Don’t Mail a Check or Other Financial Docs on This Day of the Week

Don’t Mail a Check or Other Financial Docs on This Day of the Week

Angela Mae   Wed, October 18, 2023

Many people send important financial documents — such as checks, money orders and tax returns — in the mail. While this method might not be as fast as, say, emailing them, it may be more secure. This is because personal information sent via email is more vulnerable to hackers than physical ones. Emailing documents also might leave you more susceptible to identity theft or fraud.

But even mailing out documents isn’t a foolproof method of getting them where they need to be. After all, your documents and the information in them still could get lost or stolen. There also could be delays when sending them, particularly if you choose a busy time of the day or week.

The next time you decide to mail a check or other important financial documents, think twice before sending them on certain days of the week. More than that, make sure you’re using the most secure method possible to protect your information and prevent any issues from occurring.

Best Days To Mail Financial Documents: Monday Through Thursday

Even though the local post office might be open or the mail carrier could be collecting mail on other days, the best days to send financial documents is during the week. In particular, Mondays through Thursdays are likely to be your best bet if you want to ensure quicker delivery times.

“In my experience, the best days to mail financial documents are early in the week — Monday, Tuesday or Wednesday,” said Rahul Paragi, founder of NamesPilot.com. “The postal service has fewer items to process on those days, so letters and packages tend to move through the system faster.”

This holds true when sending non-financial documents as well.

Nicole Beauchamp, a senior global real estate advisor and licensed associate real estate broker at Engel & Völkers, added that she sends other types of documents during the middle of the week as well.

“I typically try to do Tuesday to Thursday when sending things,” she said.

Worst Days To Mail Financial Documents: Friday through Sunday

To continue reading, please go to the original article here:

https://news.yahoo.com/finance/news/don-t-mail-check-other-210054554.html

This Strategy Cuts the Tax Bill of American Entrepreneurs in Half

This Strategy Cuts the Tax Bill of American Entrepreneurs in Half

October 18, 2023  Notes From The Field By Simon Black

 One of the many Orwellian habits of politicians is give cute acronyms to their idiotic legislation.

The CARES Act from 2020, for example, stood for “Coronavirus Aid, Relief, and Economic Security”.

The CARES Act was one of the most destructive pieces of legislation in US history; it paid people to stay home and NOT work, which decimated the US labor market. And it also cost tax payers hundreds of billions of dollars in fraud from the “Paycheck Protection Program”.

But, hey, at least the CARES act shows that they care.

Another ridiculous acronym is the GILTI tax, which stands for Global Intangible Low-Taxed Income. It’s supposed to be pronounced “GUILTY”, which is completely absurd.

First, let me give you some background.

Most countries around the world impose RESIDENCY-based taxation, i.e. you generally only pay taxes if you live in that country. If you move away, you don’t have to pay tax there anymore.

Even high-tax countries like France don’t tax their citizens who leave France. So if a French citizen moves to Singapore or Costa Rica, he/she no longer pays most French income taxes.

The United States is almost unique in the world in that it imposes citizenship-based taxation, requiring US citizens to file and pay federal taxes… even if they move overseas.

Until recently, however, this same rule did NOT apply to US companies; for decades, US companies could ‘move’ overseas, i.e. establish foreign entities in low-tax jurisdictions around the world. And those low- or no-tax foreign entities would not owe any tax in the US.

Enormous companies like Apple, Google, and Facebook famously all took advantage of this benefit by planting their tax flags in low-tax jurisdictions like Ireland or British Virgin Islands.

Doing so saved these companies tens of billions of dollars in taxes, much to the ire of politicians who think they know how to spend everyone’s money better than we do.

So, in 2017, politicians finally changed the law. And US companies who own foreign companies in low-tax jurisdictions became subject to this new GILTI tax… because that’s precisely how the government wants you to feel about reducing your tax bill: guilty.

Of course this is ludicrous. No one should feel guilty for following the government’s own rules to legally reduce their tax bills.

After all, politicians don’t exactly spend your money responsibly, wisely, or oftentimes even ethically.

We’re always told that we should voice our discontent with government in the voting booth. But if we’re being intellectually honest, elections have rarely made things better.

If you really have a problem with the way that incompetent politicians spend your money, then a far better approach is to use their own rules to minimize the amount of money you have to pay them. Simple.

And, ironically, the “GILTI” tax actually presents an interesting strategy to reduce taxes, especially for entrepreneurs and business owners in the Land of the Free.

That’s because, instead of actually punishing or forbidding the ownership of low-tax foreign companies, GILTI inadvertently ENCOURAGED it.

In the past, a US business could set up a new company, along with a tiny office, in a place like the British Virgin Islands where the tax rate is 0%.

All of the employees were still in the US and employed by the US company. All of the work was being done in the US. But all of the revenue, and all of the profit, was being booked by the British Virgin Islands company.

The net result was that the US business, through its BVI company, paid 0% tax.

The one catch was that all the money essentially had to stay in the BVI. If the BVI company paid any of its profits back to the US business, there would be substantial tax to pay.

GILTI changed all of that.

The new rules still allow US businesses to own foreign companies. But now, whenever the foreign companies generate a profit, those foreign profits are immediately taxable in the United States.

Bizarrely, though, the foreign companies’ profits are entitled to a 50% tax discount. Since the current corporate tax rate in the US is presently 21%, this means that foreign profits are taxed at 10.5%.

Now, 10.5% is obviously a lot more than 0%.

But the key benefit of the GILTI rules is that a US business can bring in ALL of its foreign profits, immediately, at the discounted tax rate.

Once that money is in the US, it can be plowed back into the business, or invested in a variety of other asset classes, including stocks, real estate, etc.

Clearly there are a multitude of additional rules and details to understand-- I’ve only provided a very high-level overview; and anyone considering this approach should seek professional tax advice.

For example, this structure is more difficult to implement for brick-and-mortar businesses… though it is especially compelling for online-based businesses, including drop-shippers.

The larger point is to show that there are so many completely legitimate ways to save a lot of money in your annual tax bill. And that’s nothing to feel gilti about.

Simon Black, Founder   Sovereign Man

https://www.sovereignman.com/international-diversification-strategies/this-strategy-cuts-the-tax-bill-of-american-entrepreneurs-in-half-148367/

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.

Why Does It Hinder Building Wealth?

If all of someone’s assets are held in cash, they forgo the wealth-building potential of stocks, stock mutual funds and ETFs (exchange-traded funds), as well as other equity assets, said Dr. Barbara O’Neill, CFP, AFC, CRPC, at RetireGuide.com and owner and CEO of Money Talk.

“It is simply an opportunity cost question; i.e., losing the opportunity to earn higher returns elsewhere,” she said in her statement to GOBankingRates.

O’Neill added that money grows slower in cash assets than it does in equities. In turn, this means that someone will have much less money saved when they retire if they hoard cash for 20 to 40 working years, instead of maintaining a diversified portfolio.

“Cash assets also generally lose purchasing power due to the effects of taxes and inflation. The after-tax return earned on cash assets is often less than the inflation rate, which means that savings dollars will buy less,” she added.

Taxes on Generational Wealth Just Changed: Here’s What You Should Know

https://news.yahoo.com/finance/news/3-top-stocks-gain-inflation-115800459.html

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

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.

This is not hyperbole. I’ll explain:

Remember that Silicon Valley Bank failed because they suffered sudden, massive investment losses… losses that were so large that the bank’s entire capital was wiped out.

And yet Silicon Valley Bank’s hyper-destructive investment wasn’t toxic subprime loans, or some exotic derivative. SVB went bankrupt because they loaded up on US government bonds.

US government bonds are supposed to be THE safest asset class in the world. Yet even supposedly ‘safe’ assets can lose money. And government bonds have suffered enormous losses over the past two years.

The reason is pretty simple: interest rates. Back in the summer of 2020, interest rates were at historic lows. And if you don’t know anything else about bonds, just understand that whenever interest rates rise, bond prices fall.

Banks like SVB bought tons of US government bonds back in 2020 and 2021 when interest rates were at historic lows. So, put another way, banks paid record high prices to buy government bonds.

But starting in 2022, the Federal Reserve started to raise interest rates. And with each successive Fed interest rate hike, bonds became worth less and less.

Silicon Valley Bank’s bonds eventually lost so much money that the bank was wiped out.

The $500 billion dollar problem in the US banking system, of course, is that Silicon Valley Bank wasn’t alone. In fact MOST banks bought government bonds… which means that MOST banks have racked up enormous losses over the past few years.

And the bank that has racked up the worst losses of all… is Bank of America, which reports its quarterly earnings tomorrow morning at 6:45am.

Now, Bank of America has done its best to hide its losses. And they use a completely legal accounting scam to do it.

In short, banks have a quirky option in the way that they classify their bonds; one way is to classify their bonds as what’s called “Available for Sale”, or AFS.

This classification means that if the bank ever needs to come up with some quick cash, they can sell AFS bonds at any time. AFS bonds are literally available for sale, as the name suggests.

The other classification is called “Hold to Maturity”, or HTM. Bonds designed as HTM cannot be sold. Instead, the bank must hold its HTM bonds for their full duration.

So if a bank buys, say, a 30-year Treasury bond and classifies it as HTM, the bank has to hold that bond for the full thirty years. They cannot sell it.

While such accounting vagaries might not be especially thrilling, I assure you that the distinction between HTM and AFS is critical in understanding the scam that’s taking place.

Banks traditionally used to classify the vast majority of their bonds as AFS. And this made sense; AFS is the most flexible classification. AFS gives banks the option to either sell the bonds, or hold them. HTM bonds, on the other hand, cannot be sold and MUST be held to maturity.

And that’s why, back in 2015 for example, Bank of America classified a whopping 83% of its bonds as AFS, and only 17% as HTM. And that ratio was pretty typical of most big banks.

But the nuance of AFS is that, if the bonds lose value, banks have to report those losses… and the bond losses negatively impact their earnings.

In the past, this never really happened. Bond prices were exceptionally stable. And aside from minor fluctuations, banks never really had to report big losses on their bond portfolios. Until now.

Government bonds have lost 23% of their value since 2020 due to the Fed’s interest rate hikes, creating hundreds of billions of dollars of losses for big banks.

A 23% loss for US government bonds is unprecedented, and it’s never happened in modern financial history.

If banks were holding most of their bonds as AFS, like they traditionally used to do, they would have to report these huge losses. And that would be devastating for their earnings, for their stock prices, and for their executive bonuses.

So instead of reporting those losses, the banks have magically reclassified their bonds from AFS to HTM.

Unlike the AFS classification, banks don’t have to record any losses on their HTM bonds. So reclassifying bonds from AFS to HTM is like pretending that hundreds of billions in losses don’t exist.

Bank of America, for example, has at least $100 billion in bond losses, potentially much more. But because they’ve reclassified most of their bonds as HTM, those losses haven’t adversely affected their capital, or their earnings.

Remember when I said that Bank of America used to classify a standard 17% of its bonds as HTM? Well, today, 83% of their bonds are now HTM. It’s a HUGE difference.

And the ONLY reason why they would do this is to avoid recording $100+ billion in losses.

Bear in mind that Bank of America only has around $200 billion in total capital. So if they were honest in their accounting, they’d have to write down roughly HALF of their capital. Maybe more.

This is becoming eerily close to another Silicon Valley Bank problem.

Granted, the market happily ignored Silicon Valley Bank’s financial woes until it was too late. And I’m guessing that, tomorrow morning, the market might also choose to ignore Bank of America’s growing bond losses. For now.

But this problem cannot be ignored forever. And it’s a pretty clear example of what’s known in finance as a “Gray Rhino”.

You’re probably familiar with the famous “Black Swan” metaphor, which refers to a highly improbable, difficult-to-predict event that has a major, negative impact.

The COVID-19 pandemic was an obvious Black Swan event.

The metaphorical opposite of a Black Swan is known as a Gray Rhino-- an event that is fairly likely and should be easy to predict.

Gray Rhinos don’t sneak up on you; visible evidence builds until the risk becomes completely obvious.

And yet, Gray Rhinos are almost always ignored… typically because people have confidence in flawed systems, illogical axioms, or historical legends.

The world is full of Gray Rhinos that very intelligent people choose to ignore. America’s national debt crisis is a Gray Rhino. Social Security’s looming insolvency is a Gray Rhino. The US dollar’s loss of reserve status is a Gray Rhino.

These are all obvious risks that hardly anyone acknowledges. Instead, people have rejected simple arithmetic and clung to an irrational belief system based on the historical legend of America.

Major banks in the US have suffered more than $500 billion in bond losses, wiping out a substantial portion of their capital. Despite some banks’ attempts to cleverly hide those losses with accounting tricks, the problem is obvious.

By the way, this same problem has affected the FDIC-- whose Deposit Insurance Fund is invested primarily in US government bonds… and has hence also suffered massive losses.

It’s also affected the Federal Reserve, which now has roughly $1 TRILLION in losses from its bond portfolio.

(Ironically, many smaller banks are now MUCH safer; smaller banks are typically much more responsible with their depositors’ savings, and so they haven’t suffered the same types of losses.)

This is a Gray Rhino. But unlike other Gray Rhinos like the national debt, the US dollar, and Social Security which may still be a few years from erupting, this banking Gray Rhino might rear its head much, much sooner.

To your freedom,  Simon Black, Founder  Sovereign Man

https://www.sovereignman.com/trends/silicon-valley-bank-part-ii-starts-tomorrow-at-645am-148358/

How To Cash In The Coins Sitting Around Your House

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.

The Federal Reserve is encouraging people to put their coins back into use by depositing or exchanging them for bills.

If you’re looking for a way to make those coins easier to spend, there are several options.

Where Can I Cash My Coins?

Your Bank Or Credit Union

Many banks and credit unions offer coin exchange services, including national banks such as Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank and more.

“The first step is to call your local bank branch and ask about their coin acceptance policy,” says Steve Kenneally, senior vice president of payments at the American Bankers Association. “Some banks want the coins to be rolled, some banks have a big coin sorter and some will ask you to go to another branch because they might share one sorter for the region.”

Before you haul out your change, you might want to chat with your bank or credit union’s customer service department to see what coin exchange services are available. A bank may accept coin exchanges from noncustomers, but you may be charged a fee if you aren’t a customer of that bank.

A Local Coinstar Location

There are over 20,000 Coinstar kiosks worldwide, which means you likely have one nearby. Customers can exchange their coins for cash, e-gift cards, tax-deductible charity donations and cryptocurrency. There’s a caveat: Coinstar machines charge an 11.9% processing fee to change your coins into cash. The e-gift card option is fee-free, however, and customers can get e-gift cards for one of more than 20 retailers, including Amazon, Apple and DoorDash.

https://news.yahoo.com/cash-coins-sitting-around-house-180044816.html

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

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.

1. Market Volatility

Even the best-laid plans can get derailed by market volatility.

“Retirees may experience significant market volatility in the first 10 years of retirement,” said Scott Neu, accredited investment fiduciary (AIF), financial advisor at Reinke Gray Wealth Management. “This can impact their retirement savings, especially if they rely heavily on investment income.”

To be able to ride out any volatility in the market, Neu recommends the following: “Diversification, asset allocation and periodic portfolio rebalancing can help mitigate the impact of market fluctuations. Maintaining an emergency fund for short-term expenses can also reduce the need to sell investments during downturns.”

2. Longevity Risk

“People are living longer, which means their retirement savings must last longer,” Neu said. “Outliving their savings is a common concern.”

To mitigate this risk, it’s important to have the proper withdrawal strategy in place.

“Financial advisors recommend a sustainable withdrawal strategy, such as the 4% rule, which ensures retirees don’t deplete their savings too quickly,” Neu said. “Annuities or longevity insurance can also provide guaranteed income for life.”

3. Inflation

Inflation can make it hard to make ends meet during your income-earning years, and it can put even more strain on your finances if you’re living on a fixed income.

“The rising cost of living can erode the purchasing power of retirees’ savings, making it challenging to maintain their desired lifestyle,” Neu said.

https://news.yahoo.com/finance/news/10-financial-challenges-ll-face-120022874.html

13 Steps to Increase Your Financial Resilience

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.

1  Crunch the Numbers

Start by tracking how much money is coming in—and exactly where it’s going out. Budgeting doesn’t have to be complicated; you can use apps or even just a notepad. But opening this key window into your finances is the first step away from living paycheck to paycheck and toward financial resiliency.

2  Snip Your Spending

Sure, spending depletes your savings, which decreases your resilience. But it becomes a problem when you regularly spend more than you can afford. The good news: You can most likely find expenses to cut. Comb through your payments, both monthly and day to day: What aren’t you using? What can you do without? Every little bit helps.

3  ​Build Your Emergency Fund

With your baseline established and optimized, it’s time to assess how much you can afford to save for emergencies. You’re planning for the future, so even if you’re only setting aside a little each month, the amount will grow with interest when you use a high yield savings account, CD or money market account.

4  Play the Long Game

Keeping the future in mind will help you stay prepared for what comes next. Look at what you need for medium-term needs, like big purchases, and begin to save for retirement. That may seem a long way off, but starting now will make you that much more resilient down the line.

5  Always Keep Learning

Having a steady income can help you stay resilient in your spending and saving. Lots of factors can disrupt employment, of course, but having transferable, marketable skills will make it easier to find work if you lose your job. Figure out what knowledge you need to reach the next level at your current job or pivot into a new career, then start making it happen.

6  Network, Network, Network

LINK

https://www.synchronybank.com/blog/financial-resilience/?utm_campaign=29562324&utm_medium=display&utm_source=yahoo&utm_content=361478033_552696373_188612781&sitecode=CB_PG_N_YA_NA_FR_MM_NA_BL563&dclid=CNGEqdW55YEDFbTgKAUdeC8DNQ

5 Questions to Ask When Choosing a Financial Advisor

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.

Finding a fiduciary shouldn’t be that hard. Thankfully, it isn’t.

Whatever your reasons for seeking financial advice, it’s important to have a list of questions planned to ensure you’re hiring a financial advisor who can help you plan to reach your goals.

5 Questions to Ask When Choosing a Financial Advisor

1. Are You a Fiduciary?

Fiduciaries are financial advisors with a legal obligation to prioritize your interests as they manage your assets or money.

Unlike a broker who may push you into insurance policies or investments to rack up fees and commissions, fiduciaries are bound to recommend options that benefit you, the customer. While conflicts of interest can still exist, any potential conflicts of interest must be disclosed.

2. How Much Experience Do You Have?

In addition to asking about their professional certification, it can also be a good idea to ask a prospective financial advisor about their overall experience.

Generally, the more experience they have the better, especially if your financial situation is complicated. You should consider asking about their education, previous employers and track record of success.

You might also want to consider performing a background check to find out whether they’ve ever been convicted of a crime or been involved in a criminal investigation by a regulatory or trade group.

Don’t be afraid to ask for references from current or previous clients, and be wary of a financial advisor who seems reluctant to provide this information.

3. What Type of Services Do You Offer?

To continue reading, please go to the original article here: LINK

5 Ways to Best Prepare Your Family for a Financial Emergency

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.

You’ll want to consider the most critical expenses in an emergency and the nice-to-haves that could be avoided or reduced in a crisis. Below are a few additional ideas to prepare your family for financial emergencies.

Create a Buffer

Most people spend every dollar without setting aside enough for emergencies. Planning for financial trials starts with ensuring your budget has some wiggle room. If you’re already at max spending, look for ways to save on things like insurance, groceries, cell phones, etc. You can also cancel services like your entertainment subscriptions to create a buffer if needed.

Use your buffer to start an emergency fund. Set a goal for how much you want in the fund and set aside some money each month to do it. Once you have your emergency fund in place, the next step is to keep it growing. You can set up an automatic transfer from your checking account into a high-yield savings or money market account every month to build up a healthy buffer.

Your buffer size depends on your income, essential bills, and how long you can live without one income if you are in a two-income home. Some experts suggest saving as much as 20% of your total income to account for major financial emergencies. Saving can take time, but the more you save, the better. If you need to go on social security or social security disability at some point, there are benefits for family members that you can also file for. This added income can help you create a buffer, especially if you still have children at home.

Balance Your Books

Balancing your books is essential to managing your financial situation, particularly if you’re living paycheck to paycheck. It’s important for you to keep track of how much money is coming in and where it’s going out so that you can spot any problems before they become serious.

If you’ve lost track of your finances, take some time right now to review all the accounts in which you have cash savings or investments, such as checking accounts, savings accounts, company stocks, and retirement funds. Write down each account and who holds those assets on behalf of yourself or others. You may also want to keep track of household assets such as cars or real estate property—this information can help determine the amount at risk should something unexpected like losing a job.

https://financialpilgrimage.com/financial-emergency/?expand_article=1

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

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.

Over the next several centuries, the Roman government invested heavily in Britannia and built an incredible civilization there, including roads, engineering works, and major building projects.

Britain became a kind of paradise; in addition to the exceptional Roman works, the weather was also just about perfect. The soil was fertile. And it was sparsely populated.

All of this caught the eye of barbarian tribes on the European continent, who constantly attempted to migrate into Britannia. But Roman legions defended against these incursions for centuries.

By the early 400s, however, the western Roman Empire was essentially finished. Inflation was out of control. The legions were revolting. Civil wars and invasions were commonplace. And the Roman government simply no longer had the resources to provide security for faraway provinces.

So, in 410 AD, the Roman emperor Honorius essentially abandoned Britannia and stopped providing border security.

(Honorius was widely considered incompetent; in fact the ancient historian Procopius describes him as a complete buffoon who may have had a few screws loose.)

With Roman security gone, Germanic barbarian tribes almost immediately began mass crossings over Britannia’s southern border. And, over time, they made the land their own-- by slaughtering many of the local Britons who remained.

The Germanic tribes-- especially the Angles, Saxons, and Jutes-- brought their ‘Anglo-Frisian’ language with them. This language developed rapidly into what linguists call ‘Old English’, and Rome’s abandonment of Britannia is the key reason why modern English is rooted in German.

Personally I’ve always been fascinated by how languages develop-- and English is especially interesting.

When the Vikings invaded Britain and established their own settlements in the mid-800s, their ‘Old Norse’ language mixed with Old English. The influence of Old Norse is still obvious today; dozens of many common words including knife, rotten, sky, and wrong are of Norse origin.

After William the Conqueror invaded England in 1066, the language once again transformed-- this time with heavy French influence.

This is one of the reasons why there are so many synonyms in our modern language; the word ‘ask’ is Germanic in origin. But the word ‘inquire’, which means almost the same thing, is French in origin.

There are so many other examples: motherhood/maternity. Holy/Sacred. Work/Labor.

It’s also fascinating how, as language evolves, words take on different meanings. For example, in the 1300s, the word ‘nice’ used to mean ‘ignorant’ or ‘foolish’. Yet today it has a totally different meaning-- pleasant and kind.

Often times these changes are cultural. There was a time, for example, when it was common to describe a happy, joyous person as ‘gay’. Now it almost exclusively refers to someone’s sexuality.

And sometimes, of course, governments and institutions deliberately adjust the language, often to suit a political agenda. Mao Zedong, Joseph Stalin, Adolf Hitler, and North Korea’s Kim Il Sung all manipulated the definitions and even eradicated words from their languages.

Sadly we see similar Orwellian tactics with the English language today. The word liberal, for example, originally referred to someone who favored individual liberty. Then it was hijacked by people who never saw a tax or regulation they didn’t like.

And the definitions for ‘man’ and ‘woman’ were crystal clear for all of human history until just a few years ago.

The latest, however, is the new definition of the word “rich”.

‘Rich’ is Germanic in origin, similar to the German word reich; 1,000+ years ago it referred to a ruler or powerful person. It started being associated with money in the 1300s.

But even still, the word rich for centuries has been typically associated with tremendous, almost unimaginable wealth.

When I was a kid and watched Scrooge McDuck swimming in an indoor pool filled when gold coins, I thought, “man, that guy is rich”.

Leave it to Rep. Alexandria Ocasio-Cortez to change that definition.

 To continue reading, please go to the original article here:

https://www.sovereignman.com/international-diversification-strategies/aoc-wants-you-to-be-rich-just-not-the-way-that-you-think-148232/

10 Frugal Money Habits That You Need To Embrace

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.

Some frugal habits can take time, patience and consistency to truly adopt, while others are relatively simple. In both cases, switching to a more frugal lifestyle is often more than worth doing.

That said, here are some specific frugal money habits that might be hard to create at first, but that are actually rather worth it.

Buy Food Strategically

Groceries are an essential expense, but it’s easy to go overboard and splurge on things you don’t need. Most grocery stores are designed to encourage impulse buying, especially when you first walk in or are nearing the checkout line. But if you’re trying to cut down on spending, one of the first things you should consider is your grocery bill.

One way to reduce unnecessary expenditures on groceries is to shop with a list and only buy the things that are on that list — no exceptions.

“One of the areas that many people have been struggling with saving on is groceries [as] the cost has gone up a lot over the past few years,” said Kendall Meade, certified financial planner at SoFi. “Have a grocery list (and plan it around the sales that week or month).”

While you’re at it, do some weekly or biweekly meal planning so that you know what to put on that list. You can also check your cupboards or refrigerator to see what you already have and plan your meals around that.

“Meal plan to ensure no food goes to waste (people also might be hesitant to implement this one because it does take some work on the front end but may actually save you time overall,” Meade said. You can also shop at discount grocery stores such as Sam’s Club, Aldi, Lidl or Costco to save on groceries.

Another way to save money on groceries is to buy in bulk — but only if you know you’re going to be able to use whatever you get.

https://www.yahoo.com/finance/news/10-frugal-money-habits-embrace-110020643.html