WASHINGTON — The House on Thursday approved sharply scaled-down legislation targeting the dominance of Big Tech companies by giving states greater power in antitrust cases and increasing money for federal regulators.
The bipartisan measure, passed by a 242-184 vote, pales in comparison with a more ambitious package aimed at reining in Meta, Google, Amazon and Apple and cleared by key House and Senate committees. That proposal has languished for months, giving the companies time for vigorous lobbying campaigns against it.
The more limited bill would give states an upper hand over companies in choosing the location of courts that decide federal antitrust cases. Proponents say this change would avert the “home-court advantage” that Big Tech companies enjoy in federal court in Northern California, where many of the cases are tried and many of the companies are based.
Many state attorneys general have pursued antitrust cases against the industry, and many states joined with the Justice Department and the Federal Trade Commission in their landmark lawsuits against Google and Meta (then called Facebook), respectively, in late 2020.
The bill also would increase filing fees paid by companies to federal agencies for all proposed mergers worth $500 million or more, while reducing the fees for small and medium-sized transactions. The aim is to increase revenue for federal enforcement efforts.
Under the bill, companies seeking approval for mergers would have to disclose subsidies they received from countries deemed to pose strategic or economic risks to the United States — especially China.
“We find ourselves in a monopoly moment as a country,” Rep. Lori Trahan, D-Mass., said before the vote. “Multibillion-dollar corporations have grown into behemoths, eliminating any real competition in their industries and using their dominance to hurt small businesses and consumers. Meta’s monopoly power has enabled it to harm women, children and people of all ages without recourse. Amazon has used its dominance to copy competitors’ products and run small businesses into the ground.”
The Biden administration, which has pushed for antitrust legislation targeting Big Tech, endorsed the bill this week.
Even in reduced form, the legislation drew fierce opposition from conservative Republicans who split from their GOP colleagues supporting the bill. The conservatives objected to the proposed revenue increase for the antitrust regulators, arguing there has been brazen overreach by the FTC under President Joe Biden.
Rep. Tom McClintock, R-Calif., described the FTC’s leader, Lina Khan, as a “a radical leftist seeking to replace consumers’ decisions with her own.”
Another California Republican, Rep. Darrell Issa, told his colleagues: “If you want to stifle innovation, vote for this.”
If Republicans win control of the House or Senate in the November elections, they are certain to try to crimp the activism of the FTC and to challenge its broader interpretation of its legal authority.
The broader antitrust package would restrict powerful tech companies from favoring their own products and services over rivals on their platforms and could even lead to mandated breakups separating companies’ dominant platforms from their other businesses. It could, for example, prevent Amazon from steering consumers to its own brands and away from competitors’ products on its giant e-commerce platform.
The drafting of that legislation marked a new turn in Congress’ effort to curb the dominance of the tech giants and anti-competitive practices that critics say have hurt consumers, small businesses and innovation. But the proposal is complex and drew objections to some provisions from lawmakers of both parties, even though all condemn the tech giants’ conduct.
Lawmakers have faced a delicate task as they try to tighten reins around a powerful industry whose services, mostly free or nearly so, are popular with consumers and embedded into daily life.
So with time to act running out as the November elections approach in about six weeks, lawmakers extracted the less controversial provisions on antitrust court venues and merger filing fees, putting them into the new bill that passed.
Lawmakers added the provision targeting foreign subsidies to U.S. companies. Republicans especially have vocally criticized the Chinese ownership of popular video platform TikTok.
In the Senate, Minnesota Democrat Amy Klobuchar is sponsoring similar legislation with Republicans Chuck Grassley of Iowa and Mike Lee of Utah.
“Effective antitrust enforcement is critical to ensuring consumers and small businesses have the opportunity to compete,” Klobuchar said in a statement Thursday. “Enforcers cannot take on the biggest companies the world has ever known with duct tape and Band-Aids.”
Stocks plunged on Wall Street Thursday as bond yields marched higher and put the squeeze back on markets.
The S&P 500 dropped 79 points, or 2.1%, to 3,640. Nearly every stock in the benchmark index lost ground. The Dow Jones Industrial Average dropped 458 points, or 1.5%, to 29,225 and the Nasdaq fell 2.8%.
The slide marked a reversal from Wednesday, when stocks jumped and bond yields tumbled in relief after the Bank of England moved forcefully to keep borrowing rates in the United Kingdom from spiking further. That relief was short-lived, however, with Wall Street still focused on the Federal Reserve’s push to ratchet up interest rates and cool inflation.
“The primary driver of today’s slump is the U.K. as [Prime Minister Liz] Truss defended her government’s fiscal agenda, calling it the ‘right plan’ and vowing to press forward with its implementation,” analyst Adam Crisafulli of Vital Knowledge said in a research note. “Not until Truss yields on her plans (or provides additional details) will gilts and the [British pound] truly settle,” he said.
U.S. bond yields jumped. The yield on the 2-year Treasury, which tends to follow expectations for Federal Reserve action, fell to 4.23% from 4.14% late Wednesday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.80% from 3.73%.
Russia’s war in Ukraine
“The situation with Russia remains a source of concern, too,” added Crisafulli.
Russia confirmed on Thursday it will formally annex parts of Ukraine where occupied areas held Kremlin-orchestrated “referendums” on living under Moscow’s rule.
“The referendums could bring a stalemate to the fighting, but this isn’t necessarily a ‘positive’ as Europe’s energy crisis grows more acute,” Crisafulli said.
However, the United States and its Western allies have sharply condemned the votes as “sham referenda” and vowed never to recognize their results. German Foreign Minister Annalena Baerbock on Thursday joined other Western officials in denouncing the referendums.
“Under threats and sometimes even (at) gunpoint people are being taken out of their homes or workplaces to vote in glass ballot boxes,” she said at a conference in Berlin.
Recession fears bolstered by jobs report
A better-than-expected government report on U.S. layoffs only bolstered expectations that the Fed will keep hiking interest rates and investors are worried that it could hit the brakes on the economy too hard and cause a recession.
The U.S. economy has already contracted for two consecutive quarters, which is one informal measure of a recession. But, the employment market remains strong and consumers continue spending. That has helped bolster the economy and is making it more difficult to get inflation under control.
People often die while still owning plenty of assets in their retirement accounts. These tax-advantaged accounts become part of their estate, to be distributed to their heirs.
Unfortunately, the rules governing these inherited retirement accounts are anything but simple. Different rules apply depending on your relationship with the deceased, the age difference between you, and a host of other seemingly irrelevant details.
The news isn’t all bad though. If you inherit an individual retirement account (IRA) balance, its tax advantages carry over to you, and hey, you’re still looking at more money in your nest egg than you had before. Roll up your sleeves and let’s untangle the web of IRS rules.
What Is an Inherited IRA?
Inherited IRAs (also called beneficiary IRAs) are special accounts designed to hold retirement funds inherited from someone else.
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Unless you inherit the account from your spouse, you can’t roll the money from an inherited retirement account directly into your own existing IRA. You have to open a new account specifically for the inherited retirement funds. Bankers imaginatively refer to this new account as an inherited IRA or beneficiary IRA.
You can open an inherited IRA with most brokerage firms, including free brokers and robo-advisors. That part is simple enough and usually only takes five minutes or so. But don’t expect anything else about the process to be simple.
You open the new inherited IRA with your stock broker of choice and have the executor of the estate transfer the inherited funds to it. After that, you can’t make any new contributions to it — you can only contribute to your own retirement accounts each year.
The tax treatment stays the same from the original account to your new beneficiary account. In other words, after-tax Roth IRA or Roth 401(k) funds go into an inherited Roth IRA, and you transfer before-tax traditional retirement account funds into a traditional inherited IRA.
You may or may not have to take required minimum distributions (RMDs) from your beneficiary IRA. Uncle Sam wants his pound of flesh and he won’t wait forever for it, even with tax-deferred accounts. More on this shortly.
Inherited IRA Rules
Spouses get more flexibility with inherited retirement accounts than most beneficiaries. Which makes sense, given that most married couples merge their finances and share expenses.
One pitfall to watch out for either way: RMDs in the calendar year of the original owner’s death. The government insists that IRA owners take required distributions for the year that the original account owner died.
For example, if the account holder dies in January, they probably haven’t taken their RMDs for that year yet. It’s up to the IRA beneficiaries to determine whether they did or didn’t, and if not, to take an RMD on their behalf. Failure to do so can trigger a penalty of 50% of the amount not withdrawn.
For Spousal Beneficiaries
When you inherit a retirement account from your spouse, you can roll the funds over to your own IRA or Roth IRA. No other inheritors can do this. By rolling the funds over to your own IRA, you don’t have to worry about RMDs until you turn 72 and have to start taking them on your own.
It being your own IRA, you can continue to make new contributions to it. You have 60 days after receiving the funds to roll it into your own IRA. Most spouses choose this route because it’s the most straightforward.
Alternatively, you can leave your spouse’s original account open and name yourself as the owner. But if you take this path, and your spouse had started taking RMDs, you have to continue the same life expectancy plan as your spouse or submit a new distribution schedule. For Roth IRAs, the IRS does hit you with penalties if you withdraw earnings before age 59 ½ and the money hasn’t sat in the account for at least five years.
As a third option, you could leave the account open and remain a beneficiary rather than becoming an account owner. In this case, the RMD schedule remains based on the original owner. You can also withdraw funds penalty-free if your spouse was over 59 ½, even if you’re not.
You have a fourth option as well: open a new inherited IRA and follow the same rules as other types of heirs.
For Non-Spouse Beneficiaries
Non-spouses can’t take control of existing retirement accounts or roll over funds to their own IRAs. They have to open a new beneficiary IRA to hold all money inherited from tax-sheltered retirement accounts, unless they just want to take the money and run. But if you take a lump sum distribution, you have to pay income taxes on it.
Once upon a time, you could withdraw funds from inherited IRAs based on your own RMD schedule. The SECURE Act of 2019 changed all that, creating the “drain-in-10” rule. In most cases, you have to empty inherited IRAs within 10 years. That applies to Roth accounts as well — you can’t let the funds just compound tax-free indefinitely.
As you can guess, that means that early withdrawal penalties don’t apply to inherited IRAs. You can (and often must) withdraw the money before you turn 59 ½.
Exceptions to that rule, so-called “eligible beneficiaries,” include minor children of the deceased, disabled or chronically ill heirs, and heirs within 10 years’ age difference from the deceased. Once minor children reach 18, the drain-in-10 rule kicks in, and they have to empty the account by the time they turn 28.
Unlike with RMDs, the drain-in-10 rule doesn’t force you to stick to a rigid timetable. You can take regular distributions or random one-off withdrawals, or leave the money invested for the entire 10 years and pull it all out at the end.
How Inherited IRAs Are Taxed
Your benefactor already paid income taxes on Roth IRA funds, so you don’t have to pay taxes on them when you take distributions. But traditional retirement funds are a different story.
With traditional IRA or workplace retirement accounts, you pay regular income taxes on withdrawals. Your rich Aunt Susie hasn’t paid income taxes on these funds yet, which means you owe them when you take distributions. If you earned $80,000 in taxable income last year and took $20,000 in distributions, you owe ordinary income taxes on $100,000.
That said, if the estate paid estate taxes on the retirement accounts that you’re inheriting, you can deduct the amount of estate taxes taken out of your windfall.
For example, if you inherit $1 million but the government takes $400,000 of that in estate taxes, you get a tax deduction for that amount that you can carry forward to help offset income taxes on your distributions.
Pros & Cons of Inherited IRAs
I mean, let’s be honest, you’re still richer after inheriting money than you were beforehand. So in that sense, inherited IRAs are all upside. But that doesn’t mean they don’t come with complications and taxes.
Pros
What is there to like about inherited IRAs?
Simplicity for Spouses. Spouses can just roll inherited retirement funds directly into their own IRA or Roth IRA. No complex rules, just extra padding for their nest egg.
Simplicity for Roth Accounts. In yet another advantage of Roth accounts over traditional retirement accounts, inheriting Roth funds comes with fewer rules and headaches than traditional funds. Heirs don’t have to worry about RMDs or income taxes, they just need to empty the account within 10 years of inheriting funds.
Open with Any Brokerage. You can open an inherited IRA with just about any investment bank, which lets you keep all your banking in one convenient place.
Ownership and Flexibility. You own the account and can invest in virtually any asset you like with it.
Cons
Aside from the emotional side of losing a loved one, inherited IRAs come with their share of confusion and headaches.
You Owe Income Taxes. When you inherit traditional retirement accounts, you owe income taxes on each withdrawal. And not at the long-term capital gains rate either — you pay taxes at your regular income tax rate.
New Account Required. Unless you’re a spouse, you need to go out and open a new account to hold these inherited funds.
Complexity. Likewise, inheriting traditional retirement accounts also means inheriting headaches surrounding withdrawal rules. You may need to hire an accountant or financial advisor to help you figure out the distribution rules, such as an RMD schedule or when you can access funds if you keep a spouse’s existing account open.
Drain in 10. In most cases, you must empty the account within 10 years or face stiff penalties from the IRS.
Should You Open an Inherited IRA?
If you inherit a retirement account, you don’t have a choice (unless you’re a spouse).
Well, that’s not true. You can take a lump sum payout immediately rather than opening a beneficiary IRA. But if you do, you owe income taxes on the entire amount this year. That might push you into a higher tax bracket and force you to pay far higher taxes on the money than if you spread it out over 10 years.
Spouses do have a choice in the matter. In most cases, they should simply roll the funds over to their own IRA. But speak with a financial planner before making that decision because you may be better off opening an inherited IRA, especially if you plan to retire early.
Inherited IRA FAQs
Beneficiary IRAs are complicated with a capital C. These represent just a few of the common questions people have about them.
What’s the Difference Between an Inherited IRA & a Roth IRA?
A Roth IRA is your own contributory account, which you open for yourself and can contribute money to each year. You fund it with after-tax dollars, but the money grows and compounds tax-free, and you pay no taxes on withdrawals in retirement.
Inherited IRAs are designed specifically to hold funds that you inherited from someone else. They come with different rules, and they may be either Roth or traditional depending on the deceased’s account type.
What Is the 5-Year Rule for an Inherited IRA?
There are actually several different “five-year rules” when it comes to inherited IRAs.
First, Roth IRAs come with a five-year rule that states that you can’t withdraw earnings within five years of contributing the original money. That carries over to spouses who inherit Roth IRAs: they pay a 10% penalty if they withdraw earnings on funds that haven’t sat in the account for at least five years.
Before the SECURE Act of 2019, there was another five-year rule requiring that you empty inherited IRAs within five years if there wasn’t an existing RMD schedule in place. The SECURE Act replaced that rule with the drain-in-10 rule, applicable to accounts inherited from people who died in 2020 onward.
What Is the 10-Year Rule for an Inherited IRA?
Better known as the drain-in-10 rule, it requires you to empty an inherited IRA within 10 years of opening it. This rule doesn’t apply to spouses or other eligible beneficiaries such as minor children, beneficiaries with disabilities, or heirs less than 10 years younger than the decedent.
Should I Take a Lump-Sum Distribution From an Inherited IRA?
It depends on whether you feel like paying taxes on the entire balance in one year.
For example, if you inherit $200,000 in retirement funds, taking it all at once would drive you into a high income tax bracket, and you’d pay more in taxes. If you spread those distributions over 10 years, it would only add $20,000 per year to your taxable income (ignoring returns), potentially letting you stay in lower tax brackets and paying less in taxes overall.
How Long Do I Have to Transfer an Inherited IRA?
You have 60 days from when you receive the money to transfer it into a newly opened beneficiary IRA.
How Can I Avoid Tax on an Inherited IRA?
If you inherited a Roth IRA, you likely won’t have to pay any income taxes on it. Spouses just need to make sure the funds have sat for at least five years before withdrawing earnings, if they leave the original Roth IRA account open.
It’s harder to avoid taxes when you inherit traditional retirement accounts. As noted above, you can spread the distributions over 10 years. If the estate had to pay estate taxes, you can take a deduction for it as well.
Final Word
Word to the wise: speak with an accountant or other financial professional if you inherit more than a few grand in retirement funds.
These transactions come with countless rules, variations, and stipulations that make your head hurt. Ain’t nobody got time for that. And one minor misstep can cost you thousands of dollars in unnecessary IRS penalties and taxes.
Tenant insurance is a form of home insurance that protects renters and their personal belongings from theft, fire loss and other common risks. If something happens to the possessions on your property, tenant insurance covers the cost of replacing or repairing them.
It also protects renters against liability. According to the Insurance Bureau of Canada (IBC), tenants are legally responsible for property damages—accidental or otherwise—and for any injuries their visitors may suffer. If you’re not properly insured and you cause a grease fire that results in smoke damage to your apartment, you could owe for more damages. Say, your neighbour’s apartment and communal areas outside of your rented space, you’ll have to cough up all the related expenses. Similarly, if someone slips and falls in your rental, financial responsibility falls squarely on you, not the property owner. Tenant insurance is there to protect you in instances like these.
Watch: What is Tenant Insurance?
What’s covered by tenant insurance?
Basic tenant or renter’s insurance policies typically include three different types of coverage:
Contents insurance: This covers the cost of replacing or repairing the items in your rental, if they are damaged or stolen. Policies typically include contents coverage up to a specified dollar amount. In some cases, it may not cover all your valuable possessions (like fine jewellery and collectibles, which are subject to coverage limits), so be sure to discuss what items are covered before purchasing a policy. If you need, you can purchase additional contents coverage.
Liability coverage: This covers the cost of lawsuits brought against you, if someone is injured in your home or if you cause an accident that damages someone else’s property. Most basic insurance policies offer $1 million to $2 million dollars in liability coverage. Always confirm the amount of liability coverage included in your policy, because you can raise or lower the amount of coverage based on your needs.
Additional living expenses: If you have to leave your rental space while it’s being repaired, this coverage will pay for additional expenses, like hotel bills, meals and moving costs (also subject to limits). The key word here is “additional.” This means it will cover anything above and beyond your regular expenses. So, for example, if your rent is $1,500 a month and you now have to pay $2,000 a month to stay in a hotel, your insurance will cover the additional $500 a month.
What’s not covered by tenant insurance?
Certain perils are excluded from tenant insurance, unless otherwise stated in the policy. These include:
When you join the Mi Abuelo’s Rewards program, you’ll receive “special offers” on your birthday. You’ll also receive a special offer upon joining.
4. Acapulco
Sign up for the Acapulco eClub and get a free entree on your birthday. Plus, you’ll get free chips and guac just for signing up.
Photo courtesy of Arby’s
5. Arby’s
Sign up for Arby’s emails and get a free small milkshake and curly fries on your birthday when you buy any sandwich. You’ll also get a free classic roast beef when you sign up.
6. Au Bon Pain
Join the Eclub, and get a free coffee and pastry on your birthday. You’ll also get a free coffee and bakery item just for signing up..
7. Auntie Anne’s
Download the Pretzel Perks app, and get a free pretzel after your first purchase of $1 or more. Plus, you’ll get ‘something extra special’ on your birthday.
8. Baja Fresh
Sign up for Club Baja to get a “special offer” on your birthday.
9. Baskin Robbins
Create an account, join the Birthday Club, and get a free scoop of ice cream on your birthday.
10. bd’s Mongolian Grill
Get a free bowl on your birthday with the purchase of another bowl when you join the bd’s Rewards eClub. Plus, get a free starter or dessert just for signing up. After you claim your initial freebie, you’ll be issued a $10 off coupon for your next visit.
11. Benihana’s
Register for the Chef’s Table, and you’ll get a $30 birthday certificate.
12. Big Boy
Joining the I Love Big Boy email club gets you a free dessert on your birthday and on your anniversary.
13. BJ’s Brewhouse
Join Premier Rewards Plus and get a free Pizookie for your birthday. What’s that? It’s a big, warm cookie smothered in ice cream… yum. What’s even better is you don’t have to wait for your birthday – you’ll also get a free Pizookie just for signing up.
14. Black Angus Steakhouse
Join the Prime Club to get a free steak dinner on your first birthday as a member. Plus, you’ll get a free dessert just for joining.
15. Bojangles
Get a free Bo-Berry Biscuit with a purchase on your birthday as a member of the Bojangles’ eClub. You’ll also get a free ½ gallon of Legendary Ice Tea with purchase when you sign up.
16. Bruegger’s Bagels
Members of the Bruegger’s Bagels Inner Circle will enjoy a free bagel and cream cheese on their birthday, and another free bagel and cream cheese just for signing up.
17. Buca di Beppo
You’ll receive a free pasta after signing up, as well as a $20 birthday gift for joining the eClub.
Tina Russell/ The Penny Hoarder
18. Buffalo Wild Wings
Sign up for Blazin’ Rewards to get free birthday wings during your birth month.
19. Carvel
Join Fudgie Fanatics to receive a free treat for your birthday. You can get a small soft serve birthday cone, take $2 off any cake (except for a small square) or take $3 off any sheet cake.
20. Chevys Fresh Mex
Members of the eClub get a free entree on their birthday. You can also get a free guac and chips just for signing up.
Get a free dessert for your birthday when you join My Chili’s Rewards Club. Plus, as long as you spend $5, you get free chips and salsa or a non-alcoholic beverage with every visit!
23. Chipotle
Join the Chipotle rewards program to get free chips and guacamole on your birthday when you make a purchase of $5 or more. When you sign up and make your first purchase, you’ll also get a free beverage.
24. Cinnabon
Subscribe to Club Cinnabon to get a free iced coffee on your birthday and a free order of BonBites for signing up.
25. Cold Stone Creamery
Get a BOGO coupon for your birthday by signing up for the My Cold Stone Club. You’ll also get a BOGO coupon just for signing up!
Photo courtesy of Culver’s
26. Culver’s
Enjoy a free “birthday treat” when you sign up for MyCulver’s.
27. Del Taco
If you join Del Yeah! Rewards, you can enjoy a regular-size premium shake for your birthday. If you’ve racked up more than 1,500 points, you’ll get your choice of a shake or any dessert — except for Caramel Cheesecake Bites.
Plus you’ll get two free The Del tacos when you sign up.
28. Denny’s
Sign up for Denny’s Rewards program online or via the mobile app. You’ll get 20% off your next visit, plus during your birthday month you’ll get “a delicious birthday gift.”
Get a free beverage on your birthday by signing up for the DD Perks Rewards Program. Giving your birthday isn’t required to join the program, but you’ll need to offer it up if you want your free coffee!
31. Edible Arrangements
Join Edible Rewards and receive a free 12-count chocolate dipped fruit box (valued at $29.99) during your birthday month as long as you’ve spent at least $29 in the past calendar year. You’ll also get a $5 coupon for signing up (valid for 30 days).
32. Einstein Bros. Bagels
Get a free egg sandwich with a purchase on your birthday when you join the Shmear Society — not totally free, but hey, you’ll need something to help wash that sandwich down. You’ll have 14 days to claim your reward.
33. Firehouse Subs
Sign up for Firehouse Rewards for a free medium sub on your birthday or in the six days that follow it.
34. First Watch
Get a BOGO breakfast, brunch or lunch for your birthday when you sign up for email updates.
35. Friendly’s
When you become a BFF Club member, you’ll receive a free birthday sundae and another free sundae just for signing up.
36. Godiva
As a member of the Godiva Rewards Club, you’ll get a free birthday chocolate offer every year.
37. Habit Burger Grill
Be sure to join Habit Burger Grill’s CharClub to enjoy a free Charburger on your birthday. You can sign up via the app on Android and iOS devices.
38. Hooters
Get 10 free boneless birthday wings when you sign up for Hootclub. You’ll also get a free appetizer of $8.99 or less when you sign up — and after every eighth visit..
39. Houlihan’s Restaurant and Bar
Email club members get a free birthday entree, plus $10 off just for joining.
40. IHOP
Sign up for MyHop and get a free shortstack of pancakes on your birthday.
Robin Hartill scored a free birthday sub she got from Jersey Mike’s Sub in Saint Petersburg, Florida. Tina Russell/ The Penny Hoarder
41. Jersey Mike’s Subs
Get a free birthday sub when you sign up for the email club.
42. Krispy Kreme
Krispy Kreme Rewards members receive a free Original Glazed Dozen on their birthday. You’ll also get a free doughnut when you sign up.
43. Longhorn Steakhouse
As a member of the Longhorn Steakhouse’s eClub, you’ll get “special offers and coupons” on your birthday. You’ll also get a free appetizer with the purchase of an entree when you sign up.
44. Marie Callender’s
Join the eClub, and get ‘exclusive email offers’ for your birthday and wedding anniversary. You’ll also get a special dine-in offer for signing up. The company also allows you to add family members so they can get birthday rewards.
45. Moe’s Southwest Grill
Sign up for Moe Rewards and get a coupon for a free birthday burrito, plus a free cup of queso just for signing up.
46. Nothing Bundt Cakes
Join the Nothing Bundt Cakes eClub and get a free Bundtlet on your birthday.
47. Olive Garden
Get a complimentary dessert on your birthday. No signup necessary.
48. On the Border
Join Border Rewards and get a “special surprise” on your birthday. Plus, when you sign up, you’ll get a free guacamole appetizer, dessert or non-alcoholic beverage.
49. Pei Wei
Sign up for My Wei Rewards and choose from these birthday freebies: crab wontons, traditional edamame, vegetable spring rolls or pork egg roll. The reward will automatically appear in your app seven days prior to your birthday.
50. Perkins
Members of the MyPerkins Club receive a “special gift” on their birthdays. Plus you’ll get a 20% off coupon for signing up. You will also be able to add your children ages 12 and under so they can get birthday rewards, too.
51. Pinkberry
Sign up for a Pinkcard or download the app, and receive a free yogurt on your birthday.
Get a free Italian ice on your birthday when you download Rita’s Ice App.
58. Ruby Tuesday
As a member of So Connected, you’ll get a choice of a free burger or a free garden bar entree on your birthday. You’ll also get a $5 off coupon for signing up.
59. Sbarro
Become a member of the Slice Society to get a birthday surprise. You’ll also get a free New York slice when you buy a beverage after signing up.
60. Sonny’s BBQ
Get a free Big Deal Combo meal on your big day by joining the ‘Q Crew, plus a $5 off $25 coupon just for joining.
61. Sprinkles
Receive a free cupcake (make that a baker’s dozen if you’re a Red Velvet tier member) for your birthday when you join Sprinkles Perks.
Hartill sips an iced coffee she got for free on her birthday at Starbucks in Saint Petersburg, Florida. Tina Russell/ The Penny Hoarder
62. Starbucks
Get a birthday beverage or food item as a member of Starbucks Rewards.
63. TCBY
Sign up for TCBY emails, and receive your first 3 ounces free on your birthday — as long as you’ve spent $100 at TCBY over the past year.
64. Texas Roadhouse
Sign up for the email club and you’ll get a free appetizer or a sidekick of ribs on your birthday.
65. The Melting Pot
Members of Club Fondue will get a “birthday voucher.”
66. The Spaghetti Warehouse
Join the Warehouse Club, and get a free meal on your birthday, plus a free appetizer with an entree purchase for becoming a member of the club.
67. Tropical Smoothie Cafe
Download the Tropical Smoothie Cafe app to be eligible for a “birthday surprise.” What you get depends on your loyalty tier, but it ranges from a $2 reward to a free menu item.
68. Uno Pizzeria & Grill
Join the Uno Extras program, and receive a birthday coupon, as well as a free individual pizza.
69. Waffle House
Make sure you’re a member of the Waffle House Regulars Club to receive a free waffle on your birthday. You’ll also get free hashbrowns when you sign up. Additionally, Regulars receive an Anniversary Bacon Coupon, seasonal coupons, and other offers throughout the year.
70. Wahlburgers
You’ll get a free non-alcoholic shake on your birthday as a member of the Wahlclub. You’ll also get $5 off your first order just for signing up.
71. Wienerschnitzel
Join the Wiener Lovers’ Club, and get “free food” each year on your birthday, plus a free chili dog for joining.
72. Zaxby’s
Sign up for the Zax Club and get a free “birthday surprise” , plus a free Big Zax Snak for signing up.
Entertainment
73. Alamo Drafthouse Cinema
Join Alamo Drafthouse Cinema’s Victory program and get a free movie ticket on your birthday every year. If you visit Alamo Drafthouse Cinema more than 50 times per year, you’ll get two free tickets for your birthday.
Getty Images
74. AMC Theatres
Become an AMC Stubs Insider to get a free large popcorn during your birthday month. If you’re a Premiere or A-List member, you’ll also get a free large fountain drink.
75. Harkins Theatres
Sign up for My Harkins Rewards and receive a $5 birthday coupon to use at the concessions.
76. Hard Rock
Sign up for Unity by Hard Rock to get a free dessert from the cafe on your birthday.
77. Redbox
Sign up for Redbox Perks and receive a free birthday rental (it must be used within 60 days). If you have made 50 purchases or rentals, you’ll get two free birthday rentals.You’ll also get a free one-night rental for signing up (that offer is valid for two weeks).
Clothes & Shoes
78. Anthropologie
As a member of the Anthro Loyalty program, you will get a “special treat to celebrate your birthday.”
Penny Hoarder senior writer Robin Hartill knows how to score the freebies on her birthday. Check out her haul.
80. Columbia
Members of the Greater Rewards program get a “birthday gift” in addition to a welcome gift from the sportswear and outdoor gear retailer.
81. Designer Shoe Warehouse (DSW)
Join the free DSW VIP Club to get a $5 birthday reward. You’ll also get $5 on your birthday if you spend $200 annually as a VIP Gold member, and you’ll get $10 if you spend $500 annually as a VIP Elite member.
82. Famous Footwear
Famously You Rewards members get a $5 birthday cash reward. You’ll also earn double points on all of your purchases during your birthday month.
83. JCPenney
Receive a birthday gift when you sign up for JCPenney Rewards. If you are not a JCPenney credit card member, you must have earned points within the last 12 months. If you are a credit card member, you must have made a purchase with your JCPenney Credit Card within the past 12 months.
When you join Navyist Rewards, you’re eligible for one free “birthday surprise.”
86. Target
As a Target Circle member, you’ll have access to exclusive deals and get 1% rewards on every single purchase. You’ll also get a 5% off coupon on your birthday, valid for 30 days.
87. Tilly’s
Joining Tilly’s Rewards gives you the opportunity to earn Tilly’s Cash. It also gets you a free “birthday surprise.”
88. Torrid
Sign up for Torrid Rewards and get a “special birthday gift” during your birthday month.
89. Uniqlo
Download the Uniqlo app to get a birthday coupon during your birthday month.
90. Victoria’s Secret
If you have a Victoria’s Secret or PINK credit card, you’ll get $10 in birthday rewards. If you’ve spent $500 in the past year, the birthday reward bumps up to $15.
You’ll also get a $15 reward during your half birthday month at this spending level. If you spend between $250 and $499 in the past year, the half birthday reward is $10. There is no half birthday reward if you spent less than $250 over the past year.
Here are even more discounts and free stuff for anyone who has served our country: Check out this list of 160 military discounts.
Beauty & Jewelry
91. Aveda
You need to pay $10 to join Aveda’s loyalty rewards program, but you’ll receive a birthday gift, as well as double points on your Aveda purchase.
Kendra Scott offers a 50% birthday discount on one fashion jewelry or color bar item. It also offers a 25% discount on fine jewelry, sterling silver jewelry or gold vermeil jewelry. You can also get 25% off a home goods item. Find out more information here.
94. Pandora
Members of the Pandora Club get a 15% discount during their birthday month. This offer can only be used one time and is valid on regular-priced jewelry only.
As an Ultamate Rewards member, you’ll get a free gift. If you’ve spent enough money to be a Platinum ($500) or Diamond ($1,200) member, you get an additional $10 coupon.
During your birthday month, you’ll earn double points on all of your purchases.
Miscellaneous
97. Ace Hardware
Ace Rewards members get $5 off for their birthday at participating locations. If you’ve spent $750 at Ace Hardware over a 12-month period, your birthday rewards get bumped up to $10 off, regardless of location.
98. Container Store
Join the Organized Insider program to get a birthday discount. The discount is 15% off if you have spent less than $300 in the past year, 20% off if you’ve spent between $300 and $999, and 25% off if you’ve spent $1,000 or more.
Tina Russell/The Penny Hoarder
99. CVS Pharmacy
As a member of the ExtraCare program, you’ll get a free, $3 Extrabucks reward on your birthday, as well as 2% back every time you shop.
Members of World Market Rewards get a “surprise offer” on their birthday, plus a 15% coupon for signing up.
Pittsburgh-based writer Brynne Conroy is the founder of the Femme Frugality blog and the author of “The Feminist Financial Handbook.” She is a regular contributor to The Penny Hoarder. The Penny Hoarder staff also contributed to this post.
You don’t have to spend top dollar to get your hands on top gear. We’ve rounded up a variety of fun and functional electronics that make great gifts — for a friend or loved one, or even yourself.
This list of amazing gadgets available on Amazon offers something for everyone. And with each device costing less than $25, you can easily fit them into your budget.
We recommend you compare prices around the web before you buy. Also, note that although prices you see here will almost always be accurate, they do sometimes differ slightly from what you’ll see when you check Amazon.
You often hear about the bulls and the bears in the stock market. Nobody knows for sure why these two creatures became the mascots of the market, and there seems to be no pinning down the first mention of them in this context.
The most widely accepted reasoning has to do with how the two beasts attack. Bulls thrust their horns forward and up and bears use their claws to swipe downward.
It’s important that you understand the terms, regardless of why they’re used. The differences between bull markets and bear markets and how you invest in them could mean the difference between profits and losses.
Bull vs. Bear Market
Experienced investors know that bull markets and bear markets are normal cycles and prepare for them through diversification. Some assets perform better in bull markets while others fare better in bear markets.
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What exactly are the differences between the two markets these seasoned investors are preparing for?
What Is a Bull Market?
Investors say the market is bullish when market conditions are positive. During these times, stock prices are headed up and are likely to continue. Investors typically consider the market to be in bullish territory when benchmarks like the S&P 500 market index and Nasdaq composite index rise by 20% or more from previous lows.
Bull markets are the upward side of the cycle; they always follow and are followed by bear markets.
For example, when the Great Recession hit the global economy in 2008, the market fell dramatically. Conditions in the market started to pick up as soon as the economic outlook started to improve. By mid-2009, benchmarks had bounced back more than 20% from their most recent bottoms, signaling the beginning of a bull market that would become one of the longest-running bull markets in U.S. history.
What Is a Bear Market?
Bear markets are periods when share prices are trending down and are expected to continue to struggle. This shouldn’t be confused with a market correction — a short-term, yet significant downturn in prices.
The market is considered bearish when it has fallen at least 20% from recent bull-market highs. Bear markets can be triggered by a wide range of events, like overvaluations due to market bubbles, Federal Reserve interest rate changes or quantitative tightening, or economic and geopolitical concerns.
Although few market participants enjoy a bearish run, they don’t last long. Moreover, savvy investors who keep their finger on the pulse of the market are often able to turn lemons into lemonade when the market turns sour.
Differences Between Bull & Bear Markets
There are several differences between bearish and bullish financial markets, and although many of these differences are related to stock prices, many others have nothing to do with Wall Street. Check out the chart below to find out more about the differences:
Bull Markets
Bear Markets
Stock Direction
Like the strike of the bull, stock prices in bull markets head in the upward direction.
Like the strike of a bear, stock prices in bear markets head downward.
Investor Confidence
With prices trending up, investor confidence is at its highest in bull markets.
As investors begin to lose money, their confidence dwindles in bear markets.
Economic Conditions
Bull markets are the result of positive economic conditions. Consumer spending is high, leading to increasing corporate profits. Economic expansion is all but guaranteed.
Bear markets are often the result of an economic slowdown. Bear markets take hold as corporate profits dwindle. With dwindling profits, corporations freeze hiring and may initiate layoffs.
Gross Domestic Product (GDP)
When corporate profitability is climbing, consumers are spending more, and stocks are headed up, GDP tends to head in the same direction.
During bear markets, consumers spend less and corporations produce less. As a result, growth in GDP stalls and often heads in the wrong direction.
Investment Opportunities
Investors tend to look toward growth stocks when overall market prices are headed up. Tech stocks are a prime example of a bull market play. However, investing in undervalued companies during these times has the potential to generate meaningful profits too.
Bull markets last an average of 3.8 years, but some can last far longer.
The average bear market lasts under a year.
Inflation
During bull markets, economic expansion is in full swing. Consumers are spending money and corporations are generating profits. As demand for goods climbs, prices begin to rise.
During bear markets, the economy is typically under pressure. Consumers start spending less money, leading to demand destruction and slowing inflation. In some cases, this process can lead to lower prices and a potential economic recession.
Employment Data
Demand is climbing and corporations need to produce goods and services on a larger scale. They do so by hiring more, leading to lower unemployment rates and better employment data overall.
Corporations produce less as demand dwindles. With less production required, employers freeze hiring or lay off employees, leading to higher unemployment rates and poor overall employment data.
What to Do in a Bull vs. Bear Market
Many long-term investors don’t give the cycles of the market a second thought. They know it’s impossible to know when the cycles will take place and that making emotional moves in the midst of a changing market can be a dangerous concept.
These investors follow the same strategy whether the bears or the bulls are running, knowing that they maintain a diversified portfolio designed to meet their long-term financial goals. They also know that the recovery following bear markets is often worth the wait.
Nonetheless, there are plenty of investors who don’t have it in them to just sit around and watch their portfolio ebb and flow. What do you do as the tides shift?
What to Do in a Bull Market
When the market is trending up, it’s time to rebalance your portfolio with a slightly larger appetite for risk. Look for cyclical assets known for producing higher returns when economic conditions are positive. In particular, focus on growth stocks in sectors like tech and mix things up with a few smaller companies with excellent future prospects.
No matter how good the market seems to be going, don’t forget your due diligence. There are losing stocks even in bull markets; you don’t want to dive into one simply because you didn’t do your research.
Keep your portfolio allocation balanced and diversification a top priority. Things may be going great right now, but the bears can take hold at any time.
What to Do in a Bear Market
When you’re staring a market downturn in the eyes, the first idea that might come to mind is “I’m going to run to my brokerage and sell everything.” That can be a big mistake.
The first thing you should do is calm down. Keep in mind that the market is a cyclical beast and the bears will run from time to time. There’s never been a bear market in history the market didn’t recover from, and this one’s not likely to be any different.
First, rebalance your portfolio, making sure you have a fair allocation to safe-haven asset classes. Next, look into your stock holdings and compare how each investment has done. Consider selling the losers for tax-loss harvesting and practicing dollar-cost averaging to add more shares of the winners to your portfolio while they’re on sale.
Also, keep in mind that past performance isn’t always indicative of future results. Stocks that haven’t performed well in your portfolio during bull markets may be gems in bear markets. Consider why the losers have lost and whether t it’s a good idea to keep some around considering current market conditions.
The bottom line here is that investing in any market is about making educated investment decisions. Instead of running for the hills in bear markets, look for opportunities to take advantage of discounts and adjust your portfolio to stocks that are likely to produce a profit while the market is generating losses.
Final Word
The market has been on a wild ride lately. Investors have seen bull and bear markets all in the span of a couple of years. The COVID-19 pandemic put an end to one of the longest-running bull markets in U.S. history. The Federal Reserve reacted with lower interest rates and quantitative easing, while the government responded with stimulus payments directly to households.
These moves quickly pushed the market back into bull market territory but threatened significant inflation. At the same time, geopolitical tensions around the world led to further inflation and consumer concerns.
The Fed responded with higher rates and quantitative tightening, pulling money out of supply to dampen inflation as the market continued to freefall. By mid-June 2022, the S&P had fallen over 20% — in the territory of the bears.
But there were still opportunities. Stocks like Lockheed Martin and General Dynamics were enjoying double-digit growth while the overall market experienced double-digit losses. The same can happen in your portfolio whether you’re running with the bulls or guarding against the bears. Follow economic conditions, do your research, and make wise decisions with your portfolio, and you can come out ahead regardless of the state of the market.
Register for the Canadian Financial Summit, October 12 to 15, and you’ll get access to the investing and money-management knowledge of more than 35 Canadian personal financial experts, including MoneySense’s own Lisa Hannam, Justin Dallaire and Bryan Borzykowski. All-access tickets are FREE for MoneySense readers.
What can you learn? Here are a few highlights from the segments featuring MoneySense contributors:
Lisa Hannam Personal Finance Trends to Plan for in 2022 and 2023
Lisa Hannam is an award-winning editor and journalist. In her position as executive editor at Moneysense.ca, Hannam reads countless daily columns from around the world of Canadian personal finance. She’s dropping into the Summit to chat about what she has seen as far as post-COVID changes to the financial scene, the endless Canadian housing debate, where inflation is coming from, what is happening in the Canadian stock market—and finally, a reader favourite—where cryptocurrencies go from here.
Bryan Borzykowski, Ben Felix and Kornel Szrejber Best ETFs in Canada for 2022
This video presentation covers the best exchange-traded funds(ETFs) in Canada, specifically for Canadian investors. These findings are based on eight experts in this field who are part of the Best ETFs in Canada guide, written by Borzykowski.
In this interview and presentation, Kornel talks with Borzykowski and Canadian analyst Benjamin Felix, portfolio manager at PWL Capital, about the findings.
Justin Dallaire Where to Buy Real Estate in 2022 Canada
Associate editor Justin Dallaire makes his CFS debut as he takes us behind the headlines of MoneySense’s recent report on the best value real estate in Canada. Canadians who expect the usual Vancouver/Toronto duopoly to appear atop the list might be in for a real shock.
Dallaire explains the metrics behind these much-talked about rankings. He discusses where to buy real estate in today’s markets and the direction real estate may be headed in the immediate future.
JPMorgan Chase CEO Jamie Dimon thinks the multitrillion-dollar cryptocurrency market is a “decentralized Ponzi scheme.” That’s what he said — under oath! — at a Sept. 21, 2022, Congressional hearing.
Does he have a point?
I think he does, yes. But his comments were more nuanced than the headlines would suggest. Let’s break down what Dimon actually said about crypto and why it matters for you.
What Jamie Dimon Said
Testifying before the House Oversight Committee, JPMorgan Chase CEO Jamie Dimon said, “I am a major skeptic on crypto tokens — which you call cryptocurrencies — like Bitcoin. They are decentralized Ponzi schemes, and the notion that’s good for anybody is unbelievable.”
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Watch the clip and you’ll see he can barely bring himself to utter the word “cryptocurrencies.”
Dimon’s comments came with a big caveat though. He distinguished between cryptocurrencies and other blockchain-based tokens.
Right before his Bitcoin comment, he said, “You have to separate blockchain, which is real; DeFi, which is real; ledgers; tokens that do something…smart contracts. … I’m not a skeptic [of those].”
So Dimon thinks crypto coins that claim to have intrinsic value are scams, but he’s bullish on the blockchain.
Dimon has been skeptical of cryptocurrency for years. In 2017, he told CNBC that Bitcoin is a fraud “worse than tulip bulbs,” a reference to the Dutch tulip mania that created a bubble in the 17th century. He vowed to fire any JPMorgan trader caught trading crypto because “it’s against our rules and they are stupid.”
So his “decentralized Ponzi scheme” comment came as no surprise. But he did make three important points elsewhere in his testimony.
Bitcoin vs. DeFi Tokens: Flipping the Script
Maybe the most notable nugget to come out of Dimon’s testimony was his apparent support of decentralized, blockchain-based tokens.
Unlike crypto tokens that act like traditional currencies — Bitcoin (BTC), Ethereum (ETH), and the many altcoins — these tokens actually “do something,” said Dimon. They support smart contracts, person-to-person payments, metaverse transactions, and other economic functions.
This is interesting because most crypto commentators have it the other way. They think established cryptocurrencies like BTC and ETH are here to stay and will become more important to the global economy in the coming years. They’re skeptical of decentralized finance and smart contracts because they’re not yet widely used and appear not to solve real-world problems any better than existing solutions — like, say, legally binding contracts.
In summary, in Dimon’s view:
Fraud
Not Fraud
Cryptocurrencies like BTC
BlockchainLedgersDeFiSmart contracts“Tokens that do something”
Bitcoin Isn’t a Special Case
Nearly as notable is Dimon’s implication that there’s no difference between Bitcoin and other cryptocurrencies.
This isn’t a popular opinion. Most crypto experts, even those on the skeptical side of the spectrum, think Bitcoin, Ethereum, and so-called stablecoins like Tether (USDT) are real assets that aren’t going anywhere. They might not be investment-grade in the sense that U.S. Treasury bills are investment-grade, but they’re not outright scams.
Dimon disagrees. He wants nothing to do with any crypto token that calls itself a currency — with one key exception.
Stablecoins Have Potential
Dimon sounded less skeptical about stablecoins, which peg their value to real-world assets like the U.S. dollar. He likened them to money market funds and sounded supportive of federal regulation to make them safer for everyday users.
In fact, JPMorgan has a proprietary token that functions a lot like a stablecoin. Known as JPM Coin, the bank uses it within a closed system to support corporate treasury services, cross-border payments, and financial transfers between banks.
My Take
What do Jamie Dimon’s crypto-skeptic comments mean for the average investor?
I think he’s more right than wrong, but I’m cautious about his apparent enthusiasm for stablecoins.
He’s Mostly Correct About Crypto Coins …
Recent events have demolished crypto boosters’ go-to arguments:
“It’s a store of value!” No. BTC was down nearly 60% in 2022 as of Sept. 26. ETH was down over 64%. The S&P 500 index? Down about 24% for the year. (Still brutal.)
BTC Since Jan. 1, 2022
ETH Since Jan. 1, 2022
S&P 500 Since Jan. 1, 2022
“It’s a hedge against inflation!” No. See above.
“It’s untraceable!” Ilya Lichtenstein and Heather Morgan, who allegedly masterminded a scheme to launder some $4.5 billion in crypto, would beg to differ. So would former TerraUSD boss and current international fugitive Do Kwon, whose alleged shenanigans helped spark the crypto crash of early 2022.
“It’s super secure!” Nah. If you want security, keep your money under the mattress.
… But the CEO of a Megabank Is Probably Biased
Again, the real news out of Dimon’s testimony was his praise for smart contracts, DeFi, and “tokens that do something.” That, and his apparent embrace of well-regulated stablecoins.
Maybe Dimon is just calling it like he sees it. Or maybe he sees something in it for himself and his employer. (Which, let’s be real, are one and the same — Dimon is the undisputed face of JPMorgan Chase and probably the best-known big-bank CEO.)
Dimon’s aside that Chase already has a quasi-stablecoin for internal use wasn’t news to people who follow the bank, but it shows that they’ve put serious resources behind a blockchain-based product.
In fact, Chase’s Onyx subsidiary is hard at work on an entire blockchain-based payments architecture. Onyx calls itself “the first global bank to offer a blockchain-based platform for wholesale payments transactions.” Although it still mostly operates behind the scenes, a more predictable regulatory framework for blockchain products could give it the green light to enter the consumer market.
And make a boatload in the process.
Bottom Line: Don’t Jump on DeFi Just Yet
Risk-averse retail investors — including yours truly — have long been skeptical of blockchain-based products in part because the space is a financial Wild West where everyone is anonymous (or thinks they are) and fraud is rampant.
So it’s legitimately encouraging that JPMorgan Chase and other big banks are embracing the blockchain and advocating for sensible regulation of decentralized finance.
But there’s still a long way to go. Jamie Dimon said his piece at the sort of Congressional hearing that precedes a bunch of other Congressional hearings that may or may not produce actual draft legislation. Which may or may not come to a vote, let alone become law.
Until then, crypto and the blockchain remain wild. Which means you should tread carefully. No, don’t put your life savings into a high-risk Bitcoin short, but don’t put a cent more than you can afford to lose into crypto either.
Whenever you travel by air within, to or from the U.S., you’re electronically screened using the Transportation Security Administration Secure Flight screening program. While this system is transparent for most passengers, it occasionally misidentifies passengers as high risk.
If you’ve frequently been stopped for additional security during travel or have been denied travel for security reasons, you may consider applying for a redress number to avoid this in the future.
A redress number is given to individuals who were falsely identified as posing threats to transportation security or public safety when flying. It aims to streamline TSA checkpoints for these travelers.
Here’s how redress numbers work and if applying for one is a smart move for you.
What is a redress number for flying?
A redress number, or more formally a Redress Control Number, is an identifier that allows TSA to match you with the results of your redress case. A redress number is used by the TSA’s Secure Flight program to simplify the watchlist matching process and can prevent future false matches of people who have been misidentified as matching a watchlist in the past.
Most travelers won’t have a redress number. Only people who have applied for the Department of Homeland Security’s Traveler Redress Inquiry Program, or TRIP, will have one.
🤓Nerdy Tip
If you don’t have a redress number and an airline or travel site requests a redress number as part of a booking process, you’ll simply leave that field blank.
Do I need a redress number?
If you’ve been denied travel or delayed during travel for additional security screening, or if you’ve had trouble getting through checkpoints at U.S. borders, DHS TRIP may provide relief from security-related travel woes.
Specifically, TSA suggests that you apply for a redress number if you’ve had issues like being unable to print a boarding pass, being denied or delayed boarding of a plane, being denied or delayed entry into or exit from the U.S. at a border checkpoint, or are frequently referred for additional screening at an airport.
Here is the list of issues that DHS says TRIP can help resolve:
You were unable to print a boarding pass from an airline ticketing kiosk or from the Internet.
You were delayed or denied boarding an aircraft.
The airline ticket agent informed you that the federal government was not authorizing you to travel.
You are repeatedly referred for secondary screening when clearing a U.S. Customs and Border Protection checkpoint or were denied entry into the U.S.
You were told by CBP at a U.S. port of entry that your fingerprints need to be corrected.
You wish to amend a traveler record because of an overstay as a result of not submitting the required I-94 when exiting the U.S.
You believe you were incorrectly denied ESTA authorization.
If you frequently experience issues like these when traveling, you might want to apply for DHS TRIP.
Note that TRIP is meant to resolve security-related issues like watchlist mismatches. It isn’t intended to resolve customer-service complaints, address issues related to discrimination, help you find lost or damaged items or provide assistance during security screening.
Further, having a redress number doesn’t guarantee that you’ll never be selected for additional screening, but it makes additional screening less likely if you’ve been previously falsely matched to a watchlist.
How do I apply for a redress number?
During the application process, you’ll be asked a series of screening questions to determine if obtaining a redress number may help solve your travel issues.
To apply, you’ll be required to submit ID documents proving your identity. U.S. citizens should provide a copy of the biographical page of an unexpired U.S. passport or, for those without one, a copy of an unexpired government-issued photo identification.
🤓Nerdy Tip
Minors may provide a copy of a birth certificate. Get more advice on how to successfully navigate TSA PreCheck with a family.
Non-U.S. citizens must provide a copy of the biographical page of an unexpired passport and/or copies of one of several U.S. government-issued identification documents. Acceptable identification documents include:
Birth certificate (for people younger than 18.)
Military identification card.
Government identification card.
Certificate of citizenship.
Naturalization certificate.
Immigrant/non-immigrant visa.
Petition or claim receipt.
After the DHS receives and processes your application, it will send you a resolution letter detailing the outcome of your application. If you feel that your redress request was resolved incorrectly, you should follow the instructions in your resolution letter.
How do I use a redress number?
Making sure your redress number is attached to your air travel reservations will give you the greatest chance of avoiding security hassles when flying or crossing U.S. borders.
You can attach your redress number to a travel reservation during booking, you can add it to your frequent flyer profile or you can ask an airport agent to add your redress number to your reservation at check-in.
Enter your redress number during booking
Enter your redress number during the booking process when using most online travel agencies, airline websites or travel agents.
For example, when booking a flight on Expedia, you can enter your redress number after you provide your name, gender and date of birth. Look for the option to expand the “Frequent flyer, redress and more” section of this page.
Other online travel agencies and airline websites will typically have a similar option during their booking process.
Enter your redress number in your frequent flyer profile
If you belong to a frequent flyer program, you can add your redress number to your loyalty member profile. For many travelers, this is the most convenient way to ensure that your redress number is applied automatically to all their reservations. The process will vary by airline, but this can typically be done online, similarly to how you would add a known traveler number.
If you are a Delta Air Lines SkyMiles member, for example, you can add your redress number to the Secure Flight Info section of your profile. On Delta.com, your Secure Flight Information can be found under the Passenger Details section of your profile.
Similarly, Southwest Airlines members can enter their redress number under the “Travel related info” panel in the personal information section of their profile.
Exactly how to enter your information varies by airline, but the field to enter your redress number can typically be found in the same place where you enter your known traveler information.
Give your redress number to an airport agent
There may be times when you are unable to add your redress number to your reservation until check-in.
For example, if you book travel as part of a group tour package and your tour provider doesn’t provide your airline confirmation number, or if you booked through an online travel agency and forgot to add your redress number to your reservation, you may show up at the airport without your redress number attached to your reservation.
Most airport ticketing agents should be able to add your redress number to your reservation upon check-in.
Redress numbers for TSA recapped
While a redress number isn’t required for travel and not everyone will need one, if you’ve experienced security-related issues while flying, applying for a redress number may be right for you. By adding it to your travel bookings or frequent flyer accounts, you can help TSA identify you to save time and stress.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2022, including those best for:
MoneySense is a digital magazine and financial media website, featuring content produced by journalists and qualified financial professionals. MoneySense is owned by Ratehub Inc., but remains editorially independent. While our goal is to provide accurate and up-to-date financial content, we encourage readers to practice critical thinking and cross-reference information with their own sources—especially before making any financial decisions. While our editorial team does its best to ensure accuracy, details change and mistakes happen. If you read something you feel is incorrect or misleading, we would love to hear from you. MoneySense is not responsible for content on external sites that we may link to in articles. MoneySense aims to be transparent when we receive compensation for advertisements and links on our site (read our full advertising disclosure for more details). The content provided on our site is for information only; it is not meant to be relied on or used in lieu of advice from a professional. Advertisers/partners are not responsible for and do not influence any of the editorial content appearing on MoneySense.ca. Our Advertisers/partners are also not responsible for the accuracy of the information on our site. Be sure to review the provider’s terms and conditions for all products and services displayed on MoneySense.ca. Product information and details vary for Quebec. For complete and current information on any product, please visit the provider’s website.
The average monthly Social Security retirement benefit is $1,626 as of August 2022, so it’s not going to buy you a luxurious retirement. But those monthly checks can certainly make your golden years more comfortable.
Deciding when to take Social Security is a complicated piece of retirement planning. Some people opt to start benefits sooner and take smaller checks, while others try to hold out for the biggest check. If you’re in the latter camp, we’ll discuss some strategies for how to maximize your Social Security benefits.
7 Ways to Maximize Your Social Security Benefits
We’re going to be honest: There are no easy shortcuts that will get you more Social Security. Any strategy that will boost your benefit boils down to: Work longer. Earn more money. Wait as long as possible.
One thing we want to make clear, though: Don’t count on Social Security cost-of-living adjustments to make much difference. Benefits increase at a snail’s pace compared to the actual costs of living for older adults. The 2022 Social Security COLA was 5.9%, which may sound generous, but it came at a time of soaring inflation.
1. Work at least 35 years.
You typically need the equivalent of 10 years of full-time work to qualify for Social Security. But you’ll get the highest benefit if you stay on the job for at least 35 years.
Social Security uses your 35 highest-earning years to calculate your benefit.
If you worked only 32 years, they’d use your 32 years of earnings plus three zeroes to get your 35 years. Working more than 35 years can pay off if you’re making significantly more than you were in your early career because you get to replace some of those low-earning years with higher wages.
2. Earn more money.
We get it: If only you could snap your fingers and suddenly make more money. But we’re just explaining the rules here. If you’re able to find a better-paying job or boost your earnings with part-time or freelance work, you’ll get more money out of Social Security.
There’s a limit, though. Social Security has an earnings cap. Money that you make above that amount isn’t taxed, and it also doesn’t affect your future benefits. In 2022, Social Security taxes only the first $147,000. If you make $200,000 or even $2 million, Social Security will still consider your income $147,000 for the year.
3. Report all your earnings.
If you’re a regular W-2 employee, you don’t have to worry about reporting your earnings to Social Security because your employer handles that and also deducts the payroll taxes that fund Social Security and Medicare on your behalf. But if you underreport income you earn from tips, freelancing or self-employment, you’re not just putting yourself at risk of troubles with the IRS. You could reduce the amount of Social Security you get later on.
4. Wait as long as you can to take benefits.
If your retirement funds are lacking, delaying Social Security payments for as long as possible is one of the best things you can do. Full retirement age is the age when you qualify for 100% of your benefit. For most workers, it’s between 66 and 67, depending on when you were born.
You can take benefits as early as age 62. But every year you claim before your full retirement age reduces your benefit by 6.66%. Once you reach full retirement age, you can also wait even longer. You’ll get an extra 8% delayed retirement credit for each year until you hit 70. At that point, delayed retirement credits stop. Waiting until you reach age 70 can result in a monthly benefit that’s 77% higher than if you claimed at 62.
Pro Tip
Up to 85% of your Social Security benefits are taxable, depending on your income. Saving in a Roth IRA is a good way to limit your tax bill since distributions won’t count as taxable income.
5. Avoid taking benefits early if you’re still working.
If you take Social Security early while you’re still working, your benefits will be reduced by the following amounts in 2022:
$1 for every $2 you earn above $19,560 until the year you reach full retirement age.
$1 for every $3 you earn above $51,960 the year you reach full retirement age until your birthday.
Working while claiming Social Security early can seriously reduce your benefit or eliminate it altogether. But once you reach your full retirement age, Social Security will give you credit for the benefits it withheld and recalculate your benefit at a higher amount. That means you could recoup all the money Social Security withheld if you live long enough. When you hit full retirement age, your earnings won’t affect your benefits.
6. Marry someone who qualifies for a bigger benefit.
If you don’t qualify for much Social Security based on your own record, you may be eligible for more based on your spouse’s record. You can get up to 50% of your spouse’s full retirement benefit once you reach your full retirement age provided that you’ve been married for at least a year.
So if your full retirement age is 67 and your spouse’s full benefit is $2,000 a month, you’d qualify for a $1,000 a month spousal benefit if you started at 67. If you took benefits a year early, you’d get $934 a month, because you’d reduce your benefits by 6.66%. You can’t get those delayed retirement credits of 8% per year based on a spouse’s record, though, so you’ll get your maximum benefit at your full retirement age of 66 or 67.
Divorced? If you’re not remarried, you could claim benefits based on your ex’s record under the above rules, provided that your marriage lasted at least 10 years. (No, you won’t affect their benefits.)
If your current or ex-spouse dies, you could qualify for 100% of their benefit through survivor benefits, including any delayed retirement credits they earned. However, you can’t earn those 8% credits by waiting past your own full retirement age to claim.
7. Stop your benefits if you claimed them too soon.
If you claim your benefits and then regret it, you need to act fast. Social Security lets you withdraw your application if it’s been less than 12 months since you started your benefits. You’ll have to repay everything you received, including taxes and Medicare premiums that were withheld.
Once you’ve reached your full retirement age, you can suspend your benefits to earn 8% delayed retirement credits. You’ll be able to restart them for a higher amount whenever you want. Social Security will automatically resume your payments once you’re 70.
Can You Get the Maximum Social Security Benefit?
Probably not. The maximum Social Security benefit in 2022 is $4,194. But very few people will actually get that amount. To get that much, you’d have to earn the maximum salary for the year ($147,000 in 2022) for 35 years and hold out until 70.
Most people will have to make do with much less than the maximum benefit. The less you can rely on Social Security, the more comfortable you’ll be. If you’re still working, the best thing you can do is keep socking away as much as you can in a retirement account.
Robin Hartill is a certified financial planner and a senior writerat The Penny Hoarder. She writes the Dear Penny personal finance advice column. Send your tricky money questions to [email protected].
KYIV, Ukraine — Russia on Friday will formally annex occupied parts of Ukraine where it held Kremlin-orchestrated “referendums” in which it claimed that residents had voted overwhelmingly to live under Moscow’s rule. The Ukrainian government and the West have denounced the ballots as illegal, forced and rigged.
Russian President Vladimir Putin will attend a ceremony Friday in the Kremlin when four regions of Ukraine — Luhansk, Donetsk, Kherson and Zaporizhzhia — will be officially folded into Russia, spokesman Dmitry Peskov told reporters on Thursday.
Peskov said the pro-Moscow administrators of those regions will sign treaties to join Russia during the ceremony at the Kremlin’s St. George’s Hall. The official annexation was widely expected following the votes that wrapped up on Tuesday in the areas under Russian occupation in Ukraine.
The Kremlin’s announcement was met with swift rejection from European officials.
“It’s absolutely unacceptable,” said Czech Foreign Minister Jan Lipavsky, whose country currently holds the European Union presidency. “We reject such one-sided annexation based on a fully falsified process with no legitimacy.”
Lipavsky described the pro-Russia referendums as “theater play” and insisted the regions remain “Ukrainian territory.”
Other officials who denounced Russia on Thursday over the “sham” votes included the prime ministers of Italy and Denmark and German Foreign Minister Annalena Baerbock.
“Under threats and sometimes even (at) gunpoint, people are being taken out of their homes or workplaces to vote in glass ballot boxes,” she said at a conference in Berlin.
“This is the opposite of free and fair elections,” Baerbock said. “And this is the opposite of peace. It’s dictated peace. As long as this Russian diktat prevails in the occupied territories of Ukraine, no citizen is safe. No citizen is free.”
Armed Russian troops had gone door-to-door with election officials to collect ballots in five days of voting. The suspiciously high margins in favor are being characterized by the West as a land grab by an increasingly cornered Russian leadership after Russian troops faced some embarrassing military losses in Ukraine.
Moscow-installed administrations in the four regions of southern and eastern Ukraine claimed Tuesday night that 93% of the ballots cast in the Zaporizhzhia region supported annexation, as did 87% in Kherson, 98% in Luhansk and 99% in Donetsk.
Ukraine too has dismissed the referendums as illegitimate, saying it has every right to retake those territories, a position that has won support from Washington.
The Kremlin has been unmoved by the criticism. After a counteroffensive by Ukraine this month dealt Moscow’s forces heavy battlefield setbacks, Russia said it would call up 300,000 reservists to join the fight. It also warned it could resort to nuclear weapons. In response, tens of thousands of Russian men have sought to leave the country.
On the battlefront Thursday, Ukrainian authorities said Russian shelling killed at least eight civilians, including a child, and wounded scores of others. A 12-year-old girl was pulled alive out of rubble after an attack on Dnipro, officials said.
“The rescuers have taken her from under the rubble, she was asleep when the Russian missile hit,” said local administrator Valentyn Reznichenko.
A Russian rocket attack on Kramatorsk, a city in the eastern Donetsk region still held by Ukraine, wounded 11 people and inflicted damage on the city, Mayor Oleksandr Honcharenko said.
Reports of new shelling came as Russia appeared to lose more ground around the key northeastern city of Lyman, which is coming as the Russian military is struggling with a chaotic mobilization of troops and trying to prevent fighting-age men from leaving the country, according to a Washington-based think-tank and the British intelligence reports.
The Institute for the Study of War, citing Russian reports, said Ukrainian forces have taken more villages around Lyman, a city 160 kilometers (100 miles) southeast of Kharkiv, Ukraine’s second-largest city. The report said Ukrainian forces may soon encircle Lyman entirely, in what would be a major blow to Moscow’s war effort.
“The collapse of the Lyman pocket will likely be highly consequential to the Russian grouping in northern Donetsk and western Luhansk oblasts and may allow Ukrainian troops to threaten Russian positions along the western Luhansk” region, the institute said.
British military intelligence claimed the number of Russian military-age men fleeing the country likely exceeds the number of forces that Moscow used to initially invade Ukraine in February.
“The better off and well educated are over-represented amongst those attempting to leave Russia,” the British said. “When combined with those reservists who are being mobilized, the domestic economic impact of reduced availability of labor and the acceleration of ‘brain drain’ is likely to become increasingly significant.”
Russia’s partial mobilization has been deeply unpopular in some areas, however, triggering protests and scattered violence. Russian men have formed miles-long lines trying to leave at some borders and Moscow also reportedly has set up draft offices at its borders to intercept some of those fleeing.
On the subject of sabotage that has hit Russian gas pipelines to Europe this week, Peskov, the Kremlin spokesman, claimed Thursday that the Nord Stream pipeline accidents would have been impossible without a government’s involvement.
“It looks like a terror attack, probably conducted on a state level,” Peskov told reporters. “It’s a very dangerous situation that requires a quick investigation.”
He dismissed media reports about Russian warships spotted in the area as “stupid and biased,” claiming that many more NATO aircraft and ships “have been spotted in the area.”
European officials have noted that Russia benefits from higher gas prices when supplies to Europe are disrupted.
———
Follow the AP’s coverage of the war at https://apnews.com/hub/russia-ukraine
Shares in luxury carmaker Porsche AG rose on their first day of public trading after German parent company Volkswagen raised 9.4 billion euros ($9.1 billion) for one of the largest initial public offerings in European history.
Shares traded at 85.68 euros on the Frankfurt Stock Exchange on Thursday, above the initial offering price of 82.50 euros established Wednesday after Volkswagen lined up investors to buy shares for a minority stake in the maker of the 911 sports car and Cayenne SUV.
Volkswagen plans to use use the money to invest in software and electric vehicles as global auto industry shifts its focus to the energy transition.
The IPO was a venture into turbulent markets, as the war in Ukraine, inflation, rising interest rates and a global energy crunch have raised fears of recession in major economies such as Europe and the U.S. Europe’s Stoxx 600 index last week fell into bear market territory.
Still, investors snapped up the shares at the top end of the initial offer range, attracted by Porsche’s strong profit margins and recession-resistant luxury business.
The state investment funds of Qatar, Norway and Abu Dhabi took stakes, along with money manager T. Rowe Price.
Wolfsburg-based Volkswagen, whose other auto brands include Audi, Lamborghini, SEAT and Skoda, will remain the majority shareholder in Porsche and the companies’ industrial cooperation will continue. The sale is intended, however, to give Porsche more autonomy.
Volkswagen CEO Oliver Blume, who kept his earlier role as head of Porsche, will continue in that dual role.
Under the offering, 12.5% of Porsche was sold to investors in the form of non-voting shares. As part of the transaction, another 12.5% plus one share in voting shares was bought at a 7.5% premium by Porsche Automobil Holding SE, representing the Porsche and Piech families, descendants of automotive pioneer Ferdinand Porsche. Their holding is also Volkswagen’s controlling shareholder with 53% of voting shares.
Volkswagen’s plans
Volkswagen took over Porsche in 2012 after Porsche made a failed bid for Volkswagen and wound up laden with debt.
Total proceeds from the sales of the two blocks of shares totaled 19.5 billion euros. Of that amount, 49% will be paid out as a dividend to Volkswagen shareholders. The rest is left for VW to fund its investments in future technologies.
Volkswagen can use that money to invest in new factories, technologies and lines of business as the global auto industry pivots to electric vehicles in line with a worldwide focus on curbing climate-changing greenhouse gas emissions and as software development plays an ever-growing role in that shift.
The deal ranks high among Europe’s biggest share offerings — behind Italian electrical utility Enel in 1999, valued at $16.6 billion, and Deutsche Telekom in 1996, valued at $12.5 billion, according to figures compiled by financial market data provider Refinitiv.
It’s been a tough year for Netflix. And it’s about to get tougher.
In the second quarter of 2022, the company lost nearly a million subscribers — the biggest loss in company history, as we noted in “9 Good Reasons to Cancel Netflix.”
They may be wishing for a return of those halcyon days if a new survey of 1,000 people from Reviews.org turns out to be correct. According to that study, 1 in 4 people plan to ditch Netflix this year, which would be about 18 million subscribers.
Following are the top reasons people say they plan to quit Netflix.
4. Using other services more often
AFM Visuals / Shutterstock.com
Survey respondents who cited this reason for leaving Netflix: 18.25%
Once upon a time, Netflix was just about the only name in streaming. Competitors showed up, but they were slow to develop their own content and license the stuff good enough to lure people away.
That’s no longer the case. There are “12 Streaming TV Services That Cost $20 a Month — or Less,” and they have things Netflix doesn’t, from Disney’s “Star Wars” and Paramount’s “Star Trek” programming to Amazon’s new “Lord of the Rings” The Rings of Power” series.
In short, Netflix, some of us just want to see other people.
3. The rising costs of general expenses
Syda Productions / Shutterstock.com
Survey respondents who cited this reason for leaving Netflix: 19.58%
Another issue really has nothing to do with Netflix and everything to do with the economy. This year’s record inflation has tightened many budgets, and calling Netflix a “necessary expense” can be a hard sell. This is the “it’s not you, it’s me” breakup.
2. Missing titles on Netflix
nakaridore / Shutterstock.com
Survey respondents who cited this reason for leaving Netflix: 21.69%
An even bigger issue for many people — although they all tie together, really — is that there just isn’t enough to watch on Netflix to justify the cost anymore.
Brands that used to let Netflix stream their content have launched their own platforms and taken that content back, and these services all fight to exclusively stream other classics. And if Netflix is losing money, the company probably wants to be a little more selective in what they offer.
1. The rising cost of Netflix
Damir Khabirov / Shutterstock.com
Survey respondents who cited this reason for leaving Netflix: 40.49%
Naturally, the biggest reason is the simplest: The price keeps going up.
The most basic Netflix plan now costs $10 per month, compared with $8 per month for Disney+ or $4.99 for Paramount Plus. Netflix is looking at an ad-supported plan that could cost $7 to $9 per month, but even that might not be enough to satisfy many subscribers.
Do you have a flexible spending account for your health care needs? If you do, here’s a friendly heads-up: You’d better check and see how much money is left in it. You’re starting to run out of time to spend it. Tick tock!
FSAs are “use it or lose it” accounts, so you lose any money you haven’t used by the end of the year. The federal government helpfully relaxed those rules in 2020 and 2021, allowing employers to extend spending deadlines by up to a year. That’s because lots of people put off in-person doctor visits during the COVID pandemic.
But now that grace period is expiring and the rules are returning to normal, so there’s a hard deadline at the end of the year once again. Don’t let it catch you by surprise.
What’s a Flexible Spending Account, or FSA?
A flexible spending account lets you set aside pretax money for medical and dental care that insurance won’t cover. Employers take money out of paychecks to fund the accounts, which are regulated by the IRS. A third party usually administers the accounts and handles reimbursements.
The main difference? You can only establish an FSA with your employer. This means your employer — not you — owns your FSA account. If you leave your job, you lose your FSA funds.
The biggest advantage of an FSA is that all your funds are available immediately the day you enroll. Even though you haven’t paid in yet, the full contribution amount you elected during open enrollment is accessible to spend on health expenses at the beginning of the year.
The biggest drawback to an FSA is the “use it or lose it” factor, meaning you lose whatever money you don’t use up by the end of the year.
If FSA money is left in your account at the end of December, your employer can offer one of two options:
A 2.5-month grace period to spend the leftover money.
A carryover of up to $500 to spend the next plan year.
Or your job can choose to terminate any remaining funds when a new year starts. It’s totally up to your employer. It’s not up to you.
You’d Be Surprised What Your FSA Can Pay For
Most of us use our flexible spending accounts to pay for doctor visit copays or medications whose cost isn’t completely covered by our health insurance.
Refurbished goods are one way to save money on large purchases.
But if you are unfamiliar with purchasing refurbished items, you may be concerned about the quality. Don’t worry, though. Refurbished purchases from reputable companies can deliver experiences just as good as those from brand-new items.
Apple routinely offers refurbished goods, including iPhones, iPads and Macs, for hundreds of dollars less than their brand-new counterparts. The savings can quickly add up.
What Does Refurbished Mean?
Refurbished goods are products that have been restored as though they were brand new. Purchasing a refurbished product isn’t the same as receiving someone’s old, used product. If it is done correctly, you shouldn’t see any difference between a new and a refurbished item.
While used products are sold as is, perhaps with a bit of cleanup, companies selling refurbished products will return goods to their original factory states. In addition to cleaning, refurbishing can involve replacing worn parts, restoring software to factory settings and repackaging the product as though it were new.
When Apple sells refurbished electronics, the company thoroughly cleans and inspects the product. Refurbished iOS devices like the iPhone will always come with a new battery and outer shell. Apple also includes all original accessories and repackages the products in new boxes.
5 Tips for Finding Reliable Refurbished Electronics
Unfortunately, not all refurbished devices are treated the same; you must research the seller before purchasing.
While original manufacturers tend to have healthy track records with refurbished products, purchasing from a third party specializing in refurbished products may warrant extra caution.
Here are five tips for finding great deals on refurbished electronics:
1. Stick to Stores and Brands You Trust
You need to know that they are refurbishing the items themselves or using reputable companies to do the work.
Look for descriptions like “manufacturer refurbished.” That means the company that built the item handles the refurbishing, so you know they’re using the right parts and specs. Apple, Dell and HP, for example, all offer their own refurbished products.
Trusted retail stores are also a good place to start. Best Buy’s Outlet section, for example, has quality third-party refurbished electronics.
2. Look Out for the Details
There are no strict definitions of refurbished products, so finding out exactly what work was performed is essential.
When Apple sells you refurbished electronics, it takes the time to inspect everything and replace components that aren’t up to strict standards. Keep an eye out for descriptions of this nature when shopping as they point toward well-refurbished tech.
Third-party Apple refurbisher Mac of all Trades clearly states the refurbishing process on its website. The company visually inspects all products, performs a two-stage cleaning process, does a hardware test and reset, and then gives a final quality check.
Pro Tip
Refurbished goods should have more care than a simple cleaning. Refurbishers should also replace worn components and ensure all original accessories are present.
3. Research the Company and Read Reviews on Multiple Sites
A lot of positive reviews are a good sign, but they can also be faked. Try to find feedback on the seller through several sites, including social media, not just the company’s own website.
4. Find Out if There’s a Return Policy
There’s a good chance you’ll know if your product is a dud within days, if not minutes, of firing it up. A company that won’t take returns on its refurbished items is telling you something about the quality of those items. Stay away.
5. Look for a Warranty, and if There Isn’t One, Don’t Do It
Lastly, don’t forget about that warranty. A thoroughly refurbished product should come with a warranty similar to the original one. Make sure the refurbisher offers at least a one-year hardware warranty.
Avoid companies that offer only short-term warranties, such as those that last for only 90 days. If a company is offering a product that is as good as new, it should be willing to stand behind it with a full-length warranty.
3 Times It Makes Sense to Buy Refurbished
If you know you’ll use your laptop for multiple hours every day doing work you’re passionate about, maybe you should invest a little more and buy a new one. But there are times when it makes perfect sense to buy refurbished.
1. You Want to Try Something New
Never used a Fitbit or RoboVac? Test the waters with a refurbished one on the cheap. You can always upgrade to a new one later if you fall in love.
2. You’re Buying for Kids
What are the odds your kid’s tablet gets tossed across the room or goes for a swim in the toilet? Or, if it’s a gaming system, how long before they want the next latest and greatest thing? Consider the expected lifespan of the product, and you may find buying refurbished is a better bet.
3. It’s a Backup
You love your laptop, but you need a backup for light use when you travel. Or you have your main camera but need one to carry just in case. Keep your costs down by snagging a refurbished model.
Is Refurbished Worth the Savings?
Yes, refurbished products are worth the savings! We want to scream the answer from the rooftops so that everyone can take advantage of the savings.
Nothing is better for your budget than a refurbished item; you get a good-as-new product at a significant discount.
For example, if you step into Lenovo’s store of refurbished electronics, you can find ThinkPad T14s selling for 17% off, from $1,289.99 down to $1,070. That’s a savings of $219.
Alienware offers the X15 R1 gaming laptop with a configuration ordinarily worth $2,136. When purchased as “like new” (refurbished), it is $1,262. That’s a savings of $874!
Where to Buy Refurbished Products
If you’re on the hunt for refurbished products, start with the website of the product manufacturer. Most manufacturers will have an outlet or discount section of their website that offers both used and refurbished goods available for purchase.
We’ve compiled a list of online stores that feature refurbished products and refurbished electronics for popular online brands. Browse the list below to find great discounts on popular products.
Frequently Asked Questions (FAQs)
What Is the Difference Between Renewed and Refurbished Electronics?
The simple answer is that there is generally no difference between renewed and refurbished. Some manufacturers simply choose not to use the word “refurbished” to describe products that have been used then returned to like new condition.
Other terms you may hear in addition to renewed and refurbished include certified refurbished and pre-owned. However, remember that knowing the refurbishment process is more important than what the refurbisher calls its products.
Which Is Better: New or Refurbished Electronics?
We do believe that shopping refurbished is a better economic decision than buying new. When shopping refurbished, you can purchase a product that is good as new but at a significantly cheaper price.
If you can find what you are looking for from a reliable refurbisher, such as the original manufacturer, we would recommend it.
Is Refurbished the Same As Used?
No, refurbished is not the same as used; at least, it shouldn’t be from a reputable retailer. A refurbished good is similar to one that is used, but it has been restored to its original condition from when it left the factory.
Refurbished goods are generally cleaned and inspected, with the refurbisher replacing any potentially faulty or worn parts. A refurbished device will generally come sealed, new in box, with all of the original accessories and a hardware warranty.
Should I Buy a Used or Refurbished iPhone?
We would recommend purchasing refurbished iPhones directly from Apple if you are looking to save money. Apple’s refurbished models go through a rigorous refurbishment process, having their outer case and internal battery completely replaced.
Refurbished phones from Apple are an excellent way to save money while receiving a product that is good as new.
Michael Archambault is a senior writer at The Penny Hoarder specializing in technology.
Tyler Omoth is a former senior writer at The Penny Hoarder.
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}
} );
} )( window, document, “script’, ‘Rumble’ );
/* In this function you return the URL to the ad. The ‘ad’ variable will be the ad requested, which in this example can be ‘preroll_1’, ‘preroll_2’, etc.
* This function gets called in bursts, with all the waterfall IDs of a given ad in succession
* It will be called again with the next ad unit 5 seconds after the first waterfall ad is needed by the player in the current ad
*/
function request_ad( ad, callback ) {
// console.log( ‘prepare ad ‘ + ad );
/* when ad is ready you use the callback function with the vast tag URL */
callback( ad );
}
( function () {
/* configuration section */
var DEBUG = true;
var video_id = ‘vkemar’
? ‘vkemar’
: ”;
var player_id = ‘vkemar’ ? ‘videoplayer-‘ + ‘vkemar’ : ”;
var ad_timeout = 1500; /* number of ms the player will wait for an ad, not the same as prebid timeout */
var player_div = document.getElementById( player_id );
var autoplay_control=”2″;
var mute_control=””;
var setup_ads = function () {
/* set up ad points for each new video, you can change this based on your needs, this is just an example */
/* in the array of ads you can provide a URL or an ID to signify which ad we need */
insert_ad( 0, [
‘https://pubads.g.doubleclick.net/gampad/ads?iu=/57452754/Rumble_Video&description_url=http%3A%2F%2Fmoneysense.ca&tfcd=0&npa=0&sz=400×300%7C640x480&gdfp_req=1&output=vast&unviewed_position_start=1&env=vp&impl=s&correlator=”,
] );
/* Do not change below: code implementing prebid support, you should not have to change what is below */
var api;
var ads_queue = []; /* all ads defined, we will request next set of ads as the previous one is done */
var ready_ads = {}; /* as ads become ready, we will populate this for the player to use */
var prepare_on;
var loaded_new_video = function () {
if ( DEBUG )
// console.log( ‘Setting up ad cuepoints’ );
ready_ads = {};
ads_queue = [];
var ads_request = function ( ad ) {
var id = ad.url;
var timeout;
// if ( DEBUG ) console.log( ‘player is ready for: ‘ + id );
if ( prepare_on && prepare_on == id ) {
prepare_on = false;
setTimeout( function () {
prepare_next_ads();
}, 5000 );
}
if ( typeof ready_ads[ id ] == ‘string’ ) {
/* ad is ready, let the player use it */
return ready_ads[ id ];
}
ready_ads[ id ] = function ( url ) {
if ( timeout ) {
clearTimeout( timeout );
timeout = 0;
}
ad.callback( url );
ready_ads[ id ] = true;
};
timeout = setTimeout( function () {
// if ( DEBUG ) console.log( ‘Ad : ‘ + id + ‘ has timed out’ );
ready_ads[ id ] = true;
ad.callback( false );
}, ad_timeout );
/* ask the player to wait */
return true;
};
var prepare_next_ads = function () {
if ( ads_queue.length == 0 ) return;
var next_ads = ads_queue.shift();
// if ( DEBUG ) console.log( ‘Preparing next ad’ );
/* we will prepare next set of ads based on this ad gets requested by the player */
prepare_on = next_ads[ 0 ];
/* go through the waterfall asking for ads */
for ( i = 0; i < next_ads.length; i++ ) {
simple_request_ad( next_ads[ i ] );
}
};
var simple_request_ad = function ( id ) {
request_ad( id, function ( url ) {
ad_ready( id, url );
} );
};
var ad_ready = function ( id, url ) {
if ( typeof ready_ads[ id ] == 'function' ) {
/* looks like the player is already waiting for an ad */
ready_ads[ id ]( url.md );
} else if ( ready_ads[ id ] ) {
/* already an ad defined with that id, or the player timed out on it */
return;
}
/* have it ready for the player when its needed */
ready_ads[ id ] = url;
};
// Not load anything if video id is not entered.
if ( ! video_id ) {
console.log('Please set rumble video id!');
return false;
}
/* You can configure the player as you see fit, just leave the player_id and api lines intact */
if ( autoplay_control ) {
Rumble( 'play', {
video: video_id,
div: player_id,
autoplay: '2',
api: function ( api_object ) {
/* the following 4 lines are required and should not be changed */
api = api_object;
if ( ! mute_control ) {
api.mute();
} else {
api.unmute();
}
api.on( 'loadVideo', loaded_new_video );
api.on( 'adRequest', ads_request );
loaded_new_video();
},
} );
} else {
Rumble( 'play', {
video: video_id,
div: player_id,
api: function ( api_object ) {
/* the following 4 lines are required and should not be changed */
api = api_object;
if ( ! mute_control ) {
api.mute();
} else {
api.unmute();
}
api.on( 'loadVideo', loaded_new_video );
api.on( 'adRequest', ads_request );
loaded_new_video();
},
} );
}
} )();
! ( function ( r, u, m, b, l, e ) {
( r._Rumble = b ),
r[ b ] ||
( r[ b ] = function () {
( r[ b ]._ = r[ b ]._ || [] ).push( arguments );
if ( r[ b ]._.length == 1 ) {
( l = u.createElement( m ) ),
( e = u.getElementsByTagName( m )[ 0 ] ),
( l.async = 1 ),
( l.src=”https://rumble.com/embedJS/ulkdw1″ +
/* replace [PUBID] */ ( arguments[ 1 ].video
? ‘.’ + arguments[ 1 ].video
: ” ) +
‘/?url=” +
encodeURIComponent( location.href ) +
“&args=” +
encodeURIComponent(
JSON.stringify( [].slice.apply( arguments ) )
) ),
e.parentNode.insertBefore( l, e );
}
} );
} )( window, document, “script’, ‘Rumble’ );
/* In this function you return the URL to the ad. The ‘ad’ variable will be the ad requested, which in this example can be ‘preroll_1’, ‘preroll_2’, etc.
* This function gets called in bursts, with all the waterfall IDs of a given ad in succession
* It will be called again with the next ad unit 5 seconds after the first waterfall ad is needed by the player in the current ad
*/
function request_ad( ad, callback ) {
// console.log( ‘prepare ad ‘ + ad );
/* when ad is ready you use the callback function with the vast tag URL */
callback( ad );
}
( function () {
/* configuration section */
var DEBUG = true;
var video_id = ‘vkem7f’
? ‘vkem7f’
: ”;
var player_id = ‘vkem7f’ ? ‘videoplayer-‘ + ‘vkem7f’ : ”;
var ad_timeout = 1500; /* number of ms the player will wait for an ad, not the same as prebid timeout */
var player_div = document.getElementById( player_id );
var autoplay_control=”2″;
var mute_control=””;
var setup_ads = function () {
/* set up ad points for each new video, you can change this based on your needs, this is just an example */
/* in the array of ads you can provide a URL or an ID to signify which ad we need */
insert_ad( 0, [
‘https://pubads.g.doubleclick.net/gampad/ads?iu=/57452754/Rumble_Video&description_url=http%3A%2F%2Fmoneysense.ca&tfcd=0&npa=0&sz=400×300%7C640x480&gdfp_req=1&output=vast&unviewed_position_start=1&env=vp&impl=s&correlator=”,
] );
/* Do not change below: code implementing prebid support, you should not have to change what is below */
var api;
var ads_queue = []; /* all ads defined, we will request next set of ads as the previous one is done */
var ready_ads = {}; /* as ads become ready, we will populate this for the player to use */
var prepare_on;
var loaded_new_video = function () {
if ( DEBUG )
// console.log( ‘Setting up ad cuepoints’ );
ready_ads = {};
ads_queue = [];
var ads_request = function ( ad ) {
var id = ad.url;
var timeout;
// if ( DEBUG ) console.log( ‘player is ready for: ‘ + id );
if ( prepare_on && prepare_on == id ) {
prepare_on = false;
setTimeout( function () {
prepare_next_ads();
}, 5000 );
}
if ( typeof ready_ads[ id ] == ‘string’ ) {
/* ad is ready, let the player use it */
return ready_ads[ id ];
}
ready_ads[ id ] = function ( url ) {
if ( timeout ) {
clearTimeout( timeout );
timeout = 0;
}
ad.callback( url );
ready_ads[ id ] = true;
};
timeout = setTimeout( function () {
// if ( DEBUG ) console.log( ‘Ad : ‘ + id + ‘ has timed out’ );
ready_ads[ id ] = true;
ad.callback( false );
}, ad_timeout );
/* ask the player to wait */
return true;
};
var prepare_next_ads = function () {
if ( ads_queue.length == 0 ) return;
var next_ads = ads_queue.shift();
// if ( DEBUG ) console.log( ‘Preparing next ad’ );
/* we will prepare next set of ads based on this ad gets requested by the player */
prepare_on = next_ads[ 0 ];
/* go through the waterfall asking for ads */
for ( i = 0; i < next_ads.length; i++ ) {
simple_request_ad( next_ads[ i ] );
}
};
var simple_request_ad = function ( id ) {
request_ad( id, function ( url ) {
ad_ready( id, url );
} );
};
var ad_ready = function ( id, url ) {
if ( typeof ready_ads[ id ] == 'function' ) {
/* looks like the player is already waiting for an ad */
ready_ads[ id ]( url.md );
} else if ( ready_ads[ id ] ) {
/* already an ad defined with that id, or the player timed out on it */
return;
}
/* have it ready for the player when its needed */
ready_ads[ id ] = url;
};
// Not load anything if video id is not entered.
if ( ! video_id ) {
console.log('Please set rumble video id!');
return false;
}
/* You can configure the player as you see fit, just leave the player_id and api lines intact */
if ( autoplay_control ) {
Rumble( 'play', {
video: video_id,
div: player_id,
autoplay: '2',
api: function ( api_object ) {
/* the following 4 lines are required and should not be changed */
api = api_object;
if ( ! mute_control ) {
api.mute();
} else {
api.unmute();
}
api.on( 'loadVideo', loaded_new_video );
api.on( 'adRequest', ads_request );
loaded_new_video();
},
} );
} else {
Rumble( 'play', {
video: video_id,
div: player_id,
api: function ( api_object ) {
/* the following 4 lines are required and should not be changed */
api = api_object;
if ( ! mute_control ) {
api.mute();
} else {
api.unmute();
}
api.on( 'loadVideo', loaded_new_video );
api.on( 'adRequest', ads_request );
loaded_new_video();
},
} );
}
} )();
