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2018 Summer Flight Delay Study: Best and Worst Airports Ranked

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With the start of the summer travel season weeks away, a record number of travelers are again expected to flood airports from coast to coast. U.S. airlines enplaned 201.8 million passengers between June and August 2017, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).

As airline activity heats up so does the potential for flight delays, which can ruin even the best laid travel plans. In a new study, the MagnifyMoney research team took a look at which airlines have the worst summer delays to help travelers prepare for what’s to come.

To see which airports suffered the most delays during the summer travel season, MagnifyMoney.com analyzed Department of Transportation airport arrival data for the 50 busiest U.S. airports between 2008 and 2017.

Key findings include:

  • Summer is worse than winter for delays. More than half (52%) of airports have more summer than winter delays, although both seasons averaged an on-time rate of 77.1% for the airports we reviewed.
  • Don’t fly in June (if you can help it). June is the worst month for summer airport delays. Three-quarters (76%) of airports reviewed had the most summer delays in June. And the overall on-time rate for June was 76%, compared with the summer average of 77.1%.
  • Summer delays are getting worse. Some 54% of airports had worse summer arrival rates in 2017 than they did in 2016, with an average on-time rate across all airports of 76.1%, versus 76.5%.
  • Expect 3 out of 4 flights to be on time. The average on-time rate across all 50  airports in 2017 was 76.1%, versus 76.6% over the 10-year period between 2007 and 2016.
  • Delays are getting worse at the biggest airports. More than half (56%) of airports had worse on-time arrival rates in 2017 than they did over the previous 10 years.
  • It’s rough on the coasts. The numbers showed that Newark-Liberty, LaGuardia and San Francisco had the worst summer delays of all airports reviewed, while Honolulu, Salt Lake City, and John Wayne Airport in Orange County, Calif., had the least.

 

The worst airports for summer delays

Newark-Liberty International Airport (Newark, N.J.)

Rate of on-time arrivals over 10 years: 67%, down 2.3% from its 10-year average

A major United Airlines hub, an international U.S. gateway airport and an entry into New York City.

LaGuardia (New York City)

Rate of on-time arrivals over 10 years: 68%, up 0.7% from its 10-year average

A popular airport for those living in Manhattan.

San Francisco

Rate of on-time arrivals over 10 years: 69.2%, up 0.4% from its 10-year average

A United Airlines hub, an international U.S. gateway airport and a popular origin-and-destination market.

JFK

Rate of on-time arrivals over 10 years: 70.5%, down 0.2% from its 10-year average

A hub for JetBlue, a major U.S. international gateway airport and a popular origin-and-destination market.

Boston Logan

Rate of on-time arrivals over 10 years: 72.5%, down 3.5% from its 10-year average

A focus city for Delta Air Lines and JetBlue and a U.S. international gateway airport.

Chicago O’Hare

Rate of on-time arrivals over 10 years: 73.3%, up 3.4% from its 10-year average

A United Airlines hub and a major U.S. international gateway airport.

Airports with the fewest delays

Honolulu International, a popular origin-and-destination airport, again has the best summertime arrival rate, at 86.7%. It was followed closely by Delta’s Salt Lake City hub, at 86%. Both airports also have the best year-round arrival rates, at 85.9% and 85.7%, respectively. Out of all four seasons, Salt Lake City outperformed Honolulu in spring and fall.

The winner for most-improved: Los Angeles International Airport had the biggest improvement in summer flights landing on time, up 5.5% between 2016 and 2017, according to MagnifyMoney’s study. The airport is in the middle of a major construction project that included a major relocation of 21 airlines between May 1 and May 17, 2017, as Delta Air Lines moved from terminals 5 and 6 to terminals 2 and 3. These moves helped cut congestion on the airport’s taxiways and runways, leading to the improvement at LAX.

Other airports making the cut for the fewest summer delays include Detroit Metro, California’s Norman Y. Mineta San Jose International, Minneapolis-St. Paul, Oregon’s Portland International, Seattle-Tacoma and Phoenix Sky Harbor.

What’s driving delays?

Struggle in Newark

Only two of three planes landed on time last summer at Newark-Liberty International Airport. The airport had the lowest on-time arrival rate for all seasons of any of the 50 airports we reviewed, and, on average, 30.5% of its arrivals were late in 2017.

It doesn’t help that delays at Newark and LaGuardia, along with JFK, are exacerbated by them being located in one of the most congested airspace corridors in the world  — the Northeast. They’re also hurt by an antiquated air traffic control system that struggles to manage that airspace. Congestion in the New York airspace is responsible for nearly 75% of all air traffic delays in the country every day, according to New York-based advocacy group Global Gateway Alliance.

This could be a problem for travelers this summer, since Newark is one of United Airlines’ busiest hub airports, serving 14.6 million passengers in 2017. When there are delays at Newark, they tend to ripple across the U.S., which could cause inconveniences for passengers this summer.

West Coast woes in San Francisco

San Francisco International Airport is plagued by fog during the summer. When this happens, arriving aircraft can’t do parallel landings on the airport’s two runways due to reduced-visibility conditions. That means one runway is closed, causing delays.

The hurricane effect

The airport where on-time arrivals declined by the most was Houston Hobby, which saw a 6.8% year-over-year drop in summer on-time arrivals. That was likely driven by the aftereffects of Hurricane Harvey, which made landfall in August 2017 and snarled air traffic in the area. For the month of August alone, Hobby’s on-time arrivals dropped 22% year over year, the study found.

How to handle flight delays like a pro

Flight delays have become a normal part of air travel, but there are things you can do to mitigate the damage as much as possible.

Be prepared. This is key when booking your flights. Try to take early-morning flights because these are much less likely to be delayed or even canceled because the plane is usually already parked at the gate.

Know your rights. Every airline is required by the DOT to have a contract of carriage that outlines what they will and won’t do for passengers in case of flight delays or cancellations. In a nutshell, if the flight is delayed by weather or other acts of God, airlines don’t accept liability, as outlined in Delta’s contract of carriage. Similar clauses are followed by the major U.S. airlines.

Check the numbers. You can also check an airline’s on-time statistics and delay causes at the DOT’s Bureau of Transportation Statistics or look at the DOT’s monthly Air Travel Consumer Report, a summary of causes of delay numbers reported by each carrier. The FAA also has flight delay information on its air traffic control System Command Center website. The website has a map of the United States that shows airport delays by color code. It also allows you to search for delays by region, airport or major airport.

There’s an app for that. The FlightView app is a must-have for your travels. The free version offers the following: the ability to track flights by flight number or route; see a real-time map showing an inbound plane’s current position and national radar weather; get notifications on flight status, delays or cancellations; view a map showing a red-yellow-green delay status of airports in the U.S. and in Canada; check the percentage of current arrivals and departures that are on time, late and very late, as well as active FAA delay programs to foresee the direct or trickle-down effect that an airport delay will have on your own flight; and share your flight status via email, text or social media.

Get notified. Sign up for airline flight status notifications on your smartphone. You’ll get flight updates that can sometimes be more accurate that those given at the gate. And these notifications can give you a leg up on being reaccommodated during long delays or cancellations.

Canceled. Now what? If the worst happens, don’t go to a long line at an airline’s customer service desk for reaccommodation. Instead, either go online to a website or a smartphone app and reschedule your own flight. If you need help, call an airline’s customer service desk.

Use your status. One of the many perks of having elite status on an airline is access to a dedicated phone number you can call for flight issues. Airlines put their best agents on these lines because they want to accommodate their best customers.

Whip out your card. If you have a luxury credit cards like the Chase Sapphire Reserve®, you have extra protection when things go wrong. If you book a flight with the card and it’s canceled or cut short by things like severe weather, you can be reimbursed up to $10,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares. Or if your air travel is delayed more than six hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket. Other cards with trip delay/cancellation insurance are here.

The information related to Chase Sapphire Reserve® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Coronavirus Pandemic Triggers Investing Regrets Among U.S. Investors

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone and is not intended to be a source of investment advice. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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As the coronavirus pandemic took a hold of the global economy in early 2020, investors everywhere panicked and sent the stock market plummeting to some of its worst days in recent history. Now that some of the immediate panic has subsided, many American investors are reflecting on recent investment moves that they now regret.

In a new MagnifyMoney survey, we found that many Americans regret their previous investing decisions in light of the COVID-19 crisis. However, many investors are also hopeful for the market’s future, which could make this a perfect time to plan your own future investing moves.

Key findings

  • More than half of investors regret past investing decisions brought to light by the COVID-19 crisis.
    • Younger generations, who are arguably less experienced investors, have more regrets than older investors. A whopping 92% of Gen Z investors admitted to an investing regret in some form or another.
    • Still, 79% of Gen X had regrets, compared to much lower numbers from baby boomers (33%) and the silent generation (24%).
  • About one-third of investors have full confidence that their investments will rebound by the end of 2020, but some have more hope than others.
    • Republicans are about twice as likely as Democrats and Independents to be very confident that their investments will recover by the end of the year.
    • Meanwhile, baby boomers and the silent generation are much less confident in their investments’ recovery than younger investors.
  • Consumers with investment accounts estimate their stock market losses are about $24,400 on average since the coronavirus outbreak slammed the United States in March.
    • Baby boomers and the silent generation lost the most, at roughly $56,000 and $63,300, respectively. Unfortunately, these are the generations likely relying heavily on their investments in retirement.
    • Women estimated they lost about $32,300 through the stock market, while men estimated their investment losses to be around $18,700.
  • More than one-third of Americans think it will be at least a year before the stock market recovers from the pandemic. 
    • However, it’s worth noting that more than 1 in 5 (22%) respondents believe the market will recover in just two to five months.
  • As the stock market shows signs of growth despite the bleak financial picture of many Americans, more than half of respondents agreed that the stock market does not completely depict the financial picture of the average U.S. consumer. 
    • Republicans and those who have investment accounts (including a retirement savings account) are more likely to believe the market mirrors the average consumer (around 35% in each group), compared to Democrats (24%) and those without investment accounts (13%).

The most common investing regrets amid coronavirus pandemic

Among our respondents, the top investing regret was a lack of portfolio diversification, a regret cited by 23% of respondents. Gen X respondents regretted this mistake the most at about 29%, with millennials not far behind at 27%. At 30%, men also cited this regret more than the 13% of women who admitted to making this error.

The second most common investment regret cited (19%) was taking on risky investments. Nearly one-third of Gen Z investors got burned by a risky investment. And while baby boomers and the silent generation were less likely to make this mistake, a quarter of Gen X confessed regretting this potentially costly move.

Some examples of high-risk investments can include initial public offerings (IPOs), structured products and venture capital trusts. You also may take on considerable risk if you’re trying to time the market for maximum returns, which many experts caution against.

The third common investment regret among respondents (13%) was keeping all of their savings in the stock market. Gen Z investors were the most guilty of this mistake, with 27% regretting keeping all of their savings in investments, followed by 15% of millennials, 13% of Gen X, 7% of baby boomers and a mere 2% of the silent generation.

How to avoid investing regrets

Luckily, these investing regrets are easily avoidable. Even if you found yourself regretting your pandemic-induced investment moves, there’s still time to recover.

Diversify your portfolio

For starters, it’s important to keep your assets diversified, or spread among different investments and across industries, whether you’re a beginner or an investing veteran. That way, when one part of the market takes a tumble, the other parts of your portfolio aren’t hit as badly, or at all. Essentially, by avoiding putting all of your eggs in one basket, your investments can be better protected in a downturn.

Cushion your risky investments

Keeping your portfolio well-balanced and diversified can also help mitigate risky investments that you might have taken on. It also helps to invest your money incrementally rather than in lump sums. That way, you’ll invest in both down and up times, balancing out your investment gains rather than going all in now and regretting your risk-taking later.

Acting reactively to the market is also a risk of its own. If you sell your assets just because everyone else is panicking, prices are driven down and you end up losing money because you’re making less on the sale than what you paid when you bought the asset. Instead, ride it out and keep your money invested. The markets will recover, and your assets’ valuation will go back up, too.

Invest toward long-term gains

Due to its nature, investing is a risky business. There’s the chance of losses and there is no guaranteed payout amount waiting for you. Because of these factors, it’s generally a bad idea to place all your savings bets on your investments. If you need cash in a downturn, you’ll be selling at a loss to withdraw from your investment accounts. Even further, selling off assets and turning them into cash takes time, making this a much less convenient method of withdrawing money than, say, heading to the ATM.

Instead, you should keep your investments geared toward the future, establishing more long-term goals for your investment accounts. This is why retirement accounts are often investment-based — it gives your investments time to accumulate, but also to ride out the many fluctuations of the market.

For your more immediate cash needs, keep money in a high-yield savings account. This allows for easier withdrawals and transfers, and ensures your money still grows. You can also open an interest-bearing checking account to make sure your money is growing no matter what account it’s in.

Methodology

MagnifyMoney commissioned Qualtrics to conduct an online survey of 2,008 Americans, with the sample base proportioned to represent the overall population. The sample population included 1,183 investors and 866 non-investors. We defined the generations in 2020 as follows:

  • Gen Z is defined as ages 18 to 22
  • Millennials as ages 23 to 38
  • Gen X as ages 39 to 53
  • Baby boomers as ages 54 to 73
  • Silent generation as ages 74 and over

The survey was fielded from April 28 to May 1, 2020.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Study: The Best U.S. Cities for Working from Home

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As the coronavirus pandemic continues to change life across the nation, many workers have shifted to remote work to adhere to social-distancing guidelines. Luckily, working from home has never been easier. Thanks to advances in technology, many professionals have been able to continue plowing through their to-do lists from the comfort of their couch.

However, some cities are better for remote work than others. Cities that are more appealing to telecommuters have higher earning power for the remote workers who live there and more remote work opportunities. Additionally, cities with longer commute times also make it more appealing for residents to choose to work from home.

To determine the best cities for working from home, MagnifyMoney combed through the Census Bureau’s 2018 1-Year American Community Survey (conducted before the coronavirus pandemic began). We examined the 100 largest U.S. cities by the number of workers, classifying them by metrics related to how many people work from home, their earning power and their cost of living.

Key findings

  • Gilbert, Ariz. is rated the best place to work from home, due to a sharp rise in the number of people working from home, which indicates more remote work opportunities, as well as the fact that remote workers there make $1.32 for every dollar earned by the average worker.
  • The second best place to work from home is Atlanta, thanks to factors like a rise in people working from home from 2017 to 2018 and good pay for remote workers. Additionally, local housing costs in Atlanta were equal to just 27% of earnings for the average person who works from home.
  • Aurora, Colo. comes in third, with residents who work remotely skipping out on the 30-minute average daily commute there.
  • The worst city to work from home was Toledo, Ohio, which had a low and stagnant number of people working from home, indicating few remote work opportunities. Those who do work from home in Toledo generally earned less in comparison to average earnings.
  • The second worst city to work from home was El Paso, Texas, followed by Greensboro, N.C.
  • On average, across the 100 cities analyzed, working from home tended to pay better than not working from home.
  • Overall, the number of people working from home is fairly flat, suggesting that the so-called “telecommuting revolution” had yet to come to fruition before COVID-19.
  • Long commutes did not necessarily translate to more people working from home. While New York and New Jersey had the longest average commutes, they did not see much of an increase in the number of people working from home.

Best cities for working from home

Topping our study’s ranking of the best cities to work from home is Gilbert, Ariz. Gilbert, a suburb located southeast of Phoenix, measures just over 72 square miles and has a population of more than 230,000.

Our study found that the average person working from home in Gilbert makes $1.32 for every dollar the average person makes, earning it a tie for the 20th spot regarding that metric. Gilbert also ranked high for two metrics measuring the city’s overall work-from-home climate. It ranked fourth for its share of remote workers, with 4.90% of residents working from home, and sixth for the percent change in the number of people working from home from 2017 to 2018, a 1.20% year-over-year increase. Additionally, the average commute time of a typical worker in Gilbert is 28 minutes, earning Gilbert the 27th spot for that metric as telecommuters are saving nearly half an hour each way.

All of these metrics contributed to Gilbert’s overall top ranking, making it a great option for telecommuters looking for a balanced lifestyle of good pay, a remote work-friendly culture and a decent chunk of time saved from commuting.

Atlanta snags the spot for the second best city to work from home, thanks to the high earning power of remote workers and a culture friendly to telecommuting. Atlanta has a high work-from-home rate, with 4.50% of people working from home, earning it a sixth-place ranking for that metric. Remote workers in Atlanta make $1.13 for every dollar the average worker pulls in, and housing costs accounted for just 27% of a remote worker’s earnings, landing it the 22nd spot for that metric.

Rounding out the top three for our study on the best cities to work from home is Aurora, Colo. Aurora’s rankings were boosted by the fact that remote workers in Aurora make $1.41 for every dollar that the average person makes — earning the city the 11th spot for that metric. The city also boasts 3.50% of people working from home, which landed it in 19th spot for that metric. Additionally, workers in Aurora had an average commute time of 30 minutes, which means, conversely, remote workers get to skip out on a half hour long-commute, earning the city the 18th spot for the commute time metric.

Overall, the best state to work remotely seems to be Arizona — three cities, all Phoenix suburbs, cracked our study’s top 10 best cities to work from home ranking: Gilbert (first), Chandler (seventh) and Scottsdale (tenth). Another state with a strong presence in our study’s top 10 best cities to work from home is Colorado, with Aurora ranking second and Denver ranking sixth.

Worst cities for working from home

The U.S. city falling to the bottom of our study’s ranking — making it the worst city to work from home — is Toledo, Ohio. Located in the northwest region of Ohio, Toledo has a population of around 276,000.

Remote workers in Toledo pulled in far less than the average worker, earning just $0.58 for every $1 earned by an average worker and resulting in the city ranking 99th for that metric. Additionally, remote workers in Toledo spent an average of 51% of their earnings on housing, underscoring remote workers’ overall low earning power. Toledo also had a staggeringly low percentage of residents working remotely — 0.90% — which indicates the poor overall culture of remote work and opportunity in the city.

The second worst city to work from home, according to our study, is El Paso, Texas. Remote workers in El Paso also had dismal earning power, with people who work from home making just $0.81 for every dollar earned by the average worker, and housing costs accounting for 45% of remote workers’ earnings. Like Toledo, El Paso also had a relatively low percentage of remote workers overall, with 1.60% of people working from home, placing the city 87th for that metric.

Meanwhile, our study found that Greensboro, N.C., is the third worst city to work from home. Greensboro ranked last for the metric measuring the growth in the number of people working from home, with 1.90% fewer people working remotely in 2018 compared to 2017, indicating a possible decline in remote work opportunity there. Remote workers also weren’t saving a particularly significant amount of time by telecommuting, with the average commute time for residents in Greensboro being just 21 minutes.

Overall, our study found that there are bad cities for working from home nationwide, from the Northeast all the way to the West Coast.

Advantages and disadvantages of working from home

As is the case with clocking your 9-to-5 hours in a cubicle, many of us have discovered during the pandemic that there are both advantages and disadvantages to working from the comfort of your couch.

Advantages of working from home

  • Potentially higher pay: Our survey found that in many cities, remote workers raked in more money than non-remote workers. For example, in Norfolk, Va., the average remote worker made $1.68 for every dollar earned by the average worker. One reason for this could be that, according to the BLS, the more popular occupations for remote work include jobs in management, business and finance, all of which tend to be higher-paying.
  • Money saved on transportation: The cost of commuting is not something to overlook. Depending on the state in which you live, you could spend between $2,000 to $5,000 a year on commuting costs. Working from home enables you to save thousands of dollars a year.
  • Money saved on childcare: One of the biggest incentives for working from home is the flexibility it allows — especially for parents with kids to care for. For working parents, the cost of childcare can add up to hundreds of dollars a week. If a parent works from home, they might be able to avoid paying for a daycare service or nanny.

Learn how you can maximize your savings with the best online savings account offers. 

Disadvantages of working from home

  • Strain on relationships with colleagues: Working from home could have a negative effect on your relationships with your colleagues. At least one study has found that remote workers were more likely to report that their co-workers treat them poorly and exclude them.
  • Lack of work-life balance: When your home doubles as your workspace, it can be difficult to unplug. Indeed, one survey from Remote.co found that unplugging after work hours is the biggest challenge among telecommuters. Achieving a healthy work-life balance when you work from home can certainly be a challenging obstacle to overcome.

Methodology

For our study, we looked at data from the 2018 Census Bureau’s 1-Year American Community Survey. Metrics analyzed included:

  • The percentage of people who work from home.
  • Earnings for people working from home relative to average earnings of local workers.
  • The percentage point change in the share of workers working from home from 2017 to 2018.
  • The percentage point change in earnings for people who work from home from 2017 to 2018.
  • Housing costs as a percentage of income for people working from home.
  • Average commute time.

To create the final rankings, we ranked each city in each metric. Using these rankings, we created a final index based on each city’s average ranking. The city with the best average ranking received the highest score, while the city with the lowest average ranking received the lowest score. The cities were then indexed based on the best possible score.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.