How Stressful is Home Ownership VS. Rental Properties! Money Q&A
Jul 8, 2024
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Discover how stressful homeownership is compared to owning rental properties, along with tips on adjusting tax withholding and negotiating a flat rate salary. Learn about real estate investing, managing finances, tax planning, salary negotiations, and online personal information removal. Plus, get insights on leveraging achievements for a salary increase and protecting personal information online.
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Quick takeaways
Owning rental properties can be more stressful than owning a home due to increased workload and tenant management responsibilities.
Negotiating a higher salary in a nonprofit organization requires benchmarking standards, presenting achievements, and expressing value proposition with research backing.
Deep dives
Comparison of Home Ownership Stress vs. Owning Rental Property
Owning a rental property can be more stressful than owning a home due to increased workload and tenant management responsibilities. While home ownership requires self-directed maintenance and repairs, owning a rental property involves managing property managers and overseeing tenant issues and rent collection.
Salary Negotiation for a Promotion in a Nonprofit Organization
Negotiating a higher salary for a promotion in a nonprofit organization requires benchmarking industry standards, highlighting experience and achievements, and requesting a formal meeting with higher-ups. Express gratitude for the opportunity and politely present a value proposition, backing the salary request with research and achievements while being firm yet flexible.
Guidance on Adjusting Tax Withholding for Commission Pay
To adjust tax withholding for commission pay, utilize the IRS withholding calculator, separate commissions from regular salary for accurate estimates, and consider setting a consistent contribution rate for predictability. For high commission months, increase 401k contributions and ensure regular review of pay stubs and withholding.
Removing Personal Information from Data Broker Websites
To safeguard personal information, opt to remove data from top data broker websites like White Pages, Spokeo, BeenVerified, and Intelius. Utilizing services like DeleteMe can automate this process to protect against scams and maintain online privacy.
In this episode of the Personal Finance Podcast, we're going to do a Money Q&A about how stressful is homeownership vs. owning rental properties.
Today we are going to answer these questions:
Question 1: How Stressful Is Home Ownership?
Question 2: How do I adjust my withholding?
Question 3: How to Negotiate a Flat Rate Salary?
Question 4: 10 Websites that List your Personal Information
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