The Worst Assets To Inherit and How To Address Them Before It’s Too Late
The Worst Assets To Inherit and How To Address Them Before It’s Too Late
David Nadelle Thu, January 26,
The sudden and lengthy appearance of the coronavirus pandemic delivered many lessons — among them, that life can be taken away from even the healthiest individuals in the blink of an eye. Planning appropriate asset allocation before you die is an absolutely necessity for every adult.
Having a legally binding will in place lets you decide who will inherit your financial assets and possessions when you pass away. However, if you die without a will, the state in which you lived will make these very important decisions for you.
9 Principles & Strategies to Becoming a Millionaire (in 2023)
9 Principles & Strategies to Becoming a Millionaire (in 2023)
By Psychologist & Writer Dr. Benjamin Hardy
It’s not how good you are but how good you want to be - You have to want it!
We all become the product of our desires - If you don’t want to become successful – you won’t – We all have stories and values in our mind – and a lot of people think that wealth or success is bad - this is not true - There has to be a “why” behind it -
Don’t Hide Your Emergency Cash in These Spots
Don’t Hide Your Emergency Cash in These Spots
Cynthia Measom January 23, 2023
To keep from having to go into debt when the unexpected happens, financial experts recommend that you open a savings account and build an emergency fund that can cover three to six months' worth of expenses. While that's all well and good, sometimes you need to have cash within arm's reach.
"It is smart to have a stash of money on hand in case of natural disasters or major power outages when electronic money transfers may not be possible," said Andrew Latham, certified financial planner and content director for SuperMoney. "However, the lion's share of your emergency savings should be in an FDIC-insured savings account earning interest."
5 Major Money Mistakes To Avoid When You’re Nearing Retirement
5 Major Money Mistakes To Avoid When You’re Nearing Retirement
Jan 24, 2023 By Jennifer Taylor
You’ve been working hard your entire adult life and you’re finally nearing retirement. The prospect of having more time to relax and enjoy yourself is exciting, but you’ll need money to do that.
As you wrap up your peak earning years and prepare to step away from the workforce, it’s important to make smart money moves that will protect your nest egg. All it takes is one poor financial choice to throw a wrench in your plans — and financial stability — so take the time to make informed decisions.
They Finally Figured Out How To Lower Inflation!
They Finally Figured Out How To Lower Inflation!
By Simon Black January 24, 2023
We all know that inflation has been well above the Federal Reserve’s target rate of 2% for nearly two years now. It peaked at over 9% last June and has remained stubbornly high since then. But it seems like the bureaucrats have finally found a way to reduce inflation.
No, it has nothing to do with reducing regulations, cutting taxes, and re-embracing capitalism. The bold solution that our courageous policymakers have come up with is to change the way inflation is calculated.
The Future of Banking: When Will We No Longer Need Cash?
The Future of Banking: When Will We No Longer Need Cash?
Andrew Lisa Tue, January 24, 2023
In 1950, Americans could pay for dinner at a restaurant even if they left their money at home for the first time in history. That was the year Diners Club introduced the world’s first credit card.
More than 70 years later, the cashless society that’s been promised since then still hasn’t materialized. Despite direct deposit, BNPL, Apple Pay, Venmo, cryptocurrency and the rest, green paper rectangles with pictures of dead presidents still have a home in our wallets.’
What Does This Look Like 10 Years From Now?
What Does This Look Like 10 Years From Now?
Simon Black January 23, 2023
On March 2, 1629, after years of escalating tensions with his own government, King Charles I of England dissolved parliament and ordered all the politicians to go home.
He was only in the fourth year of his reign, but Charles was already a very unpopular king. One of his worst habits was frequently abusing his power and taking unilateral executive actions-- raising taxes or passing new regulations-- which would ordinarily require the approval of parliament.
But Charles hated going through parliament, and he routinely found ways to bypass them; often he would creatively interpret obscure passages of ancient laws as justification to do whatever he wanted.
What To Do With Lump Sum Pension Payout
What To Do With Lump Sum Pension Payout
I’m about to get $130,000 from a lump-sum pension payout, but I don’t know what to do with it
By Beth PinskerFollow
A reader wants to know the best way to invest a lump sum of money to have it last through retirement
Got a question about the mechanics of investing, how it fits into your overall financial plan and what strategies can help you make the most out of your money?
Dear Fix My Portfolio, I am about to receive a lump-sum payout from a pension plan I was in. It’s around $130,000. Need some advice on the best way to invest this money. I am turning 60 in April and don’t have a 401(k) or IRA plan. Stephen in Connecticut
The Similarities Between Fitness and Personal Finance
The Similarities Between Fitness and Personal Finance
December 20, 2021 Financial Pilgrimage
What do physical fitness and personal finance have in common? On the surface, there are a lot of differences between your fitness program and financial wellness. One involves income, spending, saving, and investing. The other involves physical activity, nutrition, and overall health. The reality is that financial fitness (and just fitness) are some of the most critical areas of our lives. It’s no coincidence that there are striking similarities between fitness and finance once you start digging in.
Financial Fitness is Behavioral
How to Create Wealth during a Recession
How to Create Wealth during a Recession
By Financial Imaginer
There’s no time like the present to create wealth. Most wealthy people know that it’s during difficult times when possibilities for building wealth abound. So if you’re looking to create some serious financial stability for yourself and your loved ones, don’t wait – don’t let this crisis go to waste – start now. Learn how to create wealth during a recession with the following 8 tips.
1. Never let a Crisis go to Waste.
When it comes to creating wealth, there’s no such thing as a bad time – only good opportunities disguised as bad times. So instead of being afraid of a recession, use it as an opportunity to create wealth. Change your goggles, instead of using your fear glasses, look for opportunities!
Crash at Mad Wallstreet
Crash at Mad Wallstreet
By Financial Imaginer
In the late 1990’s we used to go to a club called “Mad Wallstreet” in central Switzerland. It was the club everyone loved to go to, and it had a really cool feature: Prices for drinks used to be shown like stock market tickers. They fluctuated in line with demand, the general mood on the dance floor and it played with our emotions. We learned how to take advantage of a market crash!
The more people ordered drinks, the higher the prices would go. If at one point demand started to fade away, the guys behind the counter would initiate a stock market crash. Whenever that happened, all the drinks from simple beers to cocktails and shots would suddenly be incredibly cheap and the crowd would cheer!