Latest news with #Loughery
Yahoo
20-03-2025
- Climate
- Yahoo
Pinellas County beach communities rebuild after recent hurricanes
The Brief Many Pinellas County beach communities are rebuilding after the recent hurricanes. The Seahorse Restaurant, a staple in Pass-a-Grille since 1938, is one of the businesses still rebuilding. The owners say they hope to reopen by August or September, but don't have a date yet. ST. PETERSBURG, Fla - Parking lots are packed and umbrellas line the beaches as far as the eye can see, just like every spring break. New this year, though, are the scars from the storms still evident across Pinellas County's beach communities as some businesses continue to rebuild. What they're saying "It was devastating," Mike Vassalotti, from New Jersey, said. "I mean, we stayed up in St. Pete Beach and also more recently the last five or six years in Treasure Island, and you saw the pictures. I mean, we knew we knew within a couple of days people were flying drones showing all the damage. It was a mess a real mess," he said. Vassalotti has vacationed here for almost a decade. He and his friends said they're sad to see some of their favorite spots, like Willy's Burgers and Booze in St. Pete Beach, are still closed. "Treasure Island, it was pretty evident there was a lot of damage although frankly, I'm surprised things have cleaned up as well as they have," he said. They've stayed in Treasure Island for the past few years in a rental, but had to find a new place this year due to the storm damage. Vassalotti said they still decided to visit because they love it here. "Look up at the sky. It's warm. It's still pretty cold up north," he said. Wednesday, they supported local shops in Pass-a-Grille. "It's a pretty resilient place," he said about all of the beach communities. "We're trying to support as well as we can, you know, for what these folks went through every little bit helps," Vassalotti said. READ: Boy reunites with Clearwater firefighters 4 years after they helped deliver him on a pontoon boat That's music to Amy Loughery's ears. Hurricane Helene flooded her shops on 8th Avenue in Pass-a-Grille flooded with four feet of water. The seven retail shops in Pass-a-Grille, all family owned and operated, have reopened, including Loughery's. She said spring break business is crucial every year, but even more so this year. "We want people to know we're here, we're open," Loughery said. "I think if you're on vacation, there are plenty of shopping, plenty of restaurants. You'll have a great time and I think our beaches themselves look better than ever. So, we're lacking some hotel rooms. I think, though, you know, they'll come on board this summer. But it's important for small business to get the support of the community," she said. The Seahorse Restaurant, a staple in Pass-a-Grille since 1938, is one of the businesses still rebuilding. The owners say the storms flooded the restaurant with six feet of water in the front of the restaurant, and four feet in the kitchen. They had to re-do the entire restaurant. What's next The owners say they hope to reopen by August or September, but don't have a date yet. Local leaders across the beaches say some parking lots may still be closed due to storm damage and ask for everyone's patience. CLICK HERE:>>>Follow FOX 13 on YouTube The Source Information for this story was gathered by FOX 13's Kailey Tracy. STAY CONNECTED WITH FOX 13 TAMPA: Download the FOX Local app for your smart TV Download FOX Local mobile app: Apple | Android Download the FOX 13 News app for breaking news alerts, latest headlines Download the SkyTower Radar app Sign up for FOX 13's daily newsletter
Yahoo
17-02-2025
- Business
- Yahoo
I'm a Financial Advisor: This Is the Ideal Budget for a $50,000 Salary
Budgeting is important no matter how much money you make. Whether you just got a new job with a $50,000 annual salary or want to be more mindful of spending on your existing salary, Ben Loughery, certified financial planner (CFP), chartered retirement planning counselor (CRPC) and founder and financial planner at Lock Wealth Management has some advice for you. 'It is totally doable to live with this salary,' he said. 'You may just have to make a few adjustments with living below your means in certain spends.' As of May 2023, based on the most recent available data, the mean annual wage in the U.S. is $65,470 per year, according to the U.S. Bureau of Labor Statistics. You might think this could make a $50,000 annual salary hard to live on, but carefully following a budget can make all the difference. Try This: 4 Things You Must Do When Your Savings Reach $50,000 Learn More: Of course, $50,000 per year isn't the amount you'll bring home. The IRS will also take a cut, so you'll need to factor that in. In 2025, the effective tax rate on a $50,000 salary would be approximately 11.8%, which equates to a $5,914 tax liability, Loughery said. 'This is just a simplified calculation and does not account for deductions, credits or other factors that would improve their tax liability,' he said. 'There is also state tax and the Federal Insurance Contributions Act (FICA) tax to account for, as well, so this could leave us roughly $40,000 which is just over $3,300 [per] month in spending.' Ready to find out how to divide your income up each month to avoid overspending? Use the following spending blueprint created by Loughery as a guide. Budget: $500 per month No matter what your salary, saving money is important. 'Automating savings is always great, and I intentionally put savings first to pay yourself first, so you can automate that, as well,' he said. Explore More: Budget: $1,000 per month As of 2023, with the most recent available data, the median gross rent in the U.S. is $1,406 per month, according to the U.S. Census Bureau. For property owners, the median home value is $340,200. Whether you rent or own your home, Loughery said having a roommate could help make this more affordable. Budget: $500 per month Following a moderate-cost plan, the average cost of food at home for a 19-to-50-year-old male is $381 per month, according to the U.S. Department of Agriculture. This expense drops to $321.60 per month for a 19-to-50-year-old female on a moderate-cost shopping plan. Of course, you may have dependents, meaning you're not just shopping for yourself. Regardless, Loughery suggested shopping in bulk at stores like Costco to save money. Budget: $500 per month 'This includes going out for a coffee, a drink or even a workout class,' he said. You'll need to be mindful of your spending, but you can still get a lot out of $500 per month. To supplement, consider seeking out free entertainment in your local area — i.e., concerts in the park, hiking in local parks and museums offering free admission — at least on certain days. Budget: $250 per month 'Since this is the ideal budget, it would be great if you could be walkable to work and have all the other lifestyle entertainment right by you — if you are in an area that is friendly for that,' Loughery said. If you can't walk to work, consider taking public transportation to cut costs. Budget: $550 per month You can't anticipate every monthly expense, but you can make extra room in your budget. 'I like having this as our cushion in case you may need to pay a little bit more for housing or maybe there's like some one-off event that month, or even a pricier dinner,' Loughery said. Staying on budget isn't always easy, so he recommended using a budgeting app. 'I like the app Monarch, and personally use this for my own budgeting,' he said. 'It is around $8 [per] month but can quickly show how you were staying on track, and it's nice not having to put everything in excel.' No matter how you choose to budget, sticking to it is the most important part. As you can see, living comfortably on a $50,000 salary is possible if you spend wisely. More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper-Middle Class in 2025 How Much Would I Save if I Cut My Credit Card Interest to Low APR for a Year? 4 Low-Risk Ways To Build Your Savings in 2025 This article originally appeared on I'm a Financial Advisor: This Is the Ideal Budget for a $50,000 Salary Sign in to access your portfolio
