DINARRECAPS8 5/2/24 DINARRECAPS8 5/2/24

‘Automatic Millionaire’ David Bach: 7 Retirement Planning Tips He Swears By

Kristopher Kane Tue, April 30, 2024

Planning for retirement can be challenging and even a little scary. It’s an issue that raises some serious questions that need serious answers. Many of us put off retirement planning because it seems too far away or we’re having difficulty making ends meet with our current earnings.

How much should you save? What are the best methods for growing your nest egg? Where should you invest? David Bach, financial expert and author of 10 New York Times bestsellers, has some advice that might help make answering these questions easier.

Keep reading for a look at seven of Bach’s best tips for retirement, including how much you should try to save, what to do with those savings and how to make the most of your retirement fund.

Tip No. 1: Set Aside an Hour of Earnings Each Day

Bach’s first piece of advice is his trademark go-to phrase: Pay yourself first.

DINARRECAPS8 5/1/24 DINARRECAPS8 5/1/24

6 Money Moves the Rich Make To Stay Rich

Jennifer Taylor Sun, Apr 28, 2024,

If you’re trying to make more money, studying the rich is a great place to start. Some wealthy people were born into money, while others worked their way to the top. However they got there, many have figured out how to stay rich.

Learning how to make millions is one thing, but mastering the art of keeping that fortune intact is a different task. Many people get rich only to blow through their earnings in a matter of years.

Whether you have come into money or are still figuring out how to get there, keep reading to learn more about how the rich stay rich.

They Avoid Get-Rich-Quick Schemes

One common misconception is that the wealthy constantly look to get richer more quickly through engaging in activities such as picking stocks, said Laurie Samay, director of financial planning at Apexium Financial LP. “In reality, the wealthy are typically more interested in preserving their wealth.”

DINARRECAPS8 4/30/24 DINARRECAPS8 4/30/24

Settling the Gold Versus Crypto Debate

Notes From The Field by James Hickman April 24, 2024

In 1972, while excavating to build a factory on the Black Sea coast of Bulgaria, a backhoe operator noticed gold objects glimmering in the bucket of his machine.

The construction worker had accidentally discovered the Varna Necropolis.

Dating back to around 4500 BC, the jewelry found in this ancient burial site is the earliest evidence of the use of gold by humans, and archeologists believe that they were considered a status symbol in ancient burial rituals.

Thousands of years ago, gold was likely collected from the earth’s surface in the form of nuggets or river dust.

It wasn’t until about 3500 BC, on a hilltop located in the modern-day country of Georgia, that a group of people from the prehistoric Kura-Araxes dug the oldest known gold mine.

Known as Sakdrisi-Kachagiani, the gold mine predates Ancient Egypt and even Mesopotamia.

DINARRECAPS8 4/30/24 DINARRECAPS8 4/30/24

The Fed’s Game Of “Make Believe” Comes To An End

Notes From The Field by James Hickman (Simon Black) April 29, 2024

It’s barely been a year since the 2023 bank crisis in which several large banks, including Silicon Valley Bank and Signature Bank, failed.

At the time, I wrote that the bank failures weren’t over, and that there would be more.

But it’s been quiet for most of the last year; the banking system has been pretty calm thanks in large part to an emergency program that the Federal Reserve created to bail out other troubled banks.

They called it the Bank Term Funding Program (BTFP), and it essentially expired a few weeks ago. In other words, no more emergency lending to troubled banks.

Barely a month later, we have already witnessed our first casualty: Pennsylvania-based Republic First (not to be confused with First Republic, which failed last year) was shut down by regulators on Friday afternoon.

DINARRECAPS8 4/29/24 DINARRECAPS8 4/29/24

Warren Buffett’s Top 20 Tips That Will Save You From Financial Disaster

Kellan Jansen Sun, Apr 28, 2024,

Warren Buffett is one of the most widely trusted investors of the modern era. When he offers financial advice, it’s worth listening to — especially if it can help you avoid financial disaster.

Put yourself on the right track for financial success by studying Buffett’s best everyday money tips.

Start an Emergency Fund

Buffett says you should start an emergency fund before investing. Try to fund it with three to six months’ worth of expenses. That way, if you suddenly lose your job or have to allocate your paycheck elsewhere, you won’t have to sell your assets to get back on track.

You can’t time financial emergencies — if they occur when the market is down, you could be forced to sell for a loss unless you have enough in savings to cover the cost.

Avoid Debt

Buffett is strongly against debt. In a 2004 Berkshire Hathaway meeting, he said, “It’s very tempting to spend more than you earn. It’s very understandable. But it’s not a good idea.” This puts him in line with other personal financial experts, like Dave Ramsey, on the subject.

When you’re in debt, unexpected expenses can be devastating. They can force you to miss installment payments, which may hurt your credit score and delay you from reaching your financial goals.

DINARRECAPS8 4/27/24 DINARRECAPS8 4/27/24

7 Key Signs You Can Afford To Do What You Want When You Want

Cindy Lamothe Fri, Apr 26, 2024,

There is perhaps no greater dream than having the freedom to do what you want when you want. For instance, being able to take that weekend trip, splurge on a fancy new wardrobe, or pay the tab on a large meal without worrying about your bank account.

All of these scenarios come from being financially free.

“Financial independence is a major milestone and something most desire to reach,” said Dayten Rynsburger, chief revenue officer and co-founder of Niche Capital CO.

If you can relate to that — and wonder how you’ll know when you have made it — here are a several key signs according to experts.

You Can Put All Your Bills on Autopay

DINARRECAPS8 4/26/24 DINARRECAPS8 4/26/24

Here’s How I Learned (And Built Wealth)

I Knew Nothing About My Own Money — Here’s How I Learned (And Built Wealth)

Andrew Lisa Wed, April 24, 2024

Financial literacy is the foundation of financial success.

You don’t need a graduate degree in finance to avoid overdrafting your checking account or going into credit card debt, but avoidable mistakes, unhealthy borrowing and missed opportunities are all but certain if you don’t understand the basics of credit, interest, budgeting, banking, taxes, saving and investing.

The good news is that if your financial knowledge isn’t up to par, it’s not too late to learn your way into prosperity — and a new GOBankingRates study of more than 1,000 people is proof.

Can Financial Literacy Cure Money Mismanagement?

Nearly half of the study’s respondents — about 44% — said they never struggled with money due to a lack of financial literacy. On the other end of the spectrum, 36% say inadequate knowledge has held them back and that their finances are still in disarray because of it.

However, nearly one in five — about 19% — had previously struggled but have since recovered after gaining a better understanding of personal finance.

DINARRECAPS8 4/23/24 DINARRECAPS8 4/23/24

10 Poor Money Habits Hurting Relationships the Most

Apr 23

10 Poor Money Habits Hurting Relationships the Most

Cindy Lamothe Mon, April 22, 2024

Love and money don’t always go hand in hand. As one recent GOBankingRates survey revealed, poor money habits have a significant impact on people’s relationships.

The survey, which polled over 1,000 Americans, found that some of the biggest concerns around love and finances have to do with spending mindlessly and not planning for the future.

Harmful Money Habits

When asked what poor money habits were impacting their relationship, here’s what the survey respondents who were in a relationship said:

DINARRECAPS8 4/23/24 DINARRECAPS8 4/23/24

9 Reasons You Should Never Ask for $2 Bills From the Bank

I’m a Bank Teller: 9 Reasons You Should Never Ask for $2 Bills From the Bank

Laura Beck Sun, April 21, 2024

Two dollar bills — what grandfather doesn’t love giving them and what kid doesn’t love getting them? But they’re not all whimsy and fun times — in fact, bank teller Rachael P. said they can be more than a little annoying.

The longtime bank teller said nothing can slow down her day more than a customer asking for a $2 bill. “Seriously, you don’t want to be that person,” she said.

Here are the reasons you should never ask for a $2 bill from the bank.

They Most Likely Don’t Have Them

“Most people don’t even know $2 bills exist,” Rachael said. “So we don’t keep a lot of them in around. When someone does ask for them, we usually have to special order them, which is honestly a pain in the butt.”

DINARRECAPS8 4/22/24 DINARRECAPS8 4/22/24

The Do's And Don'ts After Receiving An Inheritance

Brad Smith·Host Tue, Apr 16, 2024,

As older Americans prepare to transfer their wealth or will it to their family, what should inheritors know before receiving this large sum of money?

Wealthstream Advisors Financial Advisor Katharine George explains the do's and don'ts when inheriting wealth, which includes money and even real estate property.

"I try to stay away from rules of thumbs but I would say in general, [avoid] making big decisions. I would say wait about six months or so, especially if you're grieving," George says. "These big changes... in that short period of time when you're grieving if it was someone close to you, we don't want to make any decisions that are rash. So buying another property or going on a big vacation.

These big changes, it could be that you need these assets invested and saved for your long term or it could be you could retire tomorrow. It really depends on the personal situation but not making any of these big decisions immediately after is really important, really let the dust settle."

DINARRECAPS8 4/19/24 DINARRECAPS8 4/19/24

6 Signs You Are Smarter About Money Than You Were 5 Years Ago

John Csiszar Wed, April 17, 2024

The coronavirus pandemic of 2020 changed many things about the world, including how people look at and manage their money. According to a new GOBankingRates study, 74% of people said they were smarter about money since the pandemic began, a perhaps unexpected benefit of the global calamity.

If the survey results are truly representative, they mean it’s likely that you are also smarter about money than you were five years ago. Here are some of the signs that you’re doing the right things with your money and are moving towards a more prosperous financial life.

You Have Built a Sizable Emergency Fund

Approximately 22% of Americans have no emergency funds at all and only 44% could pay a $1,000 expense with their savings, according to a 2024 Bankrate report. If you find that you have a sizable emergency fund, especially if you didn’t have one before the pandemic, it means you’re smarter about money now.