Ask 9 Questions To Choose the Right Financial Advisors

Rachel Cruze: Ask 9 Questions To Choose the Right Financial Advisors

Ashley Donohoe  Sun, February 23, 2025  GOBankingRates

Whether you’re selling a house, choosing tax strategies or making a retirement portfolio, handling complex financial situations on your own can lead to costly mistakes, missed opportunities and possibly legal issues. Money expert Rachel Cruze advises partnering with various types of financial advisors who have the knowledge to help you make better decisions and ensure you’re building wealth properly.

However, you should be prepared to put some time into finding trusted people who will focus on what’s best for your situation rather than just their profits from commissions or fees.

In a recent YouTube video, Cruze highlighted nine questions to ask when attempting to choose the right financial advisors — three each for tax and investing professionals.

Real Estate Agents

1. How Many Homes Did You Sell Last Year?

Asking an agent this question might help you avoid having your home on the market for too long. It will give you an idea of the agent’s selling skills and experience to compare with other potential agents.

The Consumer Financial Protection Bureau also suggested asking related questions about the types of properties the person has sold and their neighborhoods.

2. What’s Your Schedule and Availability Like?

Cruze discussed how the schedule of  agents can widely vary and impact your experience. For example, a full-time agent might be more dedicated to helping you any day of the week versus someone who occasionally sells houses as a side job. Make sure the potential agent has the time to meet with you when you’re available and will be committed.

3. How Much Commission Do You Get?

TO READ MORE:  https://www.yahoo.com/finance/news/rachel-cruze-ask-9-questions-120106343.html

The US Government Has To Sell $28 Trillion Of Debt In The Next 4 Years

The US Government Has To Sell $28 Trillion Of Debt In The Next 4 Years

Notes From the Field BY James Hickman ( Simon Black )  February 19, 2025

Last summer, the Federal Reserve wanted you to believe that inflation was a thing of the past.

Sure, just about every category of consumer goods had increased in price. Electricity rates had increased 5% year over year. Rent and housing costs were up 5%. Hospital care had become 6% more expensive. Food prices were up. Fuel prices were up. Auto insurance had risen by a whopping 18.6%.

Yet, bizarrely, the overall inflation average was just 2.9%. And based on that number alone, the Federal Reserve had all but declared victory against inflation.

We knew it was BS. And, after diving into the numbers, it didn’t take us very long to realize why.

It turned out that, back in the summer of 2024, used car prices were falling dramatically— down around 11% year-over-year.

You probably remember what happened: during the pandemic, supply chain snarls and factory closures caused used car prices to go through the roof. Eventually, prices peaked... and then started to fall.

By July 2024, used car prices were still on their way down... essentially returning to a more ‘normal’ level. And based on the way that the government calculates inflation, the huge drop in used car prices dragged down the overall average, making the headline inflation rate appear smaller than it really was.

We wrote about this last summer. And we predicted that the decline in used car prices would soon cease... essentially eliminating the key drag that was holding the inflation rate down.

That has now happened. And as of last month, used car prices are no longer falling... and the overall rate of inflation is once again on the rise.

This is where our discussion begins in today’s podcast, and it’s an important one. We talk about why, at this point, lingering inflation is a major challenge. And it’s becoming a more likely scenario.

There are obviously some forces within the government that are working really hard to cut spending. There are also legions of misguided (or flat-out corrupt) politicians who are fighting to prevent those budget cuts from happening.

It’s a see-saw right now and could go either way. But, at least for now, the government is still spending taxpayer money like a drunken sailor.

Last year’s budget deficit was nearly $2 trillion. They’re already on track to repeat that this year. All of that deficit spending adds to the $36+ trillion national debt.

But what makes matters even worse is that an unbelievable $28 trillion of the national debt will have to be refinanced over the next four years, according to Federal Reserve data. (We show you the Fed’s data in the podcast— it’s a chart you’ll want to see.)

The key problem, of course, is that interest rates are significantly higher today than they were several years ago. So when the Treasury Department refinances that $28 trillion in debt, it will be at a MUCH higher rate.

Think about it— if most of that debt was sold at a 2% rate, but now they have to refinance at 5%, then that’s an extra 3% interest to pay on $28 trillion— or $840 billion per year in additional interest.

Remember that the government’s interest bill is already $1.1 trillion per year. So in four years it could easily eclipse $2 trillion per year. Again, this is just the amount of interest.

It’s also pretty clear that a lot of foreign governments and central banks— who own a huge chunk of that $28 trillion which needs to be refinanced— are looking to diversify away from the dollar.

It’s already happening; obviously there are the loudmouthed BRICS countries that have started trading with one another in their own currencies, and thus begun reducing their dollar holdings. But even supposed ally nations in Europe are starting to trade their US dollar reserves for gold.

This is setting up a precarious situation... because if foreign governments and central banks continue reducing their dollar exposure, then who is going to buy up all that $28 trillion worth of US government debt that needs to be refinanced?

Well, the only remaining lender is the Federal Reserve. And as we’ve discussed before, the Fed buys government bonds by printing money... which ultimately causes inflation.

During the pandemic, the Fed printed $5 trillion and we got 9% inflation. Over the next four years the Fed might have to print a good chunk of that $28 trillion just to help refinance US government debt. So what will inflation be? No one knows. But probably not their magical 2% target.

The only way out is to slash government spending. And certainly there is a lot of low hanging fruit for DOGE to cut, which could get the deficit (and therefore inflation) under control.

But this is far from a risk-free proposition. And that’s why it still makes so much sense to have a Plan B.

We discuss all this, and more, in today’s podcast— and we hope you take time to listen in here.

(For the audio-only version, check out our online post here.)

To your freedom,  James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/podcast/the-us-government-has-to-sell-28-trillion-of-debt-in-the-next-4-years-podcast-152106/

'It's An American Duty To Not Pay Our Taxes' — Robert Kiyosaki Proudly Says

'It's An American Duty To Not Pay Our Taxes' — Robert Kiyosaki Proudly Says He's $1.2 Billion In Debt Because It Legally Leaves Him Tax-Free

Jeannine Mancini  Thu, February 20, 2025  Benzinga

You've heard it a million times—debt is bad, get out of debt, Americans are drowning in debt. The headlines paint it as the ultimate financial nightmare. But not everyone sees it that way. Best-selling "Rich Dad Poor Dad" author Robert Kiyosaki proudly boasts about being $1.2 billion in debt—and according to him, that's exactly how he legally avoids paying taxes.

How Kiyosaki Uses Debt to His Advantage

In a January 2024 Instagram video captioned "Confession: This is why I am $1.2 billion in debt," Kiyosaki explained his controversial stance.

"Today, I own about 12,000 rental units. How did I acquire those properties? I used debt. See, the more debt I use, the more property I own, the less tax I pay," Kiyosaki said.

He went on to argue that taxes are a "Marxist idea," referencing "The Communist Manifesto." "And people say, ‘Well, you should pay taxes.' No, we shouldn't. America was founded as a tax-free nation... We were tax-free until 1913 when the Fed was created. The same year, guess what else was created? The IRS."

Kiyosaki didn't stop there. He took it a step further, declaring, "And I think it's an American duty not to pay our taxes. Because if you read the Communist Manifesto, you'd know why."

Kiyosaki's strategy relies on leveraging debt to acquire income-generating real estate while taking advantage of tax laws that allow deductions, depreciation, and other benefits. And he's not just talking about it—he's doing it.

The Real Estate Tax Advantages

Kiyosaki's approach isn't some loophole; it's built into U.S. tax law. Real estate investing offers several legal ways to reduce taxable income:

TO READ MORE:  https://finance.yahoo.com/news/american-duty-not-pay-taxes-150047669.html

5 Best Dave Ramsey Money Tips To Adopt in 2025

5 Best Dave Ramsey Money Tips To Adopt in 2025

Cara Danielle Brown   Wed, February 19, 2025  GOBankingRates

Personal finance expert Dave Ramsey has become one of America’s most trusted voices for individuals wanting to learn how to take control of their money. From paying off debt to getting on a budget, Ramsey’s guidance has helped millions become educated and empowered.

With 2025’s financial climate off to a strong yet erratic start, some are looking to the finance guru, wondering which of his money tips are most useful to adopt in real time. Here are five that could help put you on the right path.

Pay Off Your Debt

“One of Ramsey’s foundational principles is eliminating debt,” said Melanie Musson, insurance and finance expert at Clearsurance.com. “Instead of seeking out new debt, people should seek to pay off their debts and avoid borrowing more. … Avoiding debt allows you to live freely.”

Consider the current climate: Interest rates remain high at 4.25% to 4.5%, and the Fed has indicated they are in no rush to lower them. Additionally, the global economy is facing uncertainties by way of geopolitical tensions and fluctuating currency values. And, according to Federal Reserve Data from November 2024, big banks are charging the average consumer 22.8% interest on credit cards.

Failing to pay down debt at any time — but particularly in the current economy — will quite literally compound the problem.

Thomas Alessi, president at ARIES Foundation for Financial Education, supports Ramsey’s debt snowball method — a strategy where individuals pay the minimum amount on all their debts except for the smallest one, which is paid off more aggressively. When the smallest debt has been cleared, the next-smallest takes priority, and so on.

Clearing debts in ascending order is a psychological trick that gives people confidence and focus, explained Alessi. “We can start to see our way out, and it allows us to feel empowered in handling our finances.”

Cut Back on Discretionary Spending

When it comes to saving money, Ramsey advocates cutting back on non-essential spending by distinguishing between a need and a want. As a Ramsey Solutions article on his website explained, needs are essentials, like food and shelter, while wants consist of non-essentials you desire but can live without — like home upgrades and entertainment.

TO READ MORE: https://www.yahoo.com/finance/news/5-best-dave-ramsey-money-150014042.html

This Is the Max Number of Bank Accounts You Should Have

Self-Made Millionaire: This Is the Max Number of Bank Accounts You Should Have

Gabrielle Olya  Wed, February 19, 2025   GOBankingRates

In her book “Crush Your Money Goals,” financial coach and self-made millionaire Bernadette Joy writes that the first step toward achieving financial freedom is to “curate” your financial accounts. This means reviewing every financial account you have open — your bank accounts, credit cards, loans and properties in your name. Once you have a list of your accounts, it’s time to streamline them and consolidate them into 20.

 “When it comes to achieving financial independence, the fewer accounts you have, the fewer opportunities for mistakes or precious money to fall through the cracks,” she wrote.

Think of each of your financial accounts as a separate handbag,” Joy continued. “Having multiple checking, savings and investment accounts and credit cards is like carrying around an armful of handbags with just a little bit of money in each. It’s not efficient and it feels a little silly.”

While Joy recommends having 20 financial accounts total, your bank accounts should be a small fraction of that.

How Many Bank Accounts Should You Have?

According to Joy, you should have no more than three bank accounts — or four if you own a business.

TO READ MORE:  https://www.yahoo.com/finance/news/self-made-millionaire-max-number-190026431.html

4 Best Money Lessons From Elon Musk

4 Best Money Lessons From Elon Musk

July 10, 2023 By Yaёl Bizouati-Kennedy

Elon Musk — still the world’s richest man, with a $243 billion net worth as of July 10, according to the Bloomberg Billionaires Index — is at the helm of several companies. From Tesla to SpaceX, and from Neuralink to The Boring Company — and most recently, Twitter — Musk is no stranger to controversy and is known for speaking his mind.  Not everything Elon Musk has done, financially speaking, has been exemplary. However, Musk’s best money moves are at the center of many commentaries, however, and four follow.

PayPal: An Early Mind for Bold Investing

Musk founded X.com, later named PayPal, and sold it to eBay for $1.4 billion in 2002, according to The Wall Street Journal. He collected $100 million from the deal.

“One of Elon’s best financial moves was placing most of his net worth into Paypal, at a time where the ‘.com’ world was seriously taking off,” said Sebastian Jania, owner of Ontario Property Buyers.

Upon successful growth of this company, he sold it and was paid handsomely — but instead of cashing out of the “entrepreneurship game” and living on the proceeds, he recycled his money into three more businesses which also took off as successes, said Jania.

“This was a very wise decision as he was able to take his successes in the tech industry and diversify across solar, automotive, and space industries. This move protected him in case the tech industry or other industries would crash.”

Musk Reinvests Profits Into his Visions

Elon Musk has made billions of dollars from his ventures but doesn’t all profits on lavish lifestyles or frivolous things, said Anna Koval, co-founder and CMO at Tarotoo.

“Instead, he reinvests his profits into his vision of making humanity a multi-planetary species and advancing clean energy and transportation. This shows his passion, dedication, and long-term thinking, which are essential for any successful entrepreneur.”

TO READ MORE: https://www.gobankingrates.com/money/wealth/4-best-money-lessons-from-elon-musk/?utm_term=incontent_link_3&utm_campaign=1237686&utm_source=yahoo.com&utm_content=6&utm_medium=rss

4 Steps To Take When Your Emergency Fund Doesn’t Cover Your Emergency

4 Steps To Take When Your Emergency Fund Doesn’t Cover Your Emergency

David Nadelle  Mon, February 17, 2025   GOBankingRates

Having a financial safety net to cover unexpected medical costs, the loss of a job or income, or large expenses, like car repairs or appliance replacements, is essential.

However, while you won’t have to look hard to find tips on starting and maintaining an emergency fund, there’s not a lot of useful information out there to assist you when your emergency fund falls short in covering an emergency

Here are four things to do if an emergency has emptied out your emergency fund.

Stop Spending

When inflation and consumer prices stretch your income to the limit, finding extra money to fund an emergency reserve is difficult. However, it’s generally recommended that you sock away three to six months’ worth of expenses as your emergency fund goal, depending on your lifestyle and living situation.

Hindsight being 20/20, of course, you could have saved more to prepare for an emergency. But financial crises are unforeseen and you can’t live your life sacrificing all enjoyment for the sake of hoarding cash. If you do find yourself without the funds to pay an emergency expense, you’ll need to start cutting back where you can by reducing, pausing or eliminating.

Discretionary spending on new clothes, restaurant outings and indulgent services or subscriptions need to be assessed and excised in times of financial burden. If necessary, temporarily downgrade your cell service or insurance needs and start penny-pinching at the grocery store.

Pay the Minimum on Credit Cards

Not having to rely on credit cards or high-interest loans will help you avoid adding to your debt if you have an emergency fund. But what about existing debt that still needs paying off?

TO READ MORE:  https://www.yahoo.com/finance/news/4-steps-emergency-fund-doesn-190025271.html

Mark Cuban’s Simplest Money Advice That Anyone Can Use

Mark Cuban’s Simplest Money Advice That Anyone Can Use

Jennifer Taylor   Sun, February 16, 2025  GOBankingRates

He’s a billionaire, but many of Mark Cuban’s spending habits are surprisingly relatable. While he owns a private jet, the businessman hasn’t forgotten his middle-class upbringing. Over the years, he’s given plenty of interviews, and often shares money advice that can apply to anyone.

Here’s a look at five of Cuban’s simplest financial tips that you may want to try out.

Live Like a Student

When get your first job, it can be tempting to upgrade your lifestyle, Cuban told Vanity Fair. When he was in this position, he said he was tempted to buy a new car, but didn’t.

Instead, he said he kept his old car, which is decision he’s proud of to this day. Living like a student will keep your bills down, so you can avoid going into debt.

In fact, this advice could be tailored to anyone. If you’re struggling to make ends meet, cut costs by scaling your lifestyle back.

Don’t Use Credit Cards

They’re convenient in more ways than one, but Cuban advised against using credit cards in the interview. Personally, he said he remembers getting calls from bill collectors every two minutes.

If you don’t want to pay with cash, he recommended using a debit card. This will give you the convenience of paying with plastic, without the temptation to overspend.

TO READ MORE:  https://www.yahoo.com/finance/news/mark-cuban-simplest-money-advice-150031872.html

3 Pieces of Financial Advice From Amazon Founder Jeff Bezos

3 Pieces of Financial Advice From Amazon Founder Jeff Bezos Have Stood the Test of Time

Kristopher Kane  Sun, February 16, 2025  GOBankingRates

Jeff Bezos is one of the richest people on the planet, so his insights on wealth creation and management come from a truly unique vantage point. Bezos keeps a low profile compared to some other billionaires, but he has dispensed financial advice from time to time over the years.

His range of strategies and observations are the kind of advice that anyone — from people just beginning their financial journeys to top-tier entrepreneurs and CEOs — can learn from. Here are three of his best pieces of advice that you can apply to your financial planning.

Think Long Term

Bezos is a believer in the “buy and hold” school of thought. Rather than focusing on elusive short-term goals, he focuses instead on more distant horizons. He’s held several investments for 10 years or more.

In the billionaire’s view, a long-term perspective is necessary for success. Success isn’t realized through immediate gains and risky investments but through assets and objectives achieved over time.

Focus On Cash Flow

Bezos emphasizes the importance of keeping your eye on the bottom line. In a 2004 letter to Amazon shareholders, he wrote, “Our ultimate financial measure … is free cash flow per share.”

While he was referring to Amazon’s business model, this translates to personal finances: The value of your investments or savings is linked to — if not dictated by — the state of your current and forecasted cash flow.

An increase in income translates into a greater ability to take advantage of lucrative investment opportunities or bolster existing savings. Improving your future cash flow increases your ability to save or invest more effectively, which positions you in the long term to realize optimal returns on investments.

TO READ MORE:  https://www.yahoo.com/finance/news/3-pieces-financial-advice-amazon-120035808.html

20 Tips for Managing Stress in 2025

20 Tips for Managing Stress in 2025

The new year often brings excitement and optimism, but it can also come with stress from setting goals, balancing responsibilities, and navigating uncertainties. As we step into 2025, let’s prioritize mental and emotional well-being with these 20 stress busters that help you stay tension-free and focus on a healthier, happier life.

1. Practice Mindful Breathing

Take a few moments each day to focus on your breathing. Deep, slow breaths can calm your nervous system, reduce stress, and enhance focus. Try the 4-7-8 breathing technique: inhale for 4 seconds, hold for 7, and exhale for 8. You can practice Soma Breathing. 

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2. Start Your Day with Gratitude

Begin each morning by listing three things you’re grateful for. Gratitude shifts your mindset and helps you focus on the positives rather than the stressors. Listen Gratitude Voice that comes from within.

3. Declutter Your Space

A clutter-free environment promotes a clutter-free mind. Spend 10 minutes daily organizing your surroundings to create a calming space.

4. Stay Physically Active

Exercise releases endorphins, the body’s natural stress-relievers. Whether it’s yoga, jogging, or a quick home workout, physical activity boosts mood and lowers anxiety.

5. Set Realistic Goals

Break down your big goals into manageable tasks. Unrealistic expectations often lead to unnecessary stress, so be kind to yourself when setting resolutions.

6. Try Journaling

Write down your thoughts, feelings, and plans. Journaling can help process emotions, gain clarity, and track progress toward your goals.

7. Embrace Digital Detox

Constant notifications can overwhelm your mind. Dedicate time each day to disconnect from screens and reconnect with yourself or loved ones.

8. Practice Time Management

Stress often stems from feeling overwhelmed. Use tools like to-do lists, calendars, or apps to organize your tasks and prioritize effectively. Learn Time Management Strategy .

TO READ MORE:  https://jiyofullest.com/blog/stress-busters-to-stay-tension-free/

Is This the Biggest Heist of All Time?

Is This the Biggest Heist of All Time?

Notes From the Field By James Hickman (Simon Black) February 11, 2025

We recently received a question from a reader asking for my thoughts on crypto.

He said we’ve been talking about gold a lot lately, the gold price, and how the price could go a lot higher. Shouldn’t we hold the same views on crypto, given everything that has happened with Bitcoin over the last year or so?

We ended up doing a whole podcast about this today, We talk a lot about gold, and a lot about crypto. To clarify, I’m not anti-crypto. In fact, I brought Bitcoin to our audience’s attention back in 2013, when the price was under $100.   But there are some differences to gold.

Right now, I think there are some major catalysts that could drive the price of gold much higher. It’s a matter of arithmetic, and we walk you through the math on it.

The other important thing is that while gold is at an all time high, gold related businesses have been in the dumps for a long time. And that’s a bizarre anomaly that is simply not going to last.

Conversely, that same dynamic doesn’t seem to exist with crypto related businesses.

And we talk about, in today’s podcast, Microstrategy, as perhaps the best example.

This is essentially now a Bitcoin holding company, with 478,000 Bitcoin, valued at around $45 billion. Yet Microstrategy’s market cap is almost double that.

So if the point is to buy Microstrategy stock as a proxy for Bitcoin, you’re actually paying double the price.

Versus with gold, we have the opportunity to pay less than two times forward earnings for gold companies that have an all in production cost of $1,500 per ounce— roughly half the price of gold.

So it’s a completely different dynamic, and we explore all this and more in today’s podcast.

We even talk about the Microstrategy convertible notes, and why it’s frankly wildly inappropriate at this point to even compare “crypto” and gold.

You can listen to the podcast here.

(For the audio-only version, check out our online post here.)

To your freedom,  James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/podcast/is-this-the-biggest-heist-of-all-time-podcast-152072/

With Gold At an All Time High

With Gold At an All Time High, This Gold Company is Still Insanely Cheap

Notes From The Field By James Hickman (Simon Black) February 10, 2025

And almost on cue, gold is at another all time high today and rapidly closing in on $3,000 per troy ounce.

It’s not hard to understand why.

We’ve been talking about this for quite some time— foreign governments, central banks, and even some large foreign corporations now are trading their dollars for gold. And that’s going to have some unfortunate, negative consequences for the US.

I’m sincerely pulling for Elon and DOGE. I really am. And I think they’ve got a great shot at cutting hundreds of billions of dollars from the federal budget. These guys aren’t messing around and have no qualms about cutting everything that doesn’t make sense.

I also hope Congress and the White House find the courage to make critical reforms to Social Security (though I am less optimistic about that one).

And the final piece to the puzzle of getting America back on track, of course, is slashing regulation and getting back to capitalism. There certainly seems to be a lot of momentum in this direction.

The math is pretty clear: if they manage to succeed at these key challenges, then there is a good chance for the US to grow its way out of debt. But even that is going to take many, many years.

In the meantime the Treasury Department will still need to rely heavily on foreigners to buy (and continue to hold) US government bonds.

I’ve explained before that foreigners own roughly half of all fixed-rate, “marketable” US government debt. So they’re a pretty important lender.

And in order for this turnaround plan to work, the Treasury Department will need those foreign bondholders to keep investing and reinvesting in America’s national debt.

But right now there are a lot of foreign countries that are deeply concerned about holding US Treasury securities. This administration has already threatened even its friends and neighbors with tariffs, and the last administration had an endless fetish for sanctions.

Think about it like this: imagine you hold a good chunk of your money in a faraway bank, and your banker was constantly threatening to freeze your account and cut off access to your funds.

Sure, maybe it’s a very nice and prestigious bank. But after so many threats, would you still keep all of your money there? Would you still want your paycheck direct deposited into that bank, month after month? Or would you start looking around at alternatives?

That’s what’s driving the gold price right now. Foreign governments and central banks are wary about holding official US securities, gold is the most viable alternative. Just like dollars, gold has universal marketability— no central banker is worried about whether they’ll ever be able to sell their gold.

Plus virtually every other government and central bank owns gold, which means it can already be used to settle current and capital account deficits if necessary.

Concern over sanctions, inflation, and America’s gargantuan national debt led foreign officials to buy up more gold over the past couple of years. Overall, they made roughly $80 billion in excess gold purchases in 2023-2024, causing the gold price to jump from about $1,800 to over $2,900.

$80 billion is a drop in the bucket for foreign governments and central banks; they have 100x that much worth of US dollar reserves.

So if $80 billion of excess purchases resulted in a $1,000+ price jump in the gold price, what will happen if they buy $1 trillion or more in gold? That’s the potential scenario that could play out.

Either way, gold is at an all-time high today. But, quite bizarrely, gold-related companies are still at ridiculously cheap levels.

To give you an example, there is a company we presented not long ago to subscribers of The 4th Pillar, our premium investment research service; it’s a profitable gold company with an excellent, clean balance sheet, very little debt, and strong growth. In fact the company even pays a healthy dividend to shareholders.

Yet when we published our research on the company, it was only valued at a mere 5x Free Cash Flow. That’s practically nothing.

The stock has now more than doubled in price as some investors are starting to realize what we discovered and presented to our subscribers many months ago.

But even now, because current and projected earnings have continued to increase, the company is still extremely undervalued even though it doubled in price.

We still see a number of similar opportunities, i.e. gold-related businesses that may be paying strong dividends, have debt-free balance sheets, and are profitable, yet still trade at outrageously low valuations despite gold’s all-time high.

Another report we sent out to our premium subscribers just last week profiled an undervalued gold mining company that has an all-in production price of just $1,500 per ounce. And yet the business is valued at TWO times its expected earnings this year.

It’s really unusual to see such an anomaly, and it almost certainly will not last.

To your freedom,  James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/with-gold-at-an-all-time-high-this-gold-company-is-still-insanely-cheap-152066/

10 Money Rules To Build Life-Changing Wealth

10 Money Rules To Build Life-Changing Wealth, According to Ramit Sethi

Diana Kelly Levey GOBankingRates   Sun, February 9, 2025

You probably have a few money rules that you made for yourself, like setting a budget when you go clothes shopping, never looking at the menu prices when you eat out or setting aside a certain percentage of your income for savings.

Podcaster, author and financial guru Ramit Sethi isn’t shy about voicing his thoughts on money, particularly when it comes to “money rules.” In a video from his YouTube Channel, “I Will Teach You To Be Rich,” Sethi dove into his top 10 money rules for building life-changing wealth.

As Sethi noted in the video, these are his rules. They make him feel happy and secure, and they allow him to continue building wealth. They won’t all work for us — ahem, most Americans can’t afford to buy a house in cash — but you should be able to find ideas from which you can borrow philosophies to help develop and formulate your own unique money rules.

Set Aside a One-Year Emergency Fund

Sethi acknowledged that he’s one of the few personal finance experts to suggest something that extreme — or should we say conservative? Most money experts recommend an emergency fund to cover three to six months’ worth of expenses.

The U.S. Bureau of Labor Statistics found that Americans spent about $73,000 in 2022, up about 9% over the previous year. If piling up $73,000 for a one-year emergency fund sounds daunting, start small. “If something really bad happens, I have extra cash available to tide things over,” Sethi said.

Apply the Rules of 10 and 20

Sethi said he saves 10% and invests 20% of his gross income at a minimum. In his book “I Will Teach You to Be Rich,” Sethi suggested saving 5% to 10% and investing 5% to 10% as part of a conscious spending plan (aka a budget).  So why are his money rules different?

You need to increase the amounts you save and invest as you earn more money, he suggested. If you followed the popular 50/30/20 rule, 50% of your money would go to necessities, 30% to discretionary items and 20% to savings. How you’d want to split that up between emergency funds, general savings and investing is personal.

Pay In Full for Large Expenses

This money rule suggests you have enough money set aside that you’re able to pay in full for large expenses, such as a wedding or a house. As part of this, Sethi has adopted a no-debt policy in his household. And yes, he said he started saving for his wedding before he ever met his now-wife.

Why so strict on this money rule? “I don’t want cost to be the first reason to make a decision, the second or even the fifth,” Sethi said.

Never Question Spending On Books, Appetizers or Charity

TO READ MORE:  https://www.yahoo.com/finance/news/10-money-rules-build-life-160025454.html