This is a guest post from Mrs. Micah of Finance and Life. Look for a related post later today.
Getting an interest-only mortgage can seem like a great idea when you’re trying to buy a house and can’t afford a down payment (or if you have bad credit). Earlier this week, I read the story of a couple who are celebrating home-ownership under just such a situation. But while they’re happy, odds are that this is actually a disaster waiting to happen.
The Pros
There are two reasons an interest-only mortgage might work out for you:
Reason #1: You’re a house flipper. No down payment, lower monthly payments for ten years — since you’re flipping, you probably plan to have the house for less than a year. Why bother paying more? Using interest-only means that you can direct more capital into fixing up the place.
And since your goal is to increase the value of the house, you probably won’t have to sell it for less than the mortgage. Congrats. You have an excellent reason to take out an interest-only mortgage.
Reason #2: You plan the stay in the home for all 30 years. In the end, you’ll spend the same amount of money with an interest-only or a normal mortgage. If you plan to stay in the home, have a well-paying and steady job (perhaps you work for the government and the bureaucracy make you impossible to fire), and want to invest the money you’ll save in the beginning to take advantage of compounding, then get the mortgage if you absolutely must.
The Cons
Here are two reasons an interest-only mortgage is probably a bad idea:
Reason #1: You don’t build equity Imagine you have a $100,000, 30-year mortgage at 6.25% with the first ten years as interest-only. (The calculators listed at the end of this article can help you run the numbers for different values and rates.) While the money you pay for those first ten years — $62,500 — will have value if you stay there for the full thirty years, it will be little or no better than renting if you move earlier.
Actually, it could be much worse than renting. If you need to sell before the interest-only period is over, you’ll still owe the full value of the mortgage ($100,000 in our example). If you can sell it for more, you come out ahead. But if you sell it for less, you’ll still owe the difference. In today’s housing market, that’s particularly worrying, since the odds are high that your property value will decrease.
So if the house sells for only $95,000, you’ll owe the $5000. When selling your home, there’s always a risk that you’ll lose money anyway, but an interest-only mortgage dramatically increases it. (And these are low numbers — suppose the mortgage is $250,000 and you sell it for $225,000!)
On the other hand, by going fully-amortized during those first ten years, you could build $15,223.87 in equity. That’s more than you’ll save by paying interest-only. Under an interest-only plan, it’s only around the 25-year mark that the equities equalize. Until then, you’d be ahead with the normal mortgage.
Reason #2: The amount due will increase In this example, having an interest-only mortgage saves you $94.89/month at the beginning. That’s $11,386 in payments over the first 10 years. However, after the 10 years, your payments go up by $210/month. Now you’re paying over $100 more than the amortized rate and you have to find that extra money in your budget.
This might make financial sense, say, if you were in a secure job or field where you could be sure that you’d have the extra money within 10 years. But what if you lost your job (see #1 about having no equity)? Or what if you had more children and expenses? In the world of finance there are few guarantees — except that if you can’t pay the new rate and can’t refinance, you’ll be in trouble.
Looks like a bad deal, doesn’t it?
The Decision
Before you say an interest-only mortgage fits you, think long and hard. Consider the reasons it’s a bad idea for most people. If you’re the one in a million who actually could pull it off, then go in with eyes wide open. And best of luck to you!
Otherwise, I suggest that you avoid these like the plague. Are they better than adjustable-rate mortgages (ARMs)? I don’t know. Possibly, since you should know ahead of time what you owe and what the interest rate will be. But it’s like comparing arsenic and cyanide. You’re best off not taking either.
Breaking up is usually an emotionally charged situation, but one thing’s for sure: the wrong words in the moment can make it a lot worse. Oftentimes, our brain in the heat of the battle will think of replies that are not only unhelpful and hurtful to both parties, but sometimes downright funny—all due to their sheer inappropriate nature. To help you survive breakups without incident (and perhaps spare your pride), here’s a list of 20 things you should avoid saying when ending a relationship for good.
1. It’s Just You
One user shared, “Her: ‘Is it someone else?’ Me: ‘No, it’s just you.’”
Another user replied, “My ex was insistent that I was leaving him b/c I wanted to go fuck other people and ‘you probably already are.’ I wasn’t cheating. I left him because he tried to kill me and still he was pointing fingers at anyone else.”
One added, “Sometimes it’s important that someone knows this, though. Because if it’s someone else, and they don’t work out, it means you’ve still got a chance. If you’re the reason the breakup is happening then you know it’s probably over. Edit: some of the responses are suggesting I think it’s a good idea to get back together with someone like this. I do not. I am mostly saying that closure is good.”
“I hope you kept a straight face, nodded and said that they deserve better than that…,” one user added.
2. I Missed Your Parents More Than You
“Two months after our breakup, she asked me if I missed her. I told her I missed her parents more than I missed her,” said one Redditor.
Another user also shared, “I was in a 5 year relationship with a guy who had a huge and absolutely lovely family. His mom had 10 siblings, and everyone was super close in the best kind of supportive way. Most of our friends were his cousins and his grandparents treated me like I was one of them. That relationship ran on a little longer than it should have simply because I didn’t want to lose that family. Never saw any of them again after the breakup and I still miss them, even ten years later.”
One commenter also replied, “My ex-wife’s brothers were at my wedding to my current wife. They fully support me, which is nice. They are probably two of my best friends to this day.”
Another user replied, “My MIL still includes an ex-SIL in family events (where appropriate). She’s still the mother of my kids’ cousins, so she’s still in our lives, but when they do a Girls Night with my wife and other women in the family they include her, because, well, she’s a lovely person and nobody stopped loving her just because her marriage didn’t work out.”
3. I Don’t Love You
“The worst is telling someone you don’t love them anymore and genuinely seeing the heart break on their face. That’s a gut wrenching thing to see when you know your words caused it,” one user stated.
Another user confirmed, “Let me tell you, it’s not great hearing it either.”
Another Redditor replied, “It’s the kind of thing you hear that makes your face hot and your ears ring — it feels unreal. My fianceé just left me after telling me that she loves me but she isn’t IN love anymore and it left me broken, replaying infinitely every time I close my eyes. I see her unaffected facial expressions and her lips moving in slow motion and my heart sinks each time like the first time I heard it.
“Edit: Thank you to everyone who said it gets easier as the vision stops appearing so frequently. I have my first therapy appointment on Friday since everything went down and I’m looking forward to it. It blows me away how kind people can be here.”
One user responded, “I won’t say it gets better, but eventually you’ll go a whole day without thinking about it, then later a whole week, and eventually a whole month.”
Another user then added, “And the beauty of it all is although they may not love you anymore, at one point someone loved you so you know you aren’t incapable of being loved, it just means someone new can love you again. (Oddly enough learned that from the Simpsons, really helps me get through tough times.)”
4. It’s Unpleasant
A user commented, “It’s unpleasant.
I’ve had that said to my face. Unfortunately, the memory of it is seared into my brain—probably forever.”
Another user added, “God yeah. Love of my life said it to me and it was absolutely crushing. “I don’t know if I’ve ever loved you”.
One also replied, “I got that one and then asked her to come back. Made no sense. I didn’t trust her at all anymore.”
Another user added, “I’m gonna be honest with you here. She did the same thing with me lmao. But in my case she was going through an extreme bout of depression and that’s one of the things that can happen. Aaaaaaaand we got back together. It’s been 8 years since then and we’re married now.”
Another user added, “This is a relationship. They don’t go in a straight line where you constantly ‘love’ one another. Relationships meander, they bend and curve up and down. One day you’re happy the next you could be depressed. One day you could be in an argument the next sick. Relationships are built on trust, understanding and communication. When they break down, so will the relationship.”
One user also commented, “Honestly I feel like us breaking up was one of the best things for our relationship. We were both young and were going through shit and grew complacent. Breaking up made us appreciate what we had that much more. Now, almost a decade later, we joke that we love each other so much we chose to be together twice.”
5. I’m Happier Without You
One user commented, “The breakup wasn’t my choice, but when he tried a few weeks later to reconnect, I said ‘Oh, I’ve actually been really happy since we’ve been apart. I don’t think I can get back together now.’ My sister called me savage for it, but I wasn’t trying to be mean. It was the truth, and I just hadn’t realized it until the thought of taking him back filled me with dread.”
Another user replied, “Unintentionally savage.”
One user exclaimed, “The most savage of savages.”
Another Redditor commented, “Similar thing happened to me. He called a month later, while I was living my best life (hanging out with friends and family I didn’t get to see because he monopolized all of my free time so that I couldn’t see them) and wondered why I hadn’t called. I told him that I was getting on with my life. He then said (I cannot make this up), ‘It wasn’t supposed to go this way. You were supposed to call every day, beg me to get back with you and learn your lesson and be a better girlfriend.’ All of this bc I could finally afford my own car and could now come and go without him. Smh.”
6. I Agree
One commenter posted, “She was breaking up with me, and I told her, ‘You know you are right, and I agree, we aren’t very compatible, and our relationship has been on the decline for some time.’ Those were my true thoughts and feelings. I felt a sense of relief when she broke up with me because I realized it was the best move for the both of us.
“So why was this the worst thing to say? It ended up making her want to double down on the relationship. I was bombarded with non-stop texts, phone calls, and unannounced visits to my apartment. All of that. Apparently breaking up things amicably was not how she wanted to go. I think she was adamant she left with the upper hand.”
Another user also added, “Reminds me of my husband and a deal he recently had with his ex (they have kids). They were having a discussion about budgets at a restaurant with her mom being a mediator. She wanted an absurd amount of money for their daughter’s party.
“He told her, ‘We aren’t going to agree. I’m done with the conversation,’ and got up to leave. His ex ALWAYS has to be the one to walk away. As he was getting up, she jumped out of her chair, grabbed her stuff, and basically sprinted out of the restaurant. Just so she could be the one to leave.”
Another Redditor replied, “I don’t think that’s the power move she thinks it is, that’s actually hilarious. I’d have genuinely burst out in laughter. It’d make her look desperate and self conscious.”
One commenter shared, “Yeah I’ve had a breakup with the woman who always needs to win. She wanted to break up with me but also it had to be exactly her way, it caused her extreme rage when inevitably I defied her demands. It was stupid stuff too like she owned a car but had been driving a nicer car that I owned and she demanded I keep paying the insurance on it and transfer it over to her lol…
“It was really weird, I always figured she was cheating or at least thinking about it because she was actually a really good girlfriend for like 10 months and then a flip switched and she just quit everything one day.”
7. No One Else Will Ever Love Me
One Redditor said, “’Please don’t leave, no one else will ever love me,’ said me sobbing in the open doorway of the new apartment of my wife of barely one year. My self esteem was totally shattered. My life was over, there just was nothing left. She was kind but firm. She knew the relationship wasn’t a good fit before I accepted that.
“We were very young, friends but not life partners. I didn’t fully understand until I was a few years into my second marriage. We both went on to have successful, happy lifelong second marriages.”
Another user replied, “That hit close to home, as I recently begged someone to please not leave me. I’m really truly happy for you that you found love and perspective, and hope one day I can be there too. Not today though.”
Another user added, “Not a break up, but was seeing this girl off and on (because she wouldn’t commit to actually dating). Got sick of the yo-yoing, fired up Facebook Dating and met my now girlfriend for drinks two days later.
“When the non-committal girl came back and I told her I was off the market I said, ‘I’m just looking for someone who knows what commitment is.’ Must have hit a nerve because about six weeks later she was pregnant.”
8. You’re Turning Into Your Mother and I Hate It
“’You’re turning into your mother and I hate that [woman].’ I’m sure there was a more diplomatic way to phrase that but 19 year old me was out of fucks to give at that point,” one user stated.
One replied, “Classic! And that was it? Said that, dropped the mic and you were outie (Audi) like 4 circles? That would be beautiful—a movie quality quote my friend…”
Another user responded, “Haha something like that. It was the last thing I ever said to her, and from what I heard from some mutual friends years later I was absolutely correct in my estimation.”
9. We Should Just Be Friends
One user shared, “Her, ‘This isn’t working out. I think we should just be friends.’ Me, “Lets just never talk again is probably best.’”
Another user replied, “Better than faking it tbh.”
One commenter replied, “That’s not mean, that just is what it is. I was broken up with and the guy was all about still staying friends (I was in a position to buy a first home, was doing rather well, etc etc and he was looking to be… Friends with benefits and roommates… I don’t… know) his reasons were valid. I wasn’t upset but I responded honestly, ‘I get it, thanks for being honest and while I appreciate the offer of friendship I am looking for a partner not a friend. I have more than enough friends.’”
10. You’re a Deadbeat
“Not me but someone told my aunt they were breaking up with her because she was a deadbeat going nowhere in life. Then she became a doctor out of spite. Lol,” one user commented.
Another user replied, “Ah yes, spite success, the best kind of success.”
11. Intimacy is One of the Reasons
One user shared, “[I said] ‘S-x is part of the reason I’m ending things…’ In my defense it was my first time breaking up with a guy. The man had a b-ner the entire time I was breaking up with him, he was crying, and he kept trying to have sex one last time during my break up speech. I was perplexed.”
Another user replied, “The image of a dude being broken up with while also sporting a full tent is honestly kind of funny.”
12. Thank You, That Was Very Helpful
“I once ended a struggling relationship. A few months later I got an email from the person, and it was pages of everything I had ever done wrong in the relationship. I realized that this was why the relationship had been struggling. All these things that had been bothering my partner, and they had bottled them all up inside instead of, say, talking to me about it.
“So, my entire response to this multiple page email with everything I had ever done wrong, ‘Thank you, that was very helpful,’” one user shared.
Another user quoted, “You fell asleeeeep?! It was 18 pages!”
Another user added, “’FRONT AND BACK!’ ‘Don’t worry about me not getting any sleep. I STILL HAVE YOUR LETTER!!’
13. Go Out In Style
One frustrated user shared, “I had a partner who regularly threatened [self harm] if I left. She was horribly mentally, emotionally, and physically abusive. The last time she did this, she threatened to jump off our apartment balcony. I told her to make sure to ‘do a back flip on the way down so you can at least go out in style.’ and left the apartment. Unsurprisingly, she didn’t do it.”
Another user replied, “Had a similar break up. Was with the guy for 2 years, he sent me videos and pictures of his mouth full of pills and deep down I knew he wasn’t really going to do it. I still regret the way I handled that because if he really did it, I don’t know how I’d be able to live with myself.”
14. No One Will Ever Love You like I Do
One user commented to the thread, “No one will ever love you like I do”
At the time, I was young and that’s really how I felt. In retrospect, it was mean and manipulative.
We’re now both in happy marriages.” One user replied, “”I’m good with that.” “My ex told me that, or something along those lines, and to this day it still breaks my heart almost 2 years later.”, one user commented.
15. You Need Therapy
One Redditor posted, “You need therapy if you actually want to be successful in relationships. You can’t even commit to owning a cat.”
Another user chuckled and posted, “This one actually got an audible laugh out of me.”
16. You Are an Old Loser
One commenter said, “’You are a 30 year old loser. Stop going to clubs to be the ‘dj’ b/c people actually make fun of you.’ Ahhh, stupid younger me. Would never say something like that. I was very hurt because he was with someone else 1 month after our +3 years relationship. But we are good now, and I wish him all the very best in the world. He was a good guy, but we were simply not right for each other. I just wanted to damage his ego because mine was damaged.”
Another user replied, “Does he still go to clubs to DJ? This is important.”
One user replied, “Spoiler: HE DOES. Hahaha and I have been to those parties too. No bad blood anymore, we are cool.”
17. Please Don’t Write Back
One user shared, “’Please don’t write back. This hurts too much.’”
Another Redditor replied, “This one hit close to home.”
18. It’s Not Me, It’s You
“’It’s not me, it’s you.’” one user added.
Another replied, “You’re [hecking] right it’s me.”
One user commented, “Nobody tells me it’s them, not me. If it’s anybody, it’s me.”
“I prefer ‘It’s not you, it’s me. I don’t like you,’” another Redditor added.
19. Do We Have Chemistry?
One user commented, “I was a high school freshman and I opened my breakup speech with, ‘Do you think we have chemistry?’ Hoping he’d say no and make it easier. He said yes. Such a stupid way to go about it, I know. It didn’t teach me anything because a year later I opened another breakup speech with the same question, and he gave the same answer. I finally stopped asking that question.”
One user also responded, “It’s all about your rebuttal ‘Do you think we have chemistry?’ ‘Yes.’ ‘Well that makes one of us. Bye!’”
Do you have more things in mind? Share in the comments!
Source: Reddit.
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You would be surprised at how many musical artists crossover to acting and vice versa. It is all in the performance, and while it doesn’t always work out (Harry Styles can’t act, guys, sorry), more often than not, it does.
Studios might put singers in their films to draw their fans to the theater or give them a shot that they have always wanted to take. Often they perform a song during the film or for the credits. Here are the best movies that star a musical artist.
1. A League of Their Own (1992)
A League of Their Own tells a fictionalized account of the real-life story of women needing to play baseball because the men were at war. Madonna plays one of the main characters, Mae Mordabito, who is inspired by Faye Dancer.
She didn’t have much of a track record in the film, but ultimately her fame was considered a big enough asset for the film, so she was added to it. A League of Their Own features Madonna singing This Used To Be My Playground.
2. A Star Is Born (2018)
2018’s A Star Is Born is the third remake of the film, each of which starred a singer: 1954 stars Judy Garland and 1976 stars Barbara Streisand. It follows an alcoholic musician who falls in love with a young singer.
Lady Gaga (also known as Stefani Germanotta) plays the young singer in this version. The film’s soundtrack sold over six million copies worldwide and received four Grammy Awards wins out of seven nominations.
3. Grease (1978)
The film Grease is based on the stage musical of the same name. The studio needed a powerhouse vocalist to take on the role of Sandy. Olivia Newton-John initially turned down the role but eventually decided to take it. Her co-star, John Travolta, has said many times that he knew only one person could play this role, and it was her.
4. The Blind Side (2009)
The Blind Side tells the story of Michael Oher, an American football offensive lineman who overcame an impoverished upbringing to play in the National Football League (NFL) with the help of his adoptive parents, Sean and Leigh Anne Tuohy.
Tim McGraw plays Sean. His performance has been widely considered fantastic, and while he wasn’t the movie’s main star, he left an impact on many people.
5. 9 to 5 (1980)
The film 9 to 5 stars Jane Fonda, Lily Tomlin, and Dolly Parton as three working women who live out their fantasies of getting even with and overthrowing the company’s autocratic, sexist, egotistical, lying, hypocritical bigot boss, played by Dabney Coleman.
Dolly Parton was already established as a successful singer, musician, and songwriter, but the film permanently launched her into mainstream popular culture. Her song, 9 to 5, garnered an Academy Award nomination and four Grammy Award nominations, winning her the Best Country Song and Best Country Vocal Performance, Female awards.
6. The Social Network (2010)
The Social Network tells the story of the founding of the social networking website Facebook. Justin Timberlake portrays Sean Parker, the first President of Facebook. Jonah Hill was in contention for Timberlake’s role, but director David Fincher passed on him. While the film has a soundtrack, Justin Timberlake does not sing on it.
7. Glass Onion: A Knives Out Mystery (2022)
Glass Onion is a standalone sequel to the 2019 film Knives Out, with Daniel Craig reprising his role as master detective Benoit Blanc as he takes on a new case revolving around tech billionaire Miles Bron. Janelle Monae has two roles in the film.
Many have said she is the reason to watch the movie, as her performance is incredible. She has been nominated for several awards due to this performance, including Critics Choice for Best Supporting Actress.
8. Labyrinth
Labyrinth is a 1986 musical fantasy film in which Sarah embarks on a quest to reach the center of an enormous, otherworldly maze to rescue her infant half-brother Toby, whom she wished away to Jareth. The film stars Jennifer Connelly as 16-year-old Sarah and David Bowie as Jareth, the Goblin King.
One user quotes Bowie, saying, “I’d always wanted to be involved in the music-writing aspect of a movie that would appeal to children of all ages, as well as everyone else, and I must say that Jim gave me a completely free hand with it.”
9. Dreamgirls (2006)
Dreamgirls stars both Beyoncé Knowles and Jennifer Hudson. The story follows the history and evolution of American R&B music during the 1960s and 1970s through the eyes of the Detroit girl group known as “The Dreams” and their manipulative record executive.
10. The Rocky Horror Picture Show (1975)
The film is based on the 1973 musical stage production The Rocky Horror Show, with music, book, and lyrics by O’Brien. The production is a tribute to the science fiction and horror B movies of the 1930s through to the early 1960s.
In late 1973, Meat Loaf was cast in the original L.A. Roxy cast of The Rocky Horror Show, playing the parts of Eddie and Dr. Everett Scott. The success of the musical led to the filming of The Rocky Horror Picture Show, in which Meat Loaf played only Eddie, a decision he said made the movie not as good as the musical.
Source: Reddit.
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When it comes to helping kids learn about finances and long term savings, there are so many different ways it can be approached. But, one of the best ways I have found to help my kids out in the future is with different savings vehicles. This is especially true of UGMA & UTMA accounts.
These accounts make saving for the future extremely easy, plus they can help your kids learn about investing and the stock market, which is a huge bonus in my book!
What’s Ahead:
What are UGMA & UTMA accounts?
Both UGMA’s (Uniform Gifts to Minors Act) and UTMA’s (Uniform Transfers to Minors Act) are custodial accounts. These accounts will be managed by whoever set them up for the minor child until they reach the age of 18 (or sometimes until the age of 25, depending upon the specific rules of the account you choose).
These accounts can be made up of:
Stocks.
Bonds.
Mutual funds.
Cash.
Insurance policies.
Once the money is deposited into these accounts it cannot be withdrawn until the child is of age and chooses to withdraw it. However, a big perk is that it can be withdrawn for anything without any penalties. This is different from a lot of other types of custodial accounts.
Both accounts essentially perform the same function but have a very slight difference between them. While a UGMA account can be made up of all of the previously mentioned types of investments, UTMA accounts can have a bit more included.
UTMA accounts can also house any form of property. Therefore, if you, as the asset manager, want to put your car or house in there for your child, you can. But not all states recognize UTMA accounts, so check with your state first to make sure the option is valid there.
Why are UGMA & UTMA accounts a good savings vehicle for your kids?
Both of these accounts can grow exponentially over time, which makes them great savings vehicles for your kids, especially since the interest they earn will be based on the average market return for the stock market, as opposed to much lower basic savings account rates. And these rates usually average between 6% – 7%, which is a lot higher than even high-yield savings accounts.
Ultimately, these accounts can help your kids learn a valuable lesson about how much more their money is worth in the future than it is today. Saving can be difficult for kids, so these accounts can help with that since they won’t be able to withdraw anything until they are at least 18.
This way, they can continue to watch the account grow without potentially diminishing how much they are saving. Plus, it gives friends and family members another way to give your kids gifts as opposed to just buying more stuff they don’t need.
The hope is that by the time they are adults, they will have spent enough time watching the account grow that they will realize how long it took to get there and not touch it. At least, that is what I’m hoping for my kids, especially my natural spenders!
What should you know before opening a UGMA or UTMA account?
If you are thinking about opening one of these accounts for your child, it’s important to remember that you will be the custodian of the account until they turn 18 and can manage it themselves. So, this will require a little bit of time and work on your end, depending on how much money they end up putting into the account regularly.
Since these types of accounts are set up as trust accounts for your kids, it makes them safe in times of crisis. Meaning that you, as the parents, nor other family members can touch these accounts. Only the children once they turn 18 can withdraw money from the accounts, which makes them one of the safest savings vehicle options for kids.
This also means that it helps your kids get through the financially tumultuous teenage years intact since they can’t touch this money either.
However, these accounts will be taxed with standard capital gains taxes for any annual unearned income over $2,200. This is definitely something to keep in mind. Usually, the recipient (the child) is the one taxed though. So, they will be taxed based on their tax threshold, which is usually much lower than any adult would be taxed.
Where can you open UGMA & UTMA accounts?
Luckily, there are quite a few good options for opening UGMA & UTMA accounts. If you already have investment accounts somewhere, I would suggest starting with these first. Having all of the investment accounts in one area just reduces your overall headache when it comes to managing them. And as someone who has five kids, each with their own accounts on top of our accounts, I simply need one platform to help minimize my time spent on this.
However, if you don’t have investment accounts yet, or if the company you are working with doesn’t offer UGMA or UTMA accounts, then here are a couple of great choices to take a look at.
TD Ameritrade
TD Ameritrade UGMA and UTMA accounts have a few more investing options than other options. They have a much wider range of investments to invest in, but the fee is usually $6.95 per trade.
However, their investment platform is one of the most robust on the market, with educational tools the can help beginners learn the basics of investing. So, if you prefer things that are a little more technologically advanced and want to trade like a Wall Street trader, then this might be the best platform for you.
E*TRADE
E*TRADE offers custodial UGMA and UTMA accounts on their fully online platform. As the oldest online brokerage, they have been around long enough to work out a lot of the bugs with digital trading.
Their higher trade fee of $6.95 ranks right up there with TD Ameritrade though, so it’s not the lowest feed custodial account on the market. But, they do give you over 4400 no-transaction-fee mutual funds to choose from, which helps offset the cost. They also have a lot of useful tools and research at your fingertips to help you and your child make informed choices.
Who should open these types of accounts?
If your child is okay with putting the money they get as gifts, chore money, money from selling their toys, etc. into this account, then this might be a great fit. If so, you then have the opportunity to explain how compounding works to get them excited about the future prospects of growth.
If you want to help your child learn about investing and save for their future at the same time, then these accounts are right up your alley.
UGMA and UTMA accounts are also great for anyone who is okay with managing investment accounts themselves, or are at least willing to learn. Ultimately, this can be a great family financial bonding experience.
What other types of accounts can you open for your kids?
There are a ton of different types of accounts you can open for your kids while they are still minors. The biggest question is which one(s) will serve them the best? Followed by which one(s) will be the easiest to open? Because, ultimately, that is a big determining factor with opening accounts for kids.
Savings accounts
Savings accounts are the easiest type of account to open for a minor. As a kid, this was the only account my brothers and I had as a savings vehicle. This was sad because the savings rates on these are less than minimal. However, if you open a high-yield savings account for them, their return will be a bit higher, depending on the market.
Luckily, opening a savings account for your kids is fairly easy and straightforward. Usually, they will just require you to fill out a simple form with both your personal information and that of your child’s. Then you will need to make a small deposit to activate the account and you’re all set to go. This is a great first account to begin getting your kids excited about finances.
Checking accounts
Getting a checking account set up for your minor child is a bit more difficult of a process. This is due to the fact that a lot of banks don’t have a tolerance for setting up minor accounts for children under the age of 13.
Therefore, if you have a child under the age of 13, I’ve found the smaller local banks to be more amenable here. I actually had to go to my local business bank to get my children’s checking accounts set up for all of our kids under 13, since my other bank wouldn’t do it. Luckily, it was a really easy process to complete since I already had accounts with them. I just had to sign a couple of forms stating that it was a joint account and I could be responsible if they overdrew the account.
But, if you have a teen, then your chances of opening a checking account for them exponentially increase. In fact, there are some great companies, such as Current, that are focusing specifically on teen checking accounts. And with companies like Current, you get to manage your teen’s account and help them learn the ins and outs of fiscal responsibility.
Retirement accounts
For most kids, it will be a bit more difficult to open a retirement account for them since they probably aren’t working. However, if they are working at all, even if it’s just for your business, then opening a custodial Roth IRA is a great retirement account to consider.
This is actually how my kids got started with investing. Since all five of my kids work for me with one of my businesses, and I pay them for their work through the business, they have earned income. Which is the requirement for a child to have a custodial Roth IRA account.
These accounts are awesome because they won’t have to pay taxes on anything they contribute when they go to withdraw it, only what they have earned on their contributions. And it teaches them how to invest in the stock market, as well as how volatile it can be.
College accounts
If you want to reap the rewards of helping your kids save for college and watch the money grow tax-free, then a 529 account is what you probably want. These accounts are offered in every state and you can purchase one that isn’t in your state if you like the way it is structured better. There are also no limits as to how much you can contribute, so the money could potentially grow much faster in these types of accounts. The caveat to 529 accounts is that the money must be used for educational purposes.
Summary
Helping your kids get a great financial head start in their adult life is much easier with UGMA and UTMA accounts. Since they aren’t discussed as frequently as some of the other more widely known savings vehicles though, they often get overlooked. There is no time like the present to take a look into these awesome accounts for your kids’ future. And maybe teach them a little something about investing along the way!
Offers came quickly for an adobe house in Driftwood, TX. The uniquely beautiful space is listed for $1.37 million and pending sale.
“You don’t see a lot of Santa Fe-style homes in the Texas Hill Country and that, paired with all of the landscaping, it’s an outstanding property,” says listing agent Nayeli Cutler, with Twelve Rivers Realty.
Cutler notes that the original owners built the 2,106-square-foot, Southwest-style house in 1988 with the help of New Mexico architect Mike Fischer, in hopes of enticing their daughter to move back to Texas from Santa Fe.
“They thought she moved there for the architecture,” Cutler explains. “So they built her a home to try and woo her back, but it didn’t work out.”
More than five acres
The two-bedroom, two-bath property has had a few owners, and this is the second time Cutler is selling it. She previously represented the home in 2009, when it last changed hands.
“The current owners have improved the landscape,” she says, adding they acquired a back parcel of land to bring it to its current 5.7-acre size. The property has agricultural and wildlife exemptions, including one for beekeeping, which is a boon for owners.
“When you own land in Texas, having these exemptions on your property saves you thousands of dollars in property taxes,” Cutler says.
Southwest style
With its three kiva fireplaces, tiled floors, stained glass, and wood-beamed ceilings, the house indeed looks like it belongs in New Mexico—the space abounds with the hallmarks of Southwest-style.
Another appealing attribute is the home’s indoor-outdoor connection.
“It has two courtyards and lots of windows that look out into those courtyards,” Cutler says.
Hollywood comes calling
In 2008, the house caught the eye of the production crew filming the HBO movie, “Temple Grandin.” Much of the 2010 biopic starring Claire Danes was filmed in Austin, as a stand-in for an Arizona ranch.
This house “was her aunt’s house in the movie,” Cutler says. “They approached the owner at the time to see if they would be able to film there. And they actually put in all of those corrals for the movie.”
The property is just outside of Austin, about 30 minutes to downtown, and right across the street from the breweries and wineries of the Hill Country area.
“It’s truly very unique,” Cutler notes. “I call it country life with city convenience. You are surrounded by so many small towns that you can visit in a day trip, but you’re so central, and it’s just outside of the Austin fray.”
Guest set-up
A restored, 1967 trailer in the back of the house can be used as guest quarters. Both the trailer and the wood-burning hot tub convey with the sale.
“It is just a fun place for your guests to kind of have a glamping vacation when they come and visit you,” Cutler says, noting that it’s tucked away from the main house to allow for some privacy.
The unusual property clearly stood out to buyers. After just a few days on the market, there were offers on the table.
“We priced it very aggressively in order to get the most traction possible and for it to move quickly,” Cutler says.
In the past year, streaming service Netflix has released two financially focused offerings: the film “Get Smart With Money” and the series “How to Get Rich.”Both feature powerhouse financial influencers who help people reevaluate their approaches to money to educate and empower them. Here are four takeaways that you can apply to your own life, no matter your financial situation.
Takeaways From ‘Get Smart With Money’
The “Get Smart With Money”documentary features well-known financial writers, bloggers and podcasters who share their expertise on how to become better at managing money. Here are a couple of lessons they imparted.
1. Emotion management is key to money management
In “Get Smart With Money,” some of the featured participants were dealing with significant debt or with the challenges of living paycheck to paycheck. The stress, fear and frustration that come with money can significantly impact how you manage it.
Tiffany Aliche, a financial educator also known as The Budgetnista, talks through this fear and encourages people to face their money head-on to see what they owe and where they need to save more. If you’re afraid of your money, that’s going to affect how you manage your money, she says in the film.
2. Money is a tool to help you create the life you desire
Aliche tells one of the show participants to create a “dream fund,” a special savings account for goals outside of regular bills and emergency fund budgeting. This takeaway is a great reminder that money is meant to be used for things that will make you happy in addition to paying for daily expenses.
Takeaways From ‘How to Get Rich’
Ramit Sethi, author of bestselling book “I Will Teach You to Be Rich,” hosts this Netflix series and helps participants define their goals and make moves to achieve them. Here are some of the lessons and tips from the show.
3. Think about what makes you happy
One of the pillars of Sethi’s advice is the concept of “a rich life,” meaning the financial ability to do things that bring joy. He emphasizes that a rich life comes in many forms, like being able to take time off from work when you want to, fly in business class for long trips or even help a parent retire, as was the goal of one of the show participants.
Mindy Jensen, a host of financial podcast “BiggerPockets Money,” had an aha moment with Sethi when she was a guest on his podcast. Sethi’s podcast is separate from his Netflix show, but he emphasizes a lot of similar money guidelines. As Sethi discussed the concept of a rich life with Jensen and her husband — who are both financially independent, meaning they have enough money to pay their living expenses for the rest of their lives — they realized that even with their large net worth, they weren’t spending enough money to make life more enjoyable. After the conversation, the couple decided that they wanted to spend more money on travel with their two teenage daughters.
“We don’t need or want more things, but we want more experiences,” Jensen told NerdWallet.
Looking back on her journey to financial independence, Jensen also realized that there was more she and her husband could have done to start their rich life earlier.
“You can continue to contribute to your retirement accounts and investments, but it doesn’t have to be this frantic mad dash to the finish line,” she says. “You can do it a little slower and enjoy your life.”
4. Homeownership doesn’t have to be a financial goal
It can be hard to break away from the idea of homeownership as a major financial achievement. In America, the mythos of the “white picket fence” is often part of the way people describe success. Sethi’s perspective on homeownership, however, differs from popular convention. In “How to Get Rich,” he advises participants to keep in mind all of the additional costs that come with homeownership compared with what’s covered by a landlord.
Homeownership means that everything falls to you, on top of whatever you pay for your mortgage, home insurance, homeowners association fees and property taxes. If you find a rental that leaves enough room in your budget to allow you to invest more, the math can sometimes work out better for your net worth in the long run, Sethi says.
For people who are getting started on their financial journey — as well as those who are well on their way — these shows can provide inspiration and information about how to make your money work better for you.
This article was written by NerdWallet and was originally published by The Associated Press.
It’s no secret that mental health is an incredibly important part of overall well-being. From anxiety to depression and beyond, our emotions, moods, and behaviors are impacted by how we take care of ourselves. But with all the demands on your time, it can seem daunting and overwhelming to give yourself the attention needed for good mental health—right? Wrong! There are some simple steps you can take each day that will help keep your brain in tip-top shape!
1. Work Out
One user shared, “Working out. Made all the difference.”
Another user replied, “I swear by this. Worst bout of depression in 2021 until I started exercising. Even now when I have a sh*tty day, an hour of exercise makes all the difference. It’s like the sweat washes away all the negative toxins from your body or something.”
One Redditor added, “This. I can’t stress it enough. I would work out 24/7 if I could as it just blocks out all my thoughts and lets me focus on the gains.”
Another commenter said, “That’s it. For me it’s really the feeling of being in control and actively working on feeling better. It also does something to your biochemistry that is extremely beneficial but if you just look at factors that lead to depression, losing control or feeling like other people determine your fate is quite at the top of the list. I feel like I’m turning that around somewhat by working out.”
2. Delete Social Media
One user commented, “Not having any social media accounts.”
Another Redditor asked, “Does Reddit not count?”
The OP answered, “I also deactivated all social media except for Reddit and Twitter (which I will soon deactivate too) I feel these two platforms are different in the sense that they don’t lead the users to constantly compare themselves or expose you to falsehoods of what a ‘perfect’ life others have. This wasn’t personally the reason I deactivated, for me it was a useless time suck that I just wanted to eliminate.”
3. Keep a Gratitude Journal
“Journal of gratitude. Writing in it every night before bed. Keeps me focused on positives,” one user replied.
One user added, “I moved to Japan. I originally visited temples and shrines because I like the environment and collecting the official seal from each. Somewhere along the way it turned into an exercise of gratitude. At each place, I think about how the aspect of the place is there for (Love, knowledge, travel, etc) has been good for me and give thanks. It gets really niche sometimes (Last month I went to a shrine about teeth!) but what that means is that there’s so much I realized I can be thankful for.”
Another user concluded, “I love this idea.”
4. Practice Sobriety
One Redditor added, “Sobriety. More than any other single change. Second biggest? Taking one or two meds that could help with the symptoms I couldn’t resolve myself.”
“Same. Got my 2 month chip today. It’s still new but yeah,” another user replied.
One user commented, “Congrats! keep it up! It just gets better.”
Another user added, “I can’t begin to tell you how much of a difference this has made for me. I am coming up on 9 months sober on July 5th. My psychiaTRIST kept asking me to quit the alcohol but I kept drinking for years. Now that I am feeling the benefits I am just blown away. I’ve already decreased my psych meds once and I feel like I am ready for another decrease.”
5. Get Professional Help
“Seeing someone about it,” one user commented.
Another Redditor replied, “Seeing a private therapist about it and starting ADHD medication the past 6 months has helped so much more than 5 years of various medication and therapy in the public psychiatry did it was truly wild the difference it made being properly medicated with something that actually worked for me (compared to all the antidepressants, antipsychotics and anxiety medications i’ve been on) along with a therapist who genuinely was willing to help me, rather than one who just wanted me out of the psychiatric system as soon as possible.”
One also confirmed, “Counseling really helps.”
6. Take Medications
One user commented, “My medication. Thank you Lithium and Seroquel for controlling my type two bipolar which enables me to participate in my life in a meaningful way. It has also made it possible for me to deal with unresolved issues and now I only need the meds listed above. Been almost twenty years now and not a hint of mania or depression.”
Another user replied, “How is your memory with seroquel? I’ve only been on a very low dose for 3 weeks but my memory is horrible all of a sudden. I’m also sleeping a lot.”
Another user shared, “It can take up to six weeks for it to reach therapeutic levels. The sleepiness will abate. I don’t recall specific memory issues when I started but I was also dealing with the memory issues of the depression I was slowly coming out of. Talk to your pharmacist about the side effects. They will know what you should be concerned about and what will pass.
“Getting the right meds at the right dose requires patience but it is so worth it. Hang in there. Being able to meaningfully participate in your own life once you get this sorted is a blessing I can’t describe. I am grateful every day for my meds.”
7. Make New Friends
One Redditor shared, “Leave all my old friends behind and look for new ones to forget my old struggles. I know it’s bad but I don’t care. I love my two only friends and they are enough for me.”
Another user affirmed, “It’s not bad at all; sometimes you must leave people in the past.”
8. Positive Existentialism
One user stated, “Optimistic nihilism. One day I realized I’m not actually going to be here forever, and the things I do now aren’t going to matter in the long run. Did something embarrassing? So what, they’ll forget about it eventually. Made a mistake at work? Dude the bosses make way more money anyway, why should I care if I already gave it my all? I’ve learned that I can be a good person and still not give a shit, that the only opinion that matters is mine, and if someone wants to stomp all over that I don’t need them in my life. Edit: it’s officially called absurdism/existentialism! I recommend looking it up.”
One user responded, “I call this ‘zooming out’. I do it periodically. I think it’s healthy to recognize that each of us is 1 in 8 billion living people, probably 100 billion ever. That only spans a few thousand years. The world has been around billions of years before us, and will last billions of years after we’re gone. Our tiny planet is one of billions (trillions?) of planets that have existed or will exist. We are so small.”
Another user added, “Yes! So many people are miserable because they want to look good for everyone else, but what’s the point when in a year, a month, even a week from now no one will remember what you said or did. Most people are too absorbed in their own insecurities to focus on yours, and the ones that make it a point to focus on yours aren’t worth it. In the end, you’ll be gone and no one will remember you, even celebrities will be distant memories one day.”
9. Delete Toxic Messages
“Deleting my ex-wife’s emails without reading them,” one user commented.
Another user replied, “Boss move. Well done!”
10. Leave Unhealthy Relationships
One commenter posted, “Being single again. Two weeks after being dumped, I was still feeling less emotional distress than what I did on a regular basis while in that relationship.”
11. Plant a Flower
“Moving into a house with a garden after years in a flat, sitting out in nature is so relaxing, being able to enjoy the fruits of my labour by seeing the flowers and plants grow that I planted is so rewarding, especially when you see bees enjoying the flowers. I have honestly gone from around a 2-5 in mood up to a 9-10, even on the most difficult days, the garden is my sanctuary, I didn’t think it could make such a difference, but it does,” one Redditor added.
Another user added, “That’s happy! Nature makes such a huge difference in well being. Being outside pretty much immediately improves/regulates my mood.”
12. Go Outside Near Water
Another user shared, “Going to the beach.”
One added specifically, “Newport Beach, Crystal Cove Beach. . . California.”
“Little Corona,” another commenter responded.
One user suggested, “Rio Del Mar, Capitola, Santa Cruz CA.”
13. Meditate
“Meditation,” one user posted.
Another Redditor confirmed, “Yes meditation has done wonders. For me guided meditation. There are tons of free ones on YouTube. It can take a few times but it does help big time.”
One commenter asked, “Please suggest a good yt video if you can. If you don’t know of a good video, can you please take the pain of writing it? I will be so grateful…”
Another user said, “Look into Dr Joe Dispenza.”
14. Get a Dog
One user shared, “Getting a dog.”
Another user replied, “Ooff, so much agreement here. A dog gives you routine, which is key when your life is disrupted by big events.”
“Honestly, I’ve noticed my anxiety always gets a lot worse when I have no routine. Even little things like going to the gym/walking everyday, getting up at a certain time, etc helps me,” one commenter added.
Another Redditor responded, “I was going to write the same. My furry little friend has made a huge difference.”
15. Don’t Watch the News
One user suggested, “I stopped watching the news about 7 years ago. I cannot describe how blissful ignorance is.”
Another replied, “Fr tho.”
16. CBD
One user posted, “Unironically, smoking a bunch of weed. That’s not saying it’s a healthy way to go about it, but when I’m baked, I want to be as comfortable as possible. To get that, I actually had to clean my living space and do basic hygiene. Over time, taking care of those things was a bit easier because I wasn’t letting mountains of trash pile up. Cleaner space and slightly healthier living gave me a morale boost I wasn’t expecting and it pushed me to be more diligent in cleaning myself and my area. I’m still not in a great place mentally, but I’m leagues ahead of where I was a year ago.”
“Exact opposite for me. Weed takes away any energy I have to actually make my life better. It systematically ends up destroying any good intentions I have,” replied by one user.
17. Get a Better Job
“A better paying job with more interesting work, better coworkers, less hours and a boss who believes in making sure people have what they need to function instead of putting pressure on them. Give me far more time to be at home to take care of things there (and to chill, mind you) plus a bigger spending range and so much more happiness in the job itself,” one Redditor shared.
18. Quit a Toxic Job
One online user shared, “Quitting my job!! I’ve been at a new job for about three months now and have really been doing so much better. I had previously worked in an animal control facility for about 3.5 years. I had been promoted several times, was the head of my department and several unrelated projects and was completely overwhelmed. Asking for help because I didn’t have time to do everything I needed to was met with unhelpful answers about figuring out how to balance everything. Not having any ideas of how to balance it, I was literally told, ‘It’ll be easier when you figure out how to balance everything.’ I took a $4 pay cut to go to a new job. I’m the newest and dumbest person in an art department, have no customer interaction, and don’t see animal death daily. This is the best pay cut I’ve ever taken. I’m only now starting to notice how much the compassion fatigue at animal control was affecting me.”
19. Set Boundaries With Family
“Pulling away from family. I love them, truly, but no one needs constant reminders of mistakes in their teens when you’re almost 30. Not to mention I have the kind of family if I return such a favour that I am told I am a child for bringing up the past. I used to call my brother and sister almost daily and I stopped last month. Best decision I have made in a long time,” one user commented.
Do you have more healthy ways of keeping up your mental health aside from the list above? Share it in the comment section!
Source: Reddit.
These are 10 Things That Completely Destroyed The Love in a Relationship
There’s no question that relationships can be confusing, but here are some of the top things to avoid if you want to keep your relationship healthy!
10 Actors and Actresses People Refuse to Watch Ever Again
We all have a favorite actor or actress, but most of us have a least-favorite as well. Check out this list of actors and actresses people never want to see performing again!
Top 10 Worst Human Inventions of All Time
Some inventions are world-changing, and some of them, well, they change the world in the wrong ways. Here are some of the worst inventions Redditors could think of.
10 Famous Celebrities Who Look Like They Smell Terrible
We’ve all had moments of hygiene faux pas—but these celebrities just look like they don’t take care of themselves at all.
10 Terrible Fads People Are Glad Died Out
Every fad has its time in the limelight, but some of them come and go faster than others; and some just need to die out right away. Check out this list of fads of which people were happy to see the last.
A quarter of U.S. adults say they’ve relocated to pursue a romantic relationship with the person they love at some point during their lives, and doing so generally pays off, according to a new survey.
Some 27% of men said they’d relocated in the past compared with 23% of women respondents in the survey of 1,000 adults by HireAHelper, which is a moving and relocation company.
Moving for love might seem like a simple enough decision, but the survey found that many who did so were in two minds about it. Indeed, one third of those who moved for love said that actually going through with it was the hardest part of the process. Others cited homesickness as being the toughest part, ahead of the difficulty of adjusting to a new life.
And although more men have moved for the sake of their relationships, they actually have a harder time in making up their minds (38% of men compared to 28% of women), the survey found. Men also reported more difficulty in managing changes to their relationship following the move (13% versus 11%). However, women found it tougher to find a suitable home once they’d decided to relocate.
Still, the vast majority of those who moved to be near a romantic partner said it was worth doing so. Three quarters are still together or at least, stayed with their partner for over a year after moving. And another two thirds said they had “no regrets” about moving. Indeed, even if the relationship didn’t ultimately work out, most reported still being satisfied with their decision to relocate.
Of those who’ve never moved for love, 44% said they would be willing to do so if they were in a long distance relationship. However, distance does play a part, as 46% said they’d only be willing to relocate to a city in their own state to be closer to a partner, with 44% saying they’d happily move across state lines.
Still, respondents said they’d first need to be sure the relationship was the real thing. According to the survey, 68% of adults would only consider relocating after being with someone for at least six months. Just 20% said they’d consider doing so for a partner they’ve been with for a shorter time than that.
Meanwhile, a somewhat stubborn 12% said they’d never relocate to be with a partner at all, no matter how much they loved them.
“Overall, Americans are fairly open to the idea of moving for love, and a quarter of adults have actually done so,” the survey researchers said. “And most people who relocate to pursue a romantic relationship … [find] resettling nearer to a romantic partner has a solid chance of succeeding, sustaining, and paying off even when you don’t stay together.”
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].
Lawns are symbols of Los Angeles’ past. In this series, we spotlight yards with alternative, low-water landscaping built for the future.
On a closely packed street in Inglewood, where single-family home after single-family home overlooks a manicured lawn, a spectacular garden filled with California native plants reaches to the sky and spills onto the sidewalk.
In Brian Bautista’s yard, upright showy penstemon, aromatic hummingbird sage, hardy toyon trees, and two types of milkweed — dramatic plants requiring little water — attract birds, butterflies and bees and flourish amid the Bermuda grass lawns.
“I tore out both my front and back yards because they provided little value to the house,” Bautista said of the former patchwork of weeds and grass. “I had to mow it; it never looked good. And I had to keep spending money watering it and maintaining it.”
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Soon after Bautista and his wife, Debora Lee, purchased their first home in 2020 and the pandemic closed down the economy, the 38-year-old visual effects editor embarked on a do-it-yourself gardening overhaul despite having no previous gardening experience.
“All of a sudden, I had more spare time than I knew what to do with since I was no longer going into an office in Hollywood for 60 hours a week to work on movies,” he said. “It was time for an upgrade. I decided to do it myself because we had just bought a house and had no money.”
Living in drought-stricken California, the self-described “millennial with climate change anxiety” decided to remove his lawns and plant a drought-tolerant landscape filled with California native plants.
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To get a handle on how to proceed, he enrolled in the Department of Water and Power’s free hands-on “Lawn Be Gone” workshop conducted by the district’s contractor, the G3 Green Gardens Group.
In a two-day workshop held over two weekends, Bautista learned about garden design, turf removal, soil-building, rainwater capture, plant selection, planting and irrigation, and dry garden maintenance.
“They showed us how to use a sod cutter; we installed irrigation and dug a swale,” he said of the project site. “Everyone planted something.”
Armed with eight hours of instruction and a litany of Waterwise Community Youtube videos, Bautista removed the backyard first, “in case it didn’t work out,” he said with a laugh.
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Working over six months, he removed the hardscape and bricks and ripped out the old metal irrigation pipes, which were leaking. He then proceeded to sheet mulch the lawn using empty cardboard boxes left over from the couple’s move and a truckload of compost and mulch from U.S. Rock Corp. (In sheet mulching, cardboard or newspaper is placed on a close-cropped lawn to block the sun and prevent growth. The cardboard is then topped with compost and mulch; eventually, the “lasagna” layers decompose to create healthy soil without chemicals or pesticides.)
“It’s a magical process,” he said of sheet mulching. “It didn’t take long at all.”
Once the compost and mulch had been laid, Bautista started planting, and the garden began to take shape: Bright lemon-yellow Palmer’s Indian mallow, tall spikes of Pozo Blue sage and De La Mina verbena, pink flowering heuchera (Martha Roderick and Canyon Duet) and three types of dudleya (Giant Chalk dudleya, Green Form, Fingertips).
He also added gutters and underground pipes to move the gutter water to a new swale (a stormwater retention feature is required to receive a turf removal rebate) that now infiltrates rainwater into the groundwater basin and feeds a 30-year-old guava tree.
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“A swale is cheap and affordable and can handle much more water than a rain barrel,” Bautista said. During this year’s record rainfall, Bautista was delighted to see that the swale he installed handled the overflow water “like a champ.”
Regarding landscape design and plant selection, Bautista relied on the California Native Plant Society’s Calscape website and the Waterwise Garden Planner for Southern California as guides. Most plants came from Theodore Payne Nursery in Sun Valley and Artemisia Nursery in El Sereno.
“I wanted a low-water, colorful, smell-good garden that works for Inglewood, and those two websites helped me tremendously,” Bautista said. “The site will tell you the plants that naturally grow in your neighborhood. You can research sun exposure, plant type and water needs.”
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Before he installed the plants, he applied for a turf removal rebate from the city by scanning a sheet of graph paper into his computer and using Photoshop. (The Metropolitan Water District of Southern California’s turf replacement rebates fluctuate and are currently $2 a square foot for a maximum of 5,000 square feet per year, but some water agencies may offer additional incentives.)
When finished, he received a rebate of $3,309 for removing 1,100 square feet of turf. (He spent $10,993 before the rebate.)
Because applicants can only receive one turf removal rebate per fiscal year, Bautista tackled his front yard a year later. Once again, Bautista started by digging up the first inch of Bermuda grass in the front yard by hand and then sheet mulched the lawn.
This time, the process was quicker. “It took me two months end to end,” Bautista said, including gutters, hardscape, edging and building a trench to the swale in the backyard. “I knew what I was doing this time. I knew the order of operations, and it was much less complicated. My mantra was ‘Demo, dig, go!’” Bautista received $2,995 for removing 765 square feet of turf in the front yard after spending $8,480 on the transformation.
Three years later, Bautista has fallen in love with gardening and California native plants. “I would love to walk down the street and see more gardens like this,” Bautista said as he pointed out a ruby-throated hummingbird nibbling on one of his sage plants. “It’s like a symphony. Hopefully, we can help nature reclaim some space and provide more habitat for our birds, butterflies and bees and get some precious rainwater into the ground instead of down the street and into the storm drains.”
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When he first installed the garden, he watered the plants every day by hand to make sure they were well-hydrated. Down the road, he watered them once a week for a month. Then, it was once a month for a year. A year later, he started using drip irrigation in the front yard. Now that the backyard is 3 years old, he hasn’t watered it since it rained. “I’m still watering the front yard once a month,” he added. “Soon, I’ll stop watering the plants in the spring.”
Not one to sit still, Bautista recently added a laundry-to-landscape greywater system that he says was relatively easy to install. “It was a lot of digging,” Bautista said. “I dug a trench, and it was pretty easy because it didn’t have to be super deep. The mulch absorbs the water, and that water seeps into the ground and feeds the roots. It’s super cool because I am a plant nerd, so it lets me plant high-water plants that grow near a creek. Now when we wash our clothes, we’re watering them.”
While any visitor can appreciate Bautista’s gorgeous landscape, he is determined to help friends and family who want to tear out their lawns and plant drought-tolerant landscapes.
Francis Mekhail, a neighbor, met Bautista when he was redoing his front yard and plans to install a micro-forest in his backyard with Bautista in the fall.
“Brian is endlessly optimistic and enthusiastic about California natives,” Mekhail said in an email. “He is on an incredible mission to help convert at least an acre of land into native California plants. My wife and I didn’t know where to start, so Brian was an invaluable resource and a tremendous help. We assumed Brian would passively make a few plant suggestions. Still, we ended up getting a spreadsheet with general garden info, soil test results, construction schedule, materials (with links), plant design, irrigation design (with purchase list), a blooming schedule, plant list (with links) and to round things out a list of preferred vendors. He also helped us build the irrigation system and was with us on planting day.”
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Like many native plant fanatics concerned with conserving water, Bautista can’t contain his enthusiasm for creating an environment that supports California’s climate.
“This is a climate solution that I can do every day,” Bautista said. “I feel like I’m doing something for tomorrow.”
Here, Brian Bautista shares his plant list.
Front yard
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Palmer’s Indian mallow
Desert globe mallow (Louis Hamilton Pink Variety)
Showy penstemon
Red buckwheat
Hummingbird sage
Davis Gold toyon tree
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Heuchera (Island alumroot and “Wendy” varieties)
California fuchsia
Bush anemone (St. Elizabeth variety)
Narrowleaf milkweed
Woolypod milkweed
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Side yard
Dudleya (Green Form, Fingertips)
Cliff maids
Bush anemone (St. Elizabeth variety)
Woodland strawberry
Heuchera (Island alumroot, Wendy and Santa Ana Cardinal varieties)
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California coffeeberry
Giant chain fern
Backyard
Palmer’s Indian mallow
Desert globe mallow (Apricot variety)
Desert Grape (Roger’s Red and Regular variety)
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Red buckwheat
Pozo Blue sage
Verbena De La Mina
Howard McMinn manzanita
California Sagebrush (Canyon Grey and Regular variety)
Margarita ‘BOP’ penstemon
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Sulphur buckwheat
Davis Gold toyon tree
Evergreen currant
Heuchera (Martha Roderick and Canyon Duet)
Dudleya (Giant Chalk dudleya, Green Form, Fingertips)
Take a closer look at what it takes to budget to live in the Bay Area.
San Francisco is a hub of opportunity, with a strong economy and beautiful weather. It boasts incredible dining options and endless possibilities for outdoor recreation and fitness.
If you’re considering relocating to San Francisco, it’s important to consider the area’s cost of living and average salaries. Like other major cities such as New York and Los Angeles, San Francisco has a high cost of living. One of the biggest expenses to keep in mind is renting a place to live. So, how far does a salary of $100,000, just above the median income of $94,000, go in the Bay Area? Let’s take a closer look.
What’s the average salary in San Francisco?
Living in a city with a high cost of living, such as San Francisco, can make it challenging to earn enough money. The U.S. Census Bureau reports that the median household income in San Francisco is $126,187.
However, a recent study reveals that a $100,000 salary in San Francisco is equivalent to $36,445 after federal, state and local taxes are taken into account, along with the cost of living, including housing, utilities, groceries, transportation and other goods and services.
New government guidelines announced this past June have set the income threshold for low-income individuals in San Francisco at $104,400 or less. This income threshold will determine eligibility for specific housing aid programs.
Top industries in San Francisco
In San Francisco, with Silicon Valley nearby, the technology industry reigns supreme. However, it’s not the only industry thriving in the area. The employees in the tech industry have the highest median salary at $140,000, according to payroll solutions platform Gusto.
The other top industries in the city that have the highest salaries above $100,000 include finance, insurance and logistics. Average salaries in these industries hover between $103,000 and $140,000 per year.
Cost of living in San Francisco
Let’s talk about the cost of living so you can work out your budget if you have an average salary in San Francisco.
Housing costs. In San Francisco, housing is 242.3% higher than the national average. Renting an apartment in San Francisco is expensive — a one-bedroom costs $3,554 per month, up 4 percent from last year. A two-bedroom is $5,007 per month, up 10 percent.
Utility costs. The average energy bill in San Francisco is very high at $275.58, despite the mild weather. When compared to Los Angeles and San Diego, it’s one of the highest in California.
Transportation costs. Luckily, San Francisco has a walk score of 93, indicating that amenities are easily accessible. Additionally, the city has numerous bike lanes, making cycling a viable transportation option. Just be mindful of the city’s hilly terrain. Using public transportation, such as cable cars, buses and rail systems, can also be cost-effective in the long run.
Tax costs. California has the highest state sales tax rate of 7.25 percent in the United States. The minimum combined sales tax rate for San Francisco is 8.625 percent.
Three reasons to move to the Bay Area
Although finding affordable housing can be a challenge, the allure of San Francisco‘s progressive culture, incredible cuisine and active lifestyle continues to draw people in.
1. Experience an outdoor lifestyle
San Francisco has plenty of parks, including the Presidio, with bay views and hiking trails, and Dolores Park with a Disneyworld-like playground and gorgeous views. Muir Woods, north of the city, gets you a great view of the California redwood forests. Enjoy free Sunday concerts with the San Francisco Symphony for a picnic and music.
2. You’ll never stop eating with this culinary scene
San Francisco is the perfect place to explore if you’re a food enthusiast. Many fantastic restaurants cater to all tastes and budgets, from high-end, five-star establishments to food trucks serving delicious street tacos. The city constantly introduces new bakeries, coffee shops seafood and sushi joints worth checking out.
Visit Japantown, one of the largest and oldest in the U.S., with various items ranging from clothing to manga to snacks. Nearly every weekend, you can find a market selling fresh produce and culinary delights, too.
3. The weather is just right
On average, San Francisco experiences temperatures of 80 degrees Fahrenheit or higher for only 21 days per year due to its coastal climate. The coldest month is January, with temperatures typically around 50 degrees Fahrenheit. San Francisco’s rainy season is from November to April, with about 70 rainy days per year, but it’s not too chilly. It’s always a good idea to bring a sweater just in case.
Pack up for San Francisco
Before you consider moving to the Bay area, checking your budget is essential. A good rule of thumb is to earn at least three times the monthly rent to afford an apartment comfortably.
Even though the cost of living is high in San Francisco, it’s hard not to see the benefits and countless opportunities, making it a worthwhile investment. Find your next San Francisco apartment here.
Muriel Vega is an Atlanta-based journalist who writes about technology and its intersection with arts and culture. She’s worked on content for startups like Mailchimp, Patreon, Punchlist, Skillshare, Rent. and others. Muriel has also contributed to The Washington Post, Eater, DWELL, Outside Magazine, Atlanta Magazine, AIGA Eye on Design, Bitter Southerner and more.