Category Archives: Financial Independence

By Dr. Erik Hofmeister, Guest Writer

My wife and I hit our financial independence (FI) target number this summer, in our early 40s. We are both professional academics and are currently renting, and we will continue to rent until we actually retireat which point we will move into one of our current investment properties. I am often struck by peoples obsession with owning a home. We owned a home for 15 years, and it was a wonderful experience for that time in our lives. But owning a home should not be universally equivalent with financial success.

Here are seven reasons renting can be much better than owning. Residents, in particular, take heed.

Everyone thinks renting is throwing money down the drain compared to owning. You know whats throwing money down the drain? Buying over $10,000 of stuff the first few months of owning my first house, which rapidly depreciated. Lawnmower, toolset, dining room table, new paint, hedge trimmers. It was ridiculous. A lot of people just look at the mortgage rate per month and compare it with the rental rate. Obviously, you need to add taxes and insurance. And then all the other stuff.

Theres a reason that investment property owners tend to assume that about 45% of the rent will go to expenses. There are a lot of expenses of owning a home separate from the mortgage, taxes, and insurance. A new AC unit, a new refrigerator, dealing with flooding. Theres always something going wrong when you own a house. When we sold our first house, it was an incredible relief. I was constantly worried something serious would happen that would be expensive to repair.

This is different from #1 because it depends on the market. We currently live in a college town that also happens to have an incredible school district. This means that buying a house is fairly expensive because all of the faculty want to be in the city limits so their kids can go to a good school. Simultaneously, renting is relatively inexpensive, because the student population keeps rental prices down.

There are many markets like this around the country (and the world). The Bay Area, Toronto, New York City, and Seattle come to mind. Youre actually better off renting and investing the savings. Its just too expensive to buy a house.

Not only do you not have to buy the toolset if you rent, but you dont have to do the work! Just call up the rental company, and it's taken care of. On a website where people regularly discuss the cost of something that saves them time (hiring landscapers, cleaners, etc.), I am surprised people dont calculate the value of the time they spend taking care of their house. Maybe they hire out those things, as well.

How is your experience hiring a contractor to do a $50 job? Mine is abysmal. They rarely actually show up and then you have to check them to make sure its actually done. I dont even have to be home for the rental company maintenance to come take care of something. It has been literally life-changing to not have to take care of home maintenance and repairs personally. I hated cutting the grass (to the tune of two hours), and the cost for paying someone else was far more than I thought it was worth. Maybe I could have found a neighborhood kid, but I would still need to get fuel for the lawnmower and do its maintenance. At my rental, its just . . . all taken care of.

I really enjoy walking to work. Ive been doing so regularly for the past three years, and I cannot imagine ever again living somewhere I couldnt walk to work. You know whats not within walking distance of my current workplace? Single-family homes or townhouses. There are some small condos, lots of mobile homes, and some fancy student apartments. So, if I want to walk, Im either renting or buying something I dont really want.

Maybe your thing is being on the water. Maybe its having a pool you dont need to maintain. I loved living in apartments in Phoenix and always having access to a pool that I didnt need to think about maintaining. Maybe its being around people (or away from people). There are dozens of reasons why a certain location may be better to rent than buy.

Everyone seems to hand-wave this away. Yeah, yeah, you have to own it for more than five years because of transaction costs. But think about the math on this. The realtor takes 6% of the gross sale. You usually have to pay a lawyer and lots of little fees like title searching. There are potentially other transaction costs, though.

Depending on your circumstances, you may move into your new place before you can sell your old one. You would have to pay for both locations. Although this is possible if youre renting (its happened to me twice), its usually a lot easier to leave a rental than to sell a house.

Some houses you may sell as-is, but you should expect to get a lower offer if you do so. You may need to do painting and other cosmetic repairs. You may need to roust vermin from your attic or under your porch (armadillos are surprisingly pernicious). You can DIY, saving money but costing you time and hassle. Or you can hire others, often at exorbitant rates. (Guess how much youll be charged to get rid of an armadillo. Triple that and you may be close to right.)

A key principle of successful financial management is to limit your downsidehow much you might lose in a transaction. Theres a reason the term money pit exists for houses. Pretty much every house has hidden problems that can blossom into serious catastrophes. If you own, youre on the hook for anything that happens. If you rent, the worst they can do is take your deposit and possibly bill you for damages you caused (e.g. carpet replacement due to cat urine). There is substantially less risk to your finances if you rent rather than own.

For a blog dedicated to people being financially free, Im curious why so many are excited with the idea of being bound to a house. I suppose you could theoretically walk away and stop paying the mortgage, but that has significant consequences. If you walk away from your rental, the worst thing that happens is you pay the rent until the lease runs out. More importantly, you have a lease. You KNOW when you can get out. In planning for an early retirement, it is nice to know that we can plan our transition away from this house at the exact same time we transition away from work.

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When to Rent vs. Buy a Home

Owning a house can sometimes be good. I tell the vet students to whom I teach personal finances that if they really want to dig up the backyard and fill it with rocks, yes, you need to own a house. If they want to knock down walls and install a walk-in shower, they need to own. But renting has many benefits and I think everyone assumes that, once your finances are set, you should buy. I am here to tell you: you can be FI but be perfectly happy renting.

If you include it in your retirement budget, it can be just like health insurance, food, travel, or any other expense. Run the numbers, consider the intangibles, and dont let anyone else tell you what you should do with your housing.

Do you agree? What other benefits have you experienced by renting instead of buying during your residence? Comment below!

[Editor's Note: Dr. Erik Hofmeister is a Professor of Veterinary Anesthesia at Auburn University and blogs about veterinary academics at vetducator.com. This article was submitted and approved according to our Guest Post Policy. We have no financial relationship.]

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Is Renting Better Than Buying? We Think So. - The White Coat Investor

A key part of your retirement financial plan may be based on a faulty assumption.

Im referring to whether youll save and invest more for your retirement after your children become financially independent. Thats when your earning power is likely to be the highest it will ever be and you have the potential to make major contributions to your 401(k) or IRA. In addition, by earning all you can, you postpone further into the future the time when you have to start withdrawing from your retirement portfolio.

Many financial plans are based on the assumption that you will make those large contributions and postpone retirement withdrawals as long as possible. But researchers have failed to find strong statistical support for this assumption. While the data show that households do in fact decrease their spending after their kids become financially independent, their savings and investments dont show a corresponding increase. If households are spending less but not saving and investing more, wheres the money going?

A new study from Boston Colleges Center for Retirement Research (CRR) set out to tackle this question. Entitled Do Households Save More When the Kids Leave?, the study was written by Andrew Biggs, a senior fellow at the American Enterprise Institute; Anqi Chen, a research economist and the assistant director of savings research at CRR; and Alicia Munnell, director of the CRR.

The researchers focused on data from the Health and Retirement Study (HRS) from the University of Michigan. The HRS, which is conducted every two years, is perhaps the most comprehensive examination available of attitudes toward retirement; it is based on a survey of around 20,000 Americans over the age of 50. After consideringand ultimately rejectingseveral other possible answers to the question wheres the money going?, the researchers arrived at a tentative answer: Parents are choosing to work less after their children become financially independent. That explains how it can be true that both household consumption and savings/investing decline.

How much less are parents choosing to work? The accompanying chart provides an answer. On average, according to the researchers, the hours worked per week stand at 53 or higher in the years immediately prior to their children becoming financially independent. This steadily drops in the subsequent years, and by the sixth post-independence year the average stands at around 37. (These numbers not only reflect averages across many different households, but across different definitions of when children achieve financial independence.)

Not necessarily irrational

I hasten to add that it isnt necessarily irrational for parents to work less after their kids leave home. It doesnt automatically make sense for them to continue knocking themselves out working in order to save and invest for a retirement that is uncertain. As economists teach us, when uncertainty is higher we need to discount the future at a greater rate when calculating its present value. A near-retiree who views the future as particularly uncertain may be entirely rational in not saving and investing as much as financial planners traditionally recommend.

Theres another reason why its not necessarily irrational for parents to work less after their kids leave home: Leisure time when youre younger can be more valuable than the equivalent amount of leisure time when youre much older. A retiree in her late 60s might very well enjoy travel a lot more than when shes in her 80s, for example.

These all are highly personal considerations, of course. But what would be irrational is for you to base your retirement financial security on the assumption that your savings rate and investments will rise significantly after your children become financially independentand then not to follow through. In that event youre setting yourself up for a rude awakening once you do retire.

The key, in other words, is to be realistic. If you want to work, save and invest less after your kids become financially independent, then make sure that is accurately reflected in your retirement financial plan.

Mark Hulbert is a regular contributor to MarketWatch. His Hulbert Ratings tracks investment newsletters that pay a flat fee to be audited. He can be reached at mark@hulbertratings.com.

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What happens when the kids leave home? - MarketWatch

SAN FRANCISCO--(BUSINESS WIRE)--Three out of four U.S. workers (75%) are facing at least one source of major financial stress1 and more than half (51%) felt more stressed about their finances in 2021 than ever before,2 according to new research published today by SoFi at Work a leading holistic, financial well-being and education assistance benefits Partner to more than 1,000 organizations and Workplace Intelligence, an HR research and advisory firm. As a result of this increased stress, employees are pivoting their personal and professional lives with some taking on second, part-time jobs (25%), while others opt to carry higher credit card debt (25%), or tap into retirement savings (19%)3 and employees are spending a weekly average of 9.2 hours4 on their personal finances, while at work.

But theres widespread optimism across the workforce that 2022 will be a year of positive change when it comes to personal finance progress, with more than 9/10 (91%) of employees confirming theyve committed to improving their financial well-being by setting financial goals for 2022.5 Perhaps even more important is the increased budget that 75% of employers plan to put toward financial well-being benefits programs within the next two years6 in order to ensure employees have the tools they need to reach those goals.

SoFi conducted the study which was based on 1,600 responses from 800 HR business leaders and 800 full-time employed workers from across industries, locations, and job types to understand what role financial well-being plays (or could play) in employees' work-life, and to help employers gauge how certain benefits such as employer contributions toward student loan debt, financial literacy tools, emergency savings account access, and more might impact the broader business and employee experience at their organizations.

The findings revealed that improving employees financial well-being could have a ripple effect in driving increased worker productivity (86%), desire to stay with their employer (86%), job satisfaction and engagement at work (84%), ability to focus (84%), as well as improved mental (84%) and physical (80%) health.7

The report also revealed less obvious, but equally impactful, areas where employers have an opportunity to provide more holistic financial well-being support for employees whether thats through comprehensive education assistance programs, or more cutting-edge integrations that employees across industries are expressing interest in like the option to receive performance rewards in the form of NFTs (42%) or be paid in cryptocurrency (36%).

Other key trends and supporting data points from the new report, The Future of Workplace Financial Well-Being, which can be downloaded here include:

SUPPORTING QUOTES

Todays business leaders are facing a daunting set of growing concerns around some of the biggest business challenges in recent history, like talent scarcity, increasing concerns around the impact of rising inflation on compensation (67%),8 and others, said Jennifer Nuckles, EVP and Group Business Unit Leader, SoFi. With this, its important to realize that there are other levers employers can and should pull to add value. One size does not fit all when it comes to financial well-being and financial education. The research we published today provides employers with actionable insights and forward-looking perspectives on employee expectations to help provide a roadmap for the future of workplace financial well-being.

Offering financial well-being benefits isnt just the right thing to do its also a critical way to boost employee engagement and productivity, said Dan Schawbel, Managing Partner, Workplace Intelligence. But peoples preferences are quickly evolving, and the companies who can adapt quickly are the ones that will come out on top in the war for talent.

METHODOLOGY

Research findings are based on a survey conducted by Workplace Intelligence and SoFi at Work in the U.S. between December 2129, 2021. For this survey, 1,600 HR leaders and employees were asked questions about financial well-being, financial literacy, and financial benefits. The study targeted full-time employees between 18 and 74 years of age. Respondents were invited to take part via email and were provided with a small monetary incentive for doing so.

ABOUT SOFI

SoFi (NASDAQ: SOFI) is an all-in-one digital personal finance company that helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our three and a half million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including access to career advisors and certified financial planners, as well as connection to a thriving community of ambitious people. SoFi owns and operates Galileo Financial Technologies, a platform bringing investment and lending products to the financial services ecosystem and its partners, and Technisys, a leading cloud-native, digital multi-product core banking platform, as independent companies. SoFi is a Bank Holding Company and operates its bank subsidiary as SoFi Bank, National Association. SoFi is the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

ABOUT WORKPLACE INTELLIGENCE

Workplace Intelligence, LLC is an HR research and advisory firm helping leaders adapt to trends, drive performance, and prepare for the future. Our mission is to create more intelligent workplaces using data-based insights. For more information go to our website and subscribe to our LinkedIn newsletter.

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Advisory services are offered through SoFi Wealth LLC, an SEC-Registered Investment Adviser. Information about SoFi Wealths advisory operations, services, and fees is set forth in SoFi Wealths current Form ADV Part 2 (Brochure), a copy of which is available upon request and at http://www.adviserinfo.sec.gov.

SoFi at Work is offered by Social Finance, Inc. SoFi loans are offered by SoFi Lending Corp. or an affiliate, licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). The Student Debt Navigator tool and 529 Savings and Selection tool are provided by SoFi Wealth LLC, an SEC-Registered Investment Adviser. For additional product-specific legal and licensing information, see SoFi.com/legal. 2750 E. Cottonwood Parkway #300 Cottonwood Heights, UT 84121.

2022 Social Finance, Inc. All rights reserved. Information as of April 2022 and is subject to change.

Social Finance Inc. values your privacy and the security of your personal information so please do not include your Social Security number in any email or letter that you send to us.

Social Finance Inc. 234 1st St., San Francisco, CA 94105

1,2,3,4,5,6,7 The Future of Workplace Financial Well-Being, SoFi at Work, March 20228 Cost of Living Adjustment (COLA) Survey, Salary.com, March 2022

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SoFi at Work Study Reveals Three in Four Workers Are Stressed About Financial Issues, Spending 9+ Working Hours Per Week Dealing With Personal...

CEO Wes Paul discusses real American success story as an inspiration and blueprint for others

FT. LAUDERDALE, Fla., March 28, 2022 /PRNewswire/ -- Blueprint Mastermind began releasing episodes of a new serial podcast to support its ongoing mission to help educate and provide clients the tools needed to craft brighter financial futures. Speaking on various topics related to financial independence, Wes Paul explains how pursuing the American Dream starts with understanding how to build a solid credit foundation. Since Paul moved from being an out-of-work service employee to an educated financial professional with a thriving business in just three short years.

Wes Paul discussed his background and Blueprint Mastermind's educational goals:

"We hear all the time that financial success is about working hard and having a dream, then making that dream happen. And while that sounds great on a t-shirt, the reality is never that simple. America is still the land of opportunity, but two things are absolutely certain in this economy: If you're rich to begin with, most doors are already wide open to you. And if you're not rich, you have to open those doors up yourself. You do so in two ways: by cultivating relationships and getting a financial education. This is just one of the many topics we discuss on the podcast. We always try to keep the information real and accessible to our clients, because they absolutely need solutions they can leverage immediately."

"If you're going to teach people how to start walking the road toward some version of financial success, experience is the best guide. And I have plenty of it. Right before the pandemic, I worked as a server. I lived a little extra when I was single and I was accustomed to working hard, assisting customers; that was my life before, and it became my training ground. It paid my bills and helped keep me afloat. But then COVID-19 happened and our business basically closed laying me and many others off. I had about two grand left to my name and a new baby on the way. So, I was ultimately left without a choice. I had to take a risk and enroll myself in some financial literacy courses."

Story continues

Blueprint Mastermind: Financial Independence Starts with Education

"In just a few months, I learned how credit worked and started a business with friends and family as my first clients. I built a team of skilled folks who could offer a wider range of assistance, each providing their own special expertise. And over the course of three years, my very first company, "Uptrend Credit Solutions," was born.

"My team is the heart of it: I could never have made it without them. But though the journey was tough, I ended that startup year with a total of 1000 clients and sales in excess of $500,000 which was amazing. There were times when I felt despair because I had to repeatedly fail just to see how success works. But as my business started building momentum, I started generating new leads and formulating an overarching business strategy. My life is now completely transformed all due to the power of financial education and relationships. These are the types of skills I routinely provide to my clients and discuss during the podcast."

For the latest strategies and free tips on credit-repair, or updates on new podcasts and products as they are released, follow Uptrend on social media: Facebook, Instagram, YouTube, LinkedIn.

About Uptrend Credit Solutions

Uptrend is transitioning to become a fintech platform that specializes in providing in-depth credit monitoring and education to help underserved individuals and communities understand their options. Uptrend has always believed that anyone can achieve financial freedom by leveraging credit, through the power of education and financial literacy. The path to a brighter financial future begins with good credit. Uptrend can help. Fully licensed, insured, and accredited by the BBB, learn more at: http://www.UptrendCredit.com.

Although the first business that I created was Uptrend Credit Solutions and Uptrend business, I have always thought to create a worldwide blueprint organization which focuses on financial literacy; to become a role model for people like me that even with empty pockets, I was able to build my business. I wanted to create a space in which people can connect and create inspiration by sharing their personal blueprint.

Media Contact: Wes Paul, CEO and Founder+1 (833) 425-0355 x110 332190@email4pr.com

Cision

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SOURCE Uptrend Credit Solutions

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Blueprint Mastermind Presents New Educational Podcast as Part of Ongoing Mission to Help Clients Build Financial Literacy Foundation - Yahoo Finance

Okay, its true. Theres a magic number that can help you achieve financial independence, and even quit your job to retire early. But its not what you think.

Youll sometimes see numbers thrown around of how much you need to retire comfortably. A million. Two million. Three, just to be sure. Wanting to retire early? Better make it four million, so that you dont ever run out. Sure, why not?

Except Im not an Auckland home. Im just not worth that much, and I dont know if I ever will be. Am I going to let that stop me working towards financial independence? No.

Because all of those goal numbers are irrelevant. Theyre not the magic number that will actually help us.

Whats important is not a dollar figure that we can pretend applies to everyone. One size does not fit all when it comes to money. Instead, what we want is a plan snugly fitted to you and your life, goals and values. Something that gives you what you need, what makes you happy, and doesnt waste your time on anything more.

READ: Financial Strategist Hannah McQueen On How To Save Money The Smart Way

So if you want financial independence, the first thing you need to think about is what you want in life. Then you need to do just the smallest, simplest bit of maths.

How much does it cost you to keep a roof over your head? What are the things in your life that make you truly content, and how much does it cost to keep them in your life? Most importantly, what do these things cost you in a year?

This is the magic number your own magic number, unique to you. Then just a little bit of maths. You multiply that yearly number by 25.

If you have a nest egg that size, invested into the right mix of shares and bonds, you should be able to live off it for decades.

You can take out four per cent of the nest egg each year, which gives you the yearly figure you added up before.

That 4 per cent of spending is the other magic number that makes everything work for you. Because your investments are still growing and working for you, you can pay for everything you need and want in a year, but you shouldnt run out of money for decades; if ever.

It sounds absurdly simple, doesnt it? Except the problem is, that 25x figure might look enormous. You might have quickly added up some numbers and decided that Im spinning a fairy tale that can never be achieved by normal people.

This is why we need to open up more options to make financial independence more achievable. When we focus back in on what needs to be paid for, and what really makes you happy, then we have wriggle room to make changes in a way that works for you.

Desperately hate your job, and want to be able to retire in just a few years? Youre probably ready to make more sacrifices, in order to make your magic number smaller and hit it sooner.

Earn quite a bit, or dont mind working towards a goal for longer? Then you can have a bigger end number in sight.

For those who want financial independence fast, the trick is deciding whats really important in your life and cutting everything else out. If your life doesnt cost much, then your 25x number wont be as big.

Dont forget, if the goal is to quit your job, that might also save you a bunch of money. You wont need work clothes, to pay for a commute, to buy lunch near the office.

READ: Co-Founder Of Sharesies Brooke Roberts On How To Grow Your Wealth

If you pull everything back to bare-bones basics, how much do you need then? Would living in a tiny house be worth it, to never have a boss again?

If you like the finer things in life, and dont mind waiting a bit longer, then you can keep the 25x number a little higher, knowing that youre working towards a goal thats a few decades away, but that will give you security when you eventually get there.

Or theres my personal favourite solution; working towards a 25x number that covers only the very basics in life, but planning to still earn money once you get there.

You could have the basics of food and shelter sorted, thanks to your investment nest egg, then work part-time, or in a job that doesnt pay much but is more satisfying, or start a business that may or may not work out.

It gives you the freedom to push for that work-life balance that everyone is always going on about. To find more satisfying and fulfilling ways to make money, or live a good life while working substantially less.

You have options because the basics of survival are taken care of, thanks to a financial independence plan thats tailored to you.Finding the magic number that fits your own life, goals and values is the key.

Frances Cooks new book Your Money, Your Future: The Realest Guide to Financial Freedom, published by Penguin, $35, is available now

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The Magic Number: How Much Money Do You Need To Design The Life You Want? - Viva - Viva NZ

* Mine says it is first in Africa with an all-female staff * Jobs offer a lifeline to rural women escaping violence

* Project also aims to champion women in mining By Farai Shawn Matiashe

KAROI, Zimbabwe, March 31 (Thomson Reuters Foundation) - At first glance the Zimbaqua mine in Zimbabwe looks normal: a series of shallow craters dotted with workers in overalls and hard hats toiling to unearth the treasures below. But a closer look reveals something unusual. In an industry dominated by men, everyone working to unearth prized aquamarine gems from the yellow soil is a woman.

"I no longer have to bother the father of my children because I am paying school fees for the two of my children who are in primary school," said Shupi Kabudura, 33, who became a miner after fleeing an abusive husband with her three children. "I also buy essentials such as clothes and food."

Kabudura is among about 25 women employed by Zimbaqua, which bills itself as the first mining firm in Africa to be staffed entirely by women. Many are forging a new life with each other's support after escaping abuse such as rape, domestic abuse or forced marriage.

About one in five Zimbabwean women said they had suffered violence from their partner in the previous year, found an official 2015 survey, and child marriage remains rife despite being outlawed by the Constitutional Court in 2016. Women in rural areas are often forced to remain in violent marriages because they rely on their husbands financially, said Rumbidzai Gwinji, a mine manager at Zimbaqua, which is located in the farming area of Karoi in northern Zimbabwe.

"This project has become a solution to women in such situations," she said. "It has given them choice over the environment and lifestyle they want for not only themselves, but also for their children."

OUTNUMBERED AND ABUSED Zimbaqua was opened in 2019 by Iver Rosenkrantz, a Danish gem expert who has lived in Africa for more than 15 years, and Zimbabwean Patrick Tendayi Zindoga.

"This (firm) came after realising that women are not given the same opportunity as men, especially in the mining sector," said Gwinji. Zimbaqua's workers dig for the mine's rich deposits of aquamarine, a pale blue to light green gem that is highly prized by jewellery designers and collectors around the world.

It is hard labour. The women use hammers to break up rocks and reveal the aquamarine, which is easily visible due to its bright colour shining out from the surrounding stone. In return, they get a decent salary equivalent to about $295 per month.

But they are outliers in an industry that is overwhelmingly staffed by men. Women make up about 10% https://www.pactworld.org/library/golden-opportunity-artisanal-and-small-scale-gold-mining-zimbabwe of the country's artisanal and small-scale miners, found a 2016 report by the Pact Institute, a Washington D.C.-based development nonprofit.

Neighbouring South Africa's mining industry has a similar gender disparity https://www.mineralscouncil.org.za/industry-news/publications/fact-sheets/send/3-fact-sheets/738-women-in-mining, although the number of women in the industry is growing. "Women are few in the mining industry due to challenges they face, including verbal abuse and labelling from male counterparts who believe they are of the weaker sex," said Kundai Chikonzo, founder of the Insiza Women In Mining Trust.

Men often do not allow their wives to work as miners, said Chikonzo, and women lack equal opportunities for promotions. Projects to get more women into the industry can improve women's prospects and boost the wider economy too, she added.

'SAFE HAVEN' Zimbaqua staff said their jobs had given them financial independence and new hope after they escaped abuse.

Miner Paidamoyo Kuronga, 21, said she had struggled to make ends meet as a single mother to a young daughter until she learned about opportunities at Zimbaqua. "I was so excited to get my first ever job," she said.

Now, she is considering returning to school for a mining-related course to further her career in the industry. Gwinji said the mine is working on plans for a daycare centre close to the mine for the children of employees.

New mothers working at Zimbaqua are given three months' maternity leave on full pay and get regular breastfeeding breaks when they return, she added. Workers at Zimbaqua said the mine not only had offered them a fresh start, but represents a beacon of hope for others hoping to escape domestic abuse.

"I know there are other women out there who are experiencing (gender-based violence). I hope our company will grow so that more women can come to this safe haven," said Kabudura.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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FEATURE-In Zimbabwe, a women-only gem mine gives abuse survivors new hope - Devdiscourse

Nicholas Moore with his mother, Wendy Johnston, who assists him with getting his messages out to the world.

For years while he was growing up in Warrenton, Nicholas G. Moore, who has autism, hardly spoke at all. His intelligence was hidden behind a wall of silence. Now, having discovered several methods of communication and melding them into one that works best for him, he is reaching out to autistic people and their parents to help them unlock their potential with his new business, Victorious People, LLC.

The business is hugely important to Moore, primarily because of his wish to help free others with autism to achieve what he refers to as Intentional Open Communication (IOC), or reliable communication with others. But it is also for himself, to achieve more financial independence.

My business is predicated on the fact that I have mastered self-advocacy and clearly become proficient at communication via typing. I believe every voice in our community needs to be heard and I intend to see that it is. For me, it is a passion and a mission, to bring these families closer to God and to free the voices of their sons and daughters.

(Editor's note: All quotes attributed to Nicholas G. Moore were spelled out on an alphabet board and relayed to the writer by his mother, Wendy Johnston.)

Successes and struggles

Moore was adamant this article be about successes, not struggles. But his struggles and overcoming them are what makes him what he is today and are important to the story. He explained, I spent 25 years in near silence being misunderstood and taken for a fool. When I was little, I was forced to live in silence not by people, but by fear. I was literally afraid to speak because nothing came out correctly. It felt to me as if a stranger had my throat. I developed a negative mindset that I could not speak. It was a devastating curse on my entire life.

Moore went to school, of course, but struggled as many with autism do. He attended C. Hunter Ritchie Elementary School, Marshall and Cedar Lee middle schools and Liberty High School. He learned fast but was frustrated by his inability to communicate. The school told my mother I couldnt be taught how to tell time. What they didnt know was I already knew. But I couldnt demonstrate it. They didnt give me a chance to show them my way, he said.

He continued, So, I suffered through the entire course of my education until one day when I was a teenager, a teacher named Carmen Fox was given me as a student. She saw a light in my eyes. And she knew I was in there. So, she proceeded to teach me. She found I could spell. I was the best speller in her class, even though I could barely speak. She was a lifesaver. She rescued me.

Community support

Moore also received support from others in the community. At about the age of 12, he aspired to become an athlete and worked with trainers at the Old Town Athletic Campus.

Cole Forsten embraced him as any other and thought outside the box to teach him to run, jump and sprint, said Wendy Johnston, Moore's mother.

He was a hero to me because he did not require me to talk, Moore added.

John Tanner, also then at OTAC, was another huge influence because, as Moore explained, He did not see me as disabled, but abled. He has always been a good friend.

The beginning of a new life

When Moore was 20, he attended a Special Olympics event that changed his life and his familys. He met a young man whose mother had trained in a method called Facilitated Communication (FC). They had coffee together, and she introduced Moore and his mother to this method of communication. Johnston said, I looked at the young man and said, Thank you. You have saved my son. And then he said, Thank you so much for meeting us. My mom needed a friend.

FC -- and similar methods called Spelling to Communicate (S2C) and Rapid Prompting Method (RPM) -- involve the autistic person spelling out messages by touching letters on a card or keyboard while their hands are steadied physically by a facilitator. Armed with this information, Moore and his family plunged ahead, and Moore, using a hybrid of the three methods, developed his own method of communication. He became proficient in spelling out messages that his mom would read. After 25 years, Johnston said, just by having the connection of my hand touching his, he was able to communicate with me and teach me about his whole life and about God.

The methods are not mainstream -- and are even discouraged -- in the commonplace treatment of autism due to studies strongly suggesting that responses are actually coming from the facilitator and not the autistic person. However, spelling on alphabet boards does have the support of hundreds of families around the globe, many of whom have found independence through typing. Moore said, The methods I learned have been largely discredited by professionals, but they dont ask us. We are the true experts.

However, noted Moore, spelling is not perfect. It is laborious, he said, to spell out each word of each thought. It is excruciating, and yet I need my voice to be heard. As autists, we are conceptual thinkers, not word thinkers. Concepts are large and vast. To hone them down to words is a huge act of willpower. To have to spell out every thought is challenging because they come so fast. It is maddening to have to wait for my mother to tell what Ive spelled out because I have so much more to say.

Forging ahead

Now, Moore has goals, primarily helping others with autism and helping to reduce the stigma they face. His business rates are reasonable, because sometimes autism treatment is cost-prohibitive, and Moore doesnt want any family to be broken by the inability to pay. He is not educated in the treatment of autism - as he said, I dont have a degree, I went to the school of hard knocks - but what he can do is use his own experiences, methods and successes to help other families.

I meet individually with each family and listen to their challenges. Then we teach them a bit about anxiety and motor control. From there we do a series of exercises to establish a baseline. And then make recommendations for a blueprint to success for each individual according to his or her unique situation, Moore explained.

He continued, We are a group of people with vast capabilities who are awaiting the key to unlock the prison doors to discover our voice, which has been locked away in silence. Helping someone unlock their own true voice is a huge gift to all.

Growing his mission

Moore has seven clients already -- some nonverbal, some partially verbal -- and is working seven days a week. He meets with clients both in person and virtually, and travels extensively within the U.S. to spread his message of helping all to find their voices.

I flew to Montana recently where I found a community willing and ready to embrace the communication challenges of their students. They have formed an autism center and they are working with me to add a communication training piece that is underwritten by grants and supported by donations. My hope is that I can do the same here in Warrenton, he said. I hope to invite everyone to embrace us as intelligent people that are no different from everyone else on the inside. We are all in the battle for our lives imprisoned by bodies that at times do not obey and are hampered by voices that at times do not convey our truest intentions.

Moore closed, My vision is for a worldwide network of hope to spring up out of nowhere and to rescue the lost voices around the globe. It all begins with me. That is my purpose in life. My vision is to first build a virtual community, and then an actual community in which autists can live, learn, and grow, and teach the world the truth about autism.

Website coming soon: thequietvoice.godaddysites.comIf you would like more information, write to Nicholas Moore at his business email: .(JavaScript must be enabled to view this email address)

This article originally appeared in the April 2022 issue of Warrenton Lifestyle. Read the full issue here.

Link:

'Victorious People:' Fauquier man helps members of the autistic community find their voice - Fauquier Now

Introducing a smart money app for families to the market, Woli has just raised 700k in a Seed round led by renowned fintech investors. Eleven Ventures leads the participation with prominent angels and entrepreneurs like Victor Trokoudes from Plum Fintech, Thanassis Sofianos from Relevance, and Hristo Borisov from Payhawk getting in on the action.

Based in Athens, Woli streamlines family money by offering an engaging and educational money app for kids. It gives parents a tool to automate allowance and offers absolute security and control. So, not only can parents have oversight over the account, but kids can start to get some financial independence and learn how to be financially responsible.

Across Europe, pocket money tends to still be in cash leaving kids and teens to manage their own money and set their own goals without digital support and without a debit card for ecommerce payments. In 2022, ecommerce payments and card payments are the standard, so without an account like Woli, teens are left behind.

Managing Partner at Eleven, Vassil Terziev said: While personal finance management for families has been a growing trend, children are participating in ever more cashless transactions, requiring that they be served with tailored financial products, adequate education and brand identity. We are very happy to welcome Vasilis and his team to Eleven, as Woli is taking on a mission to change how money management and financial education in the family works.

The young startup, founded in 2020, issues a colourful prepaid Mastercard tied to the childs account and enhances the child banking experience with unique modules such as financial literacy, quiz-based game, as well as a marketplace with relevant rewards and offers.

Woli is licensed as an e-money distributor from the Bank of Lithuania and grew past 1000 accounts in the first 3 months of its operation showing a clear market need for the service. Currently, the Woli app and card is only available in Greece, with Italy and Spain earmarked as the next markets.

The fresh funding will enable Woli to further expand its product offering, grow its team, and prepare for operation in new markets. The company is currently working on new features, such as financial literacy platform, smart saving goals, money gift cards from relatives, and a marketplace where teens will be able to access various rewards and products, such as vouchers for their beloved online gaming brands.

Woli CEO and founder Vasilis Zoupas said: We are extremely excited for the upcoming year. We have a challenging roadmap in place, with many features that extend way beyond fintech, and we aim to position Woli as one of the leading kid and teen neobank brands in Europe. To achieve this, we need to focus on growing our team with superstar talent and executing our strategy with efficiency and speed. Bringing such a great lineup of investors onboard is surely a major milestone on our mission.

Read the original here:

Athens-based Woli picks up 700k for its money app for families and plans European growth - EU-Startups

Natural gas supplies from Russia to Western Europe could be cut off unless a deal is reached following Russian demands that payments for its exports be made in roubles rather than euros or dollars. This demand was flatly turned down by a meeting of G7 energy ministers earlier this week.

Germany and Austria have both taken the first steps towards instituting gas rationing because of the potential halt in supplies. However, in a call late on Wednesday between German Chancellor Olaf Scholz and Russian President Vladimir Putin, there was an indication of a possible pullback.

According to German sources, Putin said payments could still be made in euros as long as they were made to the Gazprombank, which has been excluded from sanctions imposed by the US and the European Union.

On Monday, Putin had declared that henceforth payments for oil and gas should not be made in euro and dollars but in the Russian currency in an attempt to boost its value.

Under the sanctions imposed by the imperialist powers, the rouble has fallen sharply in value. But the Russian central bank is not able to use its reserves, estimated to be around $630 billion, to prop up the currency.

Money is still flowing into Russian bank accounts as a result of the payments for oil and gas, which have been excluded from the sanctions regime, but the increased euro and dollar holdings are effectively frozen once they have been made.

The Putin directive was aimed at pressuring foreign companies to buy the Russian currency and thereby step into the breach, at least partially, left by the ban on the activities of the Russian central bank.

The demand for rouble payments was flatly rejected by the G7 group of major capitalist powers as soon as it was issued. The aim is to press ahead with the drive to crash the Russian economy, in order to promote a social, economic and potentially a political crisis for the Putin regime.

Germanys economics and finance minister Robert Habeck said the Putin demand had been unanimously rejected and the group was prepared for all scenarios, including a possible halt to Russian energy supplies.

With the major powers having imposed sweeping sanctions on Russia, the world 12th largest economy, the G7 pronouncement reeked of hypocrisy as it invoked the sanctity of contracts as the basis for its decision.

Speaking after the meeting, which included representatives from the US, UK, France Canada, Italy, Germany and Japan, Habeck said: All G7 ministers totally agreed that [requiring payment in roubles] would be a clear and unilateral violation of existing contracts.

He then went on to reveal the motivation for the decision saying Putins move showed he has his back to the wall as sanctions were harming the Russian economy.

Russia hit back against the G7 decision with government officials declaring that it would not supply gas for free.

Kremlin spokesman Dmitry Peskov said: Payments will be accepted in roubles only. Companies need to understand the changed market situation, the absolutely new reality that has emerged amid the economic war waged on Russia.

The major European importers of natural gas have all invoked contract stipulations that payments be made in euros and dollars as the reason not to accede to the Russian demand.

The chief executive of Polands state-controlled gas company PGNiG, Pawel Majewski has said there is not much possibility of switching payments to the Russian energy company Gazprom to roubles. It is not the case that our counterparty can just freely change the means of making payments as it wishes, he said.

Even if companies did decide to try and comply with the Russian directive it is likely they would be hit with sanctions aimed at preventing the conversion of euros into roubles.

According to a French government official, President Macron told Putin in a call on Tuesday that it would not be possible for gas companies to make their payments in roubles. France was against such a move.

If Russia sticks to its demand, then gas supplies will start to be cut off. The Russian news agency Interfax has reported that officials from Gazprom, the government and the central bank will report to Putin today on how to organise payments in roubles.

The Russian government has implemented several measures to try to halt the fall of its currency, including ordering Russian brokerages not to allow foreign clients to sell securities, making it more difficult to sell the rouble. Exporters have also been told to sell 80 percent of their foreign currency revenues and buy roubles. But such measures can only make a marginal difference. Hence the move on gas payments.

The issue goes far beyond the conflict with Russia. The ability of the major imperialist powers to unilaterally null and void the foreign currency holdings of major countries overnight has cast a shadow over the entire global financial system. Its very foundations are being threatened.

This issue was the subject of a comment published yesterday by Financial Times columnist Martin Wolf entitled A new world of currency disorder looms.

Wolf noted that after the Russian default of 1998, Putin had hoped that by building up foreign currency reserves he would be able to guarantee financial independence. The current action against Russia is significant not only for Russia because a targeted demonetisation of the worlds most globalised currencies has big implications.

The weaponization of currencies had major consequences for those who fear being targeted, he wrote. Sanctions on Russias central bank are a shock. Who, governments ask, is next? What does it mean for our sovereignty?

Wolf warned that Western policymakers may find that by using these weapons they might damage themselves as the rest of the world tried to find ways of transacting and storing value that circumvent the currencies and financial markets of the US and its allies.

He noted that China was already attempting to do this. But he ruled out the prospect of China developing a new international monetary system based on its currency. Its financial system was underdeveloped and relatively closed and was very far from providing what sterling and the dollar provided in their heyday.

The future, Wolf concluded, was not a new global order but more disorder and future historians may view todays sanctions as another step on that journey.

Foreword to the German edition of David Norths Quarter Century of War

Johannes Stern, 5 October 2020

After three decades of US-led wars, the outbreak of a third world war, which would be fought with nuclear weapons, is an imminent and concrete danger.

See original here:

Conflict over Russian demand for payments in roubles - WSWS

Lets face it: standard school curriculum may prepare you to solve quadratic equations or recite the United States historical timeline. But, many practical skills are also severely undertaught.

Additionally, many other more personal skills such as emotional awareness and self-love are neglected inside traditional classrooms.

One Reddit user was particularly interested in womens points of view on this topic. This user asked the women of Reddit, What is something that every girl should know but is rarely taught? The takeaways range from financial practicality to knowing your worth.

Strategies for financial independence.

There is a great podcast I love called Shes On The Money. The episodes explain in easy-to-understand lingo stocks, shares, mortgages, and all that stuff.

MrsRobertShaw

As a guy, this is for sure something I will teach my future daughters. It is not boy stuff. It is sophisticated member of society stuff.

AweDaw76

It is okay to be rude if someone will not leave you alone. You do not owe anyone your time or energy.

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Women Share Things That Other Women Need To Know, But Are Never Really Taught - Chip Chick