This story originally appeared on FlexJobs. Though the economy has shed millions of jobs during the pandemic, the one silver lining is that freelancing is on the rise. Recent data shows that 36% of workers report freelancing full-time in 2020, up 8% (or 2 million people) over 2019. And, the income of freelancers has also increased to a total of $1.2 trillion in 2020 (a 22% increase from 2019).
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Warren Buffett is notoriously a good investor. Sure, heâs made some mistakes along the way (who hasnât?), but whatever move he makes, you can bet heâs thought it through, and it will pay off â big time.
Which is why when Mr. Buffett made his biggest stock purchase of the year into Apple, we thought, âIsnât it too late to do that?â Apple is already trading at the highest price it ever has. It feels out of reach for us non-billionaires.
But it turns out, thatâs not the case. While we donât have the ability to own $111 billion (yes, billion with a B) in AAPL shares, we can still get our hands on some â and reap the rewards as the market goes up.
One of our favorite ways to get into the stock market and be a part of infamous big-tech returns, without risking billions is through a free app called Stash.
It lets you be a part of something thatâs normally exclusive to the richest of the rich â on Stash you can buy pieces of other companies â including Buffettâs choices â for as little as $1.
Thatâs right â you can invest in pieces of well-known companies, such as Amazon, Google, Apple and more for as little as $1. The best part? If these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.1
It takes two minutes to sign up, and itâs totally secure. With Stash, all your investments are protected by the Securities Investor Protection Corporation (SIPC) â thatâs industry talk for, âYour moneyâs safe.â2
Plus, when you use the link above, Stash will give you a $5 sign-up bonus once you deposit $5 into your account.*
Kari Faber is a staff writer at The Penny Hoarder.
1Not all stocks pay out dividends, and there is no guarantee that dividends will be paid each year.
2To note, SIPC coverage does not insure against the potential loss of market value.
For Securities priced over $1,000, purchase of fractional shares starts at $0.05.
*Offer is subject to Promotion Terms and Conditions. To be eligible to participate in this Promotion and receive the bonus, you must successfully open an individual brokerage account in good standing, link a funding account to your Invest account AND deposit $5.00 into your Invest account.
The Penny Hoarder is a Paid Affiliate/partner of Stash.Â
Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. This material has been distributed for informational and educational purposes only, and is not intended as investment, legal, accounting, or tax advice. Investing involves risk.Â
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
I messed up! Despite trying to make this article as fact-based as possible, I botched it. I’ve made corrections but if you read the comments, early responses may be confusing in light of my changes.
For the most part, the world of personal finance is calm and collected. There’s not a lot of bickering. Writers (and readers) agree on most concepts and most solutions. And when we do disagree, it’s generally because we’re coming from different places.
Take getting out of debt, for instance. This is one of those topics where people do disagree — but they disagree politely.
Hardcore numbers nerds insist that if you’re in debt, you ought to repay high-interest obligations first. The math says this is the smartest path. Other folks, including me, argue that other approaches are valid. You might pay off debts with emotional baggage first. And many people would benefit from repaying debt from smallest balance to highest balance — the Dave Ramsey approach — rather than focusing on interest rates.
That said, some money topics can be very, very contentious.
Any time I write about money and relationships (especially divorce), I know the debate will get lively. Should you rent a home or should you buy? That question gets people fired up too. What’s the definition of retirement? Should you give up your car and find another way to get around?
But out of all the topics I’ve ever covered at Get Rich Slowly, perhaps the most incendiary has been taxes. People have a lot of deeply-held beliefs about taxes, and they don’t appreciate when they read info that contradicts these beliefs. Chaos ensues.
When I do write about taxes — which isn’t often — I try to stick to facts and steer clear of opinions. Examples:
The U.S. tax burden is relatively low when compared to other countries.
The U.S. tax burden is relatively low when compared to U.S. tax burdens in the past.
Overall, the U.S. has a progressive tax system. People who earn more pay more. That said, certain taxes are regressive (meaning that, as a percentage of income, low earners pay more).
A large number of Americans (roughly one-third) pay no federal income tax at all.
Despite fiery rhetoric, no one political party is better with taxing and spending than the other. The only period during the past fifty years in which the U.S. government had a budget surplus was 1998-2001 under President Bill Clinton and a Republican-controlled Congress.
Even when I state these facts, there are people who disagree with me. They don’t agree that these are facts. Or they don’t agree these facts are relevant.
Also, I sometimes read complaints that the wealthy are taxed too much. To make their argument, writers make statements like, “The top 50% of taxpayers pay 97% of all federal income taxes.” While this statement is true, I don’t feel like it’s a true measure of where tax burdens fall.
I believe there’s a better, more accurate way to analyze tax burdens.
Effective Tax Burden
To me, what matters more than nominal tax dollars paid is each individual’s effective tax burden.
Your effective tax burden is usually defined as your total tax paid as a percentage of your income. If you take every tax dollar you pay — federal income tax, state income tax, property tax, sales tax, and so on — then divide this total by how much you’ve earned, what is that percentage?
This morning, while curating links for Apex Money — my second personal-finance site, which is devoted to sharing top money stories from around the web — I found an interesting infographic from Visual Capitalist. (VC is a great site, by the way. Love it.) They’ve created a graphic that visualizes effective tax rates by state.
Here’s a summary graph (not the main visualization):
As you can see, on average the top 1% of income earners in the U.S. have a state effective tax rate of 7.4%. The middle 60% of U.S. workers have a state effective tax rate of around 10%. And the bottom 20% of income earners (which Visual Capitalist incorrectly labels “poorest Americans” — wealth and income are not the same thing) have a state effective tax rate of 11.4%.
Tangent: This conflation of wealth with income continues to grate on my nerves. I’ll grant that there’s probably a correlation between the two, but they are not the same thing. For the past few years, I’ve had a low income. I’m in the bottom 20% of income earners. But I am not poor. I have a net worth of $1.5 million. And I know plenty of people — hey, brother! — with high incomes and low net worths.
It’s important to note — and this caused me confusion, which meant I had to revise this article — that the Visual Capital numbers are for state and local taxes only. They don’t include federal income taxes. (Coincidentally, I made a similar mistake a decade ago when writing about marginal tax rates. I had to make corrections to that article too. Sigh.)
GRS readers quickly helped me remedy my mistake, pointing to the nonprofit Tax Foundation’s summary of federal income tax data. With a bit of detective work, I uncovered this graph of federal effective tax rates by income from the Peter G. Peterson Foundation. (Come on. What parent names their kid Peter Peterson? That’s mean.)
Let’s put this all together! According to the Institute on Taxation on Economic Policy, this graph represents total effective tax rates for folks of various income levels. Note that this graph is explicitly comparing projected numbers in 2018 for a) the existing tax laws (in blue) and b) the previous tax laws (in grey).
Total Tax Burden vs. Total Income
Here’s one final graph, also from the Institute on Taxation and Economic Policy. This is the graph that I personally find the most interesting. It compares the share of total taxes paid by each income group to their share of the country’s total income.
Collectively, the bottom 20% of income earners in the United States earned 3.5% of total income. They paid 1.9% of the total tax bill. The top 1% of income earners in the U.S. earned one-fifth of the nation’s total personal income. They paid 22.9% of total taxes.
Is the U.S. tax system fair? Should people with high incomes pay more? Do they pay more than their fair share? Should low-income workers pay more? Are we talking about numbers that are so close together that it doesn’t matter? I don’t know and, truthfully, I don’t care. I’m concerned with personal finance not politics. But I do care about facts. And civility.
The problem with discussions about taxation is that people talk about different things. When some folks argue, they’re talking about marginal tax rates. Others are talking about effective tax rates. Still others are talking about actual, nominal numbers. When some people talk about wealth, they mean income. Others — correctly — mean net worth. It’s all very confusing, even to smart people who mean well.
Under the Digital Accountability and Transparency Act of 2014, the U.S. Department of the Treasury was required to establish a website â USASpending.gov â to provide the American public with info on how the federal government spends its money. While the usability of the site could use some work, it does provide a lot of information, and I’m sure it’ll become one of my go-to tools when writing about taxes. (I intend to update a couple of my older articles this year.)
The USA Spending site has a Data Lab that’s currently in public beta-testing. This subsite provides even more ways to explore how the government spends your money. (I also found another simple budget-visualization tool from Brad Flyon at Learn Forever Learn.)
Okay, that’s all I have for today. Let the bickering begin!
Amazonâs best-kept secret is out. VRSNL, (short for âversionalâ), has been quietly selling luxury fashion items since September 2019. A total of 30 designers are currently on the VRSNL roster, including Alexander McQueen, Balmain, Prada and Jimmy Choo. What distinguishes VRSNL is a section called âThe Remix,â which features original editorial content that tells stories behind the brands and designers. The retailer also has an app, which allows todayâs trendsetters to shop wherever, whenever.
The post Did You Know that Amazon Has a Secret Luxury Site? first appeared on Century 21Â®.
Year in and year out, we know the holidays are almost upon us when TV networks start airing Home Alone, the iconic family movie that has by now become synonymous with Christmas cheer. And while the first two Home Alone movies starring Macaulay Culkin are the clear fan favorites, the third one (written and produced by the same John Hughes that gave us the first two festive flicks) was deemed the least successful in the series — by far — and failed to make a lasting impression.
And that’s not because of the plot, cast, or setting, but rather the result of the ultra-high expectations created by the first two Home Alone movies, and the fondness audiences had for Macaulay Culkin (which refused to return for a role in the third one, despite popular demand). In fact, the plot of the third Home Alone was quite an elaborate — and downright frightening — one, seeing Alex Pruitt, an 8-year-old boy living in Chicago, fending off international spies who were seeking a top-secret computer chip that was hidden in his toy car.
Unlike a normal cat burglar situation â the first two movies featured petty thieves just trying to score a hit during the holidays, eyeing million-dollar-homes left unattended while the owners were celebrating elsewhere â Home Alone 3 is actually a matter of national security. With four thieves (said to be working for a North Korean terrorist organization) looking to retrieve the toy car/computer chip gifted to Alex by his unknowing neighbor, Mrs. Hess, the movie’s plot tackles a far more dangerous situation that the first two, despite the light way in which it is presented.
But there are two major things that all the Home Alone movies have in common: a clever, brave 8-year-old that will stop at nothing to protect himself and a beautiful Chicago-area home that acts as the ‘battleground’ of sorts where the bad guys get what’s coming to them. And since we’ve already covered the house in the first Home Alone movies, we thought I’d be the perfect time to do some scouting and find the one in the third movie too, especially since it’s no less beautiful.
The real-life house from Home Alone 3
While the movie’s storyline places it in Chicago, the house used in the third Home Alone is located in Evanston — a city 12 miles north of Downtown Chicago. According to ItsFilmedThere.com, the exact address is 3026 Normandy Place, Evanston, and a quick Google Maps search confirms that, showing us the exact same Pruitt family house we see in the movie.
According to real estate website Zillow.com, the Pruitt family home is worth a little over $1,000,000, with neighboring properties all selling for about the same amount — though admittedly, none of the other houses that line the street had a high profile movie credit in their property history. Nor did they have Hollywood A-listers on their grounds (just in case you forgot, the most famous cast member in Home Alone 3 was none other than Avengers star Scarlett Johansson, who played Alex Pruitt’s sister in the 1997 movie).
Just in case you were wondering, the house where Alex Pruitt’s neighbor — Mrs. Hess — supposedly lived is actually located next door, at 3025 Normandy Place.
More famous TV homes
Richie Richâs House is Actually the Biltmore Estate, Americaâs Largest Home The âFresh Prince of Bel-Airâ House Isnât Even in Bel-Air The Real-Life Homes from Modern Family â and Where to Find Them The Simpsons House Gets a Modern Day Makeover
The post Where’s the House from ‘Home Alone 3’? appeared first on Fancy Pants Homes.
A four-bedroom townhouse with park views and tons of charm has recently hit the market, and we’re dying to tell you all about it. The listing, brought to market by Compass’ Michael J. Franco, is right next to Prospect Park, Brooklynâs second largest park, and has plenty of outdoor space (and a rooftop deck to boot).
The townhouse sits in one of Brooklynâs trendiest, most desirable neighborhoods — Park Slope — with its leafy streets lined with brick and brownstone townhouses, many of which were built near the turn of the 20th century and have been lovingly updated over the decades by young families migrating from Manhattan. Much like its neighboring properties, the 2,600-square-foot townhome at 15 Prospect Park was originally built more than a century ago in 1915 and retains its old-world charm — but has been carefully updated to meet modern standards of living.
With 4 bedrooms, 3.5 baths, a generously sized living room, and a finished basement, the Brooklyn townhouse also comes with a few rare features for a New York home: ample outdoor space and private parking (that includes a private garage and its own driveway).
The layout is split on three levels, with the first floor housing a large living room and open dining room — both with distinctive pre-war features like classic moldings and arches — and a renovated kitchen that opens up to a lovely terrace.
The second floor is home to 3 bedrooms and a sizeable landing which is perfect for either a library or a home office, while the third floor is dedicated to the primary bedroom suite and its massive walk-in closet, renovated bath with skylights and soaring ceilings, with a separate sitting area/den. The third level also provides access to the townhouse’s own rooftop deck, which adds more outdoor space and looks like a perfect place to entertain guests.
The property is listed for $4,400,000 with Compass associate real estate broker Michael J. Franco.
More beautiful New York City homes
This Brooklyn Condo Has a Dreamy Backyard that Will Make You Forget Youâre in the City Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million These 5 Unique Listings Will Remind You of Everything that Makes NYC Real Estate Special This $16M NYC Penthouse Has Unobstructed Views of Central Park and the Manhattan Skyline
The post Newly Renovated, 1915-Built Townhouse in Park Slope Asks $4.4 Million appeared first on Fancy Pants Homes.
Fall is one of the most exciting seasons of the year. The trees, the smells, the comfy sweaters and pumpkin spice lattes; itâs a cozy, wonderful time and who wouldn’t want to enjoy that warm vibe all year long?
And since this is the season that prompts us all to spend a little more time inside, homeowners and renters alike tend to step up their interior decor game and invite the fall into their homes, adding notes of warmth and pops of color that are typical for the fall season.
If youâre one of the many people that love fall and youâre looking for ideas on how to decorate your bedroom with seasonal elements, here are some great ideas for you to try.
1. Scented candles
When it comes to decor, we often think about how the room looks. Other senses are often ignored. With fall, itâs hard to ignore the power of scent as there are plenty of smells associated with this season.
Some good scents to bring into your bedroom during the fall season include: fresh fig, warm wood, cinnamon, oak moss, sandalwood, frankincense, patchouli, pumpkin, bergamot, apple, raspberry, clary sage, and so much more. Get several candles in these scents or better yet, get them in various blends. Essential oils could also do the trick on the odor side, but they lack the visual element that a well-picked, nice looking candle would bring.
To step things up a little, you can pair the candles with some nice, seasonal elements to create an arrangement where the candles are the centerpiece. Just remember that candles are flammable, so if you’re adding any seasonal flowers or items that might be lit up, keep them at a safe distance from the flame of the candle.
2. Ambient lighting
The right lighting can create a relaxing mood in your bedroom. This fall, youâll want ambient lighting thatâll make you want to snuggle up in your sheets and never leave.
Instead of the usual white light bulb, opt for ones that emit a warm glow like orange or yellow. This will really go well with your scented candles, plus it has the added benefit of making you fall asleep faster.
3. Warm palettes
Another easy way to decorate your bedroom this fall season is by changing up the color palettes. I’m not saying to go crazy by painting your walls — especially if you’re a renter and don’t have the go-ahead from your landlord to repaint the walls. But there are many other ways to play with colors that don’t involve paint, fumes, or a full day’s worth of work.
Simply replace your current bed linens with some warm colors like orange, burgundy, brown, terracotta, red, and purple. You can also apply this in other areas of the bedroom such as your rugs and curtains, and make use of some nice wall art to supplement the fall color effects.
4. Cozy bedding
Since this season is all about getting cozy, you want to make sure that your bed is conducive to rest. Weighted blankets are the new fad so you may want to consider getting one. But in addition to that, you also have to think about the fabric.
Youâll want to keep warm this fall so consider replacing your current bed sheet and pillows with thicker ones made in velvet, fur, wool, or flannel. Theyâre wonderful fabrics that do more than just make you warm, they also add texture to your room decor.
5. Fall accents
Replace last season’s accessories with fall accents. Some good ideas you can do are a vase of autumn flowers, a tray of pinecones, or even just a fall scented candle.
6. Add in the rugs
One rug is nice but two rugs is even better. This ups the cozy factor allowing more opportunities for you to get warm. If thereâs already one beside your bed, place the second rug in an area where you are likely to spend a lot of time like by the window or the foot of the bed. Opt for a rug in a contrasting color so that it doesnât look too matchy-matchy.
7. Embrace the dark
We know natural light is great but fall is one of the rare times where youâre allowed to embrace the dark. This doesnât mean you have to completely remove natural light from your room altogether, but youâll want to have the option to darken the room if needed. For this, youâll want to put up curtains in a dark color. This allows you to easily pull them together if you want to get extra comfy in the evenings, or even during daytime.
There are plenty more ways to make the bedroom more appropriate for fall but these are the easiest, most effective ways to do it. We hope you enjoyed these tips.
Now onto you. What decor changes do you make in your home during the fall season? Share your thoughts in the comments below.