What Is 5 by 5 Power?
.What Is 5 by 5 Power?
By Barclay Palmer Updated June 18, 2022
Reviewed By Pamela Rodriguez Fact Checked By Michael Logan
A 5 by 5 power clause in a trust document gives the beneficiary the right to withdraw either $5,000 or 5% of the fair market value of the trust account per year, whichever is greater. This is in addition to the regular income payout benefit of the trust.
The clause is intended to guarantee the beneficiary a minimum dollar distribution in years in which the assets invested for the trust decline. A trust is established in a will in order to provide a regular annual income to one or more beneficiaries from the assets of the estate.
Which of the 3 Financial Phases Are You In?
.Which of the 3 Financial Phases Are You In?
by: Kelli Kiemle, AIF® April 11, 2022
Knowing which of the financial phases of life you are in can help you better plan to build, protect and enjoy your assets, no matter what your age.
Every year we see the same months, holidays and seasons – it’s all pretty predictable. While you may not know when a winter storm will hit, you can usually count on chillier weather come winter. The same can be said for financial phases. While not always easy to predict, you can find patterns if you look for them.
But how does knowing a financial phase pattern help? When it comes to financial planning, the answer is a lot.
You’ve Worked a Lifetime to Build Your Wealth. Here’s How to Keep It!
.You’ve Worked a Lifetime to Build Your Wealth. Here’s How to Keep It!
Michael Torney, CFP®, JD, LLM (Taxation), Senior Adviser Sat, August 20, 2022
The first half of 2022 was one of the worst starts for the S&P 500 since 1970. Many investors saw their portfolios decline by 15% or more during the first six months. On top of that, bonds – usually a safe haven for investors – also experienced a significant decline.
For investors nearing retirement, there is a good lesson here. The skills required to build wealth are different than those required to keep wealth. Just as you had a goal to build your wealth, now you need a goal and skill set to maintain it.
Future Historians May Call This The ‘Crisis Of The 21st Century’
.Future Historians May Call This The ‘Crisis Of The 21st Century’
Notes From The Field By Simon Black August 22, 2022
In the year 210 AD, after two decades of constant warfare, Roman Emperor Septimius Severus was finally satisfied: he had conquered nearly the entire known western world.
This was the year that the Roman Empire reached its maximum territory-- approximately 5 million square kilometers, stretching from Morocco to Georgia, from southern Scotland to western Iran.
8 Best Financial Lessons My Partner Taught Me
.8 Best Financial Lessons My Partner Taught Me
GoBankingRates Jennifer Taylor Thu, August 18, 2022
Your special someone is an amazing person who has improved your life in more ways than one -- including financially. Maybe you were decent at managing money before you met them, but they helped you become even better or perhaps your finances were a mess until they stepped in.
No matter the situation, you received at least one valuable financial lesson from them that changed the way you view money. Now that you're a more responsible spender, less stingy or better at putting money aside for savings, you'd like to share your experience with others.
The New Global Digital Currency That Will Shock The Whole World
.The New Global Digital Currency That Will Shock The Whole World
midmessfair Mid Mess Fair 14th Aug 2022
There is a huge international market of both digital products and physical goods. It is very easy to create, print any paper or any digital number software that can called as “money”. The only problem is how can you persuade other to get them accept your idea and your new currency money.
Now let’s look at the current whole banking finance industry to find the loophole, weakness first before finding a real solution, method to defeat it.
Breaking Points
.Breaking Points
Collaborative Fund Jul 31, 2022 by Ted Lamade
Guest post by Ted Lamade, Managing Director at The Carnegie Institution for Science
Two weeks ago, Mitt Romney wrote an opinion piece in The Atlantic titled, “America Is in Denial”. The piece highlights numerous potentially “cataclysmic events” facing the nation, namely droughts out west, inflation, rising debt levels, profligate government spending, melting ice caps, illegal immigration, and the events of January 6th. Interestingly though, Romney argues that the most significant threat is actually not the events themselves, but rather Americans’ refusal to address them.
The question is why?
20 Ways You’re Throwing Away Money and How to Fix It
.20 Ways You’re Throwing Away Money and How to Fix It
Tweak your habits to keep more money in your pocket.
GoBankingRates -- By Sabah Karimi Aug 2, 2022
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.
The US Is About To Go Full Louis XVI
.The US Is About To Go Full Louis XVI
Notes From the Field By Simon Black August 8, 2022
On September 3, 1783, after nearly a year of excruciating back-and-forth negotiations, all sides had finally gathered together in Paris to sign a historic peace agreement. It was a pretty important peace deal. Because the Treaty of Paris, as it is now known, is what formally ended the American Revolution, and when Great Britain legally recognized the United States as an independent nation.
The treaty was signed in Paris because France had been a major supporter of the US war effort. And just as soon as the ink was dry, French King Louis XVI ordered his finance minister to prepare an accounting of exactly how much money France had spent on US independence.
7 Levels of Financial Freedom
.7 Levels of Financial Freedom: How To Work Your Way Up, According to Experts
GOBankingRates Andrew Lisa Sat, August 6, 2022
Whether you’re living to work, drowning in debt, struggling to save, overspending, or existing from paycheck to paycheck, you’re all too familiar with the invisible chains of financial stress. The answer, of course, is financial freedom, but with so many bills and so little money left over at the end of the month, how could anyone get from here to there?
Grant Sabatier — a self-made millionaire and golden child of the FIRE movement — has created a roadmap that he says can bridge the gap between financial servitude and financial independence. There are seven levels, and if Sabatier is right that most Americans are already at the second level, you only have six more rungs to climb.
How To Get Your Finances in Shape in 12 Months
.How To Get Your Finances in Shape in 12 Months
GOBankingRates Jennifer Taylor Fri, August 5, 2022
Whether you’re buried in credit card debt, haven’t started saving for retirement or don’t currently have an emergency fund, you’re committed to turning things around.
Of course, knowing where to start isn’t always easy — especially if you’re planning to work toward several financial goals.
When it comes to which goals to set for the year, you’ll of course need to consider your unique situation. However, Mark Henry, founder and owner of Alloy Wealth Management, a wealth management firm based in Charlotte, North Carolina, shared six common financial objectives to get you started.