Jacob Gottlieb Has Financial Tips To Benefit Every Millennial

A large number of financial forecasts made over the last decade suggest that the outlook for millennial’s is bleak. While there is evidence that millennial’s may face some financial obstacles specific to their generation, it is also true that sound money-making decisions can defeat these obstacles.

Jacob Gottlieb is a financial advisor that serves as the chief investment officer and a managing partner at Visium Asset Management. Gottlieb received a bachelor’s degree in economics from Brown University where he graduated Magna cum laude. He completed his education with a medical degree from the medical school at New York University.

Jacob Gottlieb took a moment to outline a few financial planning tips for the benefit of millennials.

Buy An Affordable House

Gottlieb explains that the benefits of owning your own home will in most cases outweigh any of the potential negatives. The key ingredient to this formula is to not commit too much of your money to the property. A good rule of thumb is to never purchase a home that costs more than two and a half times your annual gross income.

Fifteen Percent Of Your Income Should Be Saved

Long-term financial health is best safeguarded by the creation of a budget that is carefully followed. The millennial who commits 15 percent of their income to savings will begin to watch their nest egg grow in a short while. It is suggested that savings equal enough money to pay all financial obligations for six months.

Eliminate Student Debt

A major concern for millennial’s is student loan debt. Student loan debt can not be eliminated with a bankruptcy filing. Also, the interest accrued on this debt is never-ending. The millennial that takes an aggressive approach to student loan debt repayment can potentially realize savings in the tens of thousands.

Begin Funding Retirement Early In Life

No one possesses a crystal ball that will allow them to know the end of their productive work life. Because of this, you should begin investing in an employee sponsored 401k plan as early in life as possible. A Roth IRA may be more suitable to the needs of some individuals based on the type of work performed, earnings that are expected, and anticipated age of retirement.

Pay Monthly Bills Early

The fees associated with late and missed bill payments can add up to a hefty sum. This money would be better spent on a variety of things or added to savings. Late payments will also negatively affect your credit score and add to interest payments when borrowing money.

Master Tax Deductions

The United States allows for much money to be saved on taxes by the individual that masters the process. The majority of Americans cost themselves money every income tax season by not maximizing deductions. It may be a good idea to employ the services of a tax consultant to lower federal and state income taxes be exploiting allowable deductions.

Utilize Passive Income Streams

Successful people often add to their incomes with investments that don’t require physical effort from them. Popular investments include rental properties and unimproved land. Other citizens have benefitted financially from purchasing intellectual property rights and later collecting royalties.

Continue Your Financial Education

Your personal balance sheet will improve continuously along with an improved knowledge of financial matters. Financial blogs, publications on economics, and information dispersed by experts like Jacob Gottlieb can support efforts to develop a strategy to accumulate wealth. The millennial that takes a moment to learn a little bit about financial matters each week will have a powerful knowledge base with which to work in only a few months.


Benefits You Should Negotiate with a New Job Offer

If you’ve recently interviewed for a new job, things went well, your references have been checked, and it’s clear they’re dying to hire you, before you sign on the dotted line, take the time to negotiate.

If you’re in high-demand, you’d be foolish not to ensure that you get the most out of your new position as you can, not only in terms of your salary but in additional benefits too.

Here are some important benefits you should try to negotiate with a new job offer, whatever it may be:

401(k) Match

Saving for your retirement years is important if you don’t want to be working forever or living like a pauper in what should be your golden years, which is why you really need to negotiate a better deal on your 401 (k) match. If they really want you, most companies will be willing to up their offer a little, and it will mean that you have much more financial security in the future.

Workers Comp

Workers comp isn’t exactly a benefit- it’s a kind of insurance that ensures you’ll get a payout if you’re injured at work. However, it’s always a good idea to ask about it before starting a new job in a career that’s traditionally more hazardous, like construction, because as any workers comp attorney can tell you, it is usually easier to get compensation through workers comp than it is with a traditional personal injury claim against an employer. The latter could cost you thousands with no guarantee of a win and leave you stuck with huge medical bills, unable to work and no money coming in!

Health Insurance

Medical costs are on the rise. In fact, they have risen by more than 83 percent since 2005! This means that should you, or a family member gets sick, you could be looking at bills in the tens, even hundreds of thousands of dollars. That’s why it’s a good idea for you to work out how good the medical insurance they’re offering is and whether you’re out-of-pocket expenses will be bigger if you change jobs.

Wellness Programs

Wellness programs don’t often figure high in a list of reasons to embark on a new career or nor, but they are a benefit that is very much underrated and which you should try to negotiate with your new employer. Seeing if they will throw an annual gym membership in exchange for you paying a smaller medical insurance premium could help you to have more money in your pocket at the end of the year and keep you healthy, so it is well worth considering.

Professional Development

You might also want to think about negotiating ongoing professional development before signing on that dotted line. The more opportunities you have to learn, grow and build your knowledge, the easier it will be for you to advance in your career and make more money in the future, so although it might not seem like a vital benefit now, it is likely to pay off in spades in the future.

Being brave enough to negotiate is the only way to get the best deal for you. Good luck!

The Making Money From Vacation Rentals Manifesto

If you are looking to set up a second stream of income by renting out a vacation home, then you have come to the right place. As by following our guide below you can get to grips with the key issues and ensure that your property rental is both easy and profitable. Keep reading to see how.


Pick a great vacation location

The first and rather obvious thing about making money from a vacation rental is that you have to pick a location that people will actually want to visit. This can be somewhere geared up for summer vacations by the coast, or somewhere with winter breaks more in mind. Like a property located in the mountain or by a lake.

Also, city properties as a good bet, as there will always be a steady stream people visiting urban areas that will need accommodation. In fact, the latter can work best if you are looking for all year round income, especially by using sites like Airbnb to find clients. Whereas the former is usually a more seasonal affair.


Pick a fantastic local area  

Once you have your general vacation location, you need to narrow down the search for your property. Just like when you’re buying a place for yourself when buying a rental property, location matters, and local location matters a lot.


Think of it this way: you are going on vacation for a week, and you have the choice between two similarly priced places. One is just a regular apartment, and the other is a charming wooden cottage in a row of quaint homes. Which will one you pick? Afterall, for many folks, their vacation is an opportunity to have a week of luxury, and so they will want to stay in the nicest neighborhood possible.


Pick somewhere that has easy access to facilities

Facilities are also important when picking a vacation rental property. That is why it’s good news if the place you buy is close to things that your tenants will want like swimming pools, a public beach, a mariner, or some good restaurants.

Even better, if you can find a property like these Solimar Apartments on a development where some facilities are included, you are set. As then your tenants have the convenience of being able to use these things without having to travel, or pay extra.


Always get a deposit  

Lastly, when aiming to make money from vacation property remember that it’s essential to take a deposit before you allow the customers to inhabit the premises. Why? Well, it’s because you don’t actually know every single person that will rent your property, and unfortunately, not all people that do will be as careful with it as you are.

Also don’t forget that accidents do happen, even for the nicest and best behaved of families. So cover your investment by asking for a deposit first. As then you don’t have to waste loads of time and effort trying to reclaim money for damages if something does happen to occur.