Summary of “9 Essential Personal Finance Skills to Teach Your Kid Before They Move Out”

Your child is on the verge of moving out and living on their own.
Consider these ways that you can help your child build a base of financial knowledge before they move out.
Once your child understands how bank interest rates work, they’ll need to know about the tendency banks have to charge fees to account holders.
Tell your child how they can avoid these fees by researching the best bank accounts and reading the fine print.
Show your child that credit card interest rates can be exorbitant, and that high balances can lead to a debt spiral from which they may never escape.
If your child needs to purchase a refrigerator for their apartment, convey to them that they should seek out the best quality model at a price that fits their budget.
Shopping for value is a skill that can be learned, and one that could save your child a considerable amount of money over time.
You don’t need to teach your child how to replace a catalytic converter, but it helps if they have a decent foundation of car knowledge.

The orginal article.

Summary of “How to Avoid Going Broke After Making $650 Million”

Depp is now suing his business manager and his firm for negligence, breach of fiduciary duty and fraud.
So once again, I will lay out a simple set of rules that can help any recipient of new-found wealth avoid some of the most common errors, and maybe keep from going broke.
The most successful athletes and musicians have business managers who might handle the day-to-day chores while they are on the road working, but they must understand their own earnings, spending and investments.
Avoid debt: Living within your means should get easier as earnings rise.
If you spend six months shooting a film in Malaysia, you probably lack the time to monitor how much risk your hedge-fund managers are putting on.
Find an experienced pro other than your business manager – if you have one – to help manage this.
Understand what money is and what it isn’t: There is so much emotional baggage around money – especially the blind pursuit of it – that we often forget what it is.
Money is a tool that lets you accomplish specific things, whether paying for good health care, ensuring financial security, freeing you from stress and worry, or covering the costs of leisure and philanthropy.

The orginal article.

Summary of “How I’m Getting Richer Every Day”

Compared to several years ago, when I had less money, I still have the same life.
“Money isn’t making that much difference in how you and I live. We’re both going down to the cafeteria for lunch and working every day and having a good time. So don’t worry about money, because it won’t make much difference in how you live.”
Enjoy your simple life, save your money, invest it wisely, and don’t lose your money.
If we don’t spend money at all, we become stingy and fearful-another extreme state of mind.
So we all know how to build wealth, right? Save your money and then invest it.
For the first few years of my career, I worked hard and didn’t spend much money, so I could build up my buffer.
What’s more, professionals don’t even make money with trading.
Let me ask you this: What’s the purpose of investing? To me, it’s not about making money.

The orginal article.

Summary of “When should you retire? Don’t die at your desk, but don’t outlive your money either”

Fritz Gilbert knew in his 20s that he did not want to die at his desk.
“Every one of us is making a decision on retirement every day, in the way we live and spend our money,” Gilbert said.
Gilbert is a case study on how to mentally and financially ready yourself to retire.
Do something, she says, because “Dying at your desk is not a retirement plan.”
The rest of his investments are split between 60 percent stocks and 40 percent bonds, consistent with the playbook that most financial experts recommend for someone in his 50s and 60s. “Somewhere between 40 percent to 60 percent equities is a great place for most folks entering retirement age,” said David Blanchett, head of retirement research at Morningstar Investment Management.
“Assuming retirement is going to last 30 years, I think 70/30 stocks to bonds could be more aggressive.”
“It’s moving to a lower cost of living for retirement to allow retirement funds to stretch further.”
Gilbert is cruising into an affordable retirement that includes camping in national parks, fly-fishing, mountain biking, kayaking and his favorite – cold-water, long-distance swimming.

The orginal article.

Summary of “5 Reasons The Marvel Cinematic Universe Should Have Failed”

The X-Men series made it to three films before rebooting itself and spinning off Wolverine into a hit-and-miss series of his own.
Let’s be real, that series has made a pact with some sort of elder god, and we’re gonna be enjoying.
Maybe your infinite money can pry the Star Wars franchise from Disney? Who cares? They produce great animated shows like The Clone Wars and Rebels, but they can’t seem to escape the black hole of “Famous character, but younger” when it comes to spinoff movies.
The reviews for Solo are … fine, but who from the Star Wars universe bench could give you the equivalent of Black Panther?
Amazon is making a Lord Of The Rings series which I guess will stand independently of the films, since we don’t know if Peter Jackson will be involved, but after viewing The Hobbit trilogy took up about a month of my life, I’m pretty good with not seeing any Middle-earth stuff until the Age of Man ends.
The failed Mummy movie that was supposed to launch the “Dark Universe” was actually one of the more promising candidates.
Sure, there’ll continue to be ongoing series’ and shared universes.
A series of standalone blockbusters that all play off of the same central storyline and culminate in a number of ensemble blockbusters that somehow never get stale?

The orginal article.

Summary of “Traders With Pockets Full of Crypto Quit Wall Street”

While the Wall Street establishment debates whether cryptocurrencies will become a profit center or a legal liability, some employees have gotten wealthy enough from personal investments in digital assets to turn their backs on promising jobs at top firms.
Zhang is working on a trading platform for digital assets, according to a person familiar with the matter.
Zhang, formerly a trader on the centralized risk desk at Deutsche Bank, started investing in cryptocurrencies in his spare time last year and has traded more than $1 million worth of the assets, the person familiar said.
He exchanged tips and trading ideas with colleagues, including Yao King, head of program trading and exchange-traded fund trading for the Americas, who also made sizable personal profits from crypto trading, said people familiar.
The Justice Department has opened a criminal probe into whether traders are manipulating prices, while the Securities and Exchange Commission is investigating initial coin offerings.
The whipsaw ride in cryptocurrencies in the past six months, which saw Bitcoin trade between around $6,000 and $20,000, has fueled debate among laymen and Wall Street luminaries alike over whether financial institutions should seek to make money from digital assets or avoid them like the plague.
Digital assets have even proven divisive within firms, with managers often at odds with subordinates, said Adam Grimsley, a former BlackRock fixed-income specialist who co-founded a crypto hedge fund in London called Prime Factor Capital.
“Crypto is certainly a market that’s pulling away real talent from financial services,” said Chris Matta, 28, who left Goldman Sachs’s money management unit last year to co-found an investment firm for digital currencies called Crescent Crypto Asset Management.

The orginal article.

Summary of “5 Money-Saving Tricks That Actually Work”

Most of us would like to save more money – in order to build a bigger nest egg for retirement or be able to pay for upcoming college expenses or just for a fancy vacation.
If you’d like to save more money but need some ideas on how to do so effectively, read on.
You can probably save a good deal of money by applying a little more psychology in your financial life.
A tried-and-true way to save more money, as long as you stick with it, is saving small sums here and there for a long time.
Another super powerful way to save money is to quit smoking.
There are lots of ways you can save money incrementally.
This trick for saving more money surprises many people because it’s so easy: Make some phone calls.
Here’s one last trick: If there are some costly habits you just don’t want to break, such as that morning latte or packs of cigarettes or ordering more than one drink when you’re out, turn them into habits that both cost and save money – by matching the spending with saving.

The orginal article.

Summary of “How Britain let Russia hide its dirty money”

The embarrassing truth is that, although I have written about Russia and its neighbours for two decades, during which I have increasingly specialised in analysing corruption, it had never really occurred to me to ascertain precisely how much stolen Russian money had found a home in the UK, or to chart exactly where it had ended up.
One way to begin investigating exactly how much Russian money there is in Britain – and how much of it is dirty – is to look at the official data.
Russian money that moves through another jurisdiction before arriving in Britain isn’t counted as Russian and, since the overwhelming majority of money that enters and leaves Russia does so via tax havens such as Cyprus and the Bahamas, this means the official figures reflect only a small portion of the money the MPs were interested in.
“Guselnikov believes that politicians’ sudden panic about Russian money in Britain is misplaced. When we met in his office in a grand terraced house on Grosvenor Square, he began by pointing out that Russian money had less influence over British business than people think.”I can’t recall any big enterprise controlled by Russians, or any big company.
Guselnikov said banks had become more stringent in their checks on the provenance of money in the last few years, so it was unlikely that significant flows of dirty money were entering the UK from Russia any more.
Why was Britain the only country that declined to act on the information Browder provided? His conclusion was that too many influential people – lawyers, bankers, accountants, property developers – were dependent on dirty Russian money for their livelihoods.
This is one of the problems with trying to ascertain the volume of dirty Russian money in London: how far back do we go? Do the fees Midland Bank received for banking Soviet money in the 1950s still count as Russian cash, and if so, are they dirty? Does the commission the estate agent earned by selling those flats in Kensington in the early 1990s count as dirty money? And what about the £800m that Russians paid for government bonds in return for golden visas? Or the $41,000 of Magnitsky money that was spent on a wedding dress in London? How many times does money have to circulate in the economy before we decide it’s not dirty any more?
We don’t know how much dirty money there is in the UK, nor do we know exactly where it is, and there’s nothing we can do about it.

The orginal article.

Summary of “Find out how much car you can afford with 20/4/10 rule”

Knowing how much car you can afford is the first step to buying one.
That’s why I want to take a deeper look at buying a car – and show you tactics to get the most out of your car negotiations.
How many times have you seen someone sink a bunch of money into a flashy luxury car with with a bunch of unnecessary additions only for them to end up trying to sell it with a few years?
If you truly want to get the best deal out of your car purchase, you’re going to have to negotiate IWT style.
A lot of people want to prioritize how a car looks over anything else.
You should really prioritize getting a good, reliable car that you’ll be able to drive around for at least 10 years.
I’d rather you get a new car that’s reliable than purchasing a used car that’ll break down sooner.
You don’t want to end up struggling because you can’t afford your monthly car payment.

The orginal article.

Summary of “The relationship between time, money, and happiness ~ Get Rich Slowly”

When I began to fully grasp the relationship between money and time, my first big insight was that wealth isn’t necessarily an abundance of money – it’s an abundance of time.
What if you like your lifestyle and don’t want to cut back? Or what if you’re not able to cut back? There’s still a way to use the relationship between time and money to increase your sense of well-being.
We provide evidence that using money to buy time can provide a buffer against this time famine, thereby promoting happiness.
Together, these results suggest that using money to buy time can protect people from the detrimental effects of time pressure on life satisfaction.
Interestingly, the effects of “Buying time” have the greatest impact on folks who have less money: “We observed a stronger relationship between buying time and life satisfaction among less-affluent individuals,” the authors write.
My biggest takeaway from thinking about the relationship between time and money is this: When you spend less, you can work less.
You have to decide how much time you’re willing to spend on present comfort and how much time you want to bank for the future.
What about you? How do you view the relationship between time, money, and happiness? Do you have some examples from your own life of buying time in order to improve your happiness? What balance have you arrived at – and how did you get there?

The orginal article.