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الجمعة، 21 أبريل 2017

GFC 090: Required Minimum Distribution Rules For IRA and 401k’s

required minimum distribution rulesRemember the first day you put money into your retirement account?

You have seen your retirement account grow over the years and you have been blessed because you have never had to tap into it.

Now the grand-kids are your new focus and you have decided to just pass it on them since you will never need it.

You have just turned 70 and a friend of yours in a similar situation is griping because they had to pay taxes on their retirement plan because they had to take money out.

Puzzled on the IRS rules you do some research (or go to my blog) and you learn about Required Minimum Distributions.

We’ll call them RMD’s for short.

It's Time To Take Your Distributions

The beauty of investing in retirement plans is the tax deferred growth. All these years you’ve seen your account grow but never had a 1099 you had to report any of those gains on. You planned well enough were you have prolonged withdrawing even longer now, but you can only hold out for so long.

The IRS is chomping at the bit waiting to get some of that tax money back. They do so with RMD’s by making you take out a portion of your retirement account each year and pay the respective tax on it.

If you don’t take it out, you get taxed 50% of the amount that you should have taken.

That’s a pretty stiff penalty that you want to avoid.

RMD's and 401k's

Typically, the same required minimum distribution rules apply to your 401k as your IRA.   The big difference, however, is if you are still working until after you've reached 70.5.  In that case, the IRS allows you to postpone your RMD's up until the day you retire.  That's a good scenario for those that haven't saved enough and continue to work to boost their retirement savings.

When do RMD's  have to start?

The IRS says you must start by April 1 following the year that you turn 70 and a half, and you must do it each year ongoing. Some retirement plans will allow you to postpone withdrawing so long as you are still employed by that company. Keep in mind that April 1 is for the first year and the first year only. After the first year, it falls back to a calendar year schedule and must be withdrawn by December 31.

RMD Example

Somebody born on July 1, 1945 would not turn 70.5 until January 1, 2016. That means that they would not have to take their first RMD until April 1, 2017 (which would satisfy 2016 RMD requirement).
They would, however, be required to take another distribution that year by December 31, 2017 to satisfy for that year. Each year following would follow the December 31st deadline.

How much do you have to take?

The amount will also be based on the previous year’s balance in your retirement plan. For example, to figure your RMD for 2017 you would take the value of your plan as of December 31, 2016.

The amounts to be withdrawn are based of life expectancy tables issued by the IRS which factor in your age, your beneficiary’s age, and your relationship with your beneficiary. Based on the 2016 Uniform Life Expectancy Table, you can expect to be required to withdraw 3.65% of your retirement plan when you turn 70.5. It then increases to 3.77% the next year and increases each year ongoing. The IRS tables are named:

  • Single Life Expectancy
  • Joint Life and Last Survivor Expectancy
  • Uniform Lifetime

The tables are helpful, but nowadays calculators are used to compute the amount with ease. Please seek guidance from a financial professional to ensure that you are taking your RMD’s correctly.

Do You Have to Calculate RMD's on Your Own?

Luckily, no.  Most financial institutions will calculate the figure for you.   For all my clients that have reached RMD age, my custodian calculates the RMD amount for my clients and then I contact the client to notify them of the amount.

Another thing to consider is that since it is a taxable distribution, your IRA custodian will most likely require you to sign a form to take out the money (at least the first time).  If a form needs to be signed, don't procrastinate and wait till the last minute.

What About RMD's and Roth IRA Conversions?

With the rules regarding Roth IRA conversions now lifted, I've had several RMD candidates inquire about converting their RMD's directly into a Roth IRA.

While the concept sounds good, it's not allowed.  The IRS will make you pay tax and remove the RMD proceeds.  Anything left after the RMD can be converted into a Roth IRA – just remember you'll have to pay the appropriate tax.

The post GFC 090: Required Minimum Distribution Rules For IRA and 401k’s appeared first on Good Financial Cents.



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Mistakes To Avoid Right Before Retirement - Don't Damage Your Retirement Finances

Don't be an unhappy retiree — keep an eye out for these potential pre-retirement pitfalls as your retirement approaches.

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5 Top Myths And 5 Top Facts About Tax Refunds - What You Need to Know About Your Tax Refund

It can be difficult to tell myth from fact when it comes to tax refunds. Here are the top five tax refund myths you need to stop believing.

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One Possible Factor in the Gender Pay Gap? Your College Major

Has anyone tried to tell you that nursing is for women? Or that engineering is for men?

Well, in case you didn’t know it already, let me be the first to tell you — they’re wrong.

Even still, young men and women seem to choose certain college majors, and subsequently certain career paths, which lead to in gender imbalances in many fields.

In a recent report, Glassdoor looked at the resumes of nearly 47,000 people who graduated between January 2010 and January 2017. It examined their college majors and early career paths and broke them down by gender.

The report found many college majors that lead to high-paying jobs in engineering and tech are male-dominated.

Meanwhile, women make up a higher percentage of graduates with social science and liberal arts degrees, which tend to lead to lower-paying jobs.

“Because men and women systematically sort into different college majors, they experience different early career paths, which pay differently,” Glassdoor reports.

According to the report, “this type of occupational sorting explains about 54 percent of the overall gender pay gap” in the U.S.

The study found men dominated majors like:

  • Mechanical engineering: 89% male
  • Civil engineering: 83% male
  • Physics: 81% male
  • Computer science and engineering: 74% male
  • Electrical engineering: 74% male

On the other hand, women dominated majors like:

  • Social work: 85% female
  • Healthcare administration: 84% female
  • Anthropology: 80% female
  • Nursing: 80% female
  • Human resources: 80% female

The top five college majors leading to the highest salaries were all male-dominated ones (the salaries listed are the median base pay):

  • Computer science and engineering (74% male): $70,000
  • Electrical engineering (74% male): $68,438
  • Mechanical engineering (89% male): $66,040
  • Chemical engineering (69% male): $65,000
  • Information technology (68% male): $63,500

The top five majors leading to the lowest salaries were an even mix between male-dominated fields of study and female-dominated ones:

  • Criminal justice (52% male) $40,000
  • Kinesiology (62% male): $40,000
  • Exercise science (50% split): $40,640
  • Healthcare administration (84% female): $41,000
  • Social work (85% female): $41,000

The top three college majors where men outearn women are healthcare administration, mathematics and biology.

Men with a degree in healthcare administration earned an average of $51,250, while women with the same degree earned $40,000.

For those with a math degree, men earned $60,000 while women earned $49,182.

Male bio majors earned $46,000 while the female counterparts earned $40,000.

Still, men don’t take the advantage in every field. Female students who majored in architecture, music and social work ended up making more than male students with the same major.

Women with an architecture degree earned $57,000 while their male counterparts earned $50,000.

Female music majors earned $44,020 while men earned $40,000.

For those with a degree in social work, women earned $40,640 while men earned $37,500.

College Majors Don’t Tell the Whole Story

However, if you think the selection of college major alone is the sole source of future salary disparities, you’d be mistaken: graduates’ career paths also play an important role.

“One surprising finding is that even within the same college major, men and women tend to sort into different jobs — which pay differently — after college,” Glassdoor reports.

“For example, among women who major in biology, the most common three jobs after college are lab technician, pharmacy technician and sales associate,” the report says. “By contrast, the three most common jobs for male biology majors are lab technician, data analyst and manager.

“The fact that men are more likely to work as higher-paying data analysts or managers, while women are more likely to work in lower-paying roles as pharmacy technicians and sales associates, creates a gender pay gap, even for students with the same college major.”

Bottom line: Your college major is a big decision that could have long-standing effects on your career path, your lifetime earnings and even what lifestyle you’ll live.

How you use that degree is also vital. So choose wisely.

Your Turn: Was your college major dominated by one gender? Is your job?

Nicole Dow is a staff writer at The Penny Hoarder. She was disappointed, but not surprised, to learn the study found male journalism majors outearned their female counterparts, even though more women studied journalism than men.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Deal of the week: Yorkshire Building Society launches 0.89% mortgage

Yorkshire Building Society has unveiled a two-year 0.89% mortgage, the lowest rate on the market today and the lowest rate ever offered, according to comparison service Moneyfacts.

Yorkshire Building Society has unveiled a two-year 0.89% mortgage, the lowest rate on the market today and the lowest rate ever offered, according to comparison service Moneyfacts.

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7 Cringe-Worthy (But Common) Mistakes to Avoid When You Move Back Home

These past nine months have been weird.

No, I didn’t have a baby — I moved back home with my folks.

My decision was easy: I’d secured my first full-time job with benefits. And it was a writing job — amazing. The office was situated less than five miles from my childhood home.

Additionally, I’m really close with my parents. After venturing out on my own for six years, the move back was welcomed — might I say, encouraged.

Plus, I’m saving a ton of money.

Rent for a decent one-bedroom apartment in my quickly-growing hometown starts around $900 a month. Pocketing that money over the past year has been a blessing. I’m now building a financial foundation for my future rather than living paycheck to paycheck.

I’m thankful for my parents, for my home, for my decision. However, if you’re considering this move, it’s not as simple as decluttering your room of high school belongings.

7 Mistakes We Made When We Moved Back Home — and How to Avoid Them

Take my word for it: Mistakes will be made. On your end, on your parents’ end, on everyone’s end.

So if you’re considering the move back in with your parents — or are already there, reading this from your brightly-painted childhood room — take notes.

Luckily, I haven’t committed all of these mistakes. I also polled my friends, my coworkers and our Facebook community group to ask: What mistakes did you make when you moved back home and how can they be avoided?

Mistake No. 1: Thinking you’re the only one who’s miserable

Chances are, your folks probably are, too.

Whenever I got caught up in fits of angst and frustration, my mom would remind me: “You’re not the only one having to deal with this change.”

My parents hailed over an empty nest for two years. It took a while for them to adjust after my little brother moved out, but they ultimately loved the carefree lifestyle.

Then I came back home.

“You must remember that not only are you adjusting to living with your parents again; your dad and I are adjusting to losing our empty nest,” my mom recently told me.

How to avoid this mistake: One of my best friends from college has lived back at home for two years. In the beginning, she joked her parents were her new roommates.

Really, that’s a great way to think about them. They’re no longer your caretakers. They’re more like roommates, and you have to be respectful.

Mistake No. 2: Not establishing the house rules beforehand

Oh, you’re going running? Get back before dark, is something my dad would say.

Dadddd. You do realize I lived downtown in a major U.S. city without knowing anyone, and somehow survived, right? And I worked at a magazine with 2 a.m. deadlines. Then, I walked home… by myself.

Your parents might forget you’ve been out growing up and doing adult stuff, and settling back into your old room doesn’t really help make you feel like an adult.

How to avoid this mistake: It’s important to establish ground rules before moving back in. Yes, you’re invading your parents’ space; you need to be respectful.

But that 11 p.m. curfew you had senior year probably isn’t relevant any more. And no alcohol? Well, I’m 24 now, and wine is nice.

Mistake No. 3: Disregarding rent or a payment plan

My parents don’t make me pay for rent. Yeah, boo, hiss; I’m a spoiled millennial.

But also this is something they can easily hold over my head. For example, my mom ate my beloved guac the other day (on accident). I made a comment about it — probably a little sassy — then she reminded me she’d bought the chips I’d been using to eat the guac. And that I’m living in her space.

Luckily, this isn’t a common occurrence in our house. But I’ve been in plenty of households with adult children where the most common retaliation to any type of argument is, “Do you wanna start paying rent?”

How to avoid this mistake: Even if your parents don’t ask for rent, be sure to do your part around the house.

I know my mom hates unloading the dishwasher, so I try to do that as often as possible. I help with laundry. I keep my room clean. I squeegee the shower doors — a weird thing she really likes having done.

One of my coworkers says she negotiated a more concrete plan when she moved back in with her parents for a few months. Rather than paying rent, she promised to keep the fridge stocked and have dinner prepared.

Unfortunately, it didn’t all come out in the wash. “I ended up spending way more on the food bill for three people and two dogs than I would have spent on modest rent,” she says.

So be smart about it.

Mistake No. 4: Spending all your time at home

When I lived on my own, my apartment was my sanctuary. After 12-hour days in graduate school, I came home — and usually stayed there throughout the weekend. A veggie.

But doing this while living at home can bubble up the feelings I mentioned above: angst, frustration…

How to avoid this mistake: Make plans. Get out of the house. Or seclude yourself, whichever you prefer.

My boyfriend lives in Orlando, so I make trips to see him at least twice a month.

However, if I’m not traveling one weekend, I enjoy staying at home. But I realize my parents are not there to entertain me. Instead, I do my own thing. I stay out of their way, and they stay out of mine.

But if you work from home, this adds special, complicated layer to the situation.

My coworker, Dana Sitar, moved back with her parents one summer while she was a freelance writer. “That meant I was around way too much,” she says. “And they also generally didn’t understand when I was working or not.”

On my work-from-home days, I’m sure to establish my boundaries.

Mistake No. 5: Forgetting you’re an adult

Do not forget you’re a functioning adult.

I’m 24. I have a full-time job with awesome benefits. I have a serious boyfriend. I have two higher education degrees.

I still have a lot to learn, but I’d say I’ve earned my “adult” patch.

However, it’s really easy to forget this. You see your cohorts doing exotic things on social media, you’re dealing with this “lazy millennial” stigma people seem to have and you’re in the same space you lived in when you were an actual child…

But you can’t lose sight that you’re an adult.

How to avoid this mistake: Remember, you’ve done things. You’re doing things. Just because you’re saving money or have found yourself in a rut doesn’t mean you deserved to be looked down upon.

So establish your own roots.

I find I can quell this feeling with a schedule: I work 9-5, come home, go on a run (sometimes), have dinner, take care of chores. I budget, and I keep my eye on new apartment listings. I also enjoy hanging out with my coworkers.

Mistake No. 6: Not setting an end goal (or move-out date)

I moved back home somewhat willy nilly. Sure, this will be nice for a while.

I told myself I’d save money for about six months and be out around Christmas. However, I didn’t set any end goal — or hard deadline. And look at me now. It’s been nine months, and I’m still here.

And I really don’t have any proactive plans to pack up soon, either.

How to avoid this mistake: Set some goals.

If you want to build up a savings account or emergency fund before hitting the road, calculate six months’ worth of living expenses.

You’ll want to break out your rusty math skills to do this — perhaps build a budget. Bring your paycheck and expenses (including potential ones) expenses into the picture.

Either way, having a hard deadline or tangible goals is a lot better than saying, “Eh, it’ll happen when I’m ready.” Because you might get a little too comfortable…

Mistake No. 7: Thinking about all the money you’re saving — and spending it on other stuff

I’ve saved the biggest, most cringe-worthy mistake for last.

Like I said, I moved back home to save money — avoid rent. And, at first, I was really good at saving — especially because I didn’t have much to work with. But now what I’ve stashed away a little, it’s easy to slip and spend too much here and there. Even on a paycheck-sized football ticket.

How to avoid this mistake: One of my family friends responded to my Facebook query with a stellar piece of advice: “Pretend that you’re paying rent, and put that money in a savings account,” she wrote. “When you’re ready to live on your own, you’ll have a great downpayment for a house!”

Another Facebook friend reached out to tell me she wish she’d used the money she’s saved to pay off her car. Now, she’s shopping for an apartment but has to narrow her budget to account for her monthly payment.

Now that I’ve written about these mistakes, I’m wondering: Who the heck would move back home?

But I don’t regret my decision — so long as I can continue to budget and squirrel away money.

Your Turn: What advice can you add to this list?

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. She’d like to add Mistake No. 7: Moving back in during an election year when you don’t totally agree with your parents’ views. Yikes.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Woodford asks for patience after performance disappoints

Woodford Patient Capital trust has reported a fall in net asset value of 4.2% per cent for 2016, which means investors will not pay a performance fee for last year.

Woodford Patient Capital trust has reported a fall in net asset value of 4.2% per cent for 2016, which means investors will not pay a performance fee for last year. 

The fund has been slow out of the blocks since listing on the main market almost two years ago, with its share price 13% lower than at launch.

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Free Pretzel? Yes, Please! Here’s How to Score One From Auntie Anne’s

When I was younger, a trip to the mall meant two things: New clothes and a cinnamon sugar pretzel with cheese sauce from Auntie Anne’s, the perfect combo of salty and sweet.

Well, with National Pretzel Day just around the corner, you could get your own pretzel — cinnamon sugar or original — for free.

The free soft pretzels kick off on Wednesday, April 26 and will be available until Sunday, April 30.

Download the “My Pretzel Perks” App

To claim your free pretzel, you will have to download the Auntie Anne’s “My Pretzel Perks” app by 11:59 pm on April 25.

Each person who downloads the app in time with get the chance to claim one free pretzel before the end of the weekend.

By downloading the app, you will also be entered into a contest to be one of five people to win free pretzels for a year.

If you’re a frequent pretzel eater, keep the app on your phone. You could also earn points for free food in the future and cash in for a free pretzel on your birthday while you rack up deals on your special day.

Download the app here.

Your Turn: Which Auntie Anne’s pretzel is your favorite?

Desiree Stennett is a staff writer at The Penny Hoarder. The cinnamon sugar pretzel with cheese sauce is still her favorite.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Beware: shopping around for a loan could hit your credit score

Consumers could be losing out financially by shopping around for a personal loan product, thanks to “underhand” credit searches conducted by lenders.

Consumers could be losing out financially by shopping around for a personal loan product, thanks to “underhand” credit searches conducted by lenders.

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Get Fit While Earning $15+ Per Hour With This Awesome Side Gig

My husband and I have the crazy vision of buying a house someday in the San Francisco Bay area.

When I feel restless about this formidable goal, I start scheming up ways to make more money on the side. Last year’s attempts included self-publishing a book, dog-sitting (which involved trying to calm down a barking dog while fielding complaints from neighbors), and decorating and reselling furniture I found on the street. Those were interesting, but I was looking for something new in 2017.

To start the new year on the right foot, I decided to try walking around town delivering food with Postmates. It’s good exercise and has been much more enjoyable than some of my previous side gigs. On the other hand, buying a house still looks pretty tough.

What is Postmates?

Like Grubhub, DoorDash and UberEATS, Postmates delivers food and other products from places that may not have their own in-house delivery services. If you live in a dense enough town, Postmates and DoorDash allow deliveries on foot.

It’s easy to sign up to be a courier, and you can work as much or as little as you like. When you want to deliver, you turn on the app and wait for it to find a job close to you.

Why Postmates is Awesome

  • Instead of paying for lunch, you can get paid to walk around with other people’s lunches.  Last week, I took a break from the office and made $7.50 for walking an order of McNuggets a few blocks.
  • For those who love to walk or have fitness goals, it’s a way to plug into the gig economy and get paid for doing something that you like.
  • As someone who dislikes driving, I had previously thought that the gig economy world of ride-sharing and delivery services wasn’t for me. In fact, because I didn’t realize walking was an option, I wrote off Postmates when I first came across it in my weekly Funcheap newsletter last year. If you don’t mind driving, scooting or biking, those options are also available.

Where Postmates Comes Up Short

  • At some restaurants, the client places the order ahead of time, so you can just go in, pick it up and continue walking. At others, though, you have to order when you get there (with a Postmates debit card), forcing you to wait in line and then wait for the restaurant to prepare the food. Fortunately, you get paid more for the wait time!
  • It isn’t possible to see the customer’s location before you accept a job, so you can’t tell in advance which direction you’ll need to walk next. This prevents me from accepting jobs if I need to get back soon, since the job might send me in the opposite direction of my next commitment! The app will not assign walking couriers destinations outside of a reasonable walking radius, though. The most I’ve had to walk is about 15 minutes.
  • Tipping is encouraged, but I’ve found that only about 21% of customers tip. The average tip among those customers was $2.87.

How to Get Started

It’s free to get started with Postmates, but you’ll need a smartphone to download the app (it’s compatible with Android or iPhone). Onboarding involves filling out a form online, which submits your information for a background check, and attending a brief orientation at a Postmates office.

The orientation is about 15 minutes long and mostly serves to give you an insulated bag for carrying food and a debit card you use to pay for customers’ orders at restaurants. I went to an evening orientation, so it didn’t interfere with my standard work hours.

It took me a few tries to get the little things down. For example, when a customer reached for the bag of food on my first day, I was still in the office mindset and thought he wanted to shake hands! I tried (and probably failed) to cover this up. I’m also still working out the best technique for carrying delivery items and an umbrella while using the app.

How Much Money Can I Make Delivering for Postmates?

Delivery payouts vary by city, and they increase based on the distance you travel to complete the delivery and how long you have to wait for the restaurant to fulfill the order.

When demand is high — like lunchtime or during a downpour — Postmates increases payouts by a multiplier (up to 2x) to encourage more couriers to turn on the app.

So far, my earnings per delivery have ranged from $4 to $10.53. All told, I’ve made about $150 doing 19 deliveries in my first three weeks, including a $20 sign-up bonus. At the speed I walk, this comes to roughly $15 per hour.

Earnings are paid by direct deposit every few days, so if you deliver a few days per week, you’ll see a steady stream of income.

How to Make More Money Without More Effort

If you’re an avid walker and a Penny Hoarder reader, you may have already set up your fitness tracker to reward your steps through programs like GymPact, Achievemint and Walgreens Balance Rewards for Healthy Choices. These programs reward you in PayPal payouts or in-store rewards points for walking.

The payouts aren’t large, but since you’ll be walking to complete your deliveries, make sure to turn on these passive income streams.

Get Paid to Get in Shape

If you need a nudge toward that New Year’s resolution of getting your steps in, delivering with Postmates can help you meet this goal. According to my Fitbit, I am averaging 14,700 steps per day since I started doing deliveries, a 31% increase over the previous month. The distances between the restaurant and the customer have taken me anywhere from five to 15 minutes to walk.

Finally, a Travel Hack

If you’re traveling in a city that uses Postmates, doing a delivery can help solve the age-old tourist’s dilemma: finding a restroom.

The app will send you to a restaurant, and you can use the restroom as a paying customer while the food is being prepared. Then, walk the food to the customer, and voila! You found a restroom and got paid.

Your turn: Will you add deliveries to your walking money hacks?

Holly Gaston is an energy analyst in San Francisco. She enjoys finding ways to get paid for walking around the city.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Probate fees hike scrapped

A planned hike in probate fees has been scrapped by the government as it says there isn’t enough time to for the new rules to be approved by Parliament before the general election on 8 June.

A planned hike in probate fees has been scrapped by the government as it says there isn’t enough time to for the new rules to be approved by Parliament before the general election on 8 June. 

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الخميس، 20 أبريل 2017

Natural gas fueling stations coming to Monroe transit authority

Monroe County will be host to one of the first of 29 compressed natural gas fueling stations in the state.The effort will be part of a joint venture between the Pennsylvania Department of Transportation, Trillium CNG and Cam Tran.The Monroe County Transit Authority will be the beneficiary of this program, with a natural gas fueling station going into construction in 2019. It should take less than a year to complete.It is a part of a statewide program to supply liquid [...]

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Aqua Pa. announces it will spend $292 mil on statewide improvements

BRYN MAWR (AP) — Aqua Pennsylvania (Aqua) today announced the company will make $292 million in infrastructure improvements in the state throughout 2017, after completing $234 million of similar projects in 2016. Multiple projects will take place in several areas across the state to improve customers’ water and wastewater service. Aqua has detailed its planned spending by operating division.$221 million will be spent in its Southeastern Pennsylvania operating [...]

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Bose Knows You Listen to Spice Girls, and It’s Allegedly Selling That Info

We’ve covered class-action lawsuits involving vibrators and televisions spying on users, and now another company is accused of illegally collecting user information.

A class-action lawsuit filed in Illinois against Bose claims the audio company’s headphones have been collecting user information without permission.

The lawsuit says that plaintiff Kyle Zak registered his new headphones to the Bose Connect app, which allows you to wirelessly control the settings on paired devices and share music with other users.

The suit claims that Bose then began collecting specific information about Zak’s usage habits and shared the information with third parties without his consent. The lawsuit lists the collected data as names of audio files and music titles.

Who Cares if Someone Knows What Music I Like?

The lawsuit says that an individual’s audio selections “provide an incredible amount of insight into his or her personality, behavior, political views, and personal identity” and that collecting such information without someone’s consent violates their privacy.

The suit cites these examples: If a person is listening to the “Ashamed, Confused, And In the Closet” podcast, it could indicate that they are “a homosexual in need of a support system.” It’s “very likely” that someone listening to The Body’s HIV/AIDS podcast is living with the illness. And someone who listens to Muslim prayer services through Bose’s headphones or speakers is probably Muslim.

The examples show there’s so much more personal info at stake than just what songs people like.

The lawsuit accuses Bose of violating the Federal Wiretap Act, which prohibits the interception of communication; the state of Illinois’ eavesdropping statute, which protects individuals from third parties intercepting private electronic communication; and multiple other laws.

Headphones listed in the lawsuit included the QuietComfort 35, SoundSport Wireless, Sound Sport Pulse Wireless, QuietControl 30, SoundLink Around-Ear Wireless Headphones II and SoundLink Color II.

The lawsuit doesn’t specify how much Zak is seeking, but it says that the “amount in controversy exceeds $5,000,000.” The suit also demands that Bose halt all data collection.

This lawsuit is still in its early stages, but we’ll update you about any developments.

Your Turn: Do you own any of the Bose headphones listed in the class-action lawsuit?

Kelly Smith is a junior writer and engagement specialist at The Penny Hoarder. Catch her on Twitter at @keywordkelly.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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The Pros and Cons of Using Income Share Agreements for Personal Loans

You may have heard this term floating around: income share agreement.

Most likely — if you’ve heard of it — you’ve heard of income share agreements as an alternative way to pay for college.

More likely? You haven’t heard of them at all. And there’s a lot to learn.

Income share agreements have gained popularity in recent years as a way to avoid massive student loan debt.

Students can make an agreement with funders to cover the cost of their education. In exchange, students agree to pay a fixed percentage of their income after graduation for a number of years.

In this form, borrowers and lenders are basically gambling on the success of the borrower’s education.

But it’s not just for student loans: Income share agreements for personal loans are making their way into the market.

Align is a company that offers income share agreements for anything from consolidating debt to paying a medical bill to planning your wedding and describes them like this:

“An Income Share Agreement (ISA) allows you to receive money in exchange for a percentage of your future income, for a set period of time.

“It’s similar to a personal loan, but your payments, since they are pegged to your income, are more flexible and can go all the way to zero if you become unemployed.”

How Income Share Agreements Work

Unlike a loan, your ISA payments to a lender aren’t based on repaying a principal (the original amount borrowed). Instead, you pay the agreed percentage of your income for the agreed number of years — and the lender earns their money back (plus some) or not.

For students signing up for an ISA to pay for school, the agreement can be risky or beneficial for both the borrower and lender.

If the borrower gets a high-paying job after graduation, they’ll pay a lot back. It could cost more than traditional student loans. In the student’s favor, though, if they remain unemployed or earn very little, they’ll pay less back — maybe even less than the amount of the loan.

Income share agreements for personal loans are significantly less risky on both sides.

The scale and terms of these agreements make them less dramatic than those that pay for college. The max you can borrow through Align, for example, is $12,500. The most you can pay is 10% of your income (usually less) and the longest term is five years.

The other major difference is you have to be employed full-time to qualify for an ISA with Align. You’re not gambling on unknown future earnings. You’re working with what you have now — and leaving room for surprises in the future.

And of course, you can use the money you borrow for anything, not just school.

How Much Do Income Share Agreements Cost?

Unlike a traditional loan, you’re not paying interest. The amount of money a lender makes off your income share agreement is based on how your income fluctuates over time.

A Purdue University program launched last year for students caps payments at 2.5 times the initial loan amount. Even if you make a hefty salary, you’d stop paying once you hit that mark.

For its personal loans, Align says the percentage you’ll pledge “will vary based on factors like the amount of money you need, the length of your contract, your income level and your creditworthiness.”

Align’s loans don’t come with a cap, but borrowers can buy out their contract for a fixed lump sum any time. It’s a safeguard to keep you from drastically overpaying if your income significantly increases. The buyout starts less than the loan amount and is reduced each month as you keep making payments.

For example, say you borrow $5,000 from Align to buy a new (used) car.

If you work full-time for a $40,000 salary, and you pledge 5% of your income for three years, you’d pay $6,000 — $167 a month.

But maybe after two years (you’ve paid $4,000), you get a new job with a $60,000 salary.

You could keep your ISA, pay $250 a month and fork over a total of $7,000 — $2,000 more than your original loan!

Or you could buy it outright for the lump sum and pay less.

Benefits of Income Share Agreements

Depending on your credit history, qualifying for an income share agreement might be easier than qualifying for a traditional loan. It could also be cheaper long term and/or more affordable in the short term.

Whether you borrow to pay for tuition or want to take out a personal loan for something else, your future income determines whether an ISA is right for you.

If you’re employed full-time at a local newspaper, for example, an ISA could be more attractive than a traditional loan.

The instability of the industry could mean frequent job (and salary) shifts for you in the near future — and maybe even an unexpected layoff. Your payments would fluctuate with your changing salary, so they’d be easier to keep up with than traditional loan payments.

If you’re an engineer and have decent credit, you’ll probably get a better deal with a traditional loan. The high demand and high salaries in your field mean you probably won’t have to worry about affording monthly loan payments.

Either option is subject to a ton of variables, so run some scenarios for your own situation before making any decisions.

One benefit of income share agreements you won’t get from traditional lenders is their investment in your success.

Referring to ISAs that pay for college, Investopedia explains, “Because lenders have a vested interest in the student’s future, ISAs will offer mentoring and advising services throughout and after school.”

Align makes a similar commitment to personal loan customers who become unemployed. “We have a financial stake in your success, so we have a variety of services to help you get back on your feet, including resume review and career search assistance.”

Traditional lenders don’t give a hoot what happens to your job, so this investment is a welcome relief!

Drawbacks of Income Share Agreements

“The skeptics of income sharing often compare the concept to indentured servitude,” Investopedia says of students betting on future income.

That’s an extreme criticism, but the worry is valid: You run the risk of forfeiting a lot of unnecessary money if your income increases quickly.

But some safeguards are in place to make it far less binding than being an indentured servant.

Purdue’s 250% repayment cap isn’t amazing, but at least it exists to protect graduates. Align’s option to buy out a contract for a lump sum means if your income increases, you can end your agreement and keep your shiny new salary for yourself.

Income share agreements are a relatively new practice in the U.S., so skeptics are keeping an eye on their development.

In the meantime, we’re happy to see a new option for borrowers.

As finance writer James Surowiecki wrote in “The New Yorker” in 2013, when lender Upstart had just started making income share agreements for small business startups:

“The old way of borrowing was predicated on a world in which the job market was stable and everyone had a steady income. That world of work is changing. The way we finance it needs to change, too.”

Your Turn: Would you apply for an income share agreement instead of a traditional loan?

Disclosure: This post includes affiliate links. Adding these links helps us keep the lights on in The Penny Hoarder HQ, which makes it a lot easier to play shuffleboard after a long day of deal-seeking!

Dana Sitar (@danasitar) is a senior 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, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Weatherly fighting state move to ground electricity sales revenue

HAZLETON (TNS) — Weatherly officials like to use proceeds from the borough's electric company to help fund their government.So they are opposed to a move in the Pennsylvania Legislature to limit how funds from municipally operated electric systems — like the one the borough has — can be used.Monday night, council voted unanimously to adopt a resolution in which the borough expresses its opposition to recently proposed legislation "on the basis that it [...]

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Some Thoughts on Impractical Urges on the Path to Financial and Professional Success

Recently, Ayana Mathis published a wonderful article entitled On Impractical Urges. The focus of the article was squarely on the “cult of success” in America and whether or not a person’s background can alter their path to realizing their ambitions, even to the point that a person’s background can prevent them from even recognizing that it’s possible for them to have big ambitions.

“We have a cult of success in America. We believe that if we just work hard enough, we will achieve. It is certainly better to hold these beliefs than a fatalist vision of the world in which fortunes are determined entirely by factors outside of oneself (social position, nepotism, economic status, etc.). Nonetheless, there is something naive about our way of looking at things, and cruel too, in the way children can be cruel because they are too young to have anything but an absolutist vision of the world. It isn’t always true that failure has direct correlation to insufficient grit or ambition. […] The humbling, and unsettling, reality is that all obstacles are not surmountable. And in any case, is the sole objective of our lives the surmounting of obstacles so that we can come in first, like dogs in a race? This seems an impoverished vision of our human experience, more tragic and empty than any failure could ever be.”

Ayana was lucky. She was able to get past some challenges thanks to what seems like a wonderfully supportive family and a few key mentors. I, also, was quite lucky; I was able to get past some challenges thanks to a supportive family and a few key mentors.

In both of our cases, though, the path to our eventual destiny wasn’t very clear as we were growing up or even in our young adulthood. Many of the things that we eventually wound up aiming for were, at their start, impractical urges.

I look back at the 12-year-old me, carrying around a loose leaf notebook in which I found myself constantly adding to a horror novel, one that started off as a paragraph and wound up growing to incorporate all of my nightmares. The simple idea of this was an impractical urge. The adults in my life worked at one factory or another (when they weren’t laid off) or worked at a soul-numbing job in law enforcement – that is, if they worked at all. The other children played sports and, even at the age of 12, snuck off behind the school to drink and smoke. The idea that I would do anything with my life other than get a job for an hourly wage as soon as possible seemed utterly impractical.

“It’s like this: A door opens, perhaps just a fraction of an inch. There’s no telling if the door will open at all, or for whom, but if it does, you push push push until it is wide enough for you to squeeze through.”

I look back at the 18-year-old me, wandering alone across a college campus, completely baffled by the turn of events that led me there. A pair of scholarships fell out of the sky onto my lap, hoisting me out of my hometown and into a college environment, something that seemed beyond impractical just a year before.

What were my grand ambitions? I still didn’t have any. I majored in a field that seemed safe, one that seemed like it might lead to a job that made sense within the context of how I grew up. All other paths seemed impractical.

I paid for the first few years with scholarships, then the last couple out of pocket, without even really considering other routes. Why? It seemed like the practical path. All other paths seemed impractical.

After that, I mostly just focused on my main career. I didn’t really have any side gigs for a while, even though I had some ideas. They seemed impractical. I still wrote sometimes, but it seemed really impractical. I thought about getting in better financial shape, but spending money while I had it seemed like the practical thing to do.

I had impractical urges. I had impractical dreams. But I did what seemed to be the practical thing.

“Now we have arrived at the heart of the matter: the legitimization of desires. In order to write the novel, I’d had to first acknowledge that I wanted to write it, that I could and would write it. Why had it taken nearly forty years for me to understand that I had the right to my ambitions?”

It took most of a decade and a long stream of thoughtful mentors for me to realize that I actually controlled my life, that I didn’t have to follow the path of anyone else, in my finances, in my career, in my personal choices, in anything.

Being frugal seemed wholly impractical for someone in their twenties trying to launch a career. Being more responsible with my spending seemed wholly impractical for someone who was trying to seem “successful” to his friends and family. Investing a lot of money on side gigs, especially things like writing, seemed wholly impractical for someone trying to build a strong career in a completely different field.

Yet those urges kept pushing toward the surface.

The practical thing to do would have been to just follow the same path that others were on, to spend almost all of the money I earned, to buy the most expensive house I could afford, to buy or lease a constant run of shiny new cars, to throw myself deep into my career until I was either completely miserable or forced to change direction or (if I was really lucky) stumbled into something that clicked with me, to walk a financial tightrope, to have very little savings for the future, to look like I was successful to everyone taking a passing glance at my life even if I wasn’t. The practical thing was to go home dead tired every day and spend a few hours watching television or reading an endless flood of websites.

That’s what seemed practical, anyway. It’s what everyone else did.

The impractical thing was to buy a less expensive, smaller house. The impractical thing was to stop buying unnecessary stuff and to work to cut off my urges to buy such things. The impractical thing was to stop worrying about what other people thought of me and worry instead about what I thought of me. The impractical thing was to drive older cars (unless I absolutely had to). The impractical thing was to spend my evenings building a side business instead of watching television or going out.

That’s what seemed impractical, anyway. I knew almost no one who did those things.

Yet, over time, things shifted. I found myself doing more of the things that once seemed impractical, simply because they started to feel like the right thing to do. The list of homes we were looking at gradually fell in price until we wound up buying a house that cost half as much as the houses we were initially looking at, even though at first this seemed like were intentionally choosing to look at dumps. I stopped buying the latest gadgets and the sharpest clothes and I gave up on trying to “keep up” with coworkers, even though this felt really impractical for my career at first. I bought a used car off of Craigslist, which caused every “this is impractical” sense that I had to start tingling. I started spending evenings doing things like trying to improve myself or trying to start a side business or getting involved in the community, which seemed really odd when people were talking about last night’s shows around the water cooler.

Those changes seemed really impractical and even nonsensical at first, something that I really struggled to make sense of. Why was I suddenly starting to feel like these impractical things were the right thing to do?

I actually think I can pinpoint it down to one real shift in my thinking. I began to put a lot more importance on the long term rather than the short term, especially in terms of what made practical sense in terms of how to use my money and time and energy.

For the first three decades of my life, most of the things I did were done with a perspective that barely stretched past the next few weeks. If you take that perspective, most of what I did at that time made practical sense.

If you really don’t place much value on what happens to you beyond the next few weeks, why wouldn’t you spend everything you bring in? That’s honestly the sensible response in that situation. There’s no point in having money just sitting around if everything beyond the next month doesn’t matter at all.

If you really don’t think beyond the short term, the best way to appear successful in the minds of others is to buy status symbols – nice clothes, nice gadgets, nice cars. They are very effective at creating a short term impression of success. What creates a good long-term impression? Character. However, if you’re simply ignoring the long term, then it’s the short term things that seem practical.

If you really aren’t considering your long term life, then getting the biggest mortgage you possibly can for the biggest house that a bank will let you have is the smart choice. After all, you get to live in a gorgeous house – for now. The fact that enormous bills are going to roll in for the next thirty years or more – mortgage, insurance, property taxes, probably a homeowners association bill, huge utility bills – doesn’t really matter too much if you’re barely looking beyond the next month or two. What’s the best long-term solution? Buying a smaller home that you can easily afford. However, if the long term doesn’t matter much to you, the giant home seems like the more sensible option.

I can go on and on like this. Almost every significant use of time and money and energy during the first few decades of my life was tied to looking at things in the short term above all else. Things that maximized the short term seemed practical. Things that maximized the long term seemed impractical. When I felt the urge to do things that would take care of the long term – things like saving for retirement or writing or working on a side gig – they seemed like massively impractical urges and it took a lot of cajoling and reflecting to make them happen.

My idea of practical urges and impractical urges were entirely based around a short term perspective, one that was built into my head all throughout my childhood. As I was growing up, almost every adult example that I had in my life revolved around that kind of short term perspective. Everyone lived paycheck to paycheck. Everyone drove the nicest vehicles they could possibly afford, even if the payments were incredibly painful. Everyone invested tons of money in various visual status symbols, often oriented around hunting gear. People took their jobs seriously only if they saw a direct line to a promotion that could happen pretty quickly; otherwise, they slacked off. College’s only purpose was to get a better starter job and you really didn’t worry much there beyond the party coming up the next weekend. Anything long term was basically viewed to be completely impractical. No one saved for retirement. Almost no one had a real emergency fund.

Later on, though, starting sometime around the end of my third decade of life, that whole perspective began to shift for me. I began to look at everything in terms of how it would affect my life far into the future.

How could I build a long-term career that I really wanted to be doing twenty years from now? I could push through a miserable job if I never thought about the future, but the idea of being in an unhappy position for a long time seemed even worse. Thus, I started investing real time into side gigs that seemed enjoyable and some of them clicked. One of them – this very site you’re reading – wound up becoming my primary job. I’m genuinely happy (most days) to get out of bed and work on the latest challenges and I enjoy thinking about things far down the road. I stopped thinking about getting through today’s work and started thinking about meaningful work over the next ten or twenty years.

How could I build long-term relationships in the community? Flash might build short-term relationships, but long-term ones were built over time with strong character, so I began to value character over keeping up with the Joneses.

How could I raise my children to adulthood and not just take care of them for the next few weeks? I can easily get through the day with shouting and demands to get what I want in the short term, but to build my children into strong long-term people requires completely different approaches. I began to value building my children into strong adults over simply getting through the momentary parenting struggles.

As that change in values occurred, so did my sense of what urges seemed practical and which ones did not. It began to seem practical to spend less than I earned. It began to seem practical to build long-term relationships with people based on lots of real interactions and conversation rather than impressing them with a bit of flash. It began to seem practical to invest the time and energy to teach my children how to deal with their impulses rather than to push through a difficult moment. It began to seem practical to save for retirement. It began to seem practical to spend my evenings working on a side gig that I loved rather than watching the latest episode of The West Wing (not that there’s anything wrong with The West Wing).

In other words, as I recalibrated my values, my sense of which urges made sense and which urges did not began to change significantly.

Why did that radical shift occur? There were a number of changes that seem clear in retrospect.

First, I had a few really thoughtful mentors. These men and women came from very different backgrounds, different religious traditions, different nationalities, and had different expertise than I did, but all of them took the time to sit down with me and talk about the future and impart some ideas that served as food for thought for me. Their advice nudged me toward thinking about things in a different fashion and gradually led to a shift in perspective. Some of that value shift resulted from meaningful conversation from people I respected who took the time to talk to me and listen to me and share their wisdom.

I had children, which is itself a very long term commitment. It did not take me long to realize that short-term solutions rarely work well with children. Their interpretation of events is far different than mine; they interpret my short-term solutions to challenges as the most efficient ways to get what they want from life, for example. If you want your children to mature, you have to think long term with them or else the same challenges keep coming up again and again and again. The easiest short term solution is almost always a disaster in the long term when parenting and you’re almost forced to see it. When you begin to see it in one area of life and then start reflecting on other areas, that same pattern comes up again and again.

I started having long discussions about the future with my wife and, to a lesser extent, my closest friends, spurred on by those mentors and the birth of our children. Ideas that were once vague dreams began to be discussed in terms of what could be done to make them actually work. Things that didn’t help those dreams to occur were roundly criticized and taken apart. I began to really see how the short term actions I was taking were actually working against the long term goals that I was developing – raising independent and resourceful children, having a meaningful career, having strong lasting relationships with people that I could rely on over the long haul, and so on.

Before long, my short-term urges began to seem like the impractical ones, while the ones with a long-term focus began to seem practical. I honestly began to judge things not in terms of how the choice made today better, but how it would make my life (and the lives of those around me) better down the road. This is true for money decisions, career decisions, interactions with others, how I spend my time, and on and on and on.

The truth of the matter is that we all operate based on urges, and some of those urges feel more practical than others. That sense of what’s practical is based upon our values, and we can only really change those values with a lot of reflection and consideration. It is nearly impossible to find success when the instincts and urges that would lead you to success feel naturally impractical. You can go against the grain sometimes and force it for a while, but there will eventually be backlash.

So, what’s the take home advice in all of this? I’ll point to two things.

First, in whatever area you want success in your life, spend time regularly thinking about what you need to be doing today to make that happen down the road and about the things you’re doing that are working against that succes. Think about this, consciously. Talk about it with the people around you. Evaluate all of the things you find yourself doing, consciously or unconsciously, and ask yourself whether or not those things are really guiding you to where you think you want to go. If you find that you have this big goal in mind but your urges are pushing you elsewhere, then there is a disconnect somewhere, one that you’re going to have to resolve before you start really moving toward your goal. For example, if you think you’re committed to early retirement but find yourself constantly spending money on needless stuff, there’s a disconnect between your considered goals and your instincts and urges. You’re going to have to correct the things that are pushing those urges, and that takes a lot of time and a lot of reflection. There is no magic switch.

Second, at the end of each day, spend some time before bed thinking about the day that passed and whether you did things in accordance with what you want out of life. What did you do that was really in line with your big dreams? What did you do that didn’t help it at all? What can you do tomorrow to nudge yourself in a better direction? This type of constant, regular reflection and assurance that you’re actually working instinctively toward your goals is the single most valuable tool you have for getting your urges in alignment with your big picture. It’s not easy. It’s going to take a while. But it works. It shuts down truly impractical urges, elevates sensible urges that may seem impractical, and demotes those urges that seem practical in the moment but really aren’t. It’s a refinement of who you are, and it’s only through that kind of constant refinement that you can achieve the things you want to achieve.

Good luck.

The post Some Thoughts on Impractical Urges on the Path to Financial and Professional Success appeared first on The Simple Dollar.



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IKEA, Amazon and 7 Other Companies With Out-of-This-World Earth Day Deals

In 1970, a senator from the great state of Wisconsin decided that politicians and the media needed to pay more attention to the toll industrialization was taking on the environment.

That man was Gaylord Nelson, and he founded Earth Day.

Now, we celebrate the holiday every April 22 by planting trees, cleaning up local parks — and getting deals and freebies from other tree huggers.

We found nine deals to help you make the most of Earth Day 2017 this Saturday!

Earth Day 2017 Freebies

1. IKEA is hosting a “Sustainable Living Your Way” event April 22 from 9:30 a.m. to 6 p.m. with a bevy of promotions and discounts.

Stores will give away free two-packs of RYET 400-lumen LED light bulbs to the first 500 IKEA Family members in the door. All IKEA Family members will get free coffee, including specialty drinks.

2. EVOS will give away free organic milkshakes April 22 to celebrate its commitment to organic family farmers and sustainability.

3. Cult of Mac wants to put an extra $10 in your pocket this Earth Day. Now through April 22, trade in any Apple product, and it’ll give you an extra $10 on top of your normal buyback price when you use the coupon code “earthday.”

This is probably your cue to get rid of that iPod Nano hiding in the back of your junk drawer.

Earth Day Deals

4. Rockler Woodworking and Hardware stores are real tree huggers! April is also National Woodworking Month, and this national retailer is celebrating with giveaways, weekly make-and-take events and a spring clearance sale through April 22.

Rockler is also partnering with the Hardwood Forestry Fund to support forest restoration. It will match private donations of up to $15,000 throughout April.  

5. Amazon is offering 20% off its Warehouse Deals merchandise through April 22. Warehouse Deals are bargains on returned, warehouse-damaged, used and refurbished products.

6. Target is honoring Mother Earth with a nationwide car seat trade-in. Bring your old car seat to any Target through April 30, and get a coupon good for 20% off a new car seat good through May 31.

7. Whole Foods will host a one-day sale on organic produce April 22. Customers will receive $5 off any organic produce purchase of $25 or more.

Many stores are hosting their own Earth Day events, including free yoga, recycling drives and educational activities for kids, so check your local store to see what’s happening.

8. Natural Grocers is promoting earth-friendly food producers with a three-day event April 21-23. When customers visit the store, they can take advantage of deals on products from featured vendors and pick up a free reusable bag.

9. Earth Origins market will offer 25-cent savings for each reusable bag you use when shopping April 22. Paper and plastic bags do not qualify for this discount.

Your Turn: Do you know of any other Earth Day deals or freebies? Let us know!

Jen Smith is an editorial intern at The Penny Hoarder and the blogger behind @SavingwithSpunk.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Amazon is Hiring Work-From-Home Customer Service Associates in 24 States

In its quest for world domination (just kidding — although maybe not), Amazon is hiring once again.

The company is currently looking for remote customer service associates to work part-time flex positions (meaning you’ll flex your schedule to meet the needs of Amazon shoppers).

Before we dive in, though, you should know that Amazon is only considering applicants from these 24 states: Arizona, Colorado, Connecticut, Illinois, Indiana, Florida, Georgia, Kansas, Kentucky, Maryland, Michigan, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia and Wisconsin.

(And if you’re wondering why Amazon always has such specific state requirements, it has something to do with work space regulations and employment tax laws.)

What’s Involved With This Amazon Customer Service Job?

As a customer service associate at Amazon, you’ll connect with customers via chat, phone or email in an effort to provide world-class customer service. (Arguably the best on Earth, or so they say!)

This job pays $10 per hour during training, but then jumps to $12 per hour at the beginning of the next payroll period. Training lasts for four weeks and you must be available to work at least 25 hours per week during that time.

After training, the average employee in this position works 20-29 hours per week, with the potential for more hours during peak times.

Scheduling is determined through shift bids, which take into account each employee’s experience, performance and business needs. Schedules include morning, afternoon and evening shifts, along with weekend days, but will change frequently.

During peak seasons, you may be required to work up to 40 hours per week and on holidays.

If you’re a student, the company says it will do its best to work with your school schedule.

Requirements for This Work-From-Home Job

You’ll need to meet the following qualifications:

  • Must have a high school diploma or equivalent
  • Must be fluent English language, both written and verbal
  • Must be able to multitask and navigate the internet, including email and messaging tools
  • Must be able to fill out I-9 work authorization paperwork in person

Bonus points if you have:

  • 1+ years of experience in a service environment
  • A typing speed of 45 words per minute
  • Effective communication skills, good judgment, and the ability to anticipate customer needs and solve problems under pressure

There are also some basic computer requirements, but you can learn about those here. Once you’re hired for the position, Amazon will send you a headset to use on the job.

Part-Time Associate Benefits

Even part-time associates get some pretty sweet benefits at Amazon, including a medical, dental and vision plan (after 90 days), accrued vacation time and a 401(k) plan with a company match.

If a flexible, part-time schedule from the comfort of your own home sounds like a good fit for you, go here to check out the full job listing and apply.

And if you want to see more awesome work-from-home opportunities like this one, make sure to like The Penny Hoarder Jobs Facebook page.

Your Turn: Are you patient enough to work in customer service?

Grace Schweizer is a junior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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6 Everyday Items You Can Get Paid to Recycle

Why toss things in the trash when you could repurpose or recycle them?

April 22 is Earth Day, and one great way to celebrate is by recycling items you might usually throw away.

In addition to diverting items out of the waste stream and keeping them out of landfills, you could also make extra money or help out worthy causes.

From scrap metal to ink cartridges, bullets to construction materials, you can recycle a huge variety of items in exchange for cash or goodwill.

Ready to see how recycling can pay off for you?

Find a Collection Point

Though some recycling centers are closing, you can still find places to recycle a wide variety of items for cash.

To find a recycling center near you, head over to Earth911.com and plug in the item you’re looking to recycle as well as your location. The site lists collection locations for everything from antifreeze to ammunition.

Of course, you won’t get paid to recycle everything, but it’s important to properly dispose of potentially hazardous items.

Prepare Items for Recycling

Check with your local collection point to see whether you have to prepare your recyclables for the collection center in any specific way.

Some centers require you to remove bottle caps, rinse and bag bottles in certain increments, or sort and tie together cardboard. Check the rules before you go to save time later on.

Be sure to properly bag items that may make a bit of a mess. Even if you thoroughly rinse all your bottles and cans, there might be a bit of water and other residue on them; transport them in bins or bags to protect the interior of your car.

If you’re donating a cell phone or other electronic item, be sure to clear your personal information from it, including contact lists, voice mails, text messages, photos, passwords, downloads and anything else you wouldn’t want random strangers to access.

Back up your information on your new phone, your computer or a cloud-based service, then restore your phone to factory settings before recycling it.

What to Recycle for Cash

Depending where you live, you can get paid to recycle certain items.

Here are some common options and how to recycle them.

1. Scrap Metal

Scrap metal is one of the more profitable materials to recycle. For this reason, scrap metal theft is not uncommon and even community recycling dumpsters have been raided in search of the metal.

Many local recycling programs fund their programs through scrap metal collection, so be sure to check your local rules or laws about collection.

Copper, steel and aluminum are just a few of the scrap metals you can recycle for money. Google your local area and “scrap yard” to find a local scrap yard that may take whatever metals you have.

Once you’ve rounded up your metal, find out if it’s ferrous or non-ferrous by seeing if a magnet sticks to it.

If it does, the metal is ferrous and likely a common metal like steel or iron. These items typically aren’t worth that much, but it’s still important to recycle them.

If the magnet does not stick, you likely have copper, aluminum, brass, bronze or stainless steel on your hands. These metals are more valuable.

You can make money recycling a variety of these metals. Be sure to contact your local scrap yard to see what it accepts and learn its procedures for drop off.

2. Bottles and Cans

One Penny Hoarder writer made $1,500 cashing in soda cans he collected at work. You, too, can make money by rounding up bottles and cans, whether from work, friends and family, at events or just your own home.

California offers 5 cents for most plastic and glass bottles and aluminum cans smaller than 24 ounces, with 10 cents for 24-ounce or larger containers. It’s technically a bottle deposit, but many people don’t bother to collect their refunds, so it’s easy money for bottle and can collectors.

Michigan has a 10-cents-per-bottle recycling rate, which has prompted people to illegally smuggle in empty bottles purchased out of state to cash in — this was even the plot of one “Seinfeld” episode.

Many states have a deposit or pay for recycling cans and bottles, so be sure to check your local area for rates.

3. Car Batteries

Advance Auto Parts offers a $10 store gift card to customers who bring in their unwanted used car batteries (light-duty truck batteries are also accepted).

If the company doesn’t have an outlet near you, call your local auto parts stores to see whether it offers a similar deal.

Some scrap metal yards test and sell used batteries they collect, though this price can vary widely.

4. Ink Cartridges

A number of office supply stores, including Staples and Office Depot, accept used ink cartridges for recycling. Staples offers $2 back per cartridge, with a maximum of 20 returns per month, though you do have to spend $30 on ink there over the previous 180 days.

Office Depot offers 200 points for up to 10 cartridges a month, but you must also make a $10 qualifying purchase during that month. Most in-store and online purchases count, but certain exclusions (such as gift cards and postage) apply.

There is no limit on the number of cartridges you recycle, but you will only receive points on the first 10 per month. You can use your points toward a number of different perks and discounts.

5. Electronics

Eco-Cell is one of many companies offering cash for old cell phones and other electronics. The company accepts working or broken phones, tablets, rechargeable batteries, circuit boards and a variety of other electronics.

Even if an item is broken or was submerged in water and is now unusable, Eco-Cell will accept it. The company wants to divert these electronics from landfills and properly dispose of the toxic components and metals in each item.

While it doesn’t list its prices, Eco-Cell does offer a revenue share on the items, and its FAQ recommends calling in for a quote.

Many cell phone providers, including Verizon and AT&T, have trade-in programs where you can receive a voucher, gift card or other reward for turning in your old phone. Amazon Trade-in could also help you earn gift cards.

A number of charities also accept cell phones, whether to re-purpose the phones or use the funds from their recycling to benefit others. HopeLine has donated 180,000 phones to domestic violence victims and survivors. Cell Phones for Soldiers will refurbish and sell your old phone to active-duty military members and veterans.

If a phone is too old or broken, Cell Phones for Soldiers sells it to recyclers who strip it for parts and dispose of its metals responsibly. The proceeds from the sales go to purchase international calling cards for troops and “provide emergency financial assistance to veterans.”

And of course, you could always sell your old phone yourself.

6. Quirky Recyclables

When you think of recycling, you probably think of bottles and cans. But you can recycle weird items ranging from wine corks to food packaging, too.

Look around and see what you may be able to cash in on!

Your Turn: Do you recycle items in exchange for cash or other benefits?

Disclosure: You wouldn’t believe how much coffee The Penny Hoarder team goes through. This post contains affiliate links so we can keep the grinds stocked!

Kristen Pope is a freelance writer and editor in Jackson Hole, Wyoming.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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