Tag: Wealth of Geeks

The Best Long-Term Stocks To Buy In 2023 | Wealth of Geeks

Post By Money Making , ,

While the stock market has always been volatile, it has been especially unstable in the post-pandemic era. While they may rattle some, these tumultuous ups and downs barely affect those who routinely invest in long-term stocks.

Investing in long-term stocks helps one avoid most of the drama that the mainstream media loves to cover on Wall Street. This is why many investors try to invest in shares of companies that show stable growth over the years or decades.

That said, what exactly are the best long-term stocks?

Long-Term Stocks

Long-term investments or assets are stocks or similar investments you make intending to let them grow for at least three years. Stocks, fixed deposits, real estate, etc., are the usual form of long-term investment assets.

As mentioned, these kinds of investments are not subject to stock market fluctuations. So they will not likely get you ridiculously high returns over a short period. But they are great at building meaningful wealth over time and a safer option to make money in the stock market.

But how does one recognize the best long-term stocks and shares to invest in?

The best way to judge if a long-term stock is worth investing in is to track metrics that show stable, dependable growth through the years. The more stable the long-term stock, the less likely it is to face gut-wrenching crashes and stupidly high (unsustainable) gains. Those are usually the characteristics of short-term assets.

Which ones are the best long-term stocks to buy in 2023? These stocks should show a steady rise in sales and little to no price drops, especially compared to other stocks in the market. Moreover, if a company has demonstrated dependable growth through the years, chances are that its equity valuations are high too.

The goal is to find the perfect balance between dependability and competitive pricing. Fortunately, post the pandemic debacle, the value of many of these equities has hit a record low, making it the perfect time for long-term investors to grab the best long-term stocks in the market while avoiding a massive hole in their pockets.

The 5 Best Long-Term Stocks of 2023

Dependable and ever-witnessing steady growth, the stocks on this list are the best long-term stocks to invest in this year:

1. Visa Inc.

When it comes to digital payments and credit card networks, there may be no bigger shark in the business than Visa. This year’s fiscal quarters have been smooth sailing for the company as returns continue to exceed expectations.

Armed with a diverse business model, Visa is somewhat recession-proof and has a reasonable valuation. As people’s preferred payment mode continues to take a seismic shift towards establishing a cashless planet, one can easily assume that Visa will continue offering high returns and dividends to its shareholders.

2. Elevance Health, Inc. (ELV)

Elevance currently serves over 119 million people in the US. These numbers include government-sponsored, employer, and individual plans. They are one of the biggest medical insurance providers in the country. Carelon, Anthem, and Wellpoint are all operated by this company.

At the moment, Elevance’s dividend yield stands at 1%. The payout has grown steadily in the past few years, making it a safe bet for long-term investment.

Elevance has always been a steady grower. In the last half-decade, the annual EPS increases averaged 12.2%. It has also steadily outpaced S&P 500 every year for the past five years by an impressive 10%.

3. Mastercard Inc. (MA)

One of the dominant digital payment and credit card networks in the market, Mastercard has seen solid growth so far this year. Recently, with its post-pandemic reemergence in China, Mastercard can quickly emerge as one of the most prominent players in the international payments business.

The company has always boasted a strong balance sheet and cash flow profile. Like Visa’s, its business model is diversified enough to be recession-proof. Since the pandemic-driven shift to digital and credit card payments, the company should keep seeing enormous revenue growth in the coming quarters.

4. Apple Inc. (AAPL)

The biggest US public company, Apple, currently continues to outpace the S&P 500 easily. In the last five years, it has shown incredible stock performance. Its average EPS growth has remained over 20% in the previous few years, although it may fall to 8.7% in the next five years.

Apple’s current dividend yield is 0.6%. In comparison, shareholder yield is 4%, mainly because the company has been working to reduce the outstanding number of shares.

5. Home Depot Inc. (HD)

A leading retailer in home improvement in North America, Home Depot has shown a significantly high dividend yield of 2.4%. The housing market boom during the pandemic led to a lot of growth in the home-improvement sector.

The market has since cooled, with mortgages becoming more pricey than ever. Home Depot has countered the situation by raising prices to maintain steady sales growth. Home improvement is a niche that remains relatively unaffected by online competition, and Home Depot remains the most significant player there.

Advantages of Long-Term Investing

Why should you consider long-term investing? Some of the most significant advantages of investing in the best long-term stocks are:

Great for Beginners

While long-term investments aren’t great at getting people immediate returns, they make the best choice if you want to create a nest egg. What makes it great for beginner investors is that they are relatively low-risk.

You need very little knowledge of the stock market to invest in these stocks. The assets grow in value steadily over the years without you having to intervene.

It Doesn’t Need Constant Monitoring

Long-term investing needs little monitoring and is significantly less time-consuming than short-term investing. You don’t need to constantly monitor the ebb and flow of the market or engage in the stock market drama.

The best long-term stocks are better left alone and can help build meaningful wealth over the years.

Lower Transaction Fees

Suppose you ignore the risk of a price crash. In that case, the most considerable percentage of investment costs comprises capital gain taxes and brokerage fees. Long-term investors are charged these fees less frequently.

Sometimes, the transaction rates are significantly lower, too, compared to what short-term investors must pay. You can even avoid paying capital gain taxes, which are lower in rate than those for short-term earnings anyway, by just letting the returns sit in your accounts and compound.

Tips for Investing in Long-Term Stocks

When in the pursuit of investing in the best long-term stocks, you need to keep the following few things in mind:

Your Investments Should Match Your Goals

Begin by knowing how much you want to save and the time frame you wish to hit said goals. Consider how much risk you are willing to take. While long-term stocks are generally a stable option, there are still low, high, and mid-risk stock options, with the returns varying wildly.

Don’t Put All Eggs in One Basket

Diversify your portfolio as much as possible. So, even in the unlikely scenario where the value of one of your long-term stocks declines, the returns from others should make up for it. Consider investing in multiple asset classes. You can even invest in the subcategories within various asset classes.

Opt For Slow Yet Steady Growth

The biggest perk of investing in the best long-term stocks is stability. Unlike in the case of short-term investments, you don’t need to monitor these stocks constantly. Instead, it is better to leave them alone and let them grow slowly but steadily.

There is no need to try and time the market and keep moving your money from one investment to another. Constantly stock picking, buying, selling, and transferring assets can prove counter-effective when investing in long-term stocks.

Consider Dollar Cost Averaging

Decide how much you are going to invest regularly and stick to it. This makes for a great long-term stock investment strategy. When the unit prices are low, the same amount of dollars can help you buy more units, giving you higher returns.

This may seem counterintuitive, especially when the value of units surges. But dollar cost averaging can help you remain consistent with investments without worrying about market fluctuations. It can also help you balance out potential losses in the long run.

This article was produced by Wealth of Geeks.


Ananyaa Bhowmik is a neurodivergent and queer pop-culture journalist with the Wealth of Geeks. She has previously worked with brands like Sterling Holidays, Myntra, Bajaj, and the Loud Interactive. She is an independent scholar, cat parent, and performance poet. Her areas of research and interest focus on and around digital marketing, Canadian indigenous history, queerness in media, and pop-culture and fandom studies.


Source link

#LongTerm #Stocks #Buy #Wealth #Geeks

20 Ways on How To Travel for Free in 2023 | Wealth of Geeks

Post By Money Making , ,

Do you dream of jetting off on an endless vacation but can’t afford it? Fear no more! With some creative thinking and planning, you can find ways to travel for free.

Imagine discovering ancient ruins in Rome or sipping coconuts under palm trees in the Maldives with zero travel costs. Even if this seems too good to be true, there are multiple strategies that you can use so your next getaway doesn’t break the bank.

Here are 20 tips for traveling worldwide for free, or at the very least, for much less than you thought possible.

How To Travel for Free: 20 Tips To Make It a Reality

Seeing the world and experiencing other cultures is an excellent use of your time and money. But this doesn’t mean you should put the price tag aside and travel regardless of cost. Nor does it mean you give up on your dream and accept a life of entertaining the kiddos.

Through travel hacking and other tricks, you can bring the cost of travel down by getting free rooms and doing things with no money. As an additional bonus, in many cases, you can earn money while traveling.

1. Start a Travel Blog

Making money online is the perfect solution when traveling the world and living the nomad lifestyle. When you become a travel blogger, you can grow your platform and make money online.

Plenty of travel bloggers get to go on a paid trip. If you love to travel and don’t mind writing about it, this may be your option.

As you build your brand and gain exposure, you may have local tourism offices contact you for a visit in exchange for writing about your experience.

However, blogging is hard work and takes time to grow and see results. It’s a dream job when you are passionate about traveling and want to travel. Just know that it won’t be making you money on day one.

If starting a site interest you, check out our step-by-step guide on how to create a profitable blog here.

2. Freelance

If running your own website isn’t of interest to you, consider becoming a freelancer instead. You get hired to write for travel magazines and websites as a freelancer. Then you travel to where the story takes you.

In most cases, your employer will reimburse you for the out-of-pocket expenses you incur during your trip. As with having your own site, as you make a name for yourself, tourism offices will also begin to reach out to you.

3. Work Abroad

One way to travel for free is to work abroad. There are many opportunities to find work abroad, many of which do not require any prior experience.

Working abroad can be a great way to gain new skills and experience and get paid. It can also help you save money to travel for more extended periods. There are many different types of jobs available abroad, so there will be something that suits your skills and interests.

Some popular jobs include doctors, nurses, web development, chefs, an au pair, and more. You can often find work through websites or ask around when you arrive in a new country.

4. Teach English

Teaching English is another excellent way to see the world for free. Many countries will pay for you to move and teach their children the English language. While a bachelor’s degree is nice to have, it is not a requirement.

The only requirement is usually TEFL certification and a valid passport.

Where is the most in-demand place to teach? Japan, China, Taiwan, and South Korea top the list. But this doesn’t mean they are your only options.

Alternatively, you can also teach online using a platform like QKids. It is easy to start, and you can earn up to $200 a day.

5. Look For Work Exchanges

Another option for traveling the world is to look for work exchanges. Several websites offer this service, like Worldpackers. It can be a great way to see the world while getting work experience.

Typically, you must provide basic information about yourself and what type of work you would like. You may also need to provide a resume and cover letter.

Once in a work exchange program, you can search for opportunities matching your skills and interests. You can then apply for the ones that interest you the most.

6. Volunteer Long-Term With Peace Corps

The Peace Corps is a great way to see the world while doing good work. Volunteering allows you to travel globally to some fantastic places at no cost. You will also be able to learn new skills and meet amazing people.

If you are interested in volunteering with the Peace Corps, visit their website to learn more about the program and how to apply.

Additionally, if you are interested in volunteering for a more extended time, the Peace Corps also offers long-term volunteer opportunities. These opportunities typically last two years, allowing volunteers to immerse themselves in the local community and make a difference.

7. Couchsurfing

Couchsurfing is when you stay with a local and travel to a new place instead of staying in a hotel. It’s a great way to meet locals and learn about the culture and customs of a new location.

You can stay with locals who are happy to have you in their homes and get to know the area better by talking to them.

Plus, it’s a smart way to save money on accommodation. Just make sure you are respectful of your host’s home and belongings and that you clean up after yourself.

8. Organize a Volunteer Trip

Volunteering with the Peace Corps is a great option, but you have little say in where you go or what you do. If you know what you want to do and where to go, consider setting up your own volunteer trip.

Use a crowdfunding site to collect donations and use the money to pay for your trip and help those in need. You might even find that some of your friends or family members would like to go and help too.

Depending on what you want to help with, ensure it is OK for you to come. For example, if there is a recent natural disaster and you want to assist, it might be too dangerous. You may have to wait a few weeks until they restore basic services.

Finally, ensure that most of the money you raise goes towards the cause. While you can use some cash for your flight and hotel, you should not be flying first class and staying at a five-star resort.

9. House Sit

One trendy way to travel the globe for little cost is by housesitting. Housesitting allows you to stay somewhere new while caring for someone else’s home and making money. However, there are a few things you need to do to get started with housesitting.

First, you need to find a house to look after. You can do this by searching online or asking friends and family if they know anyone who needs a house sitter. Once you find a house, contact the owner and ask if they want you to stay.

Next, you need to know what they expect from you. Have a list of references and be comfortable caring for pets and plants. Once everything is in order, enjoy your free stay!

10. Swap Houses

If you are open to it, another option is house swapping. This is very much like housesitting, except that instead of getting paid, the person whose house you are staying in stays in your house. One way is to find a house swaps website like HomeExchange.com or HomeLink International.

These websites allow you to search for homes available for swapping worldwide. Another way to find a house swap is through social media websites like Facebook or Twitter.

There are often groups dedicated to housing swaps that you can join. Finally, you can contact friends or family who live in other areas and see if they are interested in exchanging houses for a vacation.

11. Drive Someone’s Car

Driving someone’s car is arguably the unique option on this list. Some people cannot go and need someone to drive them to another part of their country. There are a few ways to make this happen.

Or, they might need to ship their car overseas and need someone to drive to the port.

Finding people who have this need is easier than you might think. Searching online or through shipping companies is one way to go about it. Another is posting on social media sites.

While it sounds odd, driving someone’s car can be a great way to try a new odd job, visit a new area, and have a unique experience.

12. Crew a Cruise Ship

If you’re looking for a unique and exciting way to travel, consider becoming a crew member on a cruise ship. The staff usually are dedicated professionals who ensure the passengers have a great time on cruise ships.

You’ll enjoy free travel and accommodation as a crew member while experiencing new ports and diverse cultures.

To become a cruise ship crew member, you’ll need relevant qualifications and experience. Most cruise lines require their crew members to have a high school diploma. It is also a huge plus if you have completed hospitality or tourism-related training programs.

Once you’ve met the basic requirements, you can apply for positions with different cruise lines. The application process typically involves an online application followed by an interview.

13. Timeshare Presentation

While this option won’t allow you to travel without spending money, you can save significantly by attending a timeshare presentation.

Timeshare presentations present a unique opportunity to travel for free. You can receive vouchers or other benefits to offset travel costs by attending a timeshare presentation.

Most offers are for a shorter trip, like five days, or four nights, and include a hotel stay. The cost is typical $200-$400, and the only requirement is you sit in on a 90-minute meeting about buying a timeshare.

You are not required to buy into the timeshare, only to attend the meeting.

Additionally, some timeshare companies offer incentives for attending their presentations, such as discounts on future purchases or upgrades, including coupons to local restaurants.

14. Take Advantage of Overbooked Flights

If you’re flexible with your travel plans, getting bumped from an overbooked flight can work in your favor. Here’s how to get free travel because of overbooked flights:

  1. Check in online as early as possible. It will increase your chances of being bumped because the airline already has a list of who is on the flight.
  2. Be one of the last to board the plane. This way, you’ll be more likely to be bumped because the airline will want to fill up the plane as much as possible.
  3. Volunteer to give up your seat. If you’re not in a hurry to reach your destination, you can voluntarily give up your heart, in exchange for free travel. Just ask for a voucher or credit to use for future travel.
  4. Be polite and cooperative. If the airline accepts your request for bumping, remain calm and collaborative. Getting bumped will increase your chances of being compensated with free travel.

15. Loyalty Programs

Airline loyalty programs, for example, allow you to earn travel points every time you fly. You can exchange your frequent flier miles for free flights or other travel-related rewards.

Hotel loyalty programs also offer benefits, the best being free hotel stays.

Stick with one airline or hotel chain to earn the most miles or points. It will help you earn points the fastest, and it will be much easier to manage two programs instead of five.

16. Credit Card Rewards

Another great option is to take advantage of credit card reward programs. Many credit cards offer points that you can redeem for free travel. Find cards that offer generous welcome bonuses to earn the most points fast. Sometimes, you can earn enough points with a sign-up bonus for a free flight.

There are many cards offers out there, so you need to put in the effort to find the right travel credit card for you. Also, consider a hotel or airline-branded cards if you primarily use one hotel chain or airline. Having their credit card will be much more rewarding than opting for a non-branded card.

17. Use Your Skills

Taking advantage of your skills is an often overlooked way to travel the globe and save money. List your skills on Craiglist alternatives like Gumtree and TaskRabbit to get paid to help others, such as helping out around the house.

This will allow you to stay at the house for free, reducing costs.

18. Hitchhiking

Hitchhiking is another way to travel for free because all you need is a thumb and a smile! You can usually find a ride within minutes by standing on the side of the road and waiting for a ride. Be sure to carry a sign with your destination, so drivers know where you’re going.

You never know who you’ll meet or where you’ll end up when hitchhiking. One thing that’s for sure is that it’s always an adventure!

Of course, hitchhiking isn’t without its risks. Always use your best judgment when deciding whether or not to hitchhike. If you choose this option, let someone know your plans and check in with them regularly.

19. Take Advantage of Study Abroad

If you are in college, one fantastic opportunity you have available to you is studying abroad. For a semester, you can take classes in a foreign country and explore the area in your free time. If you love the area, you can also apply for a second semester there.

The most important thing to consider with this option is whether or not your college includes housing in your cost or if it is an additional fee. Some programs include this, while others don’t.

20. Use Your Social Network

Finally, make use of your social network. Write a post about where you would love to travel to and see if any of your friends or extended family knows of someone who lives there.

Either they can help you find the best accommodations worth the money, or they might be willing to let you stay a few nights for free. While the odds are slim, you never know. Your aunt’s best friend’s daughter might live in Paris and needs someone to stay at her apartment while she travels home for a week.

Final Thoughts

It is possible to travel for free if you are willing to get creative and utilize the resources available. If you take advantage of the tips above and think outside the box to reach your goals, nothing should stand in your way, not even cost!

So have an open mind and explore how you can visit the places you want to see without putting up any of your own money. It’s possible if you want it badly enough.


Jon is the founder of MoneySmartGuides, which helps people dig out of debt and start building wealth so they can achieve their dreams. He has over 15 years of experience in the financial services industry and 20 years of investing in the stock market. He has both his undergraduate and graduate degrees in Finance and is FINRA Series 65 licensed, and has a Certificate in Financial Planning.


Source link

#Ways #Travel #Free #Wealth #Geeks

10 Most Terrifying Villains That They Were Surprisingly Right | Wealth of Geeks

Post By Money Making ,

Have you ever caught yourself agreeing with or relating to the villain in a story? You’re not alone.

Redditor u/Chadderbug123 asked, “What villain was terrifying because they were right?” And over 17,000 people had something to say. So here are the top ten voted villains that are the most terrifying because they were right.

1. Colonel Kurtz

Colonel Kurtz is a fictional character and the main antagonist of Francis Ford Coppola’s 1979 film Apocalypse Now. Marlon Brando portrayed him. Big-Leadership5185 quoted him, “We train young men to drop fire on people, but their commanders won’t allow them to write ‘the f word’ on their airplanes because it’s obscene.”

BDOID added, “Apocalypse Now is one of those movies where depending upon when you watch it and what version you watch, your view on it can change.”

2. Ken From the Bee Movie

Redditor _shes_a_jar nominated, “Ken from The Bee Movie. I, too, would go absolutely berserk if a talking bee stole my girlfriend and gaslit me into thinking I was crazy!”

Another user, gasparmx, stated, “I completely agree with this; I watched The Bee Movie two weeks ago and felt bad for Ken. He was the only reasonable human in that movie.”

3. Squidward

JeffreyHugh stated, “He’s not a true villain but Squidward. Damn, is SpongeBob an annoying neighbor? I’d hate him too.”

RFB-CACN explained, “Squidward’s a minimum wage worker in a monotonous day job with a boss who explicitly wants him to earn as little as possible.”

They continued, “He cuts costs everywhere while having a musician’s heart and playing his passion instrument to have some happiness and relaxing time for himself.”

Also, “He then proceeds to have his only time of peace and tranquillity stolen from him by a loud, inconvenient neighbor who doesn’t take care of his responsibilities and makes fun of him for not being a pro at music.”

Finally, they concluded, “Most SpongeBob episodes I watch nowadays have me rooting for Squidward just to murder those two morons before they induce a depression breakdown on our Squid Boy.”

4. Ultron

Redditor saucyboi9000 stated, “Ultron browsed the Internet for 30 seconds and decided humanity had to go.”

SDN_stilldoesnothing added, “He could have come straight to Reddit and saved himself 29.5 seconds.”

Another user, darksabre1500, joked, “And the video player would take another 10 seconds to load.” Tephra022 added, “With Ultron processing speed, that probably would feel like 1000 years, and all he would get is a s***** video clip from TikTok. Humanity was doomed from the start.”

Finally, Embarrassed-Ad-1639 noted, “But the ‘Oh No’ song would be enough to send him.” Ultron is the villain in Marvel’s The Avengers: Age of Ultron.

5. The Replicants

Chatty_Monkey_Don nominated “The Replicants from Blade Runner. They were enslaved and given artificially short lives. They just wanted to live and be free.”

Unlucky_Junket_3639 noted, “They didn’t have artificially short lives in the book. The scientists just couldn’t figure out how to make them live longer. Their digestive system would start breaking down.”

6. AUTO

Redditor percolin2007 stated, “AUTO From WALL-E. It was one of the only almost perfectly executed ‘AI’ villains. He never talks unless needed because he wasn’t programmed with malicious motives and did everything efficiently.”

They continued, “He’s only ‘bad’ because he’s following his programming, protecting the humans and not letting them back to Earth. Not out of malicious intent, but it was what he was programmed to do.”

7. Magneto

User sonic_tower answered, “Magneto. He knew humans’ hate for mutants and wasn’t as blindly optimistic as Xavier. True Malcolm X of the mutant rights movement.”

MotherLoveBone27 quoted Magneto, “The nations of the world spend over a trillion dollars a year on armaments. I intend to deny them that indulgence. The money and energy devoted now to war will be turned instead to the eradication of hunger, poverty, and disease. I offer a golden age, the like of which humanity has never imagined!”

8. Count Dooku

Redditor dmatred501 said, “Count Dooku just straight up told Obi-Wan that the Sith control the Senate.” Tjd3211 added, “If you want to go even further, in the Clone Wars, Maul tells Ahsoka that Anakin is the key to Palpatine’s plan and the only way to stop everything going to s*** is to kill Anakin.”

RealisticEmployment3 suggested, “Dooku is a nuanced character. Even though he was Sith, he never fully submitted to the dark side. He also recognized the Jedi had become ineffectual at solving problems, and the Republic was bloated and corrupt.”

They concluded, “He was an idealist that wanted what was best for the galaxy, even if that meant joining the nemesis of his old order.”

9. General Hummel

SideQuestWriter87 answered, “General Hummel from The Rock.” User sonic_tower agreed, “He is a literal terrorist, but he gets sympathy from almost every character in the movie, including those trying to stop him. He was a loyal leader who made concrete demands and never intended to kill anyone.”

BigTuna0890 added, “And the money he wanted his ransom to come from was –checks notes – profits from illegal arms sales done by the Pentagon.”

CH33KCL4PP3R6_9 clarified, “He wanted pension payouts to the families of the illegal operations casualties. He wanted them to recognize the soldiers who died in the field and have the government payout to their families.”

10. Bobby Heenan

Redditor lel1988 stated, “Bobby Heenan spent the ’80s telling us how awful and selfish Hulk Hogan was. And he was proven absolutely correct in 1996. In hindsight, Heenan was trying to save us all from the inevitable scourge of Hollywood Hogan.”

Another user, moviemerc, admitted, “Did not expect a wrestling comment to be at the very top. Pleasantly surprised. I was ten years old when Hogan flipped—I lost it!”

Finally, interprime stated, “Heenan eventually came full circle and will forever be fondly remembered by the fans that loved him. And he will never be considered a heel in my eyes after his Hall of Fame speech; I wish Monsoon was here.”

What do you think? Did Reddit name any villains that you believe are right in their thinking? Who else would you add to this list?

This article was produced and syndicated by Wealth of Geeks.


Source link

#Terrifying #Villains #Surprisingly #Wealth #Geeks

18 Best Cities To Invest in Vacation Rentals | Wealth of Geeks

Post By Money Making ,

Are you looking for the perfect place to start investing in vacation properties? Choosing a city is an important decision – it can be crucial for financial success.

Knowing where to begin can take a lot of work with so many options! Fortunately, we have done the research and narrowed down our top picks for cities that are ripe with opportunities when it comes to vacation rental investments.

From coastal escapes in sunny Florida to impressive mountain scenery in Montana – our list of the best cities to invest in vacation rentals will help you decide about your next vacation home rental!

What To Look for When Investing in a Vacation Rental Property

Image Credit: Shutterstock.

While the location is critical for short-term rentals, it is not the only factor. With vacation rental properties, owners should use a rent affordability calculator to determine rates and perform improvements that provide an experience equal to or greater than a hotel. Doing this will ensure steady bookings and income for your property.

Of course, you must also run the numbers, as not every property is a good deal. Take the time to complete a detailed analysis before you begin investing. This includes speaking with local officials, as many municipalities are cracking down on short-term rentals. The last thing you want to do is purchase a property intending to rent it out, only to find the community is voting to outlaw short-term rentals.

With that said, let’s look at the best 18 cities to invest in vacation rentals.

1. Castroville, CA

Castroville California welcome sign
Image Credit: David A. Litman / Shutterstock.

If you are looking for a getaway to a small town that feels like a home away from home, look no further than Castroville, California.

Castroville is a small agricultural town located a few miles west of Monterey Bay in southern California. This small city provides many attractions, such as the scenic view along the Monterey Peninsula or watching workers unload the day’s catch at Old Fisherman’s Wharf.

The annual revenue potential is $133,934.

2. Lakehead, CA

Lakehead California outdoors
Image Credit: Sundry Photography / Shutterstock.

Lakeland is a vacation destination for people who enjoy being active.

Families interested in caverns and rock formations visit Lakehead in northern California. One of the main attractions is the Lake Shasta Caverns. Vacationers can also choose to do a boat ride or a bus tour.

The annual revenue potential is $66,359.

3. Manchester, CA

Fort Ross Historic Park in California
Image Credit: Brester Irina / Shutterstock.

Manchester is on the coast of northern California. Tourists can do various outdoor activities, like visiting Coast Lighthouse, whale watching outlooks, and Fort Ross State Historic Park.

The trick with this location, as with many other locations in California, is high home prices, making it more difficult to profit with rental real estate. This is not to say you cannot make money, but finding a vacation rental property that fits your budget and can provide an income might take longer.

The annual revenue potential is $62,403.

4. Apollo Beach, FL

Apollo Beach, Florida
Image Credit: Shutterstock.

If you enjoy the ocean, owning a beach house rental property in Apollo Beach can’t be beaten.

Apollo Beach is near Tampa Bay in Florida. Tourists can spend their day on the beach or visit the Apollo Beach Nature Preserve, a 63-acre nature preserve for various aquatic species, and the Manatee Viewing Center.

The annual revenue potential is $48,101.

5. Cherry Log, GA

Cherry Log Georgia waterfalls
Image Credit: Shutterstock.

Cherry Log may be an option for you if you’re interested in investing in a mountain vacation area.

This city boasts a local barbeque favorite, The Pink Pig, and a horseback ride with Adventure Trail Rides.

The annual revenue potential is $41,399.

6. Cleveland, GA

Cleveland Georgia
Image Credit: Shutterstock.

This Cleveland is different from the city in Ohio. This Georgia city offers various activities, such as North Georgia Wildlife Park, Yonah Mountain Vineyards, and the Babyland General Hospital.

The annual gross rental revenue potential is $36,701.

7. Slade, KY

Lake in Slade Kentucky
Image Credit: Shutterstock.

Slade is east of Lexington, KY, and offers multiple trails for hiking enthusiasts within the Red River Gorge, making it a top vacation rental location. Also, the Nada Tunnel is an exciting way to enter the Red River Gorge.

The annual revenue potential is $39,124.

8. Manistee, MI

Manistee Michigan Lighthouse
Image Credit: Shutterstock.

You can find the small town of Manistee on the edge of Lake Michigan. This city has 25 miles of sandy Lake Michigan shoreline, the Manistee North Pierhead Lighthouse, and a historic theater.

If you plan to buy a vacation home here, consider adding a hot tub, as many short-term renters look for this amenity.

The annual revenue potential is $50,459.

9. Lutsen, MN

Kayaking on Lake Superior
Image Credit: Dan Thornberg / Shutterstock.

Lutsen is a quaint little town located just off Lake Superior and is a popular skiing destination, and is the perfect vacation rental for those looking to disconnect from the world. Tourists can also visit the Cascade River State Park on the north tip of Lake Superior.

The annual revenue potential is $62,635.

10. Nevis, MN

Lighthouse in Minnesota
Image Credit: Shutterstock.

If you are looking for the world’s largest Tiger Muskie, a vacation rental property in Nevis is the place to be! With access to various lakes, fishing fans will find this location a great catch. After all, there is a reason Minnesota is known as the 10,000 lakes state.

The annual revenue potential is $30,297.

11. Two Harbors, MN

Split Rock Lighthouse in Minnesota
Image Credit: Shutterstock.

Two Harbors is another city off of Lake Superior. Whether you’re out-of-state tourists or medical school students driving from the Mayo Clinic, Two Harbors provides attractions like Gooseberry Falls State Park and the Split Rock Lighthouse. While there aren’t white sandy beaches like in Florida, this is a cheaper beach vacation for many families.

The annual revenue potential is $32,355.

12. West Glacier, MT

West Glacier Montana
Image Credit: Shutterstock.

Vacationers seeking wilderness and solitude perfectly match the Glacier National Park in West Glacier. This location offers endless outdoor adventure options, from hiking to fly fishing and more. Visitors can also do a boat tour or rafting on the Flathead River.

A must-have for vacation homes here is a jacuzzi. Many potential renters filter by this feature, so by not having one, you could have the ideal house for a family vacation and never show up in the search results of vacation rental sites.

The annual revenue potential is $49,291.

13. Tuckasegee, NC

Lake in Tuckasegee North Carolina
Image Credit: Shutterstock.

In western North Carolina, Tuckasegee offers many outdoor activities for nature lovers.

Tuckasegee has the largest stair-step reservoir at Bear Creek Lake, a popular destination for anglers and boaters. There are also Class II rapids that are gentle enough for kayaking or canoeing. Its location also allows renters to enjoy the Great Smoky Mountains in Tennessee.

The annual gross revenue potential is $38,188.

14. Rockbridge, OH

Rock formation in Rockbridge Ohio
Image Credit: Shutterstock.

One might not think of a smaller town in Ohio as a prime vacation rental market, but here it is.

Rockbridge is just south of Columbus, OH. High Rock Adventures and Hocking Hills Canopy Tours are some of the many tourist attractions in Rockbridge.

The annual revenue potential is $45,447.

15. Pocono Summit, PA

Pocono Summit, Pennsylvania
Image Credit: Shutterstock.

Pocono Summit is located on the east side of Pennsylvania and draws vacationers in all four seasons. There’s a wide range of attractions, from water parks to ski slopes and stunning state parks.

The most important thing for potential vacation rental owners in this location is contacting local officials. Many municipalities in this region are cracking down on the short-term rental market by placing ordinances that discourage or outright ban them.

The annual revenue potential is $55,023.

16. Whitwell, TN

Kayaking on the river
Image Credit: Shutterstock.

Tennessee is becoming one of the most popular states to move to, and along with that comes the popularity of vacationing here. The state is seeing a hotter-than-usual real estate market, so finding a good deal on a vacation investment property could be challenging. Still, there are areas to consider.

Whitwell is 24 miles northwest of Chattanooga. Outdoor activities include the Canoe Kayak Chattanooga and the Sequatchie Valley Institute. Families wanting to enjoy more of mother nature will be interested in booking their next trip here.

The annual revenue potential is $35,116.

17. Denison, TX

Eisnehower POW MIA Memorial in Denison TX
Image Credit: Rosemarie Mosteller / Shutterstock.

In some cases, people choose to vacation in an area outside of the major city they are visiting to cut down on costs. Denison could fit this description for those looking to travel to Dallas.

Denison is north of Dallas, home to several Eisenhower Veterans Monuments and Eisenhower’s Birthplace State Historical Park. Families who enjoy adding history lessons to their outdoor adventures will enjoy this place.

The annual revenue potential is $26,854.

18. Shenandoah, VA

Fall foliage in Shenandoah Valley
Image Credit: Shutterstock.

This small town is nestled within the Blue Ridge Mountains of Virginia, making this an excellent option for those who love the outdoors.

Shenandoah is within driving distance of the Washington, D.C. metro area and features many tourist attractions, such as the Shenandoah National Park, Luray Caverns, waterparks, and wineries. There are also multiple ski resorts close by, allowing for solid income during the winter months.

The annual revenue potential is $44,426.

Tips for a Successful Vacation Property

Vacation rental properties on the coast.
Image Credit: Shutterstock.

These are the best cities to invest in vacation rentals. If you are considering buying an investment property for vacation rentals, do your homework first. Many rental property markets have seen a significant increase in investors looking into real estate investing who opt for the vacation rental industry. With more competition, home prices are higher, impacting your rental income.

To be successful in short-term rentals, especially for family vacations, you need to invest in an area that is popular but also provides activities for the whole family. Consider also that pet-friendly rental homes are in high demand, which could help you be profitable.

Remember, too, that you must contact local officials to ensure short-term rentals are legal. The good news is that the crackdown is only on these types of rentals, not long-term rentals. You could still find your vacation house if you are open to that option.

Finally, if your vacation rental home is far from where you live, consider hiring a property management company to handle your day-to-day tasks. Otherwise, your dream could turn into a nightmare.

This article was produced and syndicated by Wealth of Geeks.


Jonathan Sanchez is a real estate investor and personal finance blogger for Parent Portfolio. He owns a small real estate business that operates a couple of investment properties in his local market. He aims to help others understand their money and generate passive income. He’s also been featured in Business Insider, USA Today, and FOX Business.


Source link

#Cities #Invest #Vacation #Rentals #Wealth #Geeks

17 Exciting Money Savings Challenges To Help You Save Happily

Post By Money Making , , , , , ,

Do you always find it difficult to save? Does your money always seem to disappear with no explanation or account for it? Then you are among a million others.

Saving has never been fun—till now because we might want to buy that pair of Air Sneakers or eat out at the new restaurant by the street corner rather than put money in a piggy bank. I mean, who cares? We only live once. 

That is a big NO!

The first step to financial ruin is the inability to reserve a part of your income for rainy days that, more often than not, actually happens. A money savings challenge bridges the gap between the need to protect and a lack of motivation because it brings all the fun into savings. So, how do you reconcile a lack of motivation to save and the need to keep? 

How does it feel to keep your fingers crossed when you decide to go for the Wednesday weather challenge or have to test your mathematics skill with the round-up savings challenge?

The truth is that this money savings challenge is the best bet for most of us to make some worthwhile savings and form a healthy money habit while at it.

What Are Money Savings Challenges

A money savings challenge is a fun, planned way of saving money over time. You can do it with friends and family; let’s see who can fight it! So, you plan to go beyond your normal inclination and get a reward.

There are different money challenges on the internet; maybe you can even come up with one. But, it would be best to consider some things when doing any money savings challenge.

How To Choose Which Money Savings Challenge To Do

Know Your Goals

What are your savings goals? Is it long-term? Is it for a big project? Or is it to get something from the boutique across town?

Your savings goal should determine the kind of savings challenge you will try because if what you want to do at the end of the day is to get a car, the savings challenge to do will be different from someone whose end goal is a retirement nest egg or someone who wants to buy the latest Fendi.

Know Yourself

Challenges aim to let you do something beyond what you would typically do, but at the same time, a challenge should not be something that is widely far from who you are. This is because you will most likely give up along the line.

Start with something strictly close to your money habits; when you have developed some control, you can move on to something stricter.

Check Your Finance

Another point to note when starting a money savings challenge is how much you make daily. Will the amount you make accommodate the type of challenge you are doing? If you make $100 daily, you don’t want a savings challenge that drains you of 20% of that money—depending on your needs.

Money Savings Challenge To Help You Save Happily

After thorough consideration, you can proceed to select the savings challenge you’ll like to participate in, and here are some of my top picks:

The 52-Week Money Challenge

With the 52-week money challenge, you save $1 the first week and keep adding a dollar per week. The entire amount at the end of the year will be $1,378. You can switch this up by increasing your savings if your income accommodates such changes.

100 Envelope Challenge

For the 100 envelope challenge, you save an equivalent amount of money in a labeled envelope for 100 days. It means the highest savings is $100, and the lowest is $1. If the envelope is marked 50, you put in $50; if 2, you put in $2.

$5 Daily Challenge

If you are looking for a money challenge that will get you a significant amount without strain on your purse, try the $5 daily challenge.

For three months, a daily saving of $5 will add up to $450. Try keeping up with it for a year; you will get $1,825 in savings.

The Spare Change Challenge

Do you have spare change lying around? Or do you get change from your grocery purchases? You can save them. Get a piggy bank for coins, a money envelope, or a money box, and keep the spare change over a period. 

Depending on your purchases, they can add up to a significant amount quickly.

Also, you can invest your spare change using Acorns – Invest Spare Change 

26-Week Savings Challenge

Like the 52-week savings challenge, the 26-week challenge lets you save every two weeks. So, instead of holding every week, you can extend the timeline to two weeks, but you must increase the deposit. Save $4 every two weeks and keep adding $4 every two weeks. At the end of 26 weeks, you’ll have $1,404.

365-Day Nickel Challenge

You do this savings challenge for 365 days! On the first day, you save a single nickel—5 cents, and the goal is to keep adding a nickel daily. Counting the nickels saves $18.40 on the last day, which is fair. At the end of the year, you would have held $3,339.75! How amazing is that?

Weather Wednesday Challenge

This savings challenge is so fun and unpredictable. Every Wednesday is a day to save, and the amount you save depends on the weather! So, who cares if the temperature in winter is minus degrees? You can keep more in the summer.

Simply check the local weather update on your mobile device or the news and add the exact amount to your savings box.

$1 Savings Challenge

This challenge is similar to the spare change challenge but pretty specific. This savings challenge can quickly add up, but at the same time, it might not be substantial enough.

Every time you get a $1 bill, keep it. Depending on you, you can save for the whole year or half a year.

No Spend Challenge

If you are an impulsive spender, you might want to try the No spend challenge, although it might be difficult on your first try. How about spending money only on bare necessities like feeding and transportation? Not including fast foods, discount sales—no matter how good, splurging on cabs, and night outs. 

Start with a simple goal, like a day or a week, and extend it as far as possible. Let’s see how much you can save in 12 months!

The Penny Challenge

The penny challenge is a fun and easy way to build up extra money, especially when you have no savings allowance. Start the first day with a penny and add one to your stack daily.

After 365 days, you would have saved $667.95!

The Round-up Challenge

This challenge is pretty exciting. 

When you make any purchase that isn’t a round figure online or in-store, round it up and save the extra. For example, if you buy a pair of slippers at Walmart worth $9.45, round it up to $10 and save the $0.55 in your shoebox. Set a time range and count the change afterward.

1% Salary Saving Challenge

As the name implies, you set aside 1% of your annual salary to save. For example, if you earn $60,000 annually, 1% of that will be $600, which means dividing monthly will give you $50.

Find ways to save $50 monthly; you will have that much saved in a year. As usual, you can improvise and make it 10% instead. Just determine how much you can spare without overindulging in your wants.

Coffee Break Challenge

Are you addicted to Starbucks? Try saving on it instead.

Set up a portable money box or just one beside your coffee pot. Whenever you crave to go to Starbucks or make your coffee, give yourself a coffee break challenge and fill up your money box with the amount you would’ve spent in Starbucks.

It can quickly add up to $1,000 in a year, depending on how addicted you are. haha

30-Day Minimalist Challenge.

For the minimalist challenge, get rid of a single item you do not need per day. You can sell these items on Etsy, eBay, or Craigslist and save the money you earn, or you can donate the items to any of the local charities around you. When you get rid of something, you take your mind off spending.

The $20 Savings Challenge

This savings challenge can be 52 weeks, a month, or half a year, depending on your savings goals.

If you set aside $20 weekly, you will have $1,040 in 52 weeks. You can break this down if you think you won’t be able to spare that amount in a week, or you might spend it all. Try saving $2-$3 daily, which will add up.

The $33.33 Challenge

If you can spare as much as $33.33 daily, try saving it for 30 days. Keeping $33.33 per day for 30 days will get you $999.90! If this is too much for you to put in daily, how about adjusting it to suit your income? 

For example, $33.33 every three days will be $333 monthly. If you keep this up for the whole year, you will have $3,996 in 12 months! 

Stackopoly Game Challenge

The Stackpole game challenge was created by a military wife who was conscious about budgeting. You play a Stackpole game by rolling a die to determine how much you have to save per week. The prices are fair and range between $10 – $30. You can get a digital download of the game as a printable or PDF.

Benefits of a Money Savings Challenge

  • It is easier to save money using a money savings challenge. Your financial goals might seem too big compared to your income, but the savings challenge will break it down.

  • Money savings challenges are fun, especially those you can do with friends and family.

  • The best part of these savings challenges is that you can predict the amount it will add up to, making planning easier.

  • A money savings challenge is a motivation to keep saving.

How To Be Successful With a Money Savings Challenge

No matter how fun and exciting a money savings challenge is, it is easy to give up on it. Here are some tips to help you stay on track and complete any challenge you decide to do:

  • Set up a tracker

  • Have an accountability partner

  • Automate if you can 

  • Create reminders

Conclusion

Money savings challenges will help you become a better saver and grow healthy money habits you can share with your friends and family.

You can make savings more fun by engaging with those around you, and you should tailor your savings to suit your current financial state. Any savings challenge you do, make sure it is not burdensome on you.


Michael launched Wealth of Geeks to make personal finance fun. He has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, and save for retirement. Michael is passionate about personal finance, side hustles, and all things geeky.


Source link

#Exciting #Money #Savings #Challenges #Save #Happily

Top 10 Most Culturally Rich States in America – Is Your State on the List? | Wealth of Geeks

Post By Money Making ,

The United States is full of historical and artistic treasures. Each state boasts its own unique cultural identity. New research reveals America’s top ten most culturally rich states, based on the number and significance of their cultural attractions. Did your state make the list?

The study conducted by FloridaRentals analyzed the number of cultural attractions in all 50 states and rated them on a percentage basis of the total attractions available. Landmarks, museums, and art galleries are all considered cultural attractions.

With 19,748 attractions, 3,692 landmarks, 2,225 museums, and 897 art galleries combined, these ten states are a treasure trove of history, heritage, and artifacts.

#10 – Delaware

Delaware may be a small state, but it’s home to 828 attractions, 150 landmarks, 75 museums, and 20 art galleries, with 29.59% considered culturally significant. According to Delaware Historical and Cultural Affairs, the state has 13 historical places designated National Historic Landmarks out of approximately 2,500 nationwide.

New Castle Historic District is an entire town with historic buildings dating back to the 17th century. The Old Swedes Church in Wilmington is one of the oldest churches in the United States. The Winterthur Museum, Garden, and Library houses a large collection of American decorative arts.

#9 – South Dakota

Coming in ninth, South Dakota has 1,166 attractions, 192 landmarks, 135 museums, and 31 art galleries, with 30.70% considered of cultural value. The Mount Rushmore State’s cultural heritage combines Native American, Western, and European traditions. The gold rush also attracted miners, gamblers, and outlaws.

The Crazy Horse Memorial features the world’s largest mountain carving in progress, and sections of Badlands National Park are dedicated to Native American communities. Deadwood, once a booming gold rush town known for playing by its own rules, is now a National Historic Landmark. Institutions like the South Dakota Art Museum and the Dahl Arts Center have large collections by local artists.

#8 – Massachusetts

Massachusetts came in eighth with an impressive 6,812 attractions, 1,223 landmarks, 631 museums, and 266 art galleries, with 31.25% ranked culturally. Massachusetts holds an important place in American history, as one of the thirteen original colonies and the site of the first settlement.

Boston is home to the Freedom Trail, a 2.5-mile-long path through historical sites such as the Massachusetts State House and the USS Constitution Museum. Notable art galleries include the Museum of Fine Arts, the Harvard Art Museum, and the Massachusetts Museum of Contemporary Art.

#7 – Vermont

Vermont is number seven on the list, with 1,656 attractions, 307 landmarks, 148 museums, and 74 art galleries, with 31.94% considered cultural. The Green Mountain State is known for its art, beautiful landscapes, and progressive social values. Vermont played an essential role in the American Revolution with the Battle of Bennington and was the first state to abolish slavery.

The Shelburne Museum, the largest history and art museum in northern New England, spans 45 acres and houses 39 historic buildings and galleries. Notable museums include the Brattleboro Museum & Art Center, the Middlebury College Museum of Art, and the Southern Vermont Arts Center. The Bennington Museum offers a glimpse into the region’s past through an extensive collection of over 30,000 objects.

#6 – West Virginia

Coming in sixth is West Virginia, with 1,370 attractions, 284 landmarks, 122 museums, and 36 art galleries, with 32.36% considered cultural. West Virginia’s cultural heritage is tied to its Appalachian roots, including music, crafts, and culinary traditions.

Harper’s Ferry, a National Historic Landmark, was the site of abolitionist John Brown’s famous raid in 1859, which played a significant role leading up to the Civil War. The state is home to museums like the West Virginia State Museum and the Huntington Museum of Art, which feature everything from local history to contemporary art. The Tamarack Fine Arts Gallery features the work of more than 500 local artists.

#5 – Rhode Island

Rhode Island landed fifth with 1,499 attractions, 360 landmarks, 125 museums, and 49 art galleries. Of those, 35.63% were considered cultural. Rhode Island’s cultural heritage reflects its colonial history, maritime traditions, and contributions to the Industrial Revolution. The state is also known for its theater, music, and fine arts.

The Slater Mill Historic Site in Pawtucket was the birthplace of America’s industrial revolution. Historic Newport mansions offer a glimpse into the lifestyles of America’s elite during the Gilded Age. Art lovers can appreciate the Rhode Island School of Design Museum, the Providence Art Club, one of the oldest art organizations in the country, and the Newport Art Museum.

#4 – North Dakota

North Dakota came in fourth with 653 attractions, 169 landmarks, 64 museums, and seven art galleries, with 36.75% considered cultural. North Dakota’s rich heritage is tied to its indigenous roots, with various museums and cultural centers dedicated to Native American traditions and history. Folk and traditional music are a large part of North Dakota’s cultural arts.

Notable institutions include the North Dakota Heritage Center and State Museum in Bismarck, home to a collection of artifacts that explore the history and culture of the state. The Plains Art Museum in Fargo features contemporary and traditional art. Landmarks such as the Knife River Indian Villages National Historic Site offer a look into the lives and traditions of the Northern Plains tribes.

#3 – Kansas

Kansas placed third with 1,363 attractions, 330 landmarks, 247 museums, and 39 art galleries, with 37.65% considered cultural. Kansas’ history as a frontier state and agricultural innovator dates back to the 19th century. The state also has rich Native American history, with numerous tribes once calling the state home.

The Kansas State Capitol is decorated with impressive murals and sculptures depicting the state’s past. Kansas is also home to important historical sites like the Brown v. Board of Education National Historic Site. Notable museums and art galleries include the Kansas Museum of History, the Wichita Art Museum, and the Spencer Museum of Art at the University of Kansas.

#2 – Mississippi

Mississippi came second with 1,377 attractions, 310 landmarks, 173 museums, and 41 art galleries, with 38.05% considered cultural. The Magnolia State’s cultural heritage is influenced by a mix of African American, Native American, and European American traditions, evident in its music, literature, and cuisine.

The Vicksburg National Military Park is an important landmark home to monuments and civil war battle sites. Mississippi has several noteworthy museums, including the Mississippi Civil Rights Museum and the Delta Blues Museum. The Walter Anderson Museum of Art and the Ohr-O’Keefe Museum of Art are well-known galleries featuring some of Mississippi’s most famous artists.

#1 – New Mexico

Ranked the most culturally rich state in the United States, New Mexico consists of 2,751 attractions, 367 landmarks, 505 museums, and 334 art galleries. Of those, 43.84% are considered cultural. A blend of Native American, Hispanic, and American traditions, New Mexico’s diverse cultural heritage can be seen in its art, cuisine, music, and architecture.

Famous landmarks include the ancient ruins of Chaco Canyon and the adobe structures of Taos Pueblo, a UNESCO World Heritage Site. The New Mexico Museum of Art in Santa Fe houses an impressive collection of Native American and Hispanic art, while the Museum of International Folk Art showcases traditional folk art. The Georgia O’Keeffe Museum is dedicated solely to this iconic artist’s work, often called the “Mother of American modernism.”

This article was produced by Wander With Alex and syndicated by Wealth of Geeks.


Alex Sumuel is the founder of Wander With Alex, where she provides vacationers and travel enthusiasts with trip ideas, travel guides, and itineraries. She travels to experience, eat, and explore– and, on occasion, escape! She’s a proud Virginia native who has also founded the Explore Coastal Virginia website. Alex’s mission is to help people travel better.


Source link

#Top #Culturally #Rich #States #America #State #List #Wealth #Geeks

MIT Drop-Out, Alexandr Wang Became The World’s Youngest Self-Made Billionaire at 25 | Wealth of Geeks

Post By Money Making , ,

Making a self-made millionaire is most often attributed to dedication and hard work. It’s a status many aspire to have, as the world revolves around money, and well, millionaires have that.

But there are very few people that ever grow up thinking that they’ll become a billionaire. Instead, there is a preconceived idea that a lot of work and a huge amount of time are needed to get there. But is this notion correct?

Well, for some, like Alexandr Wang (now 26), the co-owner of Scale AI, it came at the early age of 25. While he is not technically the youngest billionaire in the world, he is ranked third on the list.

However, he is the youngest self-made billionaire on the planet right now. Both Kim Yung-Youn (18) and Kevin David Lehmann (20), who are first and second on the list, have inherited their wealth.

The odds of becoming a billionaire are so low that not even the most prolific professional gamblers wouldn’t even dare to chance their luck with them. Statistics show that there are just over 700 billionaires in America.

With a population size of 336.2 million as of 17 March 2023, it leaves the odds of you becoming a billionaire at  480,285:1 in the USA. Yet despite dropping out of one of the most prestigious tech schools in the country, Wang has made it onto the list as one of the youngest billionaires in the world. What was his secret?

What Does It Take To Make It as One of The Youngest Billionaires by Self-Made Means?

Image Credit: Wealth of Geeks.

A brief look at Wang’s life reveals some key factors that may contribute to his enormous wealth. While there is a lot more that goes into the package, there are some definite stand-out points:

  • Intellect
  • Timing
  • Risk Taking

Intellect 

From a young age, Alexandr Wang was both a math guru and a self-taught coding whizz. In fact, by 17 years of age, he already had a coding job at Quora, the world’s leading question-and-answer site. It is here that he met Scale AI’s co-founder, Lucy Guo.

Alexandr Wang made it into MIT, which is by no means an easy feat, as it has an acceptance rate of only 6.7%. So, there is no questioning the man’s IQ at all.

MIT has turned out great minds over the decades, including Buzz Aldrin (the second Astronaut to walk on the moon), Irene S. Gordon (ranked 45th in Fortune Magazine’s list of the 50 Most Powerful Women in Business in 2015), Jonah Peretti (co-founder of both Buzzfeed and the Huffington Post), Kofi Anan (Secretary General of the UN from 1997 to 2006), and Andrea Wong (president of Sony International Production), to name a few.

Timing 

The world of technology is blazing a trail so fast that ideas and concepts must be instituted immediately to prevent the next person from taking it and running with it. Such was the case with Alexandr Wang.

He was studying machine learning and artificial intelligence at MIT when he saw a gap and took it. The uses for AI are endless today, and getting into the industry as early as possible meant that he was positioned on the pioneering side of the technology and not on the tail end of it.

So, at 19, he dropped out of college after completing only his freshman year and started Scale AI in 2016. The timing was tremendous, as numerous industries sought to implement machine learning into their business structures.

They started supplying autonomous vehicle companies with the data needed to implement machine learning models. They then expanded their repertoire to other industries, including enterprise automation, e-commerce, insurance, robotics, and more. The turning point came when they managed to secure contracts with the US Air Force to implement AI into the military protocols to optimize their data management.

Scale AI’s tech can analyze satellite images far quicker than human analysts can, which has aided massively in determining the damage that Russian bombs are having in Ukraine. These contracts have amounted to $350+ million with the government alone.

Risk-Taking 

Speak to any successful entrepreneur, and you’ll hear all about the risks they took to make their businesses work. Dropping out of one of the most prestigious schools in the country is taking a massive chance. But when an opportunity is staring you in the face, sometimes you must make the hard decision.

Even without the bachelor’s degree that so many people think you need, it is possible to make it. Like a game of poker, if you have a good strategy, implement it. And when you’re not sure you will be successful, bluff your way to a win.

Alexandr Wang didn’t have all the qualifications he needed to gain work at the level he did, but his gamble paid off, and he now has a 15% stake in a $7.3 billion company, bringing his net worth to just under $1.1 billion.

Success Stories of More of The Youngest Billionaires in The World

mark zuckerberg ed craven
Image Credit: Wealth of Geeks.

There are stories of many other young billionaires, and their tale is very similar. Their success was determined in a similar manner too. They knew something about the business, struck at the right time, and took the risk.

Mark Zuckerberg

In his heyday, Mark Zuckerberg held the reigns as the youngest self-made billionaire, having started Facebook at 19 and hitting that 10-digit number at only 23 years of age. He again was timeous with his technology.

The internet was young, and people wanted to connect with each other. So, he provided them with the tech necessary to revolutionize their social interaction. But Facebook has gone on to be so much more than this today. The initial success factor behind this billion-dollar business was its versatility and uniqueness at the time.

Ed Craven

Ed Craven is another young billionaire entrepreneur. He did not start the industry he is in but revolutionized it with a new and innovative way of thinking. The now 27-year-old co-owner of Stake.com, the world’s most successful crypto casino, is the youngest billionaire in Australia. With so many other online casino operations out there, what stood his model out from the rest?

Well, the Stake strategy is a lot different from other platforms out there. Harnessing modern technology like live streaming was the most significant turning point for Stake.

Of course, involving ambassadors like Drake to punt your brand doesn’t hurt either. So, when you combine Drake and streaming together, you have a winning recipe.

There are numerous names that we could attribute to the youngest billionaires list. Here is a token few:

  • Stanley Tang (31): Co-founder of DoorDash
  • Austin Russell (28): Founded Luminar Technologies
  • Brian Breslow (29): Founded Bolt
  • Henrique Dubugras (27) Co-founded Brex
  • Pedro Franceschi (26) Co-founded Brex

Get Out of The Box and Run With It! 

Thinking out of the box has helped all the young billionaires mentioned above reach the top. But it’s not about who comes out with the concepts first. It’s about who has the guts and the know-how to implement them first. As a result, the world of tech is yet to produce many more young billionaires, an exciting prospect for those who enjoy watching technology grow.


Michael launched Wealth of Geeks to make personal finance fun. He has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, and save for retirement. Michael is passionate about personal finance, side hustles, and all things geeky.


Source link

#MIT #DropOut #Alexandr #Wang #Worlds #Youngest #SelfMade #Billionaire #Wealth #Geeks

10 Best Dating Websites To Let Technology Play Matchmaker | Wealth of Geeks

Post By Money Making , ,

There were 44.2 million users of online dating services in the United States in 2020. And estimates show that the number of users in the segments surveyed will increase to 53.3 million by 2025.

Still going strong since 1995, the online dating industry shows no signs of slowing down.

The love of your life could be sitting just a few fiber optic cables away from you. Set-ups may be a thing of the past as swiping to find your soul mate takes over.

So what motivates people to try online dating? Sure, social restrictions due to the pandemic have made it much more challenging to meet people. However, online dating was popular even before current events.

It is not fear of becoming a cat lady or skepticism of chance encounters driving people to find love online. Instead, it is the trust in the algorithms of the best dating websites to find the right match that is the driving force.

A study by Stanford University in 2017 reported that 39 percent of heterosexual couples met online compared to 22 percent in 2009, confirming that people are perfectly pleased with having technology play matchmaker over family and friends.

Finding The Best Dating Websites and Apps

It is tough to gauge the best dating websites when over 1500 websites and apps are on the market. Many reviews are online, but many of those reviews are sponsored, so the writers receive compensation for endorsing the dating site.

So we compiled a list of the best dating websites, in no particular order, based on reviews by websites that we felt were unbiased and were not labeled as sponsored.

1. Zoosk

Zoosk, available both online and as a mobile app, has over 35 million members worldwide and boasts its dating platform across 80 countries. The site also translates into 25 different languages.

Zoosk allows you to create a profile and take a look at other users in your area for free. However, it would help to become a paid member to connect and converse with someone.

Zoosk employs a photo verification tool to help prevent catfishing by putting up fake photos. The program prompts users to record videos of themselves from multiple angles. Zoosk then compares the video to the picture and decides whether to approve it or not.

Another technology the company uses is Behavioral Matchmaking. This technology pairs users based on their actual real-time on-site behavior and preferences. For example, if you say no to a few people because they are smokers, the site will stop matching you with a smoker again.

These advanced technologies have helped propel Zoosk to a significant user base worldwide.

2. Match.com

Launched in 1995, Match.com is a pioneer in the online dating industry. In the first quarter of 2021, Match.com had approximately 11 million subscribers.

Once you complete your profile, Match.com compares likes and dislikes and assigns matches based on a percentage of having similar goals and priorities. Then, like the Zoosk algorithm, every time a user skips or accepts a profile, this data is analyzed and further refined to find better matches.

One of the unique features of this dating site is that you can create and attend Match Events. In addition, it allows paid users to participate in events near their location to meet and socialize with other subscribers from the area.

Match.com is one of the most established services, and if you cannot find a match in the first six months of subscribing, you can request a refund.

3. Eharmony

Eharmony is another original member of the online dating industry and has 29 million members in just the U.S.

Eharmony offers free memberships, allowing users to create a profile, complete the compatibility quiz and receive matches. Users can view their matches but must pay a monthly fee to communicate with them.

Eharmony also takes the results of the compatibility quiz and, with further analysis, creates a report called the Personality Profile. This report summarizes all the information and provides insights, helpful tips, and advice to help subscribers find a suitable partner.

Matches are regularly updated as new subscribers join the service.

4. Elite Singles

With over 2 million active monthly users, this dating website claims to have a subscriber base of mostly educated professionals. Although some may be skeptical, the cost of their premium memberships is high enough that only successful people looking for a serious relationship are likely to subscribe.

Like many other dating sites, Elite Singles requires users to complete a personality test. However, Elite Singles boasts their test is based on the psychological theory of personality and evaluates users across five domains: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Its intelligent profiling system can send users 3-7 compatible matches per day. You can also receive helpful advice and expert tips about relationships from their Elite Singles magazine.

5. Christian Mingle

This faith-based dating site has over 2 million monthly users and has grown to over 10 million members since it started in 2001.

Other than typical questions asked in profiles, such as age and location, this site also asks for information such as lifestyle habits and branches of Christianity practiced to help refine matches.

A unique feature of this site is that you can respond to messages if a paid member sends you one during your free trial period. Generally, being able to communicate requires a paid upgrade.

6. Silver Singles

This dating website caters to single men and women aged 50 and older and has over 800,000 monthly users worldwide.

Like other dating sites, once you complete the personality test and set up a profile, the algorithm helps determine and send daily matches based on personality traits and search criteria. Silver Singles also uses the same 5 Factor, a science-backed personality test as Elite Singles.

Free membership is available but quite limited as it does not allow users to view photos unless they have a paid membership.

Image Credit: Shutterstock

7. Plenty of Fish

Plenty of Fish is one of the largest online dating companies, available in 11 different languages and more than 20 other countries.

With 4 million daily users, Plenty of Fish is powered by IBM so that customers can navigate through the site at high speed and have a great user experience.

One of the unique features of this site is that it made lemonade out of social distancing and created a live-streaming feature, encouraging members to date from a distance. In addition, live stream members can also play a dating game similar to speed dating.

Plenty of Fish has a large user base, so there are more opportunities to find a match but expect more competition.

8. Tinder

Tinder is another powerhouse dating site that has 60 million monthly active users. Tinder started as an app but has a web version as well. On mobile, a user would swipe right to like a profile. A user drags a prospective match’s card to the right or the left for the desktop version instead.

Since users are to judge a profile immediately by its image, choosing to swipe to show interest, Tinder is known first to match couples based on physical appearance. In addition, swiping is anonymous, so users will not be informed that there isn’t mutual interest.

To create an account on Tinder, you also need to have a Facebook account.

9. Bumble

Bumble has over 100 million users worldwide and mimics the swipe left or swipe right format Tinder is famous for. However, with Bumble, women have more control in that a man cannot message a woman unless she likes the profile first. Allowing women to express interest first may also save them from receiving many unsolicited messages.

Another positive feature of Bumble is the identity verification system. Bumble requires you to take a photo within the app to match your facial features to your pictures which helps prevent catfishing.

In case you have met your match, Bumble also has a unique feature in that it allows you to search for friends and business connections.

10. OkCupid

OkCupid had approximately 50 million users in 2020. To begin the matchmaking journey, users of this site fill out a series of questions. The answers to these questions help contribute to matching percentages with prospective matches.

You can elect to skip or answer any questions you choose, but you must reply to at least 15. According to OK Cupid, the average user answers at least 50 questions.

The questions act as a filtering system, so the more you answer, the better your matches will be.

OkCupid gives the option of the Tinder or Bumble format by swiping right or left, or you can browse matches by scrolling through different profiles.

This site requires a mutual-like swipe to the right before two people can talk to each other.

There is no shortage of dating websites to try to find love. The best part is that many sites allow you to sign up and check out profiles before committing to a monthly subscription.

So go ahead, log on, and let technology set you up on your next date.

This article was produced and syndicated by Wealth of Geeks.

 


Nadia is an M.B.A. graduate and freelance writer. She also likes to write about all aspects of mom life, co-authors the blog This Mom Is On Fire, and advocates for better dementia healthcare for seniors.


Source link

#Dating #Websites #Technology #Play #Matchmaker #Wealth #Geeks

Worst Girlfriend Ever? She Let Her Friends Mock Her Boyfriend’s IQ | Wealth of Geeks

Post By Money Making ,

Friends are an integral part of life that affects one’s behavior and mindset. The saying, “show me your friend, and I will tell you who you are,” shows just how deep this influence runs. Most times, there’s also the constant need for validation from them, no matter what or who is at stake.

Here, OP’s boyfriend suffers the brunt of it, while OP wants to know if she’s wrong for letting her friends make jokes about his intelligence.

Birds of Same Feather

It was the first time OP introduced her boyfriend to her friends who came to visit. First impressions matter the most, they say. So, you would expect that OP would bring his best foot forward. Far from it. Now, there are her friends. 

She met them while she was studying. They all share similar academic backgrounds and now work in similar fields. She admits they may come across as pretentious when together, which stems from a feeling of insecurity and a history of being socially awkward. 

Insecurity rears its head in many forms. It may show up in some really ugly ways. For instance, making people feel awful only to make yourself feel better. 

With OP and her friends, they hide behind walls of intellectual superiority to disguise this, but OP states that she doesn’t believe she’s better than anyone else. But no one ever truly sees their own shortcomings, do they? 

Unlike her pretentious set of friends, her boyfriend is more…reserved. Picture Joe Goldberg and Beck Guinevere of You. Only in this case, her boyfriend isn’t as perceptive as Joe to see her friends behind the facade. OP also says he’s like no one she’s ever dated. “He’s kind, sweet, funny, not to mention being exceptionally good-looking,” she says. Again, sweet, sweet Joe. There’s where he differs from the movie character, though.

“He isn’t the most intellectual person in the world,” she says.

She doesn’t believe he’s stupid, but she acknowledges there are plenty of things he is not good at. He has a manual job and has difficulty reading and writing as he’s not well educated. She also mentions that he can barely spell and is ignorant about many things considered “general knowledge.” This was why she was initially scared of introducing him to her friends.

Gentle reminder: you should always be proud to show off your partner. You could really hurt their feelings when you make them feel you aren’t proud of who they are and can plant thoughts like you’re dating them out of pity. 

OP does decide to introduce him to her friends. 

Meeting Her Friends

“At first, it was going well,” she wrote. But then, her friends asked about his career and education, and a little awkwardness crept in. He also didn’t seem to understand most of the conversation. 

There’s where she should have pumped the brakes when they started asking questions about things that didn’t concern them.

“I admit I did make a few little jokes at his expense to break the tension,” OP says.

She probably forgot that there are questions whose sole purpose is to “break the ice.” An example would be, “What’s your all-time favorite TV show?” 

She mentions that it’s normal for him to be at the receiving end of jokes. He never seemed to mind and was taking it well, even with her friends. However, her friends joined in on the jokes, and it started feeling mean. 

If she, his partner, who should boast about him, was making jokes instead, they probably thought it was okay to do the same.

Although he tried to hide it, OP saw that he was getting flustered, especially when he started stuttering. But that didn’t stop them.

He also couldn’t understand the rules of the games they were playing, rules he could have understood if he had been less tense. 

OP said she didn’t ask her friends to stop because she did not want to create an “uncomfortable atmosphere” and didn’t want the evening to end. In my opinion, she prioritized her friends over him when she did this.

Throughout the evening, her boyfriend acted “friendly,” so she thought it wasn’t that bad.

“However, he made excuses not to stay over after they’d left, and he’s seemed more distant since, so I’m concerned it really hurt his feelings,” she shares.

Deal Breaker

Redditors are not pleased with OP on this one, understandably so. They all share the same opinion — she messed up.

“YTA. Now your friends think your boyfriend is fair game because you started teasing him, and you didn’t stop them when they piled on. Way to go. If I were your boyfriend, that situation would be a complete deal breaker,” u/Charming_Surprise_19 says.

“YTA. Your boyfriend probably has more emotional intelligence than you and your friends,” someone adds. However savage that may sound, it’s probably true.

u/FluffyOmen85 calls it another example of being book smart but very everyday stupid:

“My thought exactly. Another example of book smart but everyday stupid. You can have all the PhDs and Master’s degrees on your resume, but it won’t change the fact you have absolutely 0 social skills or tact. I hope you end up single after the dust settles, maybe it’ll humble your ego around your ‘friends.’ YTA.”

One can easily get carried away when they’re with friends, losing sight of everything else. OP wanted to introduce her boyfriend to her friends, but it’s possible she was more interested in pleasing them.

What are your thoughts on this? Do you, like me, think there were more creative ways for her to break the ice than making jokes about him?

Read the full story here.

This article was produced and syndicated by Wealth of Geeks.


Boloere Seibidor, fondly called B.S. is a Nigerian-based writer and poet. Her favorite topics to cover include music, especially Hip-Hop, film, lifestyle, and fashion. She’s been published by Feral Journal, Fantasy Magazine, The Temz Review, and most notably, Wealth of Geeks. She enjoys romantic dinners, movie nights, and touring new sites. When she’s not writing, she’s delving back in time to the underground world of Hip-Hop, watching TikTok, or visiting the cinema.


Source link

#Worst #Girlfriend #Friends #Mock #Boyfriends #Wealth #Geeks

Generation Z(ero): How To Improve The Financial Responsibility of Gen Zers | Wealth of Geeks

Post By Money Making ,

Generation Z is made up of 68.6 million people, otherwise known as zoomers, who make up about 20% of the US population, according to data from Statista. As they start to reach adulthood, many of them have yet to develop mature money habits.

This generation has grown up in an era of rapid technological advancement and instant gratification, leading to a tendency towards impulsive spending and poor money management. Many Gen Zers prioritize experiences over savings and face financial challenges as a result.

Interestingly though, Gen Z is aware of their financial immaturity. In a recent study, 66% of Gen Z respondents acknowledged their own generation as the most irresponsible with money.

Business Insider writes that depression among Gen Z is skyrocketing, suggesting a major cause is a decline in social interaction. Gen Zers are stuck in their technology and on their social media accounts rather than participating in real human interaction. Of course, the Covid-19 pandemic only accelerated these effects. That all translates into increased spending in an effort to cope with loneliness and depression.

Thankfully, not all hope is lost. The eldest members of Gen Z are only 25 years old. There is plenty of time to get their financial future back on track.

Here are some tips to improve financial responsibility and take Generation Zero to Generation Hero!

Why Save Money?

Saving money is crucial for securing a stable financial future. It allows individuals to build an emergency fund, plan for big expenses, and invest in their future. By setting aside money each month, Gen Zers can establish a solid financial foundation and avoid falling into debt.

In addition, saving money can help Gen Zers achieve their long-term financial goals, such as starting a business, buying a home, getting married, starting a family, or saving for retirement. By setting aside money regularly, they can take control of their financial future and achieve their aspirations.

Saving money is a habit that can have a positive impact on overall well-being. By taking control of their finances, Gen Zers can reduce financial stress and increase their overall sense of security and stability. This will pay dividends for their mental health as well.

Practical Tips to Improve Financial Responsibility

Financial intelligence is just that – intelligence. It takes time to learn how to control your money habits. Here are some easy things to take into account in an effort to improve your financial footing, whether you’re Generation Z or older.

Create A Budget

Creating a budget is the first step toward taking control of your finances. It helps you understand where your money is going and make informed decisions about where to allocate your resources. A budget can be created using a simple spreadsheet, app, or paper and pencil.

List all your monthly income, including salary, side hustles, and any other sources of revenue. Next, list all your monthly expenses, including necessities such as rent, utilities, groceries, and discretionary expenses such as dining out and entertainment.

Once you have a complete picture of your income and expenses, you can then determine areas to focus on making cutbacks so you can allocate more money towards savings or paying down debt.

Track Your Spending

Tracking your spending is a crucial practice for understanding your finances. By keeping track of your daily, weekly, and monthly expenses, you create a clear picture of where your money is going so you can make informed decisions about your spending habits.

Several tools are available to help you track your spending, including many apps and spreadsheets available for download. Choose the method that works best for you and stick with it.

When tracking your spending, make sure to include all expenses, no matter how small. This includes daily coffee purchases, impulse buys, and subscription services. You can categorize your expenses into different buckets, such as food, transportation, entertainment, and housing, to segment and evaluate your spending habits.

This information can help you identify areas where you are overspending and make adjustments to your budget. Tracking your spending can help you monitor your progress toward financial goals, such as paying down debt or saving for a major purchase.

Regularly reviewing your spending can help you make informed decisions about your finances and work towards a healthier financial future.

Pay Off Debt

Paying off debt is a critical step in achieving financial stability and freedom. High-interest debt, such as credit card balances, should be a priority as the interest can quickly add up and make it difficult to get ahead.

One popular strategy for paying off debt is to focus on paying off the smallest balance first while making minimum payments on the other debts. Once the smallest balance is paid off, take on the next one and so on, building momentum and freeing up more money to put toward your debts. This is known as the snowball method.

Another strategy is dubbed the avalanche method, which is to pay down debt with the highest interest rate regardless of the balance. This method saves you more money in the long run as it reduces the amount of interest you pay over time.

Regardless of the method you choose, make sure to pay at least the minimum payment on all your debts to avoid late fees and additional interest. It’s also important to avoid taking on new debt while paying off existing debts and doesn’t use credit cards for unnecessary purchases.

Live Below Your Means

Living below your means is a key principle of personal finance that involves spending less money than you earn. It requires discipline and the ability to resist the temptation to keep up with the latest trends and lifestyle inflation. Living below your means lets you save money, build up your emergency fund, and work towards your financial goals.

Plan for Large Expenses

Planning for large expenses is an important aspect of personal finance. Large expenses can include items such as a home purchase, paying for a wedding, or having a child. By planning for these expenses in advance, you can avoid relying on credit cards or loans to cover the cost.

Start by setting a savings goal and creating a timeline for when you want to have the funds available. Then determine how much you need to save each month to reach your goal. Consider setting up a separate savings account for this purpose and make automatic contributions to it each month.

You can also adjust your budget and cut back on discretionary expenses to free up more money to put toward your goal. It’s important to be realistic about your expenses and to take into account any unexpected costs that may arise. By planning and saving for large expenses, you can avoid the stress and financial burden of debt and work towards a secure financial future.

Invest With Intelligence

Investing with intelligence requires a combination of knowledge, strategy, and discipline. It involves understanding the market, different investment options, and your own financial goals. To invest with intelligence, start by educating yourself on the basics of investing and familiarizing yourself with different types of investments, such as stocks, bonds, and real estate.

Another key aspect of investing with intelligence is to develop a well-thought-out investment strategy. This can involve diversifying your portfolio, regularly monitoring and adjusting your investments, and avoiding emotional decision-making. Investing with intelligence and discipline can maximize your returns and achieve your financial goals over time.

This article was produced by The Budget Savvy Bride and syndicated by Wealth of Geeks.


Michael founded Pursuit of Passive Income to help its readers achieve financial freedom and create a life they love. He is living proof that every failure is just one step closer to success, having started and shuttered many failed businesses. Michael now makes a full-time income from Pursuit of Passive Income and strives to help others create passive income streams. Read more about Michael’s Story Here!


Source link

#Generation #Improve #Financial #Responsibility #Gen #Zers #Wealth #Geeks