Measuring Career Satisfaction Using Buckets
When someone asks if you’re happy in your job, the answer is generally “yes” or “no” after a short pause.
But something very interesting happens in between the question and the answer.
During that brief moment, your brain goes through an assessment to: compartmentalize, weight, and rank all aspects of the job which are most/least important to you. Your job satisfaction is then determined from the aggregate sum of these parts.
Imagine a set of 4 or 5 buckets. Each bucket has a label representing a desired job characteristic. There’s no set combination of buckets or labels – it’s entirely up to you. Just don’t end up with 10 buckets because then you dilute the importance of each. The labels could be anything: social impact, impressing the opposite sex, compensation, contribution, entertainment, work/life balance, ethical practices, whatever would constitute your “dream job”.
Once your satisfaction has been broken down into the buckets, it’s time to re-size them. Think about what’s most important. Determine how heavily each one weighs on your happiness. This will be a very personal process and different for everyone, which is why there are well-paid bankers who overlook their long hours or not as well-paid non-profit employees swelling with pride from their sense of purpose.
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Mortgage Rates Still Low Despite Speculation
As different facets of the economy continue to show slow improvement and there is an expectation of rising loan rates, current mortgage rates are still low despite speculation. FreeRateUpdate.com’s daily survey of wholesale and direct lenders show that conforming mortgage loans and FHA mortgage loans remain under 5% and jumbo mortgage loans are under 6%. These mortgage rates are still very attractive and very affordable when combined with current low home prices.
Current conforming 30 year fixed mortgage rates are at 4.750%, 15 year fixed mortgage rates are at 4.125% and 5/1 adjustable mortgage rates are at 3.250%. Conforming fixed rate mortgages offer consumers the security of mortgage payments that remain the same for the life of the loan. Available with 0.7 to 1% origination fee, these are the best mortgage rates accessible to borrowers who have maintained good credit and meet lender guidelines.
FHA fixed mortgage rates continue to be slightly below conforming fixed mortgage rates. FHA 30 year fixed mortgage rates are at 4.625% and FHA 15 year fixed mortgage rates are at 4.000%. FHA 5/1 adjustable mortgage rates are at 3.625% which is .375% above conforming ARM loan rates. FHA mortgage loans offer borrowers several benefits including a low down payment requirement. Easier credit qualifying guidelines continue to draw borrowers to FHA mortgage loans making them today’s most popular mortgage product. On the other hand, the disadvantages to FHA mortgage loans are the higher FHA closing costs (APR) borrowers must pay due to various FHA fees and the upfront mortgage insurance premium. Effective April 18th, FHA will also implement a .25% increase to the annual mortgage insurance premium for 30 year and 15 year mortgage loans.
Jumbo mortgage rates also continue to be very attractive for the high end borrower. Current jumbo 30 year fixed mortgage rates are at 5.500% and jumbo 15 year fixed mortgage rates are at 5.250%. Jumbo 5/1 adjustable mortgage rates are at 4.125%. Jumbo mortgage loans are used for financing above the conforming loan limit which is $427,000 and $729,250 depending on the property location. Borrowers with outstanding credit can still secure these low jumbo mortgage rates with 0.7 to 1% origination point.
MBS prices (mortgage backed securities) drive mortgage rates up and down, but rates go in the opposite direction of MBS prices. This past week, MBS price fluctuations resulted in a decrease of .125% for the conforming 30 year and 15 year fixed mortgage rates on Tuesday. This did not produce the same result for FHA mortgage loans which remained the same and jumbo 15 year mortgage rates which increased .250% to bring it to the current 5.250%. Following these changes, producer price index, consumer price index and housing starts were reported higher than expected which stabilized MBS prices and mortgage rates for the remainder of the week.
FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard .07 to 1 point origination.
Wedded Bliss and Taxes: How You File Will Affect How Much You Owe
“Wedded Bliss and Taxes: How getting married and how you file (jointly or separately) affects how much you will owe in taxes” is a guest post offered by H&R Block’s Leigh Mutert, CPA and hrblock.com Community Manager.
She’s also given us FREE copies of H&R Block Federal Premium Edition! It’s tax season time and who wouldn’t want something premium for free 
We’re giving away FOUR copies. To enter – Comment, Like, & Tweet this article! The winners will be announced on Sunday, Feb. 20th.
How you file can mean tax savings in your pocket.
Marriage means compromise. It means negotiation. It means having to decide a million things as a couple: where to live, when to have kids, how to juggle the holidays between all the in-laws.
Your status on the last day of the year determines your filing status for the entire year. If you’re married, you and your spouse can choose to file a joint return or file separate returns. Unless you are required to file separately, you should figure your tax both ways (on a joint return and on separate returns) to determine which filing status is best for you.
Most taxpayers claim the standard deduction — a fixed amount that reduces the income on which you are taxed. Here are the standard deduction amounts according to filing status.
- Single or Married Filing Separately: $5,700
- Married Filing Jointly or Qualifying Widow(er): $11,400
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Things to Consider When Getting a Second Mortgage
Second mortgages could really be tempting. If you need money and you already have an existing home loan, making a second loan using your home as a security could now be possible. Such loan products are getting more popular and more common. That is why many lenders and loan providers across Australia are offering such products.
There is nothing wrong about taking second mortgages. In reality, you could use the loan amount to make further investments or to add to your business capital. But there are still numerous pitfalls that you should avoid. There are numerous things you should always consider before and during filing of applications to take any of available second mortgages.
Interest rates
In general, second mortgages implement higher interest rates. This is logical because lenders are taking greater risks in providing such loans. If you would get into default on your loans, you are required to first settle your primary or first mortgage. Only after settling your first home loan would you be required to take care of the second.
Check the APR (annualised percentage rate) applied. It is advisable not to immediately apply for the second mortgage you find. There could be other second mortgages with lower APRs. As you perform a comparison before your decision, get quotes from several banks, credit unions, and dedicated mortgage lenders so you could logically find the best product there is for you.
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