Monthly Archives: March 2021

Savings or pocket money should be redirected to a bank account to earn interest

Financial analysts have stressed the importance of attainingfinancial independence at a young age, especially for thoseyoungsters in their 20s who areprofessionals working inindustries. Financial independence is key to early retirement and theconcepts are inter-related to each other. If one does not achieve financial independence on time, then it is difficult to retire early. To provide a comprehensive guide on understanding financial independence for early retirement, Chartered Accountant (CA) Rachana Ranade, recently addressed a session inThrive 2021- an event organised by stocks and mutual fundsinvestments platformGroww.

According to CA Rachana, financial independence means that instead of us working for money, money should work for us. She explained that a movement known as 'FIRE' predominantly started in the US, which comprises of two basic concepts - financial independence and early retirement. FIRE is an abbreviation, in which 'F' stands for financial, 'I' stands for independence, 'R' stands for retire, and 'E' stands for early.(Also Read:Balancing Income And Expenses: How To Create A Monthly Budget And Stick To It)

There are two types of income, explains CA Rachana. One is active income and the other is passive income. Active income is what one earns through a job, by putting in actual efforts in work. Whereas, passive income is what one can earn by not putting in any physical effort. Passive income is mostly earned through investing in equity etc.

Financial independence is achieved when two major conditions are fulfilled. Firstly, if the passive income of an individual exceeds active income, then there is a possibility of achievingfinancial independence. Secondly, if an individual is not completely dependent on a full-time job, but has other sources of income that can earn revenue, then financial independence can be achieved. The FIRE movement of the US, which zeroes in on early retirement with financial independence,is based upon three major parameters.

How long will it take for youto achieve financial independence?

One can know at what age he/she will retire by following a three-step process, according to the FIRE method:

Step 1: Determine your savings percentageThis means that one must fix a certain amount of percentage of the income for savings. According to FIRE method, it should be around50 per cent to 70 per cent of total income.

Step 2: Calculate your target retirement amountFor knowing your retirement fund or retirement corpus, multiple your annual expenses with 25. If one needs to know the annual withdrawal amount after retirement, then multiple your retirement corpus amount with four per cent.

Step 3: How long will it take for you to achieve FIRE?For knowing at what age one will retire, visithttp://fireagecalc.com/. Input your data such as the amount of saving, amount of investment etc, and you will be able to find your retirement age.

According to CA Rachana, some of the major points to keep in mind in order to save more and attain financial independence are as follows:

Waiting for response to load...

See more here:

Financial Independence, Early Retirement: What To Do In Your 20s To Retire Before 40 - NDTV Profit

Most people strive to attain financial independence the moment when they are no longer concerned about how they will pay their bills, rent, or other basic amenities because they are already taken care of. Passive income, on the other hand, makes this dream a reality. Andreas Kffner, a German Entrepreneur, believes that passive income is the secret to true financial independence. Here, he talks about the major changes to the business industry due to COVID-19 and how the industry will change in the Post-COVID Era.

Local Supply Chains will become the backbone of the economy

With the pandemic, it has become obvious that centralized supply chains very nearly kill the whole system. Disruption in supply from centralized locations can be seen country-wide. Therefore, as a first step, supply chains will be set up much more locally than ever before to ensure a steady supply of products even in the worst of times.

Worldwide, governments will be forced to implement new regulations

There has been a clear difficulty in setting up laws in the rush of the pandemic. But now, since the situation has come a little under control, governments worldwide need to sit down and figure out new laws to implement to keep their supply chain untarnished. It implies rules and regulations regarding distribution in cities, truck queues, customs clearances, increased autonomous driving, smarter infrastructure, and other areas. Since air and ocean routes are more easily affected by disruptions, it is necessary to assist rail and road routes to meet the anticipated demands while ensuring that the existing infrastructure does not become overburdened.

Automation is the key to the future

Simply put, automated services cannot contract COVID-19. Or any other virus! The risk of exposure means that businesses and facilities will be looking for more non-exposure options. Automation will easily see a rise in the coming times.

New plans for businesses

The old way of doing business is probably dead. With less contact and more exposure, it seems that businesses will have to come up with new ways to display their products to consumers without risking or spreading infection. Stressful times force people to become creative about things. This pandemic has certainly forced people to become more creative and approachable. Therefore, it is plausible that entrepreneurs seek other plans like VR events, digital showrooms, etc. to display their business. This method even allows them to personalize their business according to consumer needs, says Kffner.

Essential Goods will see more focus against Non-Essential Goods

It is predicted that the retail industry will suffer the consequences of the pandemic for some years to come; it is also notable that there was a stark rise in sales for essential goods, compared to non-essential goods, the sales of which were so low that retail shops had to close. Although retailers are now taking stock of this scenario and acting accordingly, it is obvious that essential items will be the only mainstay for business for a while.

Online Sales are on the rise

Consumers consumption patterns are changing as a result of staying at home. Consumers are now wising up to the ease of online shopping for the first time, and their journey is shifting towards an online-only model. The benefits of online shopping during the pandemic are becoming even clearer. If they havent already done so, retailers should get ready to shift course by making their online stores as streamlined and user-friendly as possible. There are several methods to do this, which can be researched thoroughly and with ease to engage with users.

Physical spaces for retails become more casual

The pandemic saw a major drop in the efficiency and value of physical retail stores. Many major brands suffered tremendous losses and had to eventually shut down when the lockdown hit. The situation is not likely to become any better. There is a very good chance that physical retail stores are going to lose focus in the coming year with a majority of the consumers opting for online sales. Still, it is too early to declare the death of the concept of retail stores. Even if the retail store loses focus, it is still possible that it will become something of an experience, existing only to serve customers who prefer it, says Andreas Kffner.

Banking and transaction will turn digital

With everything going digital, it is not a surprise that banking is also turning digital. Traditional banks are strengthening their collaborations with financial technology (Fintech) services to bridge the gap between consumers and small businesses. Small businesses are likely to move towards Fintech services to obtain loans easily rather than struggle with traditional setups. Banks will therefore reach out for collaboration with Fintech services to help small business owners.

Go here to read the rest:

Andreas Kffner on How the Business Industry Will Undergo a Shift in the - The Jerusalem Post

By investing in knowledge and relationships you can create more value, which then allows you to ... [+] make more money.

There are so many budgeting tools and programs out there that all say the same thing: scrimp, save, sacrifice, defer and delay. Essentially, spend all your mental energy on what you can eliminate. But thats reductionist thinking rather than production thinking, and if theres one thing Ive learned in my life, its that you cant save yourself rich. Even if you end up with a good sum of money decades down the road, what good is money if you dont enjoy it. There is a different way, one where you can enjoy the process along the way.

I tried shrinking my way to wealth once. I read The Millionaire Next Door in college, so when my wife and I got married, I threw out the option of moving into her parents basement. What a great way to save money, right? Her response stopped me dead: Rent free and sex free too.

I allowed room in our budget for our own place, but my mind was consumed by what we spent and how we could reduce or eliminate those expenses. My wife and I got into arguments about the utilities being too high or if she bought resources for her classroom as a teacher. It was a miserable existence, one I wouldnt wish on anyone.

Dale Clarke, a contributor to my book Budgeting Sucks, knows what Im talking about. In 2005, Dale showed up at the first full day event we ever hosted because Id been working as his dads financial advisor. Dales dad bought him a ticket, and when he heard there was free food, he decided to attend (true story). Dale was a miserable miser who spent less than $5 on holiday and birthday presents for his kids, often going to Goodwill to do his shopping. It drove his wife crazy. She once told him, Youre obsessed with money. Its all you talk about.

Eight hours later, after going through our Curriculum for Wealth, Dales life was changed. He told me, Im going to become financially independent within a year. I told him that was a bold proclamation since most people achieve this goal in three to seven years if they really work at it.

But Dale was determined. He spent twenty hours a week investing in himself and growing a portfolio of real estate properties. He wanted to escape a job he hated: designing airplane engines, especially since he couldnt stand the smell of the burning gas and oil. Sure, the job had good benefits, but they didnt benefit Dale. He was 70 pounds overweight. He had a retirement plan, but at the rate he was going, retirement was decades down the road.

After 362 days, Dale was financially independent. He was able to quit his job and started doing something he enjoyed, working in finance. Over the next five years he was making 10 times more money because he expanded his means, and focused on value creation rather than budgeting.

Oh, and hes 70 pounds lighter.

Dale did three things that allowed him to become financially independent in a staggeringly short amount of time. Well get to those three actions in just a moment, but first, I cant skip over the transformation that kickstarted his journey. Before he could take the first step to becoming financially independent in one year, Dale had to completely change how he thought about money.

He discovered that wealth is something far beyond accumulation.

Heres why: accumulation has you believe that wealth is a function of how much money you can put away and how much risk you can take.

Heres the problem: this is a slow process that neglects cash flow and invites unnecessary risk. You have likely heard that high risk=high return. But risk equals a chance of loss and one of the reasons people do not achieve financial independence.

What Dale had been led to believe was actually a failed financial experiment, retirement planning. It doesnt work. We know that now, yet most of us stick to it because its all we know. We are told it is complicated or that we dont have time to worry about it, just hand your money over to the professionals. But Dale took a different route. When Dale saw the possibility before himto become financially independent and enjoy lifehe took it.

Dale not only is financially independent and just moved into his dream home, he is also living better. He took his wife on a dream trip to Hawaii. They also went to Europe multiple times a few years ago, where Dale played the violin because he used to be a professional violinist.

Dale never wouldve done this without first shifting his mindset. It was that shift that led to his financial shift, which was made possible through three distinct actions Dale took.

Dollars follow value, so the first thing Dale did was make himself more valuable. He studied up on real estate and invested in properties that could offer people value in the form of a home.

As income came in from those properties, Dale kept investing in himself and the business. He bought more properties, which allowed him to serve more people. He was able to upgrade his properties, which served his existing clients in a deeper, more meaningful way.

This is production based thinking. It was a radical departure for Dale, who had blisters on his fingers from squeezing every last penny. His sole focus used to be living within his means, but as he learned at our event, there are three ways to do that.

1- Budget and cut back.

2- Be more efficient so you can keep more of what you make.

3- Expand your means. Dale expanded his means.

By investing in knowledge and relationships you can create more value, which then allows you to make more money.

Automatically save, then deliberately invest. In other words, pay yourself first. The easiest way to do that is with an automated structure. Ive seen it countless times that those who dont automate usually fall victim to Parkinsons Law, which says as your income increases, your expenses will rise to meet or exceed that increase. Its why people buy a new house or a new car after getting a raise.

If you spend two dollars for every dollar you make, get your spending under control first, budgeting is the right step for you. The key is to set up a separate account and automatically sweep money into it each month. See if your payroll service will deposit one check into your checking account and a separate one into a savings account.

This can build up a peace of mind fund. With this fund, youll have staying power and wont be wiped out by one financial setback. You wont have to borrow on a credit card to pay for an unexpected health crisis or cash flow crunch.

Thats an important rule that Dale followed: he didnt borrow to consume. He borrowed to invest, but for his expenses, he used the cash on hand rather than credit.

To achieve something hed never done before, Dale had to find people who challenged him to think bigger and better. He needed cheerleaders and advocates who excited and inspired him, but also held him accountable.

Dale found friends who pushed him closer to his goal and did business with them. They were the rocket fuel that propelled him to economic independence in less than a year.

The key is progress over perfection.

Get started.

Not some day in the futurenow. You cant save yourself rich, and even if you do, theres a very small chance youre going to enjoy life along the way. Why not take the steps to gain financial independence while also loving every step of the journey? You can do it if you offer more value, create an automated system and spend more time with people who challenge you to be your best self.

So, the question isnt about what you have. Its about what youre going to do.

Read the original:

Do You Have What It Takes To Get Rich In One Year? - Forbes

I am often asked by my students, What is the single most important thing to focus on in managing my finances?

The first thing I tell them is its all important. All aspects of their finances are related to each other. I tell them that you cant separate your financial life from your personal life. Decisions made in one area can have an impact on another area. One of the keys to financial success lies in understanding the crossover impact a decision has into the other areas.

One area that most people seem to overlook is their credit rating. Credit touches all other aspects of your financial health. Excellent credit can go a long way toward making your financial dreams a reality. Poor credit can act as a lead weight around your neck and curtail your ability to achieve your financial goals and financial independence.

This statement is quickly followed with another question, If my credit is so important, how is my credit evaluated by others? Creditors follow what are called the five Cs of credit: character, capacity, capital, collateral and conditions.

Character has to do with your willingness to pay your bills on time. Your credit history is the key here. Late payments may be an indication that you are not as serious about your financial obligations as you should be. Most creditors wont report a late payment until it is more than 30 days late. Any late payments red flag lenders and could impede your ability to get the loan or increase the rate that you have to pay.

Capacity deals with your ability to pay the loan. Do you have the financial resources to pay the loan when it is due? Typically, this comes from your income. Lenders usually do not like to see your debt payments (home, car, credit cards and other loans) exceed roughly 36% of your gross monthly income (your income before anything like taxes is taken out). A debt payment ratio in excess of roughly 36% may be a sign that you wont have the resources to pay the loan on time even though you may have the desire.

Capital looks at what your assets (the things that you own) are and your net worth, the difference between what you own and what you owe. In looking at your assets the creditor is trying to see what if anything you could sell in order to satisfy the loan in a worst case scenario. Closely related to this, your net worth helps the creditor understand if over time you are moving in the right financial direction. A negative net worth is not necessarily a bad thing. It depends on the circumstances. A college graduate at age 22 who has a negative net worth of $35K from student loans is in much better shape than a 45-year-old with a small positive net worth.

Collateral is something that you own of value that is pledged to the lender that can be taken away by the lender and sold to satisfy the debt if you dont pay the loan. You can typically receive better loan terms when you provide collateral like the deed to your house or the title to your car.

Conditions take into account the big picture. What economic conditions, typically beyond your control, could affect your ability to repay the loan? Are you working in an industry that is currently downsizing? Did you leave your last job of 10 years to go to work for a dot com company? Do you move or change jobs frequently?

All of these factors are considered together when a creditor assesses the risk of your loan request. The weaker the five Cs are overall, the greater the risk. There is a direct relationship between risk and return. The higher the risk the more a lender is going to charge you to compensate for being exposed to that risk. Instead of getting that $25K car loan at 6%, you may have to pay 10%. On a five-year loan that would roughly cost you an extra $1,670 in interest expense. Placed in your retirement account for 30 years that extra $1,670 could grow to approximately $29,000. Now imagine paying a higher rate on all of your loans throughout your entire lifetime. People who take a casual attitude toward their finances dont realize that the cost of failing to maintain their five Cs is much higher than they ever could have imagined.

Mark C. Weitzelteaches in the Department of Finance in ECUs College of Business. Your Financial Health is provided by the department.

Read more:

You will get all A's if you know these C's - Greenville Daily Reflector

Florida-based esports organization Misfits Gaming Group has renewed its partnership with SoFi. SoFi will continue its presence in the esports space expanding its investment to help its members achieve financial independence. Financial details of the partnership were not released.

SoFi entered into the esports space in 2019 with the MGG partnership. According to SoFi, the company has witnessed a 56% increase in brand trust since partnering with MGG.

The partnership will see the Florida Mutineers don an in-game jersey patch during Call of Duty League broadcasts. This is considered top-tier inventory available from esports teams and provides visibility for sponsors.

SoFi becomes the presenting sponsor for the Florida Mutineers (Call of Duty) and the Florida Mayhem (Overwatch).The two will also collaborate on brand awareness and original content surrounding topics such as personal finance and financial literacy as well.

Content will be published across team channels and with MGG influencers.

View original post here:

Misfits Gaming and SoFi Renew Partnership The Esports Observer - The Esports Observer

SAN FRANCISCO--(BUSINESS WIRE)--SoFi announced today that it will be offering its members the ability to invest in IPOs for companies going public, an investment opportunity that has traditionally been reserved for large institutional investors or ultra-high-net-worth individuals. In a continuing effort to break down barriers to investing, SoFi anticipates offering several initial public offering securities in the coming months available to SoFi Invest members through the SoFi app.

Our mission at SoFi is to help people achieve financial independence to realize their ambitions, said Anthony Noto, CEO of SoFi. If youre going to achieve your financial goals, having access to a broad range of diversified investment opportunities is imperative, and gaining access to primary offerings is another way to diversify your portfolio that has previously been restricted to a select few. IPO Investing reflects our continued effort to make investing more accessible, by pioneering fractional shares, offering commission-free trading, creating unique SoFi-branded ETFs, and now, IPO investing.

Our unique IPO product offering will be available to anyone who opens or has a SoFi Active Invest account and has at least $3,000 in total account value across all of SoFi Invest (inclusive of automated and active investing). SoFi recognizes that investing in IPOs is inherently risky and we are committed to clearly disclosing the risks and benefits associated with this type of investment opportunity. To find out more information, learn more about IPO investing at http://www.sofi.com/invest/ipo-investing.

SoFi Invest offers innovative investment tools to help members get their money right at every stage of their financial lives, from automated investing to commission-free active stock trading, fractional-share trading, cryptocurrency, and the industrys first zero-fee ETFs. With support for instant account funding, members need not delay taking the next steps in their investment journey. SoFi Invests product offerings are frequently recognized for their excellence in selection, speed, and convenience by numerous outlets ranging from BuzzFeed to Investopedia.

About SoFi

SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over 1.8 million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Funds investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund companys website or by emailing customer service at investsupport@sofi.com. Please read the prospectus carefully prior to investing.

If you invest in Exchange Traded Funds (ETFs) through SoFi Invest (either by buying them yourself or via investing in SoFi Invests automated investments, formerly SoFi Wealth), these funds will have their own management fees. These fees are not paid directly by you, but rather by the fund itself, these fees do reduce the funds returns. Check out each funds prospectus for details. SoFi Invest does not receive sales commissions, 12b-1 fees, or other fees from ETFs for investing such funds on behalf of advisory clients, though if SoFi Invest creates its own funds, it could earn management fees there.

SoFi Invest may waive all, or part of any of these fees, permanently or for a period of time, at its sole discretion for any reason. Fees are subject to change at any time. The current fee schedule will always be available in your Account Documents section of SoFi Invest.

Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities IPO Risk Disclosure Statement (https://www.sofi.com/iporisk/). IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.

New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customers initial offer (Indication of Interest). For SoFis allocation procedures please refer to IPO Allocation Procedures.

SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.

1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-Registered Investment Adviser (Sofi Wealth). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.

2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA(www.finra.org)/SIPC(www.sipc.org), (Sofi Securities). Clearing and custody of all securities are provided by APEX Clearing Corporation.

3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.

For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit http://www.sofi.com/legal.

Read more from the original source:

SoFi to Break Down the Barriers and Offer Members Early Access to IPOs - Business Wire

By Wendy Stewart, Atlanta Market President for Bank of America

Womens History Month is a celebration of the contributions and progress being made by women across the globe, and this is especially true given the past year with coronavirus-related disruptions.

Balancing work and life can be challenging for mothers even in the best of times, but it became even more so in the past year. Women experienced higher coronavirus-related job losses in 2020, while also bearing more childcare and home management responsibilities than men. According tothe U.S. Bureau of Labor Statistics, nearly 2.4 million women exited the workforce during the past year, compared to less than 1.8 million men.

In Atlanta, women make up 51.5% of the population, yet they earn nearly 20% less than their male counterparts. It is crucial that women are not forced to choose between their financial wellbeing and caring for the ones they love in an uncertain economy. That difficult choice can be addressed with progressive workplace policies, such as the childcare reimbursements or adult care services programs for aging parents that Bank of America provides its employees.

Investing in women is not just the right thing to do; it also makes for good business because diverse and inclusive workplaces are essential in meeting the needs of todays clients, communities and key stakeholders. Bank of America recognizes the significant role women play in advancing thriving economies. Its why we continue to invest every day in helping them make meaningful contributions within our company and in their communities at large.

For example, the bank partners with more than 350 colleges and universities around the world to recruit diverse talent, and our most recent summer intern class was 47% female. Locally, we partner with Georgia State University, Georgia Tech and Spelman College to attract the best female talent, which is critical to sustaining our company, making Bank of America a great place to work and driving responsible growth. We have programs designed specifically to support the retention and career development of female employees, such as our womens employee network, which is more than 36,000 members strong, as well as other professional development opportunities to help engage, develop, retain and support our female talent across the company.

Outside of the workplace, we must give women the tools they need to achieve their own economic success as well. Financial security means more than money for women; It represents financial independence, freedom and empowerment in a world that often does not prioritize their prosperity. Financial institutions can be a major catalyst on this front, such as Bank of Americas initiatives focused on gender lens investing strategies or the Tory Burch Foundation Capital Program, which pledged $100 million in affordable loans to female entrepreneurs.

In Atlanta, we are continuing to invest and partner with Access to Capital for Entrepreneurs, the Atlanta Womens Foundation, YWCA of Atlanta, as well as women-led organizations like Atlanta Technical College, Atlanta Habitat for Humanity, Atlanta Land Trust and Grove Park Foundation. By supporting these organizations and the women they support, we all achieve our collective goal to advance womens roles in business and in the community.

In addition to supporting these groups, we can personally advance this cause by engaging women in important financial discussions, promoting strong financial habits and encouraging women leaders to become mentors for others down the line. It is also crucial that we urge women to begin planning early for unexpected future challenges, such as career interruptions and higher healthcare costs.

As we celebrate Womens History Month, let us make a difference in Atlanta by putting womens lifelong financial wellness front and center. Financial health will not only be vital to achieving equality; it will prove essential to preserving balance and advancing economic opportunity for generations to come.

Read the original:

Investing in Women is Good Business - SaportaReport

SoFi on-jersey logo on Misfits Call of Duty player

SoFi scored what appears to be a first in esports in a recent deal with Misfits Gaming that puts the fintech companys logo on in-game jerseys of the esports organizations Call of Duty and Overwatch teams, among other provisions.

On-jersey brand patches are well-established marketing tools in more traditional sports. English Premier League PINC soccer has blazoned huge corporate sponsor names across its teams jerseys for years. More recently, the NBA started allowing small brand patches on the upper left front of each of team jerseys, though other major US sports still havent signed off.

The Misfits SoFi virtual patches on the back of players in-game avatars are large enough to be easily visible for anyone watching a match on their computer or a connected TV, but still relatively modest in size.

The deal has three macro buckets or pillars, said SoFi CMO Lauren Stafford Webb:

SoFi is also doing a financial education program for Misfits team members, in line with the companys pitch about improving lives both in gaming and in finances.

We're also offering sessions to the players that teach them how to invest and how to think about getting their moneyright, so that they can achieve financial independence, Stafford Webb said. So it's really a mix of content, in-game integration, and really focused on how we can not just build awareness, but build authentic relationships with gamers and their viewers.

The Misfits organization, which is based in Boca Raton, Fla., has two teams, the Florida Mutineers in Call of Duty and the Florida Mayhem of Overwatch. Both games are published, and tightly controlled, by Activision ATVI . Misfits also has a third team, Misfits Gaming, in the League of Legends European Championship circuit, that is not covered in the deal.

SoFi initially began working with Misfits last year, and the new deal expands that relationship considerably.

The company said its initial forays with Misfits helped improve brand trust among Misfits followers by 56 percent, and brand consideration by 258 percent, notable in a crowded market of next-gen finance apps trying to connect with mobile-savvy younger potential customers.

SoFi has plenty of other marketing investments, most notably as the naming sponsor on the $6 billion Inglewood, Calif., stadium where the NFLs Los Angeles Rams and Chargers play. That 20-year deal was signed in 2019, and shepherded by SoFi CEO Anthony Noto, a former CFO for the NFL.

And though the pandemics initial months bruised the esports business model by forcing the cancellation of many live events and tournaments, it hasnt kept other brands from getting into the sector.

Two alcoholic beverage lines, Twisted Tea Iced Tea and Truly Hard Seltzer, signed a multi-year deal with 100 Thieves, the big Los Angeles esports, apparel and social-media collective. Under the deal announced Friday, the brands will become the teams official hard seltzer and hard iced tea. The Boston Beer Company SAM owns the two drink lines.

The new deal came out of an activation last year with one of 100 Thieves best-known personalities, CouRage, who now is a brand ambassador for Twisted and Truly. He will host happy hour co-streams with other 100 Thieves talent. Owners of 100 Thieves include singer Drake, music mogul Scooter Braun, and Rocket Mortgage/Quicken founder Dan Gilbert. Twitter and Square SQ CEO Jack Dorsey has also been an investor.

Read the original here:

SoFi Gets First On-Jersey Patch In Esports With Misfits Gaming Deal - Forbes

Kelly Springer is CEO of Metal Flow Corp. courtesy

Springer, who has been part of the leadership team for the Holland-based auto parts manufacturer since 2013, says shes committed to the organizations mission to champion social and economic equality for women.

As I look at the important work Michigan Women Forward does across the state to empower women and girls, I am honored to be recognized with the other honorees this year. I look forward to continuing my support of the MWF mission, Springer says.

WomanUp & Celebrate

MWF, a statewide organization focused on creating an inclusive economy for the state of Michigan so that all women and girls can reach their full potential, will host the 29th annual WomanUp & Celebrate events on April 21 and 28.

The online awards ceremony and networking events will honor this years Woman of Achievement and Courage awardees. Funds raised from the event support MWFs mission to promote financial independence, economic justice, and gender equity for Michigan women and girls. Viewers will have an opportunity to hear from some remarkable women entrepreneurs and young women supported by MWF. The virtual event will be broadcast live on two dates: in West Michigan on April 21 at 12:30 p.m., and in Southeast Michigan on April 28 at 12:30 p.m.

Honorees, events

The West Michigan honorees for the 2021 WomanUp & Celebrate events are:

View original post here:

Metal Flow CEO honored as Woman of Achievement and Courage - Concentrate

IT sounded like the classic fairytale ending - the stunning Hollywood actress who married a prince and lived a life of luxury in Monaco.

But Grace Kelly was forced to PAY 1.5m to Prince Rainier's family - around 15million in todays money - before walking down the aisle.

15

The dowry - a tradition in royal circles - boosted the coffers of the cash-strapped principality and wiped out her personal savings as well as a future inheritance.

Her marriage to Prince Rainier was the gateway to an enviable lifestyle but it also put an end to her stellar screen career, just as her box office draw reached its peak.

When she died in a car crash, at the tragically young age of 52, Graces will left just 7,400 and a derelict cottage in Ireland which once belonged to her grandparents.

In a new Channel 5 documentary, Grace Kelly: The Missing Millions, forensic accountant Gemma Godfrey delves into the iconic stars finances, before and after marriage, and tots up the wealth she missed out on.

Shockingly, she concludes the stars net worth should have been around 40million, regardless of any royal assets.

15

Grace transitioned from a Hollywood star to a fashion icon and then a princess, Gemma tells the Sun.

She captured people's imaginations and it looks like it's a fairytale. But she faced sexual discrimination in Hollywood, then lost her financial independence as a result of her marriage.

Six decades on, Meghan Markles marriage to Prince Harry echoes Graces story, says Gemma.

Like Grace, Meghan is an American actress marrying into a European royal family, and struggling with the huge adjustment that brings, she says.

Both women were fiercely independent with successful careers before their marriages.

Its a huge transition to become part of an institution where it's no longer about your own desires, it's about serving the royal family, and your wishes are secondary."

15

15

Far from a rags to riches story, Grace was the daughter of a wealthy businessman and grew up in a Philadelphia mansion, waited on by servants.

But father Jack disapproved of her desire to become an actress and, at 18, she turned and moved to New York, paying her way through drama school by becoming a model.

Her successful career, in toothpaste and clothing ads, would have earned her the equivalent of 220,000 in todays market.

15

Grace's big Hollywood break came at 23, when she was cast opposite Gary Cooper in High Noon.

Snapped up by movie giants MGM, Grace signed a seven year contract which gave the studio the right to three films a year, over seven years with a 15,000 bonus if she completed all three.

Her wages were 550 a week - netting her a total of over 200,000, or 2million in todays money.

Grace was savvy and driven, says Gemma.

She negotiated her own deal with MGM, and got them to agree that she could still live in New York and do theatre work, which was unusual.

But under the studio system in the 1950s, MGM had a huge amount of control, choosing her films, loaning her out to other studios at a 400 percent mark up and even setting her up with dates for publicity.

15

Grace starred in a string of hit movies, including the Hitchcock classics Rear Window, Dial M for Murder and To Catch a Thief.

But the huge gender pay gap meant her leading men were often earning six times her wages - with Clark Gable earning 3,700 a week for his role in Mogumbo, to Graces 550.

A best actress Oscar win, for her role as the wife of an alcoholic played by Bing Crosby in the Country Wife, elevated her Hollywood worth even further in 1954.

Her appearance at the awards in a 3,000 Edith Head dress - worth 37,000 today - cemented her status as a fashion icon.

But even as an Oscar winner she was paid 3,600 a week on To Catch a Thief, while Cary Grant earned 10,000 more.

15

15

Behind the scenes, Graces affairs with her older co-stars were becoming legendary.

She had flings with William Holden, Bing Crosby and Marlon Brando as well as High Noon co-star Gary Cooper, a married man 28 years her senior, and Ray Milland, who had been married 20 years.

She also admitted sleeping with her Magumbo co-star, commenting: What else is there to do if you're alone in a tent in Africa with Clark Gable?

But after meeting Prince Rainier during a trip to the Cannes film festival, in 1955, her life changed forever.

A year later, in April 1956, the couple wed in a lavish ceremony at St. Nicholas Cathedral, attended by 600 guests, including Hollywood celebrities Ava Gardner, Cary Grant and Gloria Swanson and Greek magnate Aristotle Onassis

15

15

Around 30 million people across the globe watched the ceremony, unaware of the hefty financial price Grace had paid in the dowry.

Monaco wasnt the glamorous principality it is today, so they needed the money, says Gemma.

But she had built up her wealth and her independence and that was wiped out.

Ironically, it was Graces iconic image that turned Monaco into a fashionable playground for the super rich, bringing a huge amount of wealth to its marinas, casinos and high end hotels.

Grace attracted millionaires to Monaco, says Gemma. She helped Monaco regain its riches, yet she had to pay for that privilege.

In 1960, when dad Jack died leaving her 190,000, she was still paying - having borrowed against the inheritance for the dowry.

15

15

Royal marriage brought a life of luxury, with a 200 room palace, a chateau in France with grounds six times the size of Monaco, a ski chalet in Verbier and 4million yachts.

Her clothes were made by the best designers and the jewellery she wore, from Cartier and Van Cleef, cost tens of millions.

But in a telling clip from before her marriage, Grace is asked whether she will continue to act and carefully replies: That decision will be made by the Prince.

In fact, despite being wooed by Alfred Hitchcock for the lead in Marnie in 1964 and offered many other roles, she never acted again.

15

Her one true love was acting, says Gemma.

She said in one interview she had just got a glimpse of the exciting career ahead when it was cut short.

She may have thought she would return once she did her royal duty, and produced a family but, despite her worth soaring since the marriage, she never did.

Grace had three children - Princess Caroline, 64, Prince Albert, 63 and Princess Stephanie, 56 - but by turning her back on Hollywood she lost out on a fortune.

By comparison, her contemporaries, Audrey Hepburn and Doris Day, went on to careers worth and estimated 75million and 150million respectively.

15

15

On September 13, 1982, Princess Grace had a stroke while driving on country roads near one of the royal houses, losing control of the car and plummeting 120ft off a mountainside.

Daughter Stephanie, who was in the passenger seat, miraculously survived but Grace died in hospital the next day.

Her will, written in 1975 and seen by Gemma, left a few thousand dollars and the ramshackle Irish property to a bank trust in the US.

There was no mention of jewellery, family heirlooms or any money from her Hollywood heyday.

Gemma also discovered the existence of a separate will, held by the Grimaldi family but a request to view the document was refused.

But she says Grace was unlikely to have much cash in her own name.

Any jewellery she owned would have been passed down to her daughters and daughter-in-law, she says.

But once she married, she wasn't able to earn her own income.

Again, there are parallels with Meghan because when youre not earning your own money, you are more restricted on what you can spend.

"You're being funded as a member of the royal family and you have to act in line with that.

Princess Grace never publicly expressed any dissatisfaction with life and yesterday her son, Prince Albert, scolded Prince Harry and Meghan, for airing their grievances in the Oprah interview.

kicking offCoronation Street fans livid as TWO episodes cancelled tonight for World Cup

SINGH STINGRanvir Singh in fiery clash with Dr Hilary as he tells GMB 'wear mask on BEACH'

'KEEP YOUR HEAD DOWN!'The Chase's Bradley Walsh defends player against angry team mates

LITTLE BICSBake Off fans sob as Jade Thirlwall INCLUDES Jesy Nelson in Little Mix biscuits

Exclusive

REIDY TO RULESusanna Reid lands new role as solo star of GMB in battle to replace Piers

SUNNY STROLLCorrie's Jack P Shepherd spotted after revealing he's battling eating disorder

But like Meghan, Grace may have viewed her luxurious life as a gilded cage.

Grace joined the royal family so she actively chose that lifestyle, says Gemma.

But it's a stark difference from the life she had before, when she had freedom, control and financial independence."

Grace Kelly: The Missing Millions airs on Channel 5 at 9pm tonight

Continue reading here:

How Grace Kelly lost financial independence like Meghan, missed out on 40m and died with just 7,400 to h... - The Sun