DINARRECAPS8 10/18/23 DINARRECAPS8 10/18/23

Financial Expert Warns You’re Missing Out on Wealth by Hoarding Money

Financial Expert Warns You’re Missing Out on Wealth by Hoarding Money — Here’s How

Yaёl Bizouati-Kennedy Tue, October 17, 2023

While inflation is cooling down — standing at 3.7% in September, according to the Oct. 12 Consumer Price Index (CPI) — it is still a far cry from the Federal Reserve’s 2% target goal. In turn, the Fed seems poised to raise rates at least once more this year — which would continue to put pressure on Americans’ wallets.

Against this backdrop, it’s no wonder that some may find the “cash is king” mantra attractive. Yet, experts warn that you could be missing out on wealth by hoarding money.

DINARRECAPS8 10/17/23 DINARRECAPS8 10/17/23

Silicon Valley Bank Part II Starts Tomorrow At 6:45am

Notes From the Field By Simon Black October 16, 2023

It’s been seven months now since Silicon Valley Bank went bust. And so much has happened in the world since then that SVB’s collapse almost feels like ancient history. But something is going to happen tomorrow-- at precisely 6:45am Eastern time-- that could rekindle anxiety in the banking system once again.

And it’s not hard to understand why; the problems in the banking system… the problems that brought down Silicon Valley Bank and others… didn’t go away. In fact they got worse. And now several other large US banks are getting dangerously close to the edge.

DINARRECAPS8 10/10/23 DINARRECAPS8 10/10/23

How To Cash In The Coins Sitting Around Your House

Chanelle Bessette Sun, October 8, 2023

(NerdWallet) – Coins are rarely used to make purchases in the U.S., but you probably have a container somewhere in your house that’s slowly accumulating the pennies, nickels, dimes and quarters that you get in change.

In fact, there was an estimated $48.5 billion in coins sitting in American households — such as in a piggy bank or junk drawer — according to a report issued by the government-led U.S. Coin Task Force during the COVID-19 pandemic. These dormant coins led to a disruption in coin circulation that is still affecting the U.S. economy, though to a lesser extent today than during the peak of the pandemic.

DINARRECAPS8 10/8/23 DINARRECAPS8 10/8/23

10 Financial Challenges You’ll Face in the First 10 Years of Retirement

Gabrielle Olya Fri, October 6, 2023

You’ve created a plan, you’ve saved toward your goals and now you’re finally retiring. While you’ll ideally be in for smooth sailing at this point, it is possible that you will encounter some financial storms in your early retirement years.

The best way to weather these storms is to be prepared. Here are 10 financial challenges you’re likely to face in your first 10 years of retirement — and how to move past them.

DINARRECAPS8 10/8/23 DINARRECAPS8 10/8/23

13 Steps to Increase Your Financial Resilience

By Rich Beattie Published February 17 2023

Are you ready for financial turbulence? Many people are not, even though ups and downs are certain to happen. Before the pandemic, for example, about one-third of American families weren’t financially prepared for the disruption of even a mid-sized financial shock. Preparation against the unknown is an essential part of developing so-called financial resilience—the ability to withstand a job loss, an economic downturn or anything that impacts your income or savings. Being financially resilient doesn’t mean having a lot of money. It’s about being smart and proactive with the money you have, so you can feel more confident that your finances are ready today for whatever happens tomorrow.

DINARRECAPS8 10/6/23 DINARRECAPS8 10/6/23

5 Questions to Ask When Choosing a Financial Advisor

October 2023 SmartAsset

Whether you’re saving for retirement, considering major purchases, planning your estate, or just want a second set of eyes on your investments, hiring a financial advisor who you feel best suits your needs could be key. A 2022 Northwestern Mutual study found that 62% of U.S. adults admit their financial planning needs improvement. However, only 35% of Americans work with a financial advisor.

The value of working with a financial advisor varies by person. While advisors are legally prohibited from promising returns, research suggests that people who work with a financial advisor feel more at ease about their finances and could potentially end up with about 15% more money to spend in retirement.

DINARRECAPS8 10/5/23 DINARRECAPS8 10/5/23

5 Ways to Best Prepare Your Family for a Financial Emergency

Financial Pilgrimage September 5, 2023

Most Americans don’t have enough money saved for a $400 financial emergency, let alone anything larger than that. Managing your finances can be stressful, but it doesn’t have to be. Planning for unexpected emergencies is key to managing your money and keeping stress levels low. The first step to developing that plan is deciding what types of emergencies you want to prepare for—and then taking steps to ensure you’re ready for them when they happen.

The typical rule of thumb is to save three-to-six months of your monthly expenses for emergencies. This likely looks different depending on your family situation. A couple with no kids will likely be able to spend much less than a family of five.

DINARRECAPS8 10/5/23 DINARRECAPS8 10/5/23

AOC Wants You To Be Rich. Just Not The Way That You Think

Notes From the Field By Simon Black October 4, 2023

When Julius Caesar first crossed the English channel and invaded Great Britain in 55 BC, he thought it was primitive, barbaric, and uncivilized… especially when compared to the splendor of Rome.

But Caesar knew it had potential. He wrote to his colleagues back in Rome that Britannia had vast minerals, timber, and livestock, and that it could provide excellent resources for the Empire.

The Senate concurred. And though it took nearly 100 years, Rome eventually conquered Britannia and made it an imperial province.

DINARRECAPS8 10/4/23 DINARRECAPS8 10/4/23

10 Frugal Money Habits That You Need To Embrace

Angela Mae Tue, October 3, 2023

The word “frugal” often has negative connotations attached to it. Some people hear the term and associate it with being cheap or stingy, but that’s not the case at all. Being frugal can actually be a very positive thing in your life, especially if you’re trying to change your spending and savings habits for the better.

That doesn’t mean it’s easy to adopt a more frugal lifestyle or money mindset. Certain frugal money habits, no matter how beneficial they might be for your present and future, can be tricky to implement in your day-to-day life.

DINARRECAPS8 10/3/23 DINARRECAPS8 10/3/23

What Are the Tax Consequences of Being Added to a Deed?

Patrick Villanova, CEPF® Tue, October 3, 2023

Adding another person to a real estate deed can have specific tax implications for both parties.

Property deeds are not just pieces of paper – they hold the power to impact your fiscal situation considerably. Property deeds are legal documents that provide proof of ownership. When you extend ownership rights by adding someone to your property deed, there are tax implications and potential risks associated with the transaction.

DINARRECAPS8 9/28/23 DINARRECAPS8 9/28/23

7 Mental Money Traps That Keep You Poor

Crystal Mayer Thu, September 28, 2023

A recent study shows that over 60% of Americans are living paycheck to paycheck. If you are like one of the millions of people struggling to find financial stability, you might be stuck in the wrong mindset. Avoiding certain mental money traps can help you adjust your spending and start saving for your future.

Creating a budget and sticking to it can help you achieve your financial goals, but you will also need to rethink how you spend money. Prioritizing your spending can help ensure that you have money left over each month to invest. If you are tired of seeing a miniscule balance in your checking account, reconsider these 7 mental money traps that keep you poor.