else. Whether you’re indulging in the world-famous Georgia peach cobbler or getting lost in the vast greenery of the Atlanta BeltLine, this city has a way of enchanting its residents. In this article, we’ll dive into the pros and cons of living in Atlanta to help you figure out if this dynamic city is the right place for you. Let’s jump in.
Atlanta at a Glance
Walk Score: 48 | Bike Score: 42 | Transit Score: 44
Median Sale Price: $430,000 | Average Rent for 1-Bedroom Apartment: $1,850
Atlanta neighborhoods | Houses for rent in Atlanta | apartments for rent in Atlanta | Homes for sale in Atlanta
Pro: Thriving job market
Atlanta’s economy is booming, with a strong presence in sectors like logistics, film, and information technology. Companies like Coca-Cola, Home Depot, and Delta Air Lines offer ample employment opportunities. This diversity in industries makes Atlanta an attractive place for people looking to advance their careers. The city’s job market is a significant draw for those seeking stability and growth.
Con: Traffic congestion
One of the biggest challenges of living in Atlanta is dealing with traffic congestion. The city’s reliance on car transportation and its sprawling layout lead to heavy traffic during rush hours. Major highways like the I-285 and I-75/I-85 connector are often jam-packed, making commuting times longer than desired. This can be a daily frustration for some locals.
Pro: Rich cultural scene
Atlanta has an exciting cultural scene, with an array of museums, theaters, and music venues. The High Museum of Art and the Fox Theatre host a variety of exhibitions and performances year-round. The city’s history in the civil rights movement, explored at the National Center for Civil and Human Rights, adds depth to its cultural landscape. Atlanta’s diverse cultural offerings cater to a wide range of interests.
Con: Hot and humid summers
Summers in Atlanta can be extremely hot and humid, making outdoor activities uncomfortable during peak months. Temperatures often soar into the 90s, with high humidity levels adding to the discomfort. This climate can be a significant drawback for those who prefer milder weather or enjoy spending a lot of time outdoors during the summer.
Pro: Ample green spaces and parks
Despite its urban sprawl, Atlanta is home to numerous parks and green spaces. Piedmont Park, in the heart of Midtown, offers walking trails, sports facilities, and scenic views of the city skyline. The Atlanta BeltLine, a multi-use trail, connects neighborhoods with parks and markets. These green spaces provide residents with a much-needed escape from the urban environment.
Con: Pollen allergies
Spring in Atlanta brings a significant challenge for allergy sufferers: pollen. The city’s abundant greenery contributes to high pollen counts, affecting air quality and causing discomfort for many individuals. This can be a considerable drawback for people with severe allergies, impacting their daily life during peak seasons.
Pro: Great local sports scene
Atlanta is a sports enthusiast’s dream, home to professional teams like the Falcons (NFL), Braves (MLB), and Hawks (NBA). The city also hosts major sporting events, offering residents and visitors alike a chance to engage in the excitement. Additionally, recreational leagues and facilities for sports like soccer, tennis, and golf are abundant, providing ample opportunities for active lifestyles.
Con: Limited public transportation
While Atlanta has MARTA for public transportation, its reach is limited, making it challenging for those without cars to navigate the city efficiently. With a Transit Score of 44, the public transit system doesn’t cover all areas equally, forcing many residents to rely on cars. This limitation can be a significant inconvenience, especially for those seeking eco-friendly transportation options.
Pro: Thriving entertainment industry
Atlanta’s entertainment industry, particularly in film and television, has seen remarkable growth. The city has become a popular filming location, dubbed the “Hollywood of the South.” This boom has created jobs and brought a spotlight to the city, offering unique opportunities for locals to engage with film and television productions. Atlanta’s role in the entertainment industry adds to its dynamic and creative atmosphere.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
This ApartmentGuide article dives into the essence of life in the Empire State, highlighting the pros and cons of living there. With New York’s rich cultural heritage and endless opportunities for entertainment, dining, and outdoor activities, it’s an ideal destination for those looking to experience the best of both worlds. Whether you’re interested in upstate living with charming suburbs like Saratoga Springs, or want the hustle and bustle of Manhattan, New York has it all. Join us as we take a look on what life is like, so you can navigate what to expect.
Renting in New York snapshot
1. Pro: Diverse cultural experiences
New York is a melting pot of cultures, where you can immerse yourself in a multitude of cultural experiences. From the dazzling Broadway shows like Wicked in Manhattan to its numerous cultural festivals, such as the Greek Festival in Astoria, New York has plenty of experiences to appreciate all over the state.
2. Con: High cost of living
The cost of living in New York is significantly higher than the national average, especially in New York City where housing, groceries, and transportation can be particularly expensive. The median sale price in New York City is $776,500 and the average rent for a one-bedroom apartment is $5,147, making it challenging for residents to manage their finances comfortably.
3. Pro: Abundant natural beauty
New York boasts a variety of natural landscapes, from the scenic beaches of Long Island to the majestic Adirondack Mountains. The state offers countless opportunities for outdoor activities such as hiking, skiing, and boating, appealing to nature lovers and adventure seekers.
4. Con: Weather extremes
New York faces a range of extreme weather conditions, including flooding, severe storms, heatwaves, and winter blizzards. Additionally, heavy rainfall, exacerbated by factors like urbanization and climate change, can lead to flash floods in various regions of the state. Moreover, winter blizzards bring heavy snowfall and below-freezing temperatures, posing challenges for transportation and infrastructure maintenance.
5. Pro: World-class education institutions
New York is home to some of the world’s most prestigious universities and colleges, including Columbia University and New York University. These institutions attract individuals from all over the globe, contributing to the state’s vibrant intellectual community.
6. Con: Noise pollution
Noise pollution is a significant issue in many parts of New York, especially in urban areas. The constant background of traffic, construction, and urban activities can affect residents’ quality of life and well-being. If you’re walls are thin, you’ll want to learn how to soundproof a room.
7. Pro: Economic opportunities
As a global financial and business hub, New York offers vast economic opportunities across various sectors such as finance, media, technology, and healthcare. The city is home to Wall Street, the epicenter of the global finance industry, attracting top talent and investment from around the world. Additionally, New York City’s vibrant media landscape includes major publishing houses, television networks, and digital media companies, driving innovation and creativity in the industry.
8. Con: Traffic congestion
Traffic congestion is a common issue in New York, particularly in densely populated areas like New York City. This can lead to long commute times and increased stress for residents who rely on road transportation for their daily activities. Traffic congestion also allocates to the city’s noise pollution, stated above.
9. Pro: Culinary diversity
New York’s culinary scene is renowned for its diversity, offering everything from high-end dining experiences to street food from around the world. Food enthusiasts can explore a wide range of cuisines, reflecting the state’s multicultural population. For example, in New York City’s boroughs, one can find authentic Italian trattorias in Little Italy, while in upstate New York, be sure to try some amazing farm-to-table restaurants.
10. Con: Overcrowding in urban areas
Overcrowding is a problem in many areas of New York, particularly in New York City. High population density can lead to crowded public spaces, long lines, and a general sense of congestion, impacting residents’ daily lives. This issue is particularly evident in popular tourist destinations like Times Square and Central Park, where people gather year-round.
11. Pro: Vibrant arts scene
New York is a global center for the arts, home to iconic institutions like the Metropolitan Museum of Art, Museum of Modern Art and the The Corning Museum of Glass. The state’s vibrant arts scene includes a wide range of performances, exhibitions, and cultural events throughout the year.
12. Con: Limited affordable housing
Finding affordable housing in New York can be a significant challenge, especially in major urban centers. The high demand for housing often leads to competitive rental markets and high prices, making it difficult for many residents to find suitable accommodations.
Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.
Work doesn’t take a break when the cameras stop rolling.
Fresh off the heels of a hit new season of “Buying Beverly Hills“, the real estate power team at The Agency is bringing another showstopping property to the market, one with architectural pedigree, plenty of acreage, and a long history of celebrity owners — and guests.
Set in La Quinta, Calif., the estate once owned by game show legend Merv Griffin hit the market last week for a staggering $36 million, with The Agency’s Zac Goldsmith and Mauricio Umansky holding the listing.
This sprawling 39-acre property, nestled in the heart of California’s desert landscape, features a luxurious 5,409-square-foot main residence, a total of 13 bedrooms, 12 bathrooms, and several additional structures including guest pods (with vacation rental potential) and a gatehouse.
Renowned for its unique blend of Moroccan elegance and modern California style, the former Merv Griffin estate has been a sought-after party destination during the Coachella music festival, hosting celebrities like Post Malone, Katy Perry, and Jack Harlow.
And it boasts dazzling interiors inspired by Yves St. Laurent’s Marrakesh home. So let’s take a quick tour of this legendary celebrity home — before a buyer takes it off the market.
The estate’s grandeur
Spread across an extra generous 39 acres in the heart of La Quinta — a desert resort city in Riverside County, Calif. rightfully dubbed “the Gem of the Desert” — the property consists of seven different structures including a majestic 5,409-square-foot main residence.
Beyond its 13 bedrooms and 12 bathrooms, the former Merv Griffin estate has everything from a private lake to an orchard, equestrian facilities, and even comes with its own water supply.
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The main house
The main house alone is a sight to behold, flanked by four cozy 500-square-foot pods, a West Building, and a gatehouse, all enveloped in lush landscapes against a mountainous backdrop.
Moroccan-inspired architecture
The estate’s architecture is a love letter to Moroccan elegance, seamlessly fused with modern Californian flair. Its grandeur is matched by its design, which includes intricate chandeliers, hand-placed mosaic tiles, and circular guesthouses that add a unique touch to its layout.
See also: Bing Crosby’s Estate in Rancho Mirage — That Once Welcomed JFK and Marilyn Monroe
Designer interiors
The interiors, masterfully put together by renowned Los Angeles interior designer Waldo Fernandez, speak volumes of luxury and style. Taking inspiration from Yves St. Laurent’s iconic Marrakesh home, each room tells a story, blending Moroccan charm with a modern twist that’s as enchanting as it is welcoming.
Guest pods oozing charm
While there’s plenty to love about this idyllic desert escape, it’s the four guest pods that won us over. The charming little guest houses — which have solid vacation rental potential and have been listed on popular rental platforms alongside other structures on the property — each contain one queen-sized bed, an ensuite bathrooms with shower/bathtub combos, a gas fireplace, TV, and private entrances.
Outdoor amenities include a lake and orchards
Stepping outside, a whole series of outdoor amenities add to the appeal of the property. And they go beyond your regular pool and spa, found in most celebrity homes.
The 39-acre estate has a roughly 2.5-acre man-made lake, Lake Merveilleux, home to thriving populations of koi, bass, and turtles, an equestrian facility, and lush orchards of oranges, grapefruits, lemons, limes, pomegranates, and guavas — along with the iconic King Fig Tree, one of the largest in the Coachella Valley.
Post-Griffin era
After Merv Griffin passed away in 2007, the estate found its new owner in real estate investor Mark Majerovic, who bought it for a cool $7 million in 2013. Majerovic turned the estate into a sought-after venue for high-end vacation rentals, events, and, of course, unforgettable parties.
The ultimate party destination
Under Majerovic’s ownership, the estate embraced its new identity as party central, opening its doors to thousands of party-goers looking to experience the glitz and glamour of Hollywood in the heart of the desert.
A celeb hotspot during Coachella
A-listers like Post Malone, Katy Perry, and Jack Harlow, among others, have stayed here during the Coachella music festival, with the house playing host to a veritable who’s who of Hollywood and continuing its legacy as a landmark of high-profile entertainment.
See also: Inside Rod Stewart’s house in Beverly Park — a ritzy $74 million manor with its own soccer field
Home to a TV legend
Built by the late TV host in the 1980s, the property then became Merv Griffin’s longtime home. Griffin, most famous for hosting his talk show, The Merv Griffin Show, was a multifaceted American entertainment mogul best known for his work as a television host and the creator of two of the most famous game shows in American television history: Jeopardy! and Wheel of Fortune.
Beyond his on-screen presence, Griffin was also a successful businessman, with ventures extending into real estate and the hotel industry. And he made quite the profit from his La Quinta property, as the estate was far larger during his ownership.
The estate once spanned 240 acres
Originally spanning over 240 acres, the estate was pared down when Griffin sold off 200 acres for the Griffin Ranch community. Yet, the essence of the estate’s grandeur remains, with its 39-acre heart still beating strong.
Now listed for $36 million
After over a decade of work on the property, real estate investor Mark Majerovic is bringing the former Merv Griffin estate to market. Enlisting the help of top industry pros Zac Goldsmith and Mauricio Umansky (The Agency), the iconic La Quinta property is now on the market for $36 million, offering a rare opportunity to own a piece of luxury and entertainment history in the heart of California’s desert landscape.
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The third and newest ship in the Virgin Voyages fleet is Resilient Lady, which was christened in 2023 and adds yet another bright red vessel to the high seas.
Virgin Voyages is an adults-only cruise line known for quirky modern design, entertainment that pushes the limits and exceptional, all-included specialty dining.
Virgin Voyages Resilient Lady destinations
The Resilient Lady’s home port is in Athens, and the ship sails itineraries in the Mediterranean for part of the year. Then, to reposition itself, the ship makes a transcontinental voyage that visits Dubai, India and Southeast Asia, before cruising on to Australia and New Zealand.
The ship also spends time in Europe, making stops in the U.K., the Netherlands, Spain and Portugal, among others.
Resilient Lady ship details
Don’t expect to find a lot of differences between the Resilient Lady and its two siblings, the Scarlet Lady and Valiant Lady — all three ships are nearly identical.
On the Resilient Lady, the nearly 2,800 passengers stay in just over 1,400 cabins across seven levels, ranging from solo rooms to large, impressive suites. Passengers also have access to amenities, restaurants and entertainment across another six decks, with a jogging track and yoga deck topping things off.
Expect to come aboard and find minimalist design, trendy music, lighting that changes throughout the day and a staff that sees entertaining as their raison d’etre.
Resilient Lady accommodations
The staterooms on the Resilient Lady are unique from the get-go. Instead of a traditional room key, cabins are unlocked using a bracelet made from plastic recovered from the ocean. Nearly all of the cabins come with balconies and many have a signature red hammock, allowing guests to lounge al fresco in privacy.
There are a handful of interior cabins without an ocean view. Social Insider cabins have bunk beds and are great for groups up to four, while Solo Insider cabins are smaller and perfect for the single traveler who doesn’t need a lot of space.
Both balcony and interior rooms typically have standard — and quite small — bathrooms with good lighting and wall-mounted Red Flower toiletries in the shower.
For a real treat, reserve one of the RockStar Quarters or the Mega RockStar Quarters. Some of these suites feature terrace whirlpools, living rooms and seaview showers.
Those lodged in RockStar Quarters and other suites are treated to a private area on one of the top decks known as Richard’s Rooftop. Here, the outdoor lounge serves complimentary drinks throughout the day, with live music at certain hours and whirlpools reserved for just these guests.
Other benefits of these cabins can include access to the spa’s thermal area, free laundry, comped minibars, and priority boarding. Roundtrip airport transfers are also available for these guests, and the largest suites have real guitars and amps for ensuite, self-made entertainment.
Rock Star Coordinators, otherwise known as cabin attendants, patrol the hallways of the most premium cabins to provide assistance in the room — making the bed, cleaning, helping with the ensuite record player or delivering room service.
In all staterooms, there’s an electronic tablet that controls the lights, temperature, shades, music and television. To provide extra space in some cabins, the beds can convert to a sofa during the day and revert back to a bed by night.
Resilient Lady amenities
There’s no shortage of things to do while sailing on the Resilient Lady. You can shop in the onboard boutiques, sunbathe by the pool, play basketball, enjoy arcade games, drink at the bars, test your boxing skills or relax at the spa.
The thermal spa area has steam rooms, saunas, a salt room, plunge pools, a beauty salon and spa treatment areas. Topless sunbathing is also an option on one of the upper decks.
There’s also an outdoor jogging track and free fitness classes on a fixed schedule. For a permanent reminder of your trip, visit the onboard tattoo parlor.
Resilient Lady dining
With more than 20 dining options on the ship, you can eat somewhere different daily and enjoy a variety of global cuisines.
The restaurants on the Resilient Lady are identical to those on Virgin Voyages’ other ships, and dining at all of them is included in the cruise fare. Unlike other cruise lines, you won’t pay extra to dine at specialty restaurants aboard Virgin Voyages, though some premium menu items may cost extra.
Instead of one main dining room or buffet, there’s a food hall — akin to what you might find in a high-end shopping mall — called The Galley, serving all kinds of prepared-to-order dishes. You’ll find sushi, ramen bowls, fresh salads, burgers, all-day breakfast choices, tacos, and even bento boxes with to-go goodies to take to the cabin.
Specialty restaurants include Pink Agave, a Mexican outlet with flaming skillets for fajitas and authentic fare from around the country; The Wake, featuring steak and seafood; and The Test Kitchen, serving up molecular fusion cuisine offerings. There’s also Italian cuisine, veggie-forward spots and more.
Other favorites include an ice cream bar, a carnival-inspired, 24-hour diner with popcorn and booze-infused milkshakes, and a Korean restaurant that has guests cooking barbecue and playing drinking games during dinner.
You can also pay for a dinner theater show — which includes a multi-course meal accompanied by acrobatic entertainment — or an afternoon tea paired with Champagne.
Resilient Lady beverages
One thing not included in the cost of sailing on the Resilient Lady is alcohol. There aren’t any drink packages like you’ll find on many other cruises. Instead, you can choose to pay in advance in the form of a bar tab, or as you go. If you choose to pre-pay your bar tab, you’ll get a bonus based on how much you spend.
There are numerous bars on the ship, from the rooftop pool bar to the ship’s own tap room, where you can order a beer growler to take elsewhere on the ship. And with the cruise line’s app, you can order a glass of Champagne to be delivered to you anywhere on board with just a quick shake of your phone.
For a pick-me-up, you can find all kinds of caffeinated brews at Grounds Club, and free Intelligentsia coffee is served in different venues on the ship. Travelers can also pay extra for cold-pressed juices and barista-made coffee drinks.
Resilient Lady nightlife and shows
The ship’s main hub for evening nightlife is called The Manor. Drinks flow constantly, and nightly acts include live music, comedy and even an adult-themed comedy show with audience participation. You won’t find Broadway-style musicals aboard, but there is a Greek history-inspired song and dance show.
There’s never a shortage of entertainment and talented staff perform all over the ship in bars and lounge areas, so don’t be alarmed if someone dressed as a passenger begins performing for you.
Known as “happenings” or “pop-up moments,” these impromptu improv acts add a bit of intrigue to the cruising experience.
For those who want to belt out some tunes, there’s a karaoke room. Also on the program are a casino, drag shows, fashion shows, bar crawls and even scavenger hunts.
You’ll find arcade games, themed parties (like the Scarlet Night evening) and a full roster of staff-led activities, from dance parties to pool parties.
You can keep an eye on everything by downloading the cruise line’s app or asking reception for a printed schedule. It’s easy to get around the ship since maps are posted everywhere, and the three sets of elevators are color-coded to help you know where you are (purple is at the front, blue is at the aft).
Resilient Lady inclusions
When sailing aboard Resilient Lady, you won’t pay extra for gratuities, Wi-Fi, specialty restaurants or onboard activities. However, you will have to pay extra for alcohol, destination excursions and upgraded Wi-Fi for streaming.
The cruise allows passengers to carry on board two bottles of wine per cabin at embarkation, but no liquor. This can help cut down on the cost of beverages during the sailing. Keep in mind that the drinking age changes based on where the ship is located — in the U.S. it’s 21, while in Europe and international waters the age is 18.
Resilient Lady is a treat
Virgin Voyages has managed to transform the traditional cruise experience into something both upscale, but playful enough, to appeal to all ages.
Rarely feeling crowded, the ship is hardly as large as some of the biggest in the world, and what you’ll find on this Richard Branson-born gem is exactly what you would expect from the daring British entrepreneur. Just be sure to pack an appetite, your dancing shoes and a Titanic-sized sense of humor.
(Top photo courtesy of Virgin Voyages)
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MILAN — When Chef Eric Adjepong discussed the building blocks of his first home collection, he slipped and said he used Ghanaian ingredients to make his first home goods collection with Crate & Barrel.
“I meant materials — Ghanaian materials,” he exclaimed a second afterward.
Indeed, switching hats from the head of the kitchen to the head of design was a big change, but a welcome one. “I like the idea that these items can last forever,” as opposed to his eclectic dishes that last seconds on the palate, he said.
The 36-year-old chef and host of Food Network’s “Wildcard Kitchen”decided to return to his parents’ homeland to build this collection. “It was more than a homecoming — it was a discovery,” the first generation Ghanaian American said.
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Upon arrival in the village of Bolgatanga, he was greeted by a mini parade with music, dance and food. It was there where he came into contact with the region’s basket weavers, who showed him the entire process of Bolga basket weaving.
Bolgatanga, which is situated in northern Ghana, is a heartland of genuine Bolga baskets, which are exclusively woven by the Indigenous Gurune or Frafra people. Weavers collect beta vera straw, which is subtracted from the top of the grass, and they then leave the roots to grow.
Other products in this vibrant collection were inspired by the Ashanti Empire, which was founded in 1670 and impacted much of the modern culture of the dynamic region.
With more than 60 pieces of cookware, glassware, serveware and decor, the collection includes a Ghanaian-made market tote; the Didi Ketoa appetizer plates inspired by West African bead work; the Sobolo glass punch bowl with a green marble base, and the Akan-inspired Nkwanta Hammered Brass Punch Ladle, also indicative of the region’s artisan traditions.
The first of his family to be born in the U.S. from Ghanaian parents, Adjepong said growing up in New York City made him bold and that growing up around Albanian, Puerto Rican, Jewish, Italian, West African and Caribbean cultures greatly influenced his cooking style. Still, he’s been drawn to Ghana and travels there at least four times a year. Accra, a booming cultural hub for Afro Beats, art and fashion, is also a burgeoning pulse for both the kitchen and the design worlds, he said.
Crate & Barrel and Crate & Kids senior vice president of product design Sebastian Brauer said when contemplating new partnerships, the firm has an eye out in “special corners of the world” on what’s resonating with communities and audiences beyond just the design world, from cooking to music, technology and fashion on an international scale.
“When chef Eric’s team approached us, we saw a powerful opportunity to bring his first kitchen line to life. We worked intimately with him to celebrate his West African heritage and multicultural New York City roots and combined that with his talent as a chef with Crate & Barrel’s timeless and global design approach, to create functional pieces…,” he said.
A rising star in U.S. television, Adjepong is known for his success in bringing West African cuisine into the mainstream culinary conversation. Following experiences in several Michelin-starred restaurants, he entered the “Top Chef” circuit and was featured as a finalist on season 16. On Food Network, he has made appearances on “Selena + Chef,” “Chopped,” “Guy’s Grocery Games,” “Supermarket Stakeout” and “Tournament of Champions.” He also has a degree in culinary arts and nutrition from Johnson & Wales in Rhode Island and a masters degree in public health in international public health and nutrition from the University of Westminster in London. On Wednesday he became the Save the Children’s newest global ambassador, joining fellow celebrities Jennifer Garner, Camila Cabello and Dakota Fanning.
Eric Adjepong for Crate & Barrel’s exclusive collaboration will be available in-stores and online at Crate & Barrel from Thursday.
Crate & Barrel’s fashion-forward sister brand CB2 is also reaching further afield, scouting designers and collaborations with compelling storytelling. Last month its Black in Design Collective launched by artist and designer Evan Jerry, added leading Niamey, Niger-based architect Mariam Issoufou Kamara and Lagos-based designer Nifemi Marcus-Bello to its roster.
Do you find yourself thinking, “Should I move to Los Angeles, CA”? If you do, then you know that Los Angeles is not just any city. It’s a dynamic place where dreams take flight, and the sun almost always shines. From the iconic Hollywood sign to the bustling streets of downtown, LA is full of life and diverse cultures, making it a melting pot of ideas and creativity. Living here means you’re never far from the beach or a stunning hiking trail, offering a unique blend of urban living and nature’s beauty. Plus, with its world-famous entertainment industry, you might just bump into a celebrity while grabbing your morning coffee.
If you’re considering making the move to the City of Angels, you’re in the right place. In this article, we’ll discuss the pros and cons of living in Los Angeles to help you decide if it’s the right place for you. Let’s dive in.
Los Angeles at a Glance
Walk Score: 69 | Bike Score: 59 | Transit Score: 53
Median Sale Price: $975,000 | Average Rent for 1-Bedroom Apartment: $2,687
Explore Los Angeles neighborhoods | homes for sale in Los Angeles | houses for rent in Los Angeles | apartments for rent in Los Angeles
Pro: Diverse culinary scene
Los Angeles boasts an incredibly diverse culinary scene, reflecting its multicultural population. From authentic Mexican tacos in East L.A. to Korean BBQ in Koreatown and innovative vegan options scattered throughout the city, there’s something to satisfy every palate. The city is also home to numerous Michelin-starred restaurants, including Providence, Mélisse, and Somni. These exquisite dining experiences draw food enthusiasts from around the globe to LA.
Con: Traffic congestion
One of the most notorious aspects of living in Los Angeles is its traffic congestion. With a lower Transit Score of 53, the city’s sprawling layout, and heavy reliance on car transportation mean residents often face long commute times. This problem becomes more intense, especially during rush hours. This can lead to increased stress and less free time for leisure activities or family. Despite efforts to improve public transportation, traffic remains a significant challenge for the city.
Pro: Entertainment industry hub
Los Angeles is globally recognized as the heart of the entertainment industry. Home to Hollywood, it offers unparalleled opportunities for those aspiring to careers in film, television, music, and beyond. Similarly, musicians have a lot of opportunities with renowned music venues like the Troubadour and the Hollywood Bowl nearby. The city also hosts numerous film premieres, award shows, and industry events, providing locals with a front-row seat to the entertainment world. This vital sector also contributes to the city’s dynamic cultural landscape and economy.
Con: High cost of living
The cost of living in Los Angeles is 50% higher than the national average. From housing to groceries, nearly every aspect of daily life tends to come with a hefty price tag. The city consistently ranks among the most expensive places to buy a home in the United States, with sky-high rents and property values making homeownership a distant dream for many. The exorbitant cost of living in Los Angeles poses a significant challenge for residents, especially those with modest incomes or limited financial resources.
Pro: Beautiful weather
Los Angeles is famed for its mild, sunny climate year-round, making it an ideal location for outdoor enthusiasts. The city boasts an average of 284 sunny days per year, allowing residents to enjoy beaches, hiking trails, and parks regularly. This pleasant weather also supports a lively outdoor dining and social scene, contributing to the overall quality of life in the city.
Con: Air quality issues
Despite its sunny skies, Los Angeles struggles with air quality issues, primarily due to vehicle emissions and industrial pollution. The city frequently ranks among those with the worst air pollution in the nation, which can pose health risks, particularly for individuals with respiratory conditions. Efforts are ongoing to improve air quality, but it remains a concern for residents.
Pro: Cultural diversity
Los Angeles is a melting pot of cultures, offering a rich tapestry of experiences that reflect its diverse population. The city celebrates this diversity through numerous cultural festivals, museums, and neighborhoods like Little Tokyo and Little Armenia. This cultural richness enhances the social fabric of Los Angeles, fostering a sense of global community and understanding among its residents.
Con: Water scarcity
Located in a region prone to droughts, Los Angeles faces ongoing challenges with water scarcity. This environmental issue affects everything from residential water use to the sustainability of local agriculture. Residents are often subject to water usage restrictions and are encouraged to adopt water-saving measures, highlighting the importance of conservation in the city’s daily life.
Pro: Innovative tech scene
Should I move to Los Angeles if I don’t want to be in entertainment business? Los Angeles is not just about entertainment; it’s also a growing hub for the tech industry, often referred to as Silicon Beach. The city attracts startups and established tech companies alike, offering opportunities in digital media, aerospace, biotech, and more. This burgeoning tech scene provides a wealth of employment opportunities and fosters a culture of innovation and entrepreneurship.
Con: Seismic activity
Los Angeles is situated in a region with significant seismic activity, making earthquakes a reality of life in the city. While strict building codes and emergency preparedness efforts aim to mitigate the impact, the threat of a major earthquake is an ever-present concern for residents. This geological reality influences everything from insurance costs to personal and community safety measures.
Pro: Access to nature and recreation
Los Angeles offers easy access to a wide range of natural landscapes and recreational activities. From the beaches of Santa Monica and Malibu to the hiking trails in the Santa Monica Mountains and skiing opportunities just a few hours away, the city is perfectly positioned for those who love the outdoors. This access to nature contributes significantly to the lifestyle benefits of living in Los Angeles.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
Los Angeles is an undeniable international creativity, entertainment, and innovation hub. Known for its sprawling footprint, the city offers a unique blend of glamor, culture, and cutting-edge industry, attracting millions of visitors and new residents each year.
From the iconic Hollywood sign to the bustling streets of Downtown LA, the city is a hotspot for artists, entrepreneurs, and dreamers.
Whether you’re soaking up the sun on one of its world-famous beaches or moving to the City of Angels to pursue your loftiest dreams, Los Angeles promises an unforgettable experience. Let’s dive into ten specific things that make Los Angeles a city like no other.
1. Hollywood Sign
The Hollywood Sign is not just the landmark of one of LA’s most iconic neighborhoods; it’s a symbol of dreams, ambition, and the global entertainment industry. Perched on Mount Lee in the Hollywood Hills, this iconic sign originally advertised a local real estate development in 1923. Today, it’s a must-see for tourists and a constant reminder of the city’s pivotal role in film and television. The sign’s towering letters have watched over countless film productions and continue to inspire those who come to Los Angeles hoping to make a mark in the entertainment world.
2. Griffith Observatory
Griffith Observatory offers breathtaking views of Los Angeles and the cosmos. Situated on the southern slope of Mount Hollywood in Griffith Park, this observatory is as much a gateway to the stars as it is a stunning vantage point for viewing the city’s expansive landscape. Inside, visitors can explore exhibits about space and science, watch live shows in the planetarium, and peer through telescopes to gaze at the celestial wonders.
3. Venice Beach
Venice Beach is renowned for its eclectic boardwalk, talented street performers, and picturesque canals that mirror its Italian namesake. This beachfront neighborhood captures the essence of California’s free spirit with its skate parks, mural-covered buildings, and boutique shops. Whether you’re watching the skilled skateboarders, shopping for unique souvenirs, or simply enjoying the sun, sand, and surf, Venice Beach provides an unforgettable slice of Los Angeles’ laid-back lifestyle.
4. The Getty Center
The Getty Center stands out as a monumental testament to art, architecture, and stunning gardens. Sitting atop the Santa Monica Mountains, it has panoramic views of Los Angeles and houses an impressive collection of artworks spanning centuries. From European paintings to modern sculptures, the Getty’s exhibits are as diverse as the city itself.
5. Los Angeles County Museum of Art (LACMA)
Los Angeles County Museum of Art, or LACMA, is the largest art museum in the western United States, showcasing an extensive collection that spans geographical boundaries and historical periods. From ancient artifacts to contemporary pieces, LACMA offers something for every type of art enthusiast. The museum is also home to Chris Burden’s “Urban Light,” a captivating installation of restored street lamps that has become an iconic photo spot for visitors and locals alike.
6. Universal Studios Hollywood
Universal Studios Hollywood is a thrilling blend of an amusement park and a working movie studio, providing visitors with an immersive entertainment experience. Here, you can explore the wizarding world of Harry Potter, face off against dinosaurs in Jurassic Park, or take a behind-the-scenes tour of real film sets. It’s a unique opportunity to dive into the magic of movie-making and enjoy rides and shows based on popular films and TV shows.
7. Hollywood Walk of Fame
The Hollywood Walk of Fame stretches along Hollywood Boulevard, paying tribute to stars from the entertainment industry. With over 2,600 brass stars embedded in the sidewalks, it honors actors, musicians, directors, producers, and fictional characters. Tourists flock here to find the stars of their favorite celebrities and capture a piece of Hollywood history. The Walk of Fame is a testament to the city’s enduring impact on entertainment.
8. Santa Monica Pier
Santa Monica Pier is a classic symbol of California’s beach culture, with amusement park attractions, family-friendly restaurants, and stunning ocean views. The pier’s Ferris wheel and roller coaster add a nostalgic charm to the seaside setting. It’s a popular spot for fishing and, at night, the lit-up Ferris wheel creates a magical backdrop against the Pacific Ocean.
9. The Broad
The Broad is a contemporary art museum in Downtown Los Angeles, known for its innovative architecture and extensive collection of post-war and modern art. Founded by philanthropists Eli and Edythe Broad, the museum houses over 2,000 works of art, including pieces by Andy Warhol, Jeff Koons, and Roy Lichtenstein. Admission is free, making it an accessible destination for artsy types and casual visitors alike.
10. Dodger Stadium
Dodger Stadium is the historic home of the Los Angeles Dodgers and so much more than just a ballpark. Located in the Elysian Park neighborhood, it offers stunning views of the downtown skyline and the San Gabriel Mountains. Attending a game here is a quintessential LA experience, complete with sunny skies, cheering fans, and the chance to catch a fly ball. Beyond baseball, Dodger Stadium hosts concerts and events, making it a versatile venue in the heart of Los Angeles.
In the vast and sun-kissed state of California, the allure of urban living is redefined by its major cities, each offering a diverse culture and lifestyle. This ApartmentGuide article takes you on a journey through the vibrant streets of Los Angeles, where the entertainment industry meets a melting pot of cultures, to the scenic beauty and laid-back vibe of San Diego, showcasing the state’s dynamic rental markets. Renters are drawn to California not just for its weather but for the promise of a lifestyle that blends urban convenience with natural beauty, from the sprawling beaches to the bustling city centers. Here are the major cities in California to consider moving to.
1. Los Angeles, California
Population: 3,898,747 Average rent for a one-bedroom apartment: $2,614 Average rent for a two-bedroom apartment: $3,700 Los Angeles, CA apartments for rent Los Angeles, CA homes for sale
Los Angeles is known for the Hollywood Sign, Griffith Observatory, and the Santa Monica Pier. Visitors flock to Universal Studios Hollywood for a glimpse behind the scenes of their favorite films and television shows, while art enthusiasts explore the prestigious Getty Center for its impressive collection spanning centuries.
2. San Diego, California
Population: 1,386,932 Average rent for a one-bedroom apartment: $2,744 Average rent for a two-bedroom apartment: $3,617 San Diego, CA apartments for rent San Diego, CA homes for sale
With a desirable climate, miles of sandy beaches, and natural deep-water harbor, San Diego is a perfect place to live. The city offers a laid-back lifestyle with a strong focus on outdoor activities, including surfing, boating, and hiking. Cultural attractions like the San Diego Zoo, Balboa Park, and numerous museums provide enriching experiences.
3. San Jose, California
Population: 1,013,240 Average rent for a one-bedroom apartment: $2,711 Average rent for a two-bedroom apartment: $3,255 San Jose, CA apartments for rent San Jose, CA homes for sale
San Jose, the heart of Silicon Valley, is a global tech hub with a bustling economy. The city is home to numerous tech companies like Meta, innovative startups, and a diverse population. Residents enjoy a high quality of life, great educational institutions, and a variety of cultural and recreational activities.
4. San Francisco, California
Population: 873,965 Average rent for a one-bedroom apartment: $3,479 Average rent for a two-bedroom apartment: $4,518 San Francisco, CA apartments for rent San Francisco, CA homes for sale
San Francisco is known for its iconic Golden Gate Bridge, historic cable cars, and vibrant cultural scene. The city’s diverse neighborhoods offer a wide range of dining, shopping, and entertainment options. The city’s scenic beauty and cultural richness make it a captivating place to call home.
5. Fresno, California
Population: 542,107 Average rent for a one-bedroom apartment: $1,337 Average rent for a two-bedroom apartment: $1,652 Fresno, CA apartments for rent Fresno, CA homes for sale
Fresno serves as the agricultural heartland of California, offering a blend of urban and rural living. The city is a gateway to the Sierra Nevada mountains, providing easy access to outdoor adventures in Yosemite National Park and beyond. Fresno’s cultural scene is growing, with local wineries, farm-to-table restaurants, and art venues enriching the community.
6. Sacramento, California
Population: 524,943 Average rent for a one-bedroom apartment: $1,872 Average rent for a two-bedroom apartment: $2,087 Sacramento, CA apartments for rent Sacramento, CA homes for sale
Sacramento, the state capital, is rich in history and political activity. The city has many beautiful parks like Capitol Park, and a growing farm-to-fork movement. Sacramento’s riverfront location offers scenic beauty and recreational activities, making it an appealing place for those seeking a dynamic yet laid-back lifestyle.
7. Long Beach, California
Population: 466,742 Average rent for a one-bedroom apartment: $2,230 Average rent for a two-bedroom apartment: $2,885 Long Beach, CA apartments for rent Long Beach, CA homes for sale
Long Beach is a coastal city with a diverse population and a strong sense of community. The city is known for its waterfront attractions, including the historic Queen Mary and the Aquarium of the Pacific.
8. Oakland, California
Population: 440,646 Average rent for a one-bedroom apartment: $2,460 Average rent for a two-bedroom apartment: $3,325 Oakland, CA apartments for rent Oakland, CA homes for sale
The city of Oakland offers a rich culinary landscape, with an array of international cuisines. Oakland’s parks and green spaces, including the expansive Redwood Regional Park, provide residents with ample outdoor recreation opportunities.
9. Bakersfield, California
Population: 403,455 Average rent for a one-bedroom apartment: $1,445 Average rent for a two-bedroom apartment: $1,632 Bakersfield, CA apartments for rent Bakersfield, CA homes for sale
Bakersfield is known for its strong agricultural industry and as the birthplace of the Bakersfield sound, a genre of country music. The city offers a close-knit community with a slower pace of life. Residents enjoy a variety of outdoor activities, including exploring the nearby Sequoia National Forest.
10. Anaheim, California
Population: 346,824 Average rent for a one-bedroom apartment: $2,055 Average rent for a two-bedroom apartment: $2,550 Anaheim, CA apartments for rent Anaheim, CA homes for sale
Anaheim is globally renowned for its theme parks, including the iconic Disneyland Resort. Beyond the parks, the city offers a vibrant sports scene, with professional hockey and baseball teams. The city’s mix of entertainment, sports, and dining makes it a lively place to live.
Methodology : The population data was retrieved from the United States Census Bureau for 2021, while the average rental data was sourced from Rent.com in March 2024.
No matter what age you are, it’s never too soon to start thinking about — and actively saving for — your retirement. With reports coming out regularly about the severe retirement savings gap in the U.S., it seems as though the majority of Americans are vastly underprepared for this life event.
If your employer offers a 401(k) at your place of work, this is a great way to get started (or continue) saving for your golden years. Before you jump in, find out exactly what a 401(k) is and how it can help you prepare for retirement. If you already contribute to a 401(k) plan, make sure you know what to expect when it comes time to retire.
How does a 401(k) work?
A 401(k) plan helps you save while investing your contributions in various mutual funds. Employers offer this type of retirement plan, so you can’t sign up for one unless you go through your place of work.
As an incentive to save, you receive a tax break. Depending on the type of 401(k) you choose (or your company offers), you either receive that tax break when you make the contribution or when it comes time to withdrawal.
Employer 401(k) Matching
Many employers offer a match to any contribution you make. This usually happens in one of two ways: they’ll either match dollar for dollar up to a certain limit or up to a percentage of your salary.
The most common type of 401(k), the traditional 401(k), allows you to make any contribution tax-deductible each year. So if you contribute $6,000 a year, you get to knock that off your taxable income amount. If you’re on the edge of a tax bracket and make a sizeable 401(k) contribution, you might even be able to jump down into a different bracket with a lower tax rate.
401(k) Tax Rules
While your investments continue to grow each year, they remain temporarily protected from taxation. Unlike other types of investments, you don’t pay any annual tax on your 401(k) earnings until you start to make withdrawals. At that point, you’ll be subject to regular income tax when you take out money each month.
As you continue to make 401(k) contributions throughout your year, you can adjust your investments to become increasingly less volatile. The idea is that as you get closer to retirement age, you have less risk to ensure a solid nest egg when you need it.
The Benefits of a 401(k)
A 401(k) is a retirement savings plan sponsored by an employer. It allows employees to save and invest a portion of their paycheck before taxes are taken out. Contributions to a 401(k) are made with pretax dollars, which can lower your taxable income in the current year and potentially result in a lower tax bill.
Some other benefits of a 401(k) include:
Employer matching contributions: Many employers will match a portion of their employees’ 401(k) contributions, effectively giving you free money to save for retirement.
Tax-deferred growth: Any investment earnings on your 401(k) account grow tax-free until you withdraw the money in retirement.
Potential for tax credits: Depending on your income and participation in a 401(k) or other qualified retirement plan, you may be eligible for certain tax credits that can help reduce your tax liability.
Retirement income: A 401(k) can provide a source of income in retirement, which can help you maintain your standard of living when you are no longer working.
Convenience: Many 401(k) plans offer a range of investment options, and the contributions are automatically deducted from your paycheck, making it easy to save for the future.
The money you withdraw from a 401(k) in retirement is subject to income tax, and 401(k) plans have contribution limits. However, overall, a 401(k) can be a valuable tool for saving for the future and reducing your tax liability.
401(k) Contribution Limits
There are limits to your 401(k):
While it’s a great financial tool, you can only contribute up to $22,500 each year, amounting to $1,875 per month if you divide it out monthly. If you’re over the age of 50, you’re allowed to contribute up to $30,000 a year ($2,500 per month). These contribution limits are in place so that you can only benefit from so much tax savings each year.
Required Minimum Distributions
Another rule associated with a 401(k) is that you must start taking “required minimum distributions” at some point. That means once you hit a certain age, you must begin withdrawing funds from your 401(k) account — and paying taxes on them.
Currently, the requirement is that you start taking distributions the year after you turn 70 ½. Then you have to take out distributions by December 31 of each following year. Your minimum required amount is determined by the IRS based on your life expectancy. There’s nothing quite like a government tax agency predicting your lifespan, is there?
Still, this information helps you determine what kind of tax burden you can expect when you’ve finally retired. While your income may be lower, your deductions might be as well. After all, you probably don’t have kids left at home to claim as a deduction. And if you’ve paid off your mortgage, you won’t have that interest to deduct either.
It’s great not to have those expenses, but it can be helpful to talk to a tax professional to get a better idea of your taxes, especially in that first year of retirement or required minimum distributions. The more prepared you are, the more financial flexibility you can have!
401(K) Plan Types
There are two main types of 401(k) plans: traditional 401(k)s and Roth 401(k)s.
A traditional 401(k) allows you to contribute pretax dollars to your account. Your contributions and any investment earnings in the account are tax-deferred. This means you won’t have to pay taxes on them until you withdraw the money in retirement. When you withdraw the money in retirement, it is taxed as ordinary income.
A Roth 401(k) is similar to a traditional 401(k), but contributions are made with after-tax dollars. This means you won’t get an immediate tax break on your contributions, but qualified withdrawals from the account in retirement are tax-free.
Some 401(k) plans may offer both traditional and Roth options, allowing you the flexibility to choose the type of plan that best meets your needs.
There are also types of 401(k) plans that are designed for specific types of employers, such as safe harbor 401(k)s and SIMPLE 401(k)s. These plans may have different contribution limits and rules for employer matching contributions. So, it’s important to understand the details of the plan you are enrolled in.
What’s the difference between a traditional 401(k) and a Roth 401(k)?
While a traditional 401(k) offers upfront tax savings in return for taxes paid later during retirement, a Roth 401(k) flips the situation around. Instead, your contributions are made with your taxable income. In return, you don’t have to pay any taxes when you start withdrawing from your account during retirement.
While you miss out on tax savings upfront, you’re only paying on the original contribution amount. If you had to pay taxes when you withdraw, you’re also paying taxes on everything you’ve earned, which is hopefully a lot more money than you started with.
Roth 401(k) Requirements
There are requirements to qualify for the Roth 401(k) benefits:
First, your account must be open for at least five years. You also have to wait until you’re at least 59 ½ before you can start taking distributions, unless you’ve had a disability.
A Roth IRA is particularly useful if you’ve accumulated a lot in retirement savings and other investments. While many people have less income when they retire, that’s not always the case. You may have a comprehensive portfolio of investments, in which case you could be better served by not paying taxes on at least part of your withdrawals.
If you’re nearing retirement and expect to drop in your tax bracket soon, there may be no sense in using a Roth 401(k) now. A Roth 401(k) can be a great choice if you have a lower income now because you’re earlier in your career or have tons of tax deductions because of kids and a mortgage.
Like all retirement plans, there are better products for different points in your life. By constantly reassessing how you contribute to your retirement savings, you can maximize your tax benefits now and in the future.
See also: IRA vs. 401(k): Where Should You Invest Your Money?
Employer Contribution Match
An employer contribution match is a feature of some 401(k) plans in which the employer agrees to contribute a certain amount of money to an employee’s 401(k) account based on employee contributions.
For example, an employer might offer a 50% employer match on the first 6% of an employee’s salary that the employee contributes to their 401(k) account. In this case, if the employee contributes 6% of their salary to their 401(k), the employer would contribute an additional 3% (50% of the employee’s contribution).
Employer contributions are a way for employers to encourage their employees to save for retirement and to provide an additional source of retirement income for their employees. Employers may also use contribution matching as a way to attract and retain top talent.
Employer contribution matches may have certain rules and requirements, such as vesting periods, that determine when an employee becomes fully entitled to employer contributions. Make sure you understand the details of any employer contribution match offered by your employer to make the most of this benefit.
What happens if you leave your job?
Don’t worry. You don’t lose your 401(k) savings if you leave your current employer. You typically have a few different options available to you. First, you can leave it in the company plan if they allow it. You won’t be able to continue making contributions or any changes to your allocations. But you can access it when you’re ready to retire.
401(k) Rollover
Or you can do a rollover:
A rollover allows you to switch the funds to another retirement plan without paying any tax penalties. You can either do an IRA rollover or use a plan from your new employer. You do need to make sure your new employer’s plan allows for rollovers.
Then you can continue your contributions as normal, following the rules of the new account, whatever it may be. An IRA is always a viable option because you’re in control of how you invest. And while the annual contribution limit is $6,500 (or $7,500 if you’re 50 or older), it doesn’t count when you’re rolling over funds.
Your final option for handling your 401(k) when you leave your job is to cash it out. If you do this, you’ll be subject to all the relevant penalties. These include a 10% early withdrawal penalty and income taxes for both federal and state. The exception to the early withdrawal penalty is if you are at least 55 years old when you leave your employer.
How much should you contribute to your 401(k)?
How much you decide to contribute to your 401(k) should depend on numerous factors. At the very least, you should contribute the maximum amount allowed to receive a matching contribution from your employer. That essentially equals free money, which you should never pass up.
Next, think about your financial picture as a whole. What kind of debt do you have? If you have any high-interest credit card or loan balances, you may want to focus your efforts on paying those down before contributing more to your retirement plan. Lower interest debts, like a fixed student loan, may not be as pressing to repay.
Furthermore, consider these recommended saving strategies:
Emergency Fund
You’ll probably want a three to six-month emergency fund in case you lose your job or get a sudden illness or injury. Having a large chunk of money stashed away in an easy-to-access savings account can provide you with financial security here and now.
Roth IRA
Once you’ve got your overall savings plan in order, it’s time to start figuring out where else to invest for retirement. Before you max out your traditional 401(k), think about picking up a Roth IRA. This helps you diversify your retirement plans for tax purposes.
Like a Roth 401(k), a Roth IRA lets you pay taxes on your contributions now, so you don’t have to pay anything when you make withdrawals during retirement. It can certainly help you spread out your tax burdens over the course of your life.
Still have money left over to invest?
If you do, revisit your 401(k). Remember, you can contribute up to $22,500 so you can certainly divert more of your income towards that maximum.
How else should you prepare for retirement?
Preparing for retirement takes a constant reassessment of your current needs versus your future goals. As easy as it is to say, “You need to contribute this-many-thousands of dollars a year to survive retirement,” the reality is that it’s much harder to actually do that.
But saving for retirement is still a challenge worth conquering. Even if you’re in your 40s and haven’t started saving a dime, you can start today. Once you’ve got your current savings fund in place that you can use for emergencies, implement some of these easy tips to get ready for retirement.
For now, worry less about picking the perfect type of account and focus on the habit of retirement saving.
Here are some ideas to get you started:
How to Save Extra Money:
Downsize your living expenses, one step at a time.
Place your tax refund into a retirement account.
Stream television instead of paying for cable.
Cut back on eating out.
Stay healthy to reduce future healthcare costs.
Pay down high interest debt like credit cards.
Sell your stuff and put the money towards retirement.
How to Strategically Manage Your Retirement Accounts:
Create a retirement savings goal as a percentage of your income.
Pay yourself first by setting up auto direct deposit to your retirement account on payday.
Take advantage of higher IRA contribution limits when you’re 50+.
Audit your accounts every year.
Consolidate multiple accounts (like IRAs) to reduce fees.
Put your end-of-year bonus into a retirement account.
Bottom Line
Investing in your retirement is really investing in yourself. Taking advantage of your employer’s 401(k) is an important part of the equation. In addition to making regular contributions, be sure to explore all of your options for financing your retirement. A healthy portfolio mix isn’t difficult to develop, and there are plenty of resources available to help you get started.