Hype surrounds cryptocurrencies and their potential to liberate the unbanked and create a new model of finance for the world. Yet, the potential for the underlying blockchain technology to revolutionize farming does not seem to find its way to the news rounds. The agricultural sector benefits from blockchain technology with the help of names like IBM.
Gold prices are grinding higher, as the dollar remains soft. This comes in the wake of Fed Chair Jay Powell’s Humphrey Hawkins in front of both houses of Congress. He continued to keep to the script discussing the need for patience. He also said that the runoff in the Fed’s balance sheet, which has had a tightening effect, would end in 2019. While prices have been rising slightly, merger and acquisition news hit the tape.
MLB Crypto Baseball is the first sports league with non-fungible tokens for public-use on blockchain. Non-fungible tokens are unique tokens which are not interchangeable. They are representations of goods or assets. MLB Crypto is a cross-over between baseball card collecting and fantasy sports.
The NFL saga of Le’Veon Bell is finally over, at least for the 2018 NFL season. Bell will not suit up for the Pittsburgh Steelers or any team for that matter. From a fantasy football aspect, many who drafted Bell in their leagues are quite upset, including David Spade. The Steelers and their fans are also disappointed but ready to put this behind them.
By deciding not to sign a long-term contract or his franchise tag this season, Bell passed on over $14.5 million in salary. This begs the question. Would you pass up a $14.5 million salary for a year?
WHAT DOES $14.5 MILLION LOOK LIKE?
If you had a job earning $14.5 million in salary for a year, you would take home $1,205,333.33 a month. If you were paid twice a month, that would come out to $604,166.67 per paycheck. That’s roughly ten times more than the average American family makes in the entire year!
Of course, this is all before taxes. If one earns a salary of $14.5 million for a year, they will be in the highest federal and state tax brackets. After taxes, someone can still expect to take home a nice chunk of change every couple of weeks.
HOW MUCH OF A $14.5 MILLION SALARY CAN I SAVE?
That answer is up to you. You can make a lot of money, but if you spend a lot of money you have very little leftover for savings. The opposite is also true. Maybe you don’t make a lot of money, but of what you do make you save first and spend later. This is a good recipe to build wealth. Saving before spending along with creating a free monthly budget is a good recipe for wealth building.
Although saving with an IRA, particularly a Roth IRA, is a good way to save for the future, you are unable to participate if you make a $14.5 million salary. 2019 income limits have been announced for IRA’s and you’d have to make less than 1/100th of that salary to participate.
Although we can dream about making a $14.5 million salary, the reality is that very few people actually pull down that kind of money in a year. After all, Le’Veon Bell turned it down hoping for a bigger payday.
Even though you don’t make millions of dollars doesn’t mean you can’t achieve everlasting wealth. Achieving wealth is a two part recipe: budgeting and investing. Proper budgeting and smart investing can build a wealth that one can pass on for generations.
Budget Smart, Invest Wise
OTHER NFL PLAYER’S NET WORTH
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If you’ve recently made an offer on the purchase of a property, you’ll know that the next step in the process is hiring a solicitor or conveyancer in order to legally transfer ownership from the seller into your name. This process is called conveyancing, and that’s why you can choose the services of a conveyancer. You can also choose to hire a solicitor, another legal profession that specialises in property transfer. But which one should you choose?
In order to answer this question, first you’ll need to know what each of these does, and then decide on whether a solicitor or conveyancer is better for your needs. Both solicitors and conveyancers are licensed and regulated by the government, and they will also act almost identically when handling your property transaction. However, there are a few differences.
Solicitor Or Conveyancer – The Differences
Conveyancers are property lawyers who focus especially on residential property transfers, whereas a solicitor is a qualified lawyer and is trained in many other aspects of the law. Sometimes, a solicitor may charge more than a conveyancer to complete a property transfer. This would still depend on the complexity of the process of the property you wanted to transfer.
What To Look For In A Conveyancer or Solicitor
There is a lot of bureaucracy involved in conveyancing, but all the legal paperwork is necessary to ensure that the transfer of the property goes through. The last thing you want as a buyer is for unnecessary delays because your solicitor or conveyancer has not handled the process promptly. So, you really need to find someone with a good track record to handle your conveyancing efficiently, such as River City Conveyancing based in Brisbane, who has an excellent reputation.
Make sure that your solicitor or conveyancer is ready to answer your questions whenever you need them. Conveyancers are often office-based, as opposed to solicitors who may have other legal duties.
Before hiring either a conveyancer or solicitor, ensure that the quote you are provided is final and doesn’t include hidden costs that will sting you later. Two things to avoid are quotes that do not fully itemise all charges, and also any conveyance service that charges an hourly rate.
Making The Choice Between A Conveyancer And Solicitor
The bottom line is that in most cases of transferring property ownership, the conveyancer will be able to handle your complete transaction. There may be reasons you need to take on a solicitor, especially if there are legal complications involved in the conveyancing, such as boundary disputes. In these cases, the legal knowledge will be superior to what a conveyancer is trained for, and you will need to ask the services of a lawyer.
You might be tempted to just go ahead and simply hire conveyancers. However, for a more expensive property, hire solicitors for they can tackle problems involving higher value homes.
Many people enjoy a lack of predictability in at least some facet of life. Surprises can keep life interesting and exciting, after all. However, there are situations where surprises are not desirable at all. One case of this applies very much to personal finances.
People generally want their personal finances to be as predictable as possible so that they know exactly how much they will be making or how much they will need to pay for a certain bill every month. Of course, there are pleasant surprises when it comes to personal finances, like when you end up having to pay less than you had expected, or you end up getting a surprise bonus check at work, but these types of surprises are very rare. When it comes to personal finances, it’s much more common for surprises to entail a loss of money rather than a net gain.
Predictability is often the most desirable state when it comes to personal finances, as people like to know when their payment due dates will be every month and that they will not have to pay more than they are expecting to pay. Having to pay more for an unexpectedly high bill will take away money that you may have been planning to spend somewhere else, which can be highly frustrating.
With this in mind, it pays to know as much as possible about a financial arrangement before putting your signature down. For example, learning what are installment loans repayment plans can be determined by reading the details outlined by lenders on their websites. It might seem like a lot of confusing financial language, but similar to learning a foreign language, eventually you start to catch on to the lingo. Furthermore, a good sign of a trustworthy lender is the level to which this information is provided.
Another common source of undesirable unpredictability when it comes to personal finances is earning less money than you had expected to earn. This can happen when your hours have been cut back at work due to a decision that was out of your control, or when you suddenly lose your job with no warning and do not have time to get a new job without having a gap in employment. In these situations, which commonly arise, you will have to make do with a smaller amount of money and may have to cut back on what is already the bare necessities.
As you can see, there are many reasons why predictable personal finances are highly valued by anyone who does not want to end up in a financial crisis. Ideally, the situation will always be predictable, with no unexpected losses of income or surprise bills popping up, but the reality is that this is not always the case. If you end up with less money in your budget than expected, it is important to be prepared for the situation and know how to deal with this less than ideal predicament, and have a backup plan if necessary, such as an emergency fund. If you are already in this situation and have no idea how you are going to get through it, keep this in mind for next time so that you are better prepared when the situation arises again.
Precious metals are undoubtedly one of the most popular commodities to trade, not least because of the strength they add to the average investment portfolio. There are, of course, many factors to consider before investing in them, so it is worth knowing how they behave on the market and when the best time to invest is. Here are some considerations on precious metals.
Often traded through brokers like LCG, precious metals (gold, silver and platinum) exhibit unique market behaviour, and are considered a fairly steady investment. Gold is often used to hedge a portfolio against investment risk.
Given that their core value doesn’t really decrease, they are seen as the go-to commodity in times of political and economic uncertainty. This is because other, more volatile assets (like currencies) become incredibly difficult to invest in due to their unpredictability, and thus their value can often decrease dramatically.
It is worth noting that the behaviour of each individual precious metal is often mirrored by the other precious metals, Silver’s market behaviour, for instance, is incredibly similar to gold’s. Precious metals have, by their standards, had a fairly volatile year, with the value of gold currently standing at around $1,338/oz (as of 06/09/2017), almost exactly the same value as it was a year ago.
This is up from $1,157 at the start of the year. It is likely that tensions between the US and North Korea have contributed towards this surge in value, and it could well be the case that gold’s value decreases if this eases off. Silver’s market behaviour has been much the same over the last year, so compared to earlier in the year these metals are now very expensive.
Are They a Good Investment?
Compared to their value five years ago, precious metals are trading are a fairly low price. That being said, it seems as though they could well be on the rise again after a significant period of geopolitical turmoil, so watching the market carefully is bound to be a good idea.
Silver and platinum also have fairly widespread industrial uses, so any surge in demand for them could well see their price rise sharply.
Precious metals will always be a good investment to hedge against risk, but currently they may be seen as overvalued/too expensive by buyers. Many may be looking to sell in the short term future to take advantage of their current value.
As the world evolves every day there are more and more people who are considering investments for their future endeavors. Whether they are planning for their retirement or investing in a multi-national company, there are advantages to those investments as well as regulations that come with the territory. For example, there are plenty of people who’ve chosen to immigrate to the United States in recent decades. The regulations for their investments are quite a bit different than for a current resident of the United States, due to the legal status of the individual.
What kind of steps need to be taken in order to invest as an immigrant?
One of the most important steps anyone will need to handle is their EB-5 Visa Application process. This process can be quite confusing and the legal language used is often hard for US residents to understand, let alone someone who is immigrating from another country. This is where a solid EB-5 Visa attorney is nearly essential.
Immigration and investments are what these attorneys handle the best. Advisors will openly tell you to find experienced immigration lawyers to help your EB-5 visa application process in order to make the process as smooth as possible. One of the reasons for this is the obviously confusing legal language often used in the process. Another important reason for this is so you have an experienced attorney overseeing the process and ensuring that any of your current investments are properly analyzed.
Why would my current investments matter?
With the current state of affairs in the world, many governments are taking a much harder look at the investments of those immigrating to their countries. They want to be sure that no money is being passed to organizations who may be on a watch list, etc. and your investments can and will likely be looked at as a result.
While this may seem a bit nosey on the outside, it is a sign that the ruling government is actively protecting its citizens, which should actually put you much more at ease knowing they will be protecting you as well when the next person comes along wishing to immigrate to the country.
Taking the right steps and contacting knowledgeable lawyers is important to your investments
Whether you’re considering investing post-immigration or already have investments, taking the proper steps and obtaining outstanding legal counsel is important to not only your immigration process, but also to your investments overall. Not only can an experienced EB-5 Immigration Attorney help you to speed up and smooth out your Visa process, they will also be able to give you a bit of insight into the many regulations that you will encounter after your process is complete.
By taking counsel, you are investing in your future, as you’ll learn a great deal about the process, the laws you should be aware of, and even smaller details such as general conduct. Be sure to ask your immigration lawyer about any local, county, state, and federal regulations that may affect your investments and your family, making your future a bit brighter with the knowledge that you have experienced counsel to help you along.
I got my first “real” job at the age of 23 and could not wait to begin investing. I knew that if I was going to achieve wealth I had to start young and with my parent’s financial advisor. Turned out I was wrong. I only had thousands of dollars to invest, and my FA had clients who had hundreds of thousands, even millions. I paid fees to the FA, still to this day I’m not sure what they were, that were at least 1%. I took the advice of my advisor believing they were the “expert”. Eventually I learned they weren’t.
1. INVEST IN STOCKS, NOT BONDS
Most advisors will tell you that you need an appropriate mix of stocks and bonds, especially the older you get. Why do they tell you this? Bonds have a lower volatility than stocks, but that lower volatility also means lower returns. Nick Murray states in his book, “You should be an owner not a loaner”. A good FA will allow you not to freak out and sell when the market turns south. By owning stocks and not bonds, you ensure the highest possible return on your portfolio. After all, the S&P 500 has returned an average of over 10% per year for over the past century.
2. GET A GOOD FINANCIAL ADVISOR, OR CONVINCE YOURSELF NOT TO SELL
Nick’s reasoning for a financial advisor is that he or she will make sure you won’t sell equities when times get rough. He uses the following example in his book:
Times got tough during those 45 days for equities, but since Warren didn’t sell he didn’t lose. The natural tendency of people is to sell when the market heads lower and buy when the market goes up. If you can wrap your head around this philosophy that markets will go down and up, but keep in mind the long-term investing horizon, I say there is no reason for an FA.
3. INVEST CONSTANTLY AND FOR THE LONG TERM
Stocks may not return 10% in the short run, but the best predictor of the future is the past, and over the long-run they should return about 10%. Invest with a long-term horizon and invest on a constant basis. Investing on a constant basis means every week, paycheck or month, add to your investments and let compound interest work its magic.
Finally if you get a chance I definetly reccomend that you pick up a copy of Murray’s book. Its available on Amazon for around $20 bucks. Thats a lot, but its definetly worth the investment. Click here to get it.
Budget Smart, Invest Wise