Bitcoin Futures Trading Isn't Blowing Up — Yet

Bitcoin had a banner 2017, trading at up to around $20,000 per unit. So, hopes were high for its debut on the futures market in December. How is this cryptocurrency faring in the real world of financial regulation?

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Gametime Is Hiring Work-From-Home Reps at Up to $15/Hr in 14 States

This is a universal narrative, in my opinion.

You’re headed out to a concert, sporting event or festival. You’re scrambling to get ready and are about to run out the door.

Wait, the tickets!

You open your laptop. Dead. Once it charges up, click “print.” Printer out of ink. Paper jams.

OK, maybe this is worst case scenario, but I swear it always happens to me.

That’s why Brad Griffith created Gametime, a nifty mobile tool that keeps all of that buying, selling and printing mess behind a screen. The tool has launched in 35 cities — in fact, I used it to scope out tickets for the 2017 College Football National Championship — and it continues to grow.

Which means the company’s hiring! Gametime needs full-time, work-from-home fan happiness associates.

The company needs associates in Alabama, Alaska, Arizona, Colorado, Hawaii, Michigan, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Tennessee, Utah and Washington. (If you hate the state restrictions, understand them better by reading this.)

What Does a Gametime Fan Happiness Associate Do?

You’ll help Gametime customers by answering any phone calls, emails or texts with questions relating to the app. You might discuss new orders, returns or the event’s logistics.

You also might need to make a call or two — but only to follow up on customer questions.

Are You Qualified to Work for Gametime?

The Gametime team needs someone who loves sports and music events.

“It’s ok if you aren’t a big sports buff but you gotta know how the experience works,” the listing states.

You should have some experience in customer support, with solid communication skills and “ninja-like” internet abilities.

You also should be self-motivated and flexible — “the flexibility of a professional athlete… well when it comes to your availability to work that is…”

A college degree is also required, as is a familiarity with Windows and Zendesk (or other ticketing systems).

What Should You Expect When Working with Gametime?

You’ll work from home. However, Gametime won’t leave you all alone. You’ll have weekly meetings with your manager to ask any questions and go over your performance.

You’ll work eight-hour shifts — plus a lunch break — so about 40 hours a week. You’ll work weekends and holidays, too.

You’ll also have one week of paid training from 9 a.m. to 5 p.m. (PST) Monday through Friday, beginning March 1.

Oh, yeah — and the pay. It’s $15 an hour.

You’ll also be eligible for benefits. The listing doesn’t go into detail about what those perks are, but it does include a code to redeem a $10 credit in the app.

Interested in joining the team and reaping some sweet benefits? Apply online.

And if you want to find more work-from-home jobs, visit The Penny Hoarder Jobs page on Facebook.

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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What Do Beer and Bridal Dresses Have in Common? Retail Job Seekers Need to Know

So you’ve probably heard about the big, scary retail apocalypse right?

Major companies are closing stores, robots are coming for our jobs and we’re all flailing around like inflatable tube men at a used car dealership.

All right, I should probably calm down. And you should too, since there were some brick-and-mortar stores that actually added jobs last year, according to the U.S. Bureau of Labor Statistics data from 2017.

Unfortunately, to do a deep dive into the specific types of retailers doing the hiring, we could only look at the latest available numbers from November. But comparing that month to the same month in 2016 will give you a good idea of where the jobs are shaking out in the wild world of retail.

Some of the top stores in terms of job growth, like home centers and furniture warehouses, likely track with the housing market, which has been on fire since its collapse a decade ago.

Others, like pet stores, might follow the booming economy as a whole. (Have you considered adding a fur baby to your family this year? Come on, you can afford it.)

Of course, if you’re not into shirt-folding or cash-register-jockeying, The Penny Hoarder Jobs page on Facebook always has interesting work-from-home opportunities.

But when it comes to retail, these 10 types of stores were hiring in 2017 — and you should keep an eye on each one in 2018.

These Were the Best Retail Stores for Job Growth in 2017

While it’s true the overall brick-and-mortar retail industry lost 63,600 jobs between November 2016 and the same month last year, it doesn’t mean every type of store was a loser. In fact, there were plenty of winners.

We only looked at common, traditional brick-and-mortar businesses. So while used car dealerships saw a 4.1% jump in jobs, they aren’t your classic storefront style of retail.

Here are 10 types of traditional retail stores that actually added jobs last year:

1. Bridal, Lingerie and Swimwear Stores

Change in Jobs: 8.1%

Overall Jobs Added: 9,500

2. Gas Stations and Truck Stops

Change in Jobs: 7.7%

Overall Jobs Added: 8,200

3. Cosmetic and Beauty Stores

Change in Jobs: 5.5%

Overall Jobs Added: 7,800

4. Trophy and Art Collection Dealers (and Other Miscellaneous Stores)

Change in Jobs: 4.7%

Overall Jobs Added: 9,000

5. Pet Stores and Craft Supplies

Change in Jobs: 3.6%

Overall Jobs Added: 11,500

6. Hobby, Toy and Game Stores

Change in Jobs: 3%

Overall Jobs Added: 11,500

7. Home Centers

Change in Jobs: 2.4%

Overall Jobs Added: 16,900

8. Meat and Seafood Markets

Change in Jobs: 2.4%

Overall Jobs Added: 1,600

9. Liquor Stores

Change in Jobs: 2.4%

Overall Jobs Added: 3,700

10. Furniture Stores

Change in Jobs: 2.4%

Overall Jobs Added: 5,400

Jobs are well and good, but what about that all-important paycheck? Say no more, fam.

The 5 Highest Paying Brick-and-Mortar Retail Jobs in 2017

If you’re looking for a high-paying job in retail (which is sometimes hard to come by) consider checking out one of these types of stores this year.

We looked at the latest available hourly wage data to find the five types of retail stores that paid the most in November (again, the latest numbers available).

1. Jewelry and Luggage Stores

Hourly Pay: $23.28

2. Men’s Clothing Stores

Hourly Pay: $23.13

3. Carpet and Flooring Retailers

Hourly Pay: $22.62

4. Furniture Stores

Hourly Pay: $22.46

5. Supplement, Hearing Aid or Other Health Care Stores

Hourly Pay: $21.11

So there you have it. The retail apocalypse may be crippling the industry as a whole, but some brick-and-mortar stores are weathering the storm. For now.

Alex Mahadevan is a data journalist at The Penny Hoarder. He worked at a brick-and-mortar pet store for four years and was only bitten by a guinea pig twice.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Fundrise Review: How to Invest in Corporate Real Estate With a Small Investment

If you love real estate, property-themed reality shows can be both fun to watch and educational.

Watching as old, dreary houses get a brand new look on HGTV's Fixer Upper might even inspire you to redecorate your own place.

Meanwhile, shows like Million Dollar Listing may leave you wondering if you should add real estate to your own portfolio.

But, let’s face it; most of us will never add shiplap to half of our walls or buy income-producing property.

For the bulk of Americans, “flipping a home” one day or buying real estate as an investment are simple pipe dreams – either due to time constraints or even our own personal abilities.

Still, I have always thought that adding real estate to your portfolio can be a really smart idea – not only because real estate has proven itself as a solid investment choice, but also because diversity is absolutely crucial for each of us.

To truly get ahead in life – and to build a nest egg that can stand the test of time – we can’t put all of our eggs in one basket, right?

Introducing Fundrise

The good news is, you don’t have to buy actual property to invest in real estate. Thanks to new firms like Fundrise that work similarly to Lending Club and Prosper but focus specifically on real estate, you can invest in commercial property without dealing with the hands-on aspects of owning physical property. Check out other great ways to invest by reading our Motif Investing Review or our Lending Club Review.

Think about how much easier this could be. If you “flip houses,” you'll have a ton to worry about. You might have to come up with a huge cash payment just to buy a property to begin with, plus hire contractors, oversee construction and workers, then work tirelessly to make sure you sell the home for a profit.

As a residential or commercial landlord, on the other hand, you might have an entirely different set of tasks. For example, you would likely need to spend time finding tenants, planning repairs and maintenance, and collecting rent. And each time a tenant moved out, you would need to start the process over – taking the time to find a new tenant, work up a lease and financial agreement, then manage any issues that arise.

As someone who invests in Fundrise, however, you can take a completely hands-off approach to your investments.

After all, you're buying notes that list real estate as the underlying investment – not the real estate itself. For a lot of people, this the best (and only) way to invest in real-estate for the long haul. Because not everyone wants to rehab dirty houses or be a landlord, right?

Investing in Real Estate through Fundrise

If you’re looking for a hands-off approach to investing in real estate, Fundrise is a firm you might want to consider. Through their real estate investment products, investors earned an average of 12 – 14 percent on their money last year, and all without painting a wall or dealing with unruly tenants.

Here’s the part that I think is really smart. Thanks to the new technology that Fundrise offers, they are able to locate and capitalize on real estate investments that hit somewhat of a “sweet spot.”

According to Fundrise founders, large institutional real estate investments tend to be highly competitive, and that push for competition drives down returns over time. Yet, the small “fix and flip” assets you see on shows like Fixer Upper are typically riddled with problems and risk. Not only are these projects comparatively expensive to operate, but there are simply too many things that can go wrong.

As a result, Fundrise focuses its efforts on that “sweet spot” I was talking about – mid-size sub-institutional assets that have less competition and the potential for higher returns.

So, with Fundrise, your dollars won’t be invested in any real estate investment that comes along; instead, Fundrise focuses on investments that fit within certain parameters and offer superior potential for low risks and high returns.

According to the Fundrise team, their stringent vetting process means that only 1 percent of submitted projects get approved for funding.

Everything You Need to Know About Fundrise

Since I’m highlighting Fundrise and its products in this post, I wanted to include all of the nitty gritty details about how it works and who can invest.

Let’s get started, shall we?

First of all, the minimum investment required by Fundrise is just $500 for investors who invest in their Starter Portfolio, $1,000 in their eREIT products, and around $5,000 for those who invest in their other placements. This relatively low barrier for entry makes this type of investment a really good option for people who want to dip their toes into real estate without going full throttle at first.

As of now, any U.S. resident can invest in Fundrise provided they can meet the minimum investment amount and their investment does not exceed the greater of 10 percent of their gross annual income or net worth.

The Starter Portfolio really is one of the more intriguing offerings in the REIT space.  Not only does it only require a $500 investment to get started, but you will be invested across three different REITs; the East Coast, the Heartland, and West Coast eREITs.

In addition to individual placements, Fundrise offers both an Income eREIT and a Growth eREIT for beginners, both of which have similar goals but a slightly different set-up.

• The Fundrise Income eREIT was created to provide investors with a low-volatility income stream of “consistent, attractive cash distributions generated from commercial real estate investments.” The Income eREIT focuses mostly on debt as an investment and pays returns throughout its investment term, and that’s what sets it apart.
• The Fundrise Growth eREIT, on the other hand, focuses primarily on assuming equity ownership of commercial real estate assets. By focusing on equity instead of debt, the Growth eREIT has a greater potential to accrue more value over time. While a dividend is paid quarterly, most of the returns for this investment are paid out toward the end of the investment period.

For a limited time, Fundrise is accepting new investors for their Fundrise Growth eREIT product and a new feature that lets you recoup your investment within a 90-day introductory period. During this time, you can redeem your shares at no cost to you. After that, you can redeem up to 25 percent of your shares on a quarterly basis.

Also keep in mind that additional investments may be available to you if you are an accredited investor – a term coined by the Securities and Exchange Commission (SEC) to describe financially sophisticated investors who have high net worth and need little protection.

Benefits of Investing in Fundrise

While no type of investment is perfect, Fundrise does offer some benefits that help it stand out. The best features offered by Fundrise, in my opinion, are summed up below.

• Fundrise charges low fees for their services. On average, Fundrise charges investors 0.30 to 0.50 of their invested capital to manage their investments each year. If you're looking for an investment option with fees that won't eat away at your earnings too much, Fundrise might be it.
• You can potentially invest in Fundrise through an IRA. If you open a self-directed IRA, you can invest your funds into Fundrise notes.
• Fundrise lets you search through and filter offers to find the most interesting– and potentially profitable – deals. Just like Lending Club lets you sort notes based on risk level and earning potential, you can browse the Fundrise site for investments that meet your individual criteria. If you like to have some control over your investments, this is a huge deal.
• Fundrise accounts are free. Opening your account is absolutely free, and you won't be charged for browsing investments, either. If you want to dig around their website before you commit, you absolutely can. And actually, I would suggest doing that anyway before you get started.
• Fundrise income is as passive as it gets. While investing in real estate the old-fashioned way requires a lot of intensive planning and plenty of hands-on work, Fundrise requires nothing of the sort. Once you choose your investments, nearly everything else is taken care of for you.
• Most Fundrise investments offer rolling maturity dates. While not always the case, most of their investment options let you cash out part or all of your investment every few years. So while they are not liquid in a general sense, you will have access to your money periodically.
• Fundrise lets you invest from the comfort of your home on their 100 percent secure website. Opening an account and choosing your investments is easy. Plus, you can add funds via electronic check and even sign documents online.

Fundrise Disadvantages

No investment option is perfect, and Fundrise is no exception. While investing in Fundrise can offer high returns and truly passive income, there are some disadvantages to consider as well.

• Many Fundrise investments outside of their new REIT products are not available to unaccredited investors. To become an accredited investor, you must meet certain criteria decided by the SEC. One way to qualify as an accredited investor is earning an income of at least $200,000 per year or a joint spousal income of at least $300,000 per year for at least two years. Also, having a net worth of at least $1 million dollars will do, regardless of your income. There are other ways to meet the requirements to become an accredited investor, of course, but those are the two easiest.
• Fundrise investments are not liquid until they reach maturity. While Lending Club offers a secondary market where you can sell notes if you need to cash out, Fundrise does not offer this option yet. As a result, your investments are not liquid until they reach maturity. If you feel you might need to access your money at any time, this is a huge disadvantage.
• Fundrise offers limited investment options at this point. Even for accredited investors, investment options are somewhat limited. This will likely change as Fundrise grows their platform, but it's still worth noting that your choices are not plentiful yet.
• Fundrise is relatively new, so we don't have a lot of data to work with yet. While Fundrise investors earned an average of 13 percent on their investments in 2015, the company wasn't founded until 2012. It will be interesting to see what kind of earnings investors report in 2016, 2017, and beyond.

Final Thoughts

There is so much more to know about Fundrise, and if you want to dig a little deeper, I highly suggest you look over their website, and specifically their FAQs. If you have questions about Fundrise investments or almost anything else, you'll likely find the answers you're looking for there.

The best part about investing in Fundrise is the fact that it is a truly hands-off and passive investment – as in, you won’t have to get your hands dirty or do any of the heavy lifting.

Like any other investment, however, there are risks involved. Since investing in real estate in this fashion is a relatively new concept, make sure you know what you’re getting into before you put real money on the table.

The post Fundrise Review: How to Invest in Corporate Real Estate With a Small Investment appeared first on Good Financial Cents.

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Bitcoin Futures Trading Isn't Blowing Up — Yet

Bitcoin had a banner 2017, trading at up to around $20,000 per unit. So, hopes were high for its debut on the futures market in December. How is this cryptocurrency faring in the real world of financial regulation?

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Here’s When All You Non-Procrastinators Can Start Filing Your Tax Returns

For all the early birds out there itching to put the last of 2017 to bed, the IRS has announced it will start accepting tax filings as early as Monday, Jan. 29.

Some tax professionals may allow you to complete your taxes even sooner, but they won’t be able to submit your information to the IRS until that date.

The earliest online tax filers can expect to see their refunds beginning late February, the IRS said.

Those who file paper returns should expect to wait a bit longer. According to the IRS, paper returns won’t begin processing until mid-February. If you expect a return and want it sooner rather than later, file online.

If you are not as excited to deal with accountants and filing software or that box of receipts in the back of your closet, you can put it off a bit longer. The deadline to file this year is Tuesday, April 17.

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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PopSugar Is Hiring Parenting, Beauty, Fitness and Entertainment Writers

It’s not every day we find an interesting, flexible, part-time writing job that you can do from the comfort of your own home.

I mean, let’s be real — it’s not even every week.

So today must be someone’s lucky day (yours, perhaps?) because we’ve just found four different job openings that tick all of those boxes (and then some).

And with a pretty wide variety of subject matter between these positions, there might just be something here for everyone.

(But if there’s not something here for you, don’t worry! Just go ahead and like our Jobs page on Facebook. We post new and interesting work-from-home jobs there whenever we find them.)

These Four Freelance Writing Positions Are Open Now

POPSUGAR, a multi-platform content and media company, is looking for part-time, work-from-home writers who specialize in parenting, fitness, beauty and entertainment.

Pay: Unknown

Schedule: Part-time

Applicants for these positions should have:

• A flexible schedule
• The ability to produce witty, clickable content on a tight deadline
• The ability to turn around quick, clean copy
• A desire to write about trending topics

The company is particularly interested in people who have experience in the following areas, relevant to each position’s focus:

Parenting

• Parenting children with disabilities
• Single/divorced parenting
• Fertility struggles
• Adoption or fostering experience
• Fatherhood or “dad” content
• Teachers or pediatricians
• Homeschooling
• Food, home decor or relationships
• Other trending parenting topics

Fitness

• Personal fitness
• Weight loss/gain
• Body positivity
• Reviews of popular diets, workouts or weight loss programs
• CBD/cannabis content and recipes
• Doctors or health experts (including therapists, GPs, gynecologists, etc.)
• Original workouts or fitness challenges
• Healthy living tips for people with anxiety and depression

Beauty

• Product reviews
• Body-positive personal stories
• Men who are passionate about beauty
• Personal beauty experiments

Entertainment

• Netflix shows
• Theory posts
• Access to movie screeners

If any of these sound like you, head on over to the following pages on POPSUGAR’s site where you’ll answer a few questions and showcase your work.

To apply to become a parenting writer, go here.

To apply to become a fitness writer, go here.

To apply to become a beauty writer, go here.

To apply to become an entertainment writer, go here.

Grace Schweizer is a junior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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How to Deal When You Win a $559M Powerball but Aren’t Sure What to Do Next

Two people in the United States just got crazy rich. The $450 million Mega Millions jackpot went to one lucky winner on Friday. The very next day, one of our Florida neighbors won a $559 million Powerball jackpot.

We all dream of matching numbers on that lottery ticket or even a giant check showing up at our doors. We tell ourselves that a sudden windfall of $X would solve all our problems.

But would it?

If you try hard enough, you can probably think of someone you know who came into some sudden money and blew it all in just a year or two. I know I can.

It even happens to the big winners, like David Lee Edwards who won $27 million with a Powerball lottery ticket. Thanks to lavish living and drug use, he was broke and living in a storage unit by 2006.

Think about it: That’s $27 million in just five years.

Unfortunately, it’s an all too common tale. The sad fact is that many people end up in worse shape after receiving sudden money than they were previously in. They simply don’t know what to do with a windfall to make it a blessing and not a curse. Let’s look at some of the basics.

What Is a Windfall?

The traditional definition of a windfall refers to apples or other fruit that are blown off of trees when they are ripe. Easy pickings for the passerby.

However, the more modern definition of a windfall is an “unexpected, unearned gain or advantage.”

We’re talking about free money here, people.

Just where does this free money come from?

Of course, we think of things like the lottery first. Yeah, that most certainly counts as a windfall. But there are other sources of monetary windfalls that are far more common.

• Personal injury or other insurance settlements
• Gifts
• Inheritance
• Life insurance settlements
• Retirement lump sums
• Tax refunds

There is no set amount of money that’s defined as a windfall. For most of us, finding $5 in our jeans’ pocket as we do laundry probably wouldn’t count — though it may make our day!

An easy way to think about it is this: Could this new money seriously affect your life for a significant period of time? The answer won’t be the same for every person or family.

What to Do With a Windfall Under $10,000

Let’s be real. The most likely scenario in which you come into a windfall of extra money isn’t going to be a Powerball jackpot. It will be an unexpected tax return, a year-end bonus at work or possibly a small inheritance.

While this won’t make you rich, it can certainly help out your financial situation if you let it.

Sure, a $5,000 bonus could help you install a killer home theater system in your house, but is that really the best use for it?

Do you have emergency savings? If not, setting aside at least some of your windfall for that is a super-smart way to use the money. In a perfect world, you should have a large enough emergency fund to cover your basic bills and needs for three to six months.

Other smart moves for your new money could be paying off credit card debt, investing it in a home upgrade project or putting it toward your retirement.

If that seems too difficult, try being responsible with at least half of the money and having fun with the rest. We’re all human, right?

What to Do With a $10,000 to $99,999 Windfall

Nice! Maybe you scored big on a scratch-off lottery ticket or received a nice insurance settlement. A chunk of cash in the five-figure range can definitely be a boost.

But don’t quit your job. Even at the highest end of this scale, you’re not set for life. Not even close. Trust Allison Cintins, who squandered away a $66,000 inheritance in about four years and added $7,000 in credit card debt.

The first thing to remember is you don’t have to do anything right away.

Breathe. Don’t spend the money before you have it.

Susan Bradley, author of “Sudden Money: Managing a Financial Windfall,” calls this the “decision-free zone period.”
“The decision-free zone period should be used to find out what your choices are and to think about what you want to do with your money,” she wrote.

Now, make a plan. While this kind of money may seem like a fortune, it’s not. However, it can be life-changing in a smaller way. When financial guru Dave Ramsey was asked what a family should do with a $100,000 inheritance, he said, “Your first goal is to be debt-free except the house and have an emergency fund of three to six months of expenses.”

Just think about how much extra income you would have if you weren’t paying off a student loan, car loan and those old credit card bills. Start there, and then if you have any left over, think about investing.

You Got a $100,000 to $999,999 Windfall. Now What?

Congratulations! This is serious money.

Coming across a six-figure windfall can be a life changer. Again, you’re probably not set for life, so don’t storm into your boss’s office just yet.

In your mind, this may seem like a nearly endless amount of money. It isn’t.

However, it is enough money to possibly pay off your student loans, mortgage and credit card debt, or start a fantastic retirement fund. At this level, you shouldn’t go it alone. Finding the right financial planner to help you make some of these decisions is crucial.

“The right planner can minimize your chances of blowing the opportunity your money presents,” Bradley wrote.

Make sure to speak candidly with your financial planner about what you want out of life. Seriously, if a trip to Italy’s wine country is on your bucket list, you can make it happen with this windfall without destroying investment opportunities.

If you’re tired of driving a car from the 1990s and want an upgrade, go for it. Just be reasonable. You don’t suddenly need a top-of-the-line Mercedes-Benz or a Tesla.

Enjoy your new gains, but run it by your financial planner first.

Just because you want to make this money last and work for you doesn’t mean you can’t treat yourself a little.

How to Handle a Windfall of More Than $1 Million

Jackpot! Now this is a bottomless pit of glorious money!

Sorry. No again. Even multimillionaires can go broke in a hurry if they’re not careful. The internet is full of stories of people who received big paydays through work or luck and lost it all.

That’s the bad news. The good news is that this kind of a windfall should, at the very least, start to set you up for life — if you’re smart about it. There are success stories out there. A good financial planner and a lawyer can help you create a plan and understand your rights. Understanding your taxes and making smart investments could set you up for life.

Then, brace yourself: Family, friends and even complete strangers will want a piece of your newfound money. Every salesperson will to try to convince you that you need a yacht or multiple properties. This is where your team of financial pros comes in. If you want to help your family out or splurge on a few items, that’s fine.

“Do your fantasy spending on paper first,” Bradley wrote. “You may find that you really don’t want all the things on the list once the exuberance wears off.”

Are you seeing the pattern here? Patience. Don’t make rash decisions the moment you receive a windfall. Take your time. If you’re married, get on the same page as your spouse. You don’t want the blessing of new money to ruin a good thing.

If you really want to make your money last, consider living off interest alone. If you invest $1 million and can get a 4% return on it, you’re looking at $40,000 per year. OK, you won’t live large, but if you continue to work and add that interest to your salary, you’ll probably do pretty well.

Consider that $1 million your seed money. It can’t grow if you deplete the seed.

If you just won $559 million in the Powerball, you should be able to live very comfortably off a fraction of that interest.

With patience and a smart approach, your new windfall can make your life better, not worse. A rich Penny Hoarder just has more pennies to watch, and that’s OK.

This article contains general information and explains options you may have, but it is not intended to be investment advice or a personal recommendation. We can’t personalize articles for our readers, so your situation may vary from the one discussed here. Please seek a licensed professional for tax advice, legal advice, financial planning advice or investment advice.

Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Despite the challenges, he’d be willing to win a lotto jackpot. Catch him on Twitter at @Tyomoth.

 

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Pension companies – the firms leaving clients waiting for transfer forecasts

Providers are taking months to give financial advisers the forecasts they need to offer advice on pension planning and transfers. Moneywise investigates to find out who is at fault and what can be done.

The ability to use the new pension freedoms and transfer money out of final salary pension schemes has given many retirees more choice over their lifestyle in retirement. But some consumers face months of delays while they wait to get the necessary information to make decisions.

• Half of financial advisers are wrongly recommending pension transfers, regulator finds

Since April 2015, people reaching retirement age have been able to withdraw as much of their defined contribution pension savings as they want (75% of which is subject to marginal income tax). This pension freedom has shaken up the rule book when it comes to what retirees can do with their pension pots.

Independent financial advisers (IFAs) have reported a surge in the number of defined benefit (final salary) scheme members who are trading in their ‘gold-plated’ guaranteed income pensions for cash. People transfer for a mixture of reasons – they may be worried about the future of the scheme and like the idea of using the new pension freedoms, while transfer values to move from a defined benefit (final salary) pension to a defined contribution pension have risen dramatically.

Financial advisers say transfer values for those cashing in their defined benefit plans are typically between £250,000 and £500,000. This is because the yields on government bonds (gilts) – which final salary pensions invest in to underpin the guaranteed income that they provide – have fallen to record lows. Pension schemes, therefore, need to set aside more money today to meet their future promises, so employers will pay more to get people’s guaranteed pensions off their books.

Many people are prepared to ditch their guaranteed retirement incomes for large sums of pension cash that they can then drawdown. It is worth noting that if you want to transfer out of a defined benefit pension and your pot is worth more than £30,000, you must get an IFA to sign this off.

But this increased interest in transferring has had an impact on waiting times for consumers, and IFAs requesting information from pension schemes.

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What the IFAs say

The issue first came to Moneywise’s attention when liaising with IFAs on our Money Makeovers for readers. One IFA, Paul Davis of Clear Financial Advice in Billericay Essex, waited nearly 12 weeks between first requesting retirement forecasts or pension projections from one defined benefit pension provider on behalf of a reader and receiving it.

He says delays have “absolutely” escalated following pension freedom as “administrators for defined benefit schemes have never been geared up for this kind of increased workload”.

“This is made even more frustrating when you speak to them, as there is never a sense of urgency or empathy with the situation,” Mr Davis says.

Keith Hanna, a retirement planning manager at Lowes Financial Management in Newcastle, Tyne and Wear, says there was “a slowdown” with defined contribution providers after pension freedoms were introduced. But he says it’s the defined benefit scheme administrators that are struggling now. “Getting information can vary – it can take anywhere between three and eight weeks to get a Cash Equivalent Transfer Value (CETV), and then a further two to four weeks for getting further information if it hasn’t been provided,” he says.

• Jeff Prestridge: Why a retirement income calculator made me cry into my tomato soup

In one case, Mr Hanna was told it would take a minimum of 12 weeks for a CETV to be given.

Martin Dodd, a chartered financial planner at Midland Investment Agency in Wolverhampton, West Midlands, says: “In the defined benefit space, delays are a relatively new issue – the waiting time for information can be two months at least.”

On a more positive note, Jamie Smith-Thompson, managing director at advisory firm Portafina in Rochester, Kent, believes the larger defined benefit administrators are “generally getting back on track” following the pension freedoms.

However, he adds that across both defined benefit and defined contribution schemes, the slowest providers have been taking one to two weeks longer, on average, to provide information in 2017 than they did in 2016.

How information is provided is another sticking point – a lack of a standardised industry approach means schemes can choose how to present information.

Alex Shields, a chartered financial planner at John Lamb in London, says: “Some administrators are very quick and get back to you in a couple of weeks; others take months and often they send a standard pack, which doesn’t include all the information.

“As an example, we have had a case which has been going on since July where the administrator is taking four to six weeks to reply to every question we ask.

“This can affect the advice process as CETVs only last three months.”

And Mr Shields, isn’t alone. Lisa Vaughan, a chartered financial planner at Fogwill & Jones in Sheffield, Yorkshire, comments: “Providers often respond to requests within a reasonable timescale but not with the information requested, so you have to go back time and time again, which is what can cause issues.

“Defined benefit scheme administrators generally take longer to respond. However, in their defence, this is because the information is often more complex and calculations are often required.”

• Is your final salary pension at risk?

The rules on providing quotes

According to The Pensions Advisory Service (TPAS), pensions law stipulates that consumers are entitled to one CETV quote every 12 months, which schemes have three months to provide.

You’re allowed to request a benefit statement estimating retirement values once every 12 months, although here schemes have just two months to provide information.

These rules apply whether you’re contacting your scheme directly or via an IFA or financial planner.

If schemes miss these targets, TPAS says they should provide the requested information as soon as possible, and that these delays should be reported internally. It’s then up to managers of defined contribution schemes or actuaries, scheme auditors, legal advisers, fund managers or custodians of defined benefit schemes to decide whether the breach is worth reporting to The Pensions Regulator. Persistent breaches could potentially result in penalties.

What the pension schemes say

To get the other side of the story, Moneywise asked some of the UK’s major pension providers and administrators for their views. We’ve picked these firms at random – neither Moneywise nor the IFAs we spoke to for this piece are necessarily accusing them of causing delays.

Pension provider Royal London told us it’s not seen a significant increase in requests from customers or from IFAs of late.

In contrast, a spokesperson for pension provider Aviva says: “The pension freedoms have given savers much more choice and, as a result, our customers and advisers have more questions for us. While at times we’ve seen some pinch points, we have invested heavily in IT and people to support this growth, and we’ll continue to adapt to demand as necessary.”

On the administrator side, Benjamin Roe, a partner at Aon Hewitt, which looks after more than 200 pension schemes, agrees that information requests have gone up since the new pension freedoms. “This has led to an increase in workloads for administrators, both in terms of producing the transfer value quotes for members and also answering questions from IFAs,” he says.

• Your guide to final salary pensions

However, he adds: “Most of the issues around time frames comes from interactions with individual IFAs who need to get up to speed on the benefits provided to the member. This can be a time-consuming and repetitive process.”

Julian Mainwood, a partner at administrator Barnett Waddingham, told Moneywise: “We have seen a large upturn in defined benefit transfer requests from individuals and IFAs and, to a lesser extent, defined contribution transfer requests.

“These additional requests have invariably put a squeeze on pension administrators but, by and large, service levels have largely been maintained.”

Mr Mainwood agrees it is IFAs who have been slowing down the process. He believes it’s hard for consumers to find an IFA who can provide advice in a reasonable timescale due to their services being in “such high demand”.

Meanwhile, a spokesperson for administrator Willis Towers Watson comments that over the past 12 months, the volume of transfer requests has almost doubled, compared to those seen in the previous year, which were themselves running at a level double what they were in April 2015. They say that due to this volume, there has been “some” impact on response times.

The Moneywise view: What should consumers do?

If you’re thinking of contacting your pension provider yourself or getting independent financial advice, it’s best to act sooner rather than later and to be prepared for delays.

The process can take a long time, so allow time to sort out any problems that crop up.

• Should you cash in your gold-plated pension?

FASTEST DEFINED CONTRIBUTION SCHEMES

Canada Life – 1.2 weeks

B&CE Benefit – 1.6 weeks

Hargreaves Lansdown – 1.8 weeks

SLOWEST DEFINED CONTRIBUTION SCHEMES

Equitable Life Assurance Society – 5.5 weeks

Mercer Ltd – 5.4 weeks

Fidelity Pension Management – 4.4 weeks

Note: Figures based on number of weeks to provide information information. Source: Portafina (a financial advice firm), based on 12,337 requests for information made by Portafina on behalf of 6,821 new clients to over 650 different defined contribution and defined benefit pension scheme providers and scheme administrators. To be included, each provider must have fulfilled a minimum of 10 information requests between 1 November 2016 to 31 October 2017.

FASTEST DEFINED BENEFIT SCHEMES

Diageo Pensions – 1.6 weeks

Clerical Medical – 2.1 weeks

Prudential – 2.4 weeks

SLOWEST DEFINED BENEFIT SCHEMES

East Riding of Yorkshire Council – 17.1 weeks

Lancashire Council – 11.1 weeks

West Midlands Pension – 10.3 weeks

Note: Figures based on number of weeks to provide information. Source: Portafina.

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Industry Insider: Cautious optimism is the catchphrase in 2018

Investors could be forgiven for looking ahead to 2018 with a degree of confidence. Stock market returns were strong in most parts of the world in 2017 and volatility remains low.

The global economy looks healthier than it has for some time and the world finally seems to be moving on from the great financial crisis of 2008. Against this backdrop of improved economic growth, the Federal Reserve has raised interest rates four times since late 2015. The Bank of England also followed course in November 2017 with the first interest rate hike in a decade, while governor Mark Carney indicated another two hikes may be required over the next three years to control inflation.

• Jeff Prestridge: Three ways I plan to get rich in 2018

Of course, nothing in life is plain sailing: I expect to see some speed bumps during 2018. In the UK, these could include the Brexit negotiations, slow productivity growth and high inflation, which is denting consumer spending.

Valuations across a number of asset classes also look elevated. Quantitative easing (QE) has seen central banks in the UK, US, Japan and Europe inject trillions of cash into government bonds. This has inflated asset prices and powered the eight-year bull market that is still going strong.

As central banks embark on the challenge of unwinding QE, this will have repercussions for your investments. The bond market, in particular, could face some challenges in 2018. This is because mainstream government and corporate bond markets have been driven by low interest rates and central bank bond-buying activity. This has resulted in high prices and low yields (as the two move inversely to each other).

As rates start to rise and QE is withdrawn, I would expect to see yields going up and prices falling, which could result in capital losses. With this in mind, I suggest minimising the interest rate sensitivity of your bond allocations.

• Top 10 investment trust winners in 2017

You can do this by buying a fund that invests in bonds with a short time to maturity. These ‘short duration’ bonds are less sensitive to interest rate and inflation movements, compared with those with longer maturities. AXA Sterling Credit Short Duration Bond fund is a good example. Manager Nicolas Trindade invests in high-quality corporate bonds, typically with maturities of less than five years.

Within fixed income, emerging market debt is worth considering because of the attractive yields. Investors will need to decide whether they are happy with exposure to dollar-denominated debt or local currencies. Also, whether they prefer to keep this exposure sterling-denominated via a hedged share class or not. M&G Emerging Markets Bond is my top pick in this sector, with a yield of around 4.9%, according to its 31 October factsheet.

Equity valuations broadly look elevated, but some markets appear to be attractively valued on a relative basis. Europe, for example, has seen positive economic data coming through. There are pockets of value for savvy investors. I would highlight the T Rowe Price European Smaller Companies fund or for those who like investment trusts, the Jupiter European Opportunities Trust*.

fund-briefing-18-table.PNG

Japanese equities look cheap in comparison to other developed markets. Following Prime Minister Shinzo Abe’s landslide victory in October 2017, I’d expect to see further progress for his ambitious reform programme. Baillie Gifford Japanese and Schroder Tokyo are my top picks.

• Industry Insider: Have Abenomics done enough to make Japan a good investment?

Emerging markets comfortably outperformed most developed markets in 2017, and I see no reason why this can’t continue in 2018. The good news is that emerging markets continue to look attractive on a valuation basis. The Charlemagne Magna Emerging Markets Dividend is one fund to consider in this sector. Its focus on companies that pay higher-than-average dividends means it typically has a slightly lower risk profile than its peers.

I would approach your investments with cautious optimism in 2018. The fundamentals look positive, but I would drip-feed money into the market.

*A Moneywise First 50 fund for beginner investors.

Past performance is not a reliable guide to future returns. You may not get back the amount originally invested, and tax rules can change over time. Mr McDermott’s views are his own and do not constitute financial advice.

Darius McDermott is managing director at Chelsea Financial Services and FundCalibre

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Gain from an early start in frontier markets

Frontier markets, such as Argentina and Vietnam, are tipped to be the next strong investment story – much as emerging markets were 30 years ago – but they come with big risks.

If you have a higher attitude to risk and an appreciation of the long-term growth story of the emerging markets such as China and India, you may also be drawn to frontier markets. These smaller emerging areas at an early stage of development include Argentina and Vietnam and have huge potential for growth that is very appealing to investors.

• Industry Insider: Emerging market funds are looking good for long-term investors

Patrick Connolly, a certified financial planner with Chase de Vere, explains why frontier markets are a magnet for those searching out the next big investment idea. “They are home to 26% of the world’s population, have attractive demographics, rising employment and consumption, and an abundance of natural resources,” he says.

Many companies in frontier markets are also under-researched and this provides excellent investment opportunities for fund managers with the requisite resources.

Andrew Brudenell, manager of the Ashmore Emerging Markets Frontier Equity fund, says: “They’re what the emerging markets looked like 30 years ago. It’s basically the same story – you’re just getting in at an earlier stage of the process.”

His fund’s returns have come from a diverse range of markets including Argentina, Bangladesh, Georgia, Pakistan, the UAE and Ukraine. The most lucrative industry sectors, meanwhile, have been banking, the cement industry, healthcare, mobile, finance and agriculture.

The key to success is investing in countries that are going through a positive reform cycle, according to Dominic Bokor-Ingram, co-manager of the Charlemagne Magna New Frontiers fund. “The political will and support to follow through on reforms always creates economic growth and opportunity,” he says.

• Fund Briefing: Technology funds

For example, Vietnam has started to remove restrictions on foreign ownership of companies in some industries, making the country more appealing to investors.

“The way to attract equity investment is to make it easy for foreign and local institutions to invest in the local market,” he explains.

On a company level, he believes the best way to make returns is by investing in domestic growth, which often means investing in companies that focus on consumers.

A prime example is NMC Healthcare, an Abu Dhabi-based healthcare provider. “It’s a company that builds, operates and equips hospitals in the Middle East, particularly UAE,” explains Mr Bokor-Ingram. It has been held by the fund for five years, and was promoted to the FTSE 100 index on the London Stock Exchange in September 2017.

As well as a clear ‘top-down’ investment story – this is where the investor looks at the overall economic outlook and chooses sectors – with healthcare being a priority spend for people when they hit middle income, it’s also a well-run business.

“It’s proven it can operate in a way that maximises the share price and returns to shareholders,” he adds.

Oliver Bell, manager of the T. Rowe Frontier Markets Equity fund, has witnessed material improvements across many frontier economies in recent years. Their political backdrops have stabilised, market-friendly reform agendas have been introduced, and there have been high levels of foreign direct investment.

At present, his fund’s largest country exposure is in Argentina. “President Macri has successfully renewed investor interest by laying out a transparent roadmap for fiscal policy – and economic activity is recovering,” he says.

He also likes Vietnam. “It is growing exports to levels consistent with many developed countries and has a young, highly productive middle class emerging,” he explains. “Sri Lanka is also relatively overlooked, with cheap valuations.”

• Take some risk to find an income stream

Should you invest in the frontiers?

Mr Connolly insists that frontier markets come with a health warning, which means they’re only suitable for those willing – and able – to embrace a high degree of investment risk.

“There are significant social and political dangers, a severe lack of infrastructure, and poor corporate governance, meaning you might not be able to trust the accounts,” he says. It all adds up to a potentially volatile ride.

“There is scope to make both significant gains or large losses over very short time periods,” he adds.

Juliet Schooling Latter, research director at Chelsea Financial Services, agrees frontier markets are interesting, but also punchy and not for everyone.

“A small allocation to these markets may benefit investors with larger pots of money who want to add higher risk at the edges for potentially higher returns,” she says.

• Fund Briefing: China

In return, they will get exposure to some positive trends. “For example, a significant amount of manufacturing is being moved to Vietnam instead of China as wages are lower,” she says.

It is also an investment for the very long term. While no investment is a guaranteed route to riches, this is particularly the case for the more unpredictable, emerging parts of the world.

“Most retail investors are probably better off sticking to emerging markets funds that can also invest in frontier markets,” she adds.

For this, you’ll need to do some research. Establish which frontier markets you believe to be the most interesting and fi nd out which investment funds have this exposure.

For exposure to frontier areas, Ms Schooling Latter highlights the Charlemagne Magna New Frontiers, RWC Emerging Markets and T. Rowe Price Frontier Markets Equity funds.

One to watch: Charlemagne Magna New Frontiers Fund

Where to buy it: The fund is available via DIY investment platforms and independent financial advisers.

This fund aims to grow investors’ money rather than produce income. It focuses on quality companies with strong management teams, sustainable growth prospects, and attractive valuations.

The managers have a bottom-up approach to investing, which means they focus attention on specific companies rather than on an industry or an economy. They spend a lot of time in meetings with company executives to discover overlooked opportunities.

Stefan Böttcher and Dominic Bokor-Ingram, who manage the portfolio, prefer to put their money into companies that they think have decent long-term prospects.

“Belief in the sustainability of their growth and evidence of good shareholder relations are key drivers for us,” they state.

• Moneywise Fund Awards 2017: Funds with star quality

The fund, which aims to perform better than its benchmark, the MSCI Frontier Markets Index, has between 40 and 70 holdings.

Argentina, the UAE and Vietnam are among its most significant country exposures, each of which accounts for around 15% of assets under management.

Other areas – accounting for less than a 10% share of assets each – include Romania, Kuwait, Poland, Pakistan, Georgia and Saudi Arabia.

As far as sectors are concerned, financials has the largest share with 31%, followed by the 12% in consumer discretionary names and 10% in energy.

There is also exposure to materials, industrials, consumer staples, healthcare, information technology, utilities, real estate and telecommunication services. 

charlemagne-table.PNG

About the fund: Charlemagne Magna New Frontiers Fund

201312 Stefan Dom.jpg

Managers:  Stefan Böttcher (left) and Dominic Bokor-Ingram (right)
Launch date:  16 March 2011
Size of fund:  €471 million
Minimum initial investment:  €5,000
Minimum top-up investment: €100 Initial charge: Up to 5%
Ongoing charge: 1%
Performance fee: 20% of outperformance over the benchmark – MSCI Frontier Markets Index.
Contact details: Charlemagnecapital.com

QUICK GUIDE: Consider investing in this area if…

• You have a higher risk approach to investing
• You are investing for the long term
• You want exposure to developing areas of the world

Rob Griffin writes for The Independent, Sunday Telegraph and Daily Express.

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This Company Empowers Military Spouses With Mobile Work-From-Home Jobs

“Being an Army brat and now an Army wife, everywhere is home!” says Jocelyn Velazquez.

Daughter of a 20-year Army vet, wife to a 13-year Army NCO and former Ranger instructor, and mother of four — with a fifth on the way — Velazquez is no stranger to the rootless existence of a military family.

Though she considers Indiana home, she’s lived with her family in Fountain, Colorado, for the past two years. Before that, they were in Dahlonega, Georgia, and prior to that, she and her husband met in Colorado.

Few of us will be surprised to read this experience; we’ve heard it many times from military families. But what we civilians may not consider is one major side effect of the lifestyle: military spouse unemployment.

Imagine trying to hold a decent job — let alone build a career — when you move to a new city almost on average every 3 years.

And you’re raising your kids alone while your spouse is deployed.

And your resume shows inevitable job-hopping, and you have to admit to a potential employer you might not stick around.

Unemployment among military spouses is historically two or three times higher than the national average. And when they’re employed, the barriers to career advancement mean military spouses earn much less than other civilians.

Thankfully, Velazquez found a unique opportunity for mobile income.

How R. Riveter Provides Portable Careers for Military Spouses

Velazquez has been a contractor with high-end handbag maker R. Riveter since January 2014.

Military spouses Lisa Bradley and Cameron Cruse launched R. Riveter from a Georgia attic in 2011.

In September 2014, they ran a Kickstarter campaign and raised more than $42,000 — beating their $35,000 goal — for better equipment and a larger space to meet the growing demand for their products.

The company’s mission and concept are as elegantly simple as its handbags: Riveters around the country handmake pieces of the bags from recycled military materials and leather, then ship them to a central location for assembly and sale.

Remote Riveter employees can sign up for hands-on leather work and basic or industrial sewing, depending on their skills and interest.

Velazquez cuts leather, which she says consists of “a lot of stamping.” She also recently started cutting canvas, which makes up the bulk of some bags.

It’s been a learning experience, she says. “The number of skills I acquire with this position are unmeasurable.”

What It’s Like to Be a Riveter

Riveter’s contractors are paid per part and varies depending on the specific part, so Velazquez can earn as much or little as she wants based on how much work she puts in.

She also has the flexibility to take the job wherever her husband’s position takes their family.

“I am able to take my work with me anywhere we move,” she says. “I also do not have the worries of losing a job because we are being stationed somewhere else.”

Plus she gets the benefit of raising her kids without sacrificing income.

“Being able to work from home also allows me to be a stay-at-home mom and experience my children grow into the little monsters they are!”

The company helps Velazquez and fellow Riveters set up a portable work-at-home business with almost no barrier to entry.

How to Become a Riveter

R. Riveter sends contractors the materials they need to create pieces.

Depending on your existing setup, you may want to purchase some tools to get started. But if you already have a sewing machine, you may be all set!

Velazquez has purchased new tools to make her job easier, but she says it wasn’t required.

Once you’re up and running, the company offers consistent work. You’ll receive materials and sell back pieces as fast as you can produce them — a huge benefit over other common contract work.

The other major benefit is being part of a network of military spouses, says Velazquez.

“We take pride in what we are working for and the message we are trying to spread,” she explains. “We empower each other, we are… a large, widely spread, empowering family.”

The company promotes this sense of community and pride at every step.

Regardless of where they are in the country, Riveters feel a connection to those doing the same work. If there’s any drawback, Velazquez says, it’s “not seeing the wonderful ladies I work with everyday.”

Every piece of every R. Riveter bag comes with the stamp of the contractor who created it, and customers can meet the Riveters on the company’s website. It even includes their locations, so you can see where in the country each piece of a bag comes from!

The company also supports military members and spouses by partnering with like-minded non-profit, veteran-owned and military spouse founded organizations.

The Shark Tank Effect

“R. Riveter products represent the humble and courageous spirit of the military spouses we currently empower, and hope to employ with The Sharks,” Cruse told ABC when the company appeared on a military-themed episode of “Shark Tank” in 2016.

From their appearance on the show, Cruse and Bradley struck a deal with investor Mark Cuban for $100,000.

In less than six months after bringing Cuban on board, the company more than doubled the size of its operation. From 13 Riveters in January 2016, the company grew to 31 by June and made Inc. 5000”s list of the fastest-growing companies in 2017.

They updated their flagship store in Southern Pines, North Carolina, and expanded production to keep up with “the Shark Tank Effect” — the wave of business that rolls in after a company appears on the popular show.

How to Become a Riveter

The company is growing, and its mission is to provide as many military spouses as possible with mobile income.

So they’re always accepting applications!

If you want to become a Riveter, fill out the application here. Just be patient while you wait for a response.

If you’re in the area, they’re also hiring for on-site positions at their Southern Pines FabShop.

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more, attempting humor wherever it’s allowed (and sometimes where it’s not).

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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9 Ways You Can Get Paid to Lose Weight (and Finally Keep That Resolution)

So many of us resolve — and then break our resolutions — to lose weight every New Year’s, it has become a cultural joke.

But what if you could get paid to lose weight? Would having a dollar amount attached to your weight loss efforts incentivize you to stick with it?

Get Paid to Lose Weight in 2018

With a multitude of paid diet plans like Weight Watchers, and the exorbitant prices attached to premier gym memberships, boutique fitness studios and fancy workout clothes, losing weight might be more readily correlated with spending money than making it.

But you don’t have to spend a ton of money to incorporate fitness into your life. You can get your fitness gear on the cheap at vendors like Target and Old Navy, and opening the front door to head out for a run is always free.

Even better? We found a surprising number of ways to get paid while getting fit. Here are nine worth trying.

Bet on Yourself

Ready to put your money where your mouth is?

No, I’m not suggesting a dollar bill diet. These apps and programs facilitate taking a small monetary risk to help you stick to your weight loss goals — and engage your competitive spirit.

Then, get rewarded at the end of your journey. It pays to achieve, in more ways than one!

1. HealthyWage

Do you have a specific number of pounds you want to lose — and the confidence that you can get the scale to match? Check out HealthyWage, where you can make a (healthy) wager on your ability to stick to your plan.

Here’s how it works: you come up with a goal weight and a time frame to achieve it, and then you lay down some money that says the scale will correspond with your plans. If you achieve your goals, you’ll have two things to celebrate: your svelte new self, and a hefty prize check cut by HealthyWage.

We don’t typically tell you about betting opportunities, but this made the cut since you’re betting on yourself. Prize amounts depend on how much you have to lose, how quickly you want to do it, and, of course, how much you bet.

Playing with their betting interface on my own, I learned I could make up to $529.41 for losing 15 pounds! That’s about $35 a pound, and about a cent per calorie cut.

Want to combine monetary incentive with the power of teamwork? HealthyWage offers team challenges, too — either with your officemates or a group set up by the site if your company’s not on board.

By the way, the earning potential for the team challenges is pretty serious: you pay $25 per month, for three months, to participate, and you could win up to $10,000.

2. DietBet

Another great option for making weight-loss wagers is DietBet, which pools participants into teams based on their goals.

Choose from the Kickstarter plan (lose 4% of your body weight in 28 days), the Transformer plan (lose 10% of your body weight in 6 months), or become a Maintainer (keep your already-shed weight off for 12 full months).

Make a bet, and either pay monthly or all up front. Then, the winners split the pot — and achieve the fitness goals of their dreams!

The best part about DietBet is it helps you get involved in a community of people with similar goals, which provides both challenge and support. And since you can keep enrolling in different plans as you progress, you stand to earn a decent chunk of change as you get stronger, healthier and happier.

3. Pact

Want to bet on your habits rather than the number on the scale?

Even the health nuts among us have off days where they need a little more motivation. Why not make a little bit of extra cash while you’re at it?

I’ve been using Pact for quite a while, and earn at least $50 per year just keeping up with the healthy habits I’d (hopefully) maintain anyway.

To participate, simply download the app and link your Paypal account. You’ll make a pact with yourself to hit the gym and track your food consumption a certain number of days per week, and if you don’t follow through, you’ll pay — as little as $5 or as much as $50 per incident.

But if you keep up with your healthy promises, you’ll earn a little bit each week — a few cents or a couple of bucks, depending on how many activities you track and how many Pacters didn’t keep up that week. (That’s where that $5-$50 wager goes!)

You can even make a Pact to eat a certain number of fruits and vegetables each week. Snap a quick photo of your salad or apple and receive rewards if the community agrees it should count! That’s right, your veggies have to be verified by outside parties, so you can’t get away with trying to claim that pizza’s a vegetable.

Worried because you’re active, but don’t have a gym membership? Don’t fret: Pact syncs with apps like RunKeeper so your motion matters, no matter how you get moving.

Keep Track — and Rack Up the Cash

Counting calories and tracking steps helps you hold yourself accountable for your choices — and makes it easy to see which of your habits need improvement.

If you’re planning to track your fitness through digital apps, lots of programs will help you earn a little extra money! Here are a few.

4. Higi

The last time I was at Publix to pick up a prescription, I settled in to wait the half hour it apparently takes to put 10 pills into a small orange bottle… and noticed a blood pressure kiosk set up conveniently in the waiting area.

Curious, and with time to spare, I sat down and strapped in. 116/76 — and it told me my pulse, weight and BMI, too! I was asked to create a username so I could track my results over time, and thus, I became a user (and fan) of Higi.

What I didn’t know was that I could earn rewards just for keeping track of my vitals and maintaining healthy habits. Some of these are really generous — $35 toward HelloFresh! Yes, please.

5. Walgreens

If you shop at Walgreens regularly, you know their Balance Rewards points can go a long way for saving money on essentials. What if you could earn even more Balance Rewards points, just by tracking the healthy habits you’re keeping up with this year?

If you track your caloric intake with MyFitnessPal, your jogs with RunKeeper, or your steps with your FitBit, you can! Check out all their Balance Rewards healthy choices offers. They also reward other popular resolutions, like quitting smoking.

6. Achievement

Formerly known as AchieveMint, this app is so appealing, there used to be a waitlist.

With Achievement, you can sync up the fitness tracking apps you’re already using to earn real rewards like Visa gift cards. Heck, you’ll probably learn about a few new tracking apps, since Achievement supports over 30 of them!

Cash In on the Fitness You’ve Already Earned

Even if you’re already living a healthy lifestyle, you might be missing out on steep discounts — and even earnings! Here’s how to maximize the payoff on your hard-won fitness.

7. Teach Your Healthy Ways

Take advantage of the January increase in ambition, and teach a hopeful newbie the skills that won you that rockin’ bod. Bonus: if working out is your job, it’ll be easy to keep the pounds off!

You could lead a boot camp, or sink some time and money into becoming a certified personal trainer or yoga instructor.

8. Get a Sweaty Side Gig

Don’t have the teacher gene? Not to worry! There are still sweaty jobs out there for you.

Postmates hires bike contractors to deliver goods to customers on the fly, and you get to set your own hours.

Like to get outside? If a thirst for adventure is close to your heart, you could become a river rafting guide or trail builder (and you’ll earn a nice wage, too!).

9. Check With Your Health Insurance

When you’re at your healthiest, your insurance company has to pay for your care less often. So it’s in their best interests to keep you fit!

Lots of different insurance companies offer fitness incentives, from gym membership reimbursements to waivers for commercial diet plans.

For example, BlueCross and BlueShield offers exclusive health-related deals to its members through Blue365, so you can save money on the goods and services that keep you healthy and active. Humana’s Go365 program rewards your smart choices with 10% savings off healthy products at Walmart.

Whoever your insurer is, give them a ring and see what they can offer you for living a healthy lifestyle.

Get Motivated and Make it Work!

The key to achieving any goal is to create new behaviors — and sustain them. You’ve heard it before, but it’s true: Weight loss requires a lifestyle change, not just a quick-fix diet.

By tying money to your new healthy habits, you’re more likely to keep them up. Fitness is a great reward in and of itself, but extra earnings are definitely a good reason to stay on the wagon!

Jamie Cattanach is a freelance writer and a native Floridian. She’s passionate about learning, literature, chocolate and finding ways to live the good life as cost-effectively as possible. You can wave hi to @jamiecattanach on Twitter.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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