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February 6, 2024
By
The Admiral Staff
The rise of gig work is changing the employment landscape, with over 10% of the U.S. population now self-employed. Gig workers are responsible for paying self-employment taxes (up to 15.3% on income up to $168,600 in 2024) and can significantly reduce their tax burden by utilizing deductions. Key strategies include meticulously tracking income and expenses throughout the year using tools like spreadsheets or apps, and understanding deductions for
January 25, 2024
By
The Admiral Staff
This article outlines six strategies for individuals, particularly those in their 50s, to improve their financial situation. These include: reducing credit card interest through MoneyLion, lowering car insurance costs with EverQuote, investing in gold via Lear Capital, earning money by taking surveys on Branded Surveys, receiving cash back on purchases through Rakuten, and acquiring free stock by opening a SoFi Invest account. The article emphasizes that these steps are relatively easy to implement and can lead to significant savings and increased income
January 23, 2024
By
The Admiral Staff
The article encourages readers to reflect on their financial habits in 2021 and set resolutions for 2024. Key recommendations include paying off credit card debt (potentially by lowering interest rates), securing final expense life insurance to ease financial burdens on family after death, obtaining term life insurance to protect family income, prioritizing savings in high-yield accounts, and even exploring opportunities to earn extra money through apps like Solitaire Cash. The overall message is to address financial shortcomings and proactively plan for a
November 5, 2023
By
The Admiral Staff
To achieve financial goals, set SMART goals: Specific, Measurable, Attainable, Relevant, and Timely. This involves detailing goals with specific numbers, tracking progress, ensuring goals are realistic given your circumstances, connecting goals to your broader life aspirations, and assigning deadlines. Breaking down larger goals into smaller, time-bound segments can further increase the likelihood of success.
October 15, 2023
By
The Admiral Staff
This article provides a guide for gig workers on how to effectively set their rates. It emphasizes understanding industry standards, accurately calculating business costs (including taxes and overhead), and avoiding hourly rates in favor of project-based pricing. Key takeaways include regularly increasing rates as experience grows, not undervaluing work, aligning rates with personal needs and capacity, and staying motivated by seeking fulfilling and fairly compensated projects.
