Daily Archives: February 5, 2022

NEW YORK, Feb. 3, 2022 /PRNewswire/ --The Knowledge House (TKH) welcomes applicants to apply for their 2022 Innovation Fellowship - the 12 month intensive program to prepare youth and young adults for technology-based career opportunities in the areas of web development, data science, and design. The Innovation Fellowship provides free digital skills training in coding and design programs through technical training, career support, and a comprehensive network of partners to help disconnected job seekers secure rewarding careers in the tech economy and become financially independent. The annual program will serve young people, ages 14-35, in three (3) major cities -- Los Angeles, CA; Atlanta, GA and Newark, NJ as well as continued programming in New York State. The award-winning nonprofit organization looks forward to accepting 200 new students into their award-winning program by July 1st.

"The Knowledge House is a tech-enabled movement, solving the employment and income disparities in our communities. As the COO, I look forward to building and supporting an agile, and scalable environment, an impact-driven team, and helping build a movement to further our mission," Cyrus Z. Kazi, Chief Operating Officer, the latest member to join The Knowledge House team.

The Knowledge House looks forward to offering hybrid, in-person classes along with their online classes for students in all four cities, especially in Newark with support from BRICK Education Network. "South Ward Promise Neighborhood is excited to enter a partnership with The Knowledge House (TKH) to help close the gap on access to technology for our South Ward families. As we have seen exasperated over the last two years, access to technology is extremely limited and, in some cases, non-existent in many of our South Ward homes. This amazing partnership with TKH will not only bring 21st Century digital resources to our neighborhoods, but will substantially increase the household income of 30 South Ward families by helping caregivers secure employment in the technology and coding fields. TKH is transforming communities through access to opportunities in the digital age." Justine Asante, Director of Partner Operations at BRICK Education Network.

Applications for The 2022 Innovation Fellowship can be found at:http://www.theknowledgehouse.org/apply/

Applicants must be:

To speak with Jerelyn Rodriguez, CEO of The Knowledge House about providing technology based careers for youth and young adults of NYC, Newark, Atlanta and Los Angeles young people in the tech industry, please contact: Kim Wilson Marshall, PR Consultant, [emailprotected] or 646.721.4375

About The Knowledge House (TKH)The Knowledge House (TKH)is committed to taking low-income youth and young adults from unemployment and underemployment to financial independence and stability by providing them with free technical training and professional development services that put them on a direct path to employment in the tech sector. Companies that hire our graduates include Bloomberg LP, McKinsey and Company, DStillery, Citibank, Facebook, and Goldman Sachs.

Since its founding in 2014, TKH has grown to serve nearly 2,000 young people in New York. In 2021, TKH is expanding its programming to serve young people in Newark, Atlanta, and Los Angeles.

The Knowledge House has received generous funding from: NBA Foundation, American Heart Association, Robin Hood Foundation, Microsoft, Bloomberg, Capital One, French Montana, Goldman Sachs, New York Community Trust, Summerfield Foundation and more.

The Knowledge House has been featured in: Blavity, Ebony,Forbes,Crain's New York BusinessWABC "Here & Now"and many other media outlets.

To learn more, visit theknowledgehouse.org/

SOURCE The Knowledge House

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Innovate & Elevate: The Knowledge House Welcomes Applicants for the 2022 Innovation Fellowship - PRNewswire

Some of the 'rules' about mortgages, paying with cash and retirement savings may be worth another look

Traditional financial advice like the kind you got from your parents is often true but even experienced investors might rely on maxims that are outdated and no longer serving your financial well-being.

In fact, quite the opposite, as sticking to adages like "cash is king" (money is more valuable than other investments like stocks and bonds) and "all debt is bad" may be financial relics that you can stand to update.

Here are 5 money thoughts that you can ditch to keep a young financial mind:

1. Pay Your Mortgage Off Early

One rule that may have become obsolete is paying down your mortgage faster than usual. With mortgage interest rates low, there's a good argument that putting that money elsewhere and earning a higher return over time may be a better bet than paying down your mortgage early. "Trying to decide between eliminating debt and investing for the future can be a difficult decision," says Jason Laux, retirement advisor atSynergy Group, a retirement planning firmin White Oak, Penn.

"Saving and investing for retirement is going to offer you a better return over time."

"But mortgage debt isn't always a bad thing. If you put off saving for retirement in order to pay off your mortgage early, you may end up house rich but cash poor," says Laux.

Instead, prioritize your personal finances. Use any extra money to max out contributions to your 401(k) or IRA. "Saving and investing for retirement is going to offer you a better return over time," Laux says.

2. Cash is King

Over the long run, holding significant amounts ofcashensures that you'll suffer significant lost opportunities, explains Robert R. Johnson, professor of finance at Heider College of Business, Creighton University, and the co-author of "The Tools and Techniques of Investment Planning, Strategic Value Investing and Investment Banking for Dummies."

He explains that when it comes to building wealth, you can either sleep well or eat well. If you invest conservatively, you sleep well because of little volatility. But it doesn't allow you to eat well because your account won't grow large enough to keep you well-fed.

According to data compiled by Ibbotson Associates, large capitalization stocks (think S&P 500) returned 10.3% compounded annually from 1926 through 2020.

Over that same time, long-term government bonds returned 5.5% annually and T-bills returned 3.3% annually.To put it in perspective, $1.00 invested in the S&P 500 at the start of 1926 would have grown to $10,945 (with all dividends reinvested). That same dollar invested in T-bills would have grown to $21.71. "The surest way to build wealth over long-time horizonsisto invest in a diversified portfolio of common stocks," says Johnson.

3. You Must Have a Financial Advisor

Twenty years ago, if you had disposable income, you gave it to a financial advisor, who invested your money into safe, boring vehicles earning roughly 7% 10% per year, explains Stefan von Imhof, CEO of alts.co, one of the world's largest alternative investing communities. "Today, retail investors are increasingly shunning financial advisors, and managing investments themselves."

Imhof explains that a decade ago, 57% of households with $500K+ in net worth and a prime earner under 45-year-old had an investing style considered "mostly self-directed." By 2019, that number has shot up to 70%.

"New generations are self-educating and taking on higher levels of risk to get higher returns," says Imhof. They look to invest in alternatives, which usually aren't an option with mainstream advisors," he says. Today, managing your portfolio on your own or with light guidance from an occasional financial check-up with a professional may be the preferred way to go.

4. Contribute 10-15% Toward Retirement

"Sure, this advice will work for someone who plans on working until their mid to late 60s," says Ty Jones, a personal finance and retirement blogger who blogs at AskTheSavingsGuy, a Financial Independence Retire Early (FIRE) advocacy blog, "but if you want to retire in your 50s, you'll need to save much more aggressively."

By saving 25% of your income, a 30-year-old with no retirement savings could reach their retirement goal by age 55 instead of age 63, which is what it would be if they were to contribute only 15% per year based on the 4% rule and assuming an 8% return. Bumping up your 10% percent retirement savings to 20 or 25% can ensure both a more robust retirement portfolio and allow for earlier retirement, explains Jones.

5. Stick to the 4% Retirement Rule

This rule says you can spend 4% of your retirement funds annually and not run out of money. Johnson says, research, most notably by WadePfauof The American College of Financial Services, shows that while historically that rule of thumb worked in the United States, the current environment of low bond returns increases the likelihood that retirees may well run out of money if that ruleisapplied going forward.

Originally posted here:

5 Money Thoughts That Might Be Aging You - Next Avenue

Londoners, like everyone else in the UK, have slowly grown accustomed to life outside the EU, but a handful of residents have developed their own vision for the future. Hamish Stewart is one of a growing number of people in the capital who would like to see London become an independent city-state.

He runs an advocacy group called London Independence that envisions an independent London, free from the "shackles" of the rest of the UK, regaining its place in Europe. Speaking to MyLondon, Hamish shared some of his ideas to see London achieve greater autonomy and gradually reverse some of the after-effects of Brexit.

READ MORE: New Brexit rules that could leave people unable to go on holiday

Since Brexit, weve seen increasing food prices and challenges in the labour market, which has made life for people and businesses in London all the more challenging," he said.

London has always been a European capital and I think anyone in London understands that putting that at risk and damaging the personal and professional links with Europe is a problem.

Hamish says that public consciousness in regards to an independent London started in 2016 after the Brexit referendum, in which the majority of Londoners voted for the UK to stay in the EU.

He underlines that London wanting independence is not to suggest that theres a problem with the rest of the UK, but is simply to suggest that London is a European city that needs to have an independent relationship with Europe as well as greater financial autonomy, much like the Channel Islands and Gibraltar.

However, he describes London one day being a member of Europe as a city-state as the ideal outcome, citing examples of other micronations in the EU like Luxembourg and Malta.

On that note, Hamish abstains from dictating the exact direction London should take in its reintegration into Europe, explaining that countries like Norway and Switzerland, which arent part of the EU but are participants in the European Economic Zone, could also be taken as models.

He added: One rhetorical question we would ask is, why wouldnt Londoners and London want to be part of Europe as a city-state, with the same levels of autonomy as Norway or Switzerland might have, or some of the other participants in the European Economic Zone who are not full EU member states but still enjoy the freedom of movement of goods and people?

Thats a question weve asked London MPs and the Mayor and the London Assembly. Are there reasons why London shouldnt have more of an independent relationship with Europe as a city-state?

"And then the question becomes, what membership model do you want to pursue? Thats a conversation we think should be happening now.

Asked what an independent London would look like, Hamish answers: The borders of an independent London are there to be negotiated on. I mean, the M25 is already there, but there could be discussion on bringing in some of the home counties as well.

Do you want to stay up to date with the latest news, views, features and opinion from across the city?

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He adds: We think the M25 can be converted into housing and a new park, and that would be our soft border with the rest of the UK.

The advocate also says London would have its own independent government based in the County Hall and more control over things like immigration and tax policy, as well as a property tax that would help to alleviate problems relating to unaffordable housing.

Hamish does not think London would need to prioritise having its own standing army as he believes being part of Europe would allow the city to benefit from collective security.

He also does not anticipate a hard exit from the UK, as he argues that the rest of the UK will be better off with a healthier, independent London that has a positive and productive relationship with Europe.

I think the relationship with the UK would be determined by who leads the transition to a city-state. Its about leadership and negotiation, he said.

Of course, London would have a mutually respectful relationship with the rest of the UK. As a city-state in England, London will still be reliant on the UK for its manufacturing base and food supply, and everything else we already participate in, so its just about political and financial autonomy.

But there is one catch. Hamish says an independent London would be a republic with a written constitution, meaning no more monarchy.

The land the Royal Family owns in London could be put into a trust and they could move to one of their castles outside of the city.

Nevertheless, Hamish believes that is a price most Londoners would be willing to pay to retain their connections with Europe and greater control over where their tax money is spent.

For most Londoners, keeping a personal and professional relationship with Europe is very important and so is respect for international law, and human rights law. On that basis, I would ask Londoners what future do you want to participate in, and what future do you want to contribute to as a taxpayer, as a member of society?

On basic terms, if you want to have public services like public education, the health service, water utilities and energy system run in a way that reflects the wealth that is present in London, there needs to be greater local tax powers and fiscal independence.

He concludes: That will only happen with a push to break away from the central government.

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Campaigner wants London to become its own country with housing built on M25 to create border - My London

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Your financial independence depends on your ability to generate more passive income than your cost of living. Unfortunately, the cost of living is rising rapidly. Meanwhile, dividend and rental yields are declining. The typical rental property in Canada is likely to be cash flow negative, while dividend stocks pay 2-3% on average.

These unfortunate circumstances have pushed some investors to take on more risk. Risky tech stocks, Decentralized Finance (DeFi) products, and volatile alternative assets have become more common in the hunt for passive income. However, there is a better way. Here are two unconventional strategies that can help you boost your passive income while mitigating risk.

Most major banks and investment platforms will allow you to implement a systematic withdrawal plan. The plan allows you to sell a predetermined portion of your stocks every year to take some profits off the table. In other words, you get to tap into capital gains to boost your passive income.

For this to work, you need to focus on a blue-chip dividend stock with a healthy and predictable rate of growth. Fortis (TSX:FTS)(NYSE:FTS) is an excellent example. The utility giant experiences steady growth as Canadas population expands and electricity consumption increases.

The stock has delivered a 43% return over the past five years, which is a compounded annual growth rate of 7.4%. If you implemented a systematic withdrawal plan of 3%, you could boost your passive income without eroding capital over time. Coupled with the dividend yield (which is 3.6% right now), you could have doubled your total cash flow from this investment.

In the years ahead, the Fortis team expects to expand earnings by 4-6% annually. That means its still an excellent candidate for a long-term systematic withdrawal plan.

Heres another niche strategy to boost passive income: covered calls. This strategy involves writing call options on stocks that you plan to hold for the long term. It allows you to hold onto your stock, collect dividends, and also collect the premiums paid by traders over time.

Now, implementing this strategy by yourself could get complicated. Youll need to buy stocks and write call options independently, which isnt recommended if youre a beginner. Luckily, theres a more convenient option covered-call exchange-traded funds (ETFs).

The ETFs trade like regular stocks but offer a much greater yield than their vanilla counterparts. For instance, BMO Equal Weight Banks Index ETF, trading under ticker ZEB, and BMO Covered Call Canadian Banks ETF, trading under ticker ZWB, both focus on Canadian banks. But the former offers a 2.9% dividend yield, while the latter offers a 5.4% yield. Thats a large difference, based on a simple options strategy.

If youre bullish on Canadian banks but also want to boost passive income, switching from ZEB to ZWB could be a savvy decision.

Simple strategies like covered calls and systematic withdrawal plans can help you boost passive income without raising risk exposure.

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2 Little-Known Tricks That Could Boost Your Passive Income - The Motley Fool Canada

CHICAGO, Feb. 1, 2022 /PRNewswire/ --RLM, a leadingfull-service integrated marketing and communications advertising agency, today announced that the company will be making an even greater commitment to helping women and girls in their local community, as well as throughout the U.S. and abroad. As such, to demonstrate this commitment, RLM is unveiling its new social impact program called the RLM Reading Nook Initiative.

Through the RLM Reading Nook Initiative, RLM will be making a five-year commitment to partnering with organizations who prioritize reading, and who are committed to ensuring all future female leaders have access to books and education. These organizations are purposeful about empowering girls with the freedom that comes from having access to books that deliver literary and educational insights that are needed for their success.

Furthermore, this five-year commitment will result in RLM raising and/or donating $500,000 (half a million dollars) in literacy education and hard materials to girls across the globe.

"We are so excited to bring education, access, freedom and ultimately, financial independence to thousands of future women across the globe," said Farissa Knox, CEO and Founder of RLM. "As a black female business owner, author and avid reader myself, I know how important it is for us to support young black girls and women specifically, as well as all other girls and women, on their future pathway towards success."

RLM will kick off their first community project by launching a book drive and fundraiser with a goal of donating 200 books and $100,000 in 2022. For every book that is donated, the company will match it with $5, and all books and funding will go to RLM's annual charity of choice.

This year's first charity of choice will be an organization calledRoom to Read. The Room to Read program focuses on helping children in low-income communities by bridging the gap in child literacy. They also focus their efforts on giving girls the books and tools they need to learn so that they can advocate for themselves.

RLM invites everyone to join them in their efforts to support literacy in women and girls, by donating books at their downtown Chicago offices, have them picked up by an RLM representative or donate monetarily online by going here.

To learn more about RLM Media visit https://rlm-media.net/ or schedule an in-office drop off here. Alternatively, you can call (773) 572-8797 and a representative will pick up books from you.

Contact:Emerald-Jane Hunter4704265920[emailprotected]

SOURCE RLM Media

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RLM Launches New Community Impact Program Designed to Help Women and Girls Both Locally and Around the Globe - PRNewswire