Moving is really hard work, it costs you money and causes disruptions to your life. It sure would be nice if you could get reimbursed for your moving expenses through a bigger tax deduction this year, wouldn’t it? But, surely that’s too good to be true. Or is it?

Any way you can get the “tax monkey” a little more off your back, the better. Yes, it is possible that your move this tax year will qualify you for a hefty deduction. But there are rules you need to know first.

How Do I Qualify for a “Moving Deduction?”

The basic rule is that you can only deduct your moving expenses if your recent move was “work-related.” That means you moved in order to live near your new employer or you were transferred by your old employer to a new location. But your new workplace must be 50 or more miles more distant from your old home than your old workplace was from your old home. That may sound a bit confusing, so here’s a couple examples:

• Your old home is 100 miles from your new workplace. Your old home is also 15 miles from your old place of employ. 100 minus 15 is 85 miles more distant, so you get the deduction.
• Your old home is 50 miles from your new home, but only 45 miles from your new workplace. Plus, you were already commuting 10 miles from your old home to your old job. 45 minus 10 equals only 35 miles, so you don’t get the deduction.

Note you have to calculate distances using the shortest possible commute route, even if that’s not the way you actually travel.

Second, you must work full time for 39 weeks out of the first year at your new job, the 12-month period commencing from moving day. Each industry will have different standards on what counts as “full time.”

You can claim the deduction the year of your move, even though the 12 months won’t end until the next year (unless you moved January 1st!). However, if it turns out you didn’t work full time to ultimately qualify for the deduction, you have to refund it on your next tax return.

Incidentally, the relevant tax form is IRS Form 3903.

What Can I Deduct Specifically?

Any “reasonable expenses” incurred in the move can be deducted, if you have the receipts. That includes moving trucks, gas and tolls getting there, a storage unit if you couldn’t move in immediately and needed one, or plane/train tickets.

It also includes vehicle shipping expenses, if you used a car shipping company rather than drove your vehicle the distance. Check out https://executiveautoshippers.com/how-your-auto-transport-could-increase-your-tax-refund/ to learn more.

You can also take the “standard moving mileage deduction” instead of the gas deduction (if you drove). Just estimate which one will save you more.

In essence, you are deducting any expense that was necessary and directly related to your relocation. You may need to ask a tax expert about some of the details, but definitely save all receipts of anything that could possibly qualify.

If you’re looking for a way to save more money, pay off debt faster, make important financial life decisions, or start out in the world of investing for your future, you’ll have to find a way to either spend less or earn more. For many people in this situation, the household budget has already been cut down to the bone, so additional income has to pick up the slack.

Unfortunately, increasing your income often isn’t as simple as walking up to your boss and asking for a raise. For whatever reason, many people have reached the salary ceiling of their career, beyond which they can’t reasonably expect to pass. This can be frustrating and deeply discouraging, especially when one starts thinking about the events that brought about this circumstance. On the other hand, some people find freedom in novel second income opportunities that exist in greater number and variety than at any other point in history.

For people who have a home computer or other internet-connected device (and these days, who doesn’t?), spread betting can be an awesome way to generate that extra income. Beginning users will have to learn how the system works, as well as develop a familiarity with the economic and cultural factors which cause financial products to change in price. But with practice, reliable earnings can be had, enough to supplement income in many important ways. We’ll describe what spread betting is, how it works, and how the resulting returns can change your financial situation.

Spread Betting

Spread betting has been around for a long time, but it’s with the internet that it has really blossomed. In spread betting, an investor will consider many different stocks, bonds, indices, currencies, commodities, etc. on a site like ETX Capital. The investor will often choose one with which they are most familiar, but any can be picked.

Next, the user will decide on a time period to watch the price of the stock (or whatever else). If the user feels sure that the price will have changed a certain way (either the price rises or falls) when that time period has elapsed, the user will make a spread betting contract to that effect. The contract will expire at the end of the chosen time, and the user will deposit funds (user’s choice of amount) into the contract in order to be able to receive returns if the price action goes according to plan.

The user waits for the time to expire, then checks to see where the price was at the specific moment in time when the contract ran out. If at that instant the price was where the user anticipated (either above or below the starting price), the user will get returns based on how much the price actually moved in the chosen direction, and how much was initially invested into the contract. If things don’t go according to plan and the price action moves in the opposite direction, the user will lose the funds deposited.

It might seem like spread betting is as unreliable as flipping a coin for predicting the future, but this isn’t the case for skilled users. Experience teaches spread bettors a great deal about the stocks that they bet upon. With time, they’re able to look at real world information and predict how the price action is going to change with some accuracy. At this level, spread betting moves from hobby to a legitimate source of second income.

If you’re interested in seeing if you can use spread betting to make extra money, try out a free demo account where you’ll have all the functionality of a real spread betting account, but without the possibility of losing (or gaining) money. Good luck!

There are a lot of different reasons people may decide to go back to work after retirement. It could be because they didn’t save enough. Or it could be that their financial situation changed. Perhaps it’s due to sheer boredom.

No matter what the reason, though, many people do find they must return to the workforce even though they have already retired. If you are one of them, here is how to go back to work after retirement.

1. Accept It

If you retired but need to go back to work for whatever reason, you may be feeling robbed. You may have thought you would be able to relax and enjoy life now that you are getting older but find you must go back to the grind of employment instead.

Older workers who re-enter the workforce can feel depressed, frustrated, angry and, as if that is not enough already, discriminated against due to their age.

But accepting what must be and looking at it from a positive angle helps. For instance, consider entering a line of work you always wanted to do but never pursued in the past. Don’t just look for a job, but a career that you are passionate about and will make you happy.

2. Get Inspired

Being a retired worker can leave you feeling insignificant and unmotivated. However, you should keep in mind that going back to work now that you are older allows you to keep your mind and skills sharp and your body active.

To combat feelings of being unappreciated, look for a meaningful job that allows you to contribute in a way that makes you feel good about coming out of retirement. Look for work that plays to your strengths or helps you feel inspired about getting up and going to a job each day.

Changing how you feel about going back to work allows you to be open to what could be a new and exciting career.

3. Update Your Image

These days, just updating your resume is not enough when you go back to work after retirement. You must also keep your skills up to date, create an online presence and maybe even a personal brand.

To do this you should polish your resume which may mean having an expert rework it to make it more modern. Furthermore, you could utilize a professional networking site to help you connect with other business people and expand your options.

Your personal image is also important. Dress modern and in current styles. Get physically fit and take care of your appearance. All of these things can help you appear more desirable to potential employers.

4. Begin Your Job Search

Did you know that older workers are often actually more productive than younger ones? Although some employers do tend to hire younger workers, this is not the case will all of them. There are some vocations where having more experience is helpful and employers will appreciate your knowledge, age, and skill set.

Other areas you may excel in and should showcase to potential employers are leadership skills, management, organization, writing skills, and problem-solving. Believe it or not, it can actually be an asset for you to understand both old and new technology when you are an older worker in a tech job.

As an older worker, you must sell these strengths and abilities when you are applying and interviewing for a potential job. Your talent and experience may just land you the job of your dreams as you go back to work after retirement.

5. Consider Your Options

Figuring out where you fit in as you consider re-employment is not always easy. But with age comes the experience and wisdom some employers may find desirable.

Customer service, retail, and elder care are a couple of areas where being an older worker can be an asset. A few other choices include working for a non-profit organization, substitute teaching, becoming a consultant, or running a rental business of your own.

If you are great at multitasking and handling interruptions, a busy medical office or other fast-paced occupation might be a good fit for you.

Depending on your skills and interests, there are lots of different jobs you could do well at as an older worker going back to work after retirement.

It is possible to go back to work after retirement and be happy and productive as well. Use some of these tips to help you re-enter the workforce and enjoy this stage in life to its fullest.

Have you left the workforce to retire and found the need to go back to work?

Jeanne is a married mother of 2 grown children who works a full-time job, has two side hustles, and also helps out occasionally on the farm she and her husband own together. Her background is finance and medical office management, and she hopes to help others improve their finances and change their futures.

The simple answer is –Never. It is never too late to start retirement planning, and it’s never too early either. Many people put off retirement planning till much later in life, and one in five workers in the UK have Zero retirement savings and face retirement poverty. However, thanks to the UK’s pension auto enrolment program, many people have started saving towards retirement from a younger age. The UK has one of the world’s six biggest pension saving systems and according to data from the World Economic Forum, however, having a financially secure retirement still faces serious challenges. The average retirement age in the UK is currently 58 and too often many people put off retirement planning till they hit their 50s.

Planning retirement from an earlier age certainly has its advantages – for example, thanks to compound interest, if you save £7,500 when you are 20 years old with 5% interest, by the time you are in your 50s, it can grow to almost £35,000. If you find that you are in your 50s and thanks to the realities of life- raising a family, growing a business and so on- you don’t have a retirement plan, no need to panic. First, you are not alone. The average person doesn’t start pension payments till they are 27years old and they are unable to keep up with payments till an average of 40 years according to data from this study. It’s not too late unless you tell yourself that it is. The important thing is for you to understand that the sooner you get a retirement plan in place, the earlier you can retire and the better your chances.

The good news is that often, earning peaks in your fifties, and the substantial adjustments to your lifestyle that you would need to make a successful retirement might be a bit of a challenge, but taking the right steps now will give you a jump start on having a financially secure retirement.

Start Saving Today

The most important thing you need to do is to start saving a large percentage of your income right away. If you can save between 10% and 20% of your gross income, then do it. It’s a lot more difficult that it sounds, but it is easily the most effective first step towards having a retirement plan. A few ways to successfully do this is to eliminate consumer debt (credit card debt), authorize an automatic withdrawal from your pay check, and send any bonuses and raises directly to your savings.

Convert any assets you can into a retirement savings

You can do this by moving to a less expensive home, and moving your equity into your savings account. You will also make a lot of savings from utilities, maintenance, property taxes, mortgage payments and more. You can also consider moving to areas with a lower cost of living, and lower cost housing markets.

These two strategies can help boost the contents of your nest egg. You can do more by reading more aggressive approaches to building a retirement savings for late starters. The most important thing to keep in mind, however, is that creating a retirement plan, whatever your age is a very urgent matter and it can never be too late (or too early) to start planning for a financially secure retirement right away.