A Real Asset With A 12% Dividend Yield
A Real Asset With A 12% Dividend Yield
Notes From the Field By James Hickman / Simon Black October 17, 2024
It’s very hard to overstate just how obliterated the global economy was following World War II. Europe was in ruins, with many major cities having been bombed back into the Stone Age. Japan had literally been nuked.
And just about every economy around the world that still had any manufacturing capacity was pumping out guns, bullets, and bombs; there was hardly any economic activity taking place that wasn’t somehow tied to the war.
It was sort of like Covid— the regular economy was shut down... and governments discovered very quickly that they couldn’t simply turn the global economic machine back on with the flip of a switch.
Do I Need to Worry About Gift Taxes?
Do I Need to Worry About Gift Taxes?
Eric Reed Tue, October 15, 2024 SmartAsset
I Want to Give $50k to My Daughter for a Down Payment on a Home - Do I Need to Worry About Gift Taxes?
Imagine you have $50,000 to give to your daughter and her husband for a down payment on their new home. The question is, will you owe gift taxes because of your generous gesture?
Despite popular framing, the federal gift and estate taxes only apply to very wealthy households. Unless you have approximately $13 million to give away over your lifetime, these taxes likely won’t apply to you.
Financial Role Models of Millionaires: Who Do They Look Up To?
Financial Role Models of Millionaires: Who Do They Look Up To?
Cindy Lamothe Sun, October 13, 2024 GOBankingRates
Many people seeking to grow their wealth may look up to millionaires as a source of inspiration, But who do these wealthy individuals admire?
According to Stephen Greet, CEO & co-founder of BeamJobs, self-made millionaires often seek advice from bold thinkers outside of traditional finance. “While this advice can be valuable for people with lower net worth, it’s crucial to adapt it carefully to fit your financial situation,” he said.
Below are some of the types of financial role models that inspire millionaires.
6 Frugal Habits of the Super Rich and Famous
6 Frugal Habits of the Super Rich and Famous
Caitlyn Moorhead Mon, October 14, 2024 GOBankingRates
In order for you to live frugally, you might want to take a page out of the super-rich. Though it may seem counterintuitive, wealthy people often practice a frugal lifestyle as they only spend their money when they see that money’s worth. In other words, they don’t just throw their money around, but rather make it work for them by forming healthy habits.
No matter if they are just making a good living or they have the net worth of Warren Buffett, the super-rich are also often frugal people. It’s not necessarily about clipping coupons or not using your credit cards, but it is about reshaping your spending habits in order to meet your long-term financial goals. Here are six ways millionaires practice a frugal lifestyle.
3 Things the Wealthy Worry About Most
3 Things the Wealthy Worry About Most
Christy Bieber Updated Mon, October 14, 2024 Moneywise
2 out 3 millionaires in the US don’t consider themselves rich — here are the 3 things the wealthy worry about most
Most people in America don't believe they're rich. In fact, only 12% of the population thinks they're wealthy, according to recent research from Edelman Financial Engines.
Surprisingly, it's not just low- and middle-income households who don't feel flush with cash. A separate Northwestern Mutual study revealed only 33% of millionaires count themselves among the rich.
Here Are 7 Things You Should Leave Out Of Your Will In The US
Here Are 7 Things You Should Leave Out Of Your Will In The US if you really care about your loved ones
Maurie Backman Sun, October 13, 2024 Moneywise
Estate planning is one of the most important things you might do in your lifetime. But it can also be a bit complicated and, let's face it, uncomfortable. That perhaps explains why only 32% of Americans have a will, according to a survey from Caring.com, while 1-in-4 of those without a will don’t plan on getting one.
1. Specific Dollar Amounts
It's natural to want to leave your loved ones as much money as possible. But rather than commit to specific dollar amounts, you may want to work with percentages instead.
3 Ways To Overcome Fear of Spending in Retirement
3 Ways To Overcome Fear of Spending in Retirement, According to a Financial Expert
T. Woods Sat, October 12, 2024 GOBankingRates
James Canole is the founder of the financial advice website Root Financial Partners, and is a CFP professional/financial advisor whose podcast, “Ready for Retirement,” helps guide people toward a comfortable and prosperous nest egg for their retirement years.
On a recent episode of his podcast series, Canole spoke to a retiree facing a fundamental challenge: how to comfortably spend money in your retirement.
How to Buy Gold for $900 per Ounce
How to Buy Gold for $900 per Ounce
Notes From the Field By James Hickman / Simon Black October 11, 2024
Today’s letter is about how to go back in time.
A lot of us remember 2009 as a pretty tough economy. The whole world was in bad shape. Major banks had failed, panic had set in, governments were spending money hand over fist, and debts were rising fast. It was pretty brutal.
But if there’s anything nostalgic about 2009, it would be that, almost exactly 15 years ago, gold traded below $1,000 an ounce for the last time. Today, the price of gold is hovering at its all-time high, more than $2,600 per ounce.
We’ve talked a lot about why that is. Central banks have been buying up physical gold, literally by the metric ton, primarily because they are looking to diversify a portion of their reserves outside of the US dollar.
18 Rules To Creating Long-Term Wealth
Billionaire Michael Lee-Chin’s 18 Rules To Creating Long-Term Wealth
Special to Financial Post | Daina Lawrence Thu, October 10, 2024
Billionaire Michael Lee-Chin has 18 principles he has stuck to in order to build his wealth, he says.
The Jamaican-Canadian chairman and chief executive officer of Burlington, Ont.-based private investment firm Portland Holdings Inc., says it is possible for other investors to follow these principles and build wealth, especially younger ones who have time and compounding on their side.
With Warren Buffet as his role model since the 1970s, Lee-Chin has used his prescriptive framework to predict, and invest in, future trends, such as wealth management for a growing baby boomer cohort.
America Is Now On “The Second Half Of The Chess Board”
America Is Now On “The Second Half Of The Chess Board”
Notes From the Field By James Hickman / Simon Black October 10, 2024
Over fifteen centuries ago, according to an ancient Sanskrit legend, a mythical Hindu priest named Sissa was ordered to invent a new board game to entertain the king of Taligana.
Sissa labored over the task for quite some time, but he eventually brought the King a military strategy game with a 64-square board and beautifully hand-carved pieces. Today we call this game chess. And according to the legend, the King was absolutely enamored with it.
So enamored, in fact, the King offered Sissa any reward he desired. So, the priest asked for a single grain of wheat to be placed on the first square of the chess board. Then two grains on the second square. Four grains on the third. Eight grains on the fourth. And so on.
5 Essential Books and Resources for Financial Planning Enthusiasts
5 Essential Books and Resources for Financial Planning Enthusiasts
Laura Bogart Wed, October 9, 2024 GOBankingRates
You might think that you need an expensive education, or at least hours of formal training, to become knowledgeable about financial planning. And who has time for all of that, especially if you’re locked in to your current job, your family life and your other responsibilities?
However, you don’t have to spend hundreds of dollars on financial planning certifications, or even head back to school to learn more. After all, you’re reading this GOBankingRates article, hoping to learn more about personal finance issues that are relevant to you and your loved ones and explore the worlds of smart saving and growing your wealth.
There are myriad resources out there that can help you boost your own financial literacy at very little personal cost, from books you can check out from your local library to podcasts that will inspire you on your next long walk.