The median American household income was $53,657, while CEO pay had risen to an average of $16,316,000. But Google CEO is on another level. This year Google CEO Sundar Pichai will receive $199 million in restricted stock. Google typically grants the stock perks to executives every couple years to “encourages executives to take a long-term view of the business.” (bloomberg.com)
5 Lessons From Super Early Retirees
The early-retirement movement is getting popular as more people are exposed to the concept of reaching financial independence as soon as possible. Thomas Smale wrote on Entrepreneur, “those in the early-retirement movement do share one common trait: They typically adopt a contrarian mindset that produces a fascinating lifestyle, spending, and retirement planning insights.” Here are 5 lessons from people who retired at 40:
- They understand the math of financial independence
- They spend less, but are just as happy
- They invest early and over decades, not years
- They avoid high investment fees
- They buy cash-flowing assets
7 Sentences Successful People Never Say
After studying more than a thousand millionaires over three decades, Steve Siebold, author of “How Rich People Think,” find out that successful people never say these 7 sentences:
- “I hate my job”
- “That’s not fair”
- “That’s not how it’s done here”
- “That’s not my job”
- “That’s impossible”
- “I could have”
- “I have no choice”
10 Ways to Achieve Marital and Financial Bliss
Stephen T. Diltz, senior financial advisor, said: “Financial issues consistently are among the top reasons why marriages fail; complex emotions are tied to money. Whatever a couple’s biases, hopes and expectations are about money, they should commit to the responsibility of open and regular dialogue at the time they combine their finances.” US News & World Report offers 10 tips from financial experts to achieve marital and financial bliss. Newlyweds should get fresh by openning new accounts. Couple should also start joint account to make saving and spending more transparent. If you’re re-married with childred, you need to plan for separate assets. And prenup can be a good thing. (usnews.com)
Why Buying Low Cost Index Funds Is Always Recommended
The folks at Money Ning always recommend individual investor to buy low cost index funds. Here’s their view: “Low cost index funds on the other hand are much less volatile. No one will become rich overnight, but it is a much more dependable way to investing in equities. It gives us comfort that our portfolio wouldn’t get crushed if something horrible happens to any particular company (e.g. Enron), and will help us better see the long term benefits of investing in the stock market.” (moneyning.com)
Ways to Make Money From Valentine’s Day
American spends almost $19 billion per year for Valentine’s Day. For savvy entrepreneurs, you can make extra money during this special occasion. Wisebread shows you 13 ways to make money. Some tips include “create handmade Valentine’s cards, deliver stuff, play chef for a couple’s romantic dinner, babysit or pet sit, unload unwanted jewelry, promote your party-planning skills and host a singles party for all your lonely friends.” (wisebread.com)
3 Financial Lessons to Teach Your Children
While the United States is an economic superpower, we’re only ranked around the middle of developed countries when it comes to financial literacy for young people. Schools are not doing a good job educating our children about personal finance. Instead, parents must teach their children the basic financial knowledge to succeed in life. Here are three financial lessons from the Motley Fool for you to teach your children how to become financially literate: “How to open a bank account and balance a checkbook, how to wisely and effectively manage credit, and how to use compounding to your advantage.” (fool.com)
Guide to Borrowing Money from Peer-to-Peer Lending
Peer-to-peer (P2P) lending is getting popular as you probably heard about Prosper and Lending Club. Here’s a five-minute guide to borrowing money from P2P. “Online-only P2P platforms take money from savers and loan it out to carefully vetted borrowers including ordinary consumers, small businesses and even landlords. By cutting out the middleman such as banks and building societies, they should give savers and borrowers a better rate. P2P platforms still take their cut, but this is lower because they do not have to support large branch networks and thousands of staff.” Once you are into P2P, you need to be aware that it is riskier than deposit the money in the bank as it’s not back by FDIC. (express.co.uk)
Vanguard, a Champion of Low Fees, Faces Tax Challenge
David Danon, a former Vanguard tax lawyer, says in whistle-blower claim that Vanguard could owe billions of dollars in taxes on uncollected revenue. The lawsuit is just crazy as millions of shareholders could end up paying somewhat higher fees if Mr. Danon wins in court against Vanguard. Since Vanguard’s funds are owned by its shareholders, Vanguard’s overall fees are the lowest in the industry. While not taking in more profits are good for investors, Vanguard runs into a peculiar tax challenge. The New York Times shows Mr. Danon’s reason: “Because the Vanguard Group was set up as a C corporation, and not a partnership, it has potential tax liabilities, even if it does not actually earn a profit. And because it is owned by its mutual funds, for tax purposes, it is required to account for the profits that it could have earned if it had charged the higher fees that the marketplace would have borne.” While Mr. Danon is waiting for a big pay day to collect up to 30% Vanguard’s penalty, a New York judge dismissed Mr. Danon’s suit in November. For now there’s no reason for Vanguard shareholders to transfer their money to another company. (nytimes.com)
Which State is the Worst for Retirement When It Comes to Taxes?
After analyzing all 50 states and the District of Columbia, Kiplinger has an answer for which state is the worst for retirement when it comes to Taxes. Vermont gets the unenviable prize as the worst state for retirement with high property tax, 6% sales tax, high income tax rate and estate tax. Also, most forms of retirement income are taxed. (kiplinger.com)
Developing a Super Bowl-Like Game Plan for Your Money
Joni Lindquist wrote for Financial Planning Association of Greater Kansas City: “It occurred to me that building a Super Bowl team has some similarities to building your own personal financial plan. The obvious one is that both require discipline to be successful. A great football team needs the discipline to follow the game plan, with individuals executing their assigned task on every play. It takes physical discipline to get in shape to play the game at the highest level. When it comes to personal financial planning, it also takes discipline to stick to your plan and dedication to advance your career and increase your income.” Here are the suggestions: Clarifying and setting goals, building a plan, and taking action. (kansascity.com)
29 Easy Ways to Build Emergency Fund
Having an emergency fund means having one less thing to worry about when the unexpected happens. Here are 29 ways to build your emergency fund out of thin air from Get Rich Slowly. These stealth savings can help you build up the needed fund for rainy days. For instance, to build up the emergency fund you should bank all your rewards, bonus and raise. Make saving a challenge and drop bad habits such as smoking or drinking. (getrichslowly.org)
Why Simplicity Is a Hard Sell for Investors
Canadian Couch Potato recently overhauled his portfolio to switch to a three-fund portfolio, but he got emails from his unconvinced readers. To explain why simple is still a hard sell, Canadian Couch Potato cited some insights from Ben Carlson’s book, A Wealth of Common Sense. Carlson observed that, “I’ve spent my entire career working in portfolio management. This experience has taught me that less is always more when making investment decisions. Simplicity trumps complexity.” Carlson also explained that “trying harder does not mean doing better in the financial markets. In fact, trying harder is probably one of the easiest ways to achieve below average performance.”
The Sad Financial Future For Many NFL Players
The Super Bowl, one of the world’s most-watched sporting events, is coming this weekend and many players will see financial bonuses and bigger contracts. However, behind the scene there’s the sad financial future that awaits many NFL players, as more than 15% of the players declared bankruptcy post-NFL retirement. The Wall Street Journal has three advices for anyone who earns a lot of money in a very lucrative short-lived career: Becoming financially literate, learning to manage money, and choosing a pay structure wisely. (wsj.com)
Stream Movies and TV Shows for Free on Torrents
Earlier we show that you can watch all the TV you want without paying a cable bill, but it’s not completely free. Now there’s a way to stream movies and TV shows for free on torrents. According to Venture Beat, “on Tuesday a new simple solution for streaming torrents directly in your browser showed up on the Web. By Friday, infamous torrent site The Pirate Bay had already adopted it using Torrents Time that provides an embedded torrent client that lets users download and play the files inside torrents with one click.” Now you can play movies, TV shows, and any other videos directly in your browser. (venturebeat.com)
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