Author Archives: admin
Over half of Americans aren’t taking this simple step to grow wealth | CNBC
Over half of Americans, 55%, say they are not participating in the stock market, according to a new poll from MetLife of over 8,000 U.S. adults over the age of 18. The survey finds that age is definitely a factor. Gen Z (ages 18 to 24) and millennials (defined here as ages 25 to 34) are opting out in far greater numbers than older Americans.
But gender also plays a role — 44% of men report they aren’t investing, compared to 59% of women. And men tend to be more likely to invest in some type of mutual or index funds and stocks.
Yet when it comes to building long-term wealth, saving alone typically isn’t enough.
— Read on www.cnbc.com/2019/10/09/over-half-of-americans-arent-taking-this-simple-step-to-grow-wealth.html
Socialism Failure
In the real world, socialism harms and weakens the economies and opportunities of countries that have implemented it. And, declining economies inevitably hurt the citizens in them. Socialism destroys incentive, opportunity, freedom. Historically, socialism has harmed the people it claims to help the most.
Socialism, historically, has been a disproven economic theory which advocates that the means of production, distribution, and exchange should be controlled, owned or regulated by the government. Socialism is, in theory, based on equality, which in itself is a false-hood. In fact, no-one in a society is truly equal and there will always be “haves and have nots” and unequal distribution of wealth, even in supposedly socialist countries.
In theory under socialism, workers and the poor are no longer exploited because they own the means of production. Profits are spread equitably among all citizens according to their individual contribution. But the cooperative system also provides for those who can’t work. It meets their basic needs for the good of the whole society.
In theory, a Socialist system should eliminate poverty. It provides equal access to health care and education. No one is discriminated against. Everyone works at what one is best at and what one enjoys. If society needs jobs to be done that no one wants, it offers higher compensation to make it worthwhile
Some people, in a society, can do jobs others physically can’t, and vice versa. That is why socialism, “which its goal is to have collective living and working arrangements, equal distribution of wealth, and equality of power”, doesn’t work. It kills the economy, creates governmental dependency, and lowers the quality of living.
A growing number of Democrats and their constituents are beginning to embrace Socialism since they view capitalism as unjust and unfair. They cite the growing unequal distribution of assets and concentration of wealth in the hands of a few individuals. Many Americans apparently do not believe that they have a path to success and prosperity in the current business cycle, and they’re angry with capitalism and the wealthy. And, that anger is being fanned by candidates leading the charge to vilify the wealthy and punish them through more progressive tax policies, including the implementation of a wealth tax.
Many American adults, both the young disenchanted and the older disenfranchised adults, believe that capitalism is failing and not lifting the economic boats of a majority of its citizens. They believe that it is only benefiting the wealthiest Americans. Theses young and old American adults are beginning to listen to socialist leaning politicians and embrace the philosophy and beliefs of socialism.
“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery”.— Winston Churchill
Americans only have to look in its own Western Hemisphere backyard to witness firsthand the failures of socialism. The failed economies of Cuba and Venezuela stand as glaring examples of socialism failures. In both countries, socialism proved once again that its core is the “…inherent virtue is the equal sharing of misery”. They stand as reminders just like the economies of the former Soviet Union and East Germany, and the pre-capitalist economy of People’s Republic of China of last century.
Winston Churchill said: “No one pretends that democracy is perfect or all-wise. Indeed, it has been said that democracy is the worst form of government except all those other forms that have been tried from time to time.”
Capitalism is a lot like democracy, it’s the worst form of economic system except all those other economic systems that have been tried from time to time, according to John Hope Bryant on CNBC Morning Squawk.
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” -Winston Churchill
Former Prime Minister Churchill further stated that “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” In socialist countries, government officials exercise control of the means of productions and take ownership or embezzled most of their society’s wealth.
In 2019 America, the country must find someway for all Americans, not just the wealthy and political elite, to share in the nation’s prosperity brought about by capitalist economy.
3 secrets for women to conquer money stress | Fidelity
3 secrets for women to conquer money stress
Fidelity research shows how to live financially stress-free.
FIDELITY VIEWPOINTS – 06/20/2019
- Many women who feel financially secure and stress-free say they have put a financial plan in place.
- Women who annually save 10%-15% of their income in tax-advantaged savings accounts like traditional 401(k)s and IRAs are generally on track to meet their retirement savings goals.
- Having an emergency fund of at least 6 months’ of necessary expenses can help reduce stress and bring peace of mind.
3 strategies to reduce financial stress
What can you do to help improve your financial security and overall wellbeing? The women in our survey who aren’t stressing out over money and health share 3 secrets to success.
1. Build an emergency fund of at least 6 months’ of expenses so you can weather the unexpected
Are you financially stressed? 7 telltale signs
- Missing work
- Difficulty thinking clearly
- Depression
- Sickness
- Gaining weight
- Not exercising enough
- Not taking vacation
In everyday life, stuff happens. The roof leaks. The car breaks down. The kids need a cash infusion. That’s why it’s critical to have an emergency fund, no matter your life stage, gender, marital status, or income.
Overall, Fidelity research finds that less than half of Americans have an adequate emergency fund. Our stress-free ladies break the mold: 77% have one.
If you don’t, here are 3 simple steps to get started:
- Look for ways to cut down on nice-to-haves like eating out or buying that extra pair of shoes.
- Put savings on autopilot. Set up regular withdrawals from your paycheck to a separate rainy-day fund until you reach your goal.
- Explore a side gig to supplement your income.
Tip: Save a little bit each week or month until you reach that 6-month target and then you’ll feel better about the unexpected.
2. Save at least 10% of your income a year so you are prepared for retirement
Taking care of your future self is as important as making time for yourself today. It can give you peace of mind too. Of the financially-zen in our survey, 29% say they have been saving at least 10% for retirement year after year.
To be confident you’ll have enough money to maintain your lifestyle in retirement, Fidelity recommends aiming to save 15% each year—but that includes any contributions from your employer. If you are fortunate enough to have one who matches your contributions in a 401(k) or 403(b) retirement account, grab it. That is like free money! And invested well, that money can grow over time.
This year you can contribute up to $19,000 to a 401(k) or 403(b)—and save on taxes too. No 401(k) at work? No worries. You can contribute up to $6,000 a year to an IRA (short for individual retirement account). Lastly, if you’re over age 50, you can contribute even more with catch-up contributions.
Tip: If you cannot save 10% or 15% at first, try to save at least enough to receive the full employer match at work.
3. Have a financial plan
Ready to take the first step?
Here are a few key elements of a strong financial plan:
- An emergency fund
- A budget
- Paying down debt
- Health and disability insurance
- Saving and investing for retirement
- Saving and investing for college
- Saving and investing for shorter term goals like vacations or a home purchase
- Wills and estate planning
Planning for life’s goals—a new house, a vacation, your retirement—is likely on your to-do list. But have you taken the first step?
While 72% of women surveyed say they want to begin a financial plan, only 52% are confident about doing so. Worse yet, 40% of all women say they lose sleep over money matters.
Our financially stress-free women know the power of planning for the life they want and deserve: 95% have some kind of financial plan in place, and 80% have a long-term plan.
— Read on www.fidelity.com/go/womens-investing/women-conquer-money-stress
Chinese Cheating on Trade
There should be no doubt in the minds of Americans that China has not been living up to the obligations and continues to ignore the rules of the World Trade Organizations (WTO) on bilateral trade with the U.S. and global trade with Western trading partners. For decades, the Chinese Communist centrally managed capitalist economy has been subsidizing inefficient domestic industries, dumping cheaply produced goods such as steel and iron on global markets, and erecting barriers to protect their domestic markets from foreign goods and services.
And, the U.S. and Western governments and global corporations, for decades, have taken the three monkeys approach to confronting China of “see no evil, hear no evil and speak no evil” to addressing the unfair trading practices. The inept response from governments and large corporations are because of the desire to access the lucrative and rapidly growing Chinese domestic market. Over the decades, this approached has proved an ineffective strategy and has only encouraged additional bad behavior and strong arming by the Chinese.
Despite Chinese Communist Party leaders’ continued denials of the bad behavior, there is no doubt that China is coercing the transfer of U.S. and Western technology, and stealing Western Intellectual Property (IP). Again, over the past several decades, Chinese rapid rise to becoming the world’s second largest economy by GDP and their rapid technological advancements as a global leader in artificial intelligence can be directly contributed to their successful pilfering of IP and forcing technology transfers.
Additionally, for decades, multiple U.S. administrations have avoided directly confronting the Chinese regarding their unfair trading practices and outright theft IP and forced technology transfers. The current U.S. – China trade reality is a result of policies of appeasement by administrations of both parties.
The Chinese have deliberately practiced bilateral and multilateral trade in a manner that have created an un-level and unfair trade environment built on theft, coercion, subsidies of domestic enterprises and dumping excesses below market priced goods on global markets that effectively decimates competition.
Great Regrets in Life
“If only I had spent more time at the office.”
“It is a wise man who can learn from his own mistakes. But it’s a far wiser man who can learn from the mistakes of others.”
A regret is usually based on not achieving something you really want to occur in your life. Most people are too busy living their life to stop and imagine the regrets they might have when they are about to die.
There is the phenomenal clarity of vision that people realize on their deathbeds and at the end of their lives. The top regrets of the dying are:
- I wish I hadn’t worked so hard.
- I wish I had taken better care of my health
- I wish I’d had the courage to express my feelings.
- I wish I had stayed in touch with my friends.
- I wish that I had let myself be happier.
- I wish I had saved more and planned better for my retirement
- I wish I’d had the courage to live a life true to myself, not the life others expected of me.
The words people won’t say on their deathbeds are, “If only I had spent more time at the office.”
Always remember…Happiness is a choice.
The so-called ‘comfort’ of familiarity overflowed into their emotions, as well as their physical lives.
It is essential that you invest in your own good health. Many people take better care of their automobile than their own body. Or, many decide there’s no time to PT (military slang for workout) because they have too much work to do and making money is the priority. Yet, by the time you realize that you should have taken better care of your health, it’s probably too late.
Fear of change had them pretending that they were content, while deep within, they longed to laugh properly and have silliness in their life again.
Source: https://www.theguardian.com/lifeandstyle/2012/feb/01/top-five-regrets-of-the-dying
Source: The 10 Words You Won’t Say…On Your Deathbed, HuffPost, By Larry Schwimmer, Contributor, President Astrodecision, 10/15/2013 02:57pm EDT
Focus on Women’s Finance: 5 Practices of Financially Smart Women | TD Ameritrade – The Ticker Tape
Financially smart women control their money to get what they want; it doesn’t control them. But it takes planning and a little bit of work if you want to be your own or your family’s chief financial officer (CFO).
https://tickertape.tdameritrade.com/personal-finance/5-things-financially-smart-women-know-16683
Knightscope
Knightscope’s mission is to make the United States of America the safest country in the world.
https://www.knightscope.com/invest
The Knightscope Machine-as-a-Service (MaaS) strategy targets an effective, profitable business model with high recurring revenues at scale with hardware, software, and support components. Our contracts can generate up to $96K per annum providing clients an effective hourly rate of approximately $6 – $12 per hour depending on type of machine and options selected. We target recovering $60K in bill-of-material cost of the robot in year one and we also target $250K estimated profit per robot over targeted life of 5 Years.* Approximately 30% of customers pre-pay full year contract in advance.
Companies Cut Back, but Consumers Party On, Driving the Economy – The New York Times
American consumers are energetically engaged in a spendathon. American businesses, by contrast, are not.
Businesses and households swim in the same economic soup and their outlooks — gloomy or bright — are usually in sync. But in recent months, the two seem to occupy opposite ends of a teeter-totter, with consumers continuing to spend while business owners and managers are chastened by doubt and uncertainty.
The economic expansion has extended its record run despite this curious divergence. The question is how long it can continue.
— Read on www.nytimes.com/2019/11/04/business/economy/economy-consumers-business.html
MGM Grand Las Vegas on Halloween
Arrived Las Vegas late on weekday Halloween night. As I walked into MGM Grand Hotel and Casino on The Strip, encountered a multitude of revelers dressed in a variety of risqué costumes.
The first attention getting outfit that crossed my path was quite memorable. The young woman’s attire was a navy blue Brazilian cut string bikini beneath an extremely sheer coverup worn by a five foot nine inch tall twenty-something model-like dirty blond. The young lady not only caught my attention, but also caused quite a stir amongst the mass of humanity that had congregated in the lobby area as she ambled confidently through the MGM’s lobby.
For someone arriving for their first Halloween night in Las Vegas, the abundance of risqué costumes donned by party goers created quite a memorable impression.
Needing to check-in, I observed that the MGM Grand’s check-in line queue was nearly one hundred guests deep at eleven at night. Additionally, the long queue was being serviced by only seven front desk registration staff. Needless to say, the wait time to register was not insignificant.
Fortunately after my long wait in the queue, the individual, Avi-Anna, who completed by registration, was pleasant and extremely efficient. And in little time, I found myself navigating my way through the throngs of people in the lobby and on the casino floor to the elevator lobby and my room
Overall, the stay at the MGM Grand was pleasant and I would rate as above average. My concerns with the short three night stay was the lack of a black-out curtain in the room and the now standard guest rip-off of the $37 daily resort fee. As a result, the night time Vegas lights kept the room illuminated and I fed the “greed” of Resort owners along The Strip.
One positive aspect with staying at MGM Grand Hotel and Casino, which also doubled as the host hotel for the conference, was that guests have little reason to leave the hotel and casino since food, entertainment, sleep, nightlife, and Starbuck’s were all contained within the four walls.