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Breaking News: Early Retirement Is Actually Pretty Great

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Breaking News: Early Retirement Is Actually Pretty Great

It’s been nearly four months since I left the Corporate Beast. I thought jumping back into writing blog posts would be easy with a sudden void in my calendar. It turns out there are lots of distractions as an early retiree, and it’s not all roses.

Despite some bumps in the road, the overall picture is very good so far. Early retirement does not suck, and I am enjoying the freedom to take on different challenges and focus more on areas that need attention.

What’s not to love? I no longer have to put on a show several times a day in meetings where little is accomplished or worse, acrimony spills out among peers who are overworked and unsupported by their bosses. I now have time to focus on the rental business, which is fortunate since maintenance tasks were piling up.

Still, there is a level of anxiety that hits you (unexpectedly), even after all of the prep work and spreadsheets that convince you NOW is the time to quit. Specifically, how will we replace our health coverage? Do we have the liquidity to handle big, unforeseen expenses? And the strangest of all: Why do I feel like a failure??

 

Unpacking the Goodness of Quitting Corporate America

It’s no secret that corporate jobs are among the least fulfilling, yet most financially rewarding gigs you can find. I’m incredibly grateful to have spent over 25 years chopping away in that forest. Met some good friends, had a few laughs, and made serious cash along the way.

What they don’t teach you in school are the coping mechanisms for surviving the constant churn and change that define publicly traded companies. “Strategic” decisions and direction are only “strategic” in PowerPoint slides.

In truth, especially in the health care services industry, strategy is spaghetti thrown at the wall and it looks really appetizing until it starts to ooze down, is then forgotten as it slides to the floor until a new batch of leaders picks it up, rinses it off, and hurls it again at the same wall to see if it’ll stick this time. (It won’t.)

That stuff gets old fast. And I don’t miss it. Sure, there were bursts of meaningful productivity during my tenure, but the amount of wasted “productivity” probably could have paid for a half dozen kidney transplants.

Now, what passes for innovation are platitudes about Artificial Intelligence and a return to command and control management. Good leaders were shown the door, and the ones that remain are at best, simply managers.

We could also dive into the silly return-to-office policies and what joys a daily commute brings, but I’ll be happy to work from the coffee shop or my humble home office from here on in.

 

Sleeping Bear Dunes

 

Taking on the Challenge of Getting a Real Estate License

This was perhaps the biggest distraction of all during my inaugural summer of freedom. A real estate salesperson license would offer all sorts of benefits to the rental business. I figured, what the hell? It can’t be that hard.

In fact, it’s borderline easy. The toughest part of getting certified as a real estate salesperson is sitting through 90 hours of on-demand material (much of it banal), and navigating the test proctoring process. As of yesterday, I knocked out the final test and checked off a nice achievement.

Why did I pursue this particular check box? I probably should have been in real estate all along, either in construction management, property management, architecture, etc. The way I drone on about it on this blog, clearly residential real estate is a passion of mine.

And that’s the beauty of early retirement with financial independence. You can switch gears and try something different without the fear of hitting skid row.

The key is to become even more useful and effective, absent the nasty side effects of “working for the man”. Part-time buying and selling houses while working towards a broker’s license will keep me engaged and generate extra income for giving.

(See, we don’t retire early to swing in hammocks and sip pina coladas all day. The world is on fire, in case you haven’t noticed. And our time and energy on this planet are more limited than we’d like to admit.)

I expect it’ll be fun to take a crack at buying and selling homes. I don’t expect a huge or steady paycheck since the competition is stiff. A local realtor recently said, “You can throw a rock and hit a realtor”. Okay – in truth, every realtor has said that…

Regardless of how many home sales I may or may not get to earn a commission from, the long view is to become a broker and build a boutique property management business. You could throw two rocks before hitting a property manager, no?

 

The Scary Parts About Retiring Early

Health care! Ack!!

Even though the Affordable Care Act makes things immensely more, well, affordable, moving away from a company-sponsored plan is still a scary thing to do. We landed on a $1,100 monthly premium for a Bronze HSA plan covering two adults and two kids. This is roughly what I budgeted for in the diabolical planning stages.

We still had to find a few new specialists and dentists that would be covered under the new plan. It’s not even a given that one’s meds will be covered the same as before. Fortunately, we were able to navigate most of these changes, but you could fill enough hours for a full-time job coordinating all of it.

(What we really need here, privileged people, is an early retirement concierge…)

On the health topic in general, my health took a minor hit this summer thanks to the anxiety caused by this bigly life change. Anxiety and stress from big life changes, even seemingly positive ones, are NOT fake news…

I want to blame some of this anxiety on my former employer’s management for their indifference when I announced my departure. It could be they were happy to see me go, despite the handsome bonus awarded to me a few weeks earlier.

Or, they were miffed that I announced my resignation just a few weeks after the bonus was deposited into my bank account. But I don’t think either of those is true. I did after all stick around for 3 months after submitting my resignation. I think it just boils down to human behavior and survival tactics in that awful corporate arena. Managers look out for themselves.

But as someone who managed (and LED) people for a good chunk of his tenure, I would’ve done more to acknowledge 17 years of service from one of my employees. If for no other reason than to be a good person, show goodwill, and avoid another negative promoter on the heap. Hell, I would have even done an exit interview, if it was offered. Alas…

 

Let Go, Oh Bitter Corporate Survivor!

Fortunately, the various inflammations from anxiety have abated in recent weeks. The completion of my real estate curriculum helped, as did a resounding bill of health at my annual physical. And no colonoscopy is due this year. That’s a whole other reason to celebrate!

So no, I don’t feel like a failure as that’s totally warped thinking. The company I worked for has struggled to move past its consulting eat-or-be-eaten DNA and retain quality leadership. Sometimes even a lucrative payday isn’t enough to keep you entertained. Where I might have failed is in the game of politics.

Knowing when to bend for the bad and perform to the hilt will get you very far in a corporate career. I just hope my kids never have to step foot in those same glass walls when their job search commences.

 

The Airbnb Skinny Cow

Finally, the summer has been a struggle for the so-called “Airbnb Cash Cow“. Revenues are down sharply (~25%) this year after stellar years in 2021-22. It’s a consequence of oversupply and inflation jitters. A lot of new hosts are jumping in since COVID, but it’s driving down bookings and creating a housing crisis for several markets.

I’ll write more about that situation in a future post later this fall. However, it is a contributor to anxiety when a key driver of post-retirement cash flow is on the decline.

But you know what? We don’t sit around and mope about it, we get busy and get shit done! That means new listing photos, a new pricing tool (PriceLabs), and investing in improved furnishings.

 

Airbnb beds

How Early Retirees Spend Their Free Time

I had an opportunity to meet up with my FIRE buddy Carl of 1500 Days to Freedom here in Minneapolis last month for a few beers. His perspective is always helpful (and I think his repeated visits to this great city hint at a future move…?)

We talked about Taylor Swift concerts and real estate, but the main takeaway for me is that THIS GUY IS BUSY. I have no need to worry about finding productive uses for my time now that I’m out of the corporate maze.

With colder months ahead and all that summer drama behind me, I hope to get back to a third or fourth reboot of this blog and build some consistency in my postings. Hope springs eternal. There is never a shortage of topics, just a shortage of motivation to write. C’mon, Cubert!

Stick with me – the ride is just beginning!

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Top Disputes Attracting attention from Activists and Private Equity Firms

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Top Disputes Attracting attention from Activists and Private Equity Firms

MRC Global (MRC) ($920MM market cap) is a global distributor of pipes, valves, fittings (“PVF”) and other maintenance products to gas utilities, industrials, and energy end markets. The market appreciates the MRO/distributor business model as many pure-play industrial distributors trade anywhere from 10-15x EBITDA. However, MRC Global historically focused on the cyclical oil and gas drillers and has mostly traded at a significant discount to other industrial distributors (currently, about 6x EBITDA). In the past decade, since the oil market broke in the mid-2010s, MRC Global has focused on diversifying out to adjacent but less cyclical markets like gas utilities, refineries (turnarounds/maintenance can only be deferred for so long), and energy transition projects (big beneficiary of the Inflation Reduction Act). But credit for this mix shift has been hard to come by in public markets as they continue to trade inline with more upstream focused NOW Inc (DNOW) (although NOW is debt free).

Historically, MRC Global has battled being overleveraged, after a couple strong years they’ve finally gotten that under control with debt/EBITDA roughly at 1x (if you count the convertible preferred as equity). This past spring, the company started the process to refinance their term loan that comes due in September 2024, however, a management described “business disagreement” with their convertible preferred shareholder (who filed a lawsuit attempting to block the refinancing) led them to pull the deal. The company does have ABL capacity to redeem the term loan when it comes due next year, although that wouldn’t be an ideal balance sheet outcome (interestingly, because of their liquidity, management has decided to account for the term loan as long term debt even though it matures in less than a year).

The convertible preferred is perpetual, pays a currently below market rate of 6.5% and has a conversion price of $17.88 (versus a current price of $10.88). The preferred holder is Cornell Capital, the namesake Henry Cornell was an original architect in rolling up distributors to what would become MRC Global while he was managing Goldman’s private equity business. From their amended 13D following the lawsuit, it is clear that Cornell wants to be cashed out:

The Lawsuit seeks, among other things, (i) a declaration that the Issuer’s contemplated refinancing transaction violates the Issuer’s corporate charter and (ii) an order to enjoin the Issuer from signing or executing any definitive documentation with respect to, or otherwise consummating, the Refinancing. While MI objects to the Refinancing as contravening MI’s rights pursuant to the Certificate of Designations, MI has indicated to the Issuer that it desires to negotiate a resolution acceptable to all parties. Such a resolution could, for example, involve the Issuer repurchasing the preferred stock held by MI in whole or in part for cash or potentially other forms of consideration. However, there can be no assurance that any such transaction will occur, or the terms of any such transaction.

With that in mind, in appears the activist fund Engine Capital which owns approximately 4% of the shares outstanding, in their quarterly letter, they outlined thoughts that MRC Global could be sold for between $14-$18/share. Now management is facing pressure from an upcoming loan maturity, a grumpy preferred shareholder, and an activist common stock investor. On Halloween eve, news comes out from Bloomberg News that MRC Global is exploring a sale after receiving interest from private equity firms. A buyout would come with a new term loan in place, liquidity for Cornell Capital, appease Engine and potentially achieve an equity valuation that MRC Global won’t in public markets.

Again, the closest peer is DNOW, although they’re far more exposed to upstream oil and gas, there’s a wide gap between where MRC and DNOW trade and other distributors. Given the leverage here through the preferred shares, a buyer only has to give MRC a little multiple expansion credit for the improved business mix shift for equity shareholders to do well.

At 7.5x EBITDA (forward estimate from Tikr.com), which admittedly is a multiple grabbed slightly out of thin air, you’re looking at about a $15/share target price, a nice premium to the current price. If a deal doesn’t happen, there’s not much, if any, premium really baked into the price. MRC Global is facing some covid hangover headwinds in their fast-growing (and the best segment) gas utilities business as their customers are destocking like many others after supply chain issues caused utilities to overorder in 2021-2022. But that segment has grown at a 10+% CAGR for a decade and should return to growth shortly. MRC has been a favorite pitch of those wanting to be long oil and gas, but in a more sensible way than owning the producers. If energy does rally, MRC should benefit along with it. In a way, it’s the perfect hated small-cap value stock.

Disclosure: I own shares of MRC

Government Receives Interest from 11 Firms for Port Project in Great Nicobar Island

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Government Receives Interest from 11 Firms for Port Project in Great Nicobar Island


The government has received expressions of interest (EOIs) from 11 players for the Rs 41,000-crore international transhipment port project at Great Nicobar Island in the Bay of Bengal, Union minister Sarbananda Sonowal said on Wednesday.


Last year, the Ministry of Ports, Shipping and Waterways in a statement said the project is expected to be completed with an investment of Rs 41,000 crore (USD 5 billion), including investment from both government and public-private partnership (PPP) concessionaires.


“11 players have submitted expressions of interest for the international transhipment port project at Great Nicobar Island,” the ports, shipping and waterways minister said.


The EOI was sought on January 28, 2022.


The proposed port in the Andaman and Nicobar Islands will have the ultimate capacity to handle 16 million containers per year, and in the first phase, to be commissioned by 2028 at a cost of Rs 18,000 crore, it will handle more than 4 million containers.


Other projects planned around the transhipment port include an airport, a township and a power plant.


The project is located on the international trade route, with existing transhipment terminals like Singapore, Klang and Colombo in proximity.


The project focuses on three key drivers, which can result in making it a leading container transhipment port — strategic location in terms of proximity (40 nautical miles) with the international shipping trade route, availability of natural water depth of over 20m and carrying capacity of transhipment cargo from all the ports in the proximity, including Indian ports, as per the statement.


The proposed facility is envisaged to be developed in four phases.


The estimated cost for Phase 1 of the proposed transhipment port is around Rs 18,000 crore, which includes the construction of breakwaters, dredging, reclamation, berths, storage areas, building and utilities, procurement and installation of equipment and development of the port colony, with core infrastructure going to be developed with the government support.


Public-private partnership (PPP) will be encouraged for this project via landlord mode. The PPP concessionaire will have the flexibility to develop a storage area, container handling equipment and other infrastructure based on the concessionaire’s own market and business assessment, subject to the minimum guaranteed traffic.


The concessionaire would be awarded a long-term PPP concession of 30 to 50 years (based on requirement), will be responsible for the provision(s) of port services and shall have the rights to levy, collect and retain charges from port users.


Currently, nearly 75 per cent of India’s transhipped cargo is handled at ports outside India.


Colombo, Singapore and Klang handle more than 85 per cent of this cargo, with more than half of it handled at Colombo port.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jan 03 2024 | 5:28 PM IST

The Bankruptcy of FTX Exchange: A Detailed Explanation of its Rise and Fall

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The Bankruptcy of FTX Exchange: A Detailed Explanation of its Rise and Fall

The FTX bankruptcy has made headline news both within the crypto industry and the broader news environment. This is a topic that has been generating a lot of buzz lately and for good reason. FTX Exchange was one of the biggest cryptocurrency exchanges in the world, and its bankruptcy has left investors reeling. In this article, we will explore what led to FTX’s downfall, and discuss what it means for the future of the cryptocurrency market.

The Rise of FTX and Alameda Research

To better understand the FTX bankruptcy in its entirety, it’s important to revisit the rise of these two companies as their relationship was inextricably tied. FTX Exchange was launched in May 2019 by Alameda Research, a quantitative trading firm founded by CEO Sam Bankman-Fried and CTO Gary Wang.

Early on, FTX positioned itself as a crypto derivatives platform offering traders access to popular crypto assets like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). This strategy allowed FTX to quickly become one of the larger cryptocurrency exchanges in the world. In July 2021, it had over one million users. This number was expected to grow as the firm began aggressively marketing FTX and launching new features, such as its FTX Token (FTT).

The FTX Token (FTT) will play a pivotal role in the collapse of this exchange and we’ll go over this in detail later on in this article. For now, we can explain FTX Token (FTT) as a cryptocurrency that the firm created to incentivize FTX customers by rewarding them with various benefits such as trading discounts.

Speculators bought the token believing that the value of the FTX Token (FTT) would rise in value as the exchange became more popular. The FTX Token (FTT) also had a burn mechanism where the founders were expected to reduce the supply of FTX Token (FTT) tokens as the months progressed, leading some investors to believe that the FTX Token (FTT) would become more valuable over time.

FTX and Alameda Research were able to rise quickly in terms of popularity and user base due to efficient marketing and the ability to raise capital seamlessly. During the crypto bull run of 2021 and early 2021, capital investments were easily accessible and as one of the leading crypto derivatives platforms, FTX was able to capitalize on this opportunity by raising hundreds of millions in venture capital.

Some can attribute the careless investing style of this frenzied approach from some of the most prominent investors such as Sequoia Capital to the bull market itself. However, in hindsight, SBF’s public persona must have also played a role.

News outlets announced him in high regard. Through his effective altruism, FTX was able to attract more investors who believed FTX would be the next big thing in crypto. People liked his modest approach to living within his means and seemingly caring about animals and the environment. This led to the rise of FTX and Alameda Research to the top of cryptocurrency exchange rankings.

FTX bankruptcy main

Who Is Sam Bankman-Fried?

Sam Bankman-Fried is the CEO and founder of FTX Exchange. He was an early adopter of cryptocurrency trading, becoming involved in the space back in 2017 when Bitcoin first skyrocketed to $20,000.

Before FTX, he was already a successful entrepreneur and investor, having founded Alameda Research in 2017 and leading the company to become an active participant in the cryptocurrency market. SBF got its start to success by arbitraging the inefficiencies of various crypto exchanges.

For example, Bitcoin could be worth $10,000 on a Japanese exchange but $9,000 on a Singaporean exchange. SBF was one of the first to recognize these inefficiencies and began profiting heavily from them by buying the cheapest Bitcoin and selling it for the highest price on another exchange. Minus the fees, this would amount to a huge profit. Although this is the main consensus on how SBF made his early fortune, there are still questions about how he got his initial capital.

Regardless, FTX was established in 2019 and quickly rose to the top of cryptocurrency exchange rankings due to SBF’s effective leadership and the FTX Token (FTT). He quickly became a legendary figure in the crypto space, amassing a huge following and becoming one of the most recognizable figures. He is also well-known for his philanthropic efforts, donating millions of dollars to various charities.

As a Stanford graduate, he was destined for achievement early on in his young career and with his early success as a trader, the mainstream public viewed him as a respected leader in the crypto industry.

FTX Exchange Goes Mainstream

In 2022, FTX began skyrocketing to mainstream appeal as the firm sponsored legendary athletes and celebrities such as Tom Brady. Along with a Superbowl commercial, FTX sponsored a Miami sports arena, renaming it FTX Arena. This was an appropriate change from American Airlines Arena as 2021 was the year when the flight wasn’t popular but cryptocurrency was.

As a centralized exchange, FTX was able to provide users with the ability to trade FTX tokens (FTT) as well as other cryptocurrencies. The benefit of being a centralized exchange was that the company was able to have a single leader that could quickly make decisions and implement them in the market.

FTX also provided users with a variety of options when trading tokens as it had an impressive selection of products such as futures contracts, options, and perpetual swaps. These products were incredibly popular amongst FTX users as they allowed users to use leverage on their trades and increase potential returns.

Due to this mainstream appeal, many casual crypto traders were drawn to FTX and this caused FTX’s user base to grow exponentially. Unfortunately, this would lead to major losses for depositors in just a few months. Users’ funds being locked in this exchange was a mistake that many first-time crypto users would have to learn the hard way in the coming months.

However, FTX and SBF would have one last run at media glory as the bear market began to crumble other debt-based companies. Debt would prove to be dangerous as collateral was evaporated during the leveraged margin calls. FTX would come in as the saving grace.

FTX Exchange and Alameda Research Buys Out Companies

The main focus of this article is around FTX Exchange and Alameda Research, however, the downfall of a few major crypto players also plays into the story of FTX Bankruptcy. FTX Exchange and Alameda Research were able to capitalize on the opportunities of other exchanges’ failures due to their leverage in the crypto markets.

FTX Exchange and Alameda Research took over bankrupt companies as they were able to offer a solution that other companies couldn’t. For instance, FTX struck a deal with BlockFi which allowed it to provide the former with a $400 million revolving credit facility that included an option to purchase BlockFi for $240 million. However, the firm would inevitably face bankruptcy just a few months later as its new parent company also files for bankruptcy.

….. (and so on).

Top App Integration Software for the Year 2023

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Top App Integration Software for the Year 2023

App integration software has become increasingly popular as a way for businesses to connect and interact with their customers. These software tools enable businesses to easily integrate their applications and services with other applications, enabling customers to access their data and services from any device. They also allow businesses to quickly and easily scale their services, as well as improve the user experience.

The market for best app integration software has been rapidly evolving over the past few years. With the introduction of cloud-based services, companies are able to easily deploy and manage their applications and services, as well as quickly scale them to meet changing customer demands. Additionally, as technology has become more sophisticated, companies are able to integrate their applications with more services, and entered the market, offering a wide range of products and services. Companies such as Amazon, Microsoft, and Google have all developed their own software solutions for app integration. This has allowed businesses to quickly and easily integrate their applications with a variety of services while keeping costs down.

As the market for app integration software continues to grow, companies are introducing new features and services to make their products even more useful. For example, some companies are now offering APIs that allow customers to access their applications and services from any device. Additionally, businesses are now able to integrate their applications with artificial intelligence (AI) and machine learning technologies, allowing them to better understand user behaviour and provide more personalized services.

The future of app integration software looks bright, as the demand for these services continues to grow, creating a need for outsourced it services. As companies continue to develop more sophisticated solutions, customers will be able to access their data and services from any device, while businesses benefit from improved user experience and cost savings.

Integration-Software-Market-Size-And-Forecast

Source: Verified Market Research

Benefits of App integration software

Automation: App integration software allows businesses to automate processes and tasks, resulting in greater efficiency and productivity. Automation also reduces the need for manual labour, which can help businesses save time and money.

Data Integration: App integration software allows businesses to integrate data from multiple applications, allowing for more accurate and comprehensive decision-making. This allows businesses to make better decisions based on the most up-to-date information.

Improved Customer Experience: App integration software allows businesses to provide their customers with a better experience. Integration software allows businesses to integrate customer data across different applications, allowing customers to easily access the information they need.

Security: App integration software helps ensure data security. By connecting multiple applications and keeping data secure, businesses can protect their customers’ data and their own confidential information.

Cost Savings: App integration software can help businesses save money by reducing the need for costly software updates and maintenance. Integration software also reduces the need for manual labour, which can help businesses save time and money.

List Of 10 Best App Integration Software in 2023

leaderboard of App Integration Softwares

zapup-logoZapUp

ZapUp Dashboard

ZapUp is a powerful and user-friendly app integration software that helps you quickly connect and manage your business applications. It allows you to connect your existing apps and data sources to create automated workflows, or “Zaps,” that save you time and money. With ZapUp, you can easily connect popular cloud applications such as Salesforce, QuickBooks, Dropbox, and Google Apps.

Features of ZapUp:

Unlimited Zaps: unlimited ZapsData can be mapped to equivalent fields in other applications and exchanged in any form inside one application, making it simple to transfer, classify, and analyze afterwards.

Application Management:Application Management

Utilize an intuitive dashboard to easily update, remove, or delete all of your app connections while keeping track of how your apps communicate with one another.

Real-time Logs:Real-time Logs Real-time reporting can help you gain insightful information about your workflows and enhance your sales, marketing, and other key operations, which will boost efficiency and productivity.

Custom Connectors:custom connectors By automating and simplifying processes, business apps can save time by reducing the need for manual data monitoring and accuracy evaluation. This helps to reduce human error.

Visual Builder:visual Builders Boost productivity without the help of IT by giving your company the tools to remain ahead of the competition, strengthen workflows, and save time on manual process execution.

Is AC covered by homeowners insurance?

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Is AC covered by homeowners insurance?

Homeowners insurance plays a pivotal role when it comes to safeguarding your home. However, many homeowners need to be made aware of the specifics of what is covered. One common question is, “Does homeowners insurance cover AC?” Keep reading to learn whether homeowners insurance covers air conditioning units.

Understanding Homeowners Insurance

Unforeseen events can damage your home and personal belongings, but homeowners insurance provides financial assistance to repair or replace them. While it typically covers perils like fire, theft, and natural disasters, the coverage specifics can vary.

Does Homeowners Insurance Cover AC?

The coverage for your air conditioning (AC) unit largely depends on the cause of its malfunction or damage. Here are some key points to consider:

● Perils Covered: Homeowners insurance typically covers damage caused by perils listed in your policy. If your AC breaks down due to a covered peril, such as a lightning strike causing a power surge, your insurance may help cover the repair or replacement costs.

● Wear and Tear: Homeowners insurance does not usually cover normal wear and tear. If your AC unit fails due to aging or lack of maintenance, you may be responsible for the repair or replacement costs.

● Maintenance Neglect: Regular maintenance is crucial to keep your AC functioning smoothly. Neglecting routine maintenance can void coverage for damages. Ensure you follow manufacturer recommendations and keep records of maintenance activities.

● Additional Coverage: Some homeowners opt for additional coverage, such as equipment breakdown insurance. This can protect appliances like your AC against mechanical failures, even if the cause is not a covered peril.

● Special Limits: Check your policy for particular limits or exclusions related to specific items, including your AC unit. Some policies may have limitations on coverage for certain high-value items.

Ensure a Cool Future: Connect with Abbate Insurance for Home Security

Homeowners insurance can offer coverage for your AC unit under specific circumstances. It’s essential to understand the terms and conditions of your policy, including any limitations or exclusions related to your air conditioning system. Regular maintenance and prompt attention to repairs also play a crucial role in ensuring coverage when you need it most

Ready to ensure your home and its essentials are adequately protected? Contact us at Abbate Insurance today for personalized homeowners insurance solutions tailored to your needs. Don’t leave the fate of your AC to chance. Call us at (203)- 777- 7229 for more information now for a comprehensive coverage plan!

3 Methods To Get Rid Of Unwanted Gift Cards

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3 Methods To Get Rid Of Unwanted Gift Cards

Another year of celebrations behind you, another stack of unwanted gift cards in a drawer. Billions of dollars in gift cards go unclaimed every year. Chances are some unclaimed dollars are lurking in your house.

Getting rid of those unwanted gift cards is simple and painless. Here are three different options to get the ball rolling.

1. Make a trade

Let’s be honest, the best thing to do with an unwanted gift card is to turn it into something useful. Instead of converting the card to cash you’ll blow, you can trade gift cards with someone else.

While CardCash is a place to buy and sell, but you can trade gift cards too. Once you make an account, the process is easy. Enter the retailer of the gift card you have and which card you want to trade for. Ship in your unwanted card and they’ll send a new one back.

Swap your unwanted gift card for one you’ll use. Your wish list and savings account will thank you.

2. Turn it into cold hard cash

If you’re grappling with holiday-induced credit card debt, it’s worth it to convert your unwanted gift cards to cash. There are a few things to know before you sell your unwanted gift cards.

On gift card resale websites, the rate of exchange varies by brand. Generally, your gift card will fetch 50-90% of its face value.

Cardpool is an excellent choice if you plan to resell. Besides accepting electronic gift cards, Cardpool has physical locations in many cities. That gift card could be off your hands and turned into money before the next workday.

If you’d prefer to handle it from your couch, that’s even easier. Enter the retailer and cash value of the card then wait for Cardpool to make an offer.

Whatever you do, resist the temptation to flip the card on eBay. Between fees, poor value, and the high chance of getting scammed, eBay is more risk for selling your gift cards than it’s worth. The same goes for Craigslist. Save yourself pain. When you sell your unwanted gift cards go with a trusted reseller.

3. Increase your karma

If you’re more interested in finding your unwanted gift cards a new home, consider regifting. Never regift a card to someone who saw you receive it. That is a serious social faux pas. But if you have a co-worker or a friend in a different circle, then regift away.

You can also unload your gift cards on the Random Kindness subreddit. If you meet the membership requirements, make a post stating the kind of gift card and its value.

If you want to give back and get back, the best bet is to donate the gift card to charity. Goodwill and the Salvation Army both accept gift cards. Other charities in your area might too. When tax season comes around, the cash value of the gift card counts as a charitable donation. Win-win!

Written by Erin M Staley.

Financial Performance Standards for Residential Roofing Contractors in Business Administration

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Financial Performance Standards for Residential Roofing Contractors in Business Administration

Roofing Contractors

The national average sales for the upper 20% of residential roofing contractors are slightly greater than $3 Million per year. A typical small roofing contractor will have a couple of crews working various projects and frequently sub out jobs. In addition, the owner acts as a project manager and there are one to two estimators depending on the volume of work.

For readers, their primary concern is the profitability of residential roofing contractors. A simple answer is 14%. But it is never that simple. Each contractor is different in how they exist as a legal entity; how much is paid to the owner as compensation; and how is the company organized or structured? All of these questions greatly impact the ability of a residential roofing contractor to generate a net profit of more than 14% annually. For those readers that are homeowners and wondering how much your local roofer is earning off your roof, you may believe that 14% is excessive. The simple truth is that it is NOT. Earning 14% versus the risk the contractor assumes for call backs, leak damage and injuries on the job site is acceptable. Given the nature of what is involved and the risks, 14% is actually low. 

Take a look at a simple profit and loss statement for a residential roofing contractor:

XYZ Roofing Inc.
Income Statement
Year Ending 12/31/19
Roofing Contracts (347 Jobs)                        $4,618,900
Inspections/Certificates (587 Units)                   279,300
Service                                                                 48,500
Total Sales                                                                         $4,946,700  
Costs of Construction:
   Materials                                                        1,849,800
   In-House Labor                                                 581,600
   Out-Sourced Labor                                             97,300
   Other (Debris Removal/Safety/Tooling)         205,200   
   Sub-Total Costs of Construction                                    2,733,900  
Field Production Profit                                                     $2,212,800
Indirect Costs of Field Operations:
   Estimators/Inspectors/Project Management    249,500
   Transportation (8 Vehicles)                               92,300
   Insurance (WC, GL, E&O, Bonds)                  119,700
   Equipment                                                          43,700
   Other                                                                   67,600
   Sub-Total Indirect Costs of Field Production                   572,800
Gross Profit                                                                        $1,640,000
Overhead:
  Officers/Staff                                                     467,700
  Facilities                                                            151,200
  Office Operations                                                93,600
  Taxes & Compliance                                        211,100
  Capital                                                                 59,800
  Sub-Total Overhead                                                           $983,400
Net Profit (After Taxes)

The Dollar Kicks off 2024 with Gains Against Yen and Euro, Bitcoin Surpasses $45,000: Reuters Report- Investorempires.com

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The Dollar Kicks off 2024 with Gains Against Yen and Euro, Bitcoin Surpasses ,000: Reuters Report- Investorempires.com

© Reuters. U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Ankur Banerjee and Alun John

SINGAPORE/LONDON (Reuters) -The dollar rose on the first trading day of the year, as attention turned to U.S. jobs data and European inflation numbers this week which may provide clues on central banks’ next moves, while bitcoin rallied.

The , which measures the U.S. currency against six rivals, was last at 101.55, up 0.17%. It fell 2% in 2023, snapping two years of gains as investors weighed the prospect of the Fed cutting rates this year.

On the other side of the dollar’s ascent was the euro which dipped 0.17% as traders digested data showing euro zone factory activity contracted in December for an 18th straight month.

The Japanese yen also struggled, with the dollar up 0.43% at 141.4 yen.

A slew of economic data is due this week including European inflation data and U.S. data on job openings and non-farm payrolls, which will help shape market expectations regarding monetary policy moves from the Fed and European Central Bank.

Markets are now pricing in an 86% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated this year.

Minutes from the last Fed meeting in December are scheduled for release on Thursday and will provide further insight into the central bankers’ thinking.

“The positive sentiment from end-2023 may roll over into this week as all eyes turn to the U.S. jobs report on Friday,” said Nicholas Chia, macro strategist at Standard Chartered (OTC:).

That sentiment was boosting commodities and stocks on Tuesday, and rippling across into currencies.

“2024 starts in positive mood in FX,” said Kenneth Broux senior strategist FX and rates at Societe Generale (OTC:), pointing to commodity and stocks-associated gains in the Australian dollar – up 0.22% at $0.6825 – the Norwegian crown – slightly firmer at 10.16 per dollar – and, in emerging markets, the Mexican peso.

Rescue teams in Japan on Tuesday struggled to reach isolated areas hit by a powerful earthquake on New Year’s Day, with reports of almost 50 people dead in a disaster that toppled buildings and knocked out power to thousands of homes.

Sterling was last at $1.2724, flat on the day, having clocked its strongest performance since 2017 with a 5% gain last year, although a weakening economy and election uncertainty make a repeat performance unlikely.

The crypto world started the year with a bang, with bitcoin touching a 21-month peak of $45,532 on rising expectations that the U.S. Securities and Exchange Commission will soon approve exchange-traded spot bitcoin funds.

Solana’s Price Drops Below $100 Once More: Could This Be the Local Bottom?

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Solana’s Price Drops Below 0 Once More: Could This Be the Local Bottom?

Hey there crypto traders, brace yourselves for the Solana down spectacle – it’s the talk of the town, but not exactly for the right reasons! The latest scoop? SOL’s ticker decided to take a detour, waving goodbye to $99 after a wild ride that started 2 months ago when we called it at $30 all the way until it hit $126.50. Someone must’ve told Solana it’s time for a breather, and boy, did it listen!

Now, don’t get all serious on us – this is just Solana stretching its crypto legs after a December sprint and Memecoin craze that even impressed the fast and furious Ethereum. You know how it goes in the crypto world, right? One day you’re the star, and the next, you’re taking a backseat to the flashy Ethereum ticker doing its own moonwalk.

Solana Heading Down due to Overbought

Our favorite coin, SOL, joined the “Overbought Club” in December, with the daily RSI flashing the “overbought” sign like it’s the hottest ticket in town. Talk about popularity! Traders, sensing an opportunity for a crypto siesta, decided it’s time to cash in those gains. Even the big players in the SOL game made a cameo, selling off their holdings like it’s a crypto garage sale. In the image below you can see when the RSI levels go above 80, we’re usually due for a little pullback.

You can Buy/Sell/Trade $SOL on Bybit aor OKX.


TVL Indicator

And what’s this we hear? Solana’s TVL (that’s Total-Value-Locked for the uninitiated) took a dip of 2 million SOL (around $200 million). That’s like someone accidentally dropping their crypto keys in the sofa cushions – oops! You can check that on DeFi Lama.

Ethereum


But hey, let’s not forget the comedy duo – SOL and its arch-rival, Ethereum. While SOL was catching its breath, ETH did a victory dance with a 12.35% climb, leaving SOL/ETH pair shuffling awkwardly at a 23.75% decrease. It’s like a dance-off where one partner suddenly decides to cha-cha while the other goes for the moonwalk – crypto style!

Trading Solana

Now, let’s talk serious business – the technicals. SOL/USD is apparently feeling a bit too overloved, prompting some chart analysts to suggest a possible crypto spa day in January. The bears want to close the door on SOL below $100, setting the stage for a dramatic drop to potentially $68.5 levels But don’t count the bulls out just yet – they’re aiming for a swanky close above $130, possibly jetting SOL to $150 by February. It’s like a crypto rom-com – will they break up or make up?

My personal trade orders are between 88-90$ with a relatively tight Stop-loss. My larger orders are in the low 70s in the case of Maham. It goes without saying, no financial advice, etc.

Final Thoughts

So, fellow crypto adventurers, buckle up and enjoy the Solana rollercoaster. After all, what’s crypto without a few ups, downs, and a sprinkle of drama? Nothing goes up in a straight line, right?

If you’re bullish on Solana in general, you can farm some $Sol airdrops while we wait for price recovery.

If you enjoy our content, you can support us by signing up for a Bybit Account with our referral link. Don’t forget to claim your bonuses if you buy/sell or trade crypto.

You might also like our recent content about the Injective ($INJ) & Trading Fundamentals.

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