Inheritance Tips So You Don’t Screw Up Your Child’s Life
.Inheritance Tips So You Don’t Screw Up Your Child’s Life
Posted by Financial Samurai
If you’ve amassed a decent amount of wealth, you will likely want to leave some of it to your children. Let’s discuss some inheritance tips so we don’t screw up our children.
One of the reasons why my 30-year-old neighbor still lives at home with his parents is probably because he expects to inherit a boatload of assets. His parents’ home, alone, is probably worth about $2.5 million.
The great thing about my neighbor’s living situation is that his parents only come to visit during the weekends. His parents have another home in the North Bay. He also rents out one of the rooms to his friend.
Some Clear Thinking On Gold At Its All-Time High
.Some Clear Thinking On Gold At Its All-Time High
Notes From The Field By Simon Black August 3, 2020 Bahia Beach, Puerto Rico
For as long as I can remember, I’ve been a fan of Bruce Lee. I was probably about four years old when I first watched one of his movies. And I was instantly hooked. The guy was legendary.
As a teenager, I learned more about how he lived, and I began to admire his tenacity, discipline, and relentless pursuit of self-improvement… qualities that I endeavored to attain. I remain a fan to this day. In fact there’s even a Bruce Lee mural on the wall at our office in Chile.
So when I had the opportunity to purchase some of Bruce Lee’s artwork a few years ago-- sketches that he drew with his own hand-- I jumped at the chance. It cost me around $8,000… but it was the best money I ever spent. I had it professionally framed and hung in my home, and it’s probably my most prized possession.
Overcoming Financial Obstacles To Investing In Gold And Silver
.Overcoming Financial Obstacles To Investing In Gold And Silver
July 9, 2020 Investing Precious Metals
So far, we’ve unpacked the top two most frequently cited objections highlighted by recent research: 1) the investor is taking time to consider an investment proposal currently in hand, and 2) the investor is still in the initial research phase of his or her precious metals exploration.
The third most common reason given has to do with the price of gold. Specifically, investors cite objections such as not having "enough" money for gold and wanting to “time the market” by waiting for the price of gold to drop.
Below, we’re teasing out the nuances of these topics and providing what we hope will be helpful insights for anyone else who may be grappling with the same trepidations in their investment journey. Read on to learn more!
People Fear They’ve Got Too Much Cash in Their Bank Accounts
.People Fear They’ve Got Too Much Cash in Their Bank Accounts
Donald Moore Bloomberg July 31, 2020
(Bloomberg) -- The savers are getting restless.
Running out of guaranteed ways to get meaningful returns, some people are increasingly being tempted to raid their interest-earning cash savings to load up on assets such as bitcoin, gold and stocks. The comfortable, if small, returns of high-yield savings accounts are looking less palatable as volatile assets take off.
For a while, Brian Harrington, 28, had been satisfied with a high-yield savings account at Ally Bank, earning a risk-free 2%. Now, the marketing consultant in Anaheim, California, is planning to convert his remaining $15,000 in savings into bitcoin. He thinks the future is one of long-term economic stagnation and low rates. “I’m not rooting for Doomsday,” he said. “But you have to keep searching for yields.”
10 Steps to Become a Millionaire in 5 Years (or Less)
.10 Steps to Become a Millionaire in 5 Years (or Less)
Increase your income, lifestyle, and joy Benjamin Hardy, PhD Mar 23, 2019
It doesn’t matter where you currently are in your financial situation — whether just starting out or already making lots of money. Most people, no matter what their income, are treading water. As a person’s income rises, so does their spending. Few people understand how to continually increase their income, lifestyle, and joy at the same time.
In this article, you will learn:
How to become wealthy
How to build a life that continually increases your level of confidence and joy
How to continually expand, learn, grow, and succeed as a person
How to develop mentorships, friendships, and strategic partnerships with nearly anyone you want
If these things are not interesting to you, then this article was not written for you.
Here’s how it works.
Opinion: How To Protect Your Money — At Every Age
.Opinion: How To Protect Your Money — At Every Age
Outside the Box Published: July 29, 2020 By Stephen Augstell
Learning from mistakes in uncertain times
Growing up, my friend’s mom always gave me good advice. When things went terribly wrong, Mrs. Brown would say, “It’s a learning experience, Stephen.” I realized that the experience, however painful, could serve me well in the end.
80% of older Americans can't afford to retire - COVID-19 isn't helping The fallout of COVID-19 has yet to be fully measured, but it’s fair to say that most of us have been impacted in some way — some more than others. However, what we learn from challenging occurrences can help us manage risks going forward.
In these uncertain times, the risks you face depend on where you are along your course toward reaching your goals. Whether you’re just starting out and in your 20s, or you are older and further along your path, consider the following measures to help mitigate the damage of the next unforeseeable event.
Mortgage Rates Are Effectively Negative In the Land Of The Free
.Mortgage Rates Are Effectively Negative In the Land Of The Free
Notes From The Field By Simon Black July 22, 2020 Bahia Beach, Puerto Rico
By the late 200s AD, the economy of ancient Rome was in serious distress.
There was hardly a single year during that entire century without some major crisis– civil war, barbarian invasion, plague, imperial assassination, political scandal, or economic depression.
It was so bad, in fact, that historians refer to this period as the Crisis of the Third Century. And the Roman economy suffered immeasurably as a result of all the turmoil.
In a desperate effort to make ends meet, Rome’s emperors routinely resorted to debasing the currency.
Your Money Problems: Why They're All Your Fault
.Your Money Problems: Why They're All Your Fault
By Tara Struyk
I love writing about money — not because I’m obsessed with wealth (or my relative lack thereof), but because I think the way we spend our money reflects who we are, good or bad. That’s probably why I bought the very first condo I saw. I’m known to be impatient, impulsive even, in just about all things.
Was it a mistake? So far so good, but I left a lot more to fate than is probably wise in a six-figure purchase. And let’s just say that I hope to exercise a little more self control next time. Of course, whether it’ll actually work out that way is another story altogether.
But that’s really what issues that surround money are all about, isn’t it? The way we behave with our money is a lot like many other things in life — we know what we should do, but that hardly means we actually do it.
Why Personal Finance Isn't Personal for Mint
.Why Personal Finance Isn't Personal for Mint
Expert Interview with Luke Landes
Since 2003, Luke Landes has been writing about personal finance and ensuring your money is wisely spent. Luke took a moment away from his site, Consumerism Commentary, to speak with us about caring for your money and why, surprisingly, personal finance isn't as "personal" as we think.
What are some common misconceptions you see about finance?
"Personal finance is personal!" Here's an interesting conundrum. One of the reasons given for an apparent lack of good financial decision-making among the public is that money-related decisions are more about emotion than mathematics. We all learn basic addition and subtraction when we're young. People with uncontrollable amounts of debt have no lack of understanding of arithmetic; this result is due to something other than the question whether a bank balance greater than zero is better than one less than zero.
Human beings simply make decisions with emotions rather than with logic. When financial literacy tries to solve the problem through education, it's often focusing on the wrong things.
8 Places Burglars Rarely Search in a Home
.8 Places Burglars Rarely Search in a Home
More than 2 million burglaries are reported in the U.S. every year – and 66% of them are residential. When it comes to home type and seasons, burglaries run the gamuts: Renters are just as likely as homeowners to have a break-in and although warmer months see a spike in home invasions, no season is safe. With this level of prevalence and unpredictability, it’s essential that every person protect his or her belongings.
Once inside a home, smart burglars know exactly where to look first. You might think you were slick hiding your jewelry in the medicine cabinet or at the bottom of an underwear drawer, but those are actually a few of the first places burglars look when entering a home.
Instead of leaving your items vulnerable to being found in common home hiding places, check out these more covert options instead:
Money Has Become Associated With Greater Happiness
.Money Has Become Associated With Greater Happiness
By Tara Bahrampour July 1, 2020
A new report finds that in recent decades, having more money has become increasingly associated with greater happiness.
The Expanding Class Divide in Happiness in the United States, 1972—2016, published last week in the journal Emotion, found that among people age 30 and older, the correlation between income and happiness has steadily risen over the years.
The study used data from the General Social Survey, one of the longest-running nationally representative surveys of U.S. adults, with 44,198 participants between 1972 and 2016.