Easy Investing Secrets to an Early Retirement – July 10, 2020 – Yahoo Finance

Accomplishing the financial cushion to retire early is a fantasy for most. Bringing the fantasy to reality is not as difficult as it sounds. The key is straightforward: Save significantly more every month. Sounds simple, correct? One moment.

Typically, advisors peg 15% to 20% of total income saved each month as a goal - but if you want to retire earlier, you probably have to ratchet that number up to 40% or 50% of your income. Not a feat easily accomplished when you review your take into account that a good portion of your paycheck goes to essential, non-negotiable lifestyle items. However, if you are willing to make some serious lifestyle changes and sacrifices, it's possible.

A relatively new movement called Financial Independence, Retire Early (FIRE) has been developed around this "sacrifice and over-save now to retire early" concept. FIRE followers develop strict savings programs (up to 75% of income) and make associated sacrifices like living in small apartments, walking to work every day, restrictive diets, and so on. This path may be too restrictive for many, but the mindset offers some takeaways that might be worth considering.

The first point is to adhere to the key principles of long-term investing, including developing a diversified portfolio that includes stocks with various styles, sizes, sectors and regions.

To accelerate the retirement investment cycle, you can construct a portfolio designed with more risk - and the potential for higher returns - but it should still be appropriately diversified to protect against larger than average market drawdowns that can be difficult to recover from and ruin any chance to accomplish your early retirement goal. There are numerous ways to diversify a portfolio, and how you do so should depend on your age, your risk tolerance, your growth and income needs, and your long-term goals.

Once you've begun saving at a higher rate and you have an investment plan, put that money to work in your plan as quickly as you can. Don't worry about finding the "perfect time" to invest - simply put the money in and keep it in. Let compounding work to help you grow your retirement savings at an exponential rate.

Growth stocks with low beta, strong earnings estimates, positive sales growth, and expected future growth are an excellent way to determine investable growth stocks for your retirement.

Zacks offers investors useful rankings for lower risk growth stocks for retirement portfolios. The following are a few selections that merit a closer look: Bristol Myers Squibb (BMY), Amgen (AMGN) and AbbVie (ABBV). Earnings and revenue has seen growth of at least 5% or higher over the last five years, with a beta of 1 or lower.

Do You Know the Top 9 Retirement Investing Mistakes?

Whether you're planning to retire early or not, don't let investing mistakes derail your plans.

If you have $500,000 or more to invest and want to learn more, click the link to download our free report, 9 Retirement Mistakes that will Ruin Your Retirement.

This report will help you steer clear of the most common mistakes, like trying to time the market, lack of diversification in your portfolio, and many more. Get Your FREE Guide NowAbbVie Inc. (ABBV) : Free Stock Analysis ReportBristol Myers Squibb Company (BMY) : Free Stock Analysis ReportAmgen Inc. (AMGN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

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Easy Investing Secrets to an Early Retirement - July 10, 2020 - Yahoo Finance

This single mother started with $20,000 and is now an early-retired millionaire heres one thing that helped her – MarketWatch

Jackie Cummings Koski has been a member of her local investment club for 11 years and is now on the board of directors but when she first started out, she had little money to her name and no clear path to financial freedom.

Koski joined the club so that she could improve her knowledge about investing, but it was also where she was able to openly talk about her divorce and find meaningful ways to provide security for herself and her young daughter. Each fellow member became something of a mentor to her, and the discussions were inviting. It was all very uplifting, she said.

Joining the investment club, along with following a budget and spending well under her means, has made the former saleswoman financially independent. In the last 11 years, the single mother has gone from $20,000 in her 401(k) at the time of her divorce to $1.3 million, and shes now a financial counselor to others. She reached financial independence at 46, and retired three years later.

See: This early retiree found her calling during the COVID-19 pandemic

Mentorships, whether one-on-one or in a group, can be crucial to achieving goals. Connecting on a personal level helps. When Koski works with her clients, including high-school students and those in underserved populations, she talks about growing up in rural poverty, with a single father who had a sixth-grade education and was raising six children.

All of those things play into how hard it was in the very beginning, she said. Going from poverty to financially independent thats a path that most people Im working with can get and connect with.

The FIRE movement, short for financial independence, retire early, has no shortage of inspiring stories about people who cut their spending in half, downsized their homes or took on numerous jobs to save as much as possible. But not everyone can follow that path. Some FIRE bloggers may also not be aware of the subtle advantages they had growing up, such as starting out in a middle-class family or living in an area with public transportation to get to the library or a job.

Koski has followed a few of the mainstays of the FIRE movement, however, such as slashing spending and investing much of the rest. As a sales representative at LexisNexis, her salary varied from year to year with an average of about $80,000, but she spent between $40,000 to $45,000 a year and put the rest away.

The early retiree pointed out that this wouldnt be possible everywhere she lives in Ohio, where home prices are not nearly as high as some major hubs like New York City or San Francisco so her mortgage, taxes and insurance amounted to about $1,000 a month. Still, she was careful with her money. Shed buy a luxury vehicle, but one that was three to five years old and with a price tag half of what it was when it was new. She worked only a few miles away from home, so gas wasnt a huge budget item. She didnt deprive herself of spending on food, and would go out to eat for lunch or dinner.

I didnt design my life to live off of $45,000, she said. I backed into it and discovered that my expenses were $45,000. At the same time, she was maxing out all of her investment accounts, including her 401(k), individual retirement account and a Health Savings Account.

Immersing yourself in an environment that supports the same values and goals is important. Koski was the first in her family to graduate college, and didnt have many sources for advice about finances when she was starting out so she figured it out on her own. By changing my environment, I was exposed to different things, she said.

Also see: Im a 32-year-old stay-at-home mom, and my husband earns $150,000 a year. Will I ever be able to enjoy a retirement?

The COVID-19 crisis has the potential to worsen future retirement security, and in some cases has already deteriorated Americans current well-being, but people may be able to use this time to learn more about money and their own personal finances, Koski said. People can turn to the internet, books or maybe even an investing club (socially distanced, of course) to learn more about saving, budgets, investing and personal finance topics.

Savers can also use this time to reflect on whats working financially, what isnt, what goals theyd like to achieve and dig into why they behave the way they do with their money. Breaking down what it would take to reach that goal is an eye-opener. For example, Koski tells students and aspiring investors that saving $50 a week for 40 years can get someone to $1 million.

Youre not going to be saving or investing unless in your mind you believe it will make a difference, she said. It may take a while to really get your head around things like me, but it happens, and when it does, it is very, very powerful.

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This single mother started with $20,000 and is now an early-retired millionaire heres one thing that helped her - MarketWatch

Indian-American in Maine attempting to drive Republican Senator Susan Collins out of office – newsindiatimes.com

In photo left, Sara Gideon, center, with her family. Gideon, whose father is an Indian-American pediatrician, is running to unseat Republican Sen. Susan Collins. Photo: Twitter

Just days before the Maine Democratic primary July 14, 2020, analysts and polls show the rising popularity of an Indian-American candidate for the U.S. Senate, Sara Gideon, against long time incumbent Sen. Susan Collins, a Republican. Gideon is expected to sail through the July 14 primary to face off against a formidable GOP Senator this November 3.

When the influential organization Emilys List endorsed Gideon for the Senate seat from Maine, it described her as A proven leader and dedicated public servant.

Gideon , the daughter of an Indian-American father and Armenian mother, has positioned herself to defeat Sen. Collins, by building a varied support base and raising millions of dollars. She is expected to sail through the July 14, Democratic primary in her state. In every re-election to her state House of Representatives since she was first elected in 2012, Gideon has garnered more than 65 percent of the popular vote.

An early July poll by RealCearPolitics which called the seat a toss-up showed Gideon 2.5 points ahead of Collins. The Cook Political Report has also called the race a toss-up. A report in Forbes list Collins among the most vulnerable Senators.

Just a few days ago, July 7, 2020, the New York Times ran a telling headline about this heated race Hemmed In by the Pandemic, Collins Battles for Survival in Maine. The Times also called it the toughest re-election race of her (Collins) career. Made even more so because the Republican Partys control of the Senate rests on her win this November.

Currently speaker of the Maine House of Representatives, Gideon, 48, has garnered endorsements from influential groups like Emilys List, and most recently, the Maine AFL-CIO which represents some 160 plus unions across Maine. In endorsing the Indian-American, one of the groups under the Maine AFL-CIO, The Iron Workers Local 7, tweeted, We are proud to endorse Sara Gideon for US Senate because weve worked together to raise wages on construction jobs, promote worker training and apprenticeship, and build an economy that works for all us, not just the wealthy few.

The Jewish Telegraphic Agency carried a report July 9, 2020, with the headline, Sara Gideon could flip Susan Collins Senate seat blue. Shes building a wide base of Jewish support to do so.

Collins, a four-term incumbent, has long been seen as a moderate Republican, but some of her votes over the last year, including the support for Supreme Court nominee Brett Kavanaugh, and for President Trump during the impeachment trial have put her in the crosshairs of many moderates in Maine.

Sara is a champion for Maine working families, and she has an outstanding record of achieving results, Emilys List said. She has passed landmark legislation to help families gain financial independence, and under divided government she worked tirelessly to pass bills that that both lifted Maine families out of poverty and increased the number of higher-skilled workers to grow Maines economy, it said, adding, Lets show this champion for Maine working families our full support to help her flip this seat from red to blue and lets take back the Senate.

Federal Election Commission filings show that as of June 24, 2020, Gideon had total contributions of $22,158,023, of which an overwhelming majority, $21,813,536 was in individual contributions. Her cash on hand by end of June was $5,494,743.

Sen. Collins was a few million short of her rival with total contributions by the same date at $15,169,062, and individual contributions at $12,266, 69. However, her cash on hand was neck-and-neck at $5,006,945.

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Indian-American in Maine attempting to drive Republican Senator Susan Collins out of office - newsindiatimes.com

Advancing Equity: Seeking to create a NKY that is inclusive of the work of all and ensures fair treatment – User-generated content

First of a series by NKYs nonprofits who stand together against racism and any acts that dehumanize people.

By Wonda WinklerBrighton Center

We all have hopes and dreams. Most people want to be able to take care of themselves and their families, have a safe and decent place to live, a better life for their children. . .to belong and to be happy. One unexpected event at any time, much less this time of COVID-19, such as a job loss or major illness can take any family off course financially. And when you are caught living paycheck to paycheck, sometimes the thought of saving for the future or building wealth seems impossible.

In Northern Kentucky, for 54 years, Brighton Center has been there to partner side by side with families as they work toward financial stability. From meeting those we serve where they are through emergency assistance services, adult and early childhood education, youth programs, and recovery services to setting the stage for long-term success through financial wellness, workforce training, and employment, we have truly offered comprehensive wraparound services that work, with tremendous, measurable results.

Over the years we have learned that families needs are unique and the services that support their journey to financial independence vary quality child care, help with getting a good job or a better job offering opportunities for career advancement, getting a GED or going to post-secondary for skill training or a degree, establishing and building credit, buying their first home, and more. We have also seen that the opportunities and outcomes for everyone we serve are not equal. There are deep disparities that exist for people of color and are most pronounced for those that are black. We have seen through our work the impact of institutional and systemic racism on our families of color. Research validates this racial and ethnic disparities exist in educational access and attainment, workforce training, and quality employment. The implications and impact of this are far-reaching not only for Northern Kentucky but for our country.

Addressing disparities requires a comprehensive and holistic approach on behalf of the community that is inclusive of the work of many partners including employers, educators, government and elected officials, and community-based organizations; partnerships and bundling of services; and policy changes at all levels (public benefits, education, criminal justice, child welfare, and workforce and economic development efforts to name a few). Our hope for Northern Kentucky is a community that ensures the systematic fair treatment of ALL people of ALL races that results in equitable opportunities and outcomes for everyone.

Often changes will be required to policies and procedures, including those that address institutional bias. Such changes are critical for each company or organization to advance racial equity. Since the fall 2016 Brighton Center has been on an intentional journey as an organization to look inward at our practices, to challenge ourselves to truly bake in equity into our organizational culture, and how we make decisions. We started with our Board, then reviewed our mission, vision, and values, and added a specific goal to our strategic plan. While racial equity has always aligned with our values, we felt that we needed to be more explicit. As such, we added an agency value: our commitment to diversity, inclusion, and racial equity is imperative to the strength of our organization and community. We are committed to demonstrating this value in action. Today, our journey continues as we look at our outcome data by race/ethnicity and gender variation and include the voice of our families to help us determine what interventions/activities we will need to implement in our services to ensure all families can achieve their full potential and improve the quality of their lives.

Wonda Winkler

One of our staff, Regio Rodriquez, recently shared an article through our Cultural Inclusion Committee entitled Challenging the Status Quo where he wrote, It was just 50 years ago, when my wifes great-grandmother became one of the first black nurses in the State of Missouri, accomplishing her goals, and challenging Jim Crow. It was just 30 years ago, when my high school JROTC sergeant, as a young high school student participated in the Latin American movements in Texas, and California demanding inclusion of cultural studies in their high schools. Those movements inspired him to proudly serve in the Army. It was just five years ago, when my former high school principal, the first openly-gay principal in the state of Oklahoma got to finally marry her wife of 30 years, after the federal ruling approving of gay marriage in all 50 states. These are examples of people in my life who have overcome the odds. These are examples of people who stood up and spoke out against the injustices before them. Each and every one of us have inspirational leaders in our lives. We remember their plights and remember their message. We too must be those leaders. We too must set by example. We too must be brave. Black Lives Matter.

Now is the time for us to listen carefully and respectfully, honor feelings, continue to educate ourselves, ask questions, engage in hard conversations, and encourage others to do the same. We ask that each person commit to taking specific action, and most importantly follow-through. If you are in a position of leadership within your company or organization, start with your Board and ask yourself if your companys values reflect your commitment to racial equity, adopt anti-racism policies, and give your employees of color the opportunity to share their experience and listen.

If you are an employee, offer up suggestions for action to your supervisor, or attend a training on diversity, inclusion, or racial equity Greater Cincinnati Foundation is offering some great ones you can find on their website, or go to Race Forwards website for some helpful resources or materials. Dont be afraid to start a conversation for fear youll say the wrong thing seek, learn, and lead. Find someone further along on the journey than you and engage them in a conversation to advance your learning. And be willing to speak out against racial injustice.

In the words of Martin Luther King Jr., In the end, we will remember not the words of our enemies, but the silence of our friends.

Wonda Winkler is executive vice president of Brighton Center.

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Advancing Equity: Seeking to create a NKY that is inclusive of the work of all and ensures fair treatment - User-generated content

Could the Domestic Abuse Bill backfire against women? – Spectator.co.uk

The Domestic Abuse Bill, championed by Theresa May, could easily have fallen foul of Brexit, Boris Johnson, the suspension of Parliament, a new government or coronavirus. But the Bill has beat the odds: it was passed by the House of Commons this week and is currently making its way to the Lords.

Its pure coincidence that this Bill should be in the news at the very point the nation is emerging from lockdown and, collectively, beginning to take stock of the damage wreaked, not just by Covid-19, but the confining of people to their homes.

One sadly predictable result of lockdown is that rates of domestic abuse are likely to have risen. Charities report a huge increase in calls to helplines and traffic to their websites. Back in April, the UN described violence against women and girls as a shadow pandemic. But we need to be wary of alarmism. It is too early to count convictions, and an increase in helpline calls may signal greater awareness that such services exist. Perhaps people who would normally confide in friends have turned instead to helplines and websites.

Thanks to the efforts of campaigners, there is now a heightened awareness of domestic abuse and a renewed determination to root it out. But this comes at a time when, despite far more expansive definitions of abuse, overall rates have been falling for many years. The Office for National Statistics notes that the cumulative effect of small year-on-year reductions has resulted in a significantly lower prevalence of domestic abuse experienced in [...] the year ending March 2019 compared with the year ending March 2005.

It goes on to explain,

The downward trend in prevalence over time is driven by reductions in the prevalence of partner abuse, which has decreased from 6.9 per cent to 4.8 per cent over the same period. Family abuse has also followed a similar trend with a significantly lower prevalence in the year ending March 2019 (2.2 per cent) compared with the year ending March 2005 (3.4 per cent).

Clearly, any abuse is appalling for victims to endure. But falling overall rates, most likely as a result of womens greater financial independence, should be welcomed.

Despite this progress some no doubt very well intentioned campaigners and politicians seem intent on seeing the home not as a haven but as a battlefield. Their solution, in the form of the Domestic Abuse Bill, is for more legislation to protect victims. Some of the proposed legal changes, such as placing a duty on councils to provide shelter for those abused, should be welcomed, although there needs to be enough funding to turn a sensible idea into a practical reality.

But other aspects of the Bill are less straightforward. The proposed new legislation sets out a new definition of domestic abuse that goes considerably beyond physical harm. It includes economic abuse and coercive or controlling behaviour. This takes us into far more subjective terrain. Relationships have a unique dynamic; what one person might consider controlling, another may not. Even within the same relationship, behaviour that may seem normal at one point may come to be considered coercive several years later.

My fear is that some of the proposals now being discussed may backfire against women. Yesterday, Theresa May warned bosses not to enforce working from home after lockdown, as this could increase domestic abuse. Many victims, she said, regarded work as a safe place, and employers need to think about that.

Although May was careful to use gender-neutral language, it is mainly women who are and are commonly perceived to be victims of domestic abuse. I am not convinced it is in womens best interests to be treated differently to men when it comes to working from home. It is a questionable step for womens liberation to ask bosses to look at their female employees as potential victims.

The Domestic Abuse Bill has been widely celebrated for putting an end to what has become known as the rough sex defence, which defendants have used to argue that women consented to sexual activities that resulted in serious injuries or even death. The new legislation is designed to send a message that some behaviours are unacceptable, even if carried out between consenting adults in the privacy of their own bedroom. But we know this already. Thats why assault and murder are illegal. The Bill signals that not all parties have the same capacity to consent, no matter what they say or how enthusiastic they might appear. The danger here is that women become reduced to the status of children.

Locked-down domestic life can be stressful. To dissipate tensions we need to get life fully back to normal as quickly as possible. We need to reboot the economy before the social problems associated with unemployment and poverty have time to take hold. But we need to be wary of legislation that encourages employers, police and juries to treat men and women differently.

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Could the Domestic Abuse Bill backfire against women? - Spectator.co.uk

As Economic Futures Remain Uncertain in the Wake of COVID-19, A Triple-Minority Financial Expert, Echo Huang shares her Timeless Plan for Wealth…

MINNEAPOLIS (PRWEB) July 09, 2020

As COVID-19 continues to spread, workers are still losing their jobs, health care systems are being stressed, and local businesses are at risk of closing permanently. Many are witnessing the most tangible and consequential failure of government in recent U.S. history, and Americans are bracing for recession. The timely release of a recent Wealth Management bestseller serves as a call to action, especially for women, looking to protect and grow their wealth in these uncertain times.

Some women prefer talking about money with female financial planners, but only 20% of all financial planners hold the respected Certified Financial Planner (CFP) designation, and only 23% of CFP professionals are women. There simply arent enough female CFP professionals to serve other women effectively.

Echo Huang is a female, Chinese-American immigrant and a mother in the male-dominated industry of wealth management and financial planning. Her firm Echo Wealth Management manages over $115 million in assets for clients, many of whom are Fortune 500 executives. As nine-year recipient (2012 2020) of the Five Star Wealth Manager Award, Huang states, I believe that increasing the number of female CFP professionals in America will help transform the financial industry and income inequality between men and women. There has never been a time when people have to be smarter about their money.

Globally, individuals are concerned about their income sources, retirement funds, stocks, bonds, and real estate assets in the current climate. Huang provides solid strategies for recovering from financial loss and how to safeguard and grow wealth regardless of who wins the November elections. She is specifically passionate about educating and assisting single mothers, immigrants managing money globally, and helping more women become successful in the financial industry. Her recent bestseller, Own Your Future, tells her personal story of overcoming adversity as an immigrant and a woman working in American financial markets.

Echo has a rare combination of technical expertise and empathy. This enables her to provide a unique perspective on wealth management that is both informative and motivating, reports Jerry Young, retired General Mills controller.

In her book, Huang provides a variety of guides and tips, such as teaching the nine cognitive and emotional biases holding you back from financial independence, explaining that you can donate to charity the wrong way, and that its possible to claim your social security benefits improperly at significant cost to your financial future.

Own Your Future is available now at all major booksellers. Learn more at http://www.echohuang.com

Huang is available for interviews by contacting TGC Worldwide. Contact us at bookecho@tgcworldwide.com.

About Echo: Echo Huang is Certified Financial Planner (CFP) professional with over 25 years of experience in the financial services and accounting industries. She helps executives and entrepreneurs across the country take the complexity out of their personal and business finances. Born and raised in China, she came to the United States with $800 in her pocket in hopes of pursuing and achieving the American dream. Through higher learning, continued education, and hard work, she gained valuable experience and extensive knowledge about wealth management, investment strategies, and tax planning. After years of working as an accountant, a financial advisor and partnering with other financial firms, she founded Echo Wealth Management in 2015. She offers in-depth financial planning and personalized investment management services for professionals, executives, and entrepreneurs. She is an expert in stock options, trading plans, and Deferred Compensation Plans. As an investment professional with CFP, Certified Public Accountant (CPA) license and Chartered Financial Analyst (CFA) charter, she is sought after to create personalized financial plans and execute the holistic strategies.

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As Economic Futures Remain Uncertain in the Wake of COVID-19, A Triple-Minority Financial Expert, Echo Huang shares her Timeless Plan for Wealth...

The Financial Reporting Council Reports On Conviviality And Autonomy – JD Supra

The Financial Reporting Council has had a busy week. It has published its plans for changes at the Big 4 accountancy firms, and further evidence of its enforcement success on failed audits in Conviviality and Autonomy has emerged. In particular, the finding against Deloitte and two audit partners in the Autonomy case will confirm the need for reform as the Tribunal, chaired by Lord Dyson, has found that they signally failed in their public interest duty to uphold reliability of the reporting of Autonomy, which was an FTSE 100 company. On any view, this is a very serious finding and is only one of a number of other serious findings.

The changes to the way the Big 4 firms are structured came as no surprise. A number of independent reports have called for fundamental change, to remove the appearance that independent auditors are in conflict with other lucrative opportunities for the same client such as consulting. Too often, the evidence shows that auditors are not prepared to challenge management on its accounting policies and financial statements as much as they should. In the jargon of audit, the professional scepticism of what they see in the companys books is not what it should be.

The FRC has stated one of its main objectives of the reforms will be to improve audit quality by ensuring that people in the audit practice are focused above all on delivery of high-quality audits in the public interest. Good timing perhaps in view of the findings by the tribunal in the Autonomy case, but it also follows much criticism of audit firms in the independent reports, Parliament, and the media with the same complaint. The FRC is asking the Big 4 firms to agree to operational separation of their audit practices and to provide a transition plan by October, with implementation by 30 June 2024 at the latest.

The FRC reforms have the following overarching themes:

The Autonomy case resulted from claims by HP in 2012 that, following its acquisition of Autonomy, it had discovered that the valuation of the company was substantially overstated by billions of US dollars. There have been settlements, civil claims, and criminal trials in the UK and the United States, and now the FRC has successfully proved its case against Deloitte and two senior audit partners. The details of the findings are not yet published, as the tribunal must first decide on the appropriate sanctions, including a financial sanction for Deloitte, which is almost certain to be the highest yet as the FRC has suggested 15m and Deloitte has acknowledged that it will be over 7m There will be no discount, as Deloitte challenged the allegations before the tribunal.

The audit by Grant Thornton (GT) of alcohol supplier Conviviality Retail is the other enforcement case that was published this week. This case involved a settlement with GT, which reduced the fine from 3 million to 1.95 million. The allegations involved a failure to follow the strict ethical rules that prevent members of the audit team at GT from joining the audit client without a period of cooling off.

As Director of Enforcement at the FRC between 2012 2017, these developments are not a surprise to me and are a consequence of far greater attention being placed upon the quality of audits and the need for the large accountancy firms to exhibit robust independence in the audit of listed entities where shareholders are entitled to expect that financials statements, reports to regulators, and public announcements are challenged by auditors when appropriate.

The government also has a role in this to ensure further reform. This will include the introduction of rules for boards, directors, and those preparing financial statements to ensure breaches can be dealt with by the FRC successor body the Audit Reporting and Governance Authority. If the auditor is at fault, it usually also involves those at the corporate client, so the powers to investigate all concerned must be equally robust. Perhaps the most important reform that will make a difference alongside the reforms discussed here will be the requirement for auditors to look more carefully at the financial statements to see if there has been fraud or other serious breaches of laws and regulations. That reform does not need an auditor to become a detective, but a far greater degree of curiosity about the accounting for significant sums of money would be a good start.

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The Financial Reporting Council Reports On Conviviality And Autonomy - JD Supra

This Programme Helps Students Secure Job and Financial Independence Early In Life – Entrepreneur

HCL's Techbee prepares students technically and professionally for entry-level IT jobs in the company where candidates undergo an extensive 12-month training to become software engineers

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June20, 20203 min read

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

India has emerged as the IT hub of the world, attracting major IT companies to set their offices on Indian soil. One primary reason that pulled these firms was the availability of a vast chunk of the untapped workforce. There also has been a soaring interest among school going kids to set their foot in the IT sector. However, over the years, admission fees in engineering colleges have skyrocketed, proving to be a hurdle.

To address this issue, HCL launched Techbeea work-integrated higher education programme that not only guarantees a job in HCL but also provides financial assistance to students.

Launched in 2017, this early-career programme trains and hires students who have completed 10+2 education. The program offers IT engineering jobs by equipping students with future-ready skills, fundamentals of information technology learning, understanding relevant software tools, processes and life skills during these 12 months of training.

It prepares students technically and professionally for entry-level IT jobs in HCL where candidates undergo an extensive 12-month training to become software engineers.

TechBee was started in 2017. Our idea was to catch the students young and train them on global technologies that make them job-ready. We came up with this programme because we realized there is a huge skills gap in the Industry. In the last two years, I am happy to share that over 2,000 students have done this programme and have joined HCL as employees, said Sanjay Gupta, corporate vice-president and program director-New Vistas, HCL Technologies.

Interested students who wish to enrol for the programme undergo an entrance test followed by an interview round. During the training, enrolled students receive a stipend of INR 10,000 per month, which builds in them a sense of self-reliance.

Upon successful completion of the training, candidates get to work in prestigious projects at HCL Technologies in areas of application and infrastructure support, testing and CAD Support, added Gupta. The entry-level job in HCL offers a salary of INR 2-2.20 lakh per annum.

If a student secures 90 per cent or above in the training then there will be a100 per cent waiver on the fees, while a 50 per cent waiver is offered when a candidate scores between 85-90 per cent.

While working at HCL, students may also enrol in the graduation degree programme offered by reputed universities such as BITS Pilani and SASTRA University.Due to the COVID outbreak, the entire programme has been moved to a digital platform

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This Programme Helps Students Secure Job and Financial Independence Early In Life - Entrepreneur

FIRE in this Time – Resilience

Is F.I., S.I. Socially Intelligent?

Against the backdrop of the fire and rage in Minneapolis following the police murder ofGeorge Floyd, reminiscent ofpolice beating of Rodney Kingin LA in 1991, nearly 30 years ago, with many black deaths in between, what could possibly be the relationship of financial independence and the FIRE community to the unraveling in our society?

Are we quiescent on the edges, tending to our own business of careful managing of our money to reach financial independence? Are we concerned but powerless given our debts and gratitude for secure jobs we want to keep? Do we wonder what the connection might be between our brilliant strategy of buying our freedom through building capital and the unfair system that affords us the opportunity? Is the unrest close at hand for you or far away and does that make a difference in how we respond?

The title of this post, FIRE in this time, keys off another era in the life of Black people in America. James Baldwin wrote Fire this Time. He said,The brutality with which Negroes are treated in this country simply cannot be overstated, however unwilling white men may be to hear it, The title was taken from a prophecy recreated from the Bible in a song of a slave:

God gave Noah the rainbow sign,No more water, the fire next time!

Racism and injustice is the shadow of America, and its worthwhile to pause and take account of how our approach to money, called FIRE (financial independence retire early), may get us off the hook of a job, but not off the hook of being part of systems that rewards the already privileged and send disadvantaged to the margins.

This is not your typical financial independence post, encouraging you to continue, giving your mental and practical tools for your own road to FI. Here I intend to pose to you the tough question Ive asked myself for years: how does taking personal responsibility for our finances relate to the global economys preferential treatment of capital over people? In FI, we focus on personal responsibility; is social responsibility just not our thing?

Last Sunday I gave the keynote at theVirtual Camp MustachetitledAre we just clever or are we wise?

In it I praised the brilliance of the Your Money or Your Life program in liberating individuals myself included and went on to ask: what is the shadow of this bright light?

I used this visual to explore that question.

The classic FI program helps you set up a system for observation of your daily life transactions, the emotions that arise from being stuck in the work and spend cycle, and the beliefs that drive us to accept that its the only money game we can play. Our feelings about our money lives can yoyo from elation (I just bought the thing I wanted) to despair (Idiot! Youll never pay it off or play with it). Our beliefs, drummed into us from all communication channels, are rooted in the basic mantra of society: More Is Better.

Thats where FI comes in. We pop out of that nightmare into a new dream, a dream of freedom, and doing what we want with our time. The steps of the program help us systematically unhook. We dont struggle to adapt to the work and spend cycle, only a bit more peacefully. We jump ship, while using the advantages of the capitalist system we live in to buy sufficiency and security and freedom.

However, the book and the teaching only lightly touched on that capitalist system itself and on the impact of the design of money on life on earth.

Where does More is Better come from? The economys imperative: Growth is Good.

Its the demand of capital to turn a profit. Businesses need consumers. If the flow of consumption shuts down as we are now seeing they go under. Where does the imperative of growth come from? Some say, Humans are greedy, but I believe greed is just one way humans behave. We also share, love, prefer rest over work, value learning and relationships over the quest for more. I believe that the design of the money system encourages greed, even requires greed.

The right to issue money does not rest in the government. It rests in the Federal Reserve and its member banks. The Fed attempts to Goldilocks the economy not too hot, not too cold, just right through the prime rate, the interest banks pay on the money they borrow from the Fed and then turn around and lend at a higher rate to consumers. The US government authorizes the Fed, a private corporation, to run our money system. Banks do not have to have, in deposits, the money they lend to consumers. They only have to have 10% of that money in deposits, the rest is assumed to be created as people pay back their loans. This is called theFractional Reserve.Money created this way is really a lien against future life energy money of the borrower. Some people end up indebted for life.

The last element that drives the Growth is Good imperative is the interest the banks charge on loans. Depending on the interest rate and the term of the loan, the borrower will need to come up with 2 or 3 times the original loan. The economy has to grow if borrowers are going to prosper enough to pay their loans with interest. Enough amateur economics its just important to understand what money is at a systemic level. Class dismissed.

No system in nature grows forever. Its juvenile i.e. the characteristic of a body as it grows into maturity. Mature systems trees, forests, species in ecological niches grow in connections, not size. All mature systems are kept in balance by the give and take of animals, plants, sun, water, land, opportunities to flourish. A species that dominates a system without any predators to keep it in check will eventually eat through the easy and available energy (food) sources. The population will expand until all food is gone, and then collapse in numbers to restore the balance. Humans discovered the energy of the sun in the form of fossil fuels. While it looks like the sky is the limit, the market always goes up, are we reaching the end of our expansive economy? Much debate, but worthy of consideration.

Our economy treats the earth as resources. It assumes fungibility if we run out of one resource, we can substitute another. Youre smart. You can see where that is headed.

Back to the Your Money or Your Life definition of money, now with the design of the money system and the finite earth in mind.

Money is something you choose to trade your life energy for. When you see how the work-and-spend cycle uses up your life, you choose conservative spending and building savings. You choose to live within the limits of your own life energy.

Where does the life energy freed up from earning money go?

I suggest you consider investing it some, part or all in building up a life energy account for the earth. What does that mean? Just about any form of service:

And on and on and on. If you dont need to earn money from how you spend your time, you can spend your time on some piece of making this work more safe, fair and free for all.

We conserve material resources by valuing enough and moderating consumption to just what we need.

We use our creativity and skills to maintain and fix what we have rather than toss and replace. Check out theFix-it Clinic,created by FIer Peter Mui.

We have time enough to love. And to care about the future for all life, not just our own.

Duane Elgin, one of the grandfathers of our movement, quotes Richard Gregg in the opening of his book,Voluntary Simplicity, saying our purpose is to have a life that is outwardly simple and inwardly rich.

I know a lot of you are on this path or aspire to it. Perhaps the only next step needed is to aim higher and to wear your care for more than money like a badge of courage.

While what we do with our time post FI is ours to choose, the backdrop of our lives is not. We live in a time of punishing racial and financial injustice. We live in a time when humans have driven hundreds of thousands of species into oblivion, and may be driving ourselves off the extinction cliff. The pandemic has denied tens of millions of people their income and along with it their health care. Black and brown people are dying at twice or more the rate of whites because racism makes being black or brown in this world is a pre-condition or vulnerability to the virus. So however we choose to spend our time, these realities are calling to us. What we do with our lives is our leadership, especially because people whove achieved FI are natural beacons for others. Where are you leading people? What is your beacon telling them about the responsibilities that come along with the right to retire? The protests this week mean that racism is now in all of our faces, is all of our business. The good thing and there are many is we have time enough to educate ourselves and act.

(Originally published May 29, 2020, on http://YourMoneyorYourLife.com)

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FIRE in this Time - Resilience

Why Early Retirement Is a Wrong Goal – Morningstar.ca

I am going to pen down my thoughts on an acronym I dislike, but given its popularity, I cannot ignore. The movement that is reframing retirement discourse: FIRE Financial Independence, Retire Early.

I bear no ill towards those who evangelize on the merits of FIRE. In fact, I admire their grit and focus to kick up the 9-to-5 routine and live life on their terms.

I, on the other hand, dont have the courage to contemplate an early retirement, considering lifes unexpected curveballs. Moreover, am shamelessly addicted to the monthly paycheque. Lastly, Im not in the least bit enamoured by the early retirement proposition; I like showing up to work daily.

What grabs my attention is the other part of the equation financial independence. This must form the basis of everyones financial strategy, irrespective of when they plan to retire.

For those who believe an early retirement is some sort of nirvana, here are some pointers to use as a compass to point you in the right direction.

#1. What is it that you are retiring from, and retiring to? Are you planning to quit working altogether and indulge in hobbies such as gardening, cooking, travel and volunteering for a cause you feel passionate about? You may opt for a partial retirement where you work as a consultant or opt for freelance projects. Retirement is not a destination, and certainly not a happily ever after reality. You have to plan through it. Building up a retirement corpus is just one aspect. Figuring out your life and how you plan to spend your time is the other. It would be a shame if you attained the financial independence to enable an early retirement, only to be confronted by an existential crisis. Be sure to ask yourself what it is that is driving you. If it is just dislike for your job and the lack of fulfilment, maybe a thoughtful career change would do the trick. If the long commute and city life are wearing you out, would you be open to relocating? The point I am making is not to assume that the only way out is an early retirement.

#2. Start with a different construct. The moment you start from a different context, there will be a paradigm shift in your thinking. Wrong goal: Retire early. Correct goal: Financial independence. Wrong question: At what age must I retire? Correct question: What are the emotional, mental and physical issues pushing me to retirement? Wrong target: What corpus size will be sufficient? Correct target: What will be my source of income and cash flow when I retire? Evidently, there are interdependent factors at play. None of the above can be answered exclusive to the other. But this practical approach will throw light on what you perceive as financial independence. Your magic number may be a million dollars, but for someone of the identical age and similar social status, it could be two million. After all, financial independence is not just a number. It is not about having money to cover all your expenses. It is about psychological independence too. What is the corpus amount that will help you overcome your insecurity? What is the income that makes you feel taken care of?

#3. Are you ready to live frugally? The harsh reality that underpins it all is the fact that early retirement is predicated on significant sacrifice. Unless you are earning obscene amounts of money, you will have to get thrifty. To retire early, you should be saving at least half of your salary and keeping spending to a low. Now it need not be extreme. Recently, I learned of a 36-year old corporate lawyer in New York who lives in New Jersey to avoid taxes, is reluctant to turn on the heat during winter, and eats mostly rice and beans so that he can save 70% of his salary. If you are seriously contemplating retiring early, please watch this 12-minute video of a couple who retired before either of them hit 40. It is tempting, but incorrect, to view financial independence as a pendulum swinging between two extremes - either you are financially independent, or not. View it as continuum. View it as a scalable project. With every single decision and every single paycheque, you are moving closer to financial freedom.

#4. Be open to disruption. Lets assume you retire. Expenses change. It could well be that your lifestyle has been inching upwards and you need more than what your savings and investments provide for. You may find that your calculations were wrong; you assumed too low a rate of inflation and too high a return. You could have a tragedy in the family that forced you to dip into your corpus. In all the above circumstances, you may have to get back to work. Keep upgrading your skills. Develop new ones. You need to have something to fall back on should you have to rejoin the workforce. Keep networking, even if it is low-keyed.

#5. It may be wise to take professional help Financial independence and early Retirement are not necessarily linked at the hip. They exist independently too. To retire, you must be financially independent. Though I do know of individuals who are dependent on their children for support. You can be financially independent and choose not to retire. Plenty fall into this category. Retirement is solidly on your own shoulders. Most safety nets have been pulled out. Dont make any decision lightly. The earlier you retire, the more the time your money will have to suffice to out-save inflation and non-working years. Being old and broke is a terrible reality. Dont be afraid to seek professional expertise.

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Why Early Retirement Is a Wrong Goal - Morningstar.ca

A Pathway To Peace: Ideas For A New And More Resilient Reality – Honolulu Civil Beat

Just as the current global health crisis has exposed the cracks in federal and state leadership and infrastructure, so too has it accentuated warnings about environmental challenges ahead.

As author Naomi Klein recently pointed out during a Fridays for Future webinar, our normal was grim to begin with. Headlines about the reduction of air pollution and the return of wildlife to Venetian canals while giving false hope about the climate crisis demonstrate changes that, according to a recent study, are likely to be temporary as they do not reflect structural changes in the economic, transport or energy systems.

Whats needed, therefore, is not a return to our old ways, but a recalibration of policy and economic models that will serve the interests of our communities and prioritize the local quality of life and environment over offshore profits in the post-COVID rebuild.

The Institute for Climate and Peace, for which I serve as Senior Advisor and Co-Founder with Maya Soetoro and Research Assistant, Naima Moore, advances a peaceful, climate-resilient future by embracing the inherent wisdom, power, ingenuity, and voices of the communities that we serve. ICP is guided by the belief that environmental shocks must be met with innovative and transformative solutions that conjoin peacebuilding problem-solving methods with rigorous research of climate change to respond to climate crises, reduce friction, and build social cohesion through locally-based and culturally-appropriate responses. Our theory of change depends on the understanding that climate awareness is needed to build and maintain peace, and peace is needed to be resilient to the powerful storms on the horizon.

So, how do we build peace?

By turning to the positive peace framework, we can understand climate resilience and resilience to shocks in general in a new way. Research from the Institute of Economics and Peace identifies positive peace as a framework that shifts the focus away from the negative to the positive aspects that create the conditions for a society to flourish. Their eight indicators include, among other things:

Taken simultaneously, these pillars allow us to envision a new future one in which communities are better equipped to mitigate dangers of emergent threats and protect vulnerable populations.

COVID-19 has laid this fact bare, and it has reminded us that we need to be ever-vigilant if we want to prepare for the other crisis of the moment: climate change.

Climate change is on the mind of many people, including in Hawaii, where rising seas regularly flood coastal roads.

Cory Lum/Civil Beat

The current moment serves as a foreboding preview of catastrophic climate events to come, and its far-reaching devastation is precisely the kind of crisis that climate experts have warned us about for years. In their model, the emergence of this sort of sudden yet predictable crisis combined with a rapid and silent acceleration is soon to become commonplace.

Research shows that climate change, often coined as a threat multiplier, can exacerbate inequalities in a region and disproportionately affect poorer countries or individuals, women, and marginalized communities of color. In Hawaii, it could mean greater food insecurity, environmental degradation, and health disparities among Native Hawaiian and Pacific Islander groups.

Understandably, many are looking to shift this moment into a portal, as Arudhati Roy called it, through which we might find a better way of being. Positive peacebuilding within our communities is the method that stands the best chance of getting us all of us there.

In the midst of this crisis and despite the tragedies that surround us, the communities around the world with high levels of positive peace including social cohesion, investments in physical infrastructure, and transparent, accountable leadership have also shown us what a successful response can look like. In this way, the necessity of positive peacebuilding work is being proven.

Kuuleilani Samson cleans up an encampment on the rocky edges of Mauna Lahilahi Botanical Garden. Neighbors took it upon themselves to restore the garden which had been taken over by transients.

Kuu Kauanoe/Civil Beat

It is the countries that often rank highest for levels of positive peace, such as New Zealand, Iceland, Canada, and Japan, that are proving to be the most prepared for this crisis. And interestingly, when the framework for peace is already in place, not only can countries respond more effectively, but a communitys unity can even be accelerated. This was seen in Aceh, Indonesia, where a 30-year civil conflict was interrupted by the devastating earthquake and tsunami of 2004. That crisis triggered a return to negotiations and a peaceful settlement that has lasted.

We can also see this work in our local communities today. From first responders and food banks to local schools and grocery stores, community networks and neighbors are emerging as critical parts of the safety net protecting many from a free fall into conflict or chaos. Volunteer mutual aid groups are reporting record numbers of signups, and more than a quarter of a million people responded in a single day to the UK governments recent call for volunteers.Governments are leveraging resources to offset lost income, to provide free rent and cover tax payments, and to subsidize basic services to keep communities insulated from the worst outcomes of the crisis.

These are stepping stones on the pathway to peace, yet we must investigate and rework them to protect all rather than just some populations. And we must pay particular attention to those that have been at the bottom of an insidious racial hierarchy.

Hawaiis reopening provides the opportunity to weave positive peace and climate resilience into the fabric of a new political economy. It starts by translating climate resilience and peacebuilding into tangible, culturally-responsive processes, that allow us to not only recover from this crisis but lay the groundwork to mitigate and be resilient in the next.

Examples of this include the ina Aloha Economic Futures Declaration, which was sent to Gov. David Ige last month and is the first part of an effort to create a sustainable, pono economy based on centuries of island-based values, and the feminist economic recovery plan for Hawaii, from the Honolulu State Commission on the Status of Women, which recommends shifting away from our lopsided reliance on just two industries (tourism and the U.S. military), and focusing on sustainable economic opportunities, more access for women and Native Hawaiians to capital to promote their financial independence, midwifery, green jobs and other initiatives. These projects are critical in serving as a springboard for a more peaceful Hawaii, one that can indeed bounce forward after shocks.

Other vital initiatives could include:

As we work toward a new and more resilient reality, let us consider ways in which we can promote the interests and peace of our local communities and our environment, of which we are a part. Our economic policy cannot afford to revert back to normal, but must instead reimagine what equitable and green social prosperity looks like in our islands.

Should we prove unable to use this moment of pause to restructure our current systems, we risk a fragile peace amidst a fragile climate in the immediate years ahead.

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A Pathway To Peace: Ideas For A New And More Resilient Reality - Honolulu Civil Beat

Ex-Giant Devon Kennard building a future in real estate – Giants Wire

Its been a few years since he was a member of the New York Giants, but many will remember linebacker Devon Kennard, a fifth-round pick of Big Blue in the 2014 NFL Draft.

Kennard spent the first four seasons of his NFL career with the Giants before moving on to the Detroit Lions and then signing with the Arizona Cardinals this offseason.

Everybody always says NFL really stands for Not For Long. Due to previous injuries that Kennard suffered in high school and college, he hasnt turned a blind eye to the fact that he wont be in the league forever. Although hes played all but two games over the past four seasons, eventually, like all NFL players, the time will come where Kennards playing days are behind him.

I realized I wanted to reach success and financial security and financial independence for myself and my family with or without football, Kennard said recently, via Forbes. And my college career kind of showed me you never know whats going to happen with football.

Kennard is now building a future in real estate as he continues his NFL playing career. Conveniently, after signing with the Cardinals, Kennard is back in the state where he was born and played his high school ball.

With his familiarity with the area, its likely Kennard is now able to build his career outside of football better than he ever has. He has been working on his real estate craft over the last 10 years and has learned the game of smart investing in real estate.

My goal is to continue to grow, and I want to become a big real estate mogul when Im done playing, Kennard says. Im starting to build up to that now. And when Im done playing in the NFL, thats when Ill go all in.

Kennard, who will be 29 in a few days, graduated from USC with a degree in communications and business management. With many struggling to fill their time following their NFL careers, Kennard knew early on in his life there would be a lot of life to live following football.

Whenever he does decide its time to hang up the cleats, Devon Kennard seems to be set both financially and has an activity to focus on during life after football.

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Ex-Giant Devon Kennard building a future in real estate - Giants Wire

Woe Is Me! "My Parents Want Me to Marry Soon, But I’m Just Not Ready" – The Swaddle

Woe Is Me! is a series in which The Swaddle team indulges your pity party with advice youll probably ignore.

I fear the idea of marriage and am not mentally prepared for it at all. When my parents say they wish Id marry soon, it drives me crazy! How do I tell them Im not ready?

No Nuptials Please

RD: Tell them what you associate with marriage. Tell them how you see gender roles playing out, how much happiness you expect to get/not get from the institution, tell them everything else youd rather do instead. Tell them times have changed, and marriage isnt the only goal for youngpeople anymore. Tell them youre hoping they understand and decide to support you because youre not about to change your mind. Sometimes, pushing back on pushy parents is the only way to get them to stop. They may not even realize how annoying theyre being pushing their child for marriage might be the only thing they know. But you have to sit them down and explain, and pray they understand.

KB: I believe your autonomy as an adult is paramount, and you should have the agency to make whatever decisions are right for you without the influence and pressure of family members who impose their hang-ups on you. But I also recognize that if you dont have a family that respects your autonomy, it is very difficult to get out from under the weight of those layered expectations. The truth of the matter, though, is that if someone else pressures you into a major life choice that you then take without any sense of agency, you will end up unhappy.

There is no long-term happiness in making decisions to appease other people. I want to say just tell them youre not ready, but I realize thats facile advice in this situation. You may want to approach them strategically, using whatever tools will speak to their particular arguments (like stats, emotional appeals, career goals, etc), and explain that you understand their concern, but now is not the time. Usually, parents just want their kids to be happy, and they see life-partnership as one stepping stone on the path to happiness. You wont be able to undo this perception of theirs no matter how hard you try, so I think the best you can do is have an open conversation about how its too soon for you.

However and this is very important dont squander this time. If you manage to convince your parents to give you a few years of no pressure, use that time to solidify your career prospects and ensure your financial independence. The single most effective tool you have to convince your parents that you cant be pressured into anything is the ability to live completely independently. If you live under their roof, and depend on their largesse, you will always have to live by their preferences. Respect and treasure the parents who love you and want your happiness (in whatever misguided way), but also understand that financial independence is the crucial difference between being able to nod-and-ignore and being forced to make life choices based on their advice.

DR: Ah, one of the commonest woes of most Indian, unmarried women! I think, you need to sit them down, and explain calmly, and in detail, why youre not ready for the commitment and responsibility that this institution entails. Honestly, I dont think this will get them off your back completely so, heres the next step: statistics. Do your research, and tell them the statistics of marriages failing worldwide because of people being pushed to marry without being ready. Tell them, samaaj kya kahegi (what will society say) if a marriage youre unprepared for breaks down too. Indian parents fear society more than anything else, and I hope that works out in your favor. Good luck!

AM: Your woe is so relatable! The idea of marriage can be overwhelming and youre right, it requires a lot of mental preparation. But what you need to ask yourself is why is it that youre not ready? Which part about marriage scares you the most and is it something you can work upon? You need to think of all this only if you want to get married sometime in the future. If youve decided to never get married, then there is no need to thinkbut you have to convey it to your parents as soon as possible and work on making them accept this fact.

I used to think parents force us to get married because everything should happen at the rightage, but over the years, Ive realized that I never really thought about it from their point of view. In India, its that one big life event that they think they are responsible for and feel the need to get done with it while money, age, health are on their side. Without getting their kids married, it gets harder for them to plan their retirement, utilize funds for bigger investments, and think of doing things theyve always been wanting to do but ended up saving money instead fortheir kids to secure theirfuture.

Its also that one big responsibility taken off their shoulders that gives them the opportunity to travel, spend time with each other and more. They dont do it because oflog kya kahengeall the time, there are a lot of other practical decisions involved behind their pressure to get married. So if you can have a conversation with them about how your getting or not getting married is affecting their life currently and whether it is being an obstruction for them in planning their future, you might have a better idea about why they think you should get married soon. Of course, that doesnt mean you have to sacrifice yourself into getting married if youre not ready but at least itll help you warm up to the idea of marriage if its something you are interested in and will do at some point.

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Woe Is Me! "My Parents Want Me to Marry Soon, But I'm Just Not Ready" - The Swaddle

Returning To Work With A Mental Illness Is Possible – Forbes

Returning to work with a severe health condition or recent injury can be hard enough. Battling the same misconceptions and stereotypes during a global pandemic can seem like even more of a challenge.

But there are ways to succeed, and the rewards can be tremendous. Financial independence, a sense of control, and greater integration into the community are all benefits people report to us after theyre able to return to work.

Some disabilities are easier to see than others. An employer may understand a reasonable accommodation for someone with back pain and an inability to sit for long hours. With other health conditions, such as mental health, the accommodations process may be more challenging.

Approaching the issue of mental illness can be tough both for the person with a disability and the potential employer or HR department. It can be done with careful steps. One of the things I highly recommend to someone in this position is to have a discussion with a trained career consultant on the best way to communicate on these topics to potential or former employers.

If you are returning to work following successful treatment of mental illness, then its important to think through your steps in advance. For example, having a conversation about accommodation or your illness should be conducted after the application and interview processes are complete, and even more preferably once the position is officially offered and accepted.

Besides navigating the uncertainty of disclosure, it can be harder to find the right fit within the workplace. For example, with the people I help return to work, I find those with anxiety disorders may struggle to be around people in the work environment all day. They might need to limit their face-to-face interactions to avoid a triggering or upsetting situation. In these cases, I guide them toward a more independent job or coach them on how to request a remote work setup.

When I first started working in this field, mental illness wasnt as easily recognized or discussed as it is today. People who are trying to go back to work following effective treatment, generally, are much more comfortable discussing their health than they were years ago. In addition, proponents have been leading the way toward a more inclusive and diverse society.

Sadly, despite some progress, mental health issues still retain a stigma. We need to keep going and recognize mental health as important alongside physical health. The truth is, many people are coming forward to share their experience with depression and anxiety as a result of the COVID-19 pandemic. Mental health needs are common among all types of individuals, no matter their gender, age or other characteristics. A diagnosis is simply that: a diagnosis. All conditions, whether physical or mental in nature, need to be acknowledged and respected.

I direct those I counsel toward the Social Security Administrations free Ticket to Work program. Its designed to help individuals who reach medical recovery to begin their return to work while protecting their Social Security Disability Insurance (SSDI) benefits.

I also guide job candidates on how to showcase their unique talents and skillsets to employers. Its vital to show how hiring people with disabilities creates a more inclusive work environment, filled with different perspectives and strong work records, usually with many years of experience. In fact, SSDI recipients have on average 22 years of prior work experience.

I have worked with people who have all sorts of disabilities, physical and mental, including people who need treatments on a daily basis. Many individuals with mental illness thrive at work. Their health conditions dont stop them from contributing to the team.

The best advice I can give is this: Never say never when it comes to returning to work. Medical conditions can improve with treatment, and the Ticket to Work program is available for anyone who wants to try working again without risking their benefits. If someone wants to return to work and become financially independent, they will use whatever tools are available to help them succeed. It all comes down to motivation, and I have found many people with mental illnesses have the motivation and ability to surpass these obstacles to find employment success.

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Returning To Work With A Mental Illness Is Possible - Forbes

Consider Something Better is a call to fund Black women-owned businesses – TODAY

While Black female entrepreneurship is rapidly growing in 2019, women of color opened more businesses than any other demographic, according to one report they're historically underfunded. Businesses with CEOs who are women of color get less than 1% of venture capitalist funding each year, according to Forbes.

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A new initiative aims to change that. Last week, Lauren Napier and Whitney Brown launched Consider Something Better, which calls on corporations to fund businesses owned by Black women.

Brown, creator of the digital platform Meet the Owner, said that in talking to Black business owners, she started to see a similarity in their stories: "The common denominator I found was that there was a lack of funding."

Through their initiative, Brown and Napier are calling on companies to donate $250,000 each to contribute to a goal of $5 million. King is one of the more than 300 Black women who have applied for funding. While they haven't received any commitments just yet, they've begun conversations with several corporations, Brown said.

Napier said teaming up with Brown was inspired by her own struggles while growing her business. She started her brand, Lauren Napier Beauty, with a tax refund check and a credit card inside her studio apartment in Manhattan. At times, her kitchen was full of bubble wrap and her bed piled high with products and packages ready to be shipped to customers.

"It was me pushing a grocery cart to the post office," Napier told TODAY. "There were times I was sleeping at a friend's house because my apartment was filled with boxes. It's hilarious and also sad because I went to the bank and they didn't understand my business. They didn't trust me with their money."

She's since expanded her business, known for its popular makeup remover wipes, into a global brand that's available in 22 countries. But she knows how much she would have benefited from funding in those early days, and she knows how much funding would help women like King. For starters, King, a single mom, wouldnt have to work a 9-to-5 job in addition to running her business.

As protests against racial injustice continue across the country and people look for causes to support, Brown and Napier hope they'll take a moment to consider Black entrepreneurship.

"Police brutality is happening and it's visible and it's painful and it hurts to see, but what's more painful and damaging to our communities is our lack of financial independence and the inability to grow," Napier said, pointing to pay disparities and the decline in Black homeownership as other elements in the cycle of financial insecurity.

She said that by lifting up Black women in particular, entire communities will thrive.

"We are an industrious, creative people," Napier said. "We have had to be since the beginning. We have always overcome adversity. Imagine what we could do. I really think the investor community and the banking community need to take a hard look at investing in people of color, specifically Black women. It's important."

Rheana Murray is a senior lifestyle reporter for TODAY at NBC News. To see what she's working on, follow her onInstagram.

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Consider Something Better is a call to fund Black women-owned businesses - TODAY

Sisi’s era seen as ‘one of the worst ages’ for famed Al Azhar – TRT World

Egypts Al Azhar, central to Islamic education and religious life for centuries, has lost a lot of its shine under Sisis regime.

Across the Islamic world Egypts Al Azhar and Tunisia's Al Zaytuna are regarded as the two oldest functioning educational institutes, both of which were originally built as mosques respectively in the 10th century and the 8th century.

For over 1000 years, the two educational institutions have served as the main centres of Islamic learning alongside natural and social sciences, graduating an untold amount of students, including an historical icon like Ibn Khaldun.

But more than any other Islamic learning institution and organisation, which included Al Zaytuna, even in modern times, Al Azhar has stood as a symbol of traditional Islam, where authentic Muslim texts have continued to be taught by its traditionally dressed scholars.

Al Azhar was built by the Fatimids, a Shia dynasty, in 972. It became a Sunni institution after Egypt was conquered by the Ayyubids, a Sunni dynasty, in the 12th century. Al Azhar currently has more than 2 million students and 4,000 teaching institutes across Egypt.

What makes Al Azhar unique among its contemporaries is its history. Few Islamic institutions of learning have been around for over a thousand years. The only comparable institutions are Al Zaytuna in Tunisia and Al Qarawiyyin in Morocco. Everything else has disappeared, said Usaama al Azami, a British-Muslim academic and a lecturer in Contemporary Islamic Studies at the University of Oxford.

Those institutions are older, but don't have the very vibrant and diverse scholarly environment that Al Azhar can boast. Egypt has also historically been a major centre for Islamic learning that has allowed for the existence of all four Sunni schools, al Azami told TRT World.

The continuous suppression of dissent under successive autocratic leaders from Gamal Abdul Nasser to Anwar Sadat, Hosni Mubarak and most recently Abdul Fattah al Sisi, has taken its toll on Al Azhar and most other institutions.

The loss of its prestige has become particularly apparent after the latest military coup in August 2013, when Sisi ousted the countrys first-democratically elected President Mohammed Morsi, who passed away in a courtroom hearing last year today.

The era of the coup is considered one of the worst ages that passed on Egypt and Al-Azhar. The dawah [invitation to Islam & Islamic learning] and preachers suffered a great scourge that caused the decline of the dawa in various fields, says Dr Jamal Abdul Sattar Mohammed, a former Professor at the College of Islamic Dawah at the Al Azhar University.

After the coup, Dr Mohammed was one of those academics forced to leave Al Azhar. He arrived in Turkey in 2014 and has since lived in exile in Istanbul along with several others.

The coup and the military-dominated rule resulted in Al Azhar losing a lot of its status and respect in the hearts of people in the era of Sisi because it implicated the institution in shameful situations that contradict the intuitions of religion and its constants, Mohammed told TRT World.

Mohammed is of the opinion that Al Azhar has lost its reputed status as a leading Islamic learning institution.

It became clear that the security services are the ones that manage Al Azhar, and that they control [much of what the institution produces], Mohammed said.

Al Azami from the University of Oxford also thinks that Al Azhar has been increasingly politicised in modern times under Egypts autocratic regimes.

The modern Egyptian state became extremely aware of the significance of Al Azhar, going back at least to the time of Gamal Abdul Nasser [former Egyptian president]. For him, there was always a concern about independent centres of power. A 1961 law brought Al Azhar into the domain of the state, so the institution no longer enjoys any financial independence, al Azami said.

Before the autocratic takeover, the Sheikh of Al Azhar or the Grand Imam of Al Azhar, which was institutionalized by the Ottoman Empire in the 16th century following the conquest of Egypt by the Ottomans, would be elected by the Committee of Senior Scholars.

Under Nasser, the committee, which was founded in 1911 as an organ of the independent waqf or foundation, was replaced by the Center for Islamic Research, which became part of the government structure under the Ministry of Awqaf or Endowments, five decades later.

Al Azhar had complete independence from an administrative point of view. The election of the Sheikh of Al Azhar was one of the tasks of the Committee of Senior Scholars only, but the committee was canceled during the era of Abdel Nasser, Mohammed, the former Al Azhar scholar, said.

As a result, the Egyptian president began appointing the Sheikh of Al Azhar according to his own criteria, which has more to do with politics than Islamic learning or any proper scientific status, according to Mohammed.

This made the Sheikh of Al Azhar as more representative of the [oppressive] political system than that of scholars, Mohammed reflected.

While most regular scholars at Al Azhar have apparently done their best to continue independent research, the top management of the institution has been under the thumb of autocrats in Cairo.

Al Azhar became an institution, issuing fatwas [religious edicts] and opinions in parallel to regional and global political processes, says Abdurrahim Sen, a Turkish expert on political Islam.

Al Azhars politicisation process has shown its results. During the Arab Spring protests, the Grand Imam of Al Azhar, Ahmed al Tayep, issued a statement in favor of the Sisi regime.

The Sheikh of Al Azhar Ahmed al Tayep called the then-President Hosni Mubarak as the legitimate ruler and he found any participation in the protests against his rule (religiously) illicit, Sen told TRT World.

Tayep was also a former member of Mubaraks National Democratic Partys policies committee. Since the late 1970s, the party had led Egypt single-handedly without any real contest until its collapse in 2011 after the Arab Spring protests.

Following the short-lived democratic transformation, Tayep also backed the military coup of Sisiin 2013 against the democratically elected president and its government.

The Sheikh of Al Azhar also leads an important organisation, the Supreme Council of Scholars, whose top management has also been dominated by pro-regime personalities.

A lot of its leadership are respected scholars. But a number of them are also extremely closely associated with the military autocracy of Egypt. The obvious person is the Sheikh of Al Azhar [its rector]. But you also have people like Ali Gomaa, the former Grand Mufti of Egypt, al Azami said.

These sorts of people have very often been supportive of the Sisi regime, broadly speaking. Gomaa in particular supported its massacre of hundreds of unarmed pro-democracy protesters in 2013," al Azami said.

"I think such behaviour has done much damage to the reputation of Al Azhar today, Azami concluded.

Source: TRT World

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Sisi's era seen as 'one of the worst ages' for famed Al Azhar - TRT World

A father’s letter to his kid: The 9 money and life lessons most people learn too late in life – CNBC

1. Don't underestimate the role of chance in life.

It's easy to assume that wealth and poverty are caused by the choices we make, but it's even easier to underestimate the role of chance in life.

The families, values, countries and generations we're born into, as well as the people we happen to meet along the way, all play a bigger role in our outcomes than most people want to admit.

While you should believe in the values and rewards of hard work, it's also important to understand that not all success is a result of hard work, and that not all poverty is due to laziness. Keep this in mind when forming opinions about others, including yourself.

Being able to do what you want, when you want, where you want, with who you want and for as long as you want provides a lasting level of happiness that no amount of "fancy stuff" can ever offer.

The thrill of having fancy stuff wears off quickly.But a job with flexible hours and a short commute will never get old. Having enough savings to give you time and options during an emergency will never get old. Being able to retire when you want to will never get old.

Achieving independence is our ultimate goal in life. But independence isn't an "all-or-nothing" every dollar you save is like owning a slice of your future that might otherwise be managed by someone else, based on their priorities.

No one can grasp the value of a dollar without experiencing its scarcity, so while your mother and I will always do our best to support you, we're not going to spoil you.

Learning that you can't have everything you want is the only way to understand needs versus desires.This in turn will teach you about budgeting, saving, and valuing what you already have.

Knowing how to be frugal without it hurting you is an essential life skill that will come in handy during life's inevitable ups and downs.

Napoleon's definition of a genius is the person "who can do the average thing when everyone else around him is losing his mind."

Managing money is the same. You don't have to do amazing things to end up in a good place over time, you just have to consistently not screw up for long periods of time.

Avoiding catastrophic mistakes (the biggest of which is burying yourself in debt) is more powerful than any fancy financial tip.

The ability to live with less is one of the most powerful financial levers, because you'll have more control over it than things like your income or investment returns.

The person who makes $50,000 per year, but only needs $40,000 to be happy, is richer than the person who makes $150,000, but needs $151,000 to be happy. The investor who earns a 5% return, but has low expenses, may be better off than the investor who earns 7% a year, but needs every penny of it.

How much you make doesn't determine how much you have, and how much you have doesn't determine how much you need.

Almost no one has their life figured out by age 18, so it's not the end of the world if you pick a major that you end up not enjoying. Or get a degree in a field that you're not 100% passionate about. Or work in a career and later decide you want to do something else.

It's okay to admit that your values and goals have evolved. Forgiving yourself for changing your mind is a superpower, especially when you're young.

The price of a busy career is time away from friends and family. The price of long-term market returns is uncertainty and volatility. The price of spoiling kids is them living a sheltered life.

Everything worthwhile comes with a price, and most of those prices are hidden. They're sometimes worth paying for, but you should never ignore their true costs.

Once you accept this, you'll start to view things like time, relationships, autonomy and creativity as currencies that are just as valuable as cash.

Warren Buffett once said: True success in life is "when the number of people you want to have love you actually do love you."

And that love comes overwhelmingly from how you treat people, rather thanyour level of net worth. Money won't provide the thing that you (and almost everyone else) want most. No amount of money can compensate for a lack of character, honesty and genuine empathy towards others.

This is the most important financial advice I can give you.

All the lessons here, including this last one, are things that most people learn too late in life. But feel free to reject them.

Your world will be different from mine, just as mine is different from my parents. No one is exactly is the same, and no one has all the right answers.Never take anyone's advice without contextualizing it with your own values, goals and circumstances.

Your parents love you. We are so happy you're here. Please let us sleep.

Morgan Housel is a partner at The Collaborative Fund,behavioral finance expert and former columnist at The Wall Street Journal andThe Motley Fool. He is also a winner of The New York Times Sidney Award and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism.

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Do we need to work less to save the world? – DW (English)

Since the pandemic hit, how we work has changed. Some of us have had a double load, doing day jobs alongside full-time childcare. Others have found hours we once filled with urgent deadlines suddenly empty. And then there are those of us for whom going to work every day stacking shelves, emptying bins, caring for the sick became not just a job but an act of heroism, applauded by society from balconies and doorsteps.

Philipp Frey of the German Center for Emancipatory Technology Studies says there are lessons to be learned from all this, for the good of both people and planet. Last year, he authored a headline-grabbing studysuggesting that to prevent climate collapse, Europeans should go down to a nine-hour working week.

"There exists a strong positive correlation between carbon emissions and working hours," Frey said. "Most of us produce less carbon emissions on the weekends than on a normal workday."

This isn't only true of workers in carbon-heavy sectors like manufacturing and energy production. Emissions from commuting and running offices are also a factor. And how we work impacts how we consume.

How we work affects how we move around, how and what we consume

Research suggests longer working hours are linked to increased consumption, and that this effect isn't just to do with income. Workers with less free time are more likely to use private vehicles instead of public transport, buy energy-intensive, time-saving products, choose convenience foods over sourcing local produce, and in the words of one study, "favor conspicuous expenditure and non-sustainable lifestyles."

Shifting blame to consumers

"Everyone knows you have to consume less," Frey said. We know that the throughput of energy and resources inherent in Western lifestyles is unsustainable. But focusing on consumption puts the onus on individual choice instead of asking why we are producing so much stuff that is harmful to the planet in the first place.

"We don't have a debate on how we actually spend our work time because that would imply, rather than giving ethical, moral lectures to individuals on how to behave correctly, actually talking about how we organize our economy, and what are socially useful products," Frey said. If nothing else, coronavirus lockdown time has given us pause to consider what kinds of jobs actually fulfill society's essential needs. These are often in the public sector, low-paid, or in fact, aren't paid at all.

According to the UN, 41% of all the work done worldwide is unpaid: Caring for children and the elderly, domestic work and collecting water, for example. Amaia Perez Orozco, an economist with the feminist XXK Collective in Bilbao, says this figure doesn't include activities like subsistence farming that would bring the share of work happening outside the market economy to more like 50%.

Much work that is essential to society is poorly paid or not valued

These activities are essential to sustain society and keep the economy running but they don't generate profit and are largely left to women.

"We value jobs that are more profitable for capital accumulation more than we value jobs that are profitable for the sustainability of life," Orozco said, adding "so we have a completely distorted way about thinking about the value of jobs."

'Nutritious base' vs. 'junkie economy'

In a system gearing toward profit and growth, we reward work that turns resources into products and waste, and neglect the human and ecological "nutritious base," as Margarita Mediavilla, professor of systems engineering at the University of Valladolid in Spain, calls it.

"Collapse happens when the base weakens and the system tries to keep growing," Mediavilla said. "Our society has already entered a pattern of collapse and a pattern of over-exploitation." COVID-19, she adds, "increases even more our fragility, and shows the pattern of collapse even more clearly."

Mediavilla says traditional societies aimed to work only as much as necessary to meet the needs of the population and cared for the natural resources on which their livelihoods depended. In contrast, today's "junkie economy," hooked on cheap oil, cheap labor and cheap resources, "needs to produce more and more in order for people to have a decent living."

For some communities, the ecological cost of fueling this system is starkly manifest in their employment opportunities.

Brototi Roy, a political ecologist at the Autonomous University of Barcelona researching coal-sector conflicts in India, describes interviewing workers locked into an industry that has polluted the land and fisheries that once sustained them.

Can jobs and the environment be preserved simultaneously?

When we talk about slowing production or closing harmful industries for environmental reasons, these aims are always set against the imperative to preserve jobs. But Roy says little attention is paid to what workers actually want and we should be asking, "what kind of jobs are we still advocating for, and why are we not asking the people who are doing these jobs if we could provide an alternative?"

Universal basic income

For some low-waged workers in India, and various other communities around the world, one possible alternative has been trialed universal (or unconditional) basic income (UBI). The idea has seen a surge of interest since the pandemic, with Spain planning strings-free monthly payments for poorer citizens and Scottish First Minister Nicola Sturgeon saying UBI's "time has come."

Ecologically minded proponents of UBI say it would give workers greater power to reject jobs that are bad for their own wellbeing or that of the planet. It would also grant financial Independence to those who do vital unpaid labor and give more of us the opportunity to engage in activities like volunteering, community gardening and grassroots organizing of resources outside the market economy.

With more time to invest in each other and our environment, we might be less drawn to "compensatory consumption" buying stuff to make ourselves feel better, be it status symbols or treats to lift our spirits when we feel burned out and short on the human connection that provides more sustaining mental health benefits.

Optimal hours for human and planetary health

UBI is also put forward as a solution to people being put out of work by technological developments such as artificial intelligence, as seen in arecent videoby Greek economist Yanis Varoufakis, who proposes funding UBI through dividends from corporate profits rather than taxes on labor.

Can we change our consumer behavior?

In his 1930 essay Economic Possibilities for our Grandchildren, John Maynard Keynes predicted automation would mean we would only need to work a 15-hour week. Frey says Keynes and others of his time, "underestimated how much consumption might be extended." Now, we should be seriously questioning what all this consumption is for.

"What's our main focus?" Frey asks. "Is it to satisfy human needs using as little ecological resources as possible? Or is [the economy] organized in such a way that pushes maximum turnover and corporate profits?"

Frey says he was surprised by the optimal working hours based on emissions his calculations produced.Cutting ourworking hours so drastically might be good for the climate but he doesn't believe it would be economically sustainable.

Instead, he advocates a redistribution of the kind of work we do, alongside a managed reduction of the working week toward 20 or 24 hours a level studies suggest is also optimal for workers' healthand productivity.

And, he says, one sector of society had already taken the lead before the pandemic the Fridays for Future campaigners who cut their school week to four days to demand action on climate change: "What the pupils are doing is perfectly reasonable. In a way, they are really ahead of the game."

As the world grinds to a halt, the sudden shutdown of most industrial activities has dramatically reduced air pollution levels. Satellite images have even revealed a clear drop in global levels of nitrogen dioxide (NO2), a gas which is primarily emitted from car engines and commercial manufacturing plants and is responsible for poor air quality in many major cities.

Like NO2, carbon dioxide emissions (CO2) have also been slashed in the wake of the COVID-19 crisis. When economic activity stalls, so do CO2 emissions in fact, the last time this happened was during the 2008-2009 financial crisis. In China alone, emissions have fallen by around 25% when the country entered lockdown, according to Carbon Brief. But this change is likely to only be temporary.

As everyone retreats to their homes, some animals have been taking advantage of our absence. Reduced road traffic means little critters like hedgehogs emerging from hibernation are less likely to be hit by cars. Meanwhile, other species like ducks may be wondering where all the people have gone and will need to find other sources of food besides breadcrumbs in the park.

Conservationists hope the coronavirus outbreak will help curb global wildlife trade, which is responsible for pushing a number of species to the brink of extinction. COVID-19 likely originated in a Wuhan wet market, which sells live produce and is a hub for both legal and illegally trafficked wildlife. A crackdown on trading live wildlife may be one positive thing to come out of the crisis.

Shortly after Italy entered lockdown, images of crystal clear canals in Venice were shared around the world the pristine blue waters are a far cry from their usual muddy appearance. And with cruise ships docked for the time being, our oceans are also experiencing a drop in noise pollution, lowering the stress levels of marine creatures like whales and making for a much more peaceful migration.

But it's not all good news. One of the worst environmental side-effects of the coronavirus pandemic is the rapid increase in the use of disposable plastic from medical equipment like disposable gloves, to plastic packaging as more people opt for prepackaged foods. Even cafes that remain open no longer accept reusable cups from customers in a bid to stop the virus from spreading.

With the coronavirus dominating, the climate crisis has been pushed to the sidelines. But that doesn't make it any less urgent. Experts are warning that important decisions regarding the climate should not be delayed even with the UN climate conference postponed until 2021. While emissions have dropped since the pandemic began, we're unlikely to see widespread and long-term change as a result.

Author: Ineke Mules

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Do we need to work less to save the world? - DW (English)

Couple who paid off $200,000 in debt and are on track to ‘retire early’ focus on earning instead of savinghere’s why – CNBC

Entrepreneurs Julien and Kiersten Saunders are well on their way to achieving financial independence by growing their digital business, creatingmultiple revenue streams and putting the majority of theirdisposable income into low-cost index funds, where it can grow over time.

They're part of the FIRE (financial independence, retire early) movement, which embraces the concept of saving the majority of your income in your 20s or 30s so you can retire and have the freedom to do what you want to in your 30s and 40s.

For the Atlanta-based couple, financial independence means hitting a net worth of about $1.5 million. That's their "FIRE number," roughly equal to 25 times their annual spending, and the amount they would feel comfortable living off of for the rest of their lives without having to work.

The Saunders, who share their FIRE journey on their blog Rich & Regular, recently quit their marketing jobs (Julien in June 2018 and Kiersten in April 2020) to focus on building out their website and pursue a more entrepreneurial career.

They're on track to hit their savings goal within a couple of years. "Once we eclipse that number, we're not going to stop," Julien tells CNBC Make It. "Our goal is to continue to build wealth and to inspire black people to explore the financial independence movement as a way to achieve economic freedom."

Our goal is to continue to build wealth and to inspire as many black people to explore the financial independence movement as a way to achieve economic freedom.

Julien Saunders

co-founder of Rich & Regular

Julien, 39, and Kiersten, 35, believe that the key to building wealth is to focus on driving revenue more than cutting back on expenses.

"We tend to focus on earning because you can't save what you never had," says Kiersten. As creative entrepreneurs, they earn six figures from a variety of sources: they generate revenue from their blog, which they launched in 2017, by working with brands to tell creative stories about moneyand they recently signed a book deal.

The Saunders previously invested in two rental properties, and they sold them after the properties tripled in market value. They took their profits and invested some of it back into their business and some of it in low-cost index funds.

They haven't always been in control of their finances: When the 2008 economic crisis hit, Julien was a recent homeowner and underwater on his mortgage and Kiersten struggled with overspending. "Everything I spent my money on was meant to elicit a certain type of feedback from somebody, whether it was I wanted to hear that somebody liked my pants or liked my hair or enjoyed the restaurant that we went to," she says. "I could convince myself to spend money for any reason because I had attached it to something external versus something internal."

Between 2013 and 2018, they buckled down and paid off $200,000 in debt, including auto loans, student loans, credit card debt, tax debt and a mortgage. "We were counting coins at that point and throwing ourselves into work," says Julien, who tripled his salary over the 10 years he was working in marketing for a hospitality company.

The Saunders saved and invested more than half of their combined income by keeping their big expenses low: They chose to live in a smaller, less expensive home and drive their old cars instead of upgrading.

While paying down their debt, they launched their personal finance blog to share their story and offer advice on how to achieve economic freedom.

A key to building wealth is to change your thinking, says Kiersten.Don't think that your income is limited to your salary or an hourly rate set by your company: "Your salary is not an indication of what you're worth or what your time is worth. That's just what that company decided for that job and the irony of the system is, if you are a black person or a woman filling that job, you're still getting paid less than what it's worth. Open your mind to the possibility that your time and contribution is worth way more than whatever you're making at your job."

Your salary is not an indication of what you're worth or what your time is worth. That's just what that company decided for that job.

Kiersten Saunders

co-founder of Rich & Regular

Explore the number of ways in which you can earn income, especially if you're already at a disadvantage as a black American,says Julien: "For a lot of black middle or upper middle class, it's very common to be reliant on a single source of income. The challenge we have with that is, as black professionals, the data suggests that's just not a very trustworthyapproach to building wealth because we are not promoted as often as many of our white counterparts."

They also don't earn as much: Black Americans can expect to earn up to $1 million less than white Americans over their lifetime, according toa recent study by McKinsey & Co. That same study also found that in 2016 the median wealth of a white family was 10 times the median wealth of a black family.

Understanding the racial wealth gap is "something that inspired us to explore entrepreneurial routes to earning income," says Julien.

As for how to go about making more money and finding other income streams, it depends on your skills and interests. "There's no one business that I would recommend to everyone," says Julien. "But I will say we're particularly bullish on the growth of the internet. ... There are very low barriers to entry. Whether it's starting a blog or throwing up an e-store or being an affiliate for other companies that already have products and services, it is all there for the taking."

The FIRE movement is more than a path to early retirement for the couple. "We see it as a viable pathway for black people to achieve a degree of freedom that has eluded them in this country," they wrote in an Instagram post this week.

By sharing their story, the Saunders hope to show that the FIRE movement,which lacks diversity and traditionally has consisted of mostly white members, can be a viable option formarginalized people.

Participating in the FIRE movement is by no means a solution to the institutional racism that still persists, the couple emphasizes, but it's a pathway that has worked for them. "We have to think differently than some of our white counterparts," Julien tells CNBC Make It. "We can't assume that we will always make the same income for the foreseeable future because the data suggests that that's just not the case.

"That's one of the reasons why we're trying to promote this [FIRE] lifestyle. We think it's a truly powerful decision and helps people gain a degree of freedom that otherwise has not been afforded to our community."

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Couple who paid off $200,000 in debt and are on track to 'retire early' focus on earning instead of savinghere's why - CNBC

Money saving tips: Britons offer key tips to financial independence and retiring early – Express

They said: I recently switched from meal deals to homemade food. The cost of meal deals is about 720 per year, has loads of sugar, and the drinks are almost all teeth-rotting sugary soft drinks.

My homemade pasta salad, drink and snack is close to 500 per year, has more veg, and I get significantly more food for the same calories. Cost of setup is under 10 for five tupperwares and another couple of pounds for a flask.

Another saver revealed how direct debits could make a significant difference.

They wrote: Keep an eye on mid-contract price rises on broadband, phone and TV contracts.

You can push things in your favour by capitalising on the fact companies often give you a cash reward card upfront upon sign up.

If you cancel six months in due to a price rise, then your monthly cost will drop through the floor.

I just dropped my TV package and my monthly cost is now around 15 per month for 50MB broadband and phone. Small gains all add up.

And a final saver said how they selected to save their money had an impact on the funds they could put aside for their goal.

The person said: I have my committed saving - a fixed monthly amount that automatically goes into investments such as ISA and Vanguard.

Then I have my aspirational savings - an amount Id like to save but might be a stretch.

I move this additional money out of my current account and try not to touch, but it lives in a cash saving account with no penalty for withdrawing.

This way, I dont find myself overcommitting to savings, but it feels good when I dont touch that amount.

Financial independence and retiring early, or FIRE as it is commonly known, is a popular option among many Britons.

The goal is to aggressively save in order to finish work earlier with a significant pot of money from which to live.

Investopedia states that by saving up to 70 percent of annual income, Britons may be able to retire significantly earlier to live off small withdrawals.

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Money saving tips: Britons offer key tips to financial independence and retiring early - Express