8 Things You Can Do Right Now to Protect Against Inflation
.8 Things You Can Do Right Now to Protect Against Inflation
Adam McFadden
Looking for ways to put your money to work?
There’s no doubt about it, inflation is here in a big way. So how can you put your money to work to stay ahead of it? The good news is there are some things you can do to protect and possibly grow your money in an inflationary economy. We cover some of these suggestions below for those who are looking to make the best use of their money during this time of high inflation.
3 Key Takeaways:
8 Things You Can Do Right Now to Protect Against Inflation
Adam McFadden
Looking for ways to put your money to work?
There’s no doubt about it, inflation is here in a big way. So how can you put your money to work to stay ahead of it? The good news is there are some things you can do to protect and possibly grow your money in an inflationary economy. We cover some of these suggestions below for those who are looking to make the best use of their money during this time of high inflation.
3 Key Takeaways:
Inflation can be a challenge for everyone, especially those with little to no exposure in the stock market or a lot of extra cash sitting around.
Taking steps to lessen the impacts of inflation on your finances is key, whether it’s through investing or cutting costs.
The ultra-rich know that diversification across several different asset classes that outperform the market during inflationary times is key. These could include alternative investments like contemporary art, real estate, peer-to-peer lending, and more.
Refinance Your Mortgage to Lock in Historically Low Rates
As the inflation rate climbs, interest rates are likely to climb as well. If you haven’t already, you may want to consider moving sooner than later to refinance your mortgage as mortgage experts do expect rates to continue rising in 2022. One way to see if refinancing can save you money is to use a service like Lendgo. Lendgo is an easy-to-use platform that allows you to compare rates from a robust network of lenders with nationwide coverage all in one place. You can get quotes in as little as two minutes from multiple lenders. Lendgo states refinancing can save an average of $7,824 a year in mortgage payments. Comparing quotes through Lendgo is free and won’t affect your credit.
Own Productive Assets That Generate Income
If stocks don’t interest you, you can opt to invest in real estate — just not in the traditional sense. Instead of purchasing an entire property, you can purchase shares and earn passive income through Arrived Homes, a real estate crowdfunding site. Arrived Homes offers shares of income-producing rental properties that are single-family homes for as little as $100 and up to $20,000 each. You can build an investment portfolio across different properties while Arrived handles all the management duties. And the best part is that you won’t have to spend hundreds of thousands to buy an entire property and take on the role of a landlord to invest.
Diversify Your Investments In a Few Clicks
To continue reading, please go to the original article here:
https://www.gobankingrates.com/what-to-do-with-your-money-during-high-inflation/
Surprise, Shock, and Uncertainty
.Surprise, Shock, and Uncertainty
Mar 3, 2022 by Morgan Housel
A couple things I’ve been thinking about in the last week:
The world breaks every decade or so. There are so few exceptions to this it’s astounding.
What Covid-19 and the Ukrainian invasion have in common is that both have happened many times before but westerners considered them relics of history that wouldn’t resurface in their own modern lives. Maybe the common lesson is that there are difficult parts of humanity that can’t be outgrown.
However crazy the world looks, it can get crazier. History is just a long story of the unthinkable happening, precedents being broken, and people reading the news with bewilderment and denial.
Surprise, Shock, and Uncertainty
Mar 3, 2022 by Morgan Housel
A couple things I’ve been thinking about in the last week:
The world breaks every decade or so. There are so few exceptions to this it’s astounding.
What Covid-19 and the Ukrainian invasion have in common is that both have happened many times before but westerners considered them relics of history that wouldn’t resurface in their own modern lives. Maybe the common lesson is that there are difficult parts of humanity that can’t be outgrown.
However crazy the world looks, it can get crazier. History is just a long story of the unthinkable happening, precedents being broken, and people reading the news with bewilderment and denial.
“History doesn’t crawl; it leaps,” says Nassim Taleb. The most important events tend to be abrupt, out of the blue, changing the world before people have time to rub their eyes and understand what’s happening.
There is a “shock cycle” for all big news events. It goes like this:
Assume good news is permanent.
Oblivious to bad news.
Ignore bad news.
Deny bad news.
Panic at bad news.
Accept bad news.
Assume bad news is permanent.
Ignore good news.
Deny good news.
Accept good news.
Assume good news is permanent.
In general people have no idea where they are in this cycle until after the fact.
Uncertainty amid danger feels awful. So it’s comforting to have strong opinions even if you have no idea what you’re talking about, because shrugging your shoulders feels reckless when the stakes are high. Complex things are always uncertain, uncertainty feels dangerous, and having an answer makes danger feel reduced. We want firm answers when things are the most uncertain, which is when firm answers don’t exist.
Historian B. H. Liddell Hart wrote:
We learn from history that complete victory has never been completed by the result that the victors always anticipate—a good and lasting peace. For victory has always sown the seeds of a fresh war, because victory breeds among the vanquished a desire for vindication and vengeance and because victory raises fresh rivals.
To continue reading, please go to the original article here:
https://www.collaborativefund.com/blog/surprise-shock-and-uncertainty/
10 Female Financial Leaders Share the Best Money Advice They Ever Received
.10 Female Financial Leaders Share the Best Money Advice They Ever Received
Jaime Catmull Mon, March 7, 2022
With a plethora of money advice out there, it can be hard to know what’s actually good advice and what you can skip. So to find tips you can trust, I spoke to women who work in the financial industry about the best advice they personally have received.
Here are their favorite pieces of money advice.
Tanya Van Court, Founder and CEO, Goalsetter
“No matter how much money you make, you can have a wealthy mindset. People with a wealthy mindset use their dollars to build their own wealth instead of using their dollars to make others wealthy.
10 Female Financial Leaders Share the Best Money Advice They Ever Received
Jaime Catmull Mon, March 7, 2022
With a plethora of money advice out there, it can be hard to know what’s actually good advice and what you can skip. So to find tips you can trust, I spoke to women who work in the financial industry about the best advice they personally have received.
Here are their favorite pieces of money advice.
Tanya Van Court, Founder and CEO, Goalsetter
“No matter how much money you make, you can have a wealthy mindset. People with a wealthy mindset use their dollars to build their own wealth instead of using their dollars to make others wealthy.
That means having an attitude towards money that is more focused on how you can multiply it versus how you will spend it. For example, I have two friends who both have the same salary. One spends that money on rent, a nice car, designer clothes and lives paycheck to paycheck.
The other has a mortgage and rents out some of the space to subsidize the payment, buys cars at auction and then resells them for a higher price, and never pays full price for clothes. By doing this, she is freeing up a lot of money that can be invested and will grow over time to serve her in the future.”
Samantha Melting, Senior Vice President and Head of Consumer Bank, Synchrony
“The best advice I have ever received is to invest in you by paying yourself first. When you make yourself the priority, you are investing in your future self and positioning yourself to be financially resilient for whatever comes your way. Doing this has also created a positive relationship with money for me.
It has given me opportunities to make smart decisions, reach new goals and reduce the stress of unexpected financial challenges.”
Jessica Bieligk, Chief Commercial Officer, Paceline
“The best financial advice I’ve received was from my parents. It was to always spend within my means and to approach my finances the same way I approach my career, my relationships and my well-being — set goals, show up, be intentional and be consistent. If you carve out a little bit of time (each day or each week) to stay engaged in your finances, like most wellness goals, it becomes muscle memory and allows you to achieve more than you thought possible.
Whether you’re talking about physical health or financial wellness (the two are inextricably linked, by the way), the science shows that we improve health outcomes by improving healthy behaviors.”
To continue reading, please go to the original article here:
https://news.yahoo.com/10-female-financial-leaders-share-120031850.html
Now You Get It
.Now You Get It
Feb 23, 2022 by Morgan Housel
“Every job looks easy when you’re not the one doing it.” – Jeff Immelt
Historian Stephen Ambrose writes about World War II soldiers who left basic training full of bravado and confidence, eager to fight when they join the frontline. Then they get shot at, and everything changes.
“There was no way training could prepare a man for combat,” Ambrose writes. It could teach you how to fire a gun and follow orders. But “It could not teach men how to lie helpless under a shower of shrapnel in a field crisscrossed by machine-gun fire.” No one could understand it until they experienced it.
Now You Get It
Feb 23, 2022 by Morgan Housel
“Every job looks easy when you’re not the one doing it.” – Jeff Immelt
Historian Stephen Ambrose writes about World War II soldiers who left basic training full of bravado and confidence, eager to fight when they join the frontline. Then they get shot at, and everything changes.
“There was no way training could prepare a man for combat,” Ambrose writes. It could teach you how to fire a gun and follow orders. But “It could not teach men how to lie helpless under a shower of shrapnel in a field crisscrossed by machine-gun fire.” No one could understand it until they experienced it.
A Lot Of Things Work Like That.
Most actions have two sides: skill and behavior. What’s true in theory vs. how it feels in the moment. The gap between the two can be a mile wide. No amount of empathy and open-mindedness can recreate emotions. Textbooks and classrooms can’t teach what genuine fear, adrenaline, and uncertainty feel like. So you think you understand how a field works until you experience a new part of it firsthand. Then you see it through a completely different lens.
Two other things that must be experienced before they can be understood:
Losing A Third Of Your Money Or More
Can you survive your assets declining by 30%? On a spreadsheet, maybe yes – in terms of actually paying your bills and staying solvent. But what about mentally? It’s easy to underestimate what a big decline does to your psyche. You might realize your confidence is more fragile than you assumed. You – or your spouse – may decide it’s time for a new plan. I know several investors who quit after losses because they were exhausted.
Physically exhausted. Spreadsheets can model the historic frequency of big declines. But they can’t convey the feeling of coming home, looking at your kids, and wondering if you’ve made a huge mistake that will impact their lives.
I don’t think there’s any way to understand what a bear market feels like until you’ve lived through one.
Part of the reason is that it’s impossible to contextualize what causes losses until they happen. If I say to you, “How would you feel if the market fell 30%?” you imagine a world where everything is the same as it is today, but stock prices are 30% cheaper. And in that world, it feels like an opportunity.
But what actually makes the market fall 30% is a pandemic that might kill you, or a recession where you might lose your job, or a terrorist attack that might just be beginning, or inflation with no end in sight. And in that world – a world that can’t be known until it happens – things feel different. Saying “I’ll be greedy when others are fearful” is easier than actually doing it, because people underestimate the odds of themselves becoming one of the “others.”
All past declines look like opportunities and all future declines look like risks. It’s one of the great ironies in investing. But it happens for a reason: When studying history you know how the story ends, and it’s impossible to un-remember what you know today when thinking about the past. So it’s hard to imagine alternative outcomes when looking backward, but when looking ahead you know there are a thousand different paths we could end up on.
Outsized Success
Going to the moon is the coolest thing humans have ever done.
To continue reading, please go to the original article here:
16 Effective Tips and Tricks To Help You Save Money in 2022
16 Effective Tips and Tricks To Help You Save Money in 2022
Saving can be a struggle without the right strategy.
By Rob Poindexter Feb 23, 2022
Saving money can be hard for a number of reasons. Often, there is not a large margin between what most people earn and what most people spend. Without some type of strategy, that little bit that’s left over every month can be spent all too easily.
Cutting back on your expenses is a great way to start saving money. However, if you’re searching for ways to tuck away a bit of extra savings, these 16 tricks might be the solutions to your saving problems.
16 Effective Tips and Tricks To Help You Save Money in 2022
Saving can be a struggle without the right strategy.
By Rob Poindexter Feb 23, 2022
Saving money can be hard for a number of reasons. Often, there is not a large margin between what most people earn and what most people spend. Without some type of strategy, that little bit that’s left over every month can be spent all too easily.
Cutting back on your expenses is a great way to start saving money. However, if you’re searching for ways to tuck away a bit of extra savings, these 16 tricks might be the solutions to your saving problems.
Find The Bonuses
Of all the ways to save money, this might be the easiest: Let a company pay you for your business. If there’s a service or tool you’re already using, why not earn bonus money at the same time?
An option to consider if you receive direct deposits is Monifi with its Spend and Save Balances. You can currently earn an extra $250 after you set up payroll direct deposits. Just set up the payroll direct deposits and receive two payroll direct deposits of at least $1,000 each into your Spend Balance within 90 days of opening your Monifi Relationship.
Why This Works
The cash bonus can help you achieve your financial goals faster. Plus, the Monifi app comes with plenty of tools that can help you set and track your progress to keep you focused on reaching those goals.
Automate Your Savings
Perhaps the simplest way to save without even thinking about it is to set up an automated savings plan. Most financial institutions allow you to set up regular transfers from your checking account to a savings or investment account.
Why This Works
Automation is a great way to save because it can be hard for most people to remember to make a savings deposit, let alone finding the will to do it. Automated transfers take that job out of your hands. To save even more, consider transferring your funds to a high-interest savings account.
Increase Savings Incrementally
Once you’re on an automated savings plan, the way to really build your savings is to increase those savings by 1% every six to 12 months. For example, if you’re setting aside 10% of your paycheck, reset it to increase by 1% to 2% the following year, and every year thereafter.
Why This Works
In such small increments, it’s easy to adapt to the higher savings level. And, before you know it, you’ll save a large portion of your paycheck automatically.
Keep the Change
To continue reading, please go to the original article here:
One Surprising Question You Should Ask Any Financial Adviser You Might Hire
.One Surprising Question You Should Ask Any Financial Adviser You Might Hire — their answer could be a huge red flag
Updated: Feb. 7, 2022 Lindsay Goldwert
They often manage your life savings. Be smart about who you hire.
Planning your financial life can sometimes be a lot to handle on your own. If you’re paying off your debt, how much should you invest into your Roth IRA? Should you buy a house or keep renting while you build up some liquidity? While not everyone needs a certified financial planner, they can help you get organized and formulate a plan for your money. But how do you know who to trust and whether they’ll be right for what you want to accomplish?
When you meet with a certified financial planner, here are the 15 questions you should ask them to make sure they are trustworthy, experienced and have your best interests at heart.
One Surprising Question You Should Ask Any Financial Adviser You Might Hire — their answer could be a huge red flag
Updated: Feb. 7, 2022 Lindsay Goldwert
They often manage your life savings. Be smart about who you hire.
Planning your financial life can sometimes be a lot to handle on your own. If you’re paying off your debt, how much should you invest into your Roth IRA? Should you buy a house or keep renting while you build up some liquidity? While not everyone needs a certified financial planner, they can help you get organized and formulate a plan for your money. But how do you know who to trust and whether they’ll be right for what you want to accomplish? (You can use this tool to get matched with a planner who meets your needs.)
When you meet with a certified financial planner, here are the 15 questions you should ask them to make sure they are trustworthy, experienced and have your best interests at heart.
1. “‘What’s your definition of a financial planner?”
The definition of a financial planner is very broad and can encompass everything the planner helping with everything from investing and retirement, to insurance and taxes. You want to make sure that the financial planner you go with defines their job in a way that aligns with what you will need them to do. Some may only want to deal with your investments, others may take a holistic approach and even get into the nitty gritty with your budget — make sure the planner you hire can do exactly what you need.
2. “What are your qualifications?”
When it comes to planning your financial universe, you likely want a certified financial planner (CFP) or, if you want help with taxes, a certified public accountant (CPA). Just because someone says they’re a financial planner doesn’t mean they’ve taken the exams that qualify them to be a certified financial planner or CFP. They may have other licenses, such as the Series 7, that allow them to sell financial products, but that’s not the same.
“Know the difference between an actual qualification designation and what is a list of tests that a person took in order to sell stocks and bonds,” explains Katie Brewer, a Dallas-based certified financial planner and founder of Your Richest Life.
To continue reading, please go to the original article here:
If your financial adviser didn’t ask you these 6 questions, it may be time to give them a call
.If your financial adviser didn’t ask you these 6 questions, it may be time to give them a call
Alisa Wolfson Fri, March 4, 2022
These questions can be a good way of fully understanding a client’s needs, setting ground rules, establishing trust and learning whether you will be a good fit.
You may know all the questions you should be asking your financial adviser , but did you know a new adviser should also be asking you questions? “I tell clients and prospects it is like going to the doctor and taking a full physical exam.
I like to call it a financial physical,” says Grace Yung, a certified financial planner and managing director at Midtown Financial Group. “When I meet with new prospective clients, as part of making an overall financial plan, there are several questions that I ask.”
If your financial adviser didn’t ask you these 6 questions, it may be time to give them a call
Alisa Wolfson Fri, March 4, 2022
These questions can be a good way of fully understanding a client’s needs, setting ground rules, establishing trust and learning whether you will be a good fit.
You may know all the questions you should be asking your financial adviser , but did you know a new adviser should also be asking you questions? “I tell clients and prospects it is like going to the doctor and taking a full physical exam.
I like to call it a financial physical,” says Grace Yung, a certified financial planner and managing director at Midtown Financial Group. “When I meet with new prospective clients, as part of making an overall financial plan, there are several questions that I ask.”
Indeed, you’ll want an adviser to look at your finances, and then get to know you. The financial advisers we spoke to all said that questions are a good way of fully understanding a client’s needs, setting ground rules, establishing trust and learning whether you two will be a good fit. Here are six questions financial advisers may want to ask clients to get to know their financial goals, expectations and more.
1. What was your experience working with advisers in the past like — and what would you like this experience to look like?
Keith Moeller, wealth management adviser with Northwestern Mutual in Minneapolis, says this is a great way to uncover what has worked well for a prospective client and what hasn’t, and what they want moving forward.
“This question helps the client verbalize what they’re looking for and it gives the advisor a sense of their expectations and provides an opportunity to help the client understand what they should expect from an adviser,” says Moeller. Indeed, some clients may only want help with specific issues, like investing for retirement, while others may want a more holistic approach. (You can use this tool to get matched with a planner who meets your needs.
2. What are your short-term and long-term goals?
When building strategies for clients, Yung says it’s important to know what the short-term and long-term goals of clients are. “Of your invested funds, when will they need to tap into the account to meet various goals? This is important to note because some strategies are better off if they don’t get interrupted prematurely,” says Yung.
3. What does success in retirement look like for you?
To continue reading, please go to the original article here:
Are Traditional Savings Accounts Worth It for You Anymore?
.The Future of Banking: Are Traditional Savings Accounts Worth It for You Anymore?
John Csiszar Wed, March 2, 2022
Just a few short years ago, online savings accounts were paying annual percentage yields of 2% or even more, making them a great place to stash cash. But with the onset of the coronavirus pandemic, the Federal Reserve quickly cut interest rates, dropping savings rates close to zero. Even the best online savings yields top out at about 0.50% these days. What this means is that for the past two years, savers have earned negative yields on their bank accounts, after factoring in inflation and taxes. And with inflation skyrocketing past 7% in recent months, savings accounts are falling woefully behind. So, are traditional savings accounts even worth it for you anymore? The answer is definitely yes — when they are used properly.
The Future of Banking: Are Traditional Savings Accounts Worth It for You Anymore?
John Csiszar Wed, March 2, 2022
Just a few short years ago, online savings accounts were paying annual percentage yields of 2% or even more, making them a great place to stash cash. But with the onset of the coronavirus pandemic, the Federal Reserve quickly cut interest rates, dropping savings rates close to zero. Even the best online savings yields top out at about 0.50% these days. What this means is that for the past two years, savers have earned negative yields on their bank accounts, after factoring in inflation and taxes. And with inflation skyrocketing past 7% in recent months, savings accounts are falling woefully behind. So, are traditional savings accounts even worth it for you anymore? The answer is definitely yes — when they are used properly.
When Are Savings Accounts Still Appropriate?
Savings accounts will never generate the big returns offered by asset classes like the stock market, but they serve valuable purposes that stocks and other investments can’t. Here are the top reasons why savings accounts are still appropriate.
They Carry FDIC Insurance
Probably the most important characteristic of a savings account is that it is FDIC insured. This means that your assets in the account, up to $250,000, are insured against loss by the federal government. Some bank accounts offer additional supplemental insurance that can bring the total amount up to $1 million or even more. This makes savings accounts the ideal vehicle for funds that you absolutely can’t lose, such as your emergency fund.
They Offer Liquidity
Savings accounts are generally accessible at any time. You can withdraw your funds from a branch any time it is open, and for accounts that offer debit cards, you can use an ATM machine to take out your funds as well. Even the stock market, which is also considered highly liquid, doesn’t offer this type of accessibility, as you must sell your stocks and then wait two business days after the sale to access your cash. For times when you need money right away, a savings account is one of the best available options.
They Can Help You Reach Your Short-Term Savings Goals
If you’re saving for a short-term goal, such as a wedding or a vacation, a savings account is usually your best option. Even if the interest currently paid on savings accounts is low, you will earn at least something while saving for your goal, and you won’t have to worry about losing value in the account even in a bad market environment.
When a Savings Account Just Doesn’t Cut It
To continue reading, please go to the original article here:
https://news.yahoo.com/future-banking-traditional-savings-accounts-130014037.html
When Ukraine Was Invaded 700 Years Ago… Another Superpower Was in Decline
.When Ukraine Was Invaded 700 Years Ago… Another Superpower Was in Decline
Notes From the Field By Simon Black February 28, 2022
In the autumn of 1362, on the banks of Syniukha River in eastern Europe, General Algirdas of the Grand Duchy of Lithuania was about to do something that would have been unthinkable only a few decades before. He was going to invade Ukraine and take over the Principality of Kiev. Kiev at the time was a client state of the Mongolian Empire which had long been the world’s dominant superpower. But Mongolia was in obvious decline.
In the early 1200s under Genghis Khan, everyone in the known world was terrified of the Mongols. No one would have dared to antagonize them. Genghis’s successors, including his grandson Kublai Khan, continued to wield this immense power into the early 1300s, a century after the empire’s formation.
When Ukraine Was Invaded 700 Years Ago… Another Superpower Was in Decline
Notes From the Field By Simon Black February 28, 2022
In the autumn of 1362, on the banks of Syniukha River in eastern Europe, General Algirdas of the Grand Duchy of Lithuania was about to do something that would have been unthinkable only a few decades before. He was going to invade Ukraine and take over the Principality of Kiev. Kiev at the time was a client state of the Mongolian Empire which had long been the world’s dominant superpower. But Mongolia was in obvious decline.
In the early 1200s under Genghis Khan, everyone in the known world was terrified of the Mongols. No one would have dared to antagonize them. Genghis’s successors, including his grandson Kublai Khan, continued to wield this immense power into the early 1300s, a century after the empire’s formation.
But then things started to change.
Mongolians became extremely divided; they no longer had a common sense of unity, and bitter disputes broke out over who was Mongolia’s rightful leader.
Furthermore, Mongolia’s legendary tolerance began to fade. The Empire under Genghis had once been a place where all faiths, belief systems, and ideologies could flourish.
But by the early 1300s, Mongolians began choosing sides; some parts of the empire became Muslim, others Buddhist. Others adopted Chinese culture and traditions. And some factions became extremely intolerant of the others.
Mongolia also suffered other serious issues. The Bubonic Plague, which may have originated from within the Mongolian Empire before making its way to Europe, devastated trade and commerce.
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Plus, inflation was raging in the eastern part of the empire, thanks to the astonishing amount of paper money that the Mongolian treasury had been printing. Inflation was so bad, in fact, that even the peasants were starting to revolt.
Mongolia’s problems compounded. And by the mid-1300s, rising powers like Lithuania were no longer intimidated.
That’s why Algirdas led a force of 25,000 men into Ukraine in 1362; he wanted to conquer Kiev, essentially stealing one of Mongolia’s vassal states.
The Mongols tried to stop him. They made threats and sent harsh warnings. They even tried to put up a small fight.
But in the end, Lithuanian forces decisively pushed into Ukraine and took Kiev. More importantly, they made the Mongols look weak.
This was an important moment in history; most people already noticed Mongolia’s decline — the infighting, the intolerance, the inflation.
But it took the Lithuanians invading Mongolia’s vassal state of Kiev — something that would have been unthinkable only a few decades prior — for the world to finally realize that the Mongolian Empire was no longer the dominant superpower.
History is full of similar watershed moments where it becomes obvious that a former superpower has declined. The Suez Crisis in 1956 is another great example; the United Kingdom, formerly the world’s dominant superpower, invaded Egypt.
Yet almost immediately the United States (the rising superpower) threatened the UK with financial sanctions if they did not cease the operation and withdraw from Egypt.
Britain complied and pulled their forces out, marking the end of their dominance in the world… and the beginning of US dominance. I’ve written extensively about the many, obvious signs that US dominance is waning. Last year’s disgraceful, humiliating retreat from Afghanistan was one such sign.
Another sign is the woke fanaticism that has infected the US intelligence and defense community, where many policymakers seem to prioritize diversity and inclusion over national security.
But the most recent sign is Putin’s invasion of Ukraine last week. This would have never happened two decades ago; he would have been too afraid of America’s wrath.
Yet today, Putin feels emboldened. The Brandon Administration spent months threatening Putin, hoping to scare him into backing off.
But like the Grand Duchy of Lithuania back in the 1360s, Putin sees the decline — the infighting, the intolerance, the inflation (not to mention weak leadership) — so he’s no longer intimidated… by either the US or NATO.
It’s also notable that China is the most important voice in this conversation; Putin agreed to peace talks with Ukraine ONLY after Chinese President Xi Jinping urged Putin to do so on Friday.
In other words, the US was powerless to prevent the invasion, while China may be instrumental in ending it. I take no pleasure in this conclusion; Putin is acting like a deranged lunatic, and it’s sad that the risk of provoking America is no longer a suitable deterrent. But facts are facts, and it’s important to remain objective.
Future historians will undoubtedly opine about the end of America’s dominance, and precisely when it happened; they may point to the Afghanistan retreat, or the COVID-19 pandemic in which Faucist bureaucrats took over the nation.
Perhaps they’ll point to the day that the US national debt hit $30 trillion. Or Russia’s invasion of Ukraine. Or they may point to some other event that hasn’t taken place yet. But it should be obvious that the decline is happening. And that’s reason enough to have a Plan B. Remember, a big part of having a Plan B is having the courage to use it… to look at circumstances and say, “OK, Plan B is now Plan A.”
I know people in Ukraine who were still consumed with day-to-day trivialities as late as last Tuesday, the day before the invasion. One woman I know fretted about her expiring gym membership. Now she’s stuck in Kiev with a small child.
These are not stupid people; they’re intelligent, educated individuals who assumed “There’s no way he’s going to invade.” And let’s be honest, most people around the world thought the same, and forgot the lessons of Covid-19: everything can change overnight.
You can have the best Plan B in the world. But it won’t matter if you don’t execute.
There are almost always warning signs. With Covid, we could see western European countries imposing lockdowns. With Ukraine, we could see 100,000+ troops massed on the border. With US dominance, we can see obvious indications of decline.
We’re not talking about obscure risks; the signs are clear. It’s just a question of getting over denial and normalcy bias… because it’s better to be comfortable and early than even a second late.
PS: If you can see what is happening, and where this is all going, you understand why it is so important to have a Plan B.
A Few Comments About That Big ‘SWIFT’ Threat
.A Few Comments About That Big ‘SWIFT’ Threat
Notes From The Field By Simon Black March 2, 2022
Well, it looks like western leaders are finally starting to put on their big boy pants. For the first few days after Vladimir Putin’s invasion of Ukraine, most governments offered nothing but harsh words… and the obligatory thoughts and prayers. Now every organization in the world seems to be chipping in to punish Putin over this invasion. Even the International Judo Federation has removed Putin as its honorary president.
Not to be outdone, World Taekwondo (which until recently was known as the World Taekwondo Federation, but then changed its name due to connotations about its initials) stripped Putin of the honorary 9th degree black belt they awarded to him in 2013.
A Few Comments About That Big ‘SWIFT’ Threat
Notes From The Field By Simon Black March 2, 2022
Well, it looks like western leaders are finally starting to put on their big boy pants. For the first few days after Vladimir Putin’s invasion of Ukraine, most governments offered nothing but harsh words… and the obligatory thoughts and prayers. Now every organization in the world seems to be chipping in to punish Putin over this invasion. Even the International Judo Federation has removed Putin as its honorary president.
Not to be outdone, World Taekwondo (which until recently was known as the World Taekwondo Federation, but then changed its name due to connotations about its initials) stripped Putin of the honorary 9th degree black belt they awarded to him in 2013.
(Note that Putin was awarded his honorary black belt AFTER he had waged very public genocide against Chechnya, something the WTF seemed to have no problem with.)
Now, I’m not poking too much fun at these reactions; Putin has now crossed several sacrosanct lines, ranging from the invasion itself to the mobilization of his nuclear forces.
He’s acting like a deranged bully. You can practically hear him whisper to his skeptical generals, “Sweep the leg.”
And it’s human nature to want to do something in situations like this. Or at least to virtue signal to everyone where you stand by making it look like you’re doing something.
But most of these reactions are hasty and irrelevant. It’s not like the war is going to stop because Putin lost his honorary black belt.
More importantly, some of these reactions could have dangerous, unintended consequences that no one ever thought about because of the rush to do something.
Banishment from SWIFT is an obvious example.
This morning, under pressure from the European Union and United States, SWIFT agreed to exclude seven of Russia’s largest banks from the network.
Bear in mind that SWIFT (which stands for Society for Worldwide Interbank Financial Telecommunication) is technically a messaging platform; it’s a way for banks to communicate with one another about financial transactions in a somewhat secure manner.
And ‘somewhat secure’ may be generous.
I own a bank here in Puerto Rico. And a few years ago when my bank was accepted into SWIFT, I remember the onboarding team told us to go find a computer with Windows 7 on it.
Now, Windows 7 is an obsolete operating system that Microsoft had stopped supporting long ago. Yet it was still the foundation of one of SWIFT’s ‘secure’ messaging products.
It turns out that this is not unusual in banking; many financial institutions are in the dark ages when it comes to technology, and security is really lacking.
We’ve seen reports of banks being hacked over and over again. And even SWIFT is no exception.
In fact, SWIFT’s cybersecurity deficiencies have already been exploited by hackers; back in 2015-2016, the Bangladesh Central Bank had more than $100 million stolen due to a security hole in SWIFT’s software.
So this is hardly an impenetrable fortress of security.
And now that Russia’s top banks are being booted from SWIFT, it’s certainly possible the system could be hacked again… and much more seriously this time.
Putin has already invaded Ukraine. Is it so inconceivable that he would hack SWIFT?
After all, if his biggest institutions are no longer allowed to access the platform, he has nothing to lose by taking down SWIFT. And that would cause complete chaos across the world, bringing cross-border payments to a halt.
Last week I wrote to you about Justin Trudeau’s psychopathic rage against the Freedom Convoy, as he was directing financial institutions to freeze protestors’ funds. Further, the financial website GoFundMe unilaterally refused to pay $10+ million in donations to Freedom Convoy groups.
It was a clear and obvious sign that the financial system cannot be trusted.
This SWIFT issue is another sign.
There’s certainly no guarantee that Russia is going to hack the system. But it’s certainly a possibility, given that the vulnerabilities are widely known and have already been exploited.
It’s 2022. There’s no reason to hold 100% of your savings in a financial system that is still in the technological Dark Ages. And that’s why it makes a lot of sense to consider holding at least a portion of your savings in cryptocurrency.
To your freedom, Simon Black, Founder, SovereignMan.com
https://www.sovereignman.com/trends/a-few-comments-about-that-big-swift-threat-34704/
3 Money Moves Every Woman Must Make
.Gabrielle Olya Mon, February 28, 2022
In today’s “Financially Savvy Female” column, we chat with Rachel Cruze — personal finance expert, author of “Know Yourself, Know Your Money” and host of “The Rachel Cruze Show” — about her own financial obstacles, the best financial advice she received and the money moves every woman must make.
What is the biggest obstacle you face when it comes to financial success?
Comparison is probably the biggest struggle for me. It’s so hard to avoid these days because you don’t have to live next door to the Joneses to see their new car — we carry them around in our back pockets. But we’re comparing our real lives to someone else’s highlight reel. Comparison will steal your joy and your paycheck.
3 Money Moves Every Woman Must Make, According to Rachel Cruze
Gabrielle Olya Mon, February 28, 2022
In today’s “Financially Savvy Female” column, we chat with Rachel Cruze — personal finance expert, author of “Know Yourself, Know Your Money” and host of “The Rachel Cruze Show” — about her own financial obstacles, the best financial advice she received and the money moves every woman must make.
What is the biggest obstacle you face when it comes to financial success?
Comparison is probably the biggest struggle for me. It’s so hard to avoid these days because you don’t have to live next door to the Joneses to see their new car — we carry them around in our back pockets. But we’re comparing our real lives to someone else’s highlight reel. Comparison will steal your joy and your paycheck.
One of the best ways to overcome this is to unfollow accounts on social media that tempt you to shop. Out of sight, out of mind — you need to put some blinders on and focus on your own goals in life. Money is the tool to help you achieve them, and it’s hard to win with money when you’re spending it based on someone else’s values.
What is the best piece of advice you received along your financial journey?
Don’t do debt. Period! Debt will keep you paying for your past when you should be focused on your present and future. Our culture has normalized debt, but 78% of Americans live paycheck to paycheck. Not to mention that 40% of people can’t cover a $400 emergency with cash.
Being “normal” is not setting you up for financial freedom. Look, money flows two ways. If you’re spending more than you make, you’ll continue to repeat the cycle of debt. Start living below your means and cut down on expenses. It’s a simple concept, but it’s not the norm these days. Start budgeting your money and saving up for purchases that you would normally swipe a credit card to purchase. Practice delayed gratification!
If you had to boil your financial advice down to the three money moves every woman must make, what would they be?
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/3-money-moves-every-woman-160116319.html