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Retire Me Now Planning Made Simple

Tue, 07 Jan 2025 08:36:51 GMT

Given these findings, it’s clear that achieving a comfortable retirement requires careful planning, consistent saving and strategic investment decisions.

Here are key strategies to consider:

Parents educate your children early. Retirement savings early!
Make regular contributions, even if they are small, as they can accumulate significantly over time.
The older you get. Reduce your debt reduction. Less is more. Start selling and down sizing.
Consider paying off mortgages before retirement to decrease monthly expenses.
Consult with Xcapital28 for a personalized and tailored portfolio. Life consulting can help in creating a direct approach and maximize returns.
Contribute the maximum amount to retirement accounts like 401(k)s and individual retirement accounts (IRAs) to take full advantage of tax benefits Cash for pennies pledge account.
Diversify your portfolio across various asset and tax benefiting to reduce and mitigate risk. Include stocks, bonds, real estate and other alternative investments like art, which has seen has seen a 13.8% annualized return, surpassing the 10.2% from the S&P 500.
There is no such thing as and emergency fund. Just having access to funds creates no emergency way of thinking.
Learn how to cover unexpected expenses. This prevents the need to withdraw from retirement savings prematurely.
Pull equity much sooner before selling off assets

Money Pickle is the easiest way to consider hiring a matched financial advisor tailored to your specific goals. If you're ready to invest in the long-term financial well-being of you and your family, book a video call with a vetted professional committed to your growth today.

Book a call with a coach fromXCAPITAL28.

Opening Up a Roth Retirement Account is a Must

Tue, 07 Jan 2025 08:16:55 GMT

Retirement is a mandatory goal and should be added to your budget and for many Americans, achieving the ideal savings target remains elusive for many. The average American retiree had about $170,726 in retirement savings in 2023, Only 12% of retirees have achieved or exceeded this recommended savings amount.

A Bounced Check And No Retirement Savings Plan

Retirees report having no retirement savings. This lack of savings is attributed to various factors, including unplanned early retirement because of health issues and this includes medical debts and other expenses.

I want to highlight the poor education of not planning early. The challenges many face is immortality in the ego of being young. This seems to be such a lofty goal, with the majority of retirees falling well short of not planning. This situation underscores the need for more effective retirement planning and saving strategies customized to your lifestyle and spending.

65% of retirees stopped working earlier than planned, with health concerns being a major factor.
83% of retirees reported that inflation impacted their retirement savings, with many experiencing major financial set backs.
44% struggling to afford necessities like groceries, housing, utilities and medical expenses.
51% acknowledging their lack of sufficient preparation. Common regrets include a lack of understanding about retirement savings, poor money management before retirement and underestimating the amount needed for a comfortable retirement. Many retirees also wish they had been more aggressive with their investments earlier in life.
45% report a decline in their standard of living since retirement, leading to reduced spending on nonessential items like entertainment, travel and dining out. Spending on essentials such as groceries, gasoline and healthcare has increased, reflecting the impacts of inflation.

World - Tour de headlines

Wed, 13 Nov 2024 05:43:37 GMT

Angela Weiss/Getty Images

Kamala Harris conceded to Donald Trump . The vice president’s concession speech, delivered yesterday afternoon at Howard University in Washington, DC, hit both grateful and somber notes. She expressed optimism for the future, saying, “The light of America’s promise will always burn bright as long as we never give up and as long as we keep fighting.”

The Democratic nominee obliquely referenced the challenges she faced, reminding listeners that she had just 107 days to make her case to the American people and that she succeeded in at least one area where President-elect Trump failed: As she conceded, she said, “A fundamental principle of American democracy is that when we lose an election, we accept the results. That principle, as much as any other, distinguishes democracy from monarchy and tyranny, and anyone who seeks the public trust must honor it.”

World leaders reacted to the election . Messages of support for President-elect Donald Trump streamed in from around the globe on Wednesday. Israeli Prime Minister Benjamin Netanyahu and UK Prime Minister Keir Starmer were among the first to congratulate Trump on winning a second term in the White House, with the former saying the victory was “history’s greatest comeback.”

Kremlin spokesperson Dmitry Peskov said that President Vladimir Putin was not planning to call Trump and congratulate him, saying, “We are talking about an unfriendly country that is both directly and indirectly involved in the war against our state.” However, the Russian news outlet Verstka said that Putin congratulated the president-elect through “mutual friends.”

President Biden also congratulated Trump and invited him to a meeting at the White House.

Business leaders shared their feelings . Elon Musk, David Sacks, Marc Andreessen, Bill Ackman, and many of the president-elect’s other paladins were predictably effervescent yesterday as they celebrated his win on X. Jeff Bezos sent a glowing show of support, posting, “Big congratulations to our 45th and now 47th President on an extraordinary political comeback and decisive victory.”

Bezos has only tweeted twice since 2023, both times to praise Trump. Some of the president-elect’s opponents also sent messages of support: Mark Cuban congratulated Trump, saying, “You won fair and square.” Andrew Yang, a tech entrepreneur who ran in the 2020 Democratic presidential primary, said, “Defending democracy means accepting election results that don’t go your way.

Congrats to Donald Trump—I hope that he brings people and the country together.”—HVL

This investment is heating up

Wed, 13 Nov 2024 05:39:00 GMT

Presented By Frontieras

What’s hotter than burning coal? Not burning it.

Frontieras’ patented technology is creating a clean way to transform coal into hydrogen and several other valuable byproducts.

This is a $2.1t combined energy market opportunity . And here’s the big reason why you don’t want to miss it: If Frontieras can reach just 2% of the global coal market, there’s potential for a $1t valuation (about only eight companies in the world can claim that).

They’ve already raised $7m from investors, and they’re opening a new facility in West Virginia very soon.

Sounds like it’s time to join Frontieras as they bring their innovation across the country. Become a shareholder in the early stages while you still can .

Trump wins the election

Wed, 13 Nov 2024 05:36:06 GMT

Anna Moneymaker/Getty Images

The world’s richest man is set up to have an incredibly fruitful four years. Elon Musk spent nearly $130 million through his political action committee (PAC) to help elect Donald Trump and other Republicans this election cycle. In return, Trump has promised him a seat at the table.

The 2024 presidential campaign was the most expensive election in history, and no one showed up more than Musk, who formed his America PAC earlier this year and then publicly endorsed the GOP contender after he was shot at a Pennsylvania rally in July.

With control of X, Musk was able to flood the social site with disinformation about popular Republican talking points like election fraud and immigration.
The America PAC also funded Democrat impersonation campaigns on Facebook and through texts designed to target voters with messages that might persuade them to vote against Harris, according to 404 Media.

How could Musk cash in?

The biggest Musk win could come from the 47th president giving him unfettered access to regulatory bodies. Both Trump and Musk said during campaign stops that the tech mogul would be a government cost cutter in the second Trump administration. Without mentioning which specific departments he would trim funding for, Musk has promised he would cut $2 trillion from the federal budget.

Musk isn’t shy about advocating for his interests in Washington. He has said point blank that he would push to get autonomous vehicles on the road, a technology Tesla has invested heavily in. SpaceX already has government contracts worth more than $15 billion collectively, but Musk has complained a lot online about the Federal Aviation Administration’s limits on the company. He also owns X and Neuralink, which have received scrutiny from the FTC and the FDA, respectively.

There may be trouble ahead. While Trump has promised to put heavy tariffs on China, Tesla relies on its Shanghai factory for a significant percentage of its EV deliveries, and the new levies would hurt the car company’s bottom line. But the tariffs could also obliterate Tesla’s cheaper Chinese EV rivals, like BYD.—MM

Tour de headlines

Wed, 13 Nov 2024 05:27:00 GMT

JPMorgan is suing customers over “infinite money glitch.” It turns out that banks don’t just let people steal money from ATMs. JPMorgan filed lawsuits in three federal courts against customers who allegedly took thousands of dollars from machines by depositing bad checks and withdrawing funds in an illegal loophole that went viral on TikTok earlier this year. One Houston, TX, man owes JPMorgan nearly $300,000, the bank said.

Though the suits are civil, JPMorgan has referred cases to law enforcement and is still investigating thousands of other incidents across the US. The bank wants the stolen funds returned with interest.

Google weathered a bumpy quarter to beat earnings estimates . Google parent Alphabet reported Q3 earnings yesterday, besting analyst forecasts with over $88 billion in revenue, which sent the stock up in after-hours trading.

Google’s third quarter was full of challenges: It restructured teams to optimize for the AI race and faced multiple antitrust lawsuits, one of which found the company guilty of being an illegal search monopoly. But the tech giant appears no worse for wear thanks to increases in Cloud and YouTube ad revenue. In other earnings news, Chipotle missed expectations in its first report since CEO Brian Niccol defected to Starbucks.

TGI Fridays closed dozens of stores ahead of rumored bankruptcy . Like many chain restaurants, the spot where your entire high school would get dinner before going to the movies on a Friday night is having a tough go of it. TGI Fridays abruptly closed ~50 locations this week, CNN reported, as the casual chain known for its endless apps reportedly weighs bankruptcy. Fridays had 270 locations in the US at the beginning of the year but is down to 164 today amid competition from lower-cost restaurants and a mounting pile of debt. Red Lobster, Buca di Beppo, and other formerly popular casual dining chains have already filed for bankruptcy this year as consumers shift their spending habits to save money.—AE

The AI darling that’s at risk of being delisted

Wed, 13 Nov 2024 05:23:01 GMT

Super Micro, a leading hardware provider for Nvidia and other top AI players, is super flopping: The company’s stock buckled this week after announcing that auditor Ernst & Young resigned mid-job, worsening concerns about the accuracy of Super Micro’s finances.

Past its peak? For a time, Super Micro rode the generative AI boom even harder than Nvidia. It spiked 2,000% in the two years leading up to March, when it made it to the S&P 500. Since then, its market cap has collapsed from a high of nearly $70 billion to below $20 billion—with about $10 billion of that loss happening this week after EY’s resignation.

Charting the decline: Notorious short-seller Hindenburg Research alleged “accounting manipulation” at Super Micro in August, and the Wall Street Journal revealed a Justice Department probe into Super Micro in September.

Roasted: This week, EY questioned Super Micro’s “integrity and ethical values,” according to an SEC filing. The firm said it couldn’t trust the company’s self-reporting and wasn’t willing to associate with Super Micro’s financial statements. Super Micro knocked the decision and said addressing EY’s concerns wouldn’t change any previously reported earnings.

Looking ahead…the tech company has to file its overdue annual report by Nov. 16 or possibly get booted from the Nasdaq.—ML

Equity/Assets/Ownership Is The American Dream!

Wed, 13 Nov 2024 05:20:11 GMT

The Board game of life and the pursuit of becoming financially debt free.

M.B.D

Contrary to everything you’ve ever heard about higher education, the cost of going to college is slowly dropping. While eye-watering sticker price increases at top schools have stolen headlines and triggered a cacophony of grumblings about “the state of things,” the actual price students pay to get a bachelor’s degree has gone down over the last decade, according to a report released last week from the College Board.

The numbers: Once you factor in inflation and grants awarded to students, the average net cost of tuition and fees for an in-state freshman attending a four-year public university was $2,480 for the 2024–2025 school year—a 40% drop from $4,140 in 2014–2015.

About half of the students who graduated last year finished their degrees without debt, compared to two-fifths of graduates in 2013.

Private school tuition has declined by 12% in the last decade.

The average net price for a year of private college post-financial aid awards was around $16,510 this year, compared to $18,680 during the school year beginning in 2014.

What happened? With more colleges competing for a smaller pool of prospective students, schools have been forced to tamp down tuition. More state and federal funding flowing into universities following the 2008 financial crisis hasn’t hurt, either. Plus, many colleges got an extra Covid-era boost in funds.

Still not cheap

In an effort to avoid sounding like the Lucille Bluth banana meme , it’s important to note that, yes, college is still expensive. For every $1,000 spent by US households last year, $12 of it went to college tuition alone, according to a Bureau of Labor Statistics analysis. And these costs don’t include room and board or hidden costs like textbooks.

Bottom line: The report is a (dim and maybe flickering) ray of light in the gloomy narrative of unaffordable higher ed.—MM

America is now on the Move!

Wed, 13 Nov 2024 04:45:20 GMT

American voters have spoken and have selected their next president—now that the Republicans control the Senate, they are also controlling the house, the country’s powerful legislative chambers, the Senate and the House of Representatives, with big plans for American energy and policy changes for next year and beyond.

GOP House Speaker Mike Johnson said that his party would “probably” roll back the CHIPS and Science Act, a bipartisan 2022 law that has set aside $53 billion to companies producing semiconductors. Johnson, who made the comment in a central NY district that is receiving a new $100 billion Micron chip plant because of the law, walked it back and said the “CHIPS Act is not on the agenda for repeal.”

No incoming president has taken office without their party’s control of the House and Senate since George H.W. Bush in 1989. And that’s allowed them to enact hallmark legislation early into their terms—for instance, former President Trump’s tax cuts in 2017 and President Biden’s Inflation Reduction Act in 2022.

The Retirement of Pensions

Wed, 30 Oct 2024 16:54:58 GMT

Pensions were a touchstone of stable mid-20th-century employment, at a time when unions were strong and employers were eager to incentivize workers to stick around long enough to receive a company watch engraved with “for 30 years of service.”

But starting in the 1970s, the government began tightening regulations around pensions to ensure that companies wouldn’t default on their obligations to retired employees. Meanwhile, businesses realized the costliness of guaranteeing lifetime retirement payments.

In response, companies ditched pensions for 401(k)s, which rely on employee contributions often matched by the employer. This shifted the responsibilities and risks of retirement planning from employer to employee, but gave workers more flexibility as job hopping became the norm.

401(k) vs. pension

There’s pros and cons to both. While pensions guarantee a steady income stream, payments sometimes aren’t indexed by inflation, which can erode their value over time. On the flip side, 401(k)s are subject to market fluctuations and require financial literacy. Plus, the plans are often unavailable to non-white collar employees, leading to more inequality.

Is the status quo sustainable? BlackRock CEO and economist Larry Fink says no. He wrote to investors earlier this year, advocating for an overhaul of the retirement system to adapt to an aging America with longer life expectancies. He proposed bolstering retirement savings programs and floated the politically fraught idea of raising the retirement age.—

CA sues Exxon for billions over alleged recycling lies

Fri, 25 Oct 2024 01:50:56 GMT

Sergio Flores/Getty Images

California state officials filed a lawsuit against one of the world’s top oil giants yesterday, accusing Exxon Mobil of driving global pollution by running a “decades-long campaign of deception” that dramatically overstated the effectiveness of plastic recycling.

The suit seeks “multiple billions of dollars” in civil damages from Exxon Mobil—a main producer of the petrochemicals used to make single-use plastics—California Attorney General Rob Bonta said.

In response, an Exxon spokesperson said California “failed to act” on fixing the state’s recycling management, and “now they seek to blame others.” The spokesperson also said, “Instead of suing us, they could have worked with us to fix the problem and keep plastic out of landfills.”

It’s billed as first US effort to nail plastics for alleged trickery. Following an investigation into Exxon’s practices that took more than two years, Bonta alleges that the half-a-trillion-dollar company knowingly promoted the false promise that anything with the recycle symbol would be recycled if tossed properly, even though it knew this wasn’t possible. Only 5% of US plastic waste is actually recycled, per the environmental advocacy group Beyond Plastics.

The lawsuit alleges:

Exxon knew in the 1970s that recycling was too expensive to scale and that plastic waste would pile up, but it boosted petrochemical production anyway and continued to peddle recycling as a solution. That got everyone to buy more single-use plastic.
Exxon has strongly lobbied state and local officials in California (and elsewhere) against restricting or banning plastic production.
Currently, Exxon’s “advanced recycling” program is a “public relations stunt” that only recycles 8% of its plastic waste into new products. The rest is mostly turned into fuel.
Piggybacking off that …four environmental groups sued Exxon Mobil yesterday for allegedly breaking California’s nuisance and unfair competition laws (violations also asserted in Bonta’s case).
Environmental lawsuits . California already sued Exxon and four other big oil companies last year for allegedly spreading climate change denialism. More than two dozen states and local governments are pursuing similar lawsuits.—ML

Do you know about the Bitcoin Mini?

Sat, 19 Oct 2024 03:52:43 GMT

Presented by Grayscale Investments

Grayscale Bitcoin Mini Trust (“BTC”), an exchange-traded product, is not registered under the Investment Company Act of 1940 (or the ’40 Act) and therefore is not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.

Grayscale Bitcoin Mini Trust, aka the Bitcoin Mini ( ticker: BTC ), is one of the lowest-cost* ways to gain exposure to Bitcoin directly through your existing brokerage or retirement account, the same way you would invest in any other stock or ETF (though brokerage fees may still apply). That’s right—you don’t need a separate crypto wallet or account on a crypto exchange!

Simply search “BTC” on your preferred trading platform or click here to learn more.

Grayscale has been offering exposure to crypto through investment products for over a decade. Today, they offer a suite of over a dozen different funds covering Solana, Filecoin, Chainlink, and others for investors to choose from.

Tech News

Sat, 19 Oct 2024 03:49:51 GMT

ASML, the leading supplier of vital semiconductor equipment, lowered its 2025 sales expectations Tuesday, triggering a sell-off in the sector and combined market value losses for US and Asian markets of about $420 billion.

What happened : ASML said in its earnings report that it received less than half of its expected equipment bookings last quarter.

The Netherlands-based company is a vital part of the semiconductor supply chain. In one case, it’s the only company that makes and services a specialized chipmaking machine.

ASML is the only source of the ultraviolet lithography (EUV) machine, which can make powerful chips to run AI programs and smartphones. It’s considered one of the most complicated devices ever made, costing around $200 million.
It also produces a deep ultraviolet lithography (DUV) machine, which was cutting-edge before the EUV machine showed up and is still important. Two other companies also make them.

AI was supposed to save the chips

Investors expected the artificial intelligence boom to drive up demand for chips and the machinery needed to make them. But it wasn’t enough to counteract the lag from the automotive and industrial sectors. Plus, some of ASML’s biggest customers, like Intel and Samsung, have seen disappointing sales in recent quarters.

The China market is about to dry up . ASML never sold China its EUV machines, but now new export restrictions will limit sales of DUV machines.

In its Q2 earnings report, ASML said 49% of its sales came from China, likely because companies wanted to snap up DUV machines before the restrictions were enacted.

Bottom line : Even after the initial shock wears off, the problems facing ASML—and the rest of the chip industry—will likely linger.—MM

Auto News

Sat, 19 Oct 2024 03:48:33 GMT

The average amount owed on “upside down” auto loans, in which the balance is more than the car is worth, hit a record high of $6,458 in the third quarter, according to Edmunds, a site that helps consumers research and buy cars. That’s compared to $5,808 for the same period last year. “Consumers owing a grand or two more than their cars are worth isn’t the end of the world, but seeing such a notable share of individuals affected at the $10,000 or even $15,000 level is nothing short of alarming,” Edmunds Head of Insights Jessica Caldwell said. If borrowers don’t pay off their car before trading it in, the negative equity is applied to the new car loan.—HVL

This haunts many Americans. There is a upside when dealing with negative equity. XCAPITAL offers great solutions for dealing with negative auto loans.Get Started Today!

Walmart News

Sat, 19 Oct 2024 03:46:30 GMT

Elite matcha at Walmart prices. Matcha Made has hit the shelves at Walmart. The perfectly portioned sticks come in both strawberry and vanilla blends, made from organic Japanese ceremonial-grade matcha and naturally sweetened with coconut sugar. No fancy equipment needed—recreate that café-style matcha experience at home or on the go for less than $1 per cup.

Boeing is reportedly looking to raise up to $25 billion by selling stocks and bonds to help it survive the ongoing machinist strike and production issues.
Instagram rolled out a new feature that allows users to share what are essentially digital business cards, TechCrunch reported.
Australia plans to ban dynamic pricing, aka ticket prices that change with demand, with Prime Minister Anthony Albanese calling it a “dodgy” practice.
Mark Robinson , the Republican lieutenant governor of North Carolina who’s running to be the state’s governor, is suing CNN over an article it published linking him to extreme and bizarre comments on a porn site, alleging that he didn’t make the comments.
BOS Nations FC will be the unusual name for Boston’s new pro women’s soccer team.

Walgreens Will Close 14% of US Stores

Sat, 19 Oct 2024 03:44:26 GMT

First they locked up your moisturizer, and now they are taking it away for good. Yesterday, Walgreens said it will close 1,200 US stores, about one in seven locations, by 2027. The retailer will shutter 500 stores by the end of next year.

CEO Tim Wentworth has spent his first year at the company implementing a turnaround plan that includes a hard pivot away from his predecessor’s investments in primary care clinics and foregoing expensive leases. But it’s not just Walgreens—business is rough for rival chains that also sell Maybelline, Mucinex, and Monster energy drinks.

Rite-Aid said it would close 800 stores as part of its Chapter 11 bankruptcy filing last October.
CVS announced earlier this month it would cut an additional 2,900 jobs on top of the 5,000 it cut last year.

The widespread closures could push even more rural and minority communities into “pharmacy deserts.” Roughly 46% of US counties had a pharmacy desert, or a populated area 10+ miles from a retail pharmacy, according to the Journal of the American Medical Association.

Big picture : Drugstores have pinned their struggles on the rise of online retailers like Amazon and population decline. But an FTC report also lays some blame on the three giant pharmacy benefits managers—companies that act as middlemen to negotiate drug prices—for “squeezing” pharmacies by lowering reimbursement rates.—MM

Goldman Sachs News

Sat, 19 Oct 2024 03:42:33 GMT

Goldman Sachs’ profit jumped 45% in monster quarter.

The investment bank made $3 billion of profit on revenue of nearly $13 billion in Q3, it reported yesterday, surpassing even the rosiest of expectations. Bloomberg reported that it was the best quarter ever for Goldman’s stock trading unit, putting the group on track for a record year. And it wasn’t just Goldman: Bank of America, Citigroup, and JPMorgan Chase all beat forecasts, largely thanks to gains in trading revenue. Executives credited optimism around the US economy, along with the Fed’s interest rate cuts being likely to encourage more dealmaking.—AE

US tells Israel to let more aid trucks into Gaza.

In a letter to the Israeli government sent this week, the Biden administration said Israel has to “reverse the downward humanitarian trajectory” in Gaza or risk losing US military aid. US leaders warned of “implications” for future weapons supplied to Israel if the country doesn’t boost aid truck crossings in Gaza and facilitate other aid, including allowing the Red Cross to visit Palestinian detainees in Israel who are reportedly being abused. The US gave Israel 30 days to stop obstructing aid crossings and “demonstrate a sustained commitment” to halting the humanitarian crisis. Following two weeks with no aid truck crossings, some US officials fear that many people in northern Gaza could die of starvation within the week.—ML

Starbucks is scaling back discounts.

The coffee giant’s new head honcho, Brian Niccol, aka “the LeBron James of CEOs,” just blocked your next cheap iced caramel macchiato like he was chasing down Andre Iguodala in Game 7 of the 2016 NBA Finals. Under Niccol, Starbucks is reportedly pivoting from discounts and promotions to refocus on selling premium coffee and seasonal drinks. Starbucks and other food chains began offering discounts earlier this year to attract cash-strapped customers, but with inflation easing, expect many of these promotions to end. Niccol also said the discount cutback will reduce strain on workers, who are often overwhelmed when the company offers coffee and a breakfast sandwich for $6.—AE

Now Leasing: Apartments in Goldman’s Old HQ

Sat, 19 Oct 2024 03:40:04 GMT

Joe Woolhead/Silverstein Properties

If you can’t live like an industry titan, you can at least live where the industry titans used to work. Goldman Sachs’s old headquarters in NYC, now an apartment building, opened its leasing office yesterday, welcoming its first tenants to the light-filled rental units.

Silverstein Properties and Metro Loft bought the office tower last year and expect all 571 units to be complete by the middle of 2025, according to Bloomberg. Studio apartments are priced at $4,000 a month, with three-bedrooms at $10,000. The former bank headquarters at 55 Broad Street is the latest converted property in New York City as savvy developers look to use old, vacant buildings in a work-from-home world that’s left many offices and downtowns shuttered.

Why convert? To save money. Metro Loft CEO Nathan Berman estimates that when finished, the property conversion will cost roughly 60% of a wholly new apartment building. It also skirts the arduous permitting process required for new construction.

In New York, it’s gaining steam. A recent study found that office-to-residential conversion deals accounted for half of all development sales in Manhattan for the first half of this year.

Still, not all developers are cuckoo for converted real estate. It can be a headache—some buildings are easier to convert than others—and the pressures of dealing with zoning and regulations often make it difficult to secure financing.—CC

EV For General Motors

Sat, 19 Oct 2024 03:39:11 GMT

For General Motors to succeed in meeting its EV transition target by 2035, they’ll need 414,469 tons of lithium per year. That’s why the automaking behemoth led a $50m investment round for lithium extraction startup EnergyX.

Their patented tech extracts lithium 300% more efficiently than conventional methods. Plus, where modern methods take 12+ months, EnergyX needs just two days . That’s why EnergyX has been entrusted with the rights to 100,000+ acres of lithium-rich Chilean land and a $5m DOE grant toward a recently announced US lithium plant.

It’s not just cars that need batteries, either. The entire $546b energy storage market will depend on securing reliable sources of lithium. EnergyX’s plan to produce 65,000 tons per year will help them lead the charge. However, EnergyX is only accepting shareholders until Oct. 3 .

US moves to ban cars with Chinese tech

Sat, 19 Oct 2024 03:38:08 GMT

Anna Kim

Americans won’t be able to use the foreign-hackers-tampered-with-my-car excuse when pulled over for speeding. The US plans to ban cars with Chinese software on national security grounds, the Biden administration announced yesterday.

The Commerce Department said that the proposed rule—which would all but guarantee that Chinese auto brands will never become household names in the US—would be for safety reasons rather than economic competition. Officials believe the Chinese government could use smart cars to track Americans’ movement or cause road mayhem through cyber sabotage.

Do not enter, Chinese cars

The proposed rule applies to all vehicles on public roads, including trucks and buses, that are connected to the internet or navigation systems—i.e., most modern cars and all autonomous vehicles. The measure would also outlaw cars with Russian software, as well as hardware parts from China or Russia.

While Chinese vehicles are currently even rarer than clean bathrooms on American roads, the software ban is future-looking and would go into effect for 2027 models.

The hardware parts, used by some non-Chinese car brands, will be prohibited starting with 2030 models.

On the economic front…the US recently quadrupled tariffs on Chinese EVs to 100% in order to protect American automakers from what US officials claim are unfairly subsidized cars.—SK

AI Update

Sat, 19 Oct 2024 03:37:13 GMT

In a shock to the system, a billion-dollar Silicon Valley darling led by the former head of Silicon Valley’s most prestigious venture capital firm has decided that it’s time to make some money. OpenAI, the maker of ChatGPT and harbinger of AI’s world dominance, is restructuring from a nonprofit model to a for-profit model. OpenAI started as a nonprofit in 2015 and later created a for-profit subsidiary. It long touted its non-profit status as a way to achieve its goals for “advanced digital intelligence” while remaining “unconstrained by a need to generate financial return.” With the proposed change, that all goes out the window, as the board will move into a minority ownership position and will relinquish full control to CEO Sam Altman.

Why make the change? “Nonprofit” isn’t an attractive label to investors who look exclusively for profit. Changing the structure opens the company to more investment: It reportedly received a fresh influx of $6.5 billion in VC money, putting its valuation at $150 billion. And speaking of billions…the new structure would also give Altman an equity stake—something he previously eschewed because he “loved” what he did—rumored to be 7%, or roughly $10 billion. That would make him one of the

richest people in the world. But money won’t solve all of its problems. So many main characters are leaving. OpenAI that it's starting to feel like Edmure Tully’s wedding.

This week, three leadership figures announced they were leaving: CTO Mira Murati, CRO Bob McGrew, and research VP Barret Zoph.
Earlier this year, several engineers and researchers quit over concerns about what they saw as OpenAI’s prioritization of money instead of safety.
Of the 11 people who founded the company, just two remain: Altman and one other computer scientist.

Zoom out: Some experts see the restructuring as a response to the events of late last year, when the nonprofit board ousted Altman for a few days after it lost confidence in his leadership, and then, at the behest of its biggest investor (Microsoft), brought him back.—CC

How one US startup is rewriting energy’s future

Sat, 19 Oct 2024 03:36:12 GMT

Presented By EnergyX

When America sets its mind to something, it gets it done. Recently, America set its mind on bringing lithium production and industry back within its borders. Rather than depend on China, which processes 70%–80% of the precious metal, the US is counting on companies like EnergyX to get the most of the third-largest lithium reserves in the world. EnergyX’s patented tech extracts lithium 300% more efficiently than conventional methods. Plus, where those take 12+ months, EnergyX needs just two days. They already received a $5m DOE grant toward a recently announced US lithium plant aiming to produce 5x as much as any current plant.

Now, EnergyX is working toward 65k total tons of lithium/year—66% more than the current top-producing company. Join EnergyX as an early investor before their raise closes on Oct. 3.

Prime number: Here’s $2.7b, please come back

Sat, 19 Oct 2024 03:35:01 GMT

Justin Sullivan/Getty Images

Paying $2.7 billion to rehire one (1) single human person is not going to help Big Tech beat the “spends too much on artificial intelligence” allegations. Per the Wall Street Journal, Google shelled out the ungodly sum to bring back AI whiz Noam Shazeer, who quit the tech giant in 2021 after it refused to publicly release his chatbot. Officially, the payment was to license technology from Shazeer’s startup, Character.AI, but unofficially, the real motive was to make Shazeer a Google employee again, the WSJ reported. Thanks to his stake in the startup, he’s reportedly making hundreds of millions of dollars to rejoin his former employer. So next time you swear never to work somewhere again, remember that there’s a nonzero chance they will pay you almost $3b to return (if you are an AI genius).—AE

Can Costco Solve CA’s Housing Crisis?

Sat, 19 Oct 2024 03:32:45 GMT

A lucky bunch of Californians will soon live a mere elevator ride away from the emporium where they can snag a $1.50 hotdog-soda combo and a 12-pack of ketchup in one run. Construction began this week on South LA’s first Costco, and in an unusual twist, it’ll come with a bulk order of apartments towering overhead.

It’s the first-ever apartment complex with a Costco on the ground floor.

The residential–retail symbiosis—in which the flats complement the 185,000-square-foot warehouse store—is also the first building project to take advantage of a recent state law meant to expand California’s notoriously deficient housing supply. Costco bypassed some of the approval rules for commercial development by partnering with the housing developer Thrive Living, which will build apartments on top of the warehouse store.

The condo will have 800 units, 23% of which will be designated for low-income households, as well as a rooftop pool, basketball court, and community gardens.

The Costco location will have a pharmacy and an optics store and is expected to bring 400 jobs to the neighborhood—an area the leader of one local nonprofit called a food desert.

But the relative crampedness of the apartments, which measure from 350 to 605 square feet, had at least one observer (lovingly) comparing the living community to “a Costco Prison.” So, let’s deconstruct how government rules influenced the project’s blueprint and see whether living above a Costco can help solve a housing crisis.

Regulatory gymnastics

Building a jumbo store in California normally involves going through nine circles of Hell an extensive regulatory approval process, entailing a lengthy environmental review under the California Environmental Quality Act, which opponents of new developments often use to kill projects.

But a state law, Assembly Bill 2011, that went into effect last year exempts some mixed-use developments with affordable housing from going through CEQA, allowing Costco and Thrive Living to proceed without some major bureaucratic steps and potential lawsuits from neighbors.

In order to take advantage of the law and zoning exemptions, the development had to meet specific requirements:

Two-thirds of the five-acre land tract it will sit on had to be devoted to housing, with a portion of the apartments offered at lower-than-market-rate rent.

The construction workers on site had to be paid a wage commensurate with what union workers make in the area.

These stipulations may explain the large size of the development versus the modest size of the dwellings. To cut costs and accelerate construction, Thrive Living opted for a prefabricated modular design for the apartments so they could be manufactured offsite (and avoid some of the labor wage requirement). That means they have to be small enough to be loaded on a truck for final assembly above the Costco, housing activist Joseph Cohen May explained on X.

Yimby Victory

While it’s a win-win for Costco and the apartment builder—whose units are expected to be more desirable due to the beloved retailer anchoring the site—the development’s biggest champions are housing activists.

They’re celebrating the partnership as a model for building residences in dense urban areas while navigating California’s complex construction regulations, which they blame for a chronic housing shortage and off-the-charts home prices. Los Angeles is short 270,000 affordable housing units, according to one nonprofit, while the median home price in the city is $1.2 million, per Realtor.com.

If the Costco apartments are commercially successful, it could pave the way for other developers to collaborate with retailers in a mutually beneficial arrangement. The discount grocer Aldi is already following a similar path to Costco, with housing being developed on the same site as new stores in several states.

Zoom out: A lack of affordable housing isn’t just a California problem. Both candidates in the presidential election have promised to spur home construction to make housing more affordable. But some think tackling the issue might take more than private partnerships. Rep. Alexandria Ocasio-Cortez and Sen. Tina Smith of Minnesota introduced a longshot bill this week to create a $30 billion development agency that would finance the construction of noncommercial affordable housing run by nonprofits for low-income residents.—SK

Tips for Paying Bad Debt

Sat, 19 Oct 2024 03:30:42 GMT

All Thoughts Are My Own

By Xavier Gomes, Founder of Bad Debt Money Management

Paying down bad debt is a serious undertaking, considering essential needs to run a family's home. However, with the right coach we can succeed and plan, you can lay the foundation to get started today.

1. Start with a budget

Anytime you want to make a financial move, like paying down debt, buying a house or starting to invest, you need to start with a budget. Your budget accounts for all of the money coming in and going out each month. A good budget can help you make informed decisions as you create a realistic debt pay off plan. Try this creating and excel spreadsheet to help you get started.

The first step of creating a budget is to look at your income. Make a list of every income source, no matter how big or small, including income from unemployment and any side hustles you may have.

After you have a good understanding of your income, evaluate your expenses. There are some fixed expenses that you can easily plan for, such as mortgage, insurance, childcare, and internet service. Variable expenses, like grocery costs, fuel, entertainment, clothing, and medical expenses can change monthly. These are more difficult to plan for, but you can look back at credit card and bank statements to get a good idea of what you spend on average.

Next, make a list of non-essential spending and expenses you can reduce. Can you find a cheaper cell service? If you’re still paying for cable, it might be time to cut the cord.

To pay off debt, you need to find a balance between paying your monthly bills and finding extra money in your budget to put towards your bad debt. Any extra amount of money you can put towards your retirement account. Learn how we create a friendly tax free environment.

2. Set a debt payoff goal you can achieve

Setting a realistic and achievable financial goal is important. We all need to be gentle with ourselves and that extends to finances, too.

Don’t focus on the total amount of your debt. Instead, center your goal on what you can pay each month based on your current. Setting a goal of getting rid of bad debt and placing funds away for retirement. While looking towards your good debt each month sounds much more attainable than thinking about paying off $20,000 of debt. Use our three year debt management plan to help you determine your monthly payments and retirement timeline.

If there are changes to your income or expenses, on our plan. This will not impact your retirement plan and make sure to update your budget sheet and the goal remains the same each year. Your goals should not change.

3. Use a bad debt payoff strategy

The bad debt snowball effect becomes an avalanche. The payoff strategies that we lend to you is not a cut and paste method but effective no matter who you are. You have to pay off debt that is not serving you. The minimalist on all of your debts is not going to help. The difference is how you allocate extra money and manage debt..

The debt snowball method builds momentum by focusing on small, early wins. That sounds great but there is a better way. Stop looking for the debt with the smallest balance and put the extra funds towards your early retirement planning.

With the debt avalanche method, you put any extra money toward debt with the highest interest rate first. This can save you money on interest charges by eliminating high-interest rate balances. Once you’ve paid off the debt with the highest interest rate, you focus on the debt with the next highest rate.

Drop kick that method and learn a new art form of managing debt.

4. Factor in your student loans

If you have federal student loans, you’ve probably had to think about how you’ll fit those payments back into your budget. For those who have experienced job loss, there are income-driven repayment plans that are a lower amount based on your monthly income. You can also consider refinancing federal loans, but you will lose federal student loan protections. Private student loan borrowers have fewer options, so it’s likely you’re still making payments on any private student loans you have. You may want to look into student loan refinancing, which is when a private lender pays off your student loans and gives you a new loan with new terms. Student loan refinancing is ideal if you have private student loans, especially high-interest rate ones. Refinancing your student loans can save you a decent amount of money throughout your pay off, although the amount you save on refinancing will largely depend on your interest rate, which is based on credit score.

You can also consider extending your loan term to lower your monthly payment, but the downside is that you can seriously add to your debt. It’s worth researching the pros and cons to see what’s best for your financial situation.

5. Focus on your retirement funds

Why payoff debt? When the debt can be written off. We can show how I made one major move to become debt free – I didn’t have an emergency fund when you have a solid retirement account.

An emergency fund protects you from debt. No! All emergencies are not debts how you pay for unexpected expenses, job loss, pay cuts, and more. It can help prevent you from taking on more debt when an unexpected expense pops up. And it’s never too late to start a retirement fund.

The new rule of thumb is that 3-6 months’ is not enough. Two million is not enough for retirement with new expenses and inflation. Consider focusing on your retirement domestic protection plan.

6. Consider a balance transfer card

A balance transfer card can be a useful tool if you’re trying to attack your high-interest rate credit card debt. Balance transfer cards have low to 0% interest rate promotional periods that give you a chance to pay off your debt at a much lower rate.

The final word on paying down bad debt

Making a plan to pay off bad debt is an excellent goal, but this requires discipline. If something happens along the way and you need to adjust your strategy we have plan for that.

Debt Management

Sat, 19 Oct 2024 03:27:50 GMT

Debt management requires planning ahead and discipline and is a serious undertaking, and the return of inflation, layoffs, medical bills, gas, groceries and taxes has added another degree of difficulty for many. However, this is why having a solid budget, you can begin planning a solid foundation for your family and loved ones. It is not a question of if it is when the debt storm shows up at your door. I often hear individuals speaking of becoming rich or creating generational wealth but never speak of how to maintain it and trust is not the answer. A trust is within the pyramid but you are the rock that this will be built on.

1. Start with Housekeeping

The number one and popular approach is to start with a budget. Let's live outside the book for a second. We all have budgets, I can remember being a kid and adding up the cost of snacks with what i had in my pocket and getting to the register and did not consider the tax. The store owner would either allow me to pay later, waive or place it back on the shelf. This often happens in our daily lives but as adults the burden of kids or shelter is a bigger responsibility than the price for a pack of cookies. As adults we often start off by doing the right thing and than life tosses us a curveball. This is where preventative maintenance and planning ahead helps. We plan for today and not tomorrow. We plan budgets as if we are not going to live beyond our current age. It is said that we are living above our means and beginning to go beyond what our budgets will allow and there are many reasons for this. The press does not speak about it. I will! The city you live in has outgrown you and your wallet. The apartment you have has now increased your rent. What do you do? You set a budget based on your expenses and now this has changed. Anytime you want to make a financial move, like paying down debt, buying a house, starting a business, or saving toward your retirement. The budget changes because others around you have changed it. Your budget accounts for all of the money coming in and going out each month. How do we now make informed decisions? It is as simple as planning your outcomes and negotiating with those who can impact your lifestyle. A realistic debt pay off plan is one approach but debt prevention is a better approach. Try this to help you get started. Look at apartments in your community and have them compete for your business. Lock your lease into your budget window. You can reclaim your deposit and stay without adding a moving cost to deduct from your savings.

We have a process for you.

After we have a good understanding of your income. The evaluation process for expenses. These are your fixed expenses such as mortgage, insurance, childcare, and internet service. What if I told you the evaluation can get your net income up to help you.Variable expenses, like grocery costs, fuel, entertainment, clothing, and medical expenses can change monthly. These are more difficult to plan for, but we can create ways to help back this with credit and savings to help increase your (LTV) loan to value and decrease your (DTI) debt to income ratio.

To pay off debt, your savings will do this and balance your life expenses, paying your monthly bills and finding extra money in your budget to put towards your debt. any extra money you create puts towards your debt.

2. Preventive Maintenance

Now that we have done some housekeeping, We can now maintain the house.

The American dream of starting a business from a product or service. Instead, start a family business and this is your goal. Here is a hint to why. Learn to live off the tax statement based on budget. Our proprietary system of doing this keeps more money for you towards retirement. This ecosystem we have built for a very few clients. I challenge anyone this is a bullet proof debt management planning. You don't need a trust for this and you do not need asset protection for this. This is about compliance and procedure to help you have good debt not bad debt. Debt that pays you not the debt you pay. This is better than Ai, This is Hii human intelligence.

3. Debt payoff strategy

The debt snowball and debt avalanche methods are examples of debt payoff strategies that can make effective use of the money you have to pay off debt. With both strategies, you’re making the minimum payments on all of your debts. The difference is how you allocate extra money.

The debt snowball method builds momentum by focusing on small, early wins. You find the debt with the smallest balance and put any extra funds towards paying off that debt first. Once your smallest debt is paid off, you move to the debt with the next smallest balance. Paying off a debt in full early on can keep you motivated as you start getting closer to attacking debts with bigger balances.

Either one of these strategies can be beneficial, although if you have high-interest rate credit card debt, the avalanche may save you more money. You can always start with one strategy and switch to the other to see which one works better for you. Remember, you’re making a dent in your debt anytime you are paying more than the minimum balance.

4. Factor in your student loans

The final word on paying down debt

Making a plan to pay off debt is an excellent goal, but be kind with yourself. If something happens along the way and you need to adjust your strategy, that’s okay. These tips can help you create a realistic plan that sets you up for success and fuels your motivation to keep moving forward.

$16.4 billion identities are stolen

Sat, 19 Oct 2024 03:24:47 GMT

Learn how to protect yourself. We have proven methods. This is only going to continue with online orders and upcoming holidays with retail shopping. We can create a ghost file for you and keep all your information private. The internet is a breeding ground for data breach, Target, Equifax and many others have learned hacking and AIi technology with GPS does not help.

Ms.Hayes and her husband were alerted while on vacation, a new credit card was issued. After checking her email. A notice from the U.S. Postal Service Informed Delivery program, which showed her all the names and cards bound for her home.

Ms. Hayes contacted Chase who reportedly attributed it to a glitch in the system and stopped the cards from being activated.

Their fraud department later followed up, but Hayes said they didn’t do much except make a note in their system and issue her a new account number. "With no explanation just, ‘we'll take care of it, we'll send you a new card, a new number,’" she said. “I wanted them to say, ‘we’ll investigate it.’”

In today’s digital world, data breaches involving personal identifiable information (PII) is becoming an inevitability.

In August 2024, USA Today reported that data broker, National Public Data, had more than two billion records stolen from their servers, including names, addresses, and Social Security numbers.

Data breaches aren’t the only way criminals can potentially access your information. Federal officials say some of the most common ways your personal information could end up in the wrong hands includes stolen wallets or purses, tax returns or bank statements plucked from the trash, information stolen through public Wi-Fi, or via “phishing” emails or texts.

When that information gets into the hands of bad-faith actors, it can quickly turn into a crime that only gets discovered after the fact.

According to the Department of Justice (DOJ), 23.9 million people were the victims of identity theft in 2021 alone, with more than half of them accounting for a total loss of $16.4 billion.

What’s worse, many of the victims didn’t find out until it was too late. In 2021, the DOJ reported that more than 25% of victims found out their personal information was breached only after a new account was already opened in their name.

Fortunately for Ms. Hayes’ situation, Chase issued an emailed statement to ABC7 News: "We monitor customer accounts for suspicious activity and promptly contact them if something unusual is detected. In this instance, our vigilant customer alerted us first. We closed the unauthorized cards, issued a new account and card, and apologized for the inconvenience caused during her vacation."

How to protect against identity theft & future attempts:

To further minimize the chances of becoming a victim of identity theft, authorities say you should check your credit report at least once per year. Change pin numbers. Hold mail while on vacation.

Everyone is entitled to a free copy of their report from all three credit bureaus at annualcreditreport.com.

To go a step further, the Consumer Financial Protection Bureau recommends putting a security freeze on your credit file at each of the agencies to prevent anyone from opening a new credit account in your name.

If you realize someone is attempting to commit identity theft using your information, the first step is to contact your financial institution where the fraud is happening.

Reporting the issue and locking down your credit card, debit card, or bank account from further attacks can help you recover your information faster.

The Federal Trade Commission (FTC) offers a tool that can help you report identity theft and walk you through a recovery plan. Consumers can find that tool at identitytheft.gov.

Boeing offers a 30% raise in an attempt to end the strike.

With 30,000 factory workers on strike and 737 production halted for a second week, the embattled aviation company offered to hike wages for union members higher than the original 25% increase over four years they voted to reject. Boeing gave the union until Friday to ratify the improved contract, which also offered a bigger ratification bonus and larger contributions to employee 401(k) plans. The International Association of Machinists, which negotiated the earlier deal that its members rejected, didn’t immediately weigh in on what Boeing called its “best and final” offer.—AR

The S&P 500 and the Dow set new records yesterday as investors kept the good vibes from the Fed’s big interest rate cut going while awaiting more economic data this week. Intel rose following reports that Apollo has offered it a multibillion-dollar investment and Qualcomm has approached it about a takeover.

Credit Education And How To Improve It!

Sat, 19 Oct 2024 03:22:24 GMT

Use of revolving credit accounts (e.g., credit cards, store cards, revolving lines of credit, etc.) factors heavily into a FICO® Score. FICO Scores evaluate the use of revolving credit in a variety of ways, including the percentage of available credit being used and how many accounts have a balance. Generally, consistently carrying lower revolving credit balances will factor positively into a FICO Score.

Note that even if you pay your credit card balances in full each month, your account balance won't necessarily show on your credit report as $0. Instead, your credit report will reflect the account balance reported to the credit bureau by the lender, which is typically the balance from your latest monthly statement.

FICO Score Ingredients impact: Amount of Debt (30% of a FICO Score); Length of Credit History (15% of a FICO Score).

Paying down a credit card balance reduces the percentage of available credit being used, which can positively affect a FICO Score.

How much a credit limit increase affects a FICO® Score depends on how much of a credit limit increase is given and the percentage of available revolving credit that is currently being used. A credit limit increase reduces the percentage of available credit being used, which can positively affect a FICO Score. Requesting a credit limit increase may also result in a credit inquiry, which can negatively affect a FICO Score.

FICO Score Ingredients impact: Amount of Debt (30% of a FICO Score); New Credit (10% of a FICO Score).

A credit limit increase reduces the percentage of available credit being used, which can positively affect a FICO Score.

Generally, applying for and obtaining new credit indicates greater credit risk and can affect a FICO® Score. How much of an impact seeking new credit has on a FICO Score depends on a variety of factors, including one's credit history and how many new accounts have recently been opened.

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score).

Bottom Line: Opening a new account indicates greater credit risk and can affect a FICO Score, so it's best to only apply for new credit as needed.

Your score will drop15 Points

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score); Amount of Debt (30% of a FICO Score); Credit Mix (10% of a FICO Score).

Opening new credit indicates greater credit risk and can affect a FICO

Consolidation

How a credit card balance transfer affects a FICO® Score depends on a variety of factors, including the size of the new credit line, which credit card balances are being transferred onto the new card, and whether those accounts are closed or kept open after the balances have been transferred. The new credit account (and possibly a credit inquiry) posting to the credit report can also affect a FICO Score.

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score); Amount of Debt (30% of a FICO Score); Credit Mix (10% of a FICO Score).

Opening new credit indicates greater credit risk and can affect a FICO Score.

Close down a credit card

Score may drop below 10 POINTS

Closing down a credit card account with a $0 balance will not have a positive impact on a FICO® Score. FICO Scores consider the percentage of available credit being used. Closing down a credit card account will likely reduce the total amount of available credit and increase the percentage of available credit being used, which can negatively affect a FICO Score. Closing down a credit card will likely have a greater impact on a FICO Score if the percentage of available credit being used is currently reported as low or moderate, and have less of an impact if the percentage of available credit being used is currently reported as high.

FICO Score Ingredients impact: Amount of Debt (30% of a FICO Score).

Closing down a credit card account will likely reduce the total amount of available credit and increase the percentage of available credit being used, which can have a negative impact on a FICO Score.

Max out all your credit cards

100 SIMULATED POINTS

Using close to the maximum amount of credit limits on credit cards can have a negative impact on a FICO® Score. Both FICO Scores and lenders consider being close to or at the limit of your available credit a high credit-risk behavior. Maxing out credit cards will likely have a greater impact on a FICO Score if the current balances are low or moderate relative to their credit limits, and less of an impact if the current balances are already high relative to their credit limits.

FICO Score Ingredients impact: Amount of Debt (30% of a FICO Score).

Carrying very high balances relative to their credit limits on revolving accounts can have a negative impact on a FICO Score.

Credit Limit Increases

FICO Score Ingredients impact: Amount of Debt (30% of a FICO Score); New Credit (10% of a FICO Score).

A credit limit increase reduces the percentage of available credit being used, which can positively affect a FICO Score.

Revolving Credit Card Accounts

FICO Score Ingredients impact: Amount of Debt (30% of a FICO Score); Length of Credit History (15% of a FICO Score).

Paying down a credit card balance reduces the percentage of available

Mortgage

Generally may drop below 20 Points

Generally, applying for and obtaining new credit indicates greater credit risk and can affect a FICO® Scores. How much of an impact taking out a mortgage has on a FICO Score depends on a variety of factors, including one's credit history and how many new accounts have recently been opened.

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score); Amount of Debt (30% of a FICO Score); Credit Mix (10% of a FICO Score).

Opening new credit indicates greater credit risk and can affect a FICO Score

Auto Loans10 Points

Generally, applying for and obtaining new credit indicates greater credit risk and can affect a FICO® Score. How much of an impact taking out an auto loan has on a FICO Score depends on a variety of factors, including one's credit history and how many new accounts have recently been opened.

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score); Amount of Debt (30% of a FICO Score); Credit Mix (10% of a FICO Score).

Bottom Line: Opening new credit indicates greater credit risk and can affect a FICO Score.

Take out a student loan

25 POINTS

Generally, applying for and obtaining new credit indicates greater credit risk and can affect a FICO® Score. How much of an impact taking out a student loan has on a FICO Score depends on a variety of factors, including one's credit history and how many new accounts have recently been opened.

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score); Amount of Debt (30% of a FICO Score); Credit Mix (10% of a FICO Score).

Applying for new credit indicates greater credit risk and can affect a FICO Score.

Personal Loans

20 Points

FICO Score Ingredients impact: Amount of New Credit (10% of a FICO Score); Credit of a FICO Score); Amount of Debt (30% of a FICO Score).

Applying for new credit indicates greater credit risk and can affect a FICO Score.

Consistently paying bills on time is a very important factor considered in a FICO® Score. On-time payments can have a positive impact on a FICO Score over time, while a history of late payments can have a negative impact. The more recently the late payments occurred, the greater the impact they will likely have on a FICO Score. As late payments age, their effect on a FICO Score will gradually lessen.

FICO Score Ingredients impact: Payment History (35% of a FICO Score).

Paying all bills on time can positively affect a FICO Score over time.

Estate Planning is Now Essential

Fri, 18 Oct 2024 06:04:24 GMT

Individuals are taught what to think and not how to think. Is this surprising not at all surprising. Americans go to work for many different reasons and one is to provide for their family. I urge individuals to understand more or work with someone who knows the legal process that follows a loved one’s death. Probate has Americans misinformed about the facts of life and death. A recent survey shows a report that more than 75% of Americans are not prepared.

More than half of Americans have no idea what probate costs.
Less than half of us understand that inheritance is not automatic.
Only 3% of respondents know how long it takes to settle an estate.

Probates can vary depending on the state you reside. The average time can take 20 months, Wills & Trust and family matters.

“Some seem to think it only takes less than a month. We have interviewed over 500 of our clients personally, who guaranteed our thoughts,”

Probate estimated costs 3% to 7% of the estate’s value.

As a certified life planning coach for Atlanta, Costa Mesa, Laguna Beach California, Naples and Destin FL.

I go to my clients and on some occasions they spend hours at our offices preparing and structuring what will be essential at the age of retirement or sudden death.

Overall, this is not a conversation most want to have or be concerned with but we have conceded that they don’t fully understand probate or retirement and management of debt . 50% of our clients said they know it will be difficult considering the retirement age change, friends who had to come out of retirement do to the cost of living

“They’ve heard horror stories,” and now looking for solutions, and we are here to help guide and get qualified licensed individuals within their community. We also offer Iron-Clad Storage. Our lock boxes store important information so loved ones don't have to go hunting the items down. I can speak from personal experience, It can be a nightmare, meeting with funeral home directors, family and giving your loved ones peace of mind.

Estate Plan

Retirement experts recommend a. This may vary but there are more teeth or meat on the bone with our Iron-Clad Trust for your small, medium and large estate plan, which protects your assets, bank accounts and how it is directed after death, but we can also manage affairs while you are living and emergencies before they happen.

Hiring An Attorney

Do you need an estate plan with an attorney? If not a reputable firm who can meet your budget and understand your needs? Estate planning is a process and maybe complicated, and you don’t want to make mistakes.

The National Council on Aging. The nonprofit offers an online guide.

Our firm can consult with you annually for updates and changes because they do occur often.

Beneficiaries & Policies

Bank accounts, investment accounts and life insurance policies it is important to name individuals loved ones who will get the money upon your death and manage your estate

Beneficiary designations to function and properly hold trust that is legally binding and dictate what happens to a large portion of your assets.

Identifying beneficiaries and directing assets now can greatly simplify and ease the probate process later, or avoid probate.

Where's My Inheritance? It is there for you. In-fact learn how to become a living beneficiary with Iron-Clad Trust services.

Estate-Planning My File

Utility bills, Burial Plot, Insurance, bank accounts, Trust documents, passwords and pins, it will be too late once you have passed on to unravel and locate needed items for your loved ones and family.

Small Business In Survival Mode

Fri, 18 Oct 2024 05:57:24 GMT

Recessions, layoffs, inflation, can be scary and have real-world consequences. Plan and be preventive towards change. No more reacting become proactive. Economies impact weak companies that lack the fundamental strength to survive. A preventative plan is your safety net towards future calamity. How do you learn to survive tough times? Saving to invest is a great litmus test. Look for alternative ways to navigate your earnings with new approaches to business and a down market. The U.S. economy has fallen into recession four times since 1990. We study all these books and do not understand how history has repeated itself. I was taught to save for emergencies and once those emergencies came. So went my savings and nothing to show for it. This becomes a vicious cycle. Set up your iron-clad portfolio today

Iron-clad Your Business Now

Investment management companies are set up for those who have set aside funds and have large estates. They consult with advisors not to understand how to generate additional streams of wealth but how to grow their money in the markets long term when the economy is bad. The S&P and NASDAQ:) will make you smile if you have a plan to raise your dividends in all four seasons, winter, summer, spring and fall. There is a secret behind the methodology to invest in these methods now. What we do is consult you on growing, protecting your money and offer proven products and services that work. Our annual fee schedule allows to see the impact of going from being in debt but now managing good debt.

Building a Business based on the Seasons
This is the core pathway of building a wealth system in the modern world that is based on financial markets, but most of our excuses are, money, time, desire, or education and who will manage this for me. Iron-Clad is not just a service that consult with you on various methods/products, such as cd's, precious metals, and assets. We offer consulting services to clients and prepare you for retirement plans for all budgets. We have high net worth clients but this is our way of giving back. Iron-Clad primarily generates revenue by only charging a small yearly percentage on the client assets, dicretionary income it manages. We prepare you for wealth management.

XCAPITAL28 success is our clients success. This gives the client the opportunity of not overly committing and building a portfolio. The U.S. stock market continues to increase over the long term. The US economy fluctuates and we navigate you no matter what the economy is doing. You can grow and use that as time to buy, hold and sell. However, the number one question that is asked is whether this is susceptible to market crashes because prices decline, and scared clients might pull their funds out of the markets. Remember we use the market and everyone is impacted by market crashes differenlty. The funds stay in your account and we consult you on what,when and where to position yourself. You only wear one hat and we wear the other ones to help you manage retirement the right way. What is concerning the number of individuals that are coming out of retirement to support themselves. That is calamity and our goals are built on mitigating risk.

Back To School Is An Invest Now:

Back to school shopping and now parents are maxing out their credit cards once more. This time of year with sports, school activities parents have their hands full with one of the largest retail shopping events of the year, second only to winter holiday shopping. According to the National Retail Federation, "Hello Black Friday" now a new shopping king is back and back-to-school spending has increased to $38.8 billion, the second-highest figure on record, after last year’s high of $41.5 billion.

Online shopping (57%), department stores (50%), discount stores (47%), clothing stores (42%) and electronics stores (23%).

Big business will capture great potential revenue. Americans are sole proprietors who run their business independently and wear too many hats. Here are a few strategies to consider implementing, especially since winter may freeze your spending habits when the electric bill and gas bill goes up. Consider grass roots and door knocking. It works! If we can't create a community base business where we live we may lose additional income revenue. Secondly, set up meet and greets with other prospective owners to cross promote each other's services and lend out to your clients for referral fees.. Once you have done that. Get to know your banker. This is important to keep up with changing bank trends. Business is a contact sport in the majority of capital and the only race is beating your competitor and if that does not work try diplomacy or give us a call. Iron-Clad small business recession plan.

Working From Home/Remote is still safe?

Live Data Technologies say, workers will be fully remote by 2025. I will assume so with AI technology on the rise and considering Elon Musk has a future plans for self driving vehicles. Just sit at home with two remotes. One for the car and one for the television. The government and COVID -19 allowed this to occur along with the artificial market of the new job reports. Considering individuals are returning to work and the same individuals are working two jobs. That creates artificial numbers of job growth in the market. What will happen with small business 48.6% may not survive under current conditions based on polls. A survey study was done by RedBallon and the public square and the survey also indicated that 22.4% of respondents said their business wants to survive with continued inflation. This survey, which was conducted from April 30 to May 10 included 80,000 small businesses which are the driving force of America's economy.

Learn How To Prepare For A Recession:

Increase Emergency Savings-wrong

Pay Down High Interest Debt First-wrong

Keep Credit Cards below-Maybe but questionable

This is not how to prepare for a recession. Saving money and a down economy with high food prices, gas, inflation and home ownership is not going to help you long term with discretionary spending. Short term yes. Our lives may be short but getting there is a long process and everyone experience differently. The emergency is now and some are living, pay check to paycheck and now month to month. Paying down bad debt with debt on the books is not a good plan or strategy for budgeting with new procurements. We keep teaching these methods to ourselves first because selling you that is a great business model for the banks to have returning customers. Please don't teach this to your children and last but not least paying down your credit cards to 30%. The paying down of credit cards only improves your credit score and more loans for what you have already become. A debtor! Here is what I mean by that. Where do you go when your emergency savings are depleted? Your credit cards! Two secrets, only increase emergency savings to invest and only negotiate credit cards fully knowing paying down high interest debt does not place you and a creditor position. The first and only debt is good debt and the debt that only serves you. So what do I do with bad debt? You negotiate pennies on the dollar. The Iron-Clad Small Business Recession Plan will show you the way.

Common sense says to me. How Can You save? When you are spending and the dollar is the same but not goods and services. Grocery shopping with a basket vs a cart. We have to get serious about financial hardship and living paycheck to paycheck. Here are a few tips on how to survive a recession? If your credit cards are maxed out. Speak with the credit card companies and negotiate the debt. They will understand! They have no options with you! Go on a payment plan and attack the interest and request to lower the principal. Stop being a minimalist. Spread out food consumptions and change your bills based on usage. Learn how to write all items off and have an investor buy back your debt. Place your savings into an interest bearing and convert the interest. This is just a few tips on how to become an Iron-Clad client. Learn debt management skills as an everyday tool.

Retirement Planning:

Tax Strategies

Income Strategies

Debt Strategies

Insurance Products

Putting a plan together today for tomorrow. Please don't be the mule at the river with good memory and poor judgement. Your 401k employer is not an expert for you to get advice from. Learn where you stand financially before it becomes too late. Don't keep yourself in a box. The same mix of mutual funds from your employer 401k are inherently flawed. Learn individual stock, leverage insurance products, pre tax money and Real Estate. A dysfunctional employment system wants to help you. The average individual investor is not knowledgeable or thinks enough on how to manage money. The less you do, the more you need to be engaged.

Social Security Trust Fund Is At Risk:

May no longer be guaranteed.

A three month Treasury Bill is now paying over 5%.

A1 insurance companies deferred income annuity will lessen you being a victim of the stock market.

Guaranteed Income. Build a better portfolio and this will be your pension.

Where did all the money come from to bail out the airlines, banks and car companies from getting bailed out from social security money? Poor fiscal management from our government. The government will do nothing to stop you from hurting yourself or undo what was done. You have to capture sectors outside the market. A portfolio is a net to capture a better financial future for you and your family.

The government has artificially created the market. Just as in Real Estate individuals moving from one coast to another has artificially inflated the market. There should be money at risk and not at risk. So have money in a market and out of the market. Take the gain off the table and protect it. An uncertain market is the time to do protective strategies.

A home can be a “money pit” for those who are simply not ready. There are grants and first time home buying assistance but no one does not take into account how a new home can financially bankrupt you. I am here to challenge the notion that buying a home is one of the keys to your future wealth and financial security. I will continue to express the importance of tax strategies, income planning and diversification of having a portfolio. Where so many hats can cost you because serving one goal you may sacrifice the ultimate one. Retirement planning! The number one debt that forces individuals back to work before they retire or after is health care. The time has come to access debt and to get rid of debt that is not to your advantage. Debt planning is not done with Americans as home steady climbing. Artificial markets of individuals migrating from one area to increase the average home price was 384,600 at the end of 2019 a gain of 33% according to Federal Reserve Data. This is out of reach for 90% of Americans. Average homes sold in the U.S. hit $513,100 during the 2024 first quarter, according to Federal Reserve data. Congratulations on buying a home last decade and still own it today, chances are your value and net worth has risen considerably. We all numbers don't lie but can be manipulated not to tell the full story. My line of work is to crunch numbers for projects to get approved and buy doing so. We must do a full scale financial forensic audit to see the full story to start today.