April 2017

How Does the LA Economy Compare to the Rest of the Nation?

The city of Los Angeles has come a long way since its quiet start nearly 150 years ago. What started as a small farming community with deep cultural and religious underpinnings grew into a bustling urban center, now well-known for its elite residents and big, cutting edge business environment.

The city’s economy has grown exponentially over the years, thanks in part to a population of more than 10 million people churning out gross domestic product of nearly $700 billion. The companies that call LA home span widely in industry and size, but there is a notable wind of creativity, innovation, and diversity throughout.

How Does the LA Economy Compare to the Nation?

In recent years, LA’s economy has been reported as one of the world’s largest, falling closely behind New York City, but beating Norway, Taiwan, and Belgium based on total GDP. Exports have always played a role in how well LA’s economy thrives each and every year, and a concentration of manufacturing jobs lends a hand as well. When compared to the broader economic state of the nation, LA continues to stand out given its unique mix of industries and its rich population.

Industries that Contribute to LA’s Economy

Most people know LA as the entertainment capital of the world, but some may be surprised to learn that a number of widely varied businesses call the city home and contribute to its growing economy. Business services, education, hospitality and tourism top the list of business sectors flourishing throughout the city.

Five Little Touches That’ll Add Value To Any Home

by Guest Contributor

Simple Renovations That Add Value To Your Home

You don’t need to renovate a house floor-to-ceiling to make it more valuable. There are plenty of little things that’ll help – here are just a few of them. Renovating a home you’ve invested in can be a difficult, stressful task and not just because tracking down the right contractors can be a tall order. You want to squeeze as much value out of your property as you possibly can, whether it’s your home or a property you’re looking to sell quickly. But, not all the changes have to raise your stress. You might be surprised at how much value a minor change can add to a home. In my business of flipping homes, I have found that a … Read more

5 Ways Preventative Pet Care Can Save You Money on Vet Bills

by Hank Coleman

Pet Preventative Care Can Save You a Fortune on Vet Bills

The annual cost of veterinary bills varies widely, depending on the type of pet you have (and how many you own), their age, pre-existing conditions that may require additional treatments, specialized vaccinations and medications you might need (such as mosquito-prone areas), and where you live. But, you can save a fortune on veterinarian bills if you practice good pet preventive care. Get reimbursements of up to 100% of your vet bills with pet insurance! On average, you can expect to spend a couple hundred dollars per year on a dog (cats are relatively similar, too), but it’s important to set aside an emergency fund for unexpected veterinary expenses. Pet Preventative Care to Save Money on Vet Bills To lower your … Read more

Bigger Cars on a Budget – How to Afford a Car You Really Want

by Guest Contributor

For those with smaller budgets, a big vehicle may feel out of reach, even if it is greatly needed. Large families, small businesses, big dog owners – there are a multitude of reasons for requiring a bigger car, so how do you afford to get what you really want when you’re counting the pennies? Here are a few great routes to take:

How to Afford a Car You Really Want

Lease your vehicle

Leasing a car might feel like a strange concept to some, but in the long run it works out to be a much more economic means of obtaining a vehicle. Not only can you get your hands on a big car for an easily affordable monthly rental price, you also don’t need to worry about depreciation when it comes to selling the vehicle on.

This means you can get your hands on that SUV or even the latest Range Rover comfortably. You do need to carefully consider your annual mileage and any wear and tear to the car – exceeding agreed mileage and any damage may require further expense when your lease is up.

Personal loan

If you want to purchase your vehicle outright, a personal loan is another option to consider but it’s very important you seek out a loan product offering the best deal in terms of interest over time. It’s likely you will pay more than the car is worth when interest is added. for many paying back a loan on a monthly basis is more affordable and achievable than saving up the full amount for a brand new, big car. For many, using savings and a personal loan is an affordable way to buy a bigger car on a budget.

But, for many paying back a loan on a monthly basis is more affordable and achievable than saving up the full amount for a brand new, big car. Using savings and a personal loan is an affordable way to buy a bigger car on a budget.

When Is Investing In a Roth IRA Right for You?

by Guest Contributor

When Is Investing In a Roth IRA the Right Decision for You?

The following is a guest post by DJ Whiteside, who is the author of the book “Save BETTER!” and writer for My Money Design, a blog where he talks about saving his way to an early retirement and financial freedom. If you’d like to submit a guest post to Money Q&A, be sure to check out the site’s guest posting guidelines.

I know you’ve probably read this before: The financial media LOVES to recommend Roth IRA’s.

Make no mistake: Saving your money in a Roth IRA is a smart move. Pay your taxes now – enjoy tax-free income when you retire!

BUT is it always the smart move for you? In some situations, you might actually be better off going with a traditional IRA instead.

When is Investing In a Roth IRA Right?

Here are the major factors that can help you to understand when a Roth IRA might be a better fit for you over a traditional.

If You Plan to Retire With More

Do you know how much money you’re going to need when you retire?

This is the number one question that you need to ask yourself in order to pick which road you’d like to go down: The traditional-style plan or the Roth.

Generally speaking, if you plan to live on less money than you’re earning right now, then the traditional style plan will work out better. This is because if things are similar to how they are now, you’ll be in a lower tax bracket and likely pay less in taxes.

On the other hand, if you’re going to be fortunate enough to enjoy more money than you’re earning right now, then you’ll be in a higher tax bracket and would owe more in taxes. Therefore, the Roth would be your better bet.

The Brexit Effect on the Pound – How Traders Can Take Advantage

by Jeremy

In the aftermath of the UK’s historic referendum on independence from the EU, major impacts were felt across the financial markets.

Since the historic vote, the value of the British Pound opposed to the U.S. Dollar has dropped to $1.30, its lowest rate since 1985. Meanwhile, in continental Europe, share prices of Deutsche Bank and Banca Monte dei Paschi di Siena slumped, the latter by 80%. Global stock markets saw many UK assets plummeting, and yields on German and other government bonds fell below zero, as investors rushed to trade their bank shares for sovereign debt.

What becomes of the status of the City of London, currently the banking capital of Europe, remains to be seen, with Frankfurt, Paris, and Dublin all vying to assume the mantle. An increasing number of online traders are now turning to foreign exchange brokers, in order to capitalize on this uncertainty and the market volatility it creates, trading key currency pairs such as the GBP/USD and GBP/EUR.

The EU: a Love-Hate Relationship

The European Union remains critically important to the British economy. Almost half of all British exports are to European countries, representing 13% of overall UK GDP and providing work for an estimated 2.3 million people. When the United Kingdom leaves the EU, it is expected it will arrange a final trade agreement with the bloc within two years, to avoid heavy EU import tariffs.