Is it necessary to buy either life or term insurance policies? | Mint – Mint

Posted on August 5, 2022 by Dook Domini

I am a 35-year-old working mother with two daughters.I havent bought any life insurance policy but I do have other investments. Is it necessary to buy life insurance or term insurance at this stage since I dont have any liability?

Name withheld on request

Life insurance is strongly recommended for working professionals in their mid-30s with dependents. Think about life insurance as a way to replace your income in your absence, so that your childrens education and well-being is taken care of.

While you may not have any outstanding financial liabilities as of today, you would have future obligations in terms of higher education of your children, health-care, and other family commitments. You should evaluate if your other investments are sufficient to take care of all these future obligations.

Another aspect to consider while evaluating the need for term insurance, is the liquidity of other investments. Sometimes individuals have a substantial portion of their wealth invested in real estate or equity in private companies. These assets take longer to liquidate. In the absence of an active income, dependents may face cash flow issues.

Term insurance provides an immediate liquidity support. If an individual has substantial assets but not liquid, they could buy term insurance coverage sufficient to cover expenses for the time taken to dispose the assets.

I am a 55-year-old individual and will be retiring soon. I am looking to buy a term policy for 15 years. Is such a policy available? Should I buy a term policy at this stage?

Name withheld on request

Term insurance is a way to provide financial independence to your dependents in your absence. You should buy term insurance to cover your active income-generating age i.e., until retirement.

The retirement age can be considered when you stop working completely, including part-time for money. After retirement, you would not have an active income, so there is no income to replace it. In fact, without an active income, you would be burdened with paying annual premiums from your retirement corpus.

It is common for people in their 50s, who have dependents, to buy term insurance. So, several insurers offer term insurance at the age of 55. You would have a number of options to choose from.

Abhishek Bondia is principal officer and managing director, SecureNow.in.

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Is it necessary to buy either life or term insurance policies? | Mint - Mint

The Most Affordable Region In The US Where The American Dream Is Still Alive – House Digest

Posted on August 5, 2022 by Dook Domini

Despite the reputation the Midwest gets for being "lifeless and flat," this region of the country is the most economically efficient, says Clever. In the West, the job-to-income ratio is a shocking 4.2, whereas the Midwest offers a 2.9 ratio. As housing prices increased, so did the median household income, meaning Midwesterners have a greater shot at attaining the American Dream (or, as some people are calling it, "financial independence"). So, what makes the Midwest such an affordable place to live? When it comes down to it, the reason living in the Midwest is so cheap is because of supply and demand, ToughNickel says.

Big cities are saturated with people but don't have enough housing available to accommodate all of them. This drives the housing prices (and the cost of living) up, which is why you'll notice a drastic comparison between costs of goods in San Francisco versus Cleveland, for example. The demand for property, fuel, and food is much less in the Midwest, so there's no need to create a competitive market by increasing costs. Combine all of that together, and you get a region in the U.S. that grants its citizens more financial freedom, who are free to live out the American Dream.

The rest is here:

The Most Affordable Region In The US Where The American Dream Is Still Alive - House Digest

Weekly Wrap: Inflation, Bias, and What the Experts Say About a Recession – Morningstar

Posted on August 5, 2022 by Dook Domini

Why A Recession In 2022 Will Be Unlike Any Other – FedSmith.com

Posted on August 5, 2022 by Dook Domini

When thinking about a recession, the first thing that comes to mind for many is the thought of Americans losing their jobs. During a recession, GDP (measure of economic output) goes down and unemployment increases.

The model for a recession has been similar ever since the second world war. Typically, when production begins to slow down because of any reason among various, companies may start to reduce their workforce to compensate.

As businesses reduce their workforce, Americans begin to spend less, either for lack of income or in fear of losing their jobs. While the loss of employment is rarely a risk for federal employees, the overall economic health impacts everyone.

When people spend less, businesses make less money, and when they make less money, they begin to lay off more workers. The cycle repeats itself.

A recession can be caused by various factors, including being manufactured by the Federal Reserve through tightening of monetary policy in order to cool off the economy. Economies that run too hot for too long bring uncontrolled inflation. As difficult as a recession can be on people, long-term and unchecked inflation is much, much worse.

Historically, recessions have given an overheating economy the time it needed to regulate back to healthy levels again. Now lets look at 2022.

Domestic production has retracted, and economists have been on recession watch for quite some time. Jerome Powell, the Fed chairman, has also commented about the potential need for a recession. But the unemployment rate is actually falling. More people are getting jobs, not losing them, according to the US Bureau of Labor Statistics.

Domestic production and unemployment have always been correlated because of the cyclical nature of how a free market economy worksit runs on supply and demand. But with more people being employed, what impact does this have on the potential for a recession?

Recessions can start with any of the three parts of the cycle in that graph. The consumer sentiment index measures how people are feeling about the economy, which tells us how people feel about spending money. Prior to recessions, weve historically had lower sentiment, which accelerated the progression of a recession.

In 2022, people are feeling extremely pessimistic. The cost of goods and services has rocketed, inflation is the highest it has been in 40 years, and the consumer sentiment index is measuring similar to what it did in 2008. If people are feeling negatively about where the economy is headed, then theyre less likely to spend money, which reduces corporate profits, and can worsen the cycle.

But 2022 is unlike any year weve seen before. Corporate profits are at the highest levels weve seen since the 1950s.

Heres another graph with data from the US Bureau of Economic Analysis. The vertical gray bars represent periods of a retracting economy.

Not only are profit margins high, the amount of cash that corporations currently have available to them is the highest its ever been, as shown in the graph below with data also from the US Bureau of Economic Analysis. This is a significant hedge against a contracting economy with reduced profits. Many companies are well positioned for a period of slowing business.

This could mean that businesses feel good about their positions and decide not to cut back their workforce so heavily. This could mean that we could have a much milder recession if we do have one.

There is incentive for companies to retain employees. Even the federal government has not been insulated from the masses of people retiring from the labor force. Corporations across America are having trouble filling the positions they need.

With a generational change of the workforce, as well as expectations of wages and work environments, younger workers have become more selective in their job picks and perpetuated the problem. This helps us understand one reason why corporations may be wanting to hold so much cash. They simply need to retain their people. Could we see higher wage growth as a result?

While overall consumer sentiment is weak, demand continues to be strong, and companies keep scrambling to fill the demand of consumers. This, combined with the high cash and low unemployment has economists scratching their heads in trying to figure out why inflation continues to run so hot.

One simple reason is that the Fed was quite literally 1.5 years late to the party. They were significantly slower to begin reducing economic stimulus than they should have been and kept money cheap for businesses to keep their lights on during the global pandemic.

All of these factors have created a perfect storm, which leads many economists to believe that a recession in 2022 will be unlike any weve seen before. Its not sustainable for an economy to have reducing production levels while companies are still employing and offering tons of jobs. Its an imbalance in economic sciences which can only lead to one of two things.

The first is that the corporations could use the cash on hand to hedge against the reducing production while allowing them to hire workers to increase production again. The economy corrects itself, and were back to normal. The other is that a recession is necessary in order to curb the demand in the market, forcing inflation to drop.

As a financial planning firm, we analyze the activity in the overall markets, and weve seen money managers and large financial institutions begin placing their trades to hedge. The economy and the markets are correlated but they dont always react with proximity to one another. Markets trade ahead of economic news, which is why reacting to news is almost always too late.

Despite whether weve reached the bottom of the market or if theres more to fall, whether were in a recession or if it comes later or not at all, the single most important question federal employees should ask themselves is: will whatever happens impact my financial independence?

Money is a tool to help us accomplish our objectives, take care of our families, and enjoy a life of fulfillment. Having a plan to help you accomplish these things will give you the greatest chance of achieving them. The markets wont always cooperate, neither will the economy, and sometimes your life wont either. But having a good plan in place allows you to know what you need to do to help maintain your financial safety each time the variables work against your plans.

We view a familys greatest financial success as their ability to continue living their lives the way they want to live without being ruled by variables outside their controla life with financial dignity and independence.

That is true financial freedom, and it can be possible with good planning. So dont wait any longer to prioritize your economic well-being, because its not just your money, its your future.

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Why A Recession In 2022 Will Be Unlike Any Other - FedSmith.com

Six Key Drivers to Consider on the Path to Independence – Wealth Management

Posted on August 5, 2022 by Dook Domini

Many advisors dream of going independent for the freedom and flexibility to control their business, client service model, and bottom line. And the path to independence used to be simple: For most breakaway advisors, it was a straight line from an employer to an independent broker/dealer.

But today, an expanded independent ecosystem offers more choice on which path an advisor can take. That is, there are service providers that offer state-of-the-art platforms and support, an ever-growing number of consultants to serve as guides at start-up and longer-term, and a growing pool of capital resources available to advisors seeking working capital, liquidity, or to offset unvested deferred comp that may be left behind.

Although more choice is beneficial, it adds a layer of complexity when determining the right independent solution, so much so that even our own guidance to advisors has changed over the last few years.

With so many options to choose from, how does an advisor narrow down which path to independence to take?

Its a decision-making process that often starts with six key driversand their importance to an advisors goals.

While the decision to go independent is about the long-term monetization of the business, there are still important short-term financial considerations to assess. These include how much deferred compensation you may leave behind, your willingness and/or ability to fund the start-up costs, and the desire to de-risk the move by being paid an upfront deal. The good news is that there are an increasing number of capital sources available to breakaway advisors to help them launch and scale the business.

Independent b/ds pay up-front cash transition deals, some of which can be substantial, allowing breakaway advisors to see some short-term monetization of the business. In the RIA hybrid space, there are platform providers that offer several forms of financing, including upfront transition capital, minority investments and working capital loans. The key for a breakaway team is to assess the importance of the short-term versus long-term economic considerations since options that provide more upfront capital typically offer a lower ongoing net payout.

The notion of taking on the tasks of managing compliance, technology, HR, and finance is often what stops advisors from going independent. Plus, as larger teams make the move to independence, they need to be certain that they can support complex businesses and sophisticated clients without missing a beat. The advent of RIA platforms solves for these concerns, providing breakaways with integrated technology, sophisticated investment and planning solutions, and access to trust and banking capabilities. These platforms dont just provide support at launch; they also offer ongoing operational, compliance, marketing, and practice management support to optimize the business for growth.

For advisors who choose an IBD and want greater support, aligning with a large enterprise or office of supervisory jurisdiction (OSJ) can provide many of the same benefits offered by the RIA platforms, including support for compliance, technology, middle- and back-office operations, marketing and more.

Some advisors rule out independence because they feel that there is a lack of community, that essentially, theyd be setting up shop alone. Others worry about the optics of a solo practice, the continuity of impeccable client service, and how they will replace their firms thought leadership on investments. The reality is that being independent doesnt mean being alone.

Advisors who prioritize community can benefit from affiliating with an RIA platform provider or OSJ, as community is a core pillar of these models, with opportunities for engagement via conferences and ongoing initiatives available. Additionally, industry events and custodial or broker/dealer conferences give advisors time to interact regularly. And, of course, there is always the option to build your own community via targeted recruiting and acquisitions.

For those seeking even more of a community feel, alternatives include tucking into an established independent firm with a fully built-out team and infrastructure or joining a quasi-independent model that offers more freedom and control in a supported traditional branch office setting.

An advisors vision for the business also plays a crucial role in determining the right path to independence. Surely the desire to go independent is predicated upon achieving greater freedom and flexibilitybut just how much of each is a question advisors need to consider.

If maximum customization is a priority and the vision is to offer a bespoke client experience including personalized reporting, a curated technology stack, private deals, boutique alternatives, concierge services, and tax planning and preparation the RIA path is the right direction since it provides the greatest level of control.

Yet others prefer turnkey access to a comprehensive platform that provides all resources under one roof. Several high-quality IBD solutions serve this very purpose

The goal of achieving freedom and control is also dependent upon an advisors vision for their business. An RIA has complete control, including the ability to shop the Street for the best prices and products, the freedom to use marketing and social media unencumbered, and to engage in outside business activities. Its the path for those who want to be a true fiduciarycompletely unrestricted and unconflicted.

Conversely, in the IBD space, an advisor must adhere to the broker/dealers compliance regulations, marketing guidelines, and investment menu. Yet its an attractive option for advisors who prefer a comprehensive one-stop-shop solution, with operational, practice management and recruiting support, and ultimately the protection that comes from the IBDs compliance guardrails.

If an advisor is highly growth-oriented and the goal is to build a substantial enterprise that will sell for top dollar when the advisor retires, then choosing a path that maximizes inorganic growth potential and enterprise value is vital.

For such enterprise builders, the RIA space is often a natural fit since the ability to be multi-custodial increases the pool of acquisition targets. Plus, when RIAs are sold, they typically attract the highest multiples since acquirers place a premium on the advisory business as well as the lack of broker dealer/FINRA-related restrictions.

For other advisors, the aspiration isnt to create a large enterprise but to run a smaller, high-quality business that prioritizes clients and provides a fulfilling lifestyle for the advisor. These advisors may prefer the support an IBD will provide in helping them identify a successor and structure and finance a competitive retirement buyout.I

The independent landscape has evolved dramatically, offering advisors greater choice than ever before. Yet optionality can make the decision-making journey more complex. Taking the time to assess these six key drivers will be time well spentproviding a roadmap for identifying the right independent path and eliminating the potential pitfalls along the way.

Wendy Leungis a senior consultant at Diamond Consultants.

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Six Key Drivers to Consider on the Path to Independence - Wealth Management

GOP’s post-Roe reveal: Republicans don’t think raising children is real work – Salon

Posted on August 5, 2022 by Dook Domini

There's nothing Republicans love to do more than wax poetic about parenthood. Dip a toe into red state America and you'll be bombarded with cloying bumper stickers and Facebook memes about how motherhood is the "toughest job in the world." These sentiments aren't sincere, however. They are mostly meant to reassure women who have been sidelined from paid employment that they don't need that silly financial independence anyway. And in the last two years, things have grown worse as Republicans in an attempt to justify book banning and "don't say gay" laws have tried to rebrand themselves as a "Parents Party" that supposedly stands up for exhausted folks just trying to care for families.

Caring for and educating kidsis hard work. But this sentimental claptrap from Republicans has always been empty noise. Now that Republicans have achieved their goal of banning abortion and making motherhood mandatory, the mask is slipping away. They are now letting loose with their true belief: Child-rearing is dumb and easy, not even really work at all.

The Republican attitude towards child-rearing can be summed up as this: "If women do it, how hard can it be?"

Republicans have absolutely no respect for the people who actually do the hard work of bringing up kids, both in and out of the home. Despite the employment of gender-neutral terms like "parenting," the truth of the matter is child care and teaching are still largely relegated to the realm of "women's work." And there's no number of saccharine slogans that will change the baseline conservatives' assumption that women's work doesn't count as real work.

Thirteen is an "absolutely phenomenal" age to become a mother, according toJana Pinson, an anti-choice activist who has been granted millions of dollars to run a "crisis pregnancy center" meant to strongarm reluctant women into giving birth. Pinsongushed in a piece published Sunday in the Washington Post about how barely post-pubescentkids should embrace motherhood. "I've seen a lot of 13-year-olds do phenomenal" as mothers, Pinson insisted.

"It doesn't have to be a negative thing," she added, describing forced childbirth on middle school kids.

Her comments soon went viral on social media, obviously due to the widespread horror at the deep immorality of anti-choicers. There is nothing, of course, "pro-life" about this sadistic desire to re-traumatize child rape victims by stripping away their childhoods or forcing young children into motherhood. But Pinson's comment is also telling in another way. It serves as a reminder that conservatives don't treat child-rearing as a serious responsibility.

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Thirteen-year-olds aren't allowed to vote, drive, drink, or, in most cases, even attend high school. Hell, Republicans don't believe kids that young are mature enough even to receive sex education or told the truth about racism in American history. More importantly, outside of some odd jobs and very limited part-time employment, 13-year-olds aren't allowed to work for pay. They aren't allowed to live independently of adult supervision. Partially, this is because we're trying to protect kids from having to grow up too fast. But it's also because our society recognizes that kids this young don't possess the intellectual or emotional maturity to handle adult responsibilities. We don't want 13-year-olds driving cars not just for their own safety, but for everyone's safety.

That's why Republicans so often talk about forcing motherhood on women like it's no bigger deal than asking them to pay a traffic ticket.

Yet Pinson believes that these children are fully capable of raising other children. She isn't just some random weirdo, either, but a person with the full faith and credit of the entire GOP establishment. As the Post explains, due to huge infusions of cash from both GOP donors and the Republican-run Texas government, Pinson is building a "$10 million crisis pregnancy center," complete with a thrift store and cafe, all to "attract female undergraduates" in hopes of pressuring them into premature motherhood.

Pinson's attitude belies the larger and truer belief about motherhood that lurks under the GOP's sentimental exterior: It's just child's play, not real work. That's why Republicans so often talk about forcing motherhood on women like it's no bigger deal than asking them to pay a traffic ticket. They can't imagine that being a mother is actually hard work, as their bumper stickers always say.

That patronizing attitude isn't just limited to the work of rearing children, either, but also applies to educating them.

Despite all of the political dramatics around education being staged by Republicans, underneath it all they truly don't think of being a schoolteacher as a real job requiring real skills and training.That's always been evident from the GOP attitude towards teachers' unions, but it's only gotten more pronounced in recent months. The hysterics about fictional "critical race theory" lessons in public schools, as well as their book banning push, provide Republicans even more cover to push their belief that being a schoolteacher is just glorified babysitting. (Although even babysitting is harder work than conservatives will admit.)

Red states are now starting to get rid of the basic requirement that public school teachers have a college education. Under the guise of shoring up the teacher shortage, both Arizona and Florida have dropped the requirement that public school teachers need to graduate college before getting a license to teach. In Florida, having military experience is considered sufficient. Now Iowa's Republican-controlled legislature is moving forward with a similar billthat would allow high school students to run daycare classrooms. The bill would also increase the limit on the number of kids allowed in a class, serving as yet another reminder that conservatives don't think caring for children is real work. They can't imagine that overstuffed classrooms are legitimately overwhelming.

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The Republican contempt for childcare and education has never been far from the surface. We see this in the relentless red state "work requirements" put on mothers to receive financial assistance. The push is based on the assumption that the children of lower-income women can simply be put away on a shelf while their mother is at work. Or in the words of Sen. Ron Johnson of Wisconsin, who recently dismissed families' need for childcare at all: "I've never really felt it was society's responsibility to take care of other people's children."

No doubt, like many rich male Republicans, Johnson is able to largely ignore how grueling the daily work of child-rearing and education is. Likely, someone else did it for him, and mostly where he didn't even have to see it. For rich male Republicans, children just show up when summoned, fed, groomed and taught to read as if by magic. The actual grunt work of turning children into functional adults has been concealed from such men by social structures that not only foist this work on women but guilt women into not bothering men with the details.It's just more misogyny.

Red states are now starting to get rid of the basic requirement that public school teachers have a college education.

The Republican attitude towards child-rearing can be summed up as this: "If women do it, how hard can it be?"

In reality, of course, bringing up children is hard work. It can't be done by one adult by herself, much less by those who are still children themselves. Every child needs a staggering amount of attention and care in order to grow into a functional adult. Little kids aren't houseplants or even cats, who can be left alone for hours without supervision. It does, no matter how much Republicans may scoff, take a village to raise a child.

No matter how much Republicans try to brand themselves as the "Parents Party," this derision for the actual work of caring for and educating children tells the true story. Republicans have absolutely no respect for this crucial form of labor at all.

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GOP's post-Roe reveal: Republicans don't think raising children is real work - Salon

UBL records phenomenal H1 PBT of Rs34.2b, with 32pc growth – Daily Times

Posted on August 5, 2022 by Dook Domini

UBL declared Profit Before Tax (PBT) of Rs34.2b for the half year ended June 30, 2022, an impressive growth of 32pc over last year. The Bank recorded a one-off taxation adjustment related to prior year profits as well as higher taxation due to change in the tax regime amounting to Rs9.0b during the period. This impacted the earnings per share (EPS) for the period, which was measured at Rs9.69 (H121: Rs12.25). Excluding the taxation impacts, UBLs EPS stood at Rs16.9, while the RoE is measured at 23.9pc for H122 (H121: 19.5pc). UBLs capital base remains strong as the Capital Adequacy Ratio (CAR) was measured at 18.8pc as at Jun22, an excess of 6.3pc over regulatory minimum requirements. The Bank declared dividends of Rs4.0 per share for the second quarter of 2022, which takes the overall dividend distribution to Rs9.0 per share for the half year ended June 30, 2022.

UBL records strong growth of 29pc in top line revenues

The Bank earned gross revenues of Rs59.8b for H122, an increase of 29pc over last year. Markup income witnessed a significant increase of 29pc, driven by active build-up within the Banks low-cost funding base, deployed within an asset portfolio which repriced well in line with the market interest rates. Non-markup income of Rs14.7b was earned in H122, well ahead of last year, owing to significant increase in foreign exchange income as well as strong revenue growth across all major fee-based services. The cost to income ratio further improved to 40pc from 43pc last year. Provisioning expense remained controlled with strong recoveries against non-performing accounts across both domestic and international businesses.

Serving a customer base of over 11m with one of the largest branch networks in Pakistan

UBL is one of the premier financial institutions of this country. The Bank operates one of the largest branch networks with 1,338 branches, including 150 Islamic branches, 1,441 ATMs nationwide and 193 Islamic Banking Windows. The physical network is well supported by the Banks award winning and industry leading Digital Banking services, along-with UBL Omni, the Banks branchless banking proposition, serves even in the remotest locations, providing access to banking services to the vast unbanked population.

The Banks Branch Banking Group remains the cornerstone of the UBL franchise. Domestic deposits averaged Rs1.5 trillion for H122, an increase of 7pc. The Bank on-boarded 302,000 current account relationships in H122 which resulted in a strong growth of 12pc in average current deposits. This build-up helped in improving the average CASA ratio from 85pc to 87pc and contain the cost of deposits at 5.1pc for H122 (H121: 3.4pc), despite the significant increase in interest rates during the period.

UBL continues to bring new financial solutions to its ever expanding and diverse customer base. During the year, the Bank introduced the UBL Urooj Account specifically for our female customers which provides comprehensive financial coverage with loans, insurance facilities and reduced fees to encourage women to invest for the future and gain financial independence. Furthermore, our Industry-First High Net-worth Product, Signature Priority Banking, was revitalized during the year, which aims to provide luxury services to this valuable and growing customer segment.

UBL also remains an active participant in all the major economic initiatives of the Government of Pakistan and the State Bank of Pakistan (SBP). We are one of the key partners in the SBPs Roshan Digital initiative, having opened over 83,000 accounts, with inflows of over USD 646m. The Bank continues to play a significant role in the Mera Pakistan Mera Ghar initiative, with volumes of over Rs5.0b.

Digital Banking Best in class serving almost

3m customers

The Banks digital services under the UBL Digital umbrella, has transformed the way customers interact with the Bank for their financial needs. Our strategy revolves around being agile to promptly respond to disruptions and integrating cross functional activities into one seamless banking experience. The end state envisioned is a wider payments ecosystem where all the Banks services are conveniently available to our customers at a single touchpoint.

UBL has been consistently setting a record of digital customer registrations every year. Our Digital Banking app., UBL Digital, continues to set the industry standard, offering better, faster and easier digital banking services with the aim of sustaining life-long relationships with our customers. Our digital customer base currently stands at 2.9m, including Asaan Mobile Accounts, with the number of financial transactions recording a 51pc growth.

The Bank expanded its Digital product suite with the recent introduction of the auto loans facility on the app. This feature allows customers to access cars and instalment plans via a simple and digitally interactive process. In just a few clicks, customers can scan a car using Augmented Reality (AR), take a 3D tour, calculate loan payments and compare different cars of their choice.

In recognition of our industry leading services, UBL was once again declared Pakistans Best Digital Bank by Asiamoney, an associate of Euromoney, for the third time in a row. The award is a testament to UBLs contribution in expanding the scope of financial services through digital channels. The Bank continues to invest in digital platforms and in developing its teams that are redefining the future of banking in Pakistan.

Non-markup Income records growth of 29pc strong momentum across all major avenues

The Banks Non-Fund Income (NFI) was reported at Rs14.7b for H122, contributing 25pc to total gross revenues. Fee revenues of Rs7.8b were earned in H122, with an increase of 17pc, as strong momentum was witnessed across all major businesses. The Bank remains the preferred choice for the Pakistani diaspora overseas, as we recorded a market share of over 21pc within the home remittances space with commission income of Rs918m earned. The Bank also maintained its strong market presence within bancassurance business as commission income was of Rs822m was earned and premium volumes of Rs1.8b were underwritten in H122.

UBL continues to expand within the growing Islamic business segment

The Islamic business segment has witnessed tremendous growth in the last few years. UBL sees the Islamic space as a great opportunity for aggressive expansion and the Bank with its Islamic Banking proposition, UBL Ameen, is actively scaling up its presence. UBL Ameens branch network now stands at 150 branches (Dec21: 145 branches) and is further supported by 193 Islamic Banking Windows (IBWs) within commercial branches. UBL Ameens deposit base closed at Rs208b at Jun21, growing by 49pc over Dec21, while Islamic advances averaged Rs63b for H122, a two-folds increase over last year.

International operations maintain stability amid

economic uncertainty

UBL International posted a PBT of USD 9.1m for H122 as the Banks GCC operations now reflect stability, following specific de-risking measures over the past few years. The Bank is now operating a leaner business model with emphasis in maintaining strong credit quality levels and building a foundation of low-cost funding. Asset writing remains selective, serving clients with good credit history as well as more FI and trade-based lending. Profitability this period was impacted by a provision charge on its Sri Lanka sovereign debt holdings.

Loan book records 17pc growth with improvement

in credit quality

UBL continues to grow in its intermediation role within the economy, as performing advances averaged Rs640b in H122, a strong growth of 19pc. The Bank is actively working at more technology driven solutions, aiming to provide a complete customised product suite for our clients. The Bank maintained its momentum in the corporate space as the average loan book recorded a growth of 14pc. The Bank continues to expand within the mid-market segment as the average portfolio of SME and Agri loans recorded a 17pc growth over last year. Deepening customer relationships is helping with enhancing yields through the provision of cross sell and ancillary businesses, which enabled the Bank to record a 31pc growth in income from trade and guarantee business and 10pc growth in earnings from cash management.

Commenting on the results, Mr. Shazad G. Dada, President & CEO of UBL said: UBL has continued to build on its growing business momentum in 2022 which has translated into our strong financial results. These results reflect the trust that our customers place in the quality of our services and the UBL brand. Our digital capabilities are recognized both locally and internationally and demonstrate our industry leading position in innovation and technology. As one of the largest financial institutions in the country and by leveraging our market leading digital capabilities, we are paving the way in broadening the scope of financial services across Pakistan. We are investing heavily in our physical and digital networks and in our people, with continuous efforts in making our service levels the best in the industry. We have also invested in and implemented global best practices in Compliance and Governance (including Financial Crime Compliance); and our framework, regtech solutions and processes are the best in class for the Banking industry in Pakistan. In addition, we are fully committed to setting exemplary ESG standards and practices in the countrys corporate landscape. UBL, I believe is very well positioned to scale even greater heights as we aim for a much larger market share and growth across all business segments in the near future.

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UBL records phenomenal H1 PBT of Rs34.2b, with 32pc growth - Daily Times

CEMEX B de C : invests in global venture fund oriented to sustainable construction – Marketscreener.com

Posted on August 5, 2022 by Dook Domini

CEMEX invests in global venture fund oriented to sustainable construction

August 4, 2022

CEMEX, S.A.B. de C.V. ("CEMEX") and CEMEX Ventures, CEMEX's corporate venture capital and open innovation unit, announced today that they are investing in a global early-stage venture fund, Zacua Ventures, that aims to tackle the construction industry's biggest challenges in sustainability, productivity, and urbanization.

Other investors in this venture include ANDRES Construction, GS Futures, Progreso X and SABANCI Building Materials Group.

"As pioneers in the construction industry's transformation, we are happy to be part of this investment vehicle to seek innovative solutions that help boost productivity, sustainability, and urbanization," said Gonzalo Galindo, Head of CEMEX Ventures. "The collaboration and synergy between the involved partners will help further accelerate our efforts."

Zacua Ventures will seek synergies between the innovation priorities of all its partners. Through these investments, Zacua will gain financial independence while benefiting from the experience of its partners. As the construction industry transforms, Zacua Ventures will be a strategic ally in the search and understanding of new technologies.

The team at Zacua Ventures offers a deep knowledge of the industry and startup ecosystem. It is led by experts that have been investing in construction technology for the past decade. Zacua Ventures has offices in San Francisco, Madrid, and Singapore.

About CEMEXCEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: cemex.com

About CEMEX VenturesLaunched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalize on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging startups, entrepreneurs, universities, and other relevant actors to tackle the industry's toughest challenges and shape tomorrow's value ecosystem. For more information about CEMEX Ventures, please visit http://www.cemexventures.com

About Zacua VenturesZacua Ventures is a global early-stage venture fund tackling world's biggest challenges across Sustainability, Productivity and Urbanization and backed by the most innovative corporates in the built world. Zacua is led by partners with more than 30 years of combined industry experience and who have been investing in construction tech for the past decade. With regional presence in San Francisco, Madrid, and Singapore, Zacua helps entrepreneurs to build and strengthen their value proposition and scale their businesses globally, leveraging deep corporate networks. For more information, please visit: http://www.zacuaventures.com

About ANDRES ConstructionIn 1991, ANDRES' founders came to the table with over 75 years of combined industry experience, and more importantly, a shared passion for construction and the continuous development of the city of Dallas. ANDRES has since expanded operations and created a presence in Austin, Houston, and Fort Worth. Over the last 30 years, ANDRES has successfully maintained valuable relationships with repeat clients, top tier architects, engineers, subcontractors, and suppliers. ANDRES' extensive portfolio contains a wide array of projects such as multi-unit housing, hospitality, high-rise residential and office, educational facilities, commercial/mixed-use developments, historic renovations, and houses of worship. In 2017, ANDRES transitioned from a family-owned business to a 100% employee-owned company. ANDRES relies on our employee owners to provide hands-on leadership at every project and maintain a culture ingrained with the mindset of "built-in quality" at each step of the process. http://www.andresconstruction.com

About GSGS E&C is a Korea-based general construction company with global operations. Since 1969, it has been engaged in EPC work for the oil & gas, petrochemical, power plant, and waste and water treatment industries, and has overseen various projects in the diversified infrastructure space. Additionally, GS E&C develops and builds high-rise properties in both commercial and residential segments. GS E&C currently has over 24 overseas subsidiaries & branches and operates across 190 sites worldwide. http://www.gsfutures.vc

About Progreso XAs Cementos Progreso's corporate accelerator, Progreso X is committed to create, design, and bring to reality disruptive ideas for the benefit of the world through the collaborative innovation between Cementos Progreso, startups, and its ecosystem. Progreso X focuses on creating human-centered solutions while having sustainability on top of mind as well as understanding culture as the basis for design and adapting to change through continuous learning. Launched in 2019, Progreso X aims to open the door for startups from all around the world to co-develop solutions to improve construction processes in Latin America. To learn more about Progreso X, please visit: http://www.progreso-x.com

About Cementos ProgresoCementos Progreso is a leading multi-latin corporation that specializes in cement, materials, and other solutions for the construction industry across seven countries in Latin America. Each of its companies operate under strict legal compliance and shared ethical values, instituted by founder, Carlos F. Novella, since it was established in 1899 in Guatemala. Cementos Progreso is the flagship company. With more than a century of experience, Cementos Progreso is constantly introducing innovative solutions to the countries in which it operates, while staying true to their corporate purpose of "Building together the country where we want to live". To learn more about Cementos Progreso, visit: progreso.com

About SABANCI Building Materials GroupSabanc Building Materials Group has the largest grey cement and ready-mix portfolio in Turkey and is a global leading player in white cement. Each of its companies publicly listed in Istanbul Stock Exchange and serves its customers in more than 70 countries. Along with Its motto "from grey to green", Group is constantly offering sustainable solutions to the markets in line with Sabanc Holding's 2050 Net Zero target. To learn more about Sabanc Building Materials Group, please visit: http://www.sabanci.com/en

About SABANCITurkey's leading conglomerate is a holding company engaged in a wide variety of business activities through its subsidiaries and affiliates, mainly in the banking, financial services, energy, industrials, building materials and retail sectors. Sabanc Group companies were supplying their products to regions throughout Europe, the Middle East, Asia, North Africa and North and South America. Sabanc Holding is registered with the Capital Markets Board and its shares have been listed on the Borsa Istanbul since 1997. In dynamic capital allocation, the Group focuses on growth and strengthening market leading positions in core businesses and investing in new platforms, while maintaining a healthy balance sheet structure and maximizing shareholder returns. For more information, please visit: https://www.sabanci.com/en

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX's current expectations and projections about future events based on CEMEX's knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX's current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX's expectations, including the announced investment to not produce the expected results. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.

Media Relations

Jorge Prez

+52 (81) 8259-6666

jorgeluis.perez@cemex.com

Analyst and Investor Relations

Alfredo Garza / Fabin Orta

+1 (212) 317-6011 / +52 (81) 8888-4327

ir@cemex.com

Originally posted here:

CEMEX B de C : invests in global venture fund oriented to sustainable construction - Marketscreener.com

How I Teach My Kids About Money – The White Coat Investor

Posted on July 27, 2022 by Dook Domini

[Editor's Note: DLP Capital Partners has been a preferred partner of The White Coat Investor for a long time, and the reason why is simple: The real estate investment group provides high-yield returns while mitigating risk against an unstable market. DLP now has five funds (two equity funds, two debt funds, and a notes fund), and Dr. Jim Dahle himself is a client. Visit DLP and discover another revenue stream for your portfolio. Check it out today!]

By Dr. Disha Spath, WCI Ambassador

He was absolutely ecstatic. I watched with amusement as my 7-year-old son bounced around the kitchen island with his hands up in the air, a big smile on his face, yelling Im financially free! Im financially free! I couldnt believe it. At 7 years old, this kid already got the concept that took me so long to learn. I cant even imagine all the places he will go from here.

How did my 7-year-old understand the concept of financial freedom? Well, I gave him the Cash Flow Quadrant board game by Robert Kiyosaki, the writer of Rich Dad, Poor Dad, for Christmas. I love this game because it depicts what happens to money in real life so well. All players start with many fixed expenses and some income. As the game progresses, the players can choose to buy assets (or take on liabilities that increase their expenses). If the player chooses correctly, their assets start to generate income. Eventually, passive monthly income surpasses monthly fixed expenses, and the player wins by being . . . you guessed it . . . financially free.

It so accurately represents how one can either increase income or decrease expenses or both to quickly reach financial independence. As a negative, this game doesnt really incorporate stock market or retirement investing in the game, which is in keeping with Kiyosakis leaning toward investing in real estate and intellectual property. But it teaches a difficult real-life concept of cash flow to young kids in a surprisingly expedient fashion.

Teaching my kids about money has been a personal mission. My grandmother used to do the same for me, although I was closer to 12 years old. In India, my grandfather was the Deputy Collector (financial official) of the town, but everyone knew my grandmother was the real accountant of the family. She knew where every dollar was invested and how much we owed and to whom. As I grew up, she would often sit me down with a cup of chai on a pair of wicker chairs in her kitchen and tell me all about it.

I got the feeling she was trying to teach me, and I am passionate about doing the same for my kids.

My husband and I had a chat about how wed like to approach teaching our kids about money. Both of us were on the same page that we wanted them to get started early with financial education. We also hoped we could instill in them an appreciation for the value of money and, ideally, gratitude for how privileged they really are.

Here are some of the ways we try to teach our kids about money.

My first mission was to help them understand the value of money. My husband and I made a chart of chores and assigned a dollar value to each assignment. I understand this may seem like a controversial thing to do, as people often say kids should do chores out of duty. But hear me out.

I want them to understand that to earn money, they have to work initially. The money they earn can be saved, spent, donated, or invested. Just like the real world. After all, we all work for money. Many of us have to learn, much later in life, how to advocate for our worth and our time. Id rather have my kids learn the value of their time and efforts and how to advocate for it now, instead of doing things out of a sense of duty.

As a result, my older son woke me up the other day with a request to assign him some chores.

What? I asked with sleepy eyes.

I want to do chores.

I thought I must still be dreaming, but no, I was verifiably awake. OK . . . but why so early?

I need money to buy books at the school book sale, he replied. I know what books I want, and they cost $3. What can I do to earn $3?

I smiled and gave him the chores he asked for. I couldnt have been prouder.

The boys know that we will cover their needs and give them ample gifts on special occasions. But they also know that if they want a toy outside of birthdays and Christmas, they need to save for it. I gave them piggy banks and wallets to save and carry their cash. Once they have enough for the toy they want, we go shopping. Its fun to see them making choices and doing the math to stick to their budget in between the Target aisles at 5 and 7 years old.

Part of the deal of them earning money is that I provide them with a mommy match into their UTMAs. We started Acorns UTMAs for them a couple of years ago due to the ease and general kid-friendly appearance of the interface. Whenever they earn money, I deposit the same amount in their UTMAs. Its easy to make small deposits into ETFs, and its easy for them to see which companies they are invested in. They understand that they own a piece of each company they buy a share in and that those companies are hard at work to make them money. They can see the future value of their money when they turn 21.

I havent shown them their balance recently, though. Im not sure theyre ready for a lesson on bear markets just yet.

Another way we teach them about investing is by taking them with us when we are working on our rental properties. They have painted many walls with us, and they know that, while we own the house, we let other people live in it and that those people pay us rent.

Instead of only writing checks to charity, I prefer to donate in person. I want the kids to see and experience the joy of giving and to understand what we are doing. It is amazing how empathetic kids can be. Every few months pre-COVID, we would go and cook a meal for the kids at the Ronald McDonald House in town. It was a great way to teach the kids to give in an environment that was comfortable for them, as well.

Now that we are all fully vaccinated, we hope to get back to it. We also practice giving by donating toys that the kids have grown out of, though this is a bit tougher for them.

Im excited to see the progress my 5- and 7-year-olds are making. I can see them absorbing the lessonswhether it's winning financial freedom in a board game or waking up extra early to do choresjust like I tried to do on the wicker chair in my grandmas kitchen. And I am honored to carry on the tradition of financial education that my grandmother imparted to me. Im truly amazed to see how easily and early kids can understand the concepts of money that we have such a hard time grasping as adults.

While Im sure theyll grow up and make their own mistakes, just like I did, I hope some of these lessons will stay in the back of their minds and will guide them in their time of need.

What are some of the money lessons your parents taught you when you were a child? If you have children, how have you taught them about money? Any other tips and tricks? Comment below!

How I Teach My Kids About Money - The White Coat Investor

Top 5 books to give you financial freedom – KOLR – OzarksFirst.com

Posted on July 27, 2022 by Dook Domini

SPRINGFIELD, Mo. Financial independence can seem like an impossible dream especially for those struggling with student loans, credit card debt or overspending habits.

Financial professional Brad Pistole from Trinity Insurance & Financial Services gives us his top 5 must-reads for financial freedom:

Dr. Wade Pfau Safety First Retirement Planning

Pfau describes this book as something that explains a different approach to retirement financial goals that first builds safety through a floor of reliable lifetime income.

Tom Hegna Dont Worry, Retire Happy: Seven Steps to Retirement Security

Dont Worry Retire Happy provides a straightforward guide to retirement planning.

(These) are for all ages. They focus on starting young and making sure you are funding the right kind of accounts for your future. They will stress the importance of Tax-Free investments vs tax-deferred which will mean taxable distributions later in life, said Pistole.

(Slotts book) goes into all of the various types of account options like 401ks, IRAs, ROTH IRAs, 403bs, etc. They will guide someone into the kind of decisions that will help determine whether they should choose a tax-deduction nowby using tax-deferred accounts or by paying taxes now and funding future tax-free accounts, said Pistole. Tax-Free = Financial Freedom.

Bonus

Patrick Kelly Stress-Free Retirement

Ed Slott Fund Your Future: A Tax-Smart Savings Plan in your 20s and 30s

Merle Gilley My Family Financial Miracle: A New Way of Thinking to Protect and Control Your Money

David McKnight Tax-Free Income for Life

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Top 5 books to give you financial freedom - KOLR - OzarksFirst.com

If You Want to Retire Early but Dont Want to Scrimp, Fat FIRE Might Be for You – NextAdvisor

Posted on July 27, 2022 by Dook Domini

Editorial IndependenceWe want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

You can pursue financial independence without giving up the finer things in life.

I have the ability to splurge on quality and luxury items and experiences including world travel, says Teri Ijeoma, founder of Trade & Travel, an online course that teaches an advanced form of stock market trading as a way to create supplementary income. Ijeoma is work-optional at age 38.

Back when I worked as an assistant principal, I hid in my office placing trades, she says. Unexpectedly, my boss strolled in at the moment my computer announced, Your trade is successful. That day, I made more in one trade than an entire month of my salary. At that moment, I knew trading was my exit strategy.

Teris lifestyle is an example of Fat FIRE, a beefed-up version of FIRE (Financial Independence, Retire Early) in which you anticipate more than $100,000/year in annual living expenses. If you want to pursue early retirement but dont want to live on a tight budget, the Fat FIRE approach may be what makes the most sense for you. With enough time and planning, some people can get there through low-cost, low-risk index fund investing.

Heres what you need to know about how to achieve Fat FIRE and reach financial independence.

The FIRE movement is about calculating your FIRE number the amount of invested assets you need to live off of investment income and retire early and then increasing your income and lowering your expenses to reach your net worth goals faster. A ballpark FIRE number can be calculated by multiplying your annual expenses by 25.

Annual expenses x 25 = FIRE number

This equation was popularized in the research paper Retirement Savings: Choosing a Withdrawal Rate That is Sustainable, written by three Trinity University professors and published in the American Association of Individual Investors Journal in 1998. Better known as the Trinity Study, the papers data set calculated that retirement plans over a certain net worth which had withdrawal rates of 4% per year or less had a 0% of running out of funds.

By keeping your expenses low, youll hit your FIRE number sooner, an approach known as traditional FIRE or Lean FIRE. But some people dont want to keep their expenses low, or they cant because of certain family circumstances. Enter Fat FIRE.

While we originally set our sights on Lean FIRE, we changed our goals after a few realizations, says Brian Davis, a real estate investor and founder of SparkRental, a company that helps middle-class people replace their salary with passive rental income. Davis and his wife live overseas to support her job as an international school counselor. First, I realized that my wife would never be content with a lean lifestyle, Davis says. But I also realized that, while we can live comfortably overseas on a relatively modest income, we could end up back in the U.S. at any time. Our parents are getting older, and their health will decline at some point. Or we may simply get sick of being so far away from our family and friends. Regardless, I cant count on a low cost of living forever.

Fat FIRE is typically classified as pursuing a FIRE number of $2.5 million or morewhich, with a 4% withdrawal rate, would yield income of $100,000 a year. The motivations of Fat FIRE enthusiasts may include:

I am a single woman with no children, so I am in a position to enjoy this wealth myself, says Ijeoma. But most importantly, I can offer these same experiences to the people I love and care for.

Fat FIRE is the same as regular FIRE, but the numbers are bigger across the board. You want a lifestyle that will require higher monthly expenses, which means your FIRE number and annual investment income will need to be higher and may take longer to achieve.

Davis and his wife are currently at about $600,000 in net worth, and on track to break the seven-figure mark in the next two years. Were still pretty far from some of our goals, he says. But its more about comfort and flexibility and reassurance as opposed to retirement itself.

The $2.5 million net work benchmark can feel steep; know that some people achieve FIRE and retire early with $1 million or less in their retirement savings.

Related: I Paid Off $50K in Student Loans On A $62,000 Salary and Set My Personal Finances Up to Retire At 45. Heres How I Did It

Lean FIRE, in contrast, is a net worth benchmark that assumes youll only have minimum expenses for food, housing, and transportation in retirement. Lean FIRE is sometimes defined as a lifestyle in which your current annual spending will remain under $40,000/year in retirement. Going by the Trinity study, such a lifestyle would require an investment portfolio worth $1 million. In contrast, Fat FIRE anticipates annual expenses of over $100,000/year in retirement, which requires a portfolio worth $2.5 million.

If youre pursuing your Fat FIRE number, youll reach and pass your Lean FIRE number along the way.

Here are some of the other popular interpretations of FIRE:

In Barista FIRE, you keep a part-time or low-stress job in retirement for residual income and health insurance to help offset annual spending costs. Many Americans aspire to Barista FIRE without even realizing it; they want to accumulate enough wealth to change or downshift their career.

Related: Is Your Starbucks Barista Secretly a Millionaire? Why Early Retirees Are Embracing Barista FIRE To Still Have Health Insurance

Coast FIRE is a retirement planning strategy in which your accounts have enough money invested to let compound interest get you the rest of the way to your FIRE number. When you hit your Coast FIRE number, you can stop contributing to your retirement accounts, freeing up monthly income, but your retirement timeline might be pushed back as a result.

You dont have to work full-blast all the way up until the day you retire. Consider checkpoints on your journey toward your Fat FIRE number in which you can downshift your workload and create more freedom.

A common theme among FIRE approaches is to aggressively pay down debt now so that youll be less burdened by expenses in retirement.

Related: Our Family Achieved FIRE at 39 and 41 on Salaries Of Under $100K a Year. Heres How We Did It

As my income grew, I became dogmatic about paying off all of my debt, says Ijeoma. Now Im debt-free even though I own multiple homes; I invested in some passive income [drivers], such as renting out my homes, Airbnb super hosting, and stablecoins, which give me interest each month.

For the entrepreneur, adopting a FIRE lifestyle is about stepping into who you truly want to become in life, says Ijeoma.

Now I purely work for fun and purpose. I feel like I still have a lot to give to the world.

Read the original:

If You Want to Retire Early but Dont Want to Scrimp, Fat FIRE Might Be for You - NextAdvisor

How To Deal With Financial Stress – Programming Insider

Posted on July 27, 2022 by Dook Domini

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Global challenges, pandemics, and inflation are increasingly taking a toll on Americans financial independence. The Planning & Progress study (2022) run by Northwestern Mutual showed that the average amount of savings has decreased by 15% over the past year, causing many households to endure the pressure of financial stress. If youre also experiencing a problem with spending money, we know youre not alone. This article will tell you how to relieve money stress and name effective ways to save money each month.

A light purse is a heavy curse, isnt it? Indeed, the long-lasting how to save money issue may significantly impair your mental and physical health. Muscle tension, depression, anxiety, and a sense of isolation are the most common financial stress symptoms. In the long term, money anxiety increases the risk of chronic diseases and worsens your general well-being.

Financial stress can both be caused by unforeseen events (layoff, divorce, health issues) or the pressure of routine obligations (mortgage, rent, student loan). Note those who live from paycheck to paycheck are not the only victims of money insecurity. Even wealthy households can face it. The May survey conducted by LendingClub found that two-thirds of Americans have experienced budget disruption at least once in the past three years.

Undoubtedly, money anxiety badly affects most aspects of life. The best way to get rid of it is to get the balance in order. Below weve listed the best practices to help with money problem:

If your current earnings do not cover the basics, increase the household budget with extra sources of income. For example, you can take on more hours at work or pursue a freelance project. Dont undertake more than you can handle. Your hobby monetization can become a healthy alternative to overtime workloads. Sell the homemade bakery, walk dogs, teach musical instruments make money from anything that excites you.

Conduct an inventory of your spending. What are essential bills, and what expenses can be cut? Set aside an untouchable budget for utility services, loans, and other mandatory bills. Check your paid subscriptions, shopping, and leisure expenses, and cut the unnecessaries as much as possible. This approach will help you save money without significant habit changes.

Initiate a so-called financial safety bag in case of sudden disruptions. Set a minimum monthly amount to save without hitting your wallet. Try to follow a plan and dont skip deductions. Making these contributions regularly will help relieve financial stress and make you feel more confident when facing new challenges.

Keep a budget, set financial plans, and follow your progress with automatic trackers. Youll always know the available money amount, the sum saved, your net worth, and expenses. Watch your financial habits change and celebrate your monthly achievements.

If you still dont have an online budgeter, try managing your money with Saldo Finance. It has an intuitive interface and many useful features for household budget keeping. Connect multiple accounts from any bank registered in the U.S., set monthly limits, and track your revenue in real-time. The app also categorizes your spending to better understand which payments to optimize.

Overcoming financial stress may seem very difficult at first. Dont worry, be patient and stick to your goal. Remember that the big things have small beginnings. Follow our tips to get back on your feet quickly and painlessly.

More here:

How To Deal With Financial Stress - Programming Insider

How to Build Real Wealth, According to What Kind of Spender You Are – Business Insider

Posted on July 27, 2022 by Dook Domini

There's tons of advice online about building wealth and retiring early, but it's hard to know which approach works best for your specific circumstances.

Kiersten and Julien Saunders, a couple who retired in their 40s and host the popular podcast rich & REGULAR, suggest finding out what kind of spender you are before creating your wealth-building plan.

In their new book, "Cashing Out: Win the Wealth Game by Walking Away," the couple explains that there are three different types of spenders.

In the book, the Saunderses say that understanding the true motivations fueling your current spending habits can help you choose a wealth-building plan that actually works for you.

The Saunderses point out that the financially insecure typically have difficult circumstances to navigate that make it harder for them to actually save and invest any money. "Because of this, they adopt a worldview based on the grim realities of life they experience every single day," the couple writes.

The financially insecure are more likely to equate their self-worth with their ability to perform well at work. They are always striving for higher-paying jobs, living paycheck to paycheck, and struggling to feel like they have enough.

To counteract the impulse to keep grinding hard at a 9-to-5 job, the Saunderses remind their readers that a salary is never going to outperform investing in the stock market.

The couple writes, "You must believe your income can work harder than you can. Instead of working for your money, you must adjust to managing your money so that it can multiply over time to serve your future wants and needs."

Of fast spenders, the couple writes, "Money both comes in and goes out at such a fast pace there's no time to build an emotional attachment to it and little incentive to try tracking it."

The couple writes about a friend of theirs who would rather go out for expensive drinks and indulge in luxury vacations instead of funding his retirement. "Plus, he believes that if he wantedto, he could start saving money tomorrow. The problem is, tomorrow never comes."

The book contains "richuals," simple guidelines that help readers change their relationship with money. A good "richual" for fast spenders is to track your income andhow you feel when you earn that money. The couple writes, "A dollar earned doing something you enjoy is always better than a dollar earned doing something you don't."

You will have about

$1,725,000

You will need about

$2,940,000

*Need is based on covering 70% of your annual pre-retirement income and a life expectancy of 100 years.

The Saunderses say that the financially insecure and the fast spenders are less common than the group they've named the middle. They write, "People in the middle often have enough income and are even saving for retirement, but they have no idea what they're saving for, how close or how far they are to achieving that goal, or why they're even doing it."

While their book speaks primarily to those in the middle, they recommend that all spending types create a distinct purpose for their income. The couple writes that income should first be used to gain security. Next comes flexibility to spend and save in alignment with your values. Then independence meaning, earning money is completely optional.

After achieving the first three purposes of money security, flexibility, and independence you can then use your income to achieve financial freedom.

For the financially insecure, financial freedom might be getting a better job or becoming free from a financial obligation. For the fast spender, it can be a state of emotional acceptance around your money, or selling a company that you built from the ground up.

For the middle, however, it can be hard to define what financial freedom actually looks like. This is why it's important to envision why you're trying to build wealth in the first place, and how you're going to assign purpose to your income to achieve those goals. The couple writes, "Financial freedom isn't a number; it's a feeling."

See the article here:

How to Build Real Wealth, According to What Kind of Spender You Are - Business Insider

A Newcomers Perspective On Toxic Bitcoin Maximalism – Bitcoin Magazine

Posted on July 27, 2022 by Dook Domini

This is an opinion editorial by Boomer, a long-time and active member of the financial independence/retire early (FIRE) movement and a contributor for Bitcoin Magazine.

I was recently inspired after reading Tomer Strolights piece, Bitcoiners Are Not Toxic They Have Integrity.

For context, I read it a few days after Nic Carters situation really exploded on Twitter, and Strolights article really resonated with me. To be clear, I have a great deal of respect for Carter and all the good work hes done for the Bitcoin community, especially the work hes done to debunk the energy fear, uncertainty and doubt out there. Like him or hate him, he really is one of the most important voices Bitcoin has in the energy and mining space. Over the past few weeks, hes been taking it on the chin from many people in the community for investments in blockchain and crypto companies through his venture capital investment firm, Castle Island Ventures. In his defense, hes been very transparent about his investments in these projects, talking about them quite openly on his On The Brink podcast for at least a year. In retaliation to the criticism, Carter has written a few articles and appeared on a few podcasts where hes punched back at the critics, calling out a vocal group in the Bitcoin space known as toxic Bitcoin Maximalists or derogatorily toxic maxis. I dont intend to go over exactly what was said about him or what he said back, but the whole thing has gotten pretty ugly. In this humble plebs opinion, it feels childish. It might be a symptom of the bear market that people in Bitcoin are turning on each other, or maybe its the Bitcoin immune system doing its job.

Over the past week, Ive been thinking about what the terms toxicity and maximalism mean to me. Ive purposely held back from reading too much on the topic because I want to make sure that I get to my conclusions on my own, but I know that there have been quite a few pieces on the topic recently. Pete Rizzo, Stephan Livera, and John Vallis have all written articles on maximalism over the past few days, and Im looking forward to reading them, but I want to get my own thoughts out there first. I have been listening to my regular rotation of podcasts and Ive heard pretty much every Bitcoin podcaster give their two sats on Carter, maximalists and toxicity. Id like to give a shoutout to Joey and Len from The Canadian Bitcoiners Podcast for discussing Carters recent spat with the maximalists in a way that I felt summed up the situation well. They get into it at the end of the episode.

When I first started my journey into Bitcoin, Elon Musk was in the middle of pumping dogecoin. I remember the mainstream medias fascination with the whole thing. Musk even hosted Saturday Night Live! It all seemed playful to me and it made sense. Musk is this future-centric tech CEO, and I knew that Tesla had put some bitcoin on its balance sheet. Bitcoin, ethereum, dogecoin it was all similar to me at the time, and Musk seemed to fit in perfectly. I remember listening to Bitcoin podcasts that were very critical of Musk, and it confused me. Any publicity is good publicity, isnt it? A lot of the Bitcoiners I was following were really upset over what this guy was doing, and I just didnt get it. I guess this was my first taste of Bitcoins toxic culture, not that I thought much about it. I wasnt ready. I was too busy learning.

Strolight wrote his article around the same time that Musk was hosting Saturday Night Live. It was before I was ready to understand it all, so Im thankful to have stumbled upon it now. It really motivated me to do a personal exploration into how I define maximalism.

Im nowhere near done in this exploration and it might be something that I ponder for a long time. Im still way too new here to have a fully formed opinion on what toxic Bitcoin Maximalism really is, but I know enough now to have a grasp on how Bitcoin continues to shape me and how important it is. Bitcoin means different things for everyone, so it only makes sense that Bitcoin Maximalism is just as personal. I truly believe that in Bitcoin weve discovered the greatest form of money ever and with this discovery, we have the potential to realign many (if not most) of the perverse incentives that plague this world. To me, this belief is Bitcoin Maximalism. Does standing up for that make someone a toxic Maximalist? I guess it depends on your perspective.

Generally speaking, Bitcoiners are leaders: type-A personalities that arent exactly the most politically correct group of people. What we are is a group of sovereign individuals guided by truth, transparency and a belief in a protocol that doesnt have time for bullshit. Of course, we can come off as toxic! Does that really surprise anyone!? There is a difference between being toxic and being an asshole, though. Some of the things Ive read on Twitter coming from defenders of Bitcoin are flat out rude, intolerant and childish. Slinging insults in the name of Bitcoin doesnt make you a maximalist, and it doesnt make you a hero, either. Stop that shit. It isnt helping. But if youre calling a spade a spade, that isnt toxic. And if youre offended by someone being toxic by defending something they believe in, maybe youre the toxic one.

Bitcoin is for everyone. And while there are no gatekeepers, maybe theres a need for protectors. Maximalism is that protection. Bitcoin Maximalists have to fight off threats, and there certainly are a lot of threats out there. Maybe maximalists need to be toxic since Bitcoin is itself, perfectly pure. Maybe Gigi is right and toxicity equals love. It's been said many times before, but I believe that the toxic maximalists serve as Bitcoins immune system. Like a biological organism, sometimes the immune system can go too far and kill off healthy cells from time to time, but it does so to protect the organism. A degree of toxicity is needed because if were not toxic enough, then shitcoins, scammers and fiat bloodsuckers will run rampant. But if were too toxic, well waste our energy fighting among ourselves and well alienate people who are looking on with curiosity. While no degree of toxicity will ever kill Bitcoin, an overly toxic environment could certainly slow down its adoption. Its a fine line to walk, and every Bitcoiner needs to find where they fit in, but we dont need to all agree on where that line truly is.

I know that Nic Carter has studied Bitcoin in more depth and for longer than I have. He knows that bitcoin isnt just an investment tool or an asset class. He knows just how important the discovery was. That being said, he should be allowed to invest in as many blockchain companies as he chooses to, but hes going to be held to a higher standard than some newbie, and he should expect that. He shouldnt be surprised (or triggered) when people call him out on it. Is this a case of the immune system attacking a healthy cell? Im not sure.

Personally, I find myself getting more and more convinced about Bitcoin by the day. I suppose my maximalism is growing and I find myself being less and less tolerant, but you still wont find me hurling insults on Twitter. Thats not who I am, but I reserve the right to be as toxic as I need to be. And you know what? You dont have to like it. We all have a role to play in this Bitcoin world. If I can eventually become the not-so-toxic Bitcoin Maximalist, thats a role Id be honored to serve, but to all the toxic maximalists out there, keep up the good work. Growth only comes from discomfort, and every time your toxicity makes someone uncomfortable, it helps someone else along their journey. Keep calling out bullshit as you see it.

This is a guest post by Boomer. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

Two changes to BankIowa’s executive team | Independence Bulletin Journal | communitynewspapergroup.com – Cedar Valley Daily Times

Posted on July 27, 2022 by Dook Domini

INDEPENDENCE BankIowa is pleased to announce two management changes.

First, Terry Toale, who serves as the banks Chief Financial Officer was promoted to Executive Vice President. Toale will continue in his role contributing to the banks management overseeing the banks finances, loan policies, and other administration duties.

BankIowas long history of being an exceptional financial institution continues today, Toale explained. My involvement in the growth of BankIowa through the years has offered me much professional experience and opportunities, of which Im very grateful.

Second, Pat Deignan, has joined the BankIowa team as Executive Vice President and Chief Banking Officer. In Deignans new role, he will provide leadership direction to BankIowas banking and client service activities.

For over 35 years, Deignan has worked in commercial and community banking, including the last 25 years in leadership roles. Most recently, Deignan served as a market leader for Bankers Trust and as a consultant with GreatAmerica Financial.

I am thrilled to be joining an incredibly talented group of bankers at BankIowa, whose goal every day is to take great care of their customers, Deignan explained. My efforts will be focused on continuing that great care and extending it to more businesses and individuals who can benefit from banking at BankIowa.

BankIowas President and CEO Alison Urbina said, these management changes support the banks strategic growth plans by appointing leaders who will assist in innovating our internal processes, maintaining the excellent banking experience our customers experience, and expanding the bank.

For over 100 years, BankIowa has been a dependable community partner. BankIowa currently has 13 locations in nine Eastern Iowa communities. With over $750 million in assets, BankIowa proudly remains an independent and locally owned bank. BankIowa offices are in Cedar Rapids, Cedar Falls, Independence, Jesup, Lamont, Norway, Marion, Rowley, and Waterloo.

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FIRE drill: GenX, do you have what it takes to retire? – MarketWatch

Posted on November 2, 2021 by Dook Domini

Fellow GenXers: of all the fire drills weve experienced in our decades on Earth, it seems that many of us missed the retirementFIREmemo in our early adult years: Financial Independence, Retire Early.

Indeed, many members ofGen X now between the ages of 41 and 56 are still traveling the road to financial independence with retirement as a future destination, instead of a current reality. The opportunity to retire and say see ya to our bosses and employers has already passed us by. But its not too late to make a few smart money moves to help achieve financial security in retirement. Ill share them with you below.

But first, lets look at where weve been and where we are. When we started our careers and families, retirement seemed unattainable. We were slammed early in our adult years with the dot.com bubble, the Y2K scare and then the housing bubble. Financial panic defined our modus operandi.

To top it off, weve since evolved into the forgotten middle children, sandwiched between three living generations ahead of us (The Greatest Generation, The Silent Generation, and baby boomers) and three behind us (Millennials, GenZ and The Alpha Gen). We have the responsibility of caring for parents and children while trying to maintain our own fragile financial sanity and security.

Also see: How this woman went from six figures in debt and unemployed to financial independence

With around a decade or two before our first retirement milestone Medicare eligibility at 65 and the optimal milestone of Social Security income at 70 (the claiming age when monthly benefits are largest), our best course of action is FIRE drills. That means preparing ourselves for retirement readiness, better late than never.

By knowing where you stand, what you want and what you need to reach retirement readiness, you can achieve financial security. Heres how Im advising clients to do so:

Know where you stand.Your financial picture is best summarized by a Net Worth Statement. This statement lists all your assets (what you own) and liabilities (what you owe), with the difference between the two reflecting whats available after paying off debt.

Now that youve likely reached your high-earning years, consider these questions:

Know what you want.It is not easy detangling your identity from the familial and professional roles that demand your attention, time and money. As the sandwich generation caring for parents and children while holding middle- to senior management jobs, we have limited opportunities to determine what we want now, let alone plan for what we desire in the future.

Read: The FIRE movement confronts the 4% rule

Our confidence in retiring comfortably waivers with each decision that pulls at our financial resources and our human capital the ability to sustain the jobs that demand so much from us.

Many of us have taken a piecemeal approach to our personal finances, gathering money tips here and there from family members, co-workers and the media and financial professionals.

Most Americans still believe that financial planners are a luxury reserved only for the wealthy. According to a 2021 study by the Magnify Money site, only30% of Americans use a financial plannerto create and follow a dynamic financial plan anchored in their values and goals, reflective of key areas such as taxes, retirement, investments, insurance and estate planning.

Does this sound like you?

Know what you need.Fortunately, many Americans are living 30 years in retirement almost as long as our working careers. As such, we Gen Xers must modify our needs or adjust our strategy to support this newfound time.

Consider how much money you may need to support activities like travel and exploration. Dont forget about planning for rising health care costs or the possibility of long-term care, as well. According to the financial services firm Fidelity, a 65-year-old might need to earmark as much as $300,000 after taxes to cover themselves.

Finally, what have you done to prepare to leave wealth for the next generation? The Gallup polling firm recently reported that less than half of the U.S. adult population(46%) has a will. How about you?

Read: Im 52, wont live past 80 and have $1.6 million. I am tired of both the rat race and workplace politics. Should I retire?

Well likely need to revisit these drills until our retirement goals are realized. But by knowing where we stand, what we want and what well need to retire comfortably, we can reach our destination faster.

Lazetta Rainey BraxtonCertified Financial Planner Lazetta Rainey Braxton is co-CEO and co-founder of2050 Wealth Partnersand CEO and founder ofLazetta & Associates. She is passionate about amplifying diversity, inclusion, equality and belonging in the financial planning profession and does so through financial planning, public speaking, writing, consulting and coaching. She was named a 2021 Crains New York Business Notable Black Leader and Executive as well as one of the Top 10 of Investopedias 100 Top Financial Advisors in 2020 and 2021. In all her endeavors, she is on a mission to create wealth for the common good.

Bank of America Better Money Habits Research Finds That, Despite Barriers, 80% of Gen Z Are Taking Positive Steps Toward Achieving their Financial…

Posted on November 2, 2021 by Dook Domini

CHARLOTTE, N.C., Oct. 27, 2021 /PRNewswire/ --Gen Z is emerging from the pandemic with a greater focus on saving, financial independence, gathering life experiences, and seeking financial education many were without access to in their schools and communities growing up. This is according to new researchpublished today by Bank of America's Better Money Habitsexploring what this generation (ages 18 to 24) view as their greatest financial barriers, and how they are taking charge of their financial lives.

"As Gen Z gets started financially and professionally, we see a great deal of motivation and positive steps toward building a solid financial foundation," said Christine Channels, Head of Community Banking and Client Protection at Bank of America. "At the same time, an unmistakable need for more financial education persists among this generation. Through our Better Money Habits platform, we're committed to connecting these young adults to a wide range of resources and guidance to help them develop financial know-how, and navigate barriers to achieving their goals."

Key findings from the researchinclude:

The research also explored the role of race, ethnicity and gender in access to financial education and opportunities, uncovering:

Black/African American Gen Z more likely to be financially independent, cite starting a business in their definition of success

Hispanic Gen Z highlight greater gaps in financial education, see homeownership as success

Gen Z women face financial knowledge and investing gaps, but are more likely to be taking steps toward financial wellness

"As a company and as a society, it is critical that we address the financial education and opportunity gaps that persist across the communities of young adults we serve," said Alberto Garofalo, Community Banking & Development executive at Bank of America. "This research is another step in our commitment to fully understanding the unique needs and priorities of diverse communities, so we can provide the resources and guidance to empower everyone on their journey to financial wellness."

Better Money Habits

As Gen Z prioritizes better money habits, they continue to seek advice and guidance as they look to take control of their finances and plan the future. Bank of America's Better Money Habitsplatform offers free financial education content and tools that break down financial topics in ways that are approachable and easy to understand. The platform connects people at all life stages to relevant tools that help build know-how to help them take action toward their financial goals. It also includes specific resourcescatered to Gen Z and young adults, covering topics including budgeting, building credit, borrowing, investing and more. We continually look for ways to expand the reach of Better Money Habits and also offerSpanish language resourceson the site.

Methodology

The study was conducted August 12 September 7, 2021, by Ipsos in English and is based on nationally representative probability samples of 1,024 general population adults (age 18 or older), and a partially overlapping sample of 635 Gen Z adults (age 18-24), including 28 Gen Z adults from a non-probability sample. This survey was conducted primarily using the Ipsos KnowledgePanel, the largest and most well-established online probability-based panel that is representative of the adult US population. Panelists are scientifically recruited into this invitation-only panel via postal mailings to a random selection of residential addresses. To ensure that non-internet households are included, Ipsos provides access to a tablet and internet connection to those who need them. Because of this probability-based sampling approach, KnowledgePanel findings can be reported with a margin of sampling error and projected to the general population. The margin of sampling error for the general population sample is +/- 3.3 percentage points at the 95 percent confidence level.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 17,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 32 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information,visit theBank of America newsroomandregister for news email alerts.

Reporters May Contact:Betty Riess, Bank of America [emailprotected]

SOURCE Bank of America Corporation

http://www.bankofamerica.com

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Bank of America Better Money Habits Research Finds That, Despite Barriers, 80% of Gen Z Are Taking Positive Steps Toward Achieving their Financial...

Target Date Funds Take the Guesswork Out of Retirement Investing. Heres How – NextAdvisor

Posted on November 2, 2021 by Dook Domini

As an individual investor, it can feel overwhelming to choose among individual stocks, index funds, and other investment options to build your retirement savings.

High-performing assets earn the most money, and the old saying is true: higher risk can lead to higher rewards. But as you approach retirement age, you should tailor your portfolio to your age and have less risky assets.

Thats where target date funds come in. Target date funds are a mix of stocks and bonds in a single fund that automatically become less risky over time.

Theyre a simple way of investing with a single fund that adjusts the asset allocation mix over time to minimize risk, explains Fernanda Novaes, Portfolio Manager at Intercontinental Wealth Advisors.

If your investment goal is to save for financial independence, you might want to invest in a way that matches your risk tolerance without any effort on your part, which is exactly what target date funds do.

So what are target date funds? Lets look at what they are and how they work in practice.

When retirement is many years away, investing in riskier options like stocks and equities is what experts suggest. Then, as retirement gets closer, you should gradually introduce less risky assets, such as bonds and treasury notes. Target date funds do this for you automatically, with no rebalancing on your part.

If you choose a target date fund, choose one thats closest to your anticipated retirement year. Our experts recommend broad-market index funds for most young investors.

Target date funds are what we call a fund of funds, meaning theyre a mix of other funds that are chosen for you, like an S&P 500 or a Russell 2000 fund. If you dont have the time or expertise to choose, it can be better to let the experts take care of it, adds Novaes.

When selecting a target date fund, youll typically select the date that most closely matches your anticipated retirement year.

If you want to retire in 40 years, youll want a 2060 target date fund. At todays point in time, it will start with more stock and equity exposure and less fixed-income exposure, says Michelle Katzen, Managing Director, certified financial planner, and CDFA at HCR Wealth Advisors. Over time, that fixed-income exposure will become a larger part of that investment bucket while the equity piece reduces, Katzen says.

The fund in this example would first focus on high-risk stocks with the potential for higher returns. As 2060 approaches, those investments will roll into lower-risk bonds that are less risky and with lower returns. Katzen calls this the glide path. Its a mandate on how your fund will be invested so its very clear on day one that each year, it will get more conservative by reducing equity allocation and increasing fixed income allocation.

Over the years, those shifting allocations might look like:

The exact percentages will depend on the fund you choose, but the idea is to create an automatic path toward the year of your retirement.

Index funds are another investment option that offer broad exposure to the market without having to choose individual investments. But unlike target date funds, index funds track the overall market, a certain industry, or a specific stock type.

The difference is in the rebalancing.

Index funds arent going to adjust the asset allocation for you. Whatever the fund is, its always going to remain in that asset. Theyre not going to take into account that you need money in 30 years for retirement like a target date fund would, says Novaes.

If you choose a high-risk index fund, it will always be high-risk and potentially have higher returns.

Compare that with a target date fund which does change risk level. Getting away from higher-risk investments in the final years before retirement means you can lose out on higher returns toward the end of the fund, but its keeping your investment safe, which is what its intended to do.

The best choice for you is one that matches your investment goals, investment timeline, and risk tolerance level. A good investment strategy asks for diversification and theres no one-size-fits all solution.

In fact, millionaire investor and founder of Personal Finance Club Jeremy Schneider says if he could redo his entire $4.5 million investment portfolio again, hed only invest in target date funds.

The target date index fund is actually, truly the most optimal, simple, low-cost investment strategy, Schneider tells NextAdvisor.

If you dont know where to start or want to invest without thinking about your portfolio, a target date fund is an excellent choice. You can always shift to other funds whenever you want.

The most important thing is to start investing and if target date funds provide the introduction, then thats great.

If you make the decision to invest with a target date fund, the best choice is one that most closely matches your anticipated retirement year. For example, if you think youll retire around 2057, a 2060 fund would make the most sense for your timeline.

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Target Date Funds Take the Guesswork Out of Retirement Investing. Heres How - NextAdvisor

How to negotiate the salary for your first job offer – CNBC

Posted on November 2, 2021 by Dook Domini

Getting your first job offer is exciting joining the full-time workforce can mean a salary, benefits, and a path to financial independence. But before jumping to accept an offer, it's important to assess what exactly the company is promising you and negotiate your salary.

Most people hate negotiating (who can blame them) and don't do it. More than half (56%) of workers don't negotiate when given a job offer, according to CareerBuilder.

But here's a news flash: Most employers will negotiate even for entry-level employees. More than half (53%) of employers said they would be willing to negotiate first-time salaries, according to CareerBuilder. It's actually built into their strategy: Most employers will offer a lower salary to start, leaving room for negotiations. So, by not negotiating, you could be leaving money on the table!

And the payoffs from those negotiations can be huge in some cases, 11-20% higher, according to Jobvite's Job Seeker Nation Study.

So, let's say you get offered a starting salary of $40,000 11% of that is $4,400! And that's PER YEAR. So, if you stay at that job for 2 years, you would've made an extra $8,800. Three years that's $13,200. Plus, if in a few years you go for a promotion, you're negotiating that salary from a higher rung on the salary ladder. And, as you move up, you'll keep earning more than you would have if you settled for the first offer each time. That means paying off student loans more quickly, having more money in your pocket, being able to afford a nicer apartment/house you get the idea.

When you think of it that way, why wouldn't you negotiate?

More fromCollege Voices:How do you land your first job out of college?Why Black and Latinx women are more likely to struggle with impostor syndromeand how to overcome itWomen in STEM: 3 Challenges we face and how to overcome them

More than half (51%) of workers who don't negotiate fail to do so because they don't feel comfortable asking for more money, according to CareerBuilder. Nearly half said it was because they were afraid the employer would withdraw the offer. More than one-third said it was because they didn't want to seem greedy.

I sat down with some negotiation experts and those with some negotiation experience to talk through tips on how to approach your first job offer.

How to get over asking for more money

"You always negotiate a job offer job offers are dynamic," said Liza Babin, a 23-year-old who works in entertainment and negotiated her salary for her first two jobs. "They chose you because you were the best person for this job, and you have a lot of value."

Liza Babin

Source: Henry Platt

She recommends never accepting an offer on the spot and, instead, take some time to research the marketplace for this position. Once you know what you want from the negotiation, ask to talk through the offer "very calm, collected, and well-researched."

Kate Dixon, a negotiation coach and author of "Pay Up: Unlocking Insider Secrets of Salary Negotiation," said she tells her clients to phrase a salary negotiation as collaborative. Phrasing a salary increase in such a manner, keeps both sides on the same team. She suggested saying something along the lines of, "According to my research, jobs like this are paid between X and Y in the marketplace and I'm targeting the higher end. How close can we get?"

This kind of phrasing helps show that you've done your research and gives them a range of options to solve this negotiation, while also empowering you to begin your relationship with the company confidently.

But there are other options than just asking for a higher salary.

Peter Cappelli, a professor and director of the Center for Human Resources at the Wharton School of Business, said another strategy is to ask for one-time payments, such as a signing bonus or larger coverage of moving expenses. That may lead to more success than asking for the long-term cost of a recurring higher salary.

"Look for things that you think might be easier for them to give to you and things that are valuable to you," Cappelli said. He said knowing what's on the table to negotiate besides salary such as moving your start date back, more time off or job title makes your negotiation stronger than making demands they can't meet like higher salaries or health-care packages outside of their standard offering.

How to prepare for a negotiation

An important part of the negotiation process is being prepared for whatever might come your way. Knowing what a reasonable demand is shows the company that you did your research to make an equitable ask. Cappelli stresses that it's important to have a reason why you're asking to negotiate. For example, if people in your area, people at other companies in a similar position, or candidates with your education level typically earn more.

"You need a reason why more pay is merited," Cappelli said. "Just saying, 'I want more' isn't going to get you it and you start to look foolish."

Leveraging her prior experience as a basis for a salary increase was especially key for Alba Disla when she negotiated her salary at her first full-time job with the Diversity, Equity, and Inclusion team at Comcast in 2019.

Alba Disla

Source: Debbie Rabinovich

"I was very nervous because I just wanted any job at all and I was so ecstatic I even got the offer," Disla said about what was her dream job at the time. "I didn't have any formal corporate experience, but I had a lot of prior experience in an academic setting, so I used that to buffer my counterargument."

Disla ended up getting her offer raised by $4,000.

"I was really happy that I successfully negotiated because it was something I was very scared about, but I know it's important as I start my career, especially as a woman of color," Disla said.

"It's really important to advocate for yourself early on."

Dixon said it's common for first-time negotiators to be nervous about the negotiation, but it's important to not take what amounts to a business transaction personally.

"If you can get a little bit of emotional distance, it enables you to be much more effective in salary negotiations," Dixon said. "What a company offers you says more about how they value that job than you're worth as a human being."

Negotiation risks

One of the biggest concerns people have when negotiating is often that the offer will be taken away. Negotiating a first job can feel particularly risky, since you're coming from a place of no employment and you feel like you don't have leverage.

But the experts I spoke to said that the biggest risk is only that the company will say "no."

"I have never seen an offer pulled for somebody negotiating in good faith," Dixon said. "The risk of getting your offer pulled for doing a negotiation is practically nil."

Disla said that was exactly what she was afraid of going into the negotiation.

"A really big psychological thing for me to get over was part of me didn't want to confront them or counter because what if they take the offer away?" Disla said. "But it just doesn't happen that way The worst case is you get the original offer back."

However, Dixon cautioned that trying to push someone beyond a "best and final offer" can lead to frustration from your potential employers. Asking for more once the line has been clearly drawn is the only negotiation that can be considered a "risky proposition."

She recommends approaching a negotiation with gratitude and excitement for the offer to set the negotiation up in positive way. Thinking about the negotiation as a collaboration rather than a competition will make for a productive conversation rather than an aggressive situation.

Recognizing your worth

"Even if you don't get anything monetarily, you're still showing who you are as an employee. You're showing them, 'Hey, I advocate for myself. I understand my worth,'" Dixon said.

Understanding her worth is something Babin reminds herself of before entering a negotiation.

"Coming from that place of insecurity when you are leaving college and you have nothing to fall back on, it's so important to know your worth and be able to stay strong during those negotiations," Babin said. "Make sure you remind yourself of your own worth throughout the process, because it can be very easy to get discouraged."

For women especially, negotiating a first job is an essential way to start at a fair financial point. Hired found that 63% of the time, men were offered higher salaries than women for the same job. However, only 7% of women even attempt to negotiate their first salary, while 57% of men do, according to a study done by Carnegie Mellon University professor Linda Babcock.

So, negotiating is essential to getting a fair offer especially for women.

Jordan Mathews said she negotiated her most recent job offer, despite knowing how difficult it is to negotiate a salary with the government, because she felt that as a woman, it was "a priority" to at least try. After three months of negotiations and undergoing a security clearance, Mathews started her job as a program analyst with the Community Relations Services team at the Department of Justice. Mathews said she doesn't regret the amount of time and effort she put into negotiating as she's "very happy with the final result."

Jordan Matthews

Source: Kamil Hamid

"I knew that I had a lot of skills and experiences that were valuable and deserve to be recognized in my salary," Mathews said. "Don't undercut or undersell any skill that you have that might be relevant. Everything is valuable You have the most power when they want you."

So, for anyone out there questioning whether or not to negotiate a job offer, you have very little to lose and possibly a lot to gain!

The experts I spoke to recommended LinkedIn videos, the NPR Life Kit podcast, or negotiation books to educate yourself. Once in negotiations, Glassdoor and PayScale are great resources to get a sense of the market wage for your position. For Mathews, Disla, and Babin, having a mentor who supported them through the process was essential in helping them direct negotiations with end results they were happy with. Ultimately, don't be afraid to negotiate for what you think you deserve.

"People feel like millennials can be entitled in that we don't want to come off a certain way, but I think we need to shift our perspective," Mathews said. "Having employees coming in who recognize their value and what they're going to add to a team is something hopefully [companies] want. It actually shows confidence."

CNBC's "College Voices is a series written by CNBC interns from universities across the country about getting their college education, managing their own money and launching their careers during these extraordinary times.Kelly Heinzerling received her undergraduate degree from the University of Pennsylvania and her master's degree from Northwestern University. She was an intern on CNBC's creative services team in the summer of 2021. The series is edited byCindy Perman.

Disclosure: Comcast is the parent company of CNBC.

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Celsius Network delivers more than $1 Billion in yield to its community – PRNewswire

Posted on November 2, 2021 by Dook Domini

HOBOKEN, N.J., Nov. 1, 2021 /PRNewswire/ -- Celsius Network, the leading global cryptocurrency earning and borrowing platform, announced it has paid more than $1 billion in digital assets to its community of 1.2 million users - marking the most yield paid out to users by any crypto platform. Celsius achieved this feat in three years, a time during which the total assets on the platform have grown to more than $25 billion today.

"This achievement is a testament to the hard work our team has put in to deliver for our community and to drive unstoppable growth for Celsius," said Alex Mashinsky, CEO of Celsius at Web Summit 2021. "This impressive milestone shows that both doing good and doing well is possible."

Celsius provides yield on 46 different assets - including Bitcoin, Ethereum and stablecoins - with rewards paid out weekly on every Monday. The platform maintains some of the highest rates in the crypto lending industry, generating yield by lending to institutions, exchanges, and individuals in addition to staking, DeFi and mining operations.

With Celsius paying out yield at a rate of $15 million per week while banks continue to pay on average 0.01% - it is easy to see why so many have chosen to open accounts with Celsius and earn yield on crypto.

As part of its Proof Of Community (POC) and Rewards Explorer, Celsius provides real-time data about its assets, loans, users and rewards paid. Celsius users pay no fees and get weekly yield payments.

The news follows Celsius' recent announcement of a $400 million investment led by WestCap, a growth equity firm, and Caisse de dpt et placement du Qubec (CDPQ), a global investment group. The investment will reflect a valuation of more than $3 billion for Celsius.

About CelsiusCelsius helps hundreds of thousands of consumers worldwide to find the path towards financial independence through a compounding yield service and instant low-cost loans accessible via a web and mobile app. Built on the belief that financial services should only do what is in the best interest of the customers and community, Celsius is a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visitwww.celsius.network.

Media Contact[emailprotected]

SOURCE Celsius

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Celsius Network delivers more than $1 Billion in yield to its community - PRNewswire

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Category Archives: Financial Independence

Is it necessary to buy either life or term insurance policies? | Mint – Mint

The Most Affordable Region In The US Where The American Dream Is Still Alive – House Digest

Weekly Wrap: Inflation, Bias, and What the Experts Say About a Recession – Morningstar

Why A Recession In 2022 Will Be Unlike Any Other – FedSmith.com

Six Key Drivers to Consider on the Path to Independence – Wealth Management

GOP’s post-Roe reveal: Republicans don’t think raising children is real work – Salon

UBL records phenomenal H1 PBT of Rs34.2b, with 32pc growth – Daily Times

CEMEX B de C : invests in global venture fund oriented to sustainable construction – Marketscreener.com

How I Teach My Kids About Money – The White Coat Investor

Top 5 books to give you financial freedom – KOLR – OzarksFirst.com

If You Want to Retire Early but Dont Want to Scrimp, Fat FIRE Might Be for You – NextAdvisor

How To Deal With Financial Stress – Programming Insider

How to Build Real Wealth, According to What Kind of Spender You Are – Business Insider

A Newcomers Perspective On Toxic Bitcoin Maximalism – Bitcoin Magazine

Two changes to BankIowa’s executive team | Independence Bulletin Journal | communitynewspapergroup.com – Cedar Valley Daily Times

FIRE drill: GenX, do you have what it takes to retire? – MarketWatch

Bank of America Better Money Habits Research Finds That, Despite Barriers, 80% of Gen Z Are Taking Positive Steps Toward Achieving their Financial…

Target Date Funds Take the Guesswork Out of Retirement Investing. Heres How – NextAdvisor

How to negotiate the salary for your first job offer – CNBC

Celsius Network delivers more than $1 Billion in yield to its community – PRNewswire