Category Archives: Financial Independence

Breadcrumb Trail Links

The conversation about money starts at home

Author of the article:

With inflation rising and the cost of everyday goods going up with it, your teens need to be aware of the current economic climate and be equipped for the future.

This advertisement has not loaded yet, but your article continues below.

When my parents came here from East Africa, we didnt have much money. So it was really important that we were really careful in terms of where we shopped, and how much we spent, says Alim Dhanji, a certified financial planner based in Burnaby, B.C. So it was a lot more ingrained into you [things like] dont leave the lights on, close the windows.

And I try to teach my own kids, you cant just leave the lights on because that increases our electricity usage [on] our bill or, you know, just those little tips to add to how theyre thinking.

Parents are increasingly having financial discussions with their teens who are becoming income-earners and learning how to manage their own money themselves.

This advertisement has not loaded yet, but your article continues below.

About two-thirds of parents and teens report that money is one of their most talked-about topics in the past six months second only to the pandemic according to new data from U.S. fintech company Greenlight.

Ninety-seven percent of parents also said they believe financial knowledge and skills are necessary for their kids to achieve life goals, and 93 per cent of teens agreed.

Money has traditionally been a taboo topic, and thats why it can feel uncomfortable discussing it, even among family at home, Jennifer Seitz, education content lead at Greenlight, told MoneyWise in an email.

More from MoneyWise

This advertisement has not loaded yet, but your article continues below.

Its important for teens to know the personal finance basics so they can be prepared for financial independence in the future. That includes topics like planning, smart spending, saving and investing, and even credit.

The Greenlight study reported that gas prices and inflation were the biggest financial stressors for parents and teens followed by interest rates, taxes, stock market volatility and student loans.

Canadas inflation rate spiked to a 31-year-high of 6.7 per cent in March. Dhanji says parents should discuss the rising costs of everyday products and services with their teens and use real-life examples, like the cost of gas over the years.

He suggests theres an opportunity to cut back on the little things, like making your lunch at home instead of buying takeout, or taking public transit instead of purchasing a car.

This advertisement has not loaded yet, but your article continues below.

Seitz adds that many teens may also be working at a part-time or after-school job, which means they need to learn how to manage their income as well.

Dhanji teaches Dollars and Sense at elementary and high schools, and speaks at colleges and universities about financial planning. He says peer pressure and social media can play a major role in teenage spending.

When youre a teen, you just want to fit in [Try] to help them understand that they dont need the latest gadget, or name brand clothing and down the road, theyre going to be in a better financial position to do more with their money.

As teens get older, they begin thinking more about their life after graduation and are making decisions about college, careers and financial independence, says Seitz.

This advertisement has not loaded yet, but your article continues below.

Dhanji advises that teens set up a Tax-Free Savings Account (TFSA) as soon as they turn 18 and save up funds for future goals or expenses like their education.

With my son, Ive tried to ingrain that things are getting more expensive, to write your goals down, he says. And eventually, if you have enough savings, youll be able to buy a condo and start home ownership. But, savings have to start right away.

He suggests teens write down their income and expenses and use budgeting tools so that theyre conscious of how much theyre spending.

A 2021 Greenlight survey also found that 86 per cent of teens are interested in investing, but nearly half havent invested because they dont feel confident, or their parents dont know how to get them started.

This advertisement has not loaded yet, but your article continues below.

Like any potential investor, teens should know the level of risk they are comfortable with for their money, because it is possible to lose it, says Seitz. Its safer to spread money over a variety of types of investments.

Dhanji recommends teens get their financial advice from a reliable source, like FP Canada, as opposed to social media platforms like Reddit and TikTok.

I recommend starting early, doing some basic budgeting and teaching them a little bit about cost and that they have to be aware of what things cost because without having proper savings, its going to be really difficult to meet their goals.

Dhanji says you can also explain compound growth which he dubs compound coolness and investing, as well as saving money, paying your bills on time and avoiding credit card debt.

This advertisement has not loaded yet, but your article continues below.

He recommends showing teens trends in the stock market, using their favourite brands as examples.

Seitz adds that its important to be open and ready for financial questions from your teens.

Dont keep money hush hush or shy away from money questions, she says. You dont have to have all the answers to be a trusted source of advice. If you dont know, you can do a little research and learn together.

Dhanji also says parents shouldnt dont be afraid to reach out to a reliable source for help, like a certified financial planner.

At the end of the day, we want to make sure our children are responsible, good inheritors.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

This advertisement has not loaded yet, but your article continues below.

Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.

A welcome email is on its way. If you don't see it, please check your junk folder.

The next issue of Calgary Herald Headline News will soon be in your inbox.

We encountered an issue signing you up. Please try again

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Read the rest here:

How to have 'the talk' with your teens -- the money talk, that is - Calgary Herald

Item 2.02 Results of Operations and Financial Condition

On May 5, 2022, ICD issued a press release reporting its results of theCompany's operations for the quarter ended March 31, 2022. On May 16, 2022, ICDissued a press release announcing corrections to the earnings press release andcorrected unaudited financial results for the quarterly period ended March 31,2022. The correction relates to non-cash entries recorded to finalize thevaluation and accounting presentation of embedded features associated with theCompany's Convertible Senior Secured PIK Toggle Notes due 2026 and conformsreporting and presentation in the press release to the results and presentationas reported in the Company's Quarterly Report on Form 10-Q for the three monthsended March 31, 2022. A copy of the press release is being furnished asExhibit 99.1 hereto and is incorporated herein by reference.

The information furnished pursuant to Item 2.02, including Exhibit 99.1, shallnot be deemed "filed" for purposes of Section 18 of the Securities Exchange Actof 1934, as amended (the "Exchange Act"), is not subject to the liabilities ofthat section and is not deemed incorporated by reference in any filing of theCompany under the Exchange Act or the Securities Act of 1933, as amended, unlessspecifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

--------------------------------------------------------------------------------

Edgar Online, source Glimpses

Excerpt from:

INDEPENDENCE CONTRACT DRILLING, INC. Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K/A) -...

Oh My Girls Arin took part in celebrating Koreas Coming of Age day!

The holiday celebrating all those turning 19 years old (the age considered as becoming an adult in Korea)fell on May 16 this year. In light of this, Arin donated 20 million won (approximately $15,570) to The Beautiful Foundation, where her funds will be used to assist 18-year-old youths leaving childcare facilities on their path to financial independence.

This is the second time that Arin has supported this cause. She donated 30 million won (approximately $23,352) to the foundation last June in celebration of her birthday, responding to her fans love with a meaningful donation. Aside from this,Arin has regularly donated tohelpsenior welfare centers, elderly living alone, and vulnerable social groups.

Arin commented, I took part in giving with the hopes that becoming independent is as joyful and exciting of an event for those 18-year-old adults (campaign name) who have to become adults at a younger age as it is for the average youth celebrating this Coming of Age day.

Watch Arin in The World of My 17below:

Watch Now

Source (1)

How does this article make you feel?

See the rest here:

Oh My Girl's Arin Makes Donation In Light Of Korea's Coming Of Age Holiday - soompi

PARADISE, Calif. - Volunteers and several local businesses are helping rebuild homes on the ridge with the Habitat for Humanity organization.

Around 25 volunteers were out helping build fences, sheds and irrigation around multiple homes on Saturday.

The homes built through Habitat for Humanity are built from the ground up by the organization and volunteers.

"The women's build groups this weekend are helping get these homes built and we anticipate these homes being finished sometime this summer. What they're doing is helping us to get the outside work done," Executive Director Nicole Bateman said.

Volunteers dug ditches for sprinkler systems around each home and built the sheds so families have extra storage when they move in. One woman who has worked in real estate for decades said she knows firsthand the benefits homeownership can have on a person's life.

"If we can help families get into their own homes for a sense of security, what a safe place to raise your family is to own your own home and the real first step to financial independence. I have believed in-home ownership for over 40 years, it's what I do for a living and I definitely believe in getting women heads of household and all families into their own home," Becky Prater said.

Future Habitat for Humanity owners also spend several hours building other homes in the community. Jessica Ramirez hopes to move into her new home in the next couple of months.

"You learn about each other. We're all in the same boat. We're all Camp Fire survivors. I know one of the families is living outside of Butte County but is coming back to do sweat equity hours. So yes, a good bond. And I know with these houses being so close together they'll have an even stronger bond," Ramirez said.

Some of the homes being worked on Saturday were built with a material called insulated concrete which not only helps cool the home but is also fire resistant.

Habitat for Humanity expects all three homes they're building on Gardner Ave. to be ready for move-in around June or July.

The Women's Build continues May 15 in Paradise. Several local sponsorships go toward supporting this weekends event.

Continue reading here:

Habitat for Humanity gives back to the Ridge - Action News Now

Agile consultancy combines decades of commercial and litigation credentials with worldwide government experience including CIA and FBI, to provide deep and cutting-edge subject matter expertise, both technical and geopolitical, enabling C-suites to solve the hardest problems of the day.

NEW YORK, May 17, 2022--(BUSINESS WIRE)--Global Data Risk LLC (GDR) today announced the launch of its multidisciplinary independent consulting practice offering bespoke investigative, litigation, testimonial, cyber, economic and financial strategic expertise services to corporations, law firms, financial institutions, agencies and governments around the world. Members of the GDR investigations team are among the leading practitioners in the fields of intellectual property, strategic intelligence, cyber risk, geopolitical risk analysis, insider threat and reputational risks. Executive management includes former senior leaders from several large firms and government agencies who have provided highly specialized consulting services to organizations, companies and agencies for the past 40 years.

"Demand for independent real-time, actionable business intelligence and litigation decision-making informed by data that impacts the global business ecosystem has never been higher," said Erik Laykin, Global Data Risk, CEO and Managing Partner. "Our clients often require the investigative assistance of focused teams that combine well understood technology capabilities, regulatory and industry expertise and a real world understanding of the geo-political landscape which is embedded GDRs DNA."

GDR launches at a time when its global services and strategic partnership offerings are increasingly sought after to support the mission-critical systems of business and organizations, given that current political and macroeconomic events are presently the most powerful drivers of world markets. By example, Russias invasion of Ukraine as the largest, most dangerous military event in Europe since WWII has significantly increased the cyber threat to the West while the partial emergence of the global economy from the constraints of the coronavirus continues to generate challenges, offering fresh opportunities across financial, business, tech and science sectors. Simultaneously, domestic and cross-border strategic trade, overextended supply chains and new technology competition are driving trends and global fragmentation that demand a focus on boosting industry and institutional self-reliance, with an emphasis on the reduction of vulnerabilities and managing disruption.

Story continues

"GDR disrupts the traditional consulting firm model by primarily relying on the experience and judgment of senior level professionals, as opposed to defaulting to the standard scheme of leveraging down to teams of analysts which often only serve to drive up project costs," said John Bass, GDR president and former operational commander at the CIA. "Managing discreet high-stakes engagements across multiple continents is the norm for our teams which use agile methodologies and close, transparent collaboration. Our hallmark is independence and objectivity with an eye toward quick commercial resolution of the challenge or dispute."

GDR is composed of professionals who deploy around the world on short notice and who maintain deep local connectivity in their respective markets and industry specializations. In the information age, nimbleness contrasts with traditional consulting firms and allows for a more rapid and cost-effective application of GDRs expertise.

"Our seasoned experts understand that data which can include everything from email, databases, formulas, log files, texts, online content, source code or even satellite communications is the connective tissue of our globalized economy," added Laykin, who is considered one of the worlds leading cyber investigators. "GDR marries this technical expertise with true business subject matter mastery to provide superior value to its clients. As the result of our sound and holistic guidance on disputes, litigation and other inquiries, we resolve our clients challenges unencumbered by conflict or incentive."

ABOUT GDR

Founded in 2022 and headquartered in the historic financial core of New York City, Global Data Risk LLC (GDR) is an independent investigative consulting firm focused on risk in the information age. GDR specializes in the evaluation, protection and management of risk-facing organizations that rely on data, the life blood of the modern economy. From mitigating the impact of financial sanctions to critical M&A due diligence assignments, from opining on the internal controls of a multinational to providing winning expert testimony on a trade secret dispute, GDR is unique in that it provides unencumbered objective analysis and actionable direction for senior management at the crossroads of data driven corporate challenges.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220517005484/en/

Contacts

CJ Martinez CJ.Martinez@globaldatarisk.com +1 310 980 5431

Read more here:

Global Data Risk Launches Worlds First Fully Independent Firm Specializing in High Stakes Investigations and Expert Testimony, Financial Regulatory...

From an early age, Ansa knew she had the potential to turn challenges into opportunities. Despite working long hours in the fields, her father was unable to provide properly for his wife and four children. So, she did what any other girl in her position would she quit school and started working with her father on the farm.

Ansa worked hard and with consistency. However, despite working long hours, she was unable to manage her household expenses. Matters worsened when Ansas mother and brother passed away in a road accident. As life got tougher, Ansa realised that it was time to do something more. It was taking a while for Ansa to decide what was she going to do next. Until, one fateful day, a team from FrieslandCampina Engro Pakistan Limited (FCEPL) arrived in her village and approached the local prayer leader with an idea. Around prayer time, the imam made an announcement that FCEPL was going to train villagers about cattle, how to look after farm animals and monitor their health. When she heard the announcement, she just knew that she had to go for this training.

With the goal of creating sustainable livelihoods for women as well as inclusive communities in rural Pakistan, FCEPL initiated the Enhancing Womens Income through Dairy Interventions (EWID) project in 2019. This was just the opportunity that she was looking for and jumped at the opportunity to learn about cattle. The team trained Ansa and other interested villagers for three months, following which they set up a camp in the village and asked farmers to bring their animals over for a check-up.

The camp was an eye-opener for me, shares Ansa. I saw the team at work and observed what they did. I also managed to assist them in some cases. As a result of this exercise, the villagers and farmers started trusting me and my work. Now, they bring their animals to my place for consultations.

This three-month course was a game-changer for Ansa and she was glad that she is able to give back to her community as well. People in my village respect me so much. The experience has been excellent. Several farmers have benefitted from my preventive and nutrition services.

Ansa also believes that the trust and appreciation that she receives from the villagers has encouraged her to do even more than this. The response had been so positive and overwhelming that I have managed to set up my own extension services. The training has empowered me to aim for bigger and better things.

Like a snowball effect, Ansas sister Aqsa followed in her older siblings footsteps. While she was still grieving her mother and brother, Aqsa realised that she had to share the financial burden with her sister as well. While Ansa was working outside the house, Aqsa decided to quit school and help out at home. Aqsa already knew about the training her sister had received but she wanted to do something different.

The team taught her all about procuring milk and this is how Aqsa became the first woman to be a Milk Collection Agent. Then, she shared all the information with others interested in becoming agents and soon, she started her own business.

To help Aqsa and women like her, the team also set up a milk chilling facility, which has helped increased income levels. Earlier, a large quantity of milk would go to waste because of unavailability of a cold storage facility which would impact the supply and demand chain.

However, it was difficult to get the business off the ground. She faced several problems. For example, it took time to get milk from one place to another and she had no way to do it. To get on top of the situation, Aqsa decided that she would learn how to ride a motorcycle. While this made her job easier, the villagers were not accepting to the idea. However, Aqsa was determined and she wanted to work. This was the only way she could do it, and so she went ahead with her mission to break this bias.

Eventually, the villagers got used to seeing her going around on her bike and appreciated the good job she was doing. I was adamant to make this work and slowly the criticism stopped. Soon enough, I started noticing many other girls in the village riding on motorcycles. It made me happy to see the girls going to school, completing their education, and gaining good employment, enthuses Aqsa.

In a small village like Vehari, these two sisters were not only able to defy rigid stereotypes that are deeply rooted in a patriarchal society, but they also paved way for other girls as well. With their hard work and availing the opportunities they found, Aqsa and Ansa became role models for their success, financial independence and confidence.

Tehmina Majid is one such young woman who was inspired by these two sisters. Six years ago, Tehminas life turned upside down when her father passed away. At the time, he was the breadwinner of the family. Unfortunately, a few months after her fathers untimely death, her mother had a heart attack and was severely ill afterwards. This meant that she could not work in the fields anymore but as the eldest sibling, Tehmina was now responsible to put food on the table. Things were getting worse. Tehmina had to drop out of eighth grade to find a full-time job to support her mother and seven siblings and manage the household as well. Looking for work, Tehmina landed a job at a vegetable farm for Rs 6,000, which was below minimum wage. The job was tough but she worked tirelessly from 6 a.m. till late in the evening every day. Seeing her work such long hours and struggling to manage her home, the head of the village discussed her situation with the FCEPL team and recommended that they meet her.

After their first meeting, the team offered Tehmina to train her in livestock extension services. For a month, Tehmina received gruelling training on preventive measures, first aid and nutrition of livestock. To encourage and motivate her to attend training, the company organised a pick and drop transport service for her. Every morning, she was picked up from her residence and dropped off at the training facility a dairy farm on Khanewal Road. At the end of the day, she was dropped back home.

As a part of the learning process, Tehmina had started visiting nearby villages and farms and would talk to farmers about their cattle and illnesses. After completing the month-long training, Tehmina was given a veterinary tool kit and told that she could start work on disease prevention, deworming and nutrition of community animals. With her hard work and dedication, she quickly became popular. Her work encouraged people from different villages and surrounding areas to reach out to her for help. This training gave me courage, confidence and financial independence. The dark days now look brighter. Had my father been alive, he would have been proud to see what I have become, she enthuses.

There are many rural communities in Pakistan that are struggling to make ends meet. And while it can be easier to send out donations and set up temporary help projects, these projects are much more detrimental to a community. To help a community grow, initiatives should ensure that these communities can survive on their own and have a sustainable livelihood. FCEPLs initiative is all about providing long-term benefits in the form of higher yields, employment opportunities for women and a boost to rural economy. The company has trained 8,200+ female farmers, including 3,000+ female farmers and milk collection agents under the Enhancing Womens Income through Dairy (EWID) initiative of the Dairy Development Programme (DDP). Trainings under DDP and EWID include best practices for dairy farming, animal health, milk hygiene and collection, quality testing, farm economics, and calf rearing, among other trainings for capacity-building and capability-building. These trainings have helped improve the quantity and quality of milk collected. The beneficiaries are equipped with veterinary toolkits to start their own shop, offering livestock extension services, and improving resilience of farmers to climatic and economic shocks.

Empowering female farmers and agripreneurs through dairy interventions and ensuring inclusive growth and profitability, are key pillars of the companys sustainability strategy. My financial independence and work gave me the opportunity to send my younger siblings to school. My younger brother is now employed, my mother is also doing much better now and things are looking up, shares Tehmina. When asked about what she wants to do next, Tehmina did not hesitate to reply, To learn more.

The writer can be reached at

rajakamran5@gmail.com

See original here:

The brave women of Vehari - The News International

By Will Gunlicks, CFP

As a financial planner and advisor, my goal is to help clients make important transitions from job to job, and from working to retirement. These transitions can often be difficult and stressful, but with a solid plan in place and a measured approach, its possible to find success in the long run.

Will Gunlicks

A trend Ive seen in recent years involves the desire to work in retirement not at the same job, or even the same industry, and usually not at the same number of hours. People are deciding to leave their long-term job or career but theyre not leaving work entirely. Instead, theyre looking for something new, and perhaps, more fulfilling. While the global pandemic has helped influence this trend, research by Savant Wealth Management and Absolute Engagement found that the urge to work differently in retirement has been building for years. In the study, nearly 70% of respondents told us they would transition to a different kind of work or work on their own terms if they thought it was an option.

If youre considering working differently after your primary career, youre likely to meet plenty of peers in the same boat. But before you decide to be retired and working, I encourage you to consider these three questions:

An old saying, attributed to Alice in Wonderland author Lewis Carroll, reminds us that if we dont know where were going, any road will get us there. But what happens when you arrive to find that you dont like the destination?

To map out your desires and dislikes for your potential work in retirement, you need to start with your vision for the future. What are the goals that working would help you achieve in the short-term, or even in the long term? In your vision of the future, what are you doing and who are you with? How are you spending your time, on or off work? Perhaps youd like to turn a lifelong hobby into a paid position. For example, if you love golf, you might consider working at a golf course with colleagues that share similar interests. Your vision and goals will help narrow the universe of possibilities and help you identify the types of industries and/or jobs that seem most appropriate for your situation. Stating your goals in one or two written sentences can also help you start a firm blueprint for your next chapter.

Next, try jotting down your anti-vision of working in retirement. What do you not want your job to entail? What impact do you not want it to have on your life, or the lives of your loved ones? Mapping out the effect a poor choice could have on your time, money, relationships, and mental and physical wellness helps clarify what you do want. Your anti-vision can often translate into positive goals, such as making an impact in your local community, traveling more with your spouse or family, caring for an aging parent, or pursuing a hobby that fell by the wayside while you were too busy working.

Follow us on Instagram and Twitter!

Once you determine your vision and goals, its time to focus on the financial implications of your potential transition to help ensure you can maintain your planned lifestyle through retirement. Your evaluation should include these five areas:

Understanding cash flow and expenses. While many people dont follow a budget throughout their lives, creating one now can help you understand if your transition plan will work. As part of this exercise, youll need to identify which expenses are fixed (such as your mortgage, car loans, utilities, etc.), and which are discretionary (dining out, entertainment, vacations, etc.).

Next, examine your sources of income in retirement. You may receive cash flow from a pension, Social Security, rental income, or your portfolio in addition to your planned work income. To feel truly confident about your finances in retirement, consider using a robust projection calculator, or working with a CERTIFIED FINANCIAL PLANNERTM professional to crunch the numbers and test your assumptions. This exercise can help you determine your level of financial independence as well as identify how much potential income you may need from your next job.

Healthcare coverage. The next key area involves planning for the healthcare coverage you will need prior to age 65, when Medicare will start. Several options can fill this gap, including COBRA insurance from your current employer, coverage from your spouse or partner, an Affordable Care Act policy, a private market policy, or even a part-time job that includes eligibility for health insurance benefits.

Reviewing retirement accounts and other benefits. The third item includes reviewing, in detail, your retirement accounts and existing employee benefits. Before you make any big changes, youll want to understand the critical milestones, ages, and vesting schedules you'll need to consider and coordinate into your overall plan. Your company retirement plan, such as a 401(k) or 403(b), likely comprises one of your largest financial assets. If you plan to tap into your retirement account, youll need to review the rules first. Up until age 59 1/2, any distributions you receive from retirement accounts could be taxed and subject to an additional 10% early-withdrawal penalty. However, a special provision allows you to avoid penalty if you separated from service after age 55 and those dollars remain in your 401(k). If you roll those funds to an IRA, you could lose penalty-free access.

Creating a tax strategy. Your fourth key action item is to develop a multi-year tax strategy for at least the first five years of your transition. Up to this point, you likely havent had much control over your taxable income if youve earned W-2 wages. Your tax return could look very different as you transition to your new chapter, and you may find yourself with a lot more control over the sources of your income, how much you earn, and when you receive it.

The period between the end of your traditional working life and age 70 (the latest age to begin collecting Social Security) represents your strategic tax window, because you will have much more control and more opportunities for tax savings. One popular technique to consider to help save on taxes during this strategic tax window includes converting pretax IRA dollars into a Roth IRA, especially if youre in a relatively low marginal tax bracket in a given year. The second popular strategy to consider is to trade out of concentrated positions, like company stock, or other positions that have high unrealized capital gains at low or even 0% rates, if you fall under certain tax thresholds.

Investment alignment. Your overall portfolio allocation and investment mix can make or break your entire transition plan. Youll need to test your overall risk level, or the mix of stocks and bonds in your portfolio, to ensure your future expected return is high enough to keep up with inflation and the growth you need within your nest egg. Youll also need to ensure the amount of risk you're taking in your portfolio doesnt stretch beyond your personal comfort level.

Another critical component of investment alignment is making sure you put the right assets in the right accounts to ensure your overall portfolio mix is tax efficient. Your traditional or Roth IRA, as well as any taxable brokerage investment accounts, often contain a variety of assets, such as stocks, bonds, or liquid real estate. Each involves a different tax treatment, so placing the right assets in the right accounts supports long-term tax efficiency.

The final step to create your retired and working plan is to figure out how to find that next job that fits perfectly with your vision, goals, and overall financial situation. Financial planners and advisors often help clients with the first two steps, but Ive found that also using a career coach for the final step can be a tremendous boost and benefit to making this plan a reality. Mary Ellen Ball, a career coach and owner of Open Delta group, shared her thoughts with me. According to Ball, the transition steps you take may appear simple on paper, but require thoughtful planning (financial and logistical), as well as deep accountability. Her recommendations include:

Transitioning into a retired and working phase in your life can prove to be very rewarding and satisfying when done with careful planning. Hiring professionals, such as a CERTIFIED FINANCIAL PLANNERTM professional and/or a career coach, could also potentially provide you with partners and a sounding board to make this the best transition possible. Best of luck in your retired and working journey!

William V. Gunlicks is a financial advisor and team lead at Savant Wealth Management, a fee-only, independent registered investment advisor. A CERTIFIED FINANCIAL PLANNERTM professional, Will has been involved in the financial services industry since 2003.

This is intended for educational purposes only and should not be construed as personalized investment or tax advice. Please consult your investment and tax professional(s) regarding your unique situation.

Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP and CERTIFIED FINANCIAL PLANNER in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Consider Your Future Living Location before Deciding Whether to Contribute to a Traditional or Roth IRA

Deciding Where to Live in Retirement

Baring All the Facts About Retiring to a Nudist Community

The 15 Best Islands in the World to Retire To

Visit link:

What Does Working in Retirement Mean, and How Do I Do It? - TheStreet

According to KuCoins Into The Cryptoverse research, 35% of Nigerians aged 18-60 have invested in or are trading bitcoin and other cryptocurrencies.

The survey exposes key information about the local population, such as the fact that 33.4 million Nigerians, or 35 percent of the population aged 18 to 60, now hold or have traded cryptocurrencies in the last six months.

Over half of Nigerian cryptocurrency investors put their money into digital currency. 65 percent of Nigerian crypto investors use peer-to-peer trading to put fiat money into cryptocurrency.

Another significant result is that 70% of Nigerian crypto investors want to expand their cryptocurrency investments in the next six months, indicating that digital asset adoption is rising in the nation.

The fact that the Nigerian currency, the Naira, has devalued by nearly 209% in the last six years might be ascribed to such high adoption rates. According to the KuCoin poll, 37% of crypto investors in the nation have been trading cryptocurrencies for more than three years, with 6% trading for more than six years.

With national inflation rates at their highest since 2008, Nigerias difficult economic situation was exacerbated by the COVID-19 epidemic, making cryptocurrencies an appealing alternative source of income, especially in the optimistic market of 2021.

Such explanations are supported by the reports findings, which show that 26% of surveyed crypto investors have started trading cryptocurrencies in the last six months.

According to the report, the strong adoption rate of cryptocurrencies also demonstrated gender parity in crypto investing, with women accounting for 50% of all crypto investors, on a level with males.

According to the breakdown of reasons for investment, 53% of investors consider cryptocurrencies to be a reliable value-storage and payment means, 50% invest to gain higher long-term returns, and 40% attempt to start their own businesses and improve living conditions.

Another 36% invest as a supplement to their salaries, 34% strive for financial independence, and 26% hope to rely on cryptocurrencies as their primary source of income.

In times of economic difficulty, cryptocurrencies are becoming a significant financial tool for Nigerians in times of payment and value storage, according to the Cryptoverse research.

.

Link:

Study Reveals That Over A Third Of Nigerians Have Invested In Crypto In The Last 6 Months - TronWeekly

Stock market holidays are non-weekend business days when the two major U.S. stock exchanges, the New York Stock Exchange (NYSE) and the Nasdaq, are closed for the day. These holidays typically closely follow federal holiday schedules, as they are usually major holidays like Christmas and Independence Day.

Regular operating hours for both exchanges are Monday-Friday from 9:30 a.m. 4 p.m. ET. Markets do not operate during the weekend.

Sometimes, if a holiday falls on a weekend, stock markets will close on the Friday prior to the holiday, as is often the case with Good Friday and Easter.

Below is the schedule for 2022 stock market holidays when the NYSE, Nasdaq and bond markets are closed:

The Securities Industry and Financial Markets (SIFMA) provides this holiday schedule as a recommendation for bond markets, and is subject to change. (Heres a list of days when banks are closed for the holidays, too.)

The stock market generally follows its holiday schedule without any additional early closures, with the exception of the day before Independence Day (falls on a Sunday in 2022), Black Friday and Christmas Eve (falls on a Saturday in 2022), when the Nasdaq and NYSE close at 1 p.m. ET.

Bond markets, however, have some early and additional closures throughout the year. Bond markets close early, at 2 p.m. ET, on the following days:

Read more from the original source:

Stock market holidays 2022: The US markets are closed on these days - Bankrate.com

The financial independence movement is inspiring new followers - as young as 28 - who want to quit their day job and do their own thing.

The pandemic has prompted people like 30-year-old Michelle Ives to realise how fragile her financial security is.

"Anything can happen that has the potential to shake the normalcy of our lives. It has reminded me of what matters - it's not sitting at a desk for eight hours a day," says Michelle.

She is drastically overhauling her family's finances, so they have more control over their lives. She wants to have the freedom to make choices about her life and work.

Michelle was already plugged into the growing personal finance movement that offers an abundance of information about saving and investing online. It is FIRE, an acronym for financial independence, retire early. As well, there is a more laid-back version, FI, or financial independence.

"If anything, the pandemic has just encouraged us to reach our goal more aggressively," says Michelle.

Michelle and her husband are saving 70% of their income and hope to retire in a few years. They have been FIRE followers for seven years. While she loves running her own copywriting business, she wants to take back her life while she is in her 30s and healthy, and to get out and enjoy it.

"In some ways, COVID-19 has actually galvanised the importance of FIRE for many because we've now had a glimpse of what a better work-life balance feels like."

People have increasingly realised that they don't want to be stuck in a soul-crushing job, with long commutes, well into their 60s. They didn't want the anxiety that comes with working flat out, explains Serina Bird, who was connected to a work chat group and emails with alerts pinging from early morning until late at night.

So much so that two in five Australian workers (43%) are unhappy with their work and are planning to actively search for a new job in 2022, according to a survey by Elmo Software. Workers are prioritising more flexibility, working remotely more often, access to extra annual leave as well as increased wages and promotion.

A third of workers say they plan to quit their current job as soon as they secure a new role, with 19% intending to quit before lining up another job.

"The 'great resignation' is a thing and most employers don't get it," says Serina, who retired at 47 from a desirable public sector position.

There are newcomers switching onto the FIRE and FI philosophies to get rid of debt, rigorously save, invest sensibly and enjoy a modest, agreeable life. Those people on the FIRE journey retire in their prime.

"The pandemic has reinforced for many the value of the basic building blocks of FIRE, such as having a cash cushion in uncertain times," says Jason, who has accumulated $2.7 million and will retire early next year.

FIRE is based on the philosophy of Peter Adeney, aka Mr Money Mustache, who kicked off the movement in 2011 (see mrmoneymustache.com).

It is about building up enough investments so you can live off the returns for the rest of your life. Once you hit the point where the income exceeds your living expenses, you no longer need to work because you are financially independent.

Adeney came up with what he calls a "shockingly simple" formula. You take your annual expenditure and multiply it by 25. This calculation is based on "the 4% rule", where retirees withdraw no more than 4% of their total savings each year.

He says if you can save 50% of your take-home pay from the age of 20, you can retire at 37. If you can save 75%, you can retire in seven years.

Adeney's "mustachianism" lifestyle is about 50% cheaper than that of most of his peers and the surplus is invested in simple exchange traded funds and a rental house or two. He has inspired not only our six case studies but has resonated with millions of followers.

The philosophy of FIREs isn't about getting rich quick, but about taking a slow path. Forget about market timing - trying to find the best time to get in and out of the market - because, as Adeney says, it generally sucks.

The FIRE movement is evolving in a time of interesting financial changes. While the focus is still on saving and taking frugal steps, it is also about the choices that open up as you edge towards financial independence.

You can fire up any part of your life with a FI strategy. It can mean you live overseas and travel 52 weeks a year. You can volunteer to help others. Or, in Tasha's case, you can have a baby on your own.

You can connect with all sorts of FIRE communities for support and feedback from real people.

Financial independence increasingly is for people who don't want to retire young or sacrifice too many of life's indulgences, but want flexibility in their lives.

"Early retirement conjures up hazy images of long golf games and pastel leisurewear," says Jason. "For seekers of early retirement, this vision doesn't connect with them very often - they are usually highly motivated and goal-oriented people with no desire to sit around on the couch for 30 to 50 years following early retirement."

"Many actively seek alternative passion projects, or to simply approach work from a strong negotiating position. This has led many to observe - myself included - that it's the financial independence we seek first and foremost, with the retire early part being optional or even irrelevant."

Dave Gow, who retired at 28, says: "You can choose your own adventure. It's not a one-size recipe for early retirement."

Some FIREs, like Matt, who runs the Aussie Firebug podcast, wants to "start a small business, spend time with my family and not have to commute to work".

Matt says he has always wanted to be able to scale back his work from five to three days a week when kids came along.

"Also, the free time to keep fit is a priority for me. I understand that when kids come on the scene things change and most people give up some of their 'me' time. I don't want to sacrifice my health and still want to be able to do all things I do now," he told the blogger Adventures with Poopsie.

Some people may not believe that retiring early in their 20s, 30s or 40s is really an option, but our case studies show that you don't need a windfall or a high-paying job or a lucrative tech start-up to retire early.

Serina, Leo, Michelle all show it is possible to save and retire early with a young family despite plenty of people telling them that financial independence wouldn't happen if you had kids and all the financial responsibilities that came with them.

Of our six case studies, Dave, Serina, Michelle, Jason and Tasha run blogs. Dave Gow hasstrongmoneyaustralia.comand, with Pat Seyrak fromlifelongshuffle.com, hosts fortnightly podcasts, FIRE & Chill. Serina Bird:joyfulfrugalista.com. Michelle Ives:thatgirlonfire.com Jason runsthefiexplorer.comand doesn't give his real name as he is apprehensive about talking to his work colleagues about his plans to retire early. Nataasha Torzsa:tashagetsfrugal.com.

The pandemic, and now the Russia-Ukraine war, have challenged short-term plans for some FIREs, especially those who enjoy travelling.

Jason, for example, says his plans to travel around Australia and overseas are now "up in the air". But it's also an opportunity to "keep my head down investing, until the outlook becomes a little clearer".

The economic fallout from the war may also hit saving and investing targets in the short term, but it's the long term that counts.

"The war in Ukraine is many things - most obviously an urgent and tragic humanitarian event as well as an opportunity for giving - but it is not a reason to change overall investment direction for someone seeking financial independence through a well-diversified portfolio," says Jason.

Markets, especially sharemarkets, tend to climb a wall of worry and expand even across periods that are objectively challenging.

"There are always sensible-sounding reasons to hold off investing, and await more certainty, but inaction just delays the powerful force of compounding returns getting underway over time. Putting in place simple automatic systems can help avoid the temptation to just wait and see that can end up costing investors dearly as markets recover and grow."

Jason says most major events reflected in newspaper headlines today will have little impact on returns over long-time investment frames of 10, 20, and 50 years.

Stay tuned over the next three weeks as Michelle, Serina, Dave, Leo, Tasha and Jason share their FIRE journeys. Or,order a copy of the April issue of Money!

Get stories like this in our newsletters.

Original post:

How the pandemic has 'galvanised the importance' of early retirement - Money magazine