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Stat Of The Day
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$367.79
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That’s the average price of a round-trip flight in the United States. Where you’re jet-setting to and from, of course, makes a difference. For example, of the 100 busiest airports in the U.S., you’ll pay the most if you’re departing from Ted Stevens Anchorage International Airport in Alaska ($516.95). The cheapest round-trip flights can be had by those departing out of Orlando Sanford International ($126.48), as USA Today reports. For details on how you can save on your next plane ticket, scroll on.
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Hack Your Way To A Better LinkedIn Profile And Your Next Job
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There are more than 14 million jobs listed on LinkedIn. An estimated 97% of HR and staffing professionals say they use LinkedIn to recruit new talent. And, last but not least, users with LinkedIn accounts that include a well-rounded, comprehensive profile have a 71% higher chance of scoring a job interview.
Long story short, if you’re on the hunt for a job, having a LinkedIn account is a no-brainer. But how can you make sure you’re using the platform to your best advantage? Enter Hala Taha, a top LinkedIn influencer and host of the Young and Profiting podcast. She says curating a LinkedIn account that gets you noticed is so much more than uploading your resume and having a nice headshot.
So, where should you start? According to Taha, who joined Jean Chatzky on the HerMoney Podcast*, there are a couple of things you should update right away, beginning with changing your LinkedIn badge to "Open to Work." Then, make sure your "About" section is up-to-date to give those viewing your profile a good snapshot of you and your accomplishments. Don’t forget to include a professional headshot, too.
These small details are just the tip of the iceberg, says Taha. For her top 3 tips for using your LinkedIn account effectively and snagging your next big opportunity sooner, click here. Good luck!
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| The HerMoney Podcast is made possible by Edelman Financial Engines.
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This Week In Your Wallet
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You can find me in the club…but only if you have the right credit card. As competition for future cardholders becomes more intense, credit card companies are revamping the perks they offer, focusing on experiences, rather than points and miles, as The Wall Street Journal reports. Recent offerings include Amex’s Centurion New York, the first permanent credit card lounge outside of an airport or event venue, and Chase Sapphire Reserve Lounges, which were recently set up at Lollapalooza and on the Seine River (yes, we said "on"...it was a floating lounge) during the Paris Olympics. The perks aren’t free though. To use them, in most cases, you’ll need a higher-tiered credit card, which can come with hefty annual fees in the hundreds or thousands of dollars. "We wake up every day to think about how we can persuade a group of consumers to agree to take a platinum card and pay us a $695 annual fee,"
said Howard Grosfield, Amex’s president of U.S. consumer services.
As the old saying goes, there’s no free lunch. But there is free rent for some these days, as landlords struggle to fill vacancies. "The share of rental listings on Zillow offering a concession as an incentive to rent climbed to 33.2% in July," reports Matt Egan for CNN. "That’s flat from June, but up from 25.4% a year earlier and well above the recent low of 19.4% two years ago." Some of the more common sweeteners include weeks of free rent and no-cost parking. According to Zillow, perks for renters are most frequently available in Raleigh (53.3%), Charlotte (53%), Atlanta (52.2%), Salt Lake City (50.9%), Nashville (50.8%) and Austin (50.5%). Thanks to falling mortgage rates, renters are expected to have the upper hand for the foreseeable future. "By being proactive, informed and realizing their leverage, renters can make the most of the perks landlords are offering," says Orphe Divounguy, an
economist at Zillow.
Housing incentives, banning "corporate price gouging" on groceries and tax cuts to benefit the middle class. Those are just a few of the highlights of Vice President and Democratic presidential nominee Kamala Harris’ economic plan, which she says she will tackle during her first 100 days in office if elected, as The Hill reports. Among the specifics catching our eyes were the proposal for a $6,000 tax cut for families with a newborn and a plan to offer first-time homebuyers $25,000 in down-payment assistance. How does Harris’ economic agenda stack up against her opponent, former President Donald Trump? Here’s how.
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Things That Save You Money
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Set a reminder. Friday is "National Cheap Flight Day," which kicks off a small window of time when airfare prices dip before climbing back up for the holiday travel season. "This period is the ideal time to book your getaway before rates begin to increase and ultimately peak around the busy Thanksgiving holiday in late November," reports TravelPulse. In other words, if you’re planning on traveling in the near future, now is the time to book!
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Want to avoid the middle seat on your next United flight? You can likely get a better seat, for free, reports USA Today. To do so, visit the area of the United app where you can note your seat preference. If it’s available when you fly, you’ll get reassigned automatically. According to United, the airline is able to accommodate 40% of passengers who request a different seat.
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Forget the weekends. "Fly mid-week! It’s not a new trick, but it is a consistent cost-saver," suggests HerMoney reader Sandra.
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Ask Jean
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Today’s question comes from Stephanie. She writes: When it comes to saving for retirement, are annuities a good idea to have along with my 401(k)?
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When we think about our financial fears, one tops the list: Running out of money before we run out of time. According to GoBankingRates, 66% of Americans fear that they will run out of money during retirement, and that fear is not unwarranted. Half of all US households are at risk of not having enough income to maintain their standard of living in retirement, according to the Center for Retirement Research at Boston College.
It’s a scary concept to think about, but here’s the good news. For some people, annuities can be a great tool to eliminate some of the worry over having enough money to last throughout your lifetime. For those who aren’t familiar, an annuity is essentially "a financial contract between you and an insurance company," says Minji Ro, Chief Strategy Officer at Gainbridge. "They’re primarily retirement-focused, they give you a steady stream of income during retirement, and they are the only product that pays a guaranteed stream of income for life, even if you
eat into the entirety of your investment."
Here’s how they work: You give the insurance company a lump sum of money or a stream of payments over time, and, in return, the insurance company promises to pay you a certain amount of money on a regular basis. The payments that you receive can last for a defined number of years or for the rest of your life. They can also be based not just on your own lifespan, but your spouse’s, as well.
For many people, annuities are used in conjunction with other retirement savings plans, like your 401(k). For women, they are particularly appealing for a number of reasons. Because we earn less than men throughout our lifetimes, stash less away in our retirement accounts, and then go on to outlive our partners and spouses by a good half-decade, annuities can provide a bit of a safety net. For example, Gainbridge created ParityFlex™, a multi-year guaranteed annuity, for women.¹
This is just the tip of the iceberg when it comes to annuities. For more on the various types (yes, there are different types!), how and where to buy them, click here.**
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Submit your questions to Jean here.
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We maintain a strict editorial policy and a judgment-free zone for our community. We strive to remain transparent in everything we do. Website posts and newsletters may contain advertisements, links and mentions of products from our partners. Learn more about how we make money.
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*The HerMoney podcast is proudly sponsored by Edelman Financial Engines. Unlock your wealth potential with our sophisticated wealth planning. Continue your journey at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines – Modern wealth planning. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM3625086.
HerMoney is not a client, agent, representative or affiliate of EFE.Edelman Financial Engines ("EFE") is a sponsor of the "HerMoney with Jean Chatzky Podcast," created by HerMoney Media. Inc. ("HerMoney") and provides cash compensation to HerMoney Media. HerMoney receives a sponsorship fee from Edelman Financial Engines depending on the number of podcast downloads, as measured by the end of the calendar year. The sponsorship fee is paid on a quarterly basis each year. In turn, HerMoney also provides promotional deliverables regarding EFE on the HerMoney podcast, newsletter, and social media channels. Due to this sponsorship arrangement, HerMoney has an incentive to endorse EFE and its services.
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**This is a sponsored post
¹ Withdrawals are taxed as ordinary income and, if taken prior to age 59 1/2, there may be a 10% federal tax penalty. Withdrawals may result in a surrender charge or a market value adjustment (MVA) and excess withdrawals may result in a reduction of future payments under the guaranteed lifetime withdrawal benefit. Guaranteed Lifetime Withdrawal Benefit provided so long as your account value hasn’t gone to $0 due to excess withdrawals. Annual Percentage Yield (APY) rates are subject to change at any time, and the rate mentioned may no longer be current. Please visit Gainbridge.io for current rates, full product disclosures and disclaimer. ParityFlexTM, a multi-year guaranteed annuity, is issued by Gainbridge Life Insurance Company in Zionsville, Indiana.
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