Scientists Explain How Intelligence Is Linked To Wealth
Scientists Explain How Intelligence Is Linked To Wealth
Today 22:55 Information / Baghdad... Some time ago, Sweden had an army formed by conscripts and before enrolling in the army, Swedish conscripts had to pass mathematical IQ tests. Thus, the data of 59,387 men in the 70s and 80s of the last century appeared in the hands of scientists.
The researchers then obtained data from the Swedish Tax Office on the average annual salary of these men between the ages of 35 and 45 when they were in most professional jobs. Scientists compared this data with that.
A strange picture turned out: up until a certain point, higher intelligence was directly linked to higher earnings.
8 Questions on the Banking Panic of 2023
8 Questions on the Banking Panic of 2023
Posted March 14, 2023 by Ben Carlson
On last week’s Animal Spirits we asked why the Fed’s aggressive rate cuts had yet to break anything in the economy:
Sure, the housing market is basically broken, but everything else has held up relatively well…until last week that is. We recorded our show on Tuesday. By the weekend we would see the 2nd and 3rd largest bank failures in U.S. history, including the biggest bank run we’ve ever seen.
I have lots of questions:
The 4 Most Important Pieces of Advice This Financial Advisor Gave to His 3 Daughters
The 4 Most Important Pieces of Advice This Financial Advisor Gave to His 3 Daughters
Gabrielle Olya Mon, February 28, 2022,
In today’s “Financially Savvy Female” column, we chat with Urban Adams, an investment advisor at Dynamic Wealth Advisors and the father of three young adult daughters. Here, he shares the financial lessons he taught them, his advice for other parents who want to raise financially savvy females and how being the father of daughters affected how he advises others in his practice.
Look for These Major Financial Red Flags Before Depositing Your Next Check
$80,000 Money Scam? Look for These Major Financial Red Flags Before Depositing Your Next Check
Gabrielle Olya Tue, March 14, 2023 GOBankingRates
When Joe Schulz*, a small-business owner based in New Jersey, received a new customer order from a company based in Dubai, he felt that something may be off. It turned out his instincts were right, as his company was targeted for what turned out to be a fake check scheme that could have cost him nearly $80,000. Here’s his story.
If SVB Is Insolvent, So Is Everyone Else
If SVB Is Insolvent, So Is Everyone Else
Simon Black March 13, 2023
On Sunday afternoon, September 14, 2008, hundreds of employees of the financial giant Lehman Brothers walked into the bank’s headquarters at 745 Seventh Avenue in New York City to clear out their offices and desks. Lehman was hours away from declaring bankruptcy. And its collapse the next day triggered the worst economic and financial devastation since the Great Depression.
The S&P 500 fell by roughly 50%. Unemployment soared. And more than 100 other banks failed over the subsequent 12 months. It was a total disaster.
Bank Runs, Now & Then
Bank Runs, Now & Then
Posted March 12, 2023 by Ben Carlson
Silicon Valley Bank, the 16th biggest bank in the country, was closed on Friday. It was the second-biggest bank failure in U.S. history. As recently as November 2021, the market cap of the company was more than $44 billion. That equity is now essentially worthless.
There is a lot to this story but it really boils down to an old-fashioned bank run. A flood of withdrawals from depositors destroyed the bank. If everyone with a Planet Fitness membership showed up at the gym at the exact same time there would be chaos at the squat racks. It would be impossible for anyone to work out and the gym model wouldn’t work.
What Happens to Your Money if Your Bank Fails?
What Happens to Your Money if Your Bank Fails?
Jenny Rose Spaudo Mon, March 13, 2023
With the aftermath of the third largest bank failure in U.S. history upon us following the collapse of Silicon Valley Bank late last week, concerns about what happens to customers’ money when a bank has to close down are abundant. According to the Federal Deposit Insurance Corporation (FDIC), there have been 561 total bank failures from 2001 through 2022. The good news is, prior to 2023’s surge in bank failures, the majority took place during the Great Recession and its aftermath from 2008 through 2011. Zero bank failures occurred in 2021 and 2022.
How to Protect Your Money, Even If You're Not Rich
How to Protect Your Money, Even If You're Not Rich
Rosemary Carlson Sun, March 12, 2023
Asset protection planning is the process of building barriers around your assets, whether those assets are personal or business, to keep them safe from litigation, creditor claims, seizure and burdensome taxes. It's a vital and completely legal component of both financial planning and estate planning. There are a number of key tools you can utilize to accomplish the goal of protecting your assets. A financial advisor can help you structure and organize your assets so that they are more likely to achieve your financial goals.
6 Reasons You Shouldn’t Procrastinate on Your Taxes
6 Reasons You Shouldn’t Procrastinate on Your Taxes
Federal taxes aren’t due until April 18 in 2023, and you might be tempted to wait until the last minute to file. But putting off filing your taxes may not be the best decision. Here are all the reasons why you shouldn’t procrastinate on this yearly chore.
You’ll Have Time to Choose the Right Tax Prep Software
If you wait until the deadline to file your taxes, chances are you’ll settle on the same tax software you used last year. There’s no time to comparison shop when you’re up against the clock. So, you’ll likely end up paying more to file your taxes, or you won’t get the free features you could have.
11 Female Financial Leaders Share the Best Money Advice They Ever Received
11 Female Financial Leaders Share the Best Money Advice They Ever Received
Jaime Catmull Fri, March 10, 2023
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.
When Does Capital Gains Tax Apply?
When Does Capital Gains Tax Apply?
Taxes Updated for tax year 2022.
You sold your house, an investment property, or something else of value. When do you tell the IRS?
When you sell a valuable asset, such as real estate, the IRS wants to know about it. In fact, for the sale of many assets, the IRS finds out even if you don’t tell them, thanks to reporting forms such as Form 1099-S, Proceeds From Real Estate Transactions.
No matter how large the transaction is or how much money you received due to the sale, you wait until you file your income tax return to report the sale to the IRS.