If you want to break free and manage to cover a long-time wanted lifestyle, you must find a way to create a passive income. Besides financial freedom, passive income will serve as a cushion in emergency life situations such as health issues, car reparations, job loss, etc. Within the following lines, we will cover the best practices to create passive income sources in times of economic uncertainty.

Creating passive income starts with savings

The first step toward passive income is creating a financial nut. The saving we are relating to here is after-tax savings. If you don’t have a healthy amount of money, things will get very challenging and exhausting.

Know what you are good at

The more your interests and passions match the way you earn passive income, the higher chance you have to build something sustainable and consistent. Everyone excels in some particular skill, be it writing, sales, investing, and so forth. Find your niche and start monetizing it.

If investing is something appealing to you, you might consider a trading career. Now it’s a field available to ordinary people and not only to an initiated circle of financial experts. Just look at the booming interest in Forex trade in recent years. However, finding a reputable Forex broker should be one of your top priorities if you wish to try your hand in online trading.

Create a financial plan and consistently follow it

As we already mentioned, savings are important for the realization of your passive income plans. And to save enough money, one has to put in place an efficient financial plan.

If you already have a decent lifestyle and sufficient income to cover all your small pleasures, you might be prone to lifestyle inflation. Consequently, it reflects on your ability to put some money aside every month. Get rid of the need for a wealthy lifestyle appearance just to compete with the Joneses.

Furthermore, you need to allocate a specific amount for basic expenses every month, another amount for investments, and finally allocate sufficient funds for your project that will generate you a passive income.

At first, it will hurt the lifestyle you get used to. But eventually, when you start gaining momentum regarding your savings, you will stop perceiving the saving process as a significant sacrifice.

The importance of multiple passive income sources

When you begin to build your passive income scheme, you will rely on your regular income funds. Once you start to bear fruits, it’s time to develop your system and multiply the resources. It’s a multilevel game plan.

When you encounter setbacks on one side, you will have you hedged on the other side, thanks to various types of investments. It’s a crucial concept in investment not to put all the eggs in one basket. However, putting all the efforts into making all of your passive incomes sustainable money flow should be your ultimate goal.

Find out your optimum income level

Look back at all your career levels, from the minimum wage as a junior employee to the current professional and financial status, and spot how your happiness changes over the years. It will give you a clear picture of where the balance you need to aim to. Everyone has different needs and expectations, so are you. It’s up to you to find the right balance between needs, opportunities, and real abilities.

Stop biting from your financial nut every now and then

This is the fatal mistake many tend to make when creating the source of passive income. Somehow, there is always some emergency making us take off the funds allocated for investment, and it prevents you from properly benefitting from the compounding strategy.

An efficient passive income strategy is making sure your savings are wisely invested and not sitting on your accounts or, even worse, are vanished by the occasional unnecessary expenses.

 

Every country has a financial sector that drives its economy. So no matter where you are in the world right now, expect to have a job demand in this sector even twenty years down the road.

You can gauge its importance from the fact that the Australian financial and insurance services employ approximately 3.8% of the total workforce in Australia.

The field of finance has a range of highly rewarding career options. These include banks, insurance companies, credit unions, credit card companies, brokerage firms, investment firms, etc.

This industry is perfect for those who want to explore different options and can keep up with a fast-paced work environment. As an energetic and ambitious worker, you are likely to thrive in this industry.

However, if you are a student and considering a career in finance as a potential option, let us tell you why it would be a great move for your future.

1. Diverse Roles

One of the best things about a career in finance is that you have various roles that you can choose from. Whether it is accounting, real estate, or insurance, the job opportunities are varied, so people with multiple interests and skillsets can benefit from it.

Additionally, you can find a role in this sector that suits your personality, be it closing deals in front of clients, or working hard behind the scenes. Despite the common misbelief, you don’t have to be great at numbers to succeed with a finance career, owing to these diverse roles.

Some of the jobs that you can find in this sector are:

· Audit director

· Asset manager

· chief risk officer (CRO)

· Financial controller

· Head of operations

· Internal auditor

· IT auditor

· Corporate finance manager

· Chief financial officer

2. Enhanced Interpersonal Skills

Customer satisfaction is a huge part of the financial sector, making the acquisition of good interpersonal skills vital for success. As a financial industry worker, you must provide a positive experience to your customers, whether you face clients or work behind the scenes.

In any case, you need to have impressive interpersonal skills to communicate with your clients effectively.

3. Dynamic Field

The field of finance is highly dynamic and has been quick to adapt to the industry’s technological advancements. This, coupled with a focus on client expectations, gives countless opportunities to all those interested in a career in finance. With this shift, it is an excellent time to start a career in finance.

Workers in this field are forward thinkers who quickly adapt to change with technical skills.

4. Job Opportunities

Have you heard of any country that doesn’t have a financial sector? We’re sure, no, because every government in the world does. The global financial industry is becoming more integrated with the help of technology that makes working overseas a lot easier than before.

Think about it. You can work for companies across the world and have excellent networking opportunities. There are also possibilities of working remotely with big corporations overseas without leaving your country.

5. International Placement

While there are opportunities to work remotely for an overseas company, if you work for a firm’s finance department, you can get transferred to other countries as well.

With ACA, CFA, certificate iv financial services online or other finance qualifications, you can be sent to other countries. Your company will pay for your relocation and save you the significant hassle by setting you up there.

Such opportunities provide you with experience of carrying out business in complex markets and working in culturally diverse environments. It also gives a stellar impression on your CV with the new skillset.

6. Long-Term Growth

When it comes to the financial sector, you can always expect personal and professional growth. The financial industry drives the world economies, making a career in it highly relevant at any time. As long as you work hard and leave a good impression, you will likely be noticed by your organisation.

Clients’ contacts are essential at any given time so make sure you focus on that as you go along. This industry has no ceiling making it the optimal choice for highly ambitious workers.

7. Good Salary

The need for qualified finance professionals rises alongside the proliferation of technological innovations in the finance sector. This results in high salary packages right from the beginner level all the way to the senior positions.

If you are a graduate, you will have a competitive salary, and if you stay in your firm for a while, it will only get better. An impressive base salary coupled with generous bonuses makes a career in this field highly rewarding.

You’ll also learn how to manage your finances better since that’s what you do professionally as well.

8. Educational Opportunities

Learning never stops, no matter your industry. Employers in the financial sector are generous with career advancement opportunities and pay for online financial courses for exemplary employees.

It is also likely for the employers to fund their employees’ masters or doctorate degrees, provided it contributes to their professional worth. This is a mutual and beneficial agreement for both parties.

9. Challenging Work

If you are someone who loves to push their boundaries, then a career in finance is a good option. The finance industry is fast-paced, and as a candidate, you have to keep up with it. Most employees in this industry face these challenges daily and enjoy them.

It may sound easy, but the individuals in this field need brains, relevant education, and hard workers to succeed. This is an intellectually stimulating line of work that helps you reach the top in the long run.

The majority of finance jobs require problem-solving skills, including catering to small and large companies’ complex problems. As a quick problem solver, you will definitely enjoy this career!

10.Good Foundation

A career in finance provides the perfect skills and opportunities to shift to other industries. A 2019 Robert Half survey shows that one out of every five of the Top 100 CEOs of the FTSE (Financial Times Stock Index) Companies were accountants.

Finance-based jobs give you an excellent foundation to help you advance in a company. You learn the skills to understand financial statements and what impacts businesses’ revenue of costs. People with a non-finance background don’t have the same capabilities and find it hard to carry out these tasks.

You can also learn to interpret data, analyse consequences, and avoid mistakes expertly. This helps you progress to senior roles within your company.

11.Potential For A Startup

With practical knowledge of how to handle a company’s costs and revenues, you can easily start your own business. Proper cash flow management and financial planning are necessary for success, and you already have those skills aplenty.

As an employee in a finance firm, you have a substantial advantage over your competitors. So if you want to start your business at some point, a career in finance is a good place to begin with.

12.High-Caliber

Of course, most people working in a field understand what it takes to succeed. But, generally, those with finance backgrounds perform really well at their job.

In addition to problem-solving skills, you will also learn to be self-motivated, detail-oriented, collaborative, analytical, organised, and deadline-oriented.

In Conclusion

If you search Google right now, you will find many high position employees who started their careers in the finance industry. Every world economy needs a sound financial sector and offers a wide range of job opportunities to fit any person.

The finance sector will always have a job demand and provide countless opportunities to expand your career and enhance your skills. Even though this sector often has a hectic work life, employees’ hard work is consistently recognised and compensated.

If you are a quick thinker with problem-solving skills and love a good challenge, then you should consider a career in finance.

To strengthen your position in the finance field, you should take up courses like cert 4 in financial services from MCI to understand how it works.

Burial insurance, or final expense insurance, is like a boon for senior citizens because it takes away much pressure to worry about funeral costs. Everyone has a right to depart to the afterlife with utmost dignity. Still, senior citizens often worry about burial costs that their beneficiaries will have to bear once they are gone.

Burial insurance gives them the chance to make arrangements for their funeral, just the way they want. If you are worried about similar issues, here are some reasons as to why you should get the best final expense insurance for yourself.

• Easy to Obtain

Compared to other kinds of insurance policies, burial insurance is easy to qualify for. For life insurance, you often have to go through many medical tests and examinations. Many senior citizens do not want to go through that ordeal anymore. A time comes in their lives when they want to be at peace with themselves.

With burial insurance, no significant health queries are made by the insurance provider. Even if they do ask questions about their medical history, it is only for the records. There are hardly any hurdles that a senior citizen has to go through to qualify for this insurance.

• Lower Premiums

Since most senior people buy burial insurance very late in their lives, the premium rates are not as high as other life insurance schemes. Most burial insurance providers know that seniors pay for the premiums mostly through the money from their retirement. They try to keep the premiums as economical as possible and the clauses uncomplicated. The premiums are almost always locked, so there is no worry about the premiums increasing after the quarter. In some cases, you might also get a cash value in return if there is no death in the tenure for which you purchased the insurance. This feature varies from provider to provider, but it is something to be explored.

• Assistance from Insurance Providers

Unlike regular insurance, burial insurance providers are much more mindful of senior citizens’ needs, mostly due to their advanced years. The process is made hassle-free and transparent for seniors to help them find a suitable policy.

There is minimal paperwork, and there is always a representative by their sides to guide them through acquiring the insurance. They also help the beneficiaries to get access to the fund after the death of the insured person. You know for sure your beneficiaries will get a payout, and they won’t have to worry about your funeral finances once you are gone.

• Freedom to Choose

With burial insurance, a senior citizen gets the freedom to choose what kind of funeral they want for themselves. Funerals can be expensive. The price of the casket, flower decorations, costs of the funeral home, renting a venue for the memorial, transportation to the burial ground, costs of the funeral home, paying for the funeral lunch or dinner, and some other related expenses can together add to a lot of money.

You might not be comfortable leaving your beneficiaries to handle all those expenses. However, if you can pay for all of that yourself, there is no reason to compromise on what you want. The burial insurance benefit will cover the costs of the expenses, and all your beneficiary has to do is carry out your instructions. You can take care of your final expenses yourself, even when you are alive.

If you like to plan everything meticulously while you are alive, you will also plan for your final passage after your death. With a burial insurance or the best final expense insurance, you will have full control over your funeral preparations without worrying about the costs.

 

John Crestani is a well-renowned internet entrepreneur and while you probably may not know him so well, his story is a very intriguing one. Some years ago, John was nothing like the man he is now. He had just lost his job and he was certainly lost.

From this state of despair, John Crestani managed to turn his situation around dramatically.He considered Craig Mullins Consulting for some best business suggestion.

John Crestani now has a mature affiliate marketing network that makes so much money without restricting him to a regular 9 to 5 working time.

After his massive success, John Crestani decided to write a book to share his experience with other people. The book is called “Work at Home Secrets” and it is written to help more people attain financial freedom.

In light of this, we decided to conduct an interview with John Crestani to ascertain the impact of this book on financial freedom.

What was the rationale behind your decision to write a book on online marketing?

I was once in the corporate world and working a regular 9 to 5 job. However, after I left the corporate world, I wanted to break free of its shackles. So, I decided to try out affiliate marketing since it allowed for a flexible lifestyle without compromising my income. Thankfully, it all worked out and I was able to find my feet.

After discovering and personally benefiting from the hidden potentials of online marketing, I decided to make it my mission to share my knowledge with people as effectively as possible. This book is simply my way of doing that.

Tell us about your book “Work at Home Secrets”

“Work at Home Secrets” is a book written for regular people with normal jobs who want to attain financial freedom outside of the corporate world. It is written in a plain and simple style so that anybody can understand and make use of it.

You do not need to have any sort of prior experience in online marketing to make good use of this book, all you need is the drive to implement the lessons contained in it.

What can people expect to find in the book?

”Work at Home Secrets” essentially contains a path to financial freedom. It is a book meant to change people’s lives.

It draws from my experience as an affiliate marketer to guide people on the best and fastest ways to make money online. It also draws their attention to some of the mistakes they should avoid.

Your book borders majorly on affiliate marketing, can you describe how affiliate marketing can lead to financial freedom?

Yes indeed, the book is really about helping people achieve financial freedom through affiliate marketing. From my experience, I can tell you categorically that affiliate marketing is a viable way of making money.

Just within my first few years of engaging in affiliate marketing, I already started making over $100,000.

Over the years, that figure has increased to about a million dollars. In addition to this, I get to travel around the world without being restricted to an office or strict working hours.

Therefore, there is no doubt that most people can attain financial freedom through affiliate marketing. The purpose of this book is simply to guide people on the most effective strategies to use.

How has the book been received so far?

The book has actually been well received so far. I have received positive feedback from several people from different backgrounds who picked up this book, applied the lessons and achieved results in a really short time.

 

Financial advisors help manage money by creating innovative strategies and helping us meet our individual financial goals. They provide an array of services, investment management, budget guidance, and estate planning. Whenever you choose a financial advisor, you’ll have to clearly mention your financial goals and the current financial situation.

On the other side, when you pick up the right advisor, you don’t have to end up paying for the service that you don’t actually require. Likewise, working with a financial expert who is not up to the mark for your financial goals won’t steer the result that you expect.

Different Types of Financial Advisors

Financial advisor San Francisco offers a range of service providers, including bot-advisors to local and traditional financial advisors. However, all these advisors have a single aim, i.e., to help manage your money.

Bot Advisors

Bot advisors are also known as Robot advisors. These actually offer digital services with simplified and cost-efficient investment management services. These are computer algorithms meant to counter goals and risk tolerance of your wealth.

They are low-cost and allow you to start investing in a very small amount. They are good when investing in goals like retirement plans.

Online Financial Advisors

Online financial advisors offer virtual access to human advisors. When going with the basic service, you may avail of plans similar to Bot Advisors. However, you get the ability to consult and coordinate with a team of financial experts on the other side of the screen.

While you need comprehensive advisory on financial management, you can avail yourself of dedicated financial advisors San Francisco who can excellently manage your overall investment and develop a holistic approach to your financial plans.

• These financial services are typically low cost
• Some may require high investment while others can be done with no minimum requirement
• If you need an expert advisor at a minimal cost, an online financial advisor is the best thing.

Traditional Financial Advisor

Traditional financial advisors San Francisco includes certified financial planners, registered investment advisors, financial consultants, and wealth managers. In most cases, a single person may have more than one of the titles mentioned earlier. You can meet your advisor and seek detailed reports when availing of their service.

Choosing the Service

Above were lists of financial advisors that you can avail of. Depending on the specification, you can choose the one that you think is reliable. Meanwhile, for those who are just starting, you can always go with the Bot advisors, who often have low or no account minimums.

Meanwhile, if you have a complicated financial structure and require a comprehensive approach such as insurance planning, estate planning, investment management, it’s best to seek an experienced human, financial advisor.

Scrutinizing the Background

The market is filled with financial management companies that offer exceptional service. Moreover, you can always check the portfolio of the professional that you hire so that you’re satisfied with the service. Meanwhile, any recruitment company will clarify in detail the track-record when hiring a financial expert.

Factoring is a financial concept where a company buys another company’s invoice or debt at interest. Factoring has taken center stage in many businesses in Ontario, Canada. Numerous companies have taken up the idea in order to finance and sustain their businesses. Company discounts their invoices or account receivables for the buyers to purchase and make profits once they settle the debt or pay off the invoice. Factoring in Ontario has managed to relieve debts and finance companies to continue selling their services and goods as the factor chases the invoice payment. When engaging in invoice factoring, it is vital to understand the costs and challenges associated with the process. These are discussed below.

Factoring Invoices Costs

The factoring of invoices comes with costs, which are depended on various factors. First, the costs of factoring invoices depend on the rate of factoring. The rate of factoring often lies between 0.5% and 5% of the total invoice every month. It is usually determined by the number of clients one has, the quality of the clients, the type and nature of the business, the business’s financial condition, and the creditworthiness of the invoice payers, among many others—also, the more invoices the company factors, the lesser the rates of factoring. The costs of factoring also depend on the length of service. A shorter-term of service will attract cheaper rates and fees because these rates are charged per month. Companies seeking to factor their invoices need to ensure their debtors pay up the invoices in the agreed deadline, or else they will end up paying more charges to the factor. Finally, factoring invoices may also attract additional fees that are outlined in the agreement. Most times, companies fail to pay attention to the contract or agreement and overlook the additional charges, which may come as a huge surprise to them.

Challenges Involving Invoice Factoring

While invoice factoring can be beneficial to many companies, there are distinct challenges bound to arise before, during, and after the process. First, when a company engages in invoice factoring, it gives up a portion of its profits. Yes, they receive cash in a harry to run the business, but it comes at the expense of their profits. Secondly, when one partakes in invoice factoring, their clients will know about it because of introducing a third party. This may send a picture that the company is struggling, leading to the loss of vital clients. Finally, clients that pay a company that has factored its invoice slowly may cost the company additional fees. Invoice factoring is, therefore, not a cozy ride as it may seem.

Therefore, before a company settles for invoice factoring in Ontario, they must investigate and understand the challenges and costs that come with it. Assessing these factors will help many companies make the right decision on whether to take or reject offers made from these factors. Invoice factoring is as challenging as it is essential.

 

Whether you’re an established firm or a startup a sales tax audit will be done at some point in the company’s lifeline. The question is when and not if the auditor will come knocking at your door. Being audited can be scary even for the most prolific organizations. Therefore, it is crucial to have these tips to help you successfully manage the process regardless of the Sales Tax Audit Firm that will come to you.

1. Understand your business

Whether yours is a small-sized or medium-sized business, it’s imperative to know the sales tax rules vis-a-vis your products and services. Without this information, you might think a particular product does not attract a tax only to realize it does. Or what you think is an exemption, may be taxable depending on the jurisdiction applied.

On the other hand, you may provide a taxable service along with a tax-exemption product but the regulations demand otherwise when the two are offered independently.

The crucial information here is, understand what you’re selling and the tax obligation requirement that applies to your state.

1. Get the required documents in place

You can take control of auditing by getting all the requested documents in order. It is also important to anticipate other supplementary documents that may initially not have been requested. In case books of account are stored off-site warehouse, arrangements should be made to have all the records accessible.

The auditor is likely to ask for the following in their notification sales tax audit letter: journal entries, bank statements, sales, and purchase invoices, detailed general ledger, sales, and purchase journals, depreciation schedules, financial statements, resale and exemption certificates, state tax returns, and shipping documentation.

3. Check for potential Issues with the records

Once these documents are made accessible, you need to study them to ensure they’re incomplete. Any gap needs to be patched with the required information. Tracking and accessing these documents can take some time, so it’s imperative to begin the process immediately after you’re notified of the impending audit.

In case there are issues, you can engage the auditor after their arrival to determine the audit procedure. Some of the issues you’re likely to find in the books of account are:

• Missing records
• Changing in account systems
• Change in tax maintenance systems
• Other electronic records such as purchasing cards

You want to avoid any inconveniences on your part should the auditor need these documents in their random sampling procedure. For instance, the auditor may need to trace a taxable transaction and may need to see the accompanying paid tax documents

In case, there’s an issue of missing documentation records, you may need to engage with the auditor and come up with a suitable alternative. The auditor’s electronic records trail may fail, thus, raising the need to track the taxpayers’ procedure on payment and collection of the respective taxes on these types of documents.

Be informed that electronic transactions attract additional scrutiny because there are no paper documents to support them. It is imperative to have excellent internal controls in matters of electronic records. For the taxpayer’s acceptance by the taxing authority, the following functions should be examined;

• Security access codes
• Access authorization
• Regular log reviews
• System access logs
• Data access logs
• Preservation of data integrity

1. Review basic records before the audit begins

It is imperative to scrutinize all the records, identify potential loopholes and major exposure areas. Additionally, make necessary arrangements to obtain any incomplete or missing resale. Remember to attach documentation for tax-free sales such as direct pay or exemption certificates.

Ensure that the exemption certificate is legally accepted in your state. In case there are errors, reach out to the party involved, and get the appropriate record before auditing begins. Failure to do so may attract unwarranted penalties and interests for uncollected tax.

1. Review and respond to audit reviews timely

No business entity ever wants to be sampled for auditing, but when your organization is picked, you want to have the best outcome of the procedure. If you run an online tax account, always update your business details such as name, email, and phone address.

This allows you to receive audit notices and reviews promptly. Additionally, insist on having a hard copy to accompany the online accounts. Read, review, and respond to the auditor’s report accordingly.

1. Set an agreeable time to begin the audit

Immediately you receive audit notification, access your situation, and decide if there’s ample preparation time. You can request an extension to allow you time to finish preparations.  The best practice is to put your request in writing, even when requesting a time extension.

 

Construction defects can affect property taxes as they lower the market value of a building. Market value is one of the main factors considered when determining how to tax property. If construction defects have lowered the building’s value, the owners may pay less in property taxes.

What Are Construction Defects?

Construction defects are generally defined as defects in the design, workmanship, systems, or materials used to create a project that eventually result in damage to a person or property. Some common construction defects include a damaged roof, timber rot, or faulty electrical wiring.

Construction defects can be a massive headache for property owners because of the costly repairs they entail and the risk of physical harm. Fixing construction defects may also involve litigation against the construction workers, a process that comes with its own hurdles and headaches.

How Construction Defects Relate to Property Taxes

Property taxes have throughout history been applied to two areas of property: real property and personal property. Real property includes buildings and land, while personal property includes movable items like cars, boats, and bonds.

Real property tax is calculated by multiplying the value of the land and buildings by the tax rate. Where construction defects come into play is with the value of the building. Often the first step in determining property tax is to decide the market value of the building or the amount for which the building would sell. If construction defects have caused the building’s value to decrease, the property tax will generally decrease as well.

Appealing A Property Tax Assessment

Once the county tax assessor has determined the amount to tax a property, the assessor’s office will send the building owner an assessment letter that outlines how the property’s value was decided upon. The owner is responsible for reading the letter and then determining for himself or herself if the assessment reflects the actual value of the property.

If a homeowner believes his or her property is taxed too high based on an assessment that missed, ignored, or misunderstood the facts—for instance, if construction defects were not taken into account—he or she can immediately begin a property tax appeal.

A person has fewer than 30 days to file an appeal. The appeal process usually entails a lot of research on the part of the owner, who will need to evaluate how high his or her tax rates are compared to other, similar buildings in the area. In cases where the appeal is based on construction defects, the homeowner will need an estimate for the defect’s costs.

Once the building owner is satisfied with the research, he or she can contact the local assessor’s office to request a review. Some assessors will discuss assessments with informal conversations, while others require the owner to fill out forms.

If the property owner is not satisfied with the review, he or she can appeal the decision. Since there are strict deadlines to adhere to and procedures to follow, many people hire a property tax attorney to help them with the appeals process.

San Diego is known for its world-class beaches, popular attractions, and vibrant food scene. But you may not know that San Diego is also known in the investing world as a new hot spot for real estate investing, and savvy investors are starting to take note of the budding market.

Sawyer Winston, a San Diego based entrepreneur and real estate investor in his own right, is weighing in on the San Diego real estate game. I called up Winston to hear why he thinks San Diego is so popular among real estate investors, how the market is doing now, and where he thinks it’s going.

Sawyer, tell us a bit about how you got to where you are today.

I’ve always liked to take chances, and to create new things. From the time I was 17, I was working in some pretty big organizations in San Diego, and handling much more responsibility than some other peers my age.

I was flying around California for some of my jobs, and when I was in college, I created some of my biggest businesses. At this point, I’ve bought or managed around ten different businesses, spanning on several different countries.

What fields do you have experience in?

Some of my bigger projects have involved technical systems and coding, but I’m involved in a lot of entrepreneurial projects and different kinds of businesses. I also have experience in real estate.

I’m currently launching a pretty big project which I’m excited about, which is basically mixing my love for entrepreneurship with real estate. I’m focusing on one community, and my goal is to revitalize its economy using real estate investments.

Once this community reaches its goals, I plan to expand the project to more places.

What is the state of the San Diego real estate market?

San Diego has been popular for a while, of course, and we know that’s nothing new. But many people may not realize exactly how much of a hot spot San Diego is becoming, or exactly how competitive.

Since the pandemic began, San Diego home prices have been skyrocketing, and inventory has been very low. This definitely makes it more difficult if you’re looking to buy, especially on a budget.

What do investors need to know about San Diego?

Investing in San Diego can definitely be profitable, because there is such a demand for housing. The prices of homes have risen a lot, and all facts point to continued pricing increases. There is also something else to be aware of: the California rent control law.

This law went into effect just last year, limiting the amount you can increase rent, and includes a “just cause” for evictions.” So, it’s important to research the local laws and upcoming changes if you want to get into the San Diego market.

What are your predictions for San Diego as an investment location?

I think that the interest in San Diego isn’t going to slow down any time soon. And while housing stock is low and prices are rising, mortgages rates are also quite low at the moment.

This is definitely an appealing fact for investors looking to get some skin in the game with financing. But I think it’s important to note that San Diego is really a special place, with a thriving economy, and that it will definitely benefit most from investors who care about the community itself.

 

In most personal injury cases, a settlement won’t impact Social Security Disability (SSDI) benefits. However, in some cases, SSDI may impact a settlement amount and lead the defense to argue that an injury was a pre-existing condition. To determine how a settlement may impact Social Security benefits and vice versa, it’s important to understand the dynamics of each.

How Personal Injury Cases Can Affect Different Types of Social Security Benefits

Individuals who sustained injuries because of another party’s negligence may be able to recover compensation in a personal injury claim or lawsuit. In any case, injury victims may pursue compensation for monetary damages such as medical bills, lost wages, and property damage. Victims may also be able to recover compensation for non-monetary damages such as pain and suffering.

Personal injury cases can lead to a settlement that’s awarded to the claimant. However, matters can become complicated if the claimant is receiving Social Security benefits.

SSI vs. SSDI

If an individual is wondering how a personal injury case and settlement may affect his or her Social Security benefits, the answer ultimately depends on the types of benefits involved. Some people may receive Social Security Disability (SSDI) benefits, while others receive Supplemental Security Income (SSI) benefits.

Typically, personal injury awards won’t impact SSDI benefits, but there are certain exceptions. On the other hand, individuals on SSI may see a decrease or even cessation of benefits, depending on the case.

Why Is SSDI Normally Unaffected?

Regardless of the settlement amount in a personal injury case, individuals shouldn’t see any impact on benefits if they receive SSDI. The reason for this is that SSDI benefits are determined based on a recipient’s work history as opposed to present financial status, unlike SSI.

Individuals enrolled in the SSDI program become eligible based on the number of work credits collected while employed. Work credits have no role in a personal injury case.

When SSDI May Affect a Personal Injury Case

Although a personal injury settlement won’t affect SSDI benefits, there are some cases when SSDI may impact the settlement.

When the Defendant May Argue That an Injury Was a Pre-Existing Condition

Whenever an individual is injured and files a claim, the defendant may try to argue that an injury was related to a pre-existing condition as opposed to the accident that resulted in the case. If an injury is found to be the result of a pre-existing condition, it could lead to a lower settlement amount.

Compensation for Lost Wages May Not Be Awarded Due to a Disability

If people are receiving SSD benefits at the time of an injury, this is indicative of a person suffering from a condition that prevents him or her from working. As such, individuals who weren’t working when or after an accident took place wouldn’t receive compensation for any lost wages, which may otherwise result from time taken off from work to recover.

If an SSDI recipient wishes to file a personal injury claim following an accident, he or she can do so without worrying about any reduction or elimination of those benefits.