Learning from Failure
Learning from Failure
Adam M. Grossman | Mar 19, 2023 HumbleDollar
IN THE WEEK SINCE Silicon Valley Bank (SVB) failed, a debate has raged: Did the government do the right thing when it decided to guarantee all of SVB’s depositors, including those that exceeded FDIC limits?
On one side of this debate are those who view the government’s action as an inappropriate and undeserved bailout. In an article titled “You Should Be Outraged About Silicon Valley Bank,” The Atlantic argued that the bank’s failure was the predictable result of incompetent risk management. Critics further cite a reality of human nature: If bank executives are confident the government will step in to pick up the pieces every time something goes wrong, they won’t be as careful in managing risk. Economists call this “moral hazard.”
Don’t Regret It
Don’t Regret It
Adam M. Grossman | Mar 26, 2023 Humble Dollar
I SPOKE RECENTLY with a fellow who had climbed Mount Everest. The first question I asked: What was it like at the top?
What I expected him to say was that the view was dramatic. Instead, he said, his time at the summit turned out to be less than he’d expected. For starters, it was 4:45 a.m., so there wasn’t a lot of visibility. In addition, it was minus 45 degrees. Because of that, he didn’t want to stay too long. Reaching the summit, it turned out, wasn’t the most memorable or the most enjoyable part of the trip.
Why Digital Asset Protection is Crucial for Your Business and How to Do It Right
Why Digital Asset Protection is Crucial for Your Business and How to Do It Right
March 20, 2023 Financial Pilgrimage
Whether you are in the business of technology or not, protecting your company’s digital assets, data, and information is pivotal. When you have a business that utilizes the internet, vital information about your business could be at risk. You must protect yourself and your company in whatever business you’re involved in. Luckily, there are plenty of ways to keep data private and utilize all the tools of information technology (IT). Below are a few ways to protect your company, its digital assets, and yourself from malevolent actors.
Charley Ellis: Six Nuggets Of Investment Wisdom
Charley Ellis: Six Nuggets Of Investment Wisdom
Posted by TEBI on March 24, 2023
Charley Ellis has been a voice of common sense in the world of investing for more than 50 years. His book, Winning the Loser’s Game, which explains why low-cost, buy-and-hold indexing is the rational choice for all investors, has become a classic. He’s now aged 85 but still working. Charley recently spoke to Cameron Passmore and Benjamin Felix at the Rational Reminder podcast, and we’d strongly urge you to listen to the whole episode.
Experts: 4 Safest Places To Keep Your Savings
Experts: 4 Safest Places To Keep Your Savings
Brought To You By BASK Bank - GoBankingRates
If you have reached a certain point in your career, you may have a little bit of extra money set aside. While you know that storing your savings in the freezer is not the best idea, you may not be too sure where you should keep it to get the biggest bang for your buck.
We reached out to financial experts nationwide to find out the safest (and smartest) places to keep your savings. We came up with four tried and true methods for protecting your money and maybe even watching it grow.
7 Reasons Nobody Writes Checks Anymore
7 Reasons Nobody Writes Checks Anymore
Andrew Lisa Thu, March 23, 2023
A check is written, signed and dated instructions for a bank to transfer funds. To mail one, you have to wrap that piece of paper in a second piece of paper and then stick a third piece of paper on the outside to prove you paid to have it travel to its destination on at least one gas-burning vehicle. If that sounds like a primitive way to move money, you’re in good company.
According to a GOBankingRates survey of 1,000 American adults, 45% haven’t written a single check in the last year — another 12% wrote fewer than six.
Being Poor vs. Feeling Poor
Being Poor vs. Feeling Poor
By Lawrence Yeo
Growing up, I knew our family didn’t have much money. Our apartment was small, my mom prepared food for a tiny catering company, and my dad was abroad trying to get his small business off the ground. By all financial measures, we were poor.
But here’s the thing: I never felt poor.
Part of the reason was that I never got sucked into the comparison game of material wealth. Many of my friends lived in large homes, but to me, that was a source of joy rather than jealousy. I figured that my friends having large houses just meant that we would have a lot of fun hanging out there. And when it was time to go home, it was simply a return to the warm space that I shared with my family.
Two Key Lessons From the Banking Crisis
Two Key Lessons From the Banking Crisis
By Chris Mamula March 20, 2023
Investing & Taxes, Uncategorized
The failure of Silicon Valley Bank (SVB) and the general health of banks has been all over the news recently. There are many fascinating aspects of this story. One is parsing out the roles different parties and policies played in the bank’s failure. Another is the short and long-term implications as to how this crisis is being dealt with.
While interesting at policy and societal levels, these issues are out of our control and generally irrelevant from a personal planning perspective. However, there is one aspect of this story that every reader of this blog planning for or navigating their retirement should be paying close attention to: risk management.
What Happens to My Mortgage If My Bank Fails?
What Happens to My Mortgage If My Bank Fails?
Nicole Spector Mon, March 20, 2023
Since the abrupt collapse of Silicon Valley Bank, questions around the safety and integrity of all things banking have been swarming. One of those questions is: “What happens to my mortgage if my bank fails?” There’s good news here. If the bank that holds your mortgage goes under, the status of your loan won’t change because it will be acquired by a new lender, according to reporting from The Wall Street Journal. So there’s no cause for stress. That said, you do need to be diligent and take certain steps to protect your finances in the event that your mortgage lender goes belly up.
What Is the State of Women & Money in 2023?
What Is the State of Women & Money in 2023?
Gabrielle Olya GoBankingRates
Women have been making major strides in the worlds of personal finance and careers. A recent LendingTree analysis found that single women now own more homes than single men. And in January, Fortune reported that women CEOs run more than 10% of the Fortune 500 companies for the first time in history. Still, the gender pay gap persists and women continue to be less likely to invest than men — even though data has shown that they tend to be better investors.
The US Government Has Doubled In Size. Are You Better Off?
The US Government Has Doubled In Size. Are You Better Off?
March 21 2023 Simon Black, Founder Sovereign Research & Advisory
If you’re old enough to remember— think back to the year 1999.
Some of the year’s most popular movies included The Matrix, Fight Club, and Star Wars: The Phantom Menace. The euro made its international debut. Vladimir Putin became Prime Minister of Russia. And over in the US, President Bill Clinton narrowly escaped conviction in the Senate for obstruction and perjury charges related to his sex scandal.