Getting a Degree of Financial Security

June 14, 2021

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Andre & Mara Simoneau

Andre & Mara Simoneau

Financial Consultants

Lynx Creek Cir

Frederick, CO 80516

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April 5, 2021

Why Gold Is More Than Just a Shiny Metal

Why Gold Is More Than Just a Shiny Metal

Gold has been a symbol of wealth and status since the dawn of time.

In ancient times, kings would have gold coins minted with their faces on them so that they could be exchanged for goods. Today, gold is commonly viewed as an investment. But… why? This post will explore how gold may help you achieve financial security for your family during today’s difficult economic times.

Gold is a valuable resource because it is rare—but not too rare! There’s a fine line between rare and too rare when it comes to currency. Some materials don’t have high value because they’re too common. That may seem obvious. But other materials are too rare—it would be almost impossible to widely circulate coins made out of platinum or rubies because they’re too difficult to find.

Gold strikes that perfect balance. It’s common enough to create a steady money supply, but rare enough to hold value.

Gold has value because it doesn’t corrode. Other metals like iron and copper eventually will corrode. That attribute won’t do for a currency—the treasury of a state would slowly decay into nothing!

Gold is excellent for storing value because it lasts. Gold jewelry, bars, and coins are far more likely to be in good shape in 100 years from now than other metals.

Gold has value because… well, because it’s always had value! Let’s face it—gold has been worth so much to so many people for a long time. They’ve used it to create beautiful jewelry, altars, decorations, and anything else that communicates luxury. It’s been the basic means of exchange for countless societies, civilizations, and empires throughout history. It’s the default, the original, the classic. And because it’s been considered valuable for most of human history, it’s a fair bet that it will continue to be valuable into the future.

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February 8, 2021

3 Steps to Reduce Debt with Limited Income

3 Steps to Reduce Debt with Limited Income

Is your income holding you back from paying down debt?

It may feel like necessities such as housing, groceries, and transportation are consuming your cash flow. So how can you pay down debt if you feel like you’re struggling to put food on the table?

Reducing debt with a limited income is certainly a challenge. But if you know the right strategies, it’s an obstacle that you can work to overcome. Read on for tips that can help you pay down debt, regardless of how much you earn.

Budget debt payments first. The next time you sit down to budget, start by allocating money for reducing your debt. It should be your number one priority. Then, budget for essential living expenses like housing, utilities, and groceries. If you need more cash flow, cut down on non-essential spending like dining out and purchasing new clothes.

Start a side gig. If cutting expenses alone doesn’t free up enough cash, explore ways to make more money. That doesn’t always mean starting a second job—after all, this is the golden age of side gigs! Here are just a few hustle ideas for your consideration…

■ Resell books, clothes, and shoes you might pick up from the thrift store on eBay ■ Rideshare or deliver groceries and food ■ House sit, baby sit, or pet sit for friends and neighbors

Ultimately, your ability to earn income is only limited by your creativity in solving problems. What other opportunities are there for you to help others and earn extra income?

Make more than minimum payments. Your debt will linger if you make only minimum payments. That’s because minimum payments are nearly erased by interest. You make a payment, but the interest may put you almost right back where you started.

Instead, choose one debt to eliminate at a time. You should start with the one with the smallest total balance or the highest interest rate. Keep making the minimum payments on your other debts, and target that one debt with the rest of your available financial resources. Once it’s gone, choose the next smallest balance. Rinse and repeat until your debts are gone.

The biggest takeaway is that if you’re working with a limited income, paying off debt has to become your number one financial goal. Devote as much of your budget towards it as possible and increase your earnings if you have to. But it’s well worth the effort—once your debt is gone, you’ll have significantly more income for building real wealth!

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December 30, 2020

The Millennials Are Coming, the Millennials Are Coming!

The Millennials Are Coming, the Millennials Are Coming!

Didn’t do so well in history at school? No worries.

Here’s an historical fact that’s easy to remember. Millennials are the largest generation in the US. Ever. Even larger than the Baby Boomers. Those born between the years 1980 to 2000 number over 92M.¹ That dwarfs Generation X at 61M.

When you’re talking about nearly a third of the population of the United States, it would seem that anything related to this group is going to have an effect on the rest of the population and the future.

Here are a few examples:

  • Millennials prefer to get married a bit later than their parents. (Will they also delay having children?)
  • Millennials prefer car sharing vs. car ownership. (What does this mean for the auto industry? For the environment?)
  • Millennials have an affinity for technology and information. (What “traditional ways of doing things” might fall by the wayside?)
  • Millennials are big on health and wellness. (Will this generation live longer than previous ones?)

It’s interesting to speculate and predict what may occur in the future, but what effects are happening now? Well, for one, if you’re a Millennial, you may have noticed that companies have been shifting aggressively to meet your needs.² Simply put, if a company doesn’t have a website or an app that a Millennial can dig into, it’s probably not a company you’ll be investing any time or money in. This may be a driving force behind the technological advancements companies have made in the last decade – Millennials need, want, and use technology. All. The. Time. This means that whatever matters to you as a Millennial, companies may have no choice but to listen, take note, and innovate.

If you’re either in business for yourself or work for a company that’s planning to stay viable for the next 20-30 years, it might be a good idea to pay attention to the habits and interests of this massive group (if you’re not already). The Baby Boomers are already well into retirement, and the next wave of retirees will be Generation X, which will leave the Millennials as the majority of the workforce. There will come a time when this group will control most of the wealth in the US. This means that if you’re not offering what they need or want now, then there’s a chance that one day your product or service may not be needed or wanted by anyone. Perhaps it’s time to consider how your business can adapt and evolve.

Ultimately, this shift toward Millennials and what they’re looking for is an exciting time to gauge where our society will be moving in the next few decades, and what it’s going to mean for the financial industry.

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¹ “Millennials: Coming of Age,” Goldman Sachs, http://www.goldmansachs.com/our-thinking/pages/millennials/

² “May We Have Your Attention: Marketing To Millennials,” Kelly Ehlers, Forbes, Jun 27, 2017, https://www.forbes.com/sites/yec/2017/06/27/may-we-have-your-attention-marketing-to-millennials/?sh=2f3cb7cb1d2f

November 25, 2020

Money Black Holes You Should Avoid

Money Black Holes You Should Avoid

It’s true that sometimes you’ve got to spend money to make money.

But there are plenty of things that people spend money on that give them absolutely no return. Some of these are obvious (lottery tickets and ponzi schemes), but others are subtle parts of our lifestyle. Here are three money black holes that you should avoid at all costs!

New Cars
Nothing feels better than driving off the lot with a new set of wheels. Until, that is, you realize that your car’s value has already started plummeting.

The most important rule to remember is that cars are practical tools, not long-term investments. Blowing a huge stack of cash might feel cool, but it’s a huge misallocation of money if you don’t have any to spend. Try to find a used model of the same car that’s five years old or more. Chances are you’ll get many of the same features for a fraction of the cost.

Pricey Phones
It seems like phones are improving every day and in every way. But is your high-end, name brand personal assistant really worth the steep price tag? Phones always decline in value after you buy them; The highest value-retaining phone dropped almost 50% a year after its release.¹ Unless your mobile device is a tool of your trade (i.e., you’re a TikTok influencer), dodge the hype and choose a cheaper or refurbished alternative.

Designer Clothes
New threads are awesome. You’ll never feel more like a hero than when you first hit the town in a freshly fitted suit or a designer t-shirt.

They’re also insanely expensive. Sure, they might not all cost $1,690 like a Tom Ford long sleeve solid T-Shirt. But regularly buying top-of-the-line clothes can burn huge holes in your wallet.

Fortunately, you have some fun alternatives at your fingertips. Off-price retailers might sometimes carry your favorite brands at a fraction of the cost. And thrift stores can be goldmines of high quality finds if you’re adventurous enough to explore them with a friend!

Remember, it’s okay to spend money on cool gadgets and gear if you’ve saved up for them or you’re already financially independent. But if you’re just setting out on your journey, it’s best to practice some discipline and seek out cheaper alternatives to these potentially dangerous money black holes.

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“Depreciation among top smartphone brands compared: Apple’s iPhone tops the list as the least depreciating brand,” Abhin Mahipal, SellCell, Oct 14, 2019, https://www.sellcell.com/blog/depreciation-among-top-smartphone-brands-compared-apples-iphone-tops-the-list-as-the-least-depreciating-brand/#:~:text=Apple%20once%20again%20blows%20the,release%2C%20making%20it%20worth%20%24580.

November 9, 2020

3 Awesome Ways To Fall In Love With Autumn

3 Awesome Ways To Fall In Love With Autumn

If there’s one thing you’ve earned this year, it’s autumn.

It’s been a rollercoaster of a year. We could all benefit from stepping off the wild ride of 2020 and just enjoying what’s around us! That’s why I put together some fun ways to enjoy the most beautiful season of the year before the holiday craziness sets in.

See The Leaves
I don’t just mean glancing out your window at some leaves you’ll have to rake up in a few months. Fall is one of the most beautiful seasons of the year, so now is the time to take in some stunning scenery before it’s too late! If you’re the adventurous type, why not plan a getaway to the mountains to see some breathtaking fall foliage? If you don’t have the luxury of travel, just go on an afternoon drive! There’s also nothing more heartwarming than walking around your local park or taking a stroll in a cute neighborhood that’s bathed in orange and gold leaves. Check out this handy map to find peak-leaf season near you!

Get Lost In The Corn
But what if you live in an area with a scarcity of trees? Have no fear, there’s a classic fall activity you can still enjoy: The Corn Maze! Wrangle your family together, hop in the car, and get lost in a field for a few hours. It’s a great excuse to enjoy the fresh fall air with your loved ones for an hour or two!

Make Your Own Fall Beverages
If my Instagram feed is correct, the best part of Autumn is the drinks. But here’s the secret; you don’t have to pay a king’s ransom at a “local” coffee shop for some delicious fall beverages. For instance, just throw some milk on the stove and add some chocolate chips to create incredible hot chocolate. Need more of a boost with your caffeine? Toss some cinnamon sticks, maple syrup, and whip cream into your morning cup of Joe for a cozy kick-off to your day. And who could forget about the joys of warmed milk? Just heat some milk on the stove, add cinnamon, cloves, and vanilla to taste, and top it all off with whip cream to create the perfect drink for a chilly fall evening!

So what are you waiting for? Throw on your sweater, pull that beanie snuggly over your head, and make the most of the season while it lasts!

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November 4, 2020

Disappearing Pensions and Protecting Your Retirement

Disappearing Pensions and Protecting Your Retirement

The old days of working at the same company for 30 years and retiring with a company pension are just about over.

Today, very few companies offer pension plans and those that do are finding those plans in peril.

Most modern workers must learn to plan their retirement without a pension. Luckily, there are still great financial tools for your retirement strategy, and workers who save diligently and prepare well can still look forward to a well-funded retirement.

Disappearing Pensions and the Rise of the 401(k)
A company pension was commonplace a few decades ago. In exchange for hard work and service for somewhere around 30 years, a company would provide you with a guaranteed income stream during your retirement.

Many Americans enjoyed a comfortable and secure retirement with a pension. Coupled with their social security benefits, they lived fairly well in their golden years.

The reason pension plans are going the way of the wind has many factors, including changes in workers’ behavior, longer life expectancies, and rising costs for employers.

A study by the professional services firm Towers Watson found that from 1998 to 2013, the number of Fortune 500 companies offering pension plans dropped 86 percent, from 251 to 34.1 Couple that with the Revenue Act of 1978, which allowed for the creation of 401(k) savings plans, and you’ll have a good view of the modern retirement landscape.

How to Retire Without a Pension
The company pension isn’t coming back, so what can workers do to secure a retirement like their parents and grandparents had?

Here are a few retirement planning tools that every worker can put to good use.

Take Full Advantage of Your Company 401(k) Plan
If your company offers a 401(k) retirement plan, make sure you’re taking full advantage of it. Here are a few ways to maximize your 401(k) plan.

  • Make the match: If your employer offers matching contributions, don’t leave the match on the table. Contribute the required percentage to collect the most you can.
  • Get fully vested: Make sure you are fully vested before you make any employment changes. Your contributions to a 401(k) will always be yours, but to keep 100% of your employer contributions, you must be fully vested.

Open a Roth IRA
A Roth plan is funded with taxed income. The upside is that you won’t pay taxes when you take it out. If your 401(k) contributions are maxed out, a Roth could be a good savings vehicle for you.

Consider an Annuity If you like the idea of a guaranteed income stream, consider an annuity. An annuity is an insurance product, so most of the time it isn’t invested. In exchange for a lump sum of money, an annuity will pay a guaranteed monthly income stream.

Talk to a Trusted Financial Professional
Pensions are all but gone. This means today’s workers must be more involved in how they create a strategy for their retirement. There are many great retirement savings tools. Talk to a trusted financial advisor to understand and learn how you can make sure your retirement income is going to be there when you need it.

This article is for informational purposes only and is not intended to promote any certain products, plans, or strategies for saving and/or investing that may be available to you.

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“Pensions Are Taking the Long, Lonely Road to Retirement,” Lou Carlozo, U.S. News and World Reports, Jul 20, 2015, https://money.usnews.com/money/personal-finance/mutual-funds/articles/2015/07/20/pensions-are-taking-the-long-lonely-road-to-retirement

October 28, 2020

Should You Listen To Music While You Work?

Should You Listen To Music While You Work?

There are some workplace distractions that we all know torpedo our productivity.

We don’t need an article to tell us that social media and break room chatter hinder us from getting things done. But what about music? Afterall, that’s what we use to block out distractions and get in the zone. Do our favorite tunes actually make us productive or do they slow us down? It turns out that the answer to that question depends on why you listen, how easily you get bored, and what you’re playing.

The goal: avoid multitasking
The golden rule of music and productivity is that you must avoid multitasking at all costs. There’s no better way to hamstring your productivity, torpedo your IQ, and potentially damage your brain than by trying to divide your focus between two tasks.¹ So if you’re listening to music to drown out your talkative co-workers or that weird noise the AC makes, you’re on the right track. If you’re jamming out to tracks that make you think about highschool crushes and epic concerts, you might be doing yourself more harm than good.

Complexity and distraction
But it gets more complicated. Some people respond better to working while listening to music than others. A study discovered that boredom-prone individuals performed both simple and complex tasks better in silence, while the opposite was true for the less boredom-prone.² The researchers hypothesized that the jobs at hand were engaging enough to keep the easily bored occupied. The music was unnecessary external stimulation that dragged their attention away.

This means that there isn’t a one size fits all solution for using music for productivity. If you’re easily bored and distracted, you might want to avoid music while you work altogether. Noise cancelling headphones might come in handy, but be sure not to pump music through them. By contrast, more naturally focused individuals might find soft background music helps them zone out the noise and laser in on what they need to do.

What makes good focus music?
So let’s say you’re not distraction prone and you like working to some tunes. What music should you listen to? Despite what your uncle in the orchestra would have you believe, there isn’t a single best genre of music to stimulate your brain (sorry, Mozart). What you’re looking for is music with certain qualities.

First, find music that’s the right tempo. You’re shooting for around 60 beats per minute to minimize stress and promote focus. No dance music or break-neck metal! Second, avoid words. You’re probably listening to music in an attempt to cancel out conversation, not distract you with lyrics chock full of hidden meaning and symbolism that may catch your curiosity. Choose instrumental music over your favorite lyrical genius next time you need to work. A third option is to find something to listen to that’s not even music: nature sounds. Weirdly enough, trickling streams and the soft fall of rain are all random enough sounds that your brain doesn’t even bother with attempting pattern recognition. It’s a great way to mask office noise if music just isn’t working for you.

Ultimately, you’re looking for music (or nature sounds or white noise) that reduces diversions without becoming a diversion itself. Make this an opportunity to explore new kinds of music and try listening to them next time you need to focus on a project. And let me know if you find any hidden gems of slow classical music being performed in front of a gurgling mountain stream!

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¹ “Multitasking Damages Your Brain And Career, New Studies Suggest,” Travis Bradberry, Forbes, Oct 8, 2014, https://www.forbes.com/sites/travisbradberry/2014/10/08/multitasking-damages-your-brain-and-career-new-studies-suggest/#22ceaf9956ee

² “Does Classical Music Help Our Productivity?,” Adi Gaskell, Forbes, Mar 11, 2019, https://www.forbes.com/sites/adigaskell/2019/03/11/does-classical-music-help-our-productivity/#89f9fc411bba

October 26, 2020

Is Your Home An Investment?

Is Your Home An Investment?

It’s a law of the universe that your house is an investment, right?

Just ask your grandparents who bought a $250,000 home for $50,000 during the 1950s. Better yet, listen to your savvy landlord buddy who rules an urban real estate empire that they gobbled up following the Great Recession. We’re surrounded by evidence that conclusively demonstrates the power of houses as investments… or are we?

Hmmm.

It turns out that buying a place of residence may not actually pay off in the long run like it might appear on paper. Here’s why you might want to rethink having your primary residence be an investment only.

Houses (usually) don’t actually grow more valuable
Think about that suburban mansion your grandparents snagged for $50,000 that eventually “grew” to be worth $250,000. On paper, that looks like an awesome investment; that house quintupled in value! But remember, $1 in 1950 had about the purchasing power of $10 today. Four gallons of gas or two movie tickets were just one buck!¹ That means $50,000 at that time could buy a $539,249 house today. Your grandparents actually lost money on that house, even though it looked like they made off like bandits!

It’s all because of one simple feature of economics: inflation. Prices tend to rise over time, meaning that your dollar today doesn’t go as far as it would have in 1950. So while it looks like your grandparents netted a fortune on their house, they actually didn’t. They lost over half its value! Unless your neighborhood suddenly spikes in popularity with young professionals or you start renting, your house probably won’t accrue any real worth beyond inflation.

Houses have to be maintained
But it’s not just that houses usually don’t actually appreciate in value. They also cost money in property taxes, utilities, and maintenance. Homeowners spend, on average, $1,105 annually to maintain their dwelling places.² You can expect to pay $12,348 annually on the average mortgage and $2,060 for utilities.³ & ⁴ That comes out to a total of $15,513 per year on keeping the house and making it livable. Let’s say your home is worth about $230,000 and appreciates by 3.8% every year. It will grow in value by about $8,740 by the end of the year. That’s barely more than half of what it costs to keep the house up and running! Your house is hemorrhaging money, not turning a profit.

It’s important to note that homeownership can still generally be a good thing. It can protect you from coughing up all your money to a landlord. Buying a property in an up-and-coming neighborhood and renting it out can be a great way to supplement your income. Plus, there’s something special about owning a place and making it yours. But make no mistake; unless you strike real estate gold, your place of residence probably shouldn’t be (primarily) an investment. It can be home, but you might need to rely on it to help fund your retirement!

Market performance is based on many factors and cannot be predicted. This article is for informational purposes only and is not intended to promote any certain products, plans, or strategies for saving and/or investing that may be available to you. Any examples used in this article are hypothetical. Before investing or enacting a savings, investment, or retirement strategy, seek the advice of a licensed financial professional, accountant, and/or tax expert to discuss your options.

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Market performance is based on many factors and cannot be predicted. This article is for informational purposes only and is not intended to promote any certain products, plans, or strategies for saving and/or investing that may be available to you. Any examples used in this article are hypothetical. Before investing or enacting a savings, investment, or retirement strategy, seek the advice of a licensed financial professional, accountant, and/or tax expert to discuss your options.


“7 Things You Could Buy For $1 in 1950,” Megan Elliott, Showbiz Cheatsheet, Oct 9, 2016, https://www.cheatsheet.com/money-career/things-you-could-buy-for-1-dollar.html/

“How Much Should You Budget For Home Maintenance,” Paula Pant, The Balance, May 26, 2020, https://www.thebalance.com/home-maintenance-budget-453820

“National Average Monthly Mortgage Payment,” Hannah Rounds, LendingTree, July 11, 2018, https://www.lendingtree.com/home/mortgage/national-average-monthly-mortgage-payment/#:~:text=What%20is%20the%20average%20monthly,the%20typical%20homeowners'%20monthly%20income

“How much is the average household utility bill?,” Nationwide, https://www.nationwide.com/lc/resources/personal-finance/articles/average-cost-of-utilities#:~:text=The%20typical%20U.S.%20family%20spends,climate%2C%20and%20your%20usage%20patterns

May 11, 2020

When Wall Street Bailed Out Washington

When Wall Street Bailed Out Washington

We all know about government bailouts.

They’ve been around for a while. But did you know that the government was once bailed out by Wall Street?

Gold Runs
Dollars used to represent actual gold in the treasury—what we call the “gold standard”. Dollars had value because they could be traded in for gold. But here’s the catch; the US didn’t have gold to match every dollar floating around the economy. If everyone suddenly decided to trade in their dollars for gold, the government would eventually run out and have to start turning people away. Faith in the US economy would collapse.

This nightmare situation was called a gold run, and it was pretty common in the 19th century. But the Panic of 1893 was especially bad. European investors, startled by collapsing investments in South America, started what became a huge gold run on the U.S. Treasury, pulling out millions of dollars. People quickly started pulling their money out of banks, trying to secure as much of their cash as possible. The economy was in total meltdown.

J.P. Morgan Enters the Scene
Business mogul J.P. Morgan had enough powerful connections to realize that the U.S. Treasury was in deep trouble. Morgan wasn’t the wealthiest man in the world; his fortune of $120 million ($1.39 billion in 2020) was pocket change compared to the net worth of John D. Rockefeller, who would be worth about $340 billion today (1 & 2). But Morgan had influence and connections, and he was committed to bailing out the government.

However, there was a problem. Morgan and the gold standard were both unpopular. Grover Cleveland, president at the time, wasn’t excited about aligning himself with either to save the economy. Fortunately, Morgan had a trump card; he knew from inside sources that the government was almost literally within hours of defaulting. And he had done his research. An obscure statute from the Civil War allowed for the government to sell Morgan bonds while he gave them enough gold to avoid going broke. Cleveland knew he was picking his poison. He would either look like a Wall Street pawn or let his country go broke. But he eventually gave Morgan the bonds and accepted the gold.

The aftermath
It worked. The economy restabilized and the country was solvent. Cleveland lost his next election. Morgan continued to prosper. But the days of Wall Street bailouts were numbered. Business owners decided after a panic in 1913 that the government should be the one to fix economic downturns. And the Fed has been bailing out Wall Street ever since!

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May 4, 2020

Where Did Banks Come From?

Where Did Banks Come From?

Banks are so common that we never really question where they came from.

But banks actually have come a long way since they first got started. Here’s a quick lesson on the origins of banks!

The First Banks
Coins first came on the scene as a way to pay for goods or services around the 5th or 6th century BC. But there was a problem; where do you store huge troves of them? Homes were vulnerable to robbery. So people started trusting temples with their cash. They were everything you would want—accessible but still secure, temples were the perfect balance of public and prestigious. Eventually, temples started loaning out money in addition to protecting it.

Eventually, the Romans created distinct banking institutions. These were large-scale enterprises that developed enormous power; they could confiscate land from nobles if they weren’t paying back their obligations. Some of these institutions even outlasted the empire after it fell.

Medieval Banks
The Middle Ages were an odd time for banking. The Catholic Church developed strict rules about usury; lending money for profit was seen as decidedly unchristian. In a somewhat dark twist, small-time money lenders were often heavily regulated as the Church started employing private merchant bankers to fund its various exploits.

These bankers had one problem; they failed a lot. The Middle Ages were violent and kings often turned to papal bankers for war time loans. It wasn’t uncommon for rulers to default on these loans either due to defeat or costly victories, bankrupting lenders.

Goldsmiths and Endless War
This only got worse as wars became intercontinental during the Age of Discovery. The English in particular found themselves in constant war with both Spain and France and started looking for innovative ways of funding their conquests. Private citizens in England had started taking their money to goldsmiths for safekeeping. Goldsmiths often had huge vaults, meaning they could easily protect cash for a fee. They also started issuing notes that allowed customers to withdraw money as they needed.

The crown was not so lucky. The credit of England was so bad that by the end of the 1600s they couldn’t borrow enough money to build a navy. Merchants came together to form a centralized lending institution to raise money and make loans on behalf of the government. They started issuing bonds and banknotes to customers and essentially became one of the first centralized banks in the world.

Banking would evolve by leaps and bounds as the industrial revolution transformed European economies in the 18th and 19th centuries. But the foundations of modern banking had already been set to fuel the massive technological changes of the next few centuries.

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April 29, 2020

Budget Date Ideas

Budget Date Ideas

Budgeting might seem like the death knell for your dating life.

No more extravagant dinners? No more fun times at the movies? No more nights out on the town? How else can you keep that spark alive? But sometimes adding constrictions to your dating life can be a fun change of pace and actually spice things up. Here are some great budget-friendly date ideas.

Cook dinner together
An expensive dinner in a nice part of town is always a killer date idea. But it can start to add up if you’re not careful. That’s why cooking a special dinner at home as a couple is a great alternative. You save money on ingredients, you get real portion sizes that will last you for days, and it’s a fun activity that takes teamwork. Not a chef by nature? YouTube will be your best friend. There are tons of great recipe walkthroughs that will help you two knock this one out of the park!

Go on a hike
You should never tell your partner to take a hike. But you should definitely ask your partner to go on a hike! There’s nothing much better than some physical exertion in the great outdoors with someone you care about. Just remember that this one can add up if you’re not careful. Here are some pointers to make your hike a thrifty winner:

-Drive your most fuel efficient car

-Avoid cutesy stops full of expensive trinkets

-Research and see if the trail you’re hiking charges for parking

-Pack as much food as possible

Follow these tips and you might be surprised how inexpensive a trek can be!

Watch a sunset
Sunsets are incredible. There’s no reason that you and your significant other shouldn’t be sitting outside to take in the everyday beauty of the sun slipping behind the horizon. Any sunset is good, but here are a few steps you can take to find the absolute best sunset for your dollar!

-Choose the right day. The best sunsets typically occur a few hours after rain while there’s still a bit of cloud coverage. Too many clouds hide the sun, but just a few will catch the final light of the day. Check your forecast ahead of time!

-Choose the right location. You don’t have to go far to find the perfect sunset viewing spot. Watching the last beams of the sun shine through skyscrapers? Amazing. Hitting up a small, local airport to watch planes at twilight? Gorgeous. Bathing in the light of golden hour on your front porch with your gal (or guy) beside you? One for the books.

-Pack a picnic. Wherever you decide to watch the sunset with your partner, just remember to pack some food. It’s a great alternative to an atmospheric (and expensive) restaurant!

Creativity is key. The more inventive your budget date ideas are, the more memorable they’ll be. You might find yourself looking back on your budget dating years as some of the best and most exciting of your relationship!

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March 30, 2020

A Quick Guide to Influencers

A Quick Guide to Influencers

We all know the word influencer.

It probably conjures images of attractive young people setting weird trends on the internet that, let’s face it, don’t make a lot of sense. But the world of influencers, especially in social media, is more than fun and games. Huge amounts of money can be involved and fortunes get made almost overnight. This is a quick guide to the wild world of internet influencers.

What’s an influencer?
An influencer is technically anyone with the power to affect purchasing decisions. It’s a really broad net that includes old-school movie stars and musicians. But lately it’s used in a more specific way to refer to social media stars.

Social media is relatively new. Platforms started off with content from normal viewers. For instance, the first YouTube video is from 2005, only 19 seconds long, and is about elephants at a zoo (1). Some content hit it big back then and went viral, but there still wasn’t a way of using those 15 minutes of online fame to start a real career.

That started to change. People started following specific content makers, and certain personalities built huge followings. Some YouTube channels started getting more weekly views than television shows!

With those huge followings came the potential to advertise. Soon, social media icons started getting paid to promote products. Brands could get attention from a huge audience in key demographics just from an Instagram post or shoutout during a YouTube video.

Why they matter so much
But there’s more to social media marketing than audience size. What makes social media influencers so powerful is that they feel like someone you know. They give their followers a window into their thoughts, routines, and lives. A suggestion from them feels like advice from a friend.

This isn’t to say that social media influencers accurately present their lives to the world. Plenty of publicity stunts and carefully manicured public images exist online. What matters is that the interactions between influencer and follower feel personal and genuine. And there’s potentially a gold mine to be found in that appearance of authenticity if companies look to you for a recommendation.

Audience size is less important than you might think
Interestingly, this means that having a small audience doesn’t necessarily hamper an influencer’s impact. Having a social media personality who focuses on a highly specific field promoting your product to a few hundred followers can make a big difference. It’s more likely for those potential customers to feel like they’ve had a personal recommendation than they would after viewing a TV ad or even an online ad, thus increasing brand loyalty.

Influencers have become a key building block in any modern marketing strategy. They’re a perfect combination of accessibility and credibility that can hold the attention of a key demographic or get your name on the radar for millions of followers.

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February 19, 2020

A Brief History of Stock Exchanges

A Brief History of Stock Exchanges

Stock markets didn’t exist four hundred years ago.

Wealth was highly concentrated in the hands of monarchs, lords, and elite merchants, and trade was risky at best. Raising money for an expedition (or war) meant either asking for a loan, collecting taxes, or both.

A Whole New World
But something changed for Europeans in the 1400s. The Ottoman Turks captured Constantinople (now Istanbul) and effectively cut off trade routes that had always brought in goods and big profits from China. Things that were previously thought impossible suddenly sounded like worthwhile possibilities. One thing led to another and before long a fellow named Christopher Columbus had introduced Europeans to a massive continent rich in resources. Major powers like Spain, Portugal, France, and England started to seriously invest in getting as much out of this “New World” as they could!

Disease, Famine, and Risk Reduction
“What does any of this have to do with trading stocks?” you might ask. Well, imagine that you’re living in 16th century Europe and you decide you’ve had it with all this groveling and servitude and poverty and want to make some cash. The New World is your best option to make it big; land is easy to come by and there are plenty of new resources like tobacco to grow and sell. There’s just one problem: it’s insanely risky. Between disease, famine, and bad weather, there’s a good chance you’ll either die or lose everything in the attempt. So what can you do?

Traders realized that they could reduce how much they risked on an expedition if they got multiple people to chip in. Everybody would get a portion of the profits if everything went well, and if not, any losses would get spread out. It didn’t take long for people to figure out that selling small portions or “shares” of trading voyages was a great way to raise cash that didn’t require levying taxes or stumbling on massive gold deposits.

The First Coporation
At first, shares were only good for a single voyage. But the Dutch East India Company changed all of that in 1602. The Dutch government decided they wanted to dominate trade with Asia, and they looked to the public for funding. Shares were priced so that most merchants could buy in, and the promise of government backing and continuing profits convinced hundreds to purchase the stock. It worked. The Dutch East India company became one of the first truly transnational corporations in history and essentially became its own state, flooding the Dutch people with valuable resources and prosperity.

Everyone took note of the Dutch model and decided to imitate it. Publicly traded companies started to pop up across Europe, with stock exchanges becoming a place where anyone with the means could buy and sell shares of different corporations. It was a huge step away from the older model of raising capital and created a new kind of institution, one that continues to dominate the world of business to this day.

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January 29, 2020

Saving For Retirement: Where Do I Start?

Saving For Retirement: Where Do I Start?

We all know we should be saving for the future.

But depending on your stage in life, it might feel like retirement is either too far away or it’s too late in the game to make much of a difference. Regardless of your income—or which season of life you’re in—you can (and should) start saving for retirement. Here’s how to get started:

Make savings automatic
Have your employer deposit a set dollar amount or percentage from each paycheck to a savings account or your 401(k). It’s an effortless way to start loading your savings account while also reducing temptations to overspend.

Pay yourself first
Your attitude towards saving makes a big difference. It shouldn’t be something that is optional after all of your other spending. If you view saving the way you would a bill and pay it to yourself first, you will be far more likely to save.

Investigate IRA options
An IRA is a retirement account that invests your money in stocks and bonds. Many people opt for either a traditional IRA or a Roth IRA, though there are other types to choose from. The big difference between the traditional and the Roth is how and when their tax exemptions kick in. Contributions to the traditional are tax deductible until they are withdrawn. A Roth, on the other hand, gets taxed on contributions but withdrawals are tax deductible and get to grow tax free. The maximum amount you can contribute to an IRA is $6,000 – $7,000 per year (depending on your age), so you’ll need to consult your budget to see how much you can put away.

Establish your permanent lifestyle
It’s easy to be tempted to try to one-up our friends’ and neighbors’ lifestyles. But continually increasing your cost of living can set your retirement up for failure. Establish a basic amount of what it takes for you to live a comfortable lifestyle, and stick to that mode of living. Doing so can help you save money right now and also give you an idea of how much you’ll need to save for retirement.

Meet with a financial professional
Investing can be intimidating, especially when it’s your future on the line. Be sure to meet with a licensed professional before you make any big saving decisions. Getting an extra pair of qualified eyes on your goals and strategies is always a good move and can help bring you peace of mind about your retirement strategy!

Whether you’re just entering the workforce or retirement is right around the corner, there are many ways to contribute to your future. By adjusting your lifestyle, investing carefully, and making it a priority to prepare for the future, you can nurture your peace of mind and look forward to seeing how your financial strategy unfolds in your golden years.

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Market performance is based on many factors and cannot be predicted. This article is for informational purposes only and is not intended to promote any certain products, plans, or strategies for saving and/or investing that may be available to you. Any examples used in this article are hypothetical. Before investing or enacting a savings or retirement strategy, seek the advice of a licensed financial profes

October 22, 2018

Are you stressed about saving for retirement?

Are you stressed about saving for retirement?

Most of us might feel at least a little anxiety when the subject of preparing for retirement comes up.

Many Americans feel like they haven’t saved enough. In fact, 79% of American workers plan on working longer to make up for what they haven’t saved.[i]

But anticipating staying in the workforce may not be the best strategy when it comes to funding your golden years. Why? Because there are many unforeseen events that can affect your ability (or desire) to work – health problems, caretaking, loss of opportunity in your field… or just wanting to spend time with your grandkids or travel with your partner.

With so much uncertainty, it’s no wonder many Americans feel stressed, burdened, and unprepared when it comes to saving for retirement.

But don’t let retirement worries steal your joy. When it comes to saving for retirement there are a lot of choices you can make to help you prepare. Read on for some principles and tips that may help lessen your stress about the future.

Small changes add up
Retirement saving may seem like an insurmountable task when faced with the high cost of daily life. It’s easy to think we can’t afford to save for retirement and get stuck in a pattern of defeat. But small changes over time can add up to big results.

Shake off despair by implementing small strategies. Consistent saving adds up over time, and it can help build your finance muscle. Read on for some more easy tips.

Direct deposit
Set up a portion of your direct deposit to go straight into a savings account. This is a “set it and forget it” savings strategy, and you’ll be amazed how quickly it can build.

Save found money
Found money is extra cash that comes your way outside of your normal income. It can be from bonuses, gifts, or even a side gig. You weren’t planning on receiving that money anyway, so throw it right into your savings.

Practice frugality
Instead of becoming stressed out and hyper-focused on saving every possible penny, practice frugality. Frugal living can put your energy into something positive – creating a new habit and lifestyle. Also, frugal habits may help prepare you for living on a fixed income during retirement. Try these tips for starters:

Consider downsizing your home
Cut back or eliminate “extras” such as dining out, movies, and concerts When making a purchase, use any available coupons or discount codes Seek sources of free entertainment such as community festivals or neighborhood gatherings

Hire a financial professional
If no matter what you do you still can’t help feeling unprepared and stressed about your retirement, consider hiring a financial professional.

A financial professional may be able to help you change your perspective on preparing for retirement and help empower you with strategies custom made for you.

Remember, financial professionals work with people of all income levels, so don’t hesitate if you need help to get a handle on your retirement. They may assist with:

  • Creating a budget
  • Setting up savings accounts
  • Clarifying your retirement goals
  • Strategies for eliminating debt

Change your perspective on preparing for retirement
If you’re anxious about having enough money for your retirement, try changing your perspective. Focus on small goals and lifestyle habits. Frugality, consistent savings, and solid financial strategies may help take the stress out of retirement planning.

Consistency over time is the name of the game with retirement savings. So implement a few strategies that you can live with now.

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October 8, 2018

Retirement planning tips you can use right now

Retirement planning tips you can use right now

The sooner you start planning for retirement, the better off you’re going to be.

That’s hard to argue with. But no matter where you are on your retirement planning journey, there are always great financial planning steps you can take to help you get and stay on the road to a happy retirement.

Time is money
When it comes to retirement savings, the old expression, “Time is Money” means more than ever. It makes sense that the sooner you start saving, the more you’ll have when your retirement comes. But there’s a phenomenon you can take advantage of that can help your money grow while you’re saving.

It’s called compound interest. This is basically earning interest on the interest. This is how it works: Your principal investment earns interest. The following year, your principal plus last year’s interest earns interest. You could stuff the same amount of cash under your mattress – and you might be able to store away a hefty sum over the years that way – but with compound interest, your money can “grow”. Taking advantage of compound interest can be one of the best ways to build your retirement savings.

Starting to save in your 20s and 30s: Set yourself up
If you’re in your 20s or 30s and you’re already thinking about retirement – give yourself a pat on the back. This is the best time to begin planning for your golden years. At this age, a retirement strategy is probably going to be the most flexible, and it’s more likely that your retirement dream can become a reality.

One of the best tools to take advantage of during this time is an employer-sponsored 401(k) plan. Make sure you’re taking full advantage of it. There are two major benefits:

  1. Time: Remember compound interest? The more you invest now in a retirement savings plan, the more you’ll have come retirement time.
  2. Company match: This is the money your employer puts in your 401(k) plan for you. Most employers will match your contributions up to a certain percentage. It’s like free money. Be sure you don’t leave it on the table.

Starting in middle age: Maximize your retirement savings
If you’re in your middle years, you still have some advantages when it comes to a retirement strategy. First, retirement should feel a little less like a fantasy and more like reality at this age – it’s not too far beyond the horizon! Use this reality check as motivation to start some serious planning and saving.

Second, your earnings may be higher on the career curve than they were when you were just starting out. If so, this is a great time to go all out with your savings plan. Try these tips for starters:

  1. Consider an IRA: An IRA can function as a savings tool when you’ve maxed out your 401(k). The savings are pre-tax as well.
  2. Professional financial planning: If you’re having a hard time getting your head around retirement planning, seek financial planning expertise. A financial professional can help make sense of your particular retirement picture. This way you can better identify needs and create strategies to fill them.

Your 50s and 60s: Getting real about retirement income
This is the age when retirement planning gets real. You’re thinking may now shift from savings to distributions. The question that arises is how you’ll replace that paycheck you’ve been earning with another source of income, if you’re not willing or able to work beyond a certain age.

  1. Social security benefits: You become eligible to tap into your social security benefits at 60. You can collect full benefits at around 65, but if you wait until you’re 70, you’ll get the largest possible payout from social security.
  2. Distributions: When you’re 59 ½ you can take distributions from your retirement accounts without a penalty. But keep in mind those distributions may count as taxable income.

A good retirement favors the prepared
No matter where you are on the road to retirement, wise financial planning is the key to a happy and healthy retirement. Start today!

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This article is for informational purposes only and is not intended to promote any certain products, plans, or strategies for saving and/or investing that may be available to you. Market performance is based on many factors and cannot be predicted. Before investing or enacting a retirement strategy, seek the advice of a financial professional, accountant, and/or tax expert to discuss your options.

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