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Daily Archives: December 26, 2020
How to use the Duty Roulette in Final Fantasy XIV – Gamepur
Posted: December 26, 2020 at 1:27 am
The Duty Roulette in Final Fantasy XIV ensures that most content remains relevant for years to come. Several of the games dungeons, trials, raids, and PvP encounters are each separated into their own category on the first page of the Duty Finder. You can then queue up for any specific category, or roulette, joining any duty among the ones available. Within each roulette, the specific duty you land is random. Youll earn additional rewards per day for each roulette, such as gil, Allagan tomestones, and company seals.
Expert: The highest-level story dungeons. This roulette offers the largest bonus of the weekly-capped Allagan tomestones. There arent many dungeons to choose from here, easily making things repetitive after a while.
Level [XX] Dungeons: Currently level 80 in Shadowbringers, this is traditionally where the other level-capped story dungeons are. Any dungeons with a lower item level requirement than the Expert batch, youll find them here.
Level [50/60/70] Dungeons: These contain all of the level-capped story dungeons at the lower tiers. During A Realm Reborn, these level 50 dungeons used to be Expert ones; during Heavensward, these level 60 dungeons were the Expert ones, and so on.
Leveling: All leveling dungeons available at your current level. This is a real dice throw, as you could land in Sastasha, the level 15 dungeon, at level 79 for example. But the roulette will give you additional rewards for any level discrepancies.
Trials: All non-extreme level difficulty 8-man trials, starting from level 50.
Main Scenario: This roulette only contains two level 50 dungeons, Castrum Meridianum and the Praetorium, as the final main scenario capstones from A Realm Reborns story. To facilitate new players, the cutscenes in these dungeons are unskippable. Veteran players can rush through the bosses, but they will have to sit through all cutscenes with everyone else. However, theres a hefty experience points bonus at the end for your patience.
Guildhests: This contains the rarely-used guildhest content aimed at beginners. Guildhests teach players the most basic aspects of combat. The rewards from this roulette sadly arent too impressive.
Alliance Raids: Youll find all 24-man alliance raids here, except for when a new one first releases. While we say all, it is frustratingly common to land in the level 50 alliance raids over and over. Getting certain level 70 raids is a toss-up between a nice, clean run or an agonizing wipefest. But the nice bonus reward of weekly-capped Allagan tomestones makes the risk worth it.
Normal Raids: This roulette has all of the non-savage 8-man raids, excluding the level 50 Coils of Bahamut series from A Realm Reborn. When a new raid tier releases, youll find these fights within right after you clear them.
Mentor: Theres also the Mentor roulette. For players who achieve the Mentor status, they have the option of queueing into this roulette to help others. It contains every fight in the game, including extreme-level primals from previous expansions, and excluding savage or ultimate-level raids. You could get absolutely anything, from a random low-level guildhest to one of the more punishing extreme primals. The Allagan tomestone rewards are pretty sad compared to other roulettes, but running this does count toward your achievement rewards for Mentor-exclusive titles and mounts.
Frontline: Finally, theres the Frontline PvP roulette. This cycles through the available Frontline matches, listed under the Information section of the duty description. Whichever one is listed there will be the one you get. This changes daily. Its a nice way to rack up extra Wolf Marks each day.
In addition to the extra Allagan tomestones, gil, and company seal rewards, theres the adventurer-in-need bonus. This bonus rewards players who queue up as the role in-need for the Duty Roulette, or whichever role the queues are short on. Youll gain an extra chunk of gil for doing this. Unlike the daily rewards themselves, you can keep running Duty Roulettes as adventurer-in-need as many times as you want.
Next to each Duty Roulette, youll see the blue, green, or red icons, denoting the adventurer-in-need as either the tank, healer, or DPS roles, respectively. Its pretty common for Alliance raids to have DPS in-need, since these always need 15 DPS total, with only three tanks and six healers in comparison. The other roulettes bounce around between tank and healer as the roles in-need. But sometimes youll see tank or healer for Alliance raids, or DPS for other roulettes.
Running your daily Duty Roulettes is a great way to passively make gil over time, especially as the adventurer-in-need. Its consistent, its reliable, and it only costs you time. Sure, youll have to repair your gear every so often, but thats the case with all battle content in the game. If youre not a fan of dealing with the market board for your gil, this is a great alternative.
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Playing the Big Six Casino Game – Wheel-Based Unique Gambling Games – BestUSCasinos.org
Posted: at 1:27 am
Gamblers have been fascinated with games that involve spinning wheels for centuries. Roulette provides the best example of this fact. Roman soldiers played roulette long before the game hit Parisian casinos in the late 1700s.
Wheels have also found their way into the slots world. The countless slot machines from the Wheel of Fortune franchise prove this point.
Big Six Wheel (or simply Big Six) is another result of the wheel-driven phenomenon in casinos. In fact, its gameplay model completely revolves around wheels. You can find out more about this unique casino game below.
Big Six, or Wheel of Fortune as its sometimes known, is a casino game thats mainly available in land-based casinos.
It revolves around a spinning wheel with numbered spaces. Each space represents a dollar amount or the game logo.
You and other players wager on which dollar amount you think the pointer will stop on. If the wheel stops on your selection, then you win a payout that corresponds with the odds and your bet size.
Youve probably seen the game show Wheel of Fortune before. If so, then youre familiar with the concept of a spinning wheel determining prizes.
Big Six takes off on this same concept. Again, it provides a large wheel thats marked with various dollar amounts.
There are 54 spaces in all on the wheel. These spaces commonly break down as follows:
Variations of Big Six Wheel exist throughout the gaming world. However, the setup shown above is common in United States gambling destinations that offer this game.
Also, you should note that the $1 amounts dont determine how much you need to bet. Instead, they merely represent how much you stand to win for every dollar wagered.
Big Six Wheel may look confusing at first glance. However, its actually a simple game once you understand the basic steps to playing it.
Big Six works like a table game in that you must buy in by exchanging cash for chips. However, its a little different than baccarat or blackjack, for example, with regard to chip denominations.
Big Six Wheel isnt meant to be extremely expensive. Instead, it allows you to play for just $1 per round.
The only problem is that casinos dont normally offer $1 chips. Therefore, youll get either metal $1 tokens or traditional $5 chips. You can buy into the game with a $10 or $20 bill to get started.
You need to place your chips on one or more of the available spaces. Each space is indicated by dollar amounts, including $1, $2, $5, $10, and $20. The only exception to the norm is the casino logo.
You may, for example, decide to put a $1 token on the $5 space. In this scenario, you stand to win a $5 payout if successful.
Again, Big Six allows you to place multiple bets within the same round. For instance, you might put a dollar token on the $2, $5, and $20 spaces.
After you and other players finish betting, the dealer will spin the wheel. You need the pointer to land on your chosen bet to win.
If you wager on the $20 space, for example, then youll need the pointer to rest on one of the $20 spaces. In the event of a win, the dealer will give you $20 in chips/winnings before the next round takes place.
Land-based casinos are the most-likely candidates to host Big Six. Casinos in a variety of gambling destinations host this popular game.
You can find Big Six Wheel by visiting:
You may have luck finding this game elsewhere, too. However, the locations mentioned above are sure to offer Big Six in one or more casinos.
Ive mentioned Big Six as a land-based game so far because thats primarily where its located. However, you can find this game at some real money online casinos too.
Gamesys features a Big Six variation thats a little different from the common American version covered earlier. Its game has the following dollar/bet spots and payouts:
Outside of Gamesys software, Big Six Wheel is quite rare in traditional online casinos. However, its a little more prevalent in live dealer casinos.
The only difference when playing online is that live dealer sites dont call Big Six by its common name. Instead, they label it as Dream Catcher, Money Wheel, Wheel of Fortune, or something else.
As you can see, Big Six Wheel is available through different online forms. But youll need to do some digging before finding it.
This game isnt easy on your bankroll. In fact, some versions can feature up to a $24 house advantage on certain bets.
Nevertheless, you can work the Big Six house edge down to a more reasonable figure. Here are some tips that you can use to make this happen.
Each betting space can offer a different house advantage than the next. The varying casino house edges are due to the trade-off between each spot paying more/less and featuring more/fewer spaces.
For example, the $1 bet covers the most spots on the wheel. However, it also pays the least at 1:1 on your wager.
Looking back at the North American wheel discussed earlier, each spots house advantage is as follows:
The logo and $20 spots are attractive due to their larger payouts. But they also feature the highest house edges on the board. Meanwhile, the $1 spot has a house advantage thats 50% lower than the $20 and logo spaces.
The varying house edges dont just stop at the different bets. They can also differ when moving from casino to casino.
Compare the North American wheels house advantages with those found on the Macau wheel:
The Macau version gives you a better long-term chance to win. The Orange, Purple, and Green bets are especially favorable.
However, no Big Six variation offers as good of odds as the one from Gamesys. The latter features the following house advantages:
Depending upon how youre betting, you might experience extreme volatility with Big Six Wheel. The $1 bet usually pays out between 42% and 45% of the time. This payout frequency is akin to low-volatility games like baccarat and blackjack.
However, many other bets arent so generous in the short run. The $20 wager, for example, usually only hits 3.70% of the time.
If youre betting on anything from $2 to the logo, then you need to consider the volatility. You wont win as often when chasing the bigger prizes.
Continuing off the point above, you should make sure to have the appropriate casino bankroll for whatever bets youre making.
Chasing larger payouts requires a bigger bankroll if you want to last. Meanwhile, you dont need as much to play when wagering on $1 and $2 spots
Here are some variables to set up an example of Big Six bankroll management:
As can be seen, you can develop a reasonable idea on how long your bankroll will last with some simple math.
Big Six is a unique gambling game that looks complicated from a distance. However, its rather easy and only requires a basic understanding of casino gambling.
You can quickly get started by sitting down to a table and buying in. Afterward, you just need to place your chips/tokens on the correct space. The dealer handles the rest from here.
Assuming you play online or live dealer Big Six, then youll have even less to worry about. The software acts as a guiding hand while you place wagers.
In summary, Big Six Wheel is an exciting and cheap game to play. You should definitely consider it if youre a low-stakes gambler who enjoys basic games with large payouts.
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Gambling addict threatened to burn down Bournemouth casino – Bournemouth Echo
Posted: at 1:27 am
A MAN who doused petrol over a roulette table at a Bournemouth casino as he threatened to burn down the venue has been banned from gambling premises for 10 years.
Amir Abol Abolghassem filled a five-litre water container with petrol.
He secreted it into a bag and took it into Genting Casino in Yelverton Road on September 28 by saying it was a birthday present for a member of staff.
Bournemouth Crown Court heard the 59-year-old, who was a familiar face at the venue, made his way up to the balcony area and threw a coffee table to the lower level and began shouting.
The gambling addict told people they should leave the town centre establishment before pouring the fuel and shouting he would burn it down.
Prosecuting, Tom Evans said the defendant, who had racked up 400,000 in losses, was warned by the manger that people were in the building.
The defendant told him you have got five minutes to get everyone out, said Mr Evans.
Police attended and PC (William) Martindale conducted a negotiation with the defendant who was seen to be holding a cigarette lighter in one hand. He was plainly in a distressed state.
Mr Evans said Abolghassem, of Charminster Road, Bournemouth, stated his life was done and places like this (casinos) needed to be burned down. After around 17 minutes of negotiations he finally relented and put the lighter down.
The defendant then pulled a Stanley knife from his pocket which he held to his neck, said Mr Evans. Within a couple of minutes PC Martindale calmed him down and arrested him.
Mr Evans said the defendant immediately apologised, stating Im sorry, Im so sorry. He made full and frank admissions in police interview.
Abolghassem admitted charges of possession of a knife and threatening to damage property.
Mitigating, Victoria Hill said: It is the defendants gambling addiction, the death of his mother and sister, his health problems, his loss of employment and the effect of lockdown that led to the very desperate state that he was in on the day that he committed the offences.
It would appear that these offences were carried out with a misguided attempt to show others that that particular casino was not a good place to visit.
He didnt want others to end up in the sorry state that he was.
Recorder Oba Nsugbe QC said: It was quite an extreme way in which to send a message of deterrence.
Ms Hill replied that Abolghassem, who had been a head chef at Kayla Brasserie until August of this year, recognised what he did was wrong. The barrister said the defendant had a long-standing problem with gambling and two weeks prior to the casino incident he had been in hospital with heart problems.
In sentencing the defendant at a hearing on December 18, the judge said: What I have heard about you, even in the midst of these serious offences, are acts of kindness.
Recorder Nsugbe added: Make no mistake that this was a serious offence with the potential for serious damage to that property.
The judge said the offences crossed the custody threshold but handed Abolghassem a sentence of 20 months imprisonment, suspended for two years, having taken into account his guilty plea, personal mitigation and prospect for rehabilitation.
He issued a restraining order banning the defendant from all gambling premises in the UK for 10 years.
n For gambling addiction support and advice, call GamCare on freephone 0808 8020 133 or visit gamcare.org.uk.
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Types of Biases That Casino Gamblers Have – Psychology and Gambling – BestUSCasinos.org
Posted: at 1:27 am
At some level, bias is an unavoidable reality of life. Human beings have developed these feelings, at their core, with survival in mind. Unfortunately, some biases are no longer necessary in the modern world and actually work against our best interests at times.
Of all the arenas in the world to witness a range of biases on full display, the casino is at the top of the list. The good news? If you recognize them, you have a real chance to avoid becoming a victim of your own biases.
In this article, Ill lay out the top biases observed in real money casinos everywhere.
Okay, this one might not be a bias per se, but it certainly falls into the category of a common misconception. In an article for a gambling site, it simply cant be ignored.
The Gamblers Fallacy, a term first used in 1971 but Amos Tversky and Daniel Kahneman, is classified as an example of the representativeness heuristic. If that doesnt quite ring a bell, Ill break it down in a way thats much easier to understand.
The Gamblers Fallacy is the incorrect belief that a prior event has an impact on a future event. Heres an example that can be observed, without fail, in just about every casino in the world on a daily basis:
When looking at roulette, it can reasonably be assumed that theres an equal chance the ball lands on red or black. Over the course of a million spins, its likely that the ball will not favor either side. The operative phrase here being, over the course of a million spins.
A player who is committing the Gamblers Fallacy incorrectly thinks that this 50-50 red and black split is going to be statistically reliable with a smaller sample size. They believe that if the last five spins have ended on red, the probability that the next spin will be black is increased significantly. This is a mistake.
Regardless of the result of the last spin, the next spin will always have the exact same probability. Ill go through one more example often used to describe the Gamblers Fallacy, although its not in reference to a game youll find at any gaming establishment.
If you flip a coin, the chance it will land heads or tails is exactly 50% for each. If you flip a coin that ends up on heads nine times in a row, on the 10th toss it still has an exactly 50% chance of being heads or tails.
At the end of the day, this knowledge isnt going to help you accurately predict outcomes, but it should save you from incorrectly thinking one outcome is more likely than the other.
This form of cognitive bias also wont help you identify future events, but it should help you make more sober decisions when gambling.
Outcome bias refers to the idea that when you incorrectly predict the future, you made the wrong decision. Heres a common example used to explain this phenomenon when playing blackjack:
If youre sitting at the table holding 18 and the dealer has 16, you should always stay. Asking for another card would obviously be taking a major risk. With that being said, its not out of the realm of possibility for the dealer to draw a 4, meaning they take the win with 20. A player committing the foul of outcome bias would say to him or herself, I made the wrong decision. At worst, they would hit on 18 the next time because they dont want to suffer the same type of loss again.
The bottom line is that, in casino gambling much more than sports gambling, there is almost always a stastically-correct play. Making the correct play doesnt guarantee a win, but it does guarantee youre putting yourself in the best position to win.
Its crucial for gamblers to recognize that you can make the right play and still end up losing. The good news? Sometimes the house gets the short end of the stick, too.
This is something that people struggle with in nearly every facet of life from the blackjack table to the voting booth, the stock market, and beyond.
Confirmation bias is what is present when people seek out information that backs up their initial preconceived notions while ignoring and evidence to the contrary.
Heres an example:
A belief exists that there is a possibility that other players at the blackjack table can have an impact on the tables performance as a whole. Meaning if they make wrong decisions, everyone feels it. If an inexperienced player does something that you immediately recognize as a bad move and then the dealer wins as a result of this move the whole table groans saying, I knew it he messed it up for us.
The reality is that even if someone makes an inadvisable play, theyre not to blame for the end result. They could have just as easily caused you to receive a favorable card as a result of their inexperience, and then the narrative would be shifted entirely.
Its imperative that all players evaluate both their past and future plays with some semblance of objectivity.
Its probably not news for me to point out that the events that happened most recently often stick out as more prominent information to use when making a decision. The unfortunate thing about this form of bias, its that its even more subconscious than the others. Meaning its harder to recognize and harder to overcome.
This one can be seen in both simple and complex decision-making processes, but for an example, Ill stick to something that is relatively easy to understand.
If youre at the roulette table, and the last three out of four spins have resulted in an even number, you might incorrectly think that an even number is more likely to come up next. The reality is that just because something has been happening, doesnt mean it will continue to happen.
Recency bias is also one of the common sports betting mistakes. If sports are your preferred method of gambling, it would be highly beneficial for you to read up on all the many ways it impacts decision making in relation to predicting games.
We hear the saying all the time: Look on the bright side! I have to admit, this feels like good information that can only help people lead happier lives by making the most of a potentially bad situation.
I hate to rain on the parade of anyone who considers positive thinking a good thing, but when it comes to risking your hard-earned money betting on casino games, it can become a dangerous mindset.
Nobody puts in a bet and thinks that theyre going to be wrong. It doesnt matter if its on a roulette wheel or a football game any time you make a decision, youre going to believe, at least initially, that it was the correct one.
Where optimism bias becomes a real problem is when you start to believe in yourself a little too much. As a side note, Id like to add that optimism bias is often increased after consuming a cocktail or two.
Often times, winning, while normally a good thing, can be the source of optimism bias. After getting lucky a few times you might start to think its just my day I can start taking more risks.
Heres an example: if youre at the roulette table and are having success, you might decide to start placing bets on individual numbers because youre just feeling it tonight. Another example would be hitting in blackjack when you have 17 showing, for the same reason of just feeling lucky.
Being a happy gambler isnt bad, but anything other than total objectivity when gambling is going to have a negative impact on you in the long run.
Nobody is immune to bias. Its an inherent trait that just has to be dealt with in most facets of life.
The good news is that if youre able to recognize your own biases when making a decision, you can reevaluate and make sure youre being objective. Keep this in mind next time you bet and your bankroll should be rewarded.
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7 "Best" Bitcoin Games to Win BTC (2020) – bitcoinlightning.com
Posted: at 1:27 am
Bitcoin, as well as other crypto-currencies have taken the world by storm. More and more industries are expanding their options in order to achieve global reach and the gambling industry is no exception. There are a lot of different variations of typical casino games that players can enjoy with Bitcoin. Not only are the games fun, but because of crypto-currencies they can be much more rewarding!
There are two types of Bitcoin online casinos:
Bitcoin-Exclusive casinos: These are the most favored casinos by the players because the deals are done entirely in Bitcoin. The top casinos that we recommend for this are:
Bitcoin-Fiat casinos: In these types of casinos, only the deposit is done in Bitcoin. Later on they are converted to a fiduciary currency. Most casinos that enable BTC wagering offer this option. Some good places to choose include:
There is a wide array of classic casino games you can play with Bitcoin. Here are some of them:
Blackjack Blackjack is a classic casino game available to play with Bitcoin. For new gamblers, this is the recommended game to start with just because of its simplicity. The rule is pretty basic you need to get closer to a sum of 21 in order to win. Some variations you can find are Pontoon, Double Exposure and Multihand Blackjack.
Slots Bitcoin slots have become really popular recently. They have evolved from basic 3 reel games to 5 reel ones including interactive video elements and huge bonuses as well. Depending on which sites you play, you can score a bonus of up to 100 free spins!
Roulette This is probably the most popular live casino game available. The concept is pretty easy to follow you need to guess which color or number the ball is going to fall on. There are multiple types of bets as well, so you can try to ensure your win.
Poker There is a huge variety of Poker games to choose from such as Jacks or Better, Multi-hand variations or Texas Holdem. For generations, this has been a favorite game to play, so naturally, it has a large online community.
Dice Bitcoin dice is very simple looking and the rules are pretty basic as well. You need to bet whether the roll of the dice would be higher or lower than your established point. The win is based on the probability of the bet or how good the bet actually is. The rounds are also very quick, which makes the game much more thrilling.
(e)Sports Betting Though it is not a traditional casino game, it has become largely popular with Bitcoin gamblers. Sportsbooks have become more open with Bitcoin bets, and thanks to this, your payouts can be quite hefty. Your best option for this is Cloud Bet.
If you are already used to online betting with traditional currencies, there are a couple of reasons why you should switch to crypto casinos. Here are some of them:
Universal Bitcoin is accepted almost everywhere you can be limited with your deposits based on your location. Because it is not centralized, casinos accept crypto-currencies globally.
Security You do not need to worry about someone stealing your personal information Bitcoin casino sites are completely unhackable. Whether you make deposits or withdrawals, you are protected thanks to the blockchain technology that Bitcoin casinos use.
Lower Deposits Traditional online casinos would require of you to deposit at least 30$ or more when you are using credit cards or other types of payment. This is not the case with Bitcoin casinos you can deposit as little as 4-5$!
Rapid Transactions Transactions on Bitcoin casinos happen extremely fast. Deposits take a few seconds, up to several minutes, whereas withdrawals take a couple of minutes. In comparison, traditional online casinos take up to two weeks to pay out the players.
Anonymity You do not need to provide any kind of personal information when using Bitcoin casinos. You only need an email address to register and you need to state your Bitcoin wallet address. Once you do that, you can start playing!
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Roulette Displays Market Size By Type, By Application, By Geography, By Top Companies And Forecast To 2027 – LionLowdown
Posted: at 1:27 am
New Jersey, United States: The most recently added report on Roulette Displays Market Insights, Forecast 2020 to 2027, Market Analysis report encourages clients to make strategic business decisions and understand the industry competitive advantage and key players strategies. of the market. The most recently added report on the Roulette Displays Market has qualified and verifiable market insights conducted in the current scenario.
The research report of the Roulette Displays market offers detailed information and overviews of the market for the forecast period 2020 to 2027. The major competitors in the Roulette Displays market and their competitive landscapes are analyzed as they are market leaders and are concerned in the front. The report also takes into account the critical points of the market and offers important solutions for the growth of the market. In addition, the report also examines the raw materials supply chain channels, sales channels, and production flows of the major market players.
Roulette Displays Market: Competitive Landscape
Competitive Analysis is one of the best sections of the report, comparing the progress of leading companies using key metrics like market share, new developments, global reach, local competition, pricing, and production. From the nature of the competition to future changes in the vendor landscape, the report offers an in-depth competitive analysis in the Roulette Displays market.
Major Key Players Operating in the Market:
Roulette Displays Market Segmentation
The report contains the market size with 2019 as the base year and an annual forecast up to 2027 in terms of sales (in million USD). For the forecast period mentioned above, estimates for all segments including type and application have been presented on a regional basis. We implemented a combination of top-down and bottom-up approaches to market size and analyzed key regional markets, dynamics and trends for different applications.
Roulette Displays Market Segment by Type:
Roulette Displays Market Segment by Application:
Roulette Displays Market Regional overview:
In the report, experts analyze and forecast the Roulette Displays market on a global as well as regional level. Taking into account all aspects of the market in terms of regions, the focus of the report is on North America, Europe, Asia Pacific, the Middle East and Africa, and South America. The prevailing trends and various opportunities in these regions are studied that can convince the growth of the market in the forecast period 2020 to 2027.
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Ladies, This is How You Get Your Personal Finance on Track – Yahoo India News
Posted: at 1:26 am
Growing up in an Indian household means leaving the nest late, sometimes not until after 30 years of age. Indian kids grow up with a greater sense of financial security than those in other countries as independence is not expected, and in some cases even held back, from them until the age of marriage. This results in poor understanding of financial management.
The problem is heightened for young Indian girls as our society is still crawling out of traditional roles of men and women. Financial management as an essential skill is considered irrelevant for women as most are still not expected to work.
Thankfully, the situation is taking a turn for the better as more and more women are breaking the glass ceiling in the professional sphere. Young women are now seeing financial independence as indispensable in the planning of their future.
However, the coddling of the Indian household is still prevalent and women need to learn to manage their freedom better.
Here are a few suggestions to get you started into the journey of managing your finances like an absolute professional.
Read and learn about finance
Some people are natural with numbers and organisation while the rest of us suffer but fret not. What you need is guidance from those who have already played the game. From books to videos on the internet, resources on personal finance are abundant. If research is not your cup of tea, you can always speak to other women, or men, in your circles. But dont ignore your ignorance as it can be hazardous to your financial future.
Also read: An Appeal To Women: Taste the Life of Financial Independence
Have a plan
Planned investment is the way forward, ladies. This has to be the first thing you need to tick off your list. They say the bigger the gap between saving and spending, the better it is, and rightly so. You dont have to create a sturdy five-year-plan, even though thats ideal. You should have a simple plan in place that lets you define your long-term and short-term goals and helps you create a balance between your wants and needs. This gives you a monetary cushion that comes in handy when youre short of finances.
Once you start seeing the saved numbers in the bank, youll only be motivated to save more. At that point, you can trust the inertia to keep you comfortable.
Its important to invest wisely
Investing your money is the best way to let it grow while its safely locked up. There are a number of schemes available where you dont even need a job to start your investment. For instance, PPF (public provident fund) gives you the option of investing an annual sum ranging anywhere between Rs 500 to Rs 1.5 lakhs, with an annual interest of 8%. This investment plan is not only risk-free but also helps you save on tax which makes it one of the most sought-after savings plan.
If youve just started working and are looking for a safe plan to go with, try SIPs. They are relatively safe and let you start with a small amount which you can then build on with the returns. To invest intelligently, we suggest you put in the time to read about the current schemes in the market before putting your money into any.
Keep in mind that safe investments are always a slow and steady process but reliable and worth it in the future when you get your returns.
Save for emergency situations
Cost of living is increasing with each passing day. Expenses are seemingly infinite while means are limited, so you never know when that rainy day could strike. It is, therefore, imperative that you have an emergency fund in place that you can turn to in times of need.
Most of us are comfortable with living paycheck to paycheck which is not the safest model to exercise. Follow the thumb rule of saving and stacking away your hard earned money for at least six months. Keep aside a portion of your salary for the contingency fund and let it stay there.
Here's something you could do: set a limit for yourself, say, 1 lakh. As and when you reach that limit, convert that money into a fixed deposit and lock it with the bank for at least a year. The earlier you start, the better. It may seem like a lot of work, but eventually, youll know what a great step it was for your financial security.
Women have been conditioned to turn to male members of the family to manage their money. While it is absolutely okay to ask for suggestions and help, dont outsource your responsibility entirely. Do your own taxes, manage your own money, and learn to stand on your own two feet. Try and be the role model that this world needs and pass on your knowledge to as many women as you can. That is the true essence of women empowerment.
(Edited by Varsha Roysam)
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Retirement savings on track? How to make sure you’re prepared for other goals, too – CNBC
Posted: at 1:26 am
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Start young. Look away from your 401(k) when the market freaks out. Don't sell.
A lot of the investment advice you hear probably has to do with saving for retirement. Yet many people need to use the market's returns to achieve other goals, too.
Often it also makes sense to invest for objectives like a down payment on a house, starting a business or sending a child to college, among other milestones that can arise long before you go gray or consider leaving work for good.
"Life is so much more than retirement," said certified financial planner Peter Creedon, CEO of Crystal Brook Advisors in Mount Sinai, New York.
It can be intimidating and confusing to juggle multiple goals with different timelines. CNBC spoke with financial advisors about how to best do so.
To understand how to prepare for multiple goals, start by ranking those ambitions from most to least important, said CFP Douglas Boneparth, founder and president of Bone Fide Wealth in New York. Your list will be subjective, he said. "Personal finance is personal."
Achieving financial independence being able to retire may not be No. 1 for you at the moment. Instead, you may decide that buying a house is your top focus.
That's OK, but you also want to know the consequences of prioritizing one goal over another, Boneparth said. Maybe buying that house, for example, means you'll need to work two more years down the line.
"You can solve these puzzles," Boneparth said.
Once you have your goals defined, how should you save for them?
Barry Korb, a CFP and president of Lighthouse Financial Planning in Potomac, Maryland, has a fairly simple way to determine if you should be using the stock market for a particular objective.
If the deadline for when you'll need the money is under five years, it's too risky to use equities, he said, adding that in such cases you're better off saving with cash or certificates of deposit.
So much comes down to timeline.
One of Korb's clients recently told him that their child, a senior in high school, had been admitted to an Ivy League school. They told Korb they had $240,000 in a 529 college savings plan all in equities. (529 accounts are named after a section of the tax code and allow people to invest for college while avoiding taxes.)
More from Advisor Insight:How financial advisors say to use your $600 stimulus checkHere's who's likely eligible for a second stimulus checkCovid relief bill adds PPP tax breaks the Treasury opposed
"I told them to immediately transfer 80% to 90% of the savings to cash equivalents," Korb said. "Certainly, they would rather risk, say, a 50% gain over the next few years as opposed to finding themselves with a 50% loss."
On the other hand, if the client's child was 1 year old, taking that same risk makes sense. In fact, saving with only cash would cost them.
If you begin investing at your child's birth for their college expenses, about a third of your goal could come from investment earnings alone, said Mark Kantrowitz, a financial aid expert.
You can enroll in an age-based 529 plan, which automatically becomes more conservative more tilted toward bonds and away from stocks as your child nears the end of high school.
Understanding your risk tolerance is particularly important when it comes to shorter-term goals because you have less time to ride out market downturns, experts say.
Still, a lot of the wisdom around retirement savings also applies to these goals. Mainly, you want your allocation to become less aggressive as you move closer to needing the cash.
For example, let's say you want to have your down payment on a house ready in seven years.
Boneparth said he'd typically recommend investing between 40% and 60% of that savings in stocks, and each year easing more out of equities. Avoid the temptation to get complacent with too large a stock concentration.
The last thing you'd want to happen, Boneparth said, is to be over-allocated toward stocks and experience a big correction right before you were hoping to close on a house.
Of course individual retirement accounts and 401(k) plans are where you salt away money for your old age. For college savings, most experts recommend using a 529 plan because of the tax benefits.
When it comes to other goals, like starting a business or coming up with a down payment, you should usually use a brokerage account, Boneparth said.
Although you can tap some retirement accounts for buying a house and other objectives, there comes a downside with doing so, he added: "You're interrupting the compounding going on there for a longer-term goal."
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My 84-year-old mother forgot to pay her taxes and has some questionable credit-card charges; should I be worried? – MarketWatch
Posted: at 1:26 am
Dear Ms. MoneyPeace,
My sister has expressed concerns about our 84-year-old mothers memory and her ability to make reasonable financial decisions. I think my mother is experiencing the normal aging process, my sister is overreacting, and a decision to take away my mothers financial independence will cause even more harm than a few careless or forgotten payments.
Since I live far away and only see my mother two or three times a year, I asked my sister for some examples. She said our mother had forgotten to make a quarterly estimated income-tax payment and had received a notice from the IRS, had some charges on her credit-card statement from what appeared to be charities that she couldnt explain, and couldnt recall that she had transferred money from an investment account to another sibling.
I speak with my mother every week, and while she might repeat a story from time to time, Im truly impressed with what she remembers. Am I underreacting?
Faraway Son
Dear Faraway Son:
You are asking the right question. Now you need to understand about memory loss and how finances are affected. If a doctors evaluation and diagnosis confirms dementia, there are four steps you can take with your sister and your mother to protect her financial well-being while keeping her independent.
We may think mind decline and dementia only happen in old age or with aging. However, stroke, traumatic brain injury, certain medicines and a host of illnesses, including COVID-19, contribute to memory loss at any age. Even dehydration does. Thats why only a medical professional can diagnosis your mothers condition.
Because your mother knows your name and lives independently does not mean she doesnt need help with her finances, even if a doctor does not see major issues. A recent study by Johns Hopkins medical researchers discovered dementia was associated with adverse financial events years before a clinical diagnosis. These financial events included missing payments resulting in lower credit scores up to seven years before diagnosis.
Normal aging does not include memory loss, or everyone over the age of 65 would exhibit this symptom.
Your mother may be experiencing mild cognitive impairment (MCI) that may be the beginning of something serious or it may not result in any progressive dementia. As for the great memory your mother does have, long-ago memories are stronger for those who may be losing with other cognitive skills. Equally, some elders just want to share their memories as they lose their peers.
Your sister may be noticing a range of small things that have leads her to believe your mother needs assistance. Studies have proven that in most dementia patients, social skills are the last to go. So your regular calls to your mom may not be picking up all the same signs your sister has seen.
Many people with memory loss are aware of changes but may not want to admit them. Others come up with coping skills. One woman I knew kept a list by her phone of each her childs name and their children. So when they called she could ask about them by name. If she did not have that list, she would have been lost. But her adult child on the other end of the phone would have no way of knowing that.
Another client suffered a major stroke. After she was back home, her husband was glad to have her back to normal and they continued shared financial responsibility, with her paying the bills. Yet one look at their checkbook revealed things were not normal. She had started giving to a charity monthly the amount she used to give annually. When I asked about the payment, she said they kept sending requests every month. I guess I forgot that I had given the previous month, she said.
What they were actually sending were thank-you notes, and she had misinterpreted them.
From then on, they paid the bills together, as they had the financial confidence together that individually they lacked.
Memory loss may include a loss of judgment or weakened reasoning. A few careless or forgotten payments seem minor; however, by someone long-detailed and exact in their financial matters, this may indeed be a warning sign.
Protecting your mothers assets is important for her long-term well-being. To this end, there are ways to build in some quality control checks while she maintains her independence. If a financial transition is needed, the steps will be in place. Your sister can implement them, but you can help with some of these from afar.
Start with these four steps:
Designate a trusted person: The Financial Industry Regulatory Authority requires financial institutions to provide a form for a trusted contact on investment accounts. However, the company is not responsible for requiring a client to send it back. Be sure that all your mothers investment companies and financial professionals are notified in writing of who to contact if your mothers money habits change significantly or she cannot be reached.
Install a team effort on cash flow: Your mother may be willing to share online access for her bank accounts for monitoring purposes only. In addition, your sister can share the bill-paying responsibilities by just sitting with your mother as the bills are paid. Couples of course can do this together.
Review and freeze credit reports: This is one important way to prevent your mother from taking out additional loans, credit cards or being scammed in some way. Please note: she will be in the loop as she has to sign the letters to the credit-reporting firms and can remove the freeze at any time. Request her credit report today.
Update legal documents: A financial power of attorney (POA) is essential to handle someone elses financial affairs. A POA needs to be updated every five years to stay relevant. So be sure all your mothers documents are in place. Finally, consider setting up a revocable trust to streamline her financial life. A trust will enable your sister or whoever is the trustee to set up accounts to pay the bills whenever the time comes. Talk to her lawyer to learn more.
Read: 3 reasons a trust may make sense for your family even though your name isnt Trump, Gates or Rockefeller
In addition, be aware of other risks that could lead elders or those with challenges to make poor financial decisions. Phone scammers prey on those at home who answer their phones. Fraudulent mailings that appear to be from non-profits solicit donations. Social media friends request money or instill fear. All these exposures and a brain that is not as quick or solid in decision-making put people at financial risk. Making a plan with your mother to not respond with financial information until she talks to you or your sister may help her stay out of trouble.
Work together with your sister now so that both of you understand what is going on with your mother medically and how it impacts her finances. Too many families do not discuss this possibility, and often one person is left holding the bag when a crisis strikes and is stuck picking up the pieces of poor financial decisions. This is costly and time consuming.
Be proactive, rather than overreacting or beinglaissez faire.
CD Moriarty, CFP, is a columnist for MarketWatch and a personal-finance speaker, writer and coach. She blogs atMoneyPeace. Email your questions to MsMoneyPeaceQuestions@MoneyPeace.com
Now read: Should I take a $1,913-a-month pension or a $445,000 lump sum?
Also: There is more to picking a place to retire than low taxes avoid these 5 expensive mistakes
And: This financial planners no-fail secret will have you effortlessly spending less
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The Highlights best reads of the year – Vox.com
Posted: at 1:26 am
The Highlight was young, not even a year old, when the coronavirus pandemic descended in the spring. If we had been padding along unsteadily, looking for footing like any ambitious toddler, our balance was entirely shaken by the seismic developments of 2020: the lockdowns and masks, the bizarrely mysterious and gravely dangerous virus, a summer of protests and the retaliatory federal response we felt in the rattling of our windows, a democracy and an election so fragile that some sounded alarms of an impending coup.
All these months later, looking over the body of work that writers from Vox and across the country produced for The Highlight amid the years fear and uncertainty, one thing is quite clear to me. The pandemic spawned an American existential crisis, a productivity slump, a small-business cataclysm. It provided the kindling for an incendiary and at times strikingly effective reckoning with American racism. But as difficult as 2020 was, each collective experience further distilled The Highlights mission, revealing new stories worth telling, new questions worth asking, and new narrative escapes worth exploring.
Some of the best pandemic coverage that The Highlight published already feels encased in amber, relics of a time when the nation stood at the precipice of catastrophe and nonetheless fell victim to its citizens instinct to preserve personal liberty above all. Other stories, like that of trans pastor Junia Joplin (who was fired after coming out) or the chronicles of young people of colors first experiences with police, will echo for years to come.
Below, find some of the best work The Highlight published this year. Because of the pandemic, and not despite it, 2020s most engrossing tales have a distinct richness. Theyre full of mystery, faith, ambition, truth-telling, and self-understanding precisely why they resonated with readers. I hope you enjoy them, too.
A mysterious outbreak. Hundreds of stricken schoolgirls. Was it an illness, or was something darker to blame?
By Daniel Hernandez
The church has not embraced those like Junia Joplin easily. She only wants to keep her job.
By Emily VanDerWerff
She wanted to ride with men in one of the worlds most dangerous sports. She had a lot more than her competition to be worried about.
By Steven Leckart
Financial Independence Retire Early, with its emphasis on extreme frugality, grew in popularity after the last financial crisis. But can the movement prepare its followers for the next one?
By Stephie Grob Plante
Turbulent reopenings and partisan mask wars highlighted the nations preoccupation with personal liberty above all.
By Eleanor Cummins
Can you remember your first experience with the police? For these nine Black and brown people, the encounters would shape their sense of safety forever.
By Kiana Moore
Small businesses were once pillars of communities, but economic and systemic forces left many fighting for survival. Then came the pandemic.
By Laura Entis
Amid the pandemic, workers whose jobs once defined their lives are questioning what it was all for.
By Sam Blum
Five people on finding the words and the strength to be themselves.
Interviews and photography by Annie Tritt
As the drug hits a cultural tipping point, states face an urgent call to expunge, or erase, minor pot convictions a move even the Biden-Harris campaign supported. This is one mans quest to clear his name.
By John Washington
Wanna hear something super bitchy? is a kind of love language.
By Alanna Okun and Aude White
Its time to ask why we continue to spend millions of taxpayer dollars on police misconduct lawsuits and billions more on policing that yields poor outcomes.
By Sean Collins
The long and public reckoning that followed the Holocaust shows a path forward for a United States that desperately needs to confront its racist past.
By Mattie Kahn
Lavanya Ramanathan is the editor of The Highlight.
Give the gift of understanding
In April, Vox launched a way for readers to support our work with financial contributions and we've been blown away by the response. This year, support from our founding contributors has helped us create projects that millions relied on to understand a year of chaos, and to keep their families safe. Support from our readers helps us rely less on advertising, and keep our resource-intensive work free for everyone who needs it. We want to add 2,020 more founding contributors to our supporter base by the end of the year. Help us reach our goal by making a contribution to Vox today, from as little as $3.
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