Why We Could Easily See $5,000+ Gold

Why We Could Easily See $5,000+ Gold

Notes From the Field  By Simon Black Sovereign Man June 28, 2023

On the 18th of September, in the year 324 AD, 52-year old Constantine the Great finally won the victory that he had been fighting for two decades to achieve: sole control of the Roman Empire.

At that point the Roman Empire had suffered more than a century of extreme turmoil– recession, inflation, invasion, humiliation, and endless civil wars, just to name a few of its challenges.

But after finally vanquishing his remaining political opponents, Constantine was ready to turn the page and institute some much needed reforms. And one of his first orders of business was to restore much-needed confidence in the currency.

Previous emperors had heavily debased Rome’s coinage to almost hilarious levels; the silver content in the denarius coin, for example, had been reduced 98% purity, all the way down to just 5% purity.

Nobody trusted Roman currency anymore. So in order to restore confidence, Constantine turned to gold.

The solidus gold coin had been originally introduced by one of his more notorious predecessors– Diocletian– in the early 300s. But the coin wasn’t really widely used.

Constantine chose the solidus as the gold standard for Roman currency, and he minted large quantities of it for circulation across the empire. More importantly, he standardized the coin at a fixed weight and high level of purity… and this standard remained untouched for centuries.

The value of the solidus was so stable, in fact, that it eventually became used for trade and commerce across the world– from the Mediterranean to the Silk Road.

By the 500s AD, the wide acceptance of the solidus became a source of pride for the Empire, leading one emperor to comment that the solidus was “accepted everywhere from end to end of the earth”, and that the coin was “admired by all men in all kingdoms, because no kingdom has a currency that can be compared to it.”

And he was right. Only the solidus was as widely accepted for international trade… sort of like the US dollar’s status today.

Worried about the way things are going in your country?

Download our FREE Ultimate Plan B Guide to discover how you can build your own robust Plan B and thrive - no matter what happens next...

The solidus certainly had a great run; its dominance lasted for centuries. But ultimately, as the Roman Empire (then known as the Byzantine Empire) decayed, emperors once again began to debase the solidus.

Over a period of about three decades in the mid 11th century, the solidus lost roughly two-thirds of its value.  This was a time in history when there were other rising powers in Europe. And these foreign kingdoms started thinking about alternatives.

Soon wealthy Italian city-states like Venice and Florence began minting their own coins– the ducat and florin. And as these coins quickly gained acceptance for international trade, the Roman solidus was displaced forever.

I’ve consistently argued that the US dollar would likely suffer the same fate as the solidus ever since I started Sovereign Man.

As far back as 2012, for example, I wrote:

History’s lesson is quite simple — when the issuing authority of the world’s reserve currency engages in wanton debasement, the market seeks an alternative. This time is not different, and the dollar will suffer the same fate.

 This will likely happen gradually rather than suddenly; over time, the US government will no longer be able to export the most deleterious effects of its monetary policy to destitute people in developing countries. The negative consequences will remain in the US, once and for all.

 The sensible course of action is to plan for this trend by trading out paper currency for real assets like precious metals and productive land that will hold their value over time.

11 years ago when I wrote that passage, the idea of the dollar losing its reserve status was controversial. In fact, most of what I wrote back then was considered highly controversial; I said that Social Security was in serious trouble, that the US government would eventually be unable to pay its debts, and that America was in serious decline.

Today these ideas are no longer controversial. And the proof is in the news headlines on an almost daily basis.

In particular, the dollar’s potential loss as the dominant global reserve currency is now a mainstream idea that is being openly discussed around the world.

(Naturally the Federal Reserve and US Treasury Department are completely ignoring the risk altogether.)

So what does the future hold? Does loss of reserve status mean that the US dollar will simply vanish?

No, of course not. And at this point I don’t necessarily that the Chinese yuan will become THE dominant reserve currency.

China is obviously a major player in global trade and one of the largest economies in the world. They’re big. They’re powerful. And at this point, they’re able to force many of their trading partners to start using yuan for trade.

Think about it like this: Australia currently exports around $150 billion each year to China. And right now, most of that trade takes place in US dollars… because the US dollar is STILL the world’s primary reserve currency.

This means that the central banks in both China and Australia have to stockpile large amounts of US dollars in order to facilitate this trade. And this is an ENORMOUS benefit for the US economy; the rest of the world is essentially forced to invest in America.

But what if China demands that all trade with Australia now be denominated in yuan, instead of dollars. Australia certainly wouldn’t want to alienate its biggest trading partner, so they might happily agree.

What does this mean in practice? Australia makes its exports to China. Instead of receiving $150 billion US dollars, they receive $150 billion worth of Chinese yuan.

What does Australia do with all that yuan? Well, there aren’t too many options. China has a very closed economy with highly regimented capital controls. You can’t freely move money in and out of China.

Now, Australia does import around $70 billion from China each year. So the easiest option is to pay for those Chinese imports using their new pile of yuan.

But that still leaves around $80 billion worth of yuan left over. And again, since it’s so difficult to invest that money in China, Australia will need to figure out something to do with it.

One solution is that Australia’s central bank could exchange its excess yuan for gold. Gold is a traditional asset that central banks around the world have always held. They can use it to settle debts and trade accounts, or simply keep it as a reserve.

So what does this mean for the gold price? Well, the math is fairly simple. China’s global trade surplus in 2022 was nearly $900 billion.

As China continues to push its trading partners to accept yuan, if even 20% of that trade surplus ends up being exchanged for gold, we could easily see a $5,000 gold price given gold’s current supply and demand fundamentals.

I’ll discuss this much more in future letters, but if you’re thinking about ways to hedge the risk of the US dollar losing some of its dominance as the world’s reserve currency, gold is a good place to start.

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. That’s why we published our 31-page, fully updated Perfect Plan B Guide, which you can download here. Grab Your Free Download:SOVEREIGN MAN'S PERFECT PLAN B GUIDE

Inside you’ll discover...

No-Brainer Strategies to Ensure You Thrive

No Matter What Happens Next.

Learn how to:

Legally slash your tax bill by up to $1.2 million each year

Obtain a valuable second passport… potentially for free

Invest outside the mainstream and generate strong returns with minimal risk

Protect your assets and become invincible to financial crises and frivolous lawsuits

Learn about these and many more strategies in our free Perfect Plan B Guide.

THIS VITAL 31-PAGE REPORT IS ABSOLUTELY FREE.

https://www.sovereignman.com/trends/why-we-could-easily-see-5000-gold-147743/

16 Rules That Oprah, Mark Cuban, Beyoncé and Other Millionaires Swear By

16 Rules That Oprah, Mark Cuban, Beyoncé and Other Millionaires Swear By

Gabrielle Olya   Tue, June 27, 2023

Being a millionaire or billionaire -- especially a self-made one -- usually requires being disciplined about saving and spending, as well as investing wisely. Although the super-rich can splurge on lavish vacations and fancy cars, some eschew a luxurious lifestyle for one that allows them to maintain their wealth over the long term.

So, if you want to live like a millionaire yourself, you'll have to follow the money rules of the wealthy.

Kristen Bell: Take Advantage of Coupons When Shopping  Net worth: $40 million

"Frozen" star Kristen Bell still clips coupons despite her multi-million-dollar wealth.

"I almost exclusively shop with coupons," she said on "Conan," sharing that her personal favorite place to shop with coupons is Bed Bath & Beyond. "It's the best one because they've got 20% off, and if you go and buy a duvet or an air conditioner or whatever, you could be saving upwards of $80."

Sara Blakely: Create and Maintain a Nest Egg  Net worth: $1 billion

Spanx founder Sara Blakely kept her day job while starting her shapewear company to make sure she'd be able to maintain a healthy nest egg.

"It's really important to save money and create a nest egg, become comfortable for yourself with what the nest egg is, and don't touch it," she told Business Insider. "Leave it there. I always had a portion of my paycheck put into savings, and that was an easy automatic way ... I didn't quit my job until I'd already landed Neiman Marcus and Saks Fifth Avenue. I was so careful, I [worked on Spanx] at night and on the weekends because I didn't not want to have income coming in."

Warren Buffett: Think of Investing as a Long-Term Strategy  Net worth: $110 billion

Billionaire investor Warren Buffett isn't a proponent of active stock trading.

"When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever," he wrote in his 1988 Berkshire Hathaway shareholders letter. "We are just the opposite of those who hurry to sell and book profits when companies perform well."

Grant Cardone: Save $100K and Invest the Rest  Net worth: $600 million

Grant Cardone is a self-made millionaire, author and sales training expert. He recommends hitting a lofty savings goal -- $100,000 -- and then investing any money earned after you hit that amount.

"You need to prove to yourself that you can go out and get money," he wrote in a 2018 post for CNBC. "Saving $100,000 shows that you have an ability to make money and then to keep it. Most people can't do either of those things. Once you can earn and save, then you can start building wealth."

Mark Cuban: Don't Live Beyond Your Means, Even If That Means Living Like a Student  Net worth: $5 billion

Investor and "Shark Tank" star Mark Cuban believes that overspending can be an unnecessary cause of stress, and he advocates for living like a student if that's all you can truly afford.

"Your biggest enemies are your bills," Cuban wrote in a 2009 blog post. "The more you owe, the more you stress. The more you stress over bills, the more difficult it is to focus on your goals. The cheaper you can live, the greater your options."

Bethenny Frankel: Stay Out of the Red  Net worth: $80 million

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/16-money-rules-millionaires-swear-171052150.html

Dangerous Android Trojan Targets 600 Banking Apps — And It's Draining Accounts

Dangerous Android Trojan Targets 600 Banking Apps — And It's Draining Accounts

Anthony Spadafora   Updated Tue, June 27,

Android smartphone owners are once again under attack from the dangerous Anatsa banking trojan which has been updated with new capabilities and can now target even more banking apps.

As reported by BleepingComputer, this new mobile malware campaign has been active since March of this year and so far, banking customers in the U.S., U.K., Germany, Austria and Switzerland have been targeted by Anatsa.

Just like during a previous Anatsa campaign from back in November 2021 which saw the malware downloaded over 300,000 times, the hackers behind this new campaign are using malicious apps hosted on the Google Play Store to infect vulnerable Android smartphones.

This updated version of the Anatsa banking trojan was first spotted by security researchers at ThreatFabric who revealed in a new report that it can now take over nearly 600 different banking apps and commit fraud right on an infected device.

A number of big banks including JP Morgan, Capital One, TD Bank, Schwab, Navy Federal Credit Union and others can be targeted by Anatsa which is why this banking trojan is a threat Android users will want to take seriously.

Delete these apps right now

In their report, security researchers at ThreatFabric highlighted five of the apps that are being used by the hackers behind this campaign to take over and drain bank accounts. If you have any of these apps installed on your Android smartphone, it’s recommended that you uninstall them immediately. Below, you’ll find the apps in question along with their package names:

To continue reading, please go to the original article here:

https://www.yahoo.com/lifestyle/dangerous-android-trojan-targets-600-191106243.html

I’m a Millionaire: Why I’m Not Passing Generational Wealth to My Kids

I’m a Millionaire: Why I’m Not Passing Generational Wealth to My Kids

Andrew Lisa   Tue, June 27, 2023

In America, success is largely measured by wealth, and if you earn enough to outlive you, you can pass it on to your kids. But is generational wealth a worthy aspiration?  There’s a growing movement among millionaires and billionaires to give away their fortunes — but not to their children. By ensuring that your kids are born rich, the theory goes, you rob them of the tools they need to succeed independently.

GOBankingRates spoke to a self-made millionaire who adheres to this philosophy, because his ability to succeed was rooted in the fact that no one was going to do it for him. Here’s his take on the issue.

A Self-Made Man Succeeded Alone Because There Was No Other Way

Bryan Clayton is the founder and CEO of GreenPal, a marketplace that pairs lawn care professionals with people seeking landscaping services for their homes and businesses. The company investigates and approves every business it platforms, then contacts them on behalf of prospective local customers. Those customers can then compare quotes from nearby service providers without having to do the legwork of calling them individually for estimates.

Facilitating more than 9,000 bookings a day, Clayton has built the business into an industry leader — but his success stands on the shoulders of a lifetime of hard work. He started landscaping at the age of 13 before launching his own company, Peach Tree Inc., which he built into a business with 150 employees and $10 million in annual sales. He later sold it and used the proceeds to start GreenPal, and his tech start-up now commands $30 million a year.

Today, Clayton is a millionaire, but that doesn’t necessarily mean his kids will be. Every dollar of the family fortune came from his relentless hard work and perseverance — and if he just hands it over to them, what incentive would they have to build something of their own?

Inheritance: Gift or Burden?

From Clayton’s perspective, his kids can inherit a big pile of money or the skills and mindset needed to succeed on their own — but not both.

“I’ve worked hard to build my company from scratch,” he said. “And while I’ve accumulated wealth along the way, I believe in the importance of instilling the values of hard work, resilience, and financial responsibility in my children rather than simply handing them a large sum of money.”

In his mind, holding back the money gives them something much more valuable in its place. “By not passing on my wealth directly, I hope to encourage my children to strive for their own success and build their wealth,” said Clayton.

‘The Greatest Gift We Can Give Our Children’

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/m-millionaire-why-m-not-110116550.html

I’m a Financial Advisor: Here’s the First Thing I Tell New Clients To Do

I’m a Financial Advisor: Here’s the First Thing I Tell New Clients To Do

Andrew Lisa   Mon, June 26, 2023

The most universally applicable piece of money advice is to work with someone who gives money advice for a living. Capable and experienced financial advisors often join family doctors and lawyers as the most trusted and indispensable professionals in the lives of the clients they serve.

They guide their clients through debt reduction, estate planning, taxes, investing, entrepreneurial endeavors and the basic day-to-day management of their personal finances. Perhaps most importantly, they cut through the clutter, confusion and conflicts of interest that bombard people every day with misinformation through their phones, laptops and social media feeds.

Although the best financial advisors tailor personalized strategies that are unique to the individuals they serve, some money advice is universal. To learn more about the money moves that experienced industry professionals think will have the biggest impact, GOBankingRates asked a trio of financial advisors what they tell their clients to do right out of the gate as step No. 1.

They offer a range of perspectives. One works with high-net-worth individuals, another serves older clients and the third guides the youngest adults who are just learning the ropes. Here’s their main money advice.

A Wealth Manager Concentrates on Cash Flow

John M. Jennings is the president and chief strategist of St. Louis Trust & Family Office, a $15 billion wealth management firm, and an adjunct professor at the Washington University Olin School of Business in St. Louis in its Wealth and Asset Management graduate program. Jennings is also a Forbes contributor and author of “The Uncertainty Solution: How to Invest with Confidence in the Face of the Unknown.”

The first thing we do with new clients is to dig into their cash flow,” said Jennings. “What money comes in and what goes out? Understanding cash flow is foundational to all other planning. You can’t effectively design a financial plan, an investment plan, or an estate plan without understanding cash flows — both recurring and extraordinary items. It’s not sexy work, but having a handle on money’s ins and outs is essential for planning for financial success.”

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/m-financial-advisor-first-thing-110057313.html

This Is How the 1% Manage Their Wealth

Jaspreet Singh on the 75/15/10 Rule: This Is How the 1% Manage Their Wealth

Dawn Allcot   Sun, June 25, 2023

Finance YouTuber Jaspreet Singh (of Minority Mindset fame) recently created a popular video describing how the 1% manage their wealth. It all starts with increasing wealth through multiple streams of income.  One thing to keep in mind, however — the key is not so much how much money you earn, but all about how you spend and save.

Singh and other finance experts promote the 75/15/10 rule for budgeting. It’s a simple concept — and as long as you are making enough money to make ends meet, you should be able follow this simple formula.

Here is where your money should go based on Singh’s recommendations.

75% of Your Income (or Less) Should Be Directed to Living Expenses

You should try to organize your finances so that no more than 75% of your cash goes toward living expenses. This includes fixed expenses, such as your mortgage and car loan, as well as variable expenses like vacations, dining out and entertainment.

If you aren’t earning enough to cover your expenses — much less have 25% left over after your bills are paid — it’s time to look for ways to cut costs and increase your income.

You might review all your subscriptions and cancel some. You can downgrade to a less expensive car. In an extreme situation, you might want to move out of your apartment and live with family or friends while you save money or find ways to earn more money.

To boost your income, consider taking on a side gig or asking your boss for a raise.

15% of Funds Should Be Diverted to Investments

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/jaspreet-singh-75-15-10-192108826.html

Financial Goals That Are Easy To Stick To All Year

Financial Goals That Are Easy To Stick To All Year

June 19, 2023 By Cynthia Measom

Setting goals can be a key step in taking control of your finances. Putting a plan in place can help you stay on track and ultimately save more money. But financial goals can be hard to see through, and people often initially stick to their plan only to let those goals slide as time goes by.

To avoid giving up, here’s a tip: Instead of making your financial goals endless and challenging, take them month by month — and try to have some fun with each one. In a year, you may be surprised at what you’ve achieved financially.

Here are some ideas to get you started.

Save With a Bank that Tracks Your Spending to Improve Your Saving Habits

Milli Bank is an FDIC insured mobile bank that offers a 5.00% annual percentage yield (APY), so it’s already a great option to grow your money. But Milli is also known for its unique saving features. Milli allows you to separate your money into different Jars for different financial goals, so you can better visualize and keep track of your progress. The APY is current as of June 13, 2023, and is subject to change at any time.

Another important feature for those trying to set and stick to financial goals is Milli’s real-time spend tracking, which can show you how your spending affects your savings goals. Armed with this information, you can better understand your spending habits and where you need to make changes to meet your savings goals.

Comparison Shop To Find Better Deals on Services and Products You Use

You don’t have to tackle everything at once, but make it a goal each month to find a better deal on a product, service or interest rate. The first month, look at what you pay for internet service and see if you could pay less if you bundle it with cable and phone services. During month two, look at your credit cards and see if you could benefit from transferring a balance from a higher interest card to one with a lower interest rate. Or if you have stellar credit and payment history, call your creditor and ask for a lower rate.

To continue reading, please go to the original article here:

https://www.gobankingrates.com/money/finance/money-goals-easy-stick-year/?utm_term=incontent_link_6&utm_campaign=1233965&utm_source=yahoo.com&utm_content=9&utm_medium=rss

I’m About To Retire: Here’s the Money Advice I Wish Someone Had Given Me

I’m About To Retire: Here’s the Money Advice I Wish Someone Had Given Me

Cynthia Measom   Sat, June 24, 2023

Many people view retirement as the day they’ll be able to kiss their job goodbye and live life at a more relaxed pace. However, if you don’t take steps to ensure that your retirement savings and investments are on track with your goals annually, leaving your job behind might come a lot later than you’d like.

Find out what money advice people on the verge of retirement wish someone had given them when they were younger, and see if it makes sense for your situation.

Get Life and Health Insurance Early in Life

Wayne Bechtol is a certified finance professional and board advisor at Fiona who is planning to retire in a few years. He said, “I did not know the benefits of insuring life and health early in life. By the time I realized its importance, I was past 30. Therefore, I lost out on the best years of life when the premiums would have been considerably lower if I had insurance during my 20s.”

Plan for the Unexpected

“Now that I’m about to retire, I realize how illness can become a major expense in later life,” said Karen Hoyt, author of “The Liver Loving Diet.”

She continued, “I certainly didn’t realize how a catastrophic diagnosis could hinder my retirement plans. While battling cancer, I lived on the edge financially for a few years. Thankfully, I was able to transition back into a career that I enjoy. Now, I plan on teaching for a few more years.

I hear from many liver disease patients who get caught in a health crisis. Their retirement may get put on hold, or they are unable to pay for even the most basic medical needs. I wish someone had told me how to plan for a catastrophic illness.”

Understand the Benefits of Compounding Interest

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/m-retire-money-advice-wish-120036843.html

Ask Before Quitting

Ask Before Quitting

Jonathan Clements  HumbleDollar  Jun 17, 2023

AS FOLKS HURTLE toward retirement, they often wonder whether they’ve saved enough, debate when to claim Social Security and fret about how they’d pay for long-term care. Make no mistake: Such issues are hugely important.

But amid these financial musings, we should also spare a thought for four other questions:

How can I transform myself from a diligent saver to a happy spender? This sounds so easy, and yet many struggle with it, including Ken Begley and including me—and including those who amassed vast fortunes, as Marjorie Kondrack recently discussed.

To be sure, we don’t have to spend our money to get pleasure from it. Simply sitting on a pile of dollar bills can deliver happiness, thanks to the sense of financial security it offers. Similarly, giving away money, whether to loved ones or to charity, can also deliver ample happiness.

Still, I think every diligent saver should ponder whether there are ways to spend more on themselves that could improve their retirement years. I have no clever strategies to suggest that’ll help you go from avid saver to joyful spender. But I’ve found that practice helps.

My advice: Don’t start with a big purchase—a super-lavish vacation or a luxury car. That’ll likely make you uneasy, and there’s a risk you won’t get much pleasure from the money involved. Instead, try buying some smaller items, which often deliver disproportionately greater happiness per dollar spent. If you part with a little more money than usual and it enhances your life, perhaps your attitude will slowly shift and you’ll find yourself enjoying the fruits of your earlier thrift.

What will get me out of bed in the morning? I’m a big fan of daydreaming.  Assisted by the internet, I muse about vacations I’d like to take, restaurants I want to try and musicians I’d like to see perform. Daydreaming costs nothing except time, and—I suspect—often delivers just as much pleasure as the real thing.

As you approach retirement, I’d encourage you to daydream about how you’ll use your time once you quit the workforce. Indeed, I think it’s worth creating a lengthy wish list. That wish list will no doubt include fun stuff, like trips you want to take and hobbies you might pursue.

To continue reading, please go to the original article here:

https://humbledollar.com/2023/06/ask-before-quitting/

Staying the Course

Staying the Course

Adam M. Grossman    Jun 18, 2023

WHAT DO WALL STREET analysts, magazine editors, economists and academics have in common? They’ve all found it virtually impossible to make accurate market forecasts. That’s why Vanguard Group founder Jack Bogle gave this advice to investors: When markets go haywire, “Don’t do something. Just stand there.”

Warren Buffett has given the same advice. In 2008, here’s how he explained it: “In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.”

In the years since, we’ve endured additional political turmoil, another pandemic and another recession, and yet the Dow Jones Industrial Average now stands at 34,000.

The “just stand there” approach is supported by years of data. Study after study has found that investors do better, on average, when they avoid reacting to their investments’ periodic ups and downs, and instead just stand there. I share that view, but this is sometimes easier said than done.

That’s because—despite all the data—it just doesn’t feel like a satisfying strategy to submit to the whims of the market. What can you do to square that circle? Below are some suggestions.

Permanence. Technology commentator Tom Goodwin has pointed out how difficult it is to make predictions in the business world. Consider the music industry. After suffering a nearly 50% revenue decline due to the introduction of online music streaming, the industry defied expectations and bounced back. Revenue is now at an all-time high.

The newspaper industry appeared to be in a similarly tough spot after the internet made lots of news available for free online. Many newspapers did indeed fail. But some found new ways to make money. The New York Times, for example, is seeing revenue hit new records after several difficult years.

The lesson: Prognosticators don’t know the future. They don’t know which way industries, companies or individual stocks are going. But that, in a way, is a good thing. It means you can safely tune out these folks and avoid reacting to their (flawed) predictions.

Resilience. As I’ve noted before, we shouldn’t expect stocks to rise in the future simply because they’ve always risen in the past. Rather, we should expect stocks to rise because share prices, more or less, follow corporate profits.

To continue reading, please go to the original article here:

https://humbledollar.com/2023/06/staying-the-course/

Coming Together - A Less Complicated Financial Life

Coming Together - A Less Complicated Financial Life

Mike Zaccardi  |  Jun 19, 2023

I GOT CAUGHT UP IN some weird investment fads during the recent era of 0% interest rates. With cash investments and bonds yielding almost nothing, I instead sought to pad my investment returns by opening new brokerage accounts to snag promotion cash, and by dabbling in digital currencies and newfangled alternative investments.

Result? I ended up with far too many financial accounts—and it became a burden to keep track of everything. Just a year ago, I had investments in obscure real estate deals, individual pieces of art, bottles of wine, stablecoins and other relics of the speculative pandemic-era mania.

What’s more, after leaving both my fulltime job and my teaching position at the University of North Florida, there were old retirement accounts and a health savings account (HSA) that I was lazy about rolling over.

I craved a less complicated financial life. Simplicity is bliss, as many HumbleDollar writers have noted, and I’m now firmly in that camp. Here are six key benefits I’m enjoying now that almost all of my investments are in one safe place:

1. Getting my weekends back. As my number of accounts grew, keeping tabs on everything became cumbersome. A proud bean counter, I’ve routinely updated my personal finance spreadsheet since I was a freshman at Florida State University in 2007.

But what used to take 10 minutes on a Saturday morning turned into something that felt like a chore. By the middle of 2022, logging into all those unique accounts to tally my net worth took north of 45 minutes. I sought to slim down that process starting at the end of last year.

2. Less wasted mental energy. Helping my future self by streamlining my finances now became mission critical. With all those taxable investment accounts, completing my 1040 tax return became brutal, especially when coupled with the headaches that come with filing taxes for a small business.

I also felt oddly stressed by the disarray in my financial life—and there were far too many emails from all those investment sites.

To continue reading, please go to the original article here:

https://humbledollar.com/2023/06/coming-together/