What Is Money And Why Do We Need It?
.What Is Money And Why Do We Need It?
Articles Dr Muhannad Talib Al-Hamdi *
In this article, we review a topic that was most important, but it did not receive the attention it deserves because people take it as if it were an obvious thing. We will talk about the meaning of money, its role in the economy, and what are its uses, among other topics.
Can The Economy Run Without Money?
There are historical examples of economies in which people exchanged goods and commodities in exchange for goods and other goods. In Iraq, for example, when the Bedouins came to the cities, they would exchange their products of carpets, wool and other products in exchange for urban products such as tobacco, sugar, rice and others. But modern economies use cash to carry out trade. Money is defined as any asset that people own and accept by others in exchange for the goods and commodities that they sell or use for financial exchanges. An asset here is everything of value owned by a person or company.
Strategic Ways to Distribute Your Required Minimum Distribution
.Strategic Ways to Distribute Your Required Minimum Distribution
There are several ways to better preserve your account balance
By DENISE APPLEBY Updated Jan 24, 2021
As life expectancy increases, more people want to defer making withdrawals from their retirement accounts for as long as possible to ensure that their nest eggs will meet their retirement income needs. However, withdrawals must begin by a certain age to avoid penalties.
If you are at least age 72 as of 2020, you need to withdraw required minimum distribution (RMD) amounts from your traditional, SEP, and SIMPLE individual retirement accounts (IRAs). Depending on the provisions of the plan, you may also need to withdraw from your qualified, 403(b), or 457(b) plans.1
KEY TAKEAWAYS
Some distribution strategies—such as equalizing balances for your beneficiaries and rolling over excess amounts—may help you maximize your returns and minimize your tax burden.
A Conversation About Perceived Value
A Conversation About Perceived Value
A customer asked a contractor friend of mine how much it would cost to do this project.
My friend gave him a proposal: $4500
The customer responded: That’s seems really high.
My friend asked: What do you think is a reasonable price for this job?
The customer answered: $2500 maximum
My friend responded: Ok, then I invite you to do it yourself.
The customer answered: I don't know how to.
My friend responded: Alright, then how about for $2500 I'll teach you how to. So besides saving you $2000, you'll learn valuable skills that will benefit you in the future.
The customer answered: Sounds good! Let’s do it!
7 Key Home-Buying Numbers to Know
7 Key Home-Buying Numbers to Know
Shopping for a House? Here are 7 Key Home-Buying Numbers to Know
by Larissa Runkle Contributor JANUARY 25, 2021
There’s a lot that goes into buying a new home, starting with finding the right one all the way down to finalizing the paperwork. Somewhere in that process, you’ll likely find yourself trying to decipher myriad new terms and figuring out what they mean for you.
We’ve compiled this list of seven key numbers you’ll need to know when buying a home — plus the details on how understanding these terms can help you land your dream home.
50 Ways You’re Throwing Money Away
.50 Ways You’re Throwing Money Away
Sabah Karimi Updated Tue, February 2, 2021,
You probably don’t realize all the ways you’re wasting money and leaving free money on the table — and these little missteps can add up to big dollar losses. Fortunately, once you’re aware of these bad money behaviors, you can take steps to change them. Making small tweaks to your lifestyle and spending habits could pay off in a big way.
Keep reading to find out the costly money mistakes you’re making — and how to stop making them so you can keep more money in your wallet.
Throwing Money Away on Layaway
While layaway might seem like a sensible way to hold onto something you want to buy, it’s not always a smart way to net savings. That’s because layaway locks you into a certain price and — if ultimately financed by a credit card — additional interest charges.
What To Do If You’ve Depleted Your Savings Over the Last Year
.What To Do If You’ve Depleted Your Savings Over the Last Year
Gabrielle Olya February 1, 2021,
The coronavirus pandemic has led to millions of Americans losing their jobs, and oftentimes, unemployment income alone just isn’t enough to make ends meet. As a result, some Americans may have depleted all of their savings to make it through 2020.
A survey conducted by CNBC+ and Acorns last September found that 14% of Americans — up to 46 million people — had wiped out their emergency savings since the start of the pandemic. And a survey conducted by the Transamerica Center for Retirement Studies last May found that 15% of Americans had already dipped into their retirement accounts to cover living expenses, and an additional 13% planned to do so.
The Financial Advice Your Parents Gave You is… Outdated.
.The Financial Advice Your Parents Gave You is… Outdated. Here’s What to Do Instead
by Mike Brassfield Senior Writer
Pound the pavement. Just go and deliver your resume in person. Get out there and shake some hands, why don’t ya! We’ve all heard these financial pearls of wisdom from our parents (and not always because we asked). Despite their best intentions, a lot of these tips from our elders are, well… outdated. To say the least.
Here are six pieces of advice from our parents that simply don’t apply to us anymore — and some smarter options.
1. Work Your Way Through College
Working your way through college used to be an option — back when tuition cost a reasonable amount. That was a long time ago, though. Most colleges’ tuitions have easily doubled or tripled since the 1980s and ’90s. Working a job while you attend college can help pay the bills, but it won’t pay for college. That’s why so many of us are saddled with student loans.
Five Ways To Loosen Big Tech’s Grip On Your Life
.Five Ways To Loosen Big Tech’s Grip On Your Life
Notes From The Field By Simon Black
January 25, 2021 Bahia Beach, Puerto Rico
I imagine there are countless people right now who feel a wide range of emotions when it comes to Big Tech companies. Anger. Disgust. Confusion. Fear. We’ve watched with exasperation as Google, Facebook, Twitter, YouTube, etc. have systematically squashed intellectual dissent; their actions have been so commonplace that there’s even a name for it: “De-platforming”. We all know there’s a ton of garbage on the Internet, including from mainstream sources.
But de-platforming has proven to be wholeheartedly biased, totally arbitrary, and often comically ridiculous. This isn’t just about the election or the Capitol. For example, if you dare utter a word on social media that goes against the infinite and infallible wisdom of the Chinese-controlled World Health Organization, then you might find yourself banned.
Everything’s Fine, There’s Absolutely Nothing To See Here
.Everything’s Fine, There’s Absolutely Nothing To See Here
Notes From The Field By Simon Black January 19, 2021 Bahia Beach, Puerto Rico
In the darkest corners of our human instincts lies a psychological phenomenon that is the result of millions of years of evolutionary biology. It’s called “tonic immobility”. And it refers to a form of paralysis that occurs when we’re terrified and facing extreme mental or emotional trauma.
Tonic immobility is common in nature. Animals in the wild will often freeze in place when confronted by a predator; the idea is that making no movement, and doing absolutely nothing, increases their chances of survival because the threat will simply go away.
But as anyone who has ever been on safari or seen a nature documentary knows, the danger seldom goes away on its own.
How To Start A Nonprofit Organization
.How To Start A Nonprofit Organization
Posted on January 12, 2021 by fritz@theretirementmanifesto.com
A few years ago, my wife asked how to start a nonprofit organization. Recently retired, she wanted to “give back” to society. She wanted to start a charity. She’s not alone.
Many retirees find that retirement is a great time to give back. Many have considered starting a charity. If you’re thinking about ways you can truly make an impact, this post is for you. Today, we’ll answer the question of How To Start A Nonprofit Organization, with a 10 Step Overview of how to create a 501c3 corporation.
Fortunately, my wife and I figured out the steps. She’s now fully engaged in running Freedom For Fido (“FFF”), the legally incorporated 501c3 nonprofit organization (NPO) she founded in 2019. The impact she’s had on our local community has exceeded her wildest expectations, and she’s found a true Purpose for her retired years. We answered the question of “How to start a nonprofit organization”, and we learned some things along the way. Today, we share our learnings with you.
The Dave Ramsey 7 Baby Steps: Pros & Cons of His Method
.The Dave Ramsey 7 Baby Steps: Pros & Cons of His Method
If you have been looking for financial advice, then you’ve probably come across the name Dave Ramsey and his 7 Baby Steps in your research. Over the years, Dave has quickly become one of the most popular financial “gurus” in the space and has offered helpful advice to thousands of people. But there are plenty of people offering financial advice out there that it can be difficult to know who to trust and what methods are worth following. He can also be a fairly controversial figure, which has garnered him some flack about his workplace policies and methods. However, I’m not here to judge him on these aspects.
Instead, I’m exploring his 7 Baby Steps and if they are worth following to better your finances.
Who is Dave Ramsey? Financial freedom guru, radio presenter, and businessman with a cult following; Ramsey specializes in helping individuals complete their own total money makeover. He covers all aspects of personal finance; including credit cards, interest rates, student loans, Roth IRAs and daily budgeting. His unique emergency fund and “debt snowball” methods have garnered him a huge following around the globe.