DINARRECAPS8 7/10/24 DINARRECAPS8 7/10/24

Boots On The Ground In The World’s Bitcoin Paradise

Notes From the Field by James Hickman July 10, 2024

[Editor’s note: This letter was written by Schiff Sovereign’s CEO, Viktorija Simulynaite, who is on the ground in El Salvador.]

The first thing my driver said to me after I got off the plane in El Salvador was, “Welcome to my country. It’s very safe here now.” I chuckled to myself because this seemed like such an odd greeting. But the more time I spent mingling with locals in El Salvador, the more it made sense.

The transformation that has taken place in the country over the past five years cannot be overstated.

Five years ago El Salvador had one of the highest murder rates in the world. It was basically a war zone. Gangs such as MS-13 and Barrio 18 were far more powerful than the government, and they enforced their own laws in their respective territories, sort of like the Taliban in Afghanistan.

The country’s young president, Nayib Bukele, put an end to all that when he was elected in 2019.

DINARRECAPS8 7/10/24 DINARRECAPS8 7/10/24

6 Frugal Habits Money Experts Disagree On

Cindy Lamothe Mon, July 8, 2024 GOBankingRates

There is no end to all of the financial advice you’ll see on the internet. Money influencers will say one thing — and then you’ll promptly read a rebuttal.

If you’re trying to stay on budget, knowing how to spend wisely should be your priority. That’s why it’s important to weigh all sides of an argument and arrive at your own conclusions.

Here are some of the top frugal habits money experts disagree on.

DINARRECAPS8 7/9/24 DINARRECAPS8 7/9/24

5 Financial Mistakes Millennials Got From Their Parents

David Nadelle Tue, July 9, 2024 GOBankingRates

While only 27% of Americans across all ages say their money-saving habits are “excellent,” a new study found 65% of millennials and Gen Z-ers worry about baby boomers’ impact on their future.

The survey, conducted by OnePoll for National Debt Relief between Aug. 4-8, 2023, found that although younger generations were concerned about the effect older generations’ financial decisions will have on them, 62% of all respondents (split evenly by generation) admit they make poor money decisions sometimes. Almost half (48%) of respondents said their parents influenced their money habits.

With 51% of respondents admitting they have been in debt at some point, and 42% currently experiencing money troubles, the study also found that many Americans are eager to destigmatize “shameful” debt (36%) and are taking responsibility for their bad spending and savings habits.

DINARRECAPS8 7/9/24 DINARRECAPS8 7/9/24

10 Industries That Are Double Billing You — How You Can Avoid Paying So Much

J. Arky Tue, July 9, 2024 GOBankingRates

When was the last time you took a good look at your bill to make sure that what you were charged for is the correct amount? You might want to start double-checking the fine print and doing the math yourself since several industries are getting called out for double billing customers.

You might be able to negotiate to get the charges reversed or a partial refund, but at the end of the day, that’s time and money down the drain.

How can you avoid paying so much and not get double billed? It all starts with knowing which industries are notorious for charging customers twice. Here are the ones to be on high alert for so you do not get billed twice over.

DINARRECAPS8 7/9/24 DINARRECAPS8 7/9/24

Social Security Will Run Out Of Money In Nine Years

Notes From the Field by James Hickman/Simon Black May 7, 2024

Social Security’s annual trust fund report was released yesterday… and, no surprise, the report states very clearly that trust fund balances “are projected to become depleted during 2033.”

Allow me to repeat that: Social Security’s most important trust fund will run out of money in nine years.

This is a fact, not some wild conspiracy theory; remember that the annual report is signed by top government officials including the United States Secretaries of the Treasury, Labor, and Health and Human Services… so the projection is about as official as it can get. But if you dive into the report, you quickly notice that even such a grim forecast may, in fact, be too optimistic.

DINARRECAPS8 7/8/24 DINARRECAPS8 7/8/24

Why The Dollar Will Lose Its Status As The Global Reserve Currency

Notes From the Field By James Hickman / Simon Black

By the early 400s, the Roman Empire was coming apart at the seams and in desperate need of strong, competent leadership. In theory, Honorius should have been the right man for the job.

Born into the royal household in Constantinople, Honorius had been groomed to rule, practically since birth, by the finest experts in the realm. So even as a young man, Honorius had already accumulated decades of experience.

Yet Rome’s foreign adversaries rightfully believed Honorius to be weak, out of touch, divisive, and completely inept.

DINARRECAPS8 7/7/24 DINARRECAPS8 7/7/24

Some Thoughts On America For Her 248th Birthday

Notes From The Field by James Hickman (Simon Black Sovereign Man) July 3, 2024

When the 56 delegates to the Second Continental Congress ratified the Declaration of Independence 248 years ago tomorrow, they were creating much more than a nation. They were giving birth to an idea.

America, at its core, is an idea. And it’s one that ranks as one of the greatest innovations in the history of human civilization, right up there with the wheel, the steam engine, the printing press, and the Internet.

The idea of America wasn’t born in 1776, however. By then it had already evolved over thousands of years.

DINARRECAPS8 7/6/24 DINARRECAPS8 7/6/24

Why Your Checking Account May No Longer Be Free

Ana Altchek Fri, July 5, 2024 Business Insider

Chase Bank's boss warned that new federal fee caps could make everyday banking more expensive.

Marianne Lake said the bank is planning to pass the pain of their lost profits on to customers.

Some new costs may be placed on now-free services like checking accounts and financial tools.

Everyday banking might be about to get more expensive for consumers.

Marianne Lake, the CEO of consumer and community banking at Chase Bank, said federal regulations to cap overdraft and late fees would take a bite out of the company's bottom line. And she warned that making up that loss would be passed on to consumers, according to a report from The Wall Street Journal.

DINARRECAPS8 7/5/24 DINARRECAPS8 7/5/24

7 Expenses That Will Drain Your Retirement Savings the Fastest

Casey Bond Fri, July 5, 2024

You’ve spent a good portion of your life working and saving for retirement. Once you reach that milestone, you want to feel confident that your nest egg is big enough to cover your needs in your golden years.

As you retire, it’s important to anticipate some of the costs eating into your savings. Here are seven expenses that can drain your retirement savings — and how to plan for them.

DINARRECAPS8 7/4/24 DINARRECAPS8 7/4/24

9 Surprising Items Professional Movers Won't Move

Did you know movers won't handle your nail polish remover? Seriously. Here's what your movers won't move under any circumstances.

Dan Thorp-Lancaster Wed, July 3, 2024

Professional movers will pack and transfer just about anything in your home, but they won't even touch some things. Federal regulations limit moving companies from handling anything deemed hazardous. That includes common household items such as nail polish remover.

Here's a list of other things you'll have to make alternate plans for before you move. You could squirrel some of them away and take your chances, but movers may make you sign a document to state you won't move any of the following items.

Potentially hazardous items you'll need to move yourself

DINARRECAPS8 7/3/24 DINARRECAPS8 7/3/24

Why So Few People Feel Secure About Money — Even When They Have Lots of It

And why the neighbors of lottery winners are often worse off.

Sean Kernan June 21, 2024·

I’m not rich by any means. But I’ve done well enough to be comfortable, mostly because I saved aggressively early in my career. Yet I still feel like I’m only a stone’s throw from being in poverty, which is slightly irrational.

I remember having no money and having to budget until my next paycheck or risk groveling to my parents for help. It wasn’t a good life. And it still feels like yesterday, even though so many years have passed. Sadly, many people feel this way.

And to some extent — this stress can be constructive. It can mitigate risky spending. You’ll certainly never catch me with problematic expensive hobbies. But I wish I could feel more at ease about my station in life. Many of my friends are in this same psychological boat too. My buddy Brian is a software engineer, who has been making north of $180K per year — for years on end — while living in a low-cost area, and he’s still as cheap as he’s ever been.

So why are we like this? How do we level up and counteract this financial anxiety?

DINARRECAPS8 7/3/24 DINARRECAPS8 7/3/24

Are You Rich? Here's What Americans Think You Need To Be Considered Wealthy

Jeannine Mancini Tue, Jul 2, 2024,

Bill Gates Was The 'World's Richest Man' For A Record 18 Years. His Secret To Success? 'Saving Like A Pessimist, Investing Like An Optimist'

Bill Gates, co-founder of Microsoft and one of the most influential figures in the tech industry, is renowned for his business acumen and unique approach to financial management. After dropping out of college at 19, Gates cofounded Microsoft with Paul Allen, transforming it from a small startup into a global tech giant.

In the United States, the concept of being rich is often a subject of discussion, curiosity and, sometimes, aspiration. Charles Schwab's 2023 Modern Wealth Survey provides insights into this topic, revealing that the average American equates being wealthy with a net worth of approximately $2.2 million.

DINARRECAPS8 7/2/24 DINARRECAPS8 7/2/24

5 Biggest Money Mistakes When Retiring in the Midwest

Gina Hagler Mon, July 1, 2024

Retiring with little to no savings is a situation that even Americans who made the effort to save can find themselves in. Creating a nest egg is the important first step, but there are a number of ways that you can end up poorly managing it — before and after retiring.

Some of the universal mistakes include taking on too much risk or withdrawing too much, too soon. While the Midwest is attractive to retirees for its relative affordability, retiring still requires careful planning.

If you’re retiring in the Midwest, these are the biggest areas of concern through which you could slip up, according to Johnson Wealth and Income Management.