Money management quotes – Commonfolk Using Common Sense http://commonfolkusingcommonsense.com/ Tue, 13 Sep 2022 09:04:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://commonfolkusingcommonsense.com/wp-content/uploads/2021/06/icon-99.png Money management quotes – Commonfolk Using Common Sense http://commonfolkusingcommonsense.com/ 32 32 Best Cryptocurrency Exchanges and Trading Apps in September 2022 https://commonfolkusingcommonsense.com/best-cryptocurrency-exchanges-and-trading-apps-in-september-2022/ Thu, 01 Sep 2022 07:00:00 +0000 https://commonfolkusingcommonsense.com/best-cryptocurrency-exchanges-and-trading-apps-in-september-2022/ While cryptocurrency has grown in popularity in recent years, only a small minority of Americans have actually traded it. Some of the most popular cryptos include Bitcoin, Ethereum, and Dogecoin, each of which has seen a lot of action over the past year. The attraction for traders? The potential to make big money on the […]]]>

While cryptocurrency has grown in popularity in recent years, only a small minority of Americans have actually traded it. Some of the most popular cryptos include Bitcoin, Ethereum, and Dogecoin, each of which has seen a lot of action over the past year. The attraction for traders? The potential to make big money on the volatility of these highly speculative assets.

More and more, traders have more and more ways to access cryptocurrencies. New exchanges and trading platforms have started in response to the widespread interest in crypto. In fact, you might already have an app on your phone that lets you trade. For example, if you have the PayPal or Venmo app, you can buy and sell at least a few different cryptocurrency coins. But other apps and exchanges give you access to a wider selection of cryptocurrencies – there are literally thousands of them – or offer other benefits such as lower cost.

Below are some of the best apps and exchanges for crypto trading and some of the key things you need to know.

Best apps and exchanges for cryptocurrency trading in September 2022

The platforms below include specialized crypto exchanges, online brokers, and payment and payment apps. We’ve included the prices as well as the number of coins you can trade, so you can get an idea of ​​the scope of each app or trade.

If you want to exclusively trade the biggest cryptocurrency, Bitcoin, it might not make sense to opt for an app that offers you dozens of others. On the other hand, if you are looking to trade whatever is hot right now, consider an app or trade with more variety.

Bittrex

Bittrex is an attractive option for crypto traders thanks to its simple and inexpensive commissions, especially for those trading large volumes. If you trade less than $50,000 every 30 days, you will pay between 0.25 and 0.35% commissions, but the fees drop quickly from there if you trade a lot of money. Additionally, Bittrex does not charge USD deposits or ACH withdrawals.

Cryptocurrency enthusiasts will also appreciate Bittrex’s offering of over 250 cryptocurrencies to trade. You’ll find all the most popular coins, including Bitcoin, Ethereum, and Dogecoin, as well as the more obscure listings.

Cost: Fees start at 0.35% and drop off sharply for high volume traders.

Coins available for trade: Over 250 coins including Bitcoin, Ethereum, Dogecoin and Litecoin

Binance.FR

Binance.US, which is the US branch of the largest Binance organization, is one of the best crypto exchanges due to its low trading costs. Traders with less than $50,000 in trading volume in the previous 30 days will only pay 0.10%, and the fee decreases from there for high volume traders. Additionally, if you use Binance’s internal coin, BNB, to pay trading fees, you will receive a 25% discount.

You will also be able to trade 117 different cryptocurrencies on Binance, so you should have no trouble finding what you are looking for, especially if you just want to trade the most popular coins.

Cost: 0.10%, but lower for high volume traders. A 25% rebate is available if you pay trading fees with BNB.

Coins available for trade: 117 coins including Bitcoin, Ethereum, Solana, Cardano and more

eToro

The eToro broker is all crypto, all the time (at least for US traders, although others may trade stocks). At eToro, you’ll have access to 63 cryptocurrencies, including several, such as Tezos, Uniswap, and Polygon, that you wouldn’t normally find on traditional brokerage apps. The app does not charge a direct commission, but rather a flat 1% markup regardless of which coin you buy or how much.

Cost: No commission, but 1% surcharge

Coins available for trade: 63 cryptos, including Bitcoin, Ethereum, Dogecoin and more

Coinbase

Coinbase is a specialized cryptocurrency exchange that lets you trade a bunch of digital currencies, 174 at last count. This range will likely scratch your crypto itch, as it includes most of the top coins, including Bitcoin, of course. But what will you pay to use the basic service? Unfortunately, Coinbase has become more suspicious of what you will pay to trade, recently hiding the fee structure on its website.

When visible, the fee structure was complex, to say the least. You would pay a markup of around 0.5% and transaction fees which depended on the size of the transaction and the source of funding. For Coinbase Pro, you’ll pay a fee that starts at 0.6% for transactions under $10,000 and decreases to 0.15% for volume up to $100,000, then drops even lower.

Cost: Usually at least 1.99% (lower with Coinbase Pro)

Coins available for trade: A huge 174, including Bitcoin, Ethereum, Cardano and Solana

kraken

Kraken is another specialty cryptocurrency exchange that lets you trade a ton of different coins, including popular ones as well as some (Solana, Uniswap, Cardano and more) that aren’t usually available on regular financial apps. . In total, the exchange supports trading over 175 cryptos. Kraken does not offer its services to residents of New York and Washington State.

Kraken typically charges a fee of 1.5% (or 0.9% for stablecoins), but debit or credit card transactions incur a fee of 3.75% plus 25 euro cents, and you may be hit by a 0.5% online banking processing fee if you fund through a bank. But the prices drop significantly if you use Kraken Pro. Fees start in a range of 0.16-0.26% at the lowest volume levels and decrease to a range of 0-0.1% with volume of $10 million or more over the course of 30 last days. Wealthy traders can also access margin trading, which increases their buying power (and risk).

Cost: 1.5% fee, plus fees for cards and online banking (lower with Kraken Pro)

Coins available for trade: 175 of them, including Bitcoin, Ethereum, Solana and Uniswap

Robin Hood

You might know Robinhood for its nifty trading app for stocks, options, and ETFs, but it also extends to cryptocurrencies. Moreover, it brings its commission-free structure to the crypto world. Although trading may seem free, Robinhood charges a premium margin rather than a direct commission, which means that the costs are built into the price of buying or selling a coin. You can get started almost immediately with Robinhood’s instant transfer feature, so just download and go.

Cost: $0, or no commission, but there is a spread markup

Coins available for trade: Twelve of them (some not available in all states) including Bitcoin, Dogecoin, and Ethereum

Webbull

Webull may not be the poster child for trading apps, but its feature set seems a cut above that of Robinhood. Like its well-known rival, Webull offers stocks, options, ETFs and cryptocurrencies with no outlays. And similarly, Webull works on a profit margin for its crypto trades, so your cost is built into the trade. You can also trade a few more coins than you can at Robinhood, including Cardano.

Cost: No commission, but margin plus 1% (100 basis points)

Coins available for trade: 62 different types, including Bitcoin, Ethereum and Cardano

cash app

When you think of cryptocurrency, you might not think of Cash App at first. The financial application is best known for its cash management account or its ability to trade stocks and ETFs. But it also offers the possibility of trading cryptos, although only one – Bitcoin. While you can send Bitcoins to other users for free, Cash App charges what it calls a “small commission” for trading the coin, which it will disclose before you make the trade. This is in addition to a spread markup built into the trade itself. Unfortunately, it does not disclose its exact pricing structure.

Cost: Spread markup plus trading fee

Coins available for trade: Bitcoin only

PayPal

Like Cash App, you might already have PayPal installed on your phone, and if so, you could be up and running with cryptocurrency trading in seconds from now. PayPal charges a fee for any transaction as well as prices within a trade markup margin. Fees start at 49 cents for transactions under $5, then gradually increase to $2.49 for transactions up to $200. It then changes to a percentage that decreases to 1.5% for trades over $1,000. Helpful, PayPal clearly lists its fee structure for everyone to see. PayPal’s sister app, Venmo, offers the same services on similar terms.

Cost: Allocation margin plus trading fees that start at 49 cents and decrease to 1.5%

Coins available for trade: Four different cryptos – Bitcoin, Ethereum, Litecoin and Bitcoin Cash

At the end of the line

The best crypto app or exchange for you depends on your needs. If you’re looking to trade a wide range of digital currencies, consider an app or exchange that allows you to do so. But if you prefer to stick mainly to the main ones such as Bitcoin, Ethereum and a handful of others, then most of the platforms mentioned here can do the job. But cost is also an important factor, so keep that in mind before opening an account.

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are cautioned that past performance of investment products does not guarantee future price appreciation.

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What to do when your plan’s case manager or advisor is acquired https://commonfolkusingcommonsense.com/what-to-do-when-your-plans-case-manager-or-advisor-is-acquired/ Tue, 30 Aug 2022 13:57:32 +0000 https://commonfolkusingcommonsense.com/what-to-do-when-your-plans-case-manager-or-advisor-is-acquired/ During a recent TPSU program, a plan sponsor shared the issues she is having following the acquisition of her records manager. Even though she conducted extensive due diligence on the new vendor, a well-known Fab Five registrar with more than enough resources and technology, she still encounters problems. The problems stem from the fact that […]]]>

During a recent TPSU program, a plan sponsor shared the issues she is having following the acquisition of her records manager. Even though she conducted extensive due diligence on the new vendor, a well-known Fab Five registrar with more than enough resources and technology, she still encounters problems.

The problems stem from the fact that his service team at the former accountant, who intended to stay after the acquisition, eventually left. The plan sponsor was left on his own, assigned to a new team trying to navigate new systems and procedures. Yet, as unhappy as she is, she is once again hesitant to switch providers, as it could upset the employees.

At the same time, another plan sponsor participating in the TPSU program who uses the acquiring provider was very happy because this records manager helped his company conduct an acquisition and significant downsizing on its own.

A cautionary tale indeed as greater consolidation of record keeping is expected with 44 national providers while only five have significant scale with over 10 million participants.

All of this raises the question of whether plan sponsors should conduct a written due diligence process and request for proposals when acquiring their pension advisor, which is happening more frequently as this industry matures. consolidated.

Even if the lead RPA remains with the new company, it’s more likely than not that some aspects of the service model will change, along with the supporting people and technology. There may be new rates and new services offered that the plan may or may not want, while other services may be discontinued. The question is not whether the new relationship is as good or better, the question is whether it is different and appropriate for the plan and the participants.

Because all ERISA plans must perform careful, documented due diligence periodically, but especially when acquiring their service provider or advisor if they are being paid from plan assets. Even if he were paid directly, it would be prudent business practice.

Just as it is not acceptable for a plan to accept a proprietary date fund from a registrar without documented and careful due diligence, a plan cannot accept a new vendor or advisor relationship without the same careful process.

The problem for plans when their advisor is acquired or even changes company, broker or RIA is who will help them perform the due diligence as a prudent expert? Advisors can assist registrars, fund managers and even third-party administrators in their acquisition, but just as with the required periodic RPA due diligence and request for proposals, the advisor cannot conduct an unbiased review of himself or his new business.

Even with proper due diligence, unforeseen changes can occur, as was the case with the plan sponsor participating in the TPSU program. His service team, who intended to stay after the sale, ended up leaving, which is more than likely with any sale. The same can happen with consulting firms, and even if the lead RPA stays on for a while due to an earn-out, their service team or service model may change.

So, while there’s no way to predict what will happen, the prudent course for any plan sponsor whose service provider is acquired is to conduct a thorough and careful due diligence process, obtaining offers other companies as well as service guarantees and quotes even from the acquiring company.

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“The backlash of the silent resignation recalls another attempt by the ruling class to put the working people in their grip: ‘Am I wrong? https://commonfolkusingcommonsense.com/the-backlash-of-the-silent-resignation-recalls-another-attempt-by-the-ruling-class-to-put-the-working-people-in-their-grip-am-i-wrong/ Fri, 26 Aug 2022 04:51:00 +0000 https://commonfolkusingcommonsense.com/the-backlash-of-the-silent-resignation-recalls-another-attempt-by-the-ruling-class-to-put-the-working-people-in-their-grip-am-i-wrong/ By Quentin Fottrell “When working from home, it’s easy to end up working constantly, which can lead to burnout and worker dissatisfaction” Dear Moneylist, I have something to come out of my chest. Please support me. We have learned a lot from (more than) two years of pandemic life. Among these lessons: 1. We can […]]]>

By Quentin Fottrell

“When working from home, it’s easy to end up working constantly, which can lead to burnout and worker dissatisfaction”

Dear Moneylist,

I have something to come out of my chest. Please support me.

We have learned a lot from (more than) two years of pandemic life. Among these lessons:

1. We can be really efficient and productive working from home.

2. When working from home, it’s easy to end up working constantly, which can lead to worker burnout and dissatisfaction (hello, big quit).

3. It is important for workers to draw personal and professional boundaries.

When I read this story about the “silent shutdown”, I was struck by how the interviewees were doing the things we were encouraged to do and our employees were encouraged to do: work reasonable hours , not working on holidays and aiming for work/life balance.

The “silent quitters” featured had experienced serious physical and mental health issues associated with their work, and now, after setting some boundaries, are overall happier, healthier people and effective employees. “I still work so hard. I still accomplish so much. I don’t stress and tear myself up internally,” one said.

The purpose of this story seemed to normalize a toxic work environment where people sacrifice themselves and their families in exchange for the chance to gain their employer’s approval.

This follow-up story on the silent ‘blowback’ is filled with quotes from bosses who mourn the death of the ‘hustle culture’ and say silent quitters sell themselves short, and a lead quote from the passionate sleep Arianna Huffington, who says that these people are “stopping living”.

This backlash to silent resignation looks like another attempt by the ruling class to rein in workers.

So, Mr. Moneyist, what do you think of the silent shutdown? Do employees fall asleep at work? Or are they doing something they should have done a long time ago, putting their careers back in their place?

Sick and tired of being sick and tired

Dear Sick and Tired,

At the start of the pandemic, I made a promise to myself: “Don’t worry about things that are beyond your control.” I wore a mask and did whatever was asked of me. I worked from home. I went for a walk around the reservoir in Central Park. And, yes, I dug myself into the job. It was a unique time, and we needed to stick together and weed out misinformation for our readers.

And yet, I was also “quietly quitting” – and I didn’t even know it. How can I know? Because even though my commitment to my work was high, my stress level was surprisingly low. Some days I probably worked too many hours. The other days, I paced myself and took regular breaks, and I finished my day at 6 p.m. sharp. It was not a contradiction. It was a balance. And a healthy one.

But there was a change: I still loved my job, but my job was no longer a God-shaped hole – something that gave me value or identity, and distracted me from all the other great things. of life. Today, I need contact with people more than ever, inside and outside of work. All other things — from office politics to extraneous factors that usually vex or obsess us — have taken a back seat.

Quitting smoking quietly does not mean dodging. This does not mean that people unionize without being officially unionized. It doesn’t even mean disconnect regardless of time limits. It means taking a measured view of your work and not letting it grow bigger than you or the things that matter in your life: family, friends, downtime, our favorite childhood hobbies that we give up when we let’s start our professional life.

I asked Nicholas Bloom, an economics professor at Stanford University and a leading researcher on remote work, his opinion on silent shutdown. He says companies must take responsibility for the emergence of this trend in the first place. “Overall, I think silent abandonment is more embarrassing for companies that it happens to,” he said.

“The big lesson from the pandemic is that for employees working from home, you need good performance appraisal systems,” he added. “When employees are in the office, you can see if they are working in the office, typing, or meeting with co-workers. At home, you can’t see that and we really don’t want a tracking software. surveillance scary because it is nasty and invasive.”

Bloom said companies need to look at their own systems for reviewing an employee’s performance so that both parties feel respected and trusted. “This means regularly evaluating employees through 360-degree reviews in terms of sales, reports, presentations, customer volume, etc., to provide strong follow-up and incentives for employees to work hard and effectively.”

“If an employee can only achieve 50% performance in a job and no one notices, that’s quite embarrassing for the company,” he added. “Employees who talk about it publicly shouldn’t be ashamed – it’s the classic shoot-the-messenger reaction. The company needs to tighten up its performance review process because for every silent quitter, there are undoubtedly 10 other silent loafers.”

Next, I direct your question to Tessa West, a professor of social psychology at New York University with a particular interest in work behavior and author of “Jerks at Work: Toxic Coworkers and What to Do About Them.” healthy development, she told me, but added, “That’s a misuse of a term that really means drawing boundaries.”

The problem, West said, is that people quit in two ways: “The first is more identity-based. It means working less to counter the cultural phenomenon of hustle culture. People who identify as silent quitters often wear it on their sleeves as a statement of the type of person you want to be – and one that will carry you from job to job.

The second is more reactionary to your specific job, West added. “It means giving the boss the middle finger for demanding, somewhat arbitrarily, that he can’t work from home – or some other demand that he says doesn’t make sense.” This type of silent abandonment is counterproductive, she added, due to a lack of two-way communication, as well as a lack of trust.

She clearly disapproves of him. “It reminds me of stonewalling in close relationships – you’re mad at your partner so you shut down, fold your arms, refuse to make eye contact and refuse to commit. That’s one of the biggest divorce predictors. And bosses don’t. It’s not like being stuck. And maybe the boss deserves it, but that doesn’t matter. In that case, West concluded, no one wins.

So quietly quitting requires soul-searching from workers and employers. Companies that want to make silent quitting a battleground for the hearts and minds of employees should learn to quit silently, because they don’t realize there’s room for work. valuable and substantial without the nervous tension that work often brings, and without the “them” versus “us” mindset.

A company that wants to end the “silent quitting” phenomenon doesn’t understand the value of a fully present and engaged employee. It’s a company that doesn’t understand that employees are people, not minions who need to be rushed and micro-managed. Similarly, an employee who says “Not my problem” at 6:01 p.m. is not someone who understands that they are part of a team.

Silent Surrender is a perfect example of employees managing and showing management that there is a third way – an alternative to both slacking off and watching the clock. I hope this is a wake-up call for companies that their people need time and space to expire, and not bring work home with them, or sacrifice their mental health, hobbies or their mental health so that a company can achieve its goals.

The beauty and challenge of quitting smoking quietly is that it will mean different things to different people. Quitting quietly won’t turn a good employee into a bad employee, but it can turn a bad employee into a more controlled employee. In its most positive form, it’s about right-sizing our jobs and managing our careers in ways that help us become happier human beings and more productive employees.

We can draw a line between the two and recognize the difference.

Learn how to shake up your financial routine at the Best New Ideas in Money Festival on September 21-22 in New York City. Join Carrie Schwab, President of the Charles Schwab Foundation.

Check out the private Moneyist Facebook group, where we seek answers to life’s trickiest money problems. Readers write to me with all sorts of dilemmas. Ask your questions, tell me what you want to know more or weigh in on the latest Moneyist columns.

The Moneyist regrets not being able to answer the questions individually.

By emailing your questions, you agree to have them published anonymously on MarketWatch. By submitting your story to Dow Jones & Co., the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Read also :

“I committed financial infidelity”: I racked up $50,000 in debt to help my struggling son – and didn’t tell my husband. How to get out of this mess?

“He pays half the bills for the house, although six adults live there”: my son lives with his father and stepmother. They take advantage of him. How can I get it out?

“I’m stuck in a penniless mindset”: My partner and I bought a house, but he only wants to buy high-end items. How can we agree?

-Quentin Fottrell

 

(END) Dow Jones Newswire

08-26-22 0051ET

Copyright (c) 2022 Dow Jones & Company, Inc.

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5 Ways to Rethink Your Finances for Inflation – Forbes Advisor https://commonfolkusingcommonsense.com/5-ways-to-rethink-your-finances-for-inflation-forbes-advisor/ Thu, 25 Aug 2022 22:01:00 +0000 https://commonfolkusingcommonsense.com/5-ways-to-rethink-your-finances-for-inflation-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Inflation eats away at your money. February’s CPI inflation report shows the price of goods and services rose 7.9% from the same period last year, the highest rate of inflation since January […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Inflation eats away at your money. February’s CPI inflation report shows the price of goods and services rose 7.9% from the same period last year, the highest rate of inflation since January 1982.

US households are feeling the pressure of rising prices on their finances. The majority of respondents in a recent Forbes Advisor-Ipsos Consumer Confidence Biweekly Tracker report are very concerned or somewhat concerned about rising gas prices, inflation and rising grocery bills.

With Russia’s invasion of Ukraine worsening Covid-19 supply chain disruptions, experts warn inflation is here to stay for the foreseeable future, making now a good opportunity for consumers to rethink their overall financial strategy.

How to Reassess Your Finances During Inflation

If you find your money scattered around these days, you are not alone. According to a recent New York Times and Momentive survey, 40% of adults say their families are worse off financially than they were before the pandemic.

If your spending allowance isn’t lasting as long as it used to, or you’re starting to feel nervous about your investment portfolio, follow these five steps to rethink and adjust your financial plan.

1. Know where you stand

Before you start reorganizing your finances, you’ll want to know where you personally stand with inflation; calculating your personal inflation rate can help you do this.

A personal inflation rate is more specific than the national inflation rate commonly quoted in headlines. If you are someone who does not eat a lot of meat, for example, you have managed to avoid buying products whose prices are among the highest to date. If you regularly eat takeout or dine out, you’re paying more for every order than you did a year ago.

To calculate your personal inflation rate, subtract your monthly expenses from a year ago from your current monthly expenses. Then divide that difference by your monthly expenses from a year ago. For example, if your current monthly expenses are $2,500 and they were $2,100 a year ago, your personal inflation rate is 19%.

Your personal inflation rate will help you understand why you feel like your money isn’t stretching as far as it used to and can motivate you to reduce unnecessary expenses or fees in your budget.

Read more: How to calculate your personal inflation rate

2. Be smart with budgeting

Once you understand your expenses and your personal inflation rate, it’s time to get back to budgeting basics.

A budget is what creates a solid foundation in anyone’s financial plan. Even if you don’t track your budget down to the last dollar, knowing how much money is coming in and going out each month will help you identify opportunities to increase your income.

Inflation budgeting requires going through your budget with a fine-toothed comb and looking at each section from a savings perspective. Examine your debt repayment category: are there opportunities to save money on interest payments, either by consolidating credit card debt into a 0% balance transfer or a personal loan with a lower fixed rate?

For example, transferring a credit card balance of $4,500 with a 14% interest rate to a 0% balance transfer card with a 2% balance transfer fee can save you nearly $1,000 in total (assuming you pay off your balance within the 12-month introductory rate period). Most 0% interest balance transfer cards are generally only offered to consumers with very good or excellent credit. This strategy will therefore not apply to everyone.

Read more: Balance Transfer Calculator

If you’re an avid credit card user, you can easily lose control of your budget when using your card for everyday purchases, especially if you don’t pay close attention to cost increases over time. Studies show that it’s easier to overspend with credit cards because it eliminates the physical process of handing over cash, making it difficult for consumers to really understand how much they’re spending.

However, it is possible to maintain your budget while using credit cards. For example, you can create a monthly spending limit and set up notifications that let you know when you’re approaching that limit. You can also store rewards or cash back earnings to redeem for a month when unexpected costs arise, so you don’t have to dip into your emergency fund to cover the tab.

3. Cut unnecessary costs

Inflation is already taking a significant chunk of your income; don’t let miscellaneous fees get in the way too.

Almost all financial products charge fees, from credit cards to bank accounts to prepaid debit cards. Although some are unavoidable, there are some fees you can eliminate from your expenses.

Credit cards, for example, can incur a host of fees, including late fees, returned payment fees, and overlimit fees. Avoid them by paying attention to the fine print in your user agreement, how much you spend on your card, and when your bill is due.

Read more: 9 common credit card fees and how to avoid them

Annual fees on credit cards are another story. In some cases, the high annual fees on rewards cards can essentially “pay itself” if you take advantage of all the benefits of the card, such as spending a lot of time in airport lounges.

But if you’re someone who travels maybe once a year, that high-fee travel rewards card might not be worth paying for, and you should consider canceling it. Keep in mind that closing credit accounts can temporarily affect your credit scores.

But you could still be a victim of charges if you primarily use a debit card linked to your checking account. The average overdraft fee is $25, according to Forbes Advisor’s 2021 Current Account Fee Survey, and some banks charge upwards of $5 a month just to maintain the account. If your checking account is continually charging you high fees, consider switching to an online bank or credit union; both tend to charge less. In 2022, Citi® became the first major U.S. bank to completely eliminate overdraft fees.

Some banks will even charge monthly minimum balance fees on checking accounts, which means that if you don’t keep a minimum amount of money in the account, you will be charged. This can be especially painful if you live paycheck to paycheck. This list of no-fee chequing accounts includes several options with no monthly balance requirements.

Read more: Checking that account fees are still expensive: how to avoid them

4. Stay the course with investments

Now that the Federal Reserve is raising rates in an effort to control inflation, investors are hesitant. You might be tempted to tinker with your investment portfolio during volatility, but you shouldn’t. The general rule of investing still applies: stick to your long-term plan.

You probably want to stay invested in stocks during these uncertain times, especially in your retirement accounts. Although 401(k) loans are an option if you need immediate funds, taking out a loan now means you’ll miss out on compound interest for the future.

These loans also carry risks. If you quit your job, you will need to repay the loan before tax day, or it will be considered an early withdrawal subject to tax and a penalty.

Read more: Is the United States Heading for Another Recession?

5. Track your savings

In times of high inflation, you may wonder if now is the time to cut your savings. But that could leave money on the table.

The Federal Reserve is expected to raise interest rates up to six times this year in an attempt to curb inflation. Savings account rates may not rise immediately, but eventually banks will come under pressure to raise interest rates on savings accounts. Getting into the habit of saving now means you’ll have more money for compound interest once rates go up.

If you’re already contributing to savings goals, now might be a good time to review them. If you’re running out of money to spend each month due to rising prices, can you extend your savings goals for a few more months?

Keep in mind that all financial journeys are a marathon, not a sprint, and this may be your chance to find a new rhythm.

Read more: How the Fed’s interest rate hike will affect savings accounts

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Borrowers Respond to Student Debt Relief https://commonfolkusingcommonsense.com/borrowers-respond-to-student-debt-relief/ Wed, 24 Aug 2022 19:28:00 +0000 https://commonfolkusingcommonsense.com/borrowers-respond-to-student-debt-relief/ For some of the 45 million Americans with student loans, the Biden administration’s debt relief package is welcome relief, if long overdue. To others, it feels like a band-aid over a worsening injury. President Joe Biden announced on Wednesday that the government would forgive $10,000 in loans for borrowers who earn less than $125,000 a […]]]>

For some of the 45 million Americans with student loans, the Biden administration’s debt relief package is welcome relief, if long overdue. To others, it feels like a band-aid over a worsening injury.

President Joe Biden announced on Wednesday that the government would forgive $10,000 in loans for borrowers who earn less than $125,000 a year and $20,000 for Pell Grant recipients, who must demonstrate exceptional financial need. The president will also extend the moratorium on student debt repayment until Dec. 31 and cap undergraduate loan repayment at 5% of the borrower’s monthly income.

The forgiveness only applies to federal loans, which make up about 92% of the total student loan debt of $1.7 trillion.

In keeping with my campaign promise, my administration is announcing a plan to give working-class and middle-class families a break as they prepare to resume federal student loan repayments in January 2023.

I will have more details this afternoon. pic.twitter.com/kuZNqoMe4I

— President Biden (@POTUS) August 24, 2022

The development comes after the Trump administration implemented a federal student loan moratorium in March 2020 that both deferred payments and set interest rates at 0%. The freeze was intended to provide temporary support to people who lost their jobs at the start of the pandemic. It has now been extended seven times, including today’s announcement.

The freeze gave debtors a chance to catch up on credit card bills, improve their credit scores and save for the first time. With inflation at its highest level in 40 years, the freeze also helped people who were just trying to make ends meet. Feelings are mixed about whether forgiving $10,000 is a meaningful solution to the student debt crisis, with many Americans saying the government should work to make college more affordable for the next generation.

Here’s what some borrowers had to say about the forgiveness plan. These quotes have been edited and condensed for clarity.

The college professor with his own loans

“I’m going to take it, but is it going to affect my life that badly?” Not long term. I kind of made peace that I will repay my loans until the end of time. I returned to school for my PhD in Education in January 2021 and now have $85,000 in loans. I will probably borrow about $15,000 more for this academic year. Because I work in higher education, I should be eligible for a possible pardon, but I don’t until I’m full time in a school. Part of me wants to be idealistic and thinks that forgiveness will come someday in the next two years. It would change my life. I could save my money, leave my parents’ house and start a real life on my own.

Amanda Connelly, 33, West Long Branch, New Jersey

The strategist who has paid off most of his loans (and doesn’t qualify for forgiveness)

“I attended undergrad from 2004 to 2006 and didn’t graduate. I still came away with about $65,000 in loans and my current balance is about $3,800. At this point in time my life, I can’t say that my loans have a big impact on my daily life, but they certainly have an impact on my future goals, like buying a house or opening a small business. forgiveness won’t really affect me because I made too much money last year, but I think it’s great. It’s crazy to think that we’re expected to take these big life decisions with lasting financial implications, especially when people are 17 or 18 years old.

Emma Cardenas, 36, Los Angeles

The lawyer with $277,000 in debt

“My loans don’t have a day-to-day impact, but they certainly have an impact on my future goals. I accepted a position as a public/government attorney partly because I like the job and partly because of [Public Student Loan  Forgiveness], which is certainly possible in my work. I hope to be a prosecutor for a while and a loan forgiveness would help me a lot. $10,000 is a drop in the bucket, but I also know that my debt of $277,000 is “cheap” debt from law school. Ivy Leaguers have way more.

Annie Weldon, 31, New Orleans

Graduate Student Arranges for Student Debt Cancellation

“I work with [student advocacy organization] To rise, and be on the brink of a new day, where students can focus less on funding their education, and more on their education itself, is a day we have been waiting for. I was unable to receive all the funding I needed because my parents collectively made too much money, but they did not make enough to fund both my college education and that of my younger brother. I left undergrad with $23,000 in loans. I have now reached $43,000 and saved and prepared for the possibility of having to start payments depending on the response from the administration. For borrowers from marginalized communities, education is our only path to financial freedom. Even with an education, there are still student loans that prevent us from getting that freedom.

Braxton Simpson, 23, Raleigh, North Carolina

The writer who worries about owning a house

“When I graduated from Michigan State I had $21,500 in student loans and my first job was paying me $36,000 a year. Things were incredibly tight on that salary and things got even tighter when my student loan payments started at around $256 per month I currently have $18,207.98 left to pay The $10,000 forgiveness gives me more of a chance to start thinking about investments like the homeownership since I would have more room in my budget Even though I am 30 years old, the idea of ​​adding another loan in the form of a mortgage when I still have my student loans and debt credit card makes me incredibly stressed.

Molly Burford, 30, Detroit

The Equity Trader who consolidated his loans

“I graduated from undergrad in 2005 and trade school in 2007. I consolidated loans at 5.5% and deferred for two years given the bad year 2008 for finance jobs. At the peak, my balance was $125,000, and it currently sits at $89,000. I remember many years when my payment was about a third of my salary, and now it’s $600 a month. It’s manageable for me, but it’s not exactly money for a couch cushion. It’s the difference between owning a house and renting, it’s less about filling the emergency fund, it’s about taking a real vacation instead of a weekend, or extra money to send to mom. My attitude is the same whether or not I qualify for forgiveness: I support any level of debt relief or cancellation, regardless of income threshold or means test.

Kyle Fenton, 42, Austin, TX

The paralegal who just wants a weekend vacation

“I loved college, but it was such a waste of money. Would I do it again? Absolutely – I met a lot of my best friends there and even my husband. Was it worth it? Absolutely No. After graduating from undergrad I owed about $30,000 – combined with my graduate loans I currently owe $57,071.15 My husband and I are lucky we don’t have any. kids (and we don’t want them either) but since the cost of living has gone up it’s hard to sustain our lives I just want to have enough money to visit my friends in every city where they live and hopefully travel overseas one day.

Aeryn Emmerich-Wise, 30, Charlotte, North Carolina

The director of IT operations who worked at the university

“I graduated from undergrad in 2014 with about $32,000 in student debt. I received a college scholarship and worked 30-40 hours a week in restaurants for the four undergraduate years. I deferred repayment of my loans when I graduated because I could barely afford rent and utilities. Those were some really tough years. Overall, I’m in a much better financial situation than before the freeze simply because of my work situation. It’s nice to pay rent and bills on time without stressing out or leaving $20 in your bank account after all. I have focused on paying off credit card debt since then. My balance is now $31,000 and I feel lucky compared to many of my friends and family. I think about my loans every day.

Adrienne Woodland, 30, New York

The grad student who already paid $38,000

“I graduated from undergrad in 2013 and had just under $50,000 in school loans. I used the grace period after graduating to try and save some money, but I was mostly living paycheck to paycheck. Over the past nine years, I’ve reduced my balance to just over $12,000, but I’m now attending graduate school and have taken out additional loans to help cover tuition. The payment freeze that accompanied Covid-19 was instrumental in my ability to build both a strong “rainy day” and a general savings balance, but full debt cancellation would have had a much greater impact.

Morgan Schafer, 31, Cincinnati

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Assessments needed to cover rising insurance premiums https://commonfolkusingcommonsense.com/assessments-needed-to-cover-rising-insurance-premiums/ Sun, 21 Aug 2022 09:03:58 +0000 https://commonfolkusingcommonsense.com/assessments-needed-to-cover-rising-insurance-premiums/ Support local journalism by signing up here: Special Offers – USATodayNetwork. Dear Poliakoff, Recently, I received a notice from my condo board indicating that there was a shortfall of $500,000 in the budget related to our insurance premiums. Starting next month, all unit owners will have to pay a certain percentage to cover this shortfall. […]]]>

Support local journalism by signing up here: Special Offers – USATodayNetwork.

Dear Poliakoff,

Recently, I received a notice from my condo board indicating that there was a shortfall of $500,000 in the budget related to our insurance premiums. Starting next month, all unit owners will have to pay a certain percentage to cover this shortfall. To me that doesn’t seem quite right, since we all paid monthly dues to the association as expected – how can they now come back to us and charge us more than they initially charged us? Am I wrong on that? Seems like a scam to me.

Signed, RB

Dear RB,

Due to a number of market factors, including the Surfside tragedy (the collapse of Champlain Towers South), many insurers exited the Florida market and the cost of insurance increased dramatically. Many of our clients have reported premium increases of hundreds of thousands of dollars. So if your insurance renews in the summer, what you describe is not at all surprising (I’ve heard several reports of similar increases). The association has a legal obligation to buy insurance, and they must pay for this premium increase one way or another – the only solution is to increase your dues. This can be accomplished in two ways. Either the board can change the annual budget and levy increased dues for the rest of the year (which seems to be happening in your case), or the board can adopt a special levy to raise sufficient funds to cover the shortfall .

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How an Online Marketplace Tackles Illiquidity in CRE Investments https://commonfolkusingcommonsense.com/how-an-online-marketplace-tackles-illiquidity-in-cre-investments/ Fri, 19 Aug 2022 13:30:23 +0000 https://commonfolkusingcommonsense.com/how-an-online-marketplace-tackles-illiquidity-in-cre-investments/ The illiquid nature of private real estate investments is one of the biggest challenges for sponsors and investors. One company hoping to change that is Realto Inc., which has built a web-based marketplace aimed at providing a secondary trading method for illiquid real estate and alternative securities. The Overland Park, Kansas-based company is trying to […]]]>

The illiquid nature of private real estate investments is one of the biggest challenges for sponsors and investors. One company hoping to change that is Realto Inc., which has built a web-based marketplace aimed at providing a secondary trading method for illiquid real estate and alternative securities.

The Overland Park, Kansas-based company is trying to improve the difficult and time-consuming process of exchanging private real estate, making it easier and more lucrative for brokers, wealth managers and investors. Currently, the platform allows unlisted REIT investors to have a secondary liquidity event, and it will soon accept investors of any type of fund structure.

“For so long, the secondary liquidity market has been unregulated and unfair, with vulture funds trying to take advantage of frustrated investors by making heavily discounted mini-tender bids – 25% to 30% less than they’re not worth it,” says Don Hancock. , CEO of Moloney Securities, a St. Louis-based brokerage that leverages Realto’s platform to sell non-traded REIT stocks. “But now investors can set their own price and find a buyer in an open market. It’s the disruptive technology we’ve been waiting for.

Billions of denied requests

Whether an investment vehicle is structured as an unlisted REIT, a fund, or a single-asset LLC, sponsors struggle to allay investor concerns about lack of liquidity, which often ends up dissuading investors from which can be lucrative investment opportunities. In the past, opportunities for daily liquidity and transparency did not exist in the secondary trading of real estate and other illiquid securities.

“The biggest obstacle to fundraising and the biggest frustration for investors is the uncertainty of the holding period and/or exit strategy,” said Realto CEO and co-founder Brian King. “A lot of these unlisted REITs are seven to ten years old and a long way from exiting.”

Historically, investors who were unwilling (or unable) to wait for a liquidity event such as an IPO or portfolio sale had only two options: redeem their shares/investments through the issuer or offload of their interests through a mini-tendering (take-over bids for less than five percent of a company’s shares). Neither option is ideal.

Since most non-traded REITs have annual redemption limits, investors usually end up on a waiting list. Unlisted REITs have billions of dollars in their buyout queues, and that doesn’t even include investors looking to sell their stake in private funds or LLCs.

“We are aware of a sponsor with $130 million in investor requests in its buyout queue and no way to fulfill them,” King notes.

While there’s nothing inherently wrong with mini-tenders, many investment firms have a history of preying on retail investors who don’t know they now have another option. The problem is so widespread that the SEC provides specific advice to investors on its website, warning them that these offerings are catching investors off guard.

“Many investors who hear about mini-tender offers sell their securities without investigating the offer, assuming that the price offered includes the premium typically present in larger traditional take-over bids,” according to the SEC website. “But they later learn they can’t back out of the offering and may end up selling their securities at below-market prices.”

According to King, “Investors aren’t looking for a secondary market for these assets because it doesn’t exist. When you’re creating something that didn’t exist before, the biggest hurdle you run into is creating awareness and letting people know that there are other alternatives.

Build relationships with brokers

Unlike crowdfunding companies, Realto focuses on secondary transactions over primary transactions. “We don’t necessarily help someone raise money for a particular building or fund, but a sponsor could use our platform to enable secondary transactions in that fund,” King says. “There are literally trillions of dollars of opportunity for this.”

Realto received brokerage approval from the Financial Industry Regulatory Authority last November, allowing it to launch its first transaction: Class B restricted stock of Phillips Edison & Co. The Cincinnati-based company, one of the largest owners and managers of grocery stores – anchored centers, completed a $478 million IPO in July 2021.

Earlier this year, Realto’s platform obtained Alternative Trading System (ATS) designation from the SEC. As an ATS, the company can now authorize additional order requests and bilateral quotes.

After successfully closing its latest venture capital round in May – $4.5 million led by Firebrand Ventures with investments from KCRise Fund and other key contributors – Realto plans to open its platform to private real estate investments. The company is taking a traditional approach rather than tokenizing it or using blockchain, according to King.

The influx of funds will allow Realto to expand its team of software engineers. “Technology is the lifeblood of the Realto platform, and we’re focused on expanding that team,” King says.

The company is also looking to increase its workforce in the areas of operations, legal, compliance and sales. Its sales team is responsible for building relationships with real estate brokers and developers to create a steady flow of supply on the sell side.

Many brokers who have bought shares of unlisted REITs need a way to get those investments off their books, says Hancock of Moloney Securities. And it’s not uncommon for broker trades to get stuck with hundreds, if not thousands, of orphan accounts that a secondary liquidity event would resolve.

“Our desire is to work with brokers – we’re not trying to take business away from them,” King says, adding that the company has created a tool called Advisor View specifically for brokers and brokerage firms to have visibility and transparency. . in their transactions.

Win time

Given the pent-up demand on the sell side, as well as the buy side, it is reasonable to wonder why no one has addressed the issue of providing secondary transactions in illiquid real estate and alternative securities before today.

“I think it’s just too tedious for someone to try to accomplish,” King said. “But when you can leverage technology, it’s very, very scalable.”

Previously, the exchange of securities was very paper-dependent and usually required medallion stamps, which ensure the authenticity of a signature authorized to transfer securities. The whole process was cumbersome and long; investors had to wait 10-12 weeks to get their money.

Thanks to technology, Realto was able to circumvent these obstacles. Its platform is fully electronic, allowing buyers and sellers to create online accounts and use electronic signatures to complete transactions. The company was able to establish its own automated, centralized clearing mechanism that executes and settles trades within three days.

By leveraging technology, Realto has also been able to reduce transaction fees that sellers have traditionally incurred. The company charges a 2.9% transaction fee to the seller, significantly lower than the 6.0-12% that buyers and sellers are used to.

Realto has developed software integrations (APIs) that connect and interface with multiple broker organizations. Additionally, it has already established relationships with the two leading transfer agents in the industry and will be rolling out APIs with them so that real estate investors can simply click a button within the transfer agents’ platforms to sell.

“It’s something we couldn’t offer our customers before, so it’s a win for us,” says Hancock.

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The best investment quotes from famous investors https://commonfolkusingcommonsense.com/the-best-investment-quotes-from-famous-investors/ Thu, 18 Aug 2022 07:00:00 +0000 https://commonfolkusingcommonsense.com/the-best-investment-quotes-from-famous-investors/ The best investors in the world have built their fortunes by making better decisions than others, so it’s no surprise that some of their best advice involves simple changes in your mindset. Here are the best investment quotes from famous investors who will help you become more successful with your own […]]]>



The best investors in the world have built their fortunes by making better decisions than others, so it’s no surprise that some of their best advice involves simple changes in your mindset. Here are the best investment quotes from famous investors who will help you become more successful with your own investment strategies. Keep these quotes handy and they’ll remind you to think smart whenever you start thinking impulsively or irrationally.

Investment Quotes By Warren Buffett: How to Invest

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.

  • The most important quality for an investor is temperament, not intellect. – warren buffet
  • Investing is simple, but not easy. –Warren Buffett
  • The risk comes from not knowing what you are doing. –Warren Buffett
  • If you can’t find a way to make money while you sleep, you’ll work until you die. –Warren Buffett
  • I always knew I was going to get rich. –Warren Buffett

Investment Quotes By Mark Cuban: Future Investments

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.

  • “Price-earnings ratios, price-to-sales ratios, present value of future cash flows, pick one.”
  • “Budget and watch the things you buy repeatedly, then go buy those things in bulk”
  • “It’s not about the money or the connections – it’s about the willingness to work and learn more than everyone else when it comes to your business”
  • “If you have $25,000, $50,000, $100,000, you better pay off whatever debt you have because it’s a guaranteed return.”

Quotation By Warren Buffet: The importance of investing in knowledge

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.

  • The most important quality for an investor is temperament, not intellect. –Warren Buffett
  • Successful investing takes time, discipline and patience. No matter how much talent or effort, some things take time. –Warren Buffett
  • If you can’t find a way to make money while you sleep, you’ll work until you die. -Warren Buffett
  • I will tell you how to get rich. Close the doors. Be afraid when others are greedy. Be greedy when others are afraid. -Warren Buffett

Investment Quotes By Mark Cuban: Be ready for any opportunity

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.
When it comes to investing, Mark Cuban says it’s important to be ready for any opportunity that comes your way. You never know when the right deal will come along, so you have to be ready when it does, he says.

  • “It doesn’t matter how many times you’ve failed. You only need to be right once.
  • “Work like there’s someone working around the clock to take everything away from you.”

  • “I’ve worked harder and smarter than most people in the companies I’ve been in.”

Investment Quotes By Carl Icahn: Risk Tolerance

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.

  • I am a risk taker. But that doesn’t mean I don’t consider things carefully before doing them. -Carl Icahn
  • “When friends and acquaintances tell you you’re a genius before accepting their opinion, take a moment to remember what you’ve always thought of their opinions in the past” -Carl Icahn
  • “Some people get rich by studying artificial intelligence. I make money by studying natural stupidity. -Carl Icahn

Mr. Icahn is proof that taking risks and being prudent are not mutually exclusive. By thinking about the risks he takes, he was able to amass a fortune. If you’re feeling stuck in your investment strategy, it might be time to take on some extra risk.

Investment Quotes By Charlie Munger: Allocate funds, not time

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.

  • “If you don’t allocate your time, someone else will.
    And if you don’t allocate your money, someone else will.
    But if you want to be successful in investing, you have to learn how to allocate both your time and your money.
    Famed investor Charlie Munger has some great advice on how to achieve this.
    In this quote, he talks about the importance of allocating your funds wisely.

Quotation By Howard Marks: Be patient and avoid excessive trading

The best investing quotes from famous investors that will change your mindset so you can invest smarter, not harder.

  • “One of the most important things for investors to do is to be patient and not to over-trade. When overtrading, you are more likely to make mistakes and lose money. Instead, take your time researching investments and wait for the right opportunity – Howard Marks
  • “Success in investing does not come from ‘buying the right things’, but rather from ‘buying the right things.’- Howard Marks
  • “Investing is a popularity contest, and the most dangerous thing is to buy something at the height of its popularity. At that point, all the favorable facts and opinions are already factored into its price, and there is no no new buyers to emerge.” – Howard Marks
  • “The three stages of a bull market”: stage one, when only a few unusually discerning people believe things are going to improve, stage two, when most investors realize that the improvement is coming produce, and the third stage when everyone concludes that things are going to get better. improve forever. –Howard Marks
    These words of wisdom come from Howard Marks, an American investor and author. Mr. Marks is the co-founder of Oaktree Capital Management, a leading global investment management firm.

When it comes to investing, there are many different philosophies. But at the end of the day, it’s all about making your money work for you. And these best investment quotes famous investors will help you change your mindset and set you on the path to success.






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Despite market turmoil, technology gains persist across industries https://commonfolkusingcommonsense.com/despite-market-turmoil-technology-gains-persist-across-industries/ Tue, 16 Aug 2022 10:30:00 +0000 https://commonfolkusingcommonsense.com/despite-market-turmoil-technology-gains-persist-across-industries/ Each year, TrueBridge analyzes the next billion dollar startups to shed light on the trends shaping the next wave of industry disruptors. Last year, we discussed how the convenience and innovation of digital alternatives have transformed what began as a pandemic-era necessity into a preference for consumers and a competitive advantage for businesses. . 2022 […]]]>

Each year, TrueBridge analyzes the next billion dollar startups to shed light on the trends shaping the next wave of industry disruptors. Last year, we discussed how the convenience and innovation of digital alternatives have transformed what began as a pandemic-era necessity into a preference for consumers and a competitive advantage for businesses. . 2022 represents a very different macro-economic environment, where having an innovative product and a large and growing market opportunity may not be enough for long-term success.

This year’s Next Trillion-Dollar class of startups are building the products needed to position themselves for success — and they’re doing so as relatively well-capitalized companies. Almost all companies raised funds in 2021 and/or 2022, giving them a path to growth in a period marked by downturns, structured terms and the required proof of a clear path to profitability. .

The lion’s share of places on this year’s list are made up of Fintech, Insurtech and Productivity startups that aim to modernize and disrupt traditional industries. Startups providing technology solutions are poised to succeed as they capitalize on persistent customer demand in today’s macro environment. They are also continuing a multi-year trend that has been accelerated by the Covid pandemic, as technological advancements have enabled a dramatic shift in the way we all live, work and interact.

Read on to learn more about this year’s Next Trillion-Dollar startups and the industries where they’re bringing a new dose of innovation.

Fintech: Persistent Momentum

For several years, hype and money have flooded the fintech scene in many parts of the world. Today’s environment looks very different, with early drops from many of the hottest titans who not long ago grabbed the headlines with their seemingly no-holds-barred offering. end of record valuations. However, the expansion of the industry’s reach since its inception, combined with the growing maturity of fintech products available in the market, likely means that the sector has the momentum to withstand the market conditions we are currently witnessing. Witness 0x Labs, Equitybee, and Novo, three companies that are breaking the traditional payments and finance mold, earning them spots as Next Billion-Dollar Startups.

· 0x laboratories is a developer of an open protocol designed for decentralized exchange on the Ethereum blockchain. Its technology is important infrastructure for the emerging crypto-economy, enabling a new financial stack that is more efficient, transparent, and fair than systems of the past. 0x enables the peer-to-peer exchange of tokenized assets such as NFTs, which prove ownership of a unique digital item. In April 2022, the company raised a $70 million Series B funding round led by Greylock. News of their Series B came shortly after Coinbase chose 0x to power their recently launched social NFT marketplace.

· EquityBee has developed a stock option financing platform intended to provide employees of startups with the financing they need to exercise their stock options. While stock options can be a life-changing reward for employees when their business is doing well, not all start-up employees have the funds to fully exercise the options available to them. EquityBee solves this problem by providing a marketplace for employees to connect to capital from a network of investors to fund the process. Last year, EquityBee raised a $55 million Series B round led by Group 11, which also led EquityBee’s seed and Series A rounds.

· new is a banking platform that powers simple business checking accounts, bringing small business banking into the modern era with easy-to-use tools for on-the-go founders. As of January 2022, Novo had 150,000 small and medium business (SME) customers and collectively had $5 billion in lifetime transactions. Along with that momentum came significant funding – Novo raised $90m Series B funding at a $700m valuation in 2022, led by new investor Stripes.

Insurtech: reshaping the customer journey

As businesses and individuals seek to reinvent everyday systems in the digital age, insurtech companies have grown in scale and stolen market share from legacy legacy vendors by offering users value sustainable and digitally integrated. With their ability to reach consumers and businesses directly, rather than employing the model of traditional independent agents and brokers, insurtech companies have appealed to younger generations with systems more compatible with digital trends in today. Cowbell Cyber, Insurify, and Kin Insurance are leading that charge, earning their spot as three of this year’s Next Trillion-Dollar startups.

· Cyber ​​Cowbell is the leading provider of cyber insurance for SMEs, offering standalone cyber coverage tailored to the unique needs of each of its customers. Their technology leverages AI for continuous risk assessment and underwriting, providing policyholders with a closed-loop approach to risk management. In March 2022, Cowbell raised funding led by Anthemis Group. At the time of the round, Cowbell revealed that it had developed the largest cyberinsurance distribution network in the United States with more than 14,000 producers, expanding its monitored risk pool to more than 23 million companies, or 70 % of US SMB market.

· To assureThe platform helps users compare auto, home and life insurance quotes online in one place. The company developed AI to make insurance shopping simple, affordable and hassle-free. Insurify Founder and CEO Snejina Zacharia was inspired to create a better insurance shopping experience following a minor car accident that led to skyrocketing auto insurance rates. Insurify raised a $100m Series B funding round led by Motive Partners in September 2021.

· Kinship insurance: Parents’ insurance is the developer of an online insurance platform designed to provide simple, personalized and affordable home insurance. The company’s direct-to-consumer platform uses data and technology to determine how best to insure homes where insurance is harder to come by, especially in areas prone to extreme weather and fires. Kin Insurance closed an $82 million Series D round in March 2022, led by QED.

Productivity: reorganize the workplace with automation and collaboration tools

With hybrid and remote working policies now the norm and growing pressure on employers to provide greater flexibility and a better work-life balance, it’s no wonder that several companies among next billion dollar startups offer seamless solutions to both improve the management of remote teams and automate mundane, repetitive processes. Firstbase, Fountain, Instawork, and LinkSquares are just a few of the many fast-growing 2022 Next Billion Dollar Startups in this space.

· First base is a remote team management platform designed to help businesses set up, manage, maintain and recover all the physical equipment remote workers need to be successful at home. From laptops and peripherals to desks, chairs, lamps, and more, Firstbase improves organizations by helping them enable work capabilities from anywhere. The company raised a $50 million Series B funding round led by Kleiner Perkins in March 2022.

· Fountain The all-in-one, high-volume recruiting platform helps the world’s largest companies find the right people with smart, fast, and seamless recruiting. Founded in 2014, Fountain began with a vision to disrupt applicant tracking systems, which are often designed for salaried employees when much of the global workforce is made up of hourly workers. Fountain’s bespoke solution is designed to keep hourly workers in mind and connected throughout the application process. In June 2022, the company raised an $85 million Series C funding round led by SoftBank and B Capital.

· Instagram has developed an online job market designed to connect local businesses with qualified hourly professionals. The company is a leader in modernizing the hiring and payment of hourly workers, and usage of their platform has exploded since the pandemic as workers turn to flexible work options. Instawork raised $60m in a Series C funding round in 2021, led by Craft Ventures.

· LinkSquares is a developer of a legal document analysis platform designed to identify key data and responsibilities in contracts. The company’s AI-powered contract management platform provides its clients with everything they need to quickly draft, execute and analyze contracts. Its flexible automation platform gives customers better visibility and collaboration. In March 2022, the company raised a $100 million Series C funding round led by G Squared.

While pandemic-era trends have fueled the hypergrowth of many startups, this year’s Next Trillion-Dollar startups are poised to continue growing despite challenging market conditions by developing innovative products that continue to disrupt and challenge. advancing traditional industries.

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Rakesh Jhunjhunwala quotes: Here are 10 stock market investing mantras https://commonfolkusingcommonsense.com/rakesh-jhunjhunwala-quotes-here-are-10-stock-market-investing-mantras/ Sun, 14 Aug 2022 07:00:00 +0000 https://commonfolkusingcommonsense.com/rakesh-jhunjhunwala-quotes-here-are-10-stock-market-investing-mantras/ Veteran stock market investor Rakesh Jhunjhunwala, who owned recently launched Akasa Air, died this morning at the age of 62 in Mumbai. The airline began commercial operations this month with an inaugural flight from the financial capital of Mumbai to the city of Ahmedabad. He teamed up with former Jet Airways CEO Dube and former […]]]>

Veteran stock market investor Rakesh Jhunjhunwala, who owned recently launched Akasa Air, died this morning at the age of 62 in Mumbai. The airline began commercial operations this month with an inaugural flight from the financial capital of Mumbai to the city of Ahmedabad. He teamed up with former Jet Airways CEO Dube and former IndiGo director Aditya Ghosh to create Akasa.

According to hospital sources cited by the news agency ANI, Jhunjhunwala was not doing well for the past few days and breathed his last today at Breach Candy Hospital in Mumbai. He was born on July 5, 1960 and grew up in Mumbai.

Stock investor Ace also ran a private equity trading company called RARE Enterprises. He has always been bullish about the Indian stock market and all the stocks he bought mostly turned into a multibagger.

Take a look at 10 golden quotes from Rakesh Jhunjhunwala,

1) “Respect the market. Have an open mind. Know what to bet. Know when to take a loss. Be responsible.”

2) “Hasty decisions always result in heavy losses. Take your time before putting money into a stock.”

3) “Anticipate the trend and take advantage of it. Traders should go against human nature.”

4) “Never invest at unreasonable valuations. Never run for companies that are in the limelight.”

5) “Trading always keeps you on your feet, it keeps you alert. That’s one of the reasons I love to trade.”

6) “Emotional investing is a surefire way to make losses in stock markets.”

7) “You can’t make profits in the stock market if you don’t have the capacity to bear losses.”

8) “Buy when others sell and sell when others buy – the mantra of the stock market.”

9) “Invest in companies that have strong management and competitive management.”

10) “When opportunities arise, they can be through technology, marketing, brands, value protection, capital, etc. You need to be able to spot them.”

Prime Minister Narendra Modi offered his condolences on the death of Rakesh Jhunjhunwala on his social media handle. “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His death is saddening. My condolences to his family and fans. Om Shanti,” Prime Minister Modi tweeted.

BJP leader Baijayant Jay Panda said in a tweet: “Deeply saddened to hear of the sad demise of Dalal Street Big Bull Shri Rakesh Jhunjhunwala Ji. He was often referred to as the Indian Warren Buffett as he mastered the art of investing. Recently, he launched the Akasa air. Sincere condolences to his family.”

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