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Daily Archives: August 3, 2017
Man charged with human trafficking in Howard County – The … – Washington Post
Posted: August 3, 2017 at 11:42 pm
By Sharif Hassan By Sharif Hassan August 2
A Baltimore man was charged Wednesday with multiple counts of human trafficking after an investigation revealed he was forcing multiple women into prostitution in Howard County, police said.
Kamal Goodwyn, 43, also known as Kamal Dorchy of Charles Plaza in Baltimore, is being held in Howard County without bond in the trafficking after allegedly posting ads for the women on Backpage, police said.
Police began investigating the case July 23 after a woman called police from a motel in Laurel and told them she was a victim of human trafficking by a man and that she was tired of working for him, according to charging documents filed in the case.
Goodwyn was arrested after the police located him when he rented a motel room in Prince Georges County, police said. Three more women were discovered in the room, all believed to be trafficking victims and between the ages of 17 and 24, according to police.
Police charge that he coordinated and arranged appointments at motels for the women and forced them to perform sex acts for money. He found women by running ads offering jobs in massage work or prostitution, police said, and took half of the money they earned through performing sex acts and also controlled their access to cellphones, food and sleep.
Police said Goodwyn also physically assaulted the women, threatened them with a handgun and supplied them with drugs. He recently beat one woman who tried to hide money from him and threw her from a car onto a road, according to the charging documents that also said one of the women told police he hits you like a man.
The public defender assigned to Goodwyn could not immediately be reached for comment Wednesday.
All four women were taken to a safe location, police said.
Goodwyn faces a preliminary hearing set for Aug. 30 in Howard County, according to Wayne Kirwan, Director of Community Justice and Public Information Howard County State's Attorney's Office.
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Scientists discover method to rejuvenate aging human cells – National Post
Posted: at 11:42 pm
John Cooke wants it to be clear that he and his fellow researchers at the Houston Methodist Research Institute have not discovered the fountain of youth.
Im not Ponce de Leon, Cooke said in an interview on Tuesday, referring to the 16th century Spanish explorer who, legend has it, was seeking a water source capable of reversing aging.
But in a research letter just published in the Journal of the American College of Cardiology, Cooke and his colleagues report they have developed technology in their laboratory that rejuvenates human cells, raising the possibility of treatment for an array of age-related diseases.
Working with cells from children suffering from progeria, an extremely rare genetic disorder marked by rapid aging, the scientists from the Houston Methodist Research Institute discovered a dramatic effect on the lifespan and function of the cells.
We can at least stall or slow down accelerated aging, and thats what were working toward, Cooke, department chair of cardiovascular sciences at Houston Methodist, said in a news release. Our next steps are to start moving this therapy toward clinical use. We plan to do so by improving existing cell therapies. I want to develop a therapy for these children.
The new research focused on telomeres, which are found at the end of chromosomes. Cooke likened a telomere to the tip of a shoelace, holding the chromosome together. They have also been compared to the fuse on a bomb, because they get shorter every time a cell divides. Eventually the cell can no longer divide and it dies.
Such shortening is typically associated with aging, and 12 of the 17 progeria patients studied the oldest of whom was 14 had shortened telomere, similar to what would be found in a healthy 69-year-old. The average person with progeria lives just 13 years, with heart attack and stroke a common cause of death.
The technology used by the researchers involved prompting cells to produce a protein, telomerase, which can lengthen the telomere. This was done by delivering RNA to the cells that encode telomerase.
When we lengthen telomeres, we can reverse a lot of the problems associated with aging, Cooke said in a video accompanying the publication.
We were not expecting to see such a dramatic effect on the ability of the cells to proliferate. They could function and divide more normally, and we gave them extra lifespan, as well as better function, Cooke said.
The challenge now is finding a way to deliver the RNA into a human body as opposed to cells in a petri dish. RNA is fragile and breaks down quickly in the bloodstream, so Cooke said they are studying the use of nanoparticles to deliver the treatment.
Animal studies will first have to be conducted to ensure safety before any testing on humans, but he is optimistic clinical treatment could be available within a few years.
In his medical practice, Cooke sees a lot of patients suffering from heart and vascular diseases caused by aging. He is hopeful the new findings will be as beneficial to them as they are to children undergoing rapidly accelerated aging.
About a third of the people in this country succumb to strokes and heart attacks, he said. If we can fix that, well fix a lot of diseases.
A study published in the journal Nature in 2010 found that triggering telomerase production reversed aging in mice. But other studies have shown an increased cancer risk as cells stimulated with telomerase are again able to replicate.
Telomerase has become popular among many people hoping to combat aging, with some companies marketing costly telomerase activators in pill or liquid form.
Cooke does not want his research lumped in with the over-the-counter treatments for which he has seen no evidence of their effectiveness.
Im a physician. Im skeptical, and any new therapies have to undergo the rigor of a randomized clinical trial and be shown to be safe and effective, he said.
National Post
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In The Future, Your Car Will Read Your Biology to Make Decisions for You – Futurism
Posted: at 11:42 pm
Next-Level Integration
As automakers like Tesla, Toyota, and Volvo focus on developing vehicles that can interact autonomously with their environments, Ari Teman is exploring ways the cars of the future could interact with you. The inventor, designer, and technologist told Futurism he sees biometrics, which is the ability for a vehicle, an environment, or a service to recognize who you are and how you are, as one of the biggest developments in transportation in recent years.
Though the tech may sound futuristic, biometrics are already a part of our everyday lives the fingerprint sensor you use to unlock your smartphone or the voice recognition software that lets you command your tech via speech are two fairly prevalent examples. While the use of biometrics in the automotive sector isnt as common, it is predicted to grow steadily over the next few years, and a report by Frost & Sullivans Intelligent Mobility Team predicts that a third of new cars will incorporate biometric sensors by 2025.
Teman is currently working with Deutsche Telekoms datacom division to take biometric technology to the next level. He envisions a future in which cars are able to do far more than simply transport passengers from point A to point B. This smart transportation experience will begin before you even enter the car, he predicts.
Your vehicle will recognize you as you approach, says Teman. Theres no driver whos going to look out the window and go, Oh, its Neil. Its going to be a camera, and its going to say, I have to pull up to Neil, whos standing on the sidewalk, and not Joe, whos standing 10 feet away from him.
As soon as a rider enters the vehicle, the cars biometric sensors will go to work. Once youre in the car, were reading your vitals, and were reading your neurological signs, asserts Teman. Everything from how a car operates to the route it chooses can be automatically adjusted based on this information to best suit the passenger.
The car may notice that every time it makes a turn, your heart rate rises, Teman explains. The vehicle could interpret this information as a sign that youre nervous and that it should make an adjustment. The car will think Maybe I should slow down or Maybe theres something in this neighborhood that is bothering this passenger, and it will consider taking a detour or different route next time, says Teman.
He thinks the biometric-equipped car of the future will even be able to make subtle environmental changes based on the biological data it collects: If the car sees youre tired, it can dim the lights. If it sees youre shivering, it can turn up the heat.
While the technology Teman is working on is still on the horizon, several companies have already demonstrated examples of how biometrics can be applied to the transportation sector to make driving safer and more comfortable today.
At the 2017 Consumer Electronics Showcase in Las Vegas, German automaker Continental debuted theirBiometric Access System. Drivers in cars with the system must provide fingerprint authentication to start the engine, helping prevent theft. Meanwhile, an interior camera uses facial recognition software to adjust the cars settings based on the driver, ensuring a more comfortable, personalized experience.
At the same event, electronics company Gentex revealed theirbiometric system. This iris-scanning technology can be incorporated into a vehicles rear-view mirror and is 99.9 percent accurate at confirming a drivers identity. If the person in the car isnt recognized, the system can text the cars owner or limit functionality. If the driver is recognized, everything from the seat to the radio can be adjusted automatically to suit their preferences.
Other companies are taking a focus on safety with their biometric innovations.
Two firms are currently developing car headrests with built-in electroencephalogram (EEG) sensors to tell if a driver is distracted or even falling asleep. If one of these systems notices a problem, it can trigger the cars steering wheel or seat to shake to return the drivers attention to the road.
Meanwhile, Olea Sensor Networks has created a device that attaches to the seat belt in a car to monitor the driver or passengers vital signs. In the case of an accident, it can even automatically notify first-responders, letting them know the passengers identities and conditions.
These innovations are just the beginning. The relationship between ourselves and our cars is poised to shift dramatically in the coming years, transitioning from one in which we dictate the transportation experience into one in which we are quite literally along for the ride.
This interview has been slightly edited for clarity and brevity.
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An Alliance Upholding the Paris Agreement Now Represents a Third of the US Population – Futurism
Posted: at 11:42 pm
In Brief U.S. President Donald Trump decided to back out of the Paris climate deal two months ago. This doesn't mean, however, that the nation has hung up the gloves in the global fight against climate change. A group of states is taking the lead. The Will to Fight
When a door closes, a window opens, says an old adage. Well, for a number of states and their effort to fight climate change, its not enough to open a window theyre keeping the door open. Almost immediately after U.S. President Donald Trump decided to withdraw the countrys commitment to the historic Paris Climate Agreement, the United States Climate Alliance was born.
First there were three California, New York, and Washington State. I dont believe fighting reality is a good strategy not for America, not for anybody, California governor Edmund G. Brown, Jr. previously said in a statement. If the President is going to be AWOL in this profoundly important human endeavor, then California and other states will step up.
Now, the alliance boasts a membership of 13 states and Puerto Rico representing a bi-partisan coalition committed to the goal of reducing greenhouse gas emissions [26-28 percent from 2005 levels] consistent with the goals of the Paris Agreement. Latest to join the group is Colorado, after governor John Hickenlooper passed an executive order to cut the states greenhouse gas emissions before 2025.
So far, the U.S. Climate Alliance represents more than 33 percent of the U.S. population. Thats roughly $7.16 trillion of the nations GDP. The 14 members also cover a total of 1.3 million clean energy jobs. This is a grassroots-based movement, Gov. Hickenlooper said in a statement, the Denver Post reported. That groundswell will build into a national movement.
Clearly, the alliance is not something that can be ignored or easily dismissed and theyve been showing it. Each of the governors of these states have firmed up efforts in their respective states to make sure they meet the goals set by the Paris accords.
Above all, what these states represent is hope for a cleaner future. At the very least, it means that the U.S. currently the second largest contributor to greenhouse gasses, according to the Union of Concerned Scientists isnt letting up on efforts to save our planet, despite the seeming absence of federal support.
As Washington state governor Jay Inslee said, Our collective efforts to act on climate will ensure we maintain the [United States] commitment to curb carbon pollution while advancing a clean energy economy that will bring good-paying jobs to Americas workers.
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An Asteroid Headed Our Way Is About to Test NASA’s Planetary Defense System – Futurism
Posted: at 11:42 pm
2012 TC4
Our Solar System is littered with chunks of space rocks that whizz around in different orbits and varying speeds and its no big deal until one of those rocks turns out to be on a nasty unexpected trajectory and smashes into Earth.
Itsactually a pretty unlikely apocalypse scenario, but even with one in 10,000 odds its a good idea to keep an eye out. Now NASA scientists are excited theyll finally get to test out some of their defence systems with an upcoming asteroid fly-by in October.
Dont run for the panic room just yet the inbound asteroid, called2012 TC4, is estimated to safely pass our planet at a distance of about 6,800 kilometres (4,200 miles). We dont have a more concrete number because the space rock has been out of telescope range since 2012.
At a width of roughly 10-30 metres (30-100 feet), TC4 is pretty small. So far astronomers have only caught a glimpse of it once when it hurtled past Earth back in 2012 at a distance much closer than our own Moon.
Back then they only had a window of seven days to make observations and calculate when this asteroid will show up next.
But based on that data, it looks like TC4 will zoom around again on October 12 this year, and researchers are making preparations to not only update their observations of this particular object, but also to test out some of their planetary defense strategies.
This time we are adding in another layer of effort, using this asteroid flyby to test the worldwide asteroid detection and tracking network, assessing our capability to work together in response to finding a potential real asteroid threat,says observation campaign lead Michael Kelleyfrom NASA.
This is the first time NASA researchers get to use an actual space rock for their planetary defense efforts, which involve astronomers from all over the world.
The Planetary Defense Coordination Office (PDCO) wasonly established last year, with the goal to survey the skies for any near-Earth objects that are big enough and close enough to pose a risk to us.
Just last October the offices new space monitoring systemsgave us a heads-up about an unexpected asteroid flyby, calculating its timing, risk, and potential flight paths.
But this time around researchers can actually plan to coordinate their activities.
This is a team effort that involves more than a dozen observatories, universities and labs across the globe so we can collectively learn the strengths and limitations of our near-Earth object observation capabilities,says Vishnu Reddy from the University of Arizonawho will coordinate this new exercise.
While we know for sure that TC4 is not going to smash into Earth, theres so little astronomers know about its orbit that its actually a great test subject for strategies that can improve our ability to track and predict near-Earth objects.
It will be incumbent upon the observatories to get a fix on the asteroid as it approaches, and work together to obtain follow-up observations than make more refined asteroid orbit determinations possible,explains Paul Chodasfrom NASAs Center for Near-Earth Object Studies.
Even though so far a space rock apocalypse is relatively unlikely, NASAs efforts to detect and catalogue as many asteroids as possible is commendable it only took one stray chunk of space debris to wipe out the dinosaurs, after all.
Unfortunately, even with the coordinated efforts to find these space threats, for now theres not a lot we can actually do about them. Thats why some experts warn we really should build anintercepting spacecraft before we need it.
You dont have to lose any sleep over the October 12 flyby, but lets hope that by the time PDCO has sharpened its skills and does find a real threat, we actually have some space bombto blow it up with. Or something.
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City Hall staffers see $2.8M in raises through fiscal year 2017 – NY … – New York Daily News
Posted: at 10:43 am
NEW YORK DAILY NEWS
Updated: Thursday, August 3, 2017, 9:41 AM
The mayor's poll numbers may be down, but salaries for his staff are going up, up, up.
Mayor de Blasio doled out $2.8 million in raises in fiscal year 2017, which ended June 30, a Daily News analysis found.
The News analyzed the salaries of 538 staffers who worked in the mayors office in both fiscal years 2016 and 2017 and found that 426 of them got raises. Of those, 40 staffers got pay hikes of 20% or more and 15 saw their pay increase by 30% or better.
The payroll data for fiscal 2016 and 2017 were obtained through a Freedom of Information Law request.
City urged to verify if mayor's legal bills are job-related costs
The biggest raise, measured as a percentage of the salary, went to Alexander Merchant whose salary shot up 81% from $67,000 in 2016 to $121,000 this year.
Merchants pay hike came in two parts a raise to $82,555 in December 2016 for a promotion within the mayors Office of Operations.
Next, he received a jump to $121,000 in May for a new position as an adviser with the first deputy mayors office, according to City Hall.
Mkada Beach, chief of staff at the Mayors Office of Special Projects and Events, saw her salary boosted by 38%, to $85,000 before being suspended without pay in June.
Mayor, governor rally against Republican health care bill
Beach was charged in connection with an auto insurance fraud ring busted by Attorney General Eric Schneiderman. She has since been let go, city officials said.
Avi Fink who has been linked to several questionable campaign donors saw his salary climb by 42% this year.
Fink, 31, was promoted to be the mayors deputy chief of staff in October. His salary jumped then and once again on March 1, landing at $175,000.
While not reflected in their titles as listed in the payroll documents, many of those earning raises of 30% or more Merchant, Beach and Fink included wound up in entirely new jobs, moving from one office to another, with new responsibilities, said de Blasio spokeswoman Freddi Goldstein.
De Blasio to taxpayers: Pay my $2.3M legal bill from ethics probe
I know its fun to beat on public servants, but these are people who received promotions or more senior jobs. When you get a new job, you get a new salary, whether you work in city government or a grocery store, Goldstein said.
The most common raise was for considerably less 3%, which was what 302 staffers gained. That is in line with the raises that went to city employees who are represented by District Council 37, Goldstein said.
While de Blasio clearly approves of his staffers, just 50% of city voters gave Hizzoner favorable marks in the latest survey of his approval rating, released by Quinnipiac University this week.
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Editorial: Kansas governor is a curious choice as America’s torchbearer for religious freedom – STLtoday.com
Posted: at 10:43 am
Kansas Gov. Sam Brownbacks nomination as U.S. ambassador-at-large for international religious freedom has observers wondering about President Donald Trumps priorities. When 27 senior State Department positions remain vacant and no ambassadors have been appointed to nations such as South Korea, Germany, France, Saudi Arabia and Venezuela, what makes filling a position promoting religious freedom such an urgent, core objective of U.S. foreign policy?
The main function of the State Department office that Brownback would head is to monitor religious persecution and discrimination worldwide, to recommend and implement policies and to issue an annual report. If this is a top concern of the Trump administration, theres been precious little mention of it.
Six months into Trumps presidency, five of the six deputy positions under Secretary of State Rex Tillerson have yet to be filled permanently, along with 22 of 24 assistant secretary positions. Meanwhile, an estimated 85 percent of key executive branch positions remain vacant in the administration.
Trump has tried to blame Democrats for stalling confirmations, which is true in a small number of cases. But a New York Times recent analysis of the vacancies shows that on average, Trumps nominees are taking only nine days longer to be confirmed than former President Barack Obamas.
Conservative religious leaders are pleased with Brownbacks nomination, which Trump announced the same day he surprised Pentagon leaders with his tweet banning transgender people from military service. Others arent so enthusiastic.
Brownback, 60, is a devout Catholic and staunch opponent of abortion and gay rights. While governor he signed a law allowing faith-based campus religious groups to restrict membership to like-minded citizens. The state of California restricted state-funded travel to Kansas afterward, citing that as a reason.
The Council on American-Islamic Relations is also concerned, citing a bill Brownback signed in 2012 to block use of Islamic law in Kansas courts and government agencies. He also has tried to block the federal government from resettling refugees from Syria or other countries in Kansas.
If he wins Senate approval, Brownback will be the nations fifth such ambassador-at-large, succeeding Rabbi David Saperstein, the first non-Christian to hold the post. Obama had left the position vacant for nearly half his time in office before nominating Saperstein in 2015.
U.S. advocacy for global religious freedom can help promote political and social stability and counter religious extremism. The nonprofit Religious Freedom Institute notes that expanding religious freedom can advance human rights and contribute to national security.
Those are worthy goals. Brownbacks conservative views do not disqualify him from championing such causes, but his track record doesnt bode well.
Perhaps the biggest beneficiaries would be the 2.9 million citizens of Kansas, where his controversial conservative fiscal policies wound up turning fellow Republicans against him. Brownback would step down as governor if approved.
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Evidence shows: Freedom works – Richmond County Daily Journal
Posted: at 10:43 am
I know many Democrats and progressives who continue to be frustrated by the conservative Republicans who have controlled the North Carolina General Assembly since 2010.
The Left has spent years stating and restating its standard narrative about our state: that North Carolina has historically grown faster and been more successful than other Southern states because it was more willing to spend tax dollars on higher education, infrastructure, and other government programs.
Having repeated this catechism faithfully and endlessly, and yet seen no significant change in the policy direction of the state, progressives either resort to conspiracy theories about dark-money interests dictating terms to their political lackeys or they resort to personal attacks on the intelligence of GOP lawmakers.
I chose my terms carefully. The Lefts narrative is a kind of quasi-religious orthodoxy. It is neither good history nor good social science. Since the end of World War II, North Carolinas economy has usually outgrown the nations, to be sure. But thats a regional phenomenon, not a Tar Heel phenomenon. In fact, the average annual growth rate since 1948 of per-person, after-tax income has been exactly the same for North Carolina, South Carolina, and the Southeast as a whole.
Im not arguing that government programs have no value. But to assert that North Carolina had the right amount of government expenditures and taxes before the Republicans took over in 2010, and now it has not enough government, is to make an ideological claim, not an empirical one.
Several years ago, I began keeping a list of all the studies I could find on the subject of state economic growth. My database contains many hundreds of papers, all published either in peer-reviewed academic journals or as chapters of peer-reviewed academic books.
The available research doesnt just examine public-policy variables such as government spending, taxes, and regulations. It also considers other potential explanations for differences in economic growth, including energy prices, private investment, geography, and educational attainment.
Overall, this emerging body of empirical evidence suggests that most governments are too large and do more than they should taxes and regulations are negatively associated with economic growth but that non-policy factors are usually more significant in explaining differences among states and localities.
In the new edition of the Journal of Regional Analysis and Policy, Southern Methodist Universitys Dean Stansel and Meg Patrick Tuszynski reported the results of their own review of the literature. They looked specifically at the 155 studies that have used the Fraser Institutes annual Economic Freedom of North America index in their empirical models. The index includes state-by-state measures of government size, taxes, and labor-market regulations.
In two-thirds of the studies, Stansel and Tuszynski found, economic freedom was associated with better economic performance among states. Of the three sub-indexes, the regulatory burden was the most important.
If you view this conclusion with suspicion, you are of course free to disbelieve it. But just understand that repeating your catechism a few more times isnt going to change anything. Fiscal conservatives have good reasons to believe what we believe. What are yours?
John Hood is chairman of the John Locke Foundation and appears on the talk show NC SPIN. You can follow him @JohnHoodNC.
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How to retire early with financial independence in 3 steps – NBC2 News
Posted: at 10:42 am
NEW YORK (CNNMoney) -- Millennials are the first generation to shun traditional retirement and seek financial freedom instead -- when income from savings is enough to cover expenses, and working becomes a choice, often long before the age of 65.
Becoming financially independent and retiring early, a process known as FIRE, can be achieved at any income level by saving a high percentage of your salary, or cutting your expenses -- or both. CNNMoney profiles people who've reached financial independence early and on their own terms.
On a recent Wednesday afternoon, 29-year-old J.P. Livingston sat at an outdoor cafe in New York's West Village, wrapped in a cozy sweater, sipping tea and talking about her current project: retirement.
Livingston says she quit the workforce last year with $2.25 million after working in finance for only 7 years.
Let the Baby Boomers have their "retirement," with its delayed gratification and uncertain benefits, say an increasing number of young people like Livingston. Instead, they are gaming their income, saving rates and investments to become financially independent and retire early -- a process known as FIRE.
While Americans commonly spend most of what they earn and fall short on traditional retirement savings, today's young people are the first generation to plan for financial freedom: 63% of affluent Millennials prefer financial freedom over retirement, while 37% are saving to leave the workforce altogether, according to a study from Merrill Edge.
Anyone can achieve financial independence simply by saving a lot. Most people who are able to quit the workforce at a very young age do it by saving at least half their income.
And Livingston sets the bar pretty high. She saved at least 70% of everything she made for 7 years. And she chose a career -- and a city -- that would help her do that by maximizing her income, despite the high cost of living.
She had a mission. What else would you call it, when you start planning your retirement as a teen?
"I've wanted to be financially independent and retire early for years," Livingston said, recalling wandering around bookstores as a tween and being drawn to books on early retirement.
Sure, she had a few things going for her -- more than most: She managed to graduate from Harvard University in three years with no debt and some savings. She also landed a very high-paying job in finance that came with a six-figure income that increased exponentially over time. And she had a plan that made it possible for her to reach financial independence before she and her husband started a family and expenses inevitably grew. (A new project for her retirement: having a baby. She recently learned she's pregnant.)
But her nest egg is self-made. Even though her husband still works, Livingston's own savings are enough to cover both their living expenses -- around $67,000 per year -- for the rest of their lives.
"I came from a family that grew up really poor," said Livingston, who now writes under that pen-name on her blog about retiring early, TheMoneyHabit.org. "My family constantly reminded me that it was important to focus on providing for yourself." She prefers to remain anonymous to protect her privacy in revealing sensitive financial information. (CNNMoney has independently confirmed her identity.)
Livingston's fast-track to financial freedom was strategic, with each stage building on the next. First, she focused on her income, then on building her savings, followed by investment growth. Now that she's reached retirement, she's focused on tax optimization.
Here's how she did it.
Super-charge your income
Instead of moving to an area with a low cost of living (an easy way to slash expenses), Livingston doubled down on New York City.
"You can find the best job opportunities here," Livingston said. "I couldn't have found my job in Omaha, Nebraska. Maybe in Chicago, but I'd be paid less. I was paid the most here."
She worked hard to continually boost her income, which came through salary, raises, bonuses and commissions. When she first started working she was earning six-figures right out of the gate. Her starting salary was $60,000, plus incentives, which could easily double her yearly pay. But it only went up from there. Over the years, she increased her salary significantly, earning promotions with raises upwards of 30% along the way. By the time she quit her job, her paycheck was in the mid-six-figures.
A major feather in her cap was not having any debt, especially student loans.
"I was very aware of how expensive Harvard was," said Livingston. "I decided I should just get out early." She paid for school through scholarships and her family's savings. Graduating early allowed her to avoid paying additional expenses and move directly into earning an income.
Even if you go to a less expensive school, she says, if you can get it together to graduate a year early, you can avoid taking a loan for that year or, if you have the savings, "you can park that $20,000 in the market and start earning."
Crank the savings rate sky-high
Livingston's hard-core formula to reach a 70%-plus savings rate: income minus expenses equals savings.
When friends called her to go out, she'd steer them toward the most affordable social engagements: "I'd love to see you! Can I join you for drinks after? Or are you free for brunch?"
In addition to offering her a high income, New York's higher density offered her ways to save. She was able to live car-free and found that higher earning people getting rid of great stuff led to super deals on Craigslist or curbside.
"We had a gorgeous, pristine storage bench my roommate found on the street with a 'free' sign on it," she said. "It was one of the nicest pieces of furniture in the whole apartment."
She also had a broad choice of living situations. She opted for a third-floor walk-up where she had a mattress on the floor and paid $1,100 a month, her first year out of college. After that she moved to a 325-square-foot fifth-floor walk-up where she still lives with her husband and dog.
While building up her savings she started out living on $25,000. Even as her salary grew, her spending only went up to $30,000 a year.
"Incremental improvements that you build into your routine will pay out not just once, but it will pay off multifold," says Livingston. Lowering your rent by adding another roommate, saying you'll only meet friends for brunch, coffee or drinks (as opposed to more expensive dinners), "that will keep paying off for you year after year."
Grow the money
But you're not going to get to $2.25 million just by skipping a few dinners. About 60% of Livingston's net worth came from savings, and about 40% came from investing, primarily in a combination of low-cost index funds, options and municipal bonds, depending on the market.
Her expertise in the financial industry certainly helped juice her investment returns.
Once your savings are substantial, she says, the tweaks you make to your investments will have much more impact than any changes to your spending or saving habits.
For example, if you earn $70,000 a year and have regularly saved a significant portion for a few years, you may have between $120,000 to $150,000 in savings. If you can get a 10% return on your investments, you'll add $12,000 to $15,000 to your savings.
Among the proponents of FIRE, who support each other on various spaces on-line, Livingston's accomplishment is called "Fat FIRE," which is like FIRE, but with much bigger monthly budgets, and therefore much larger nest eggs.
She and her husband now live on $67,000 a year, an annual budget others on the path to FIRE may balk at as very high.
"That buys us a lot of cushy luxuries which include maid service and sending laundry out," she said. "We skimp on a lot of things, but those actually end up being quite affordable in Manhattan because of the density, and are offset by the cheap rent we pay." Plus: they don't have a washing machine.
While her expenses are completely covered by her savings, her husband still works, but by choice.
These days Livingston is working on growing her money and helping others to do the same through her blog.
"The you that is intentional with your money and constantly looking for improvement will be that much wealthier than the one that isn't, whatever your starting circumstances may be."
By Anna Bahney
The CNN TM & 2017 Cable News Network, Inc., a Time Warner Company. All rights reserved.
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How to retire early with financial independence in 3 steps - NBC2 News
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