Daily Archives: April 9, 2022

LeBron James will miss the Los Angeles Lakers' final two games of the season due to an ankle injury. The team re-evaluated James' injury and determined it best he sit for the rest of the season.

James sustained the injury March 27. He missed two games before returning to play against the New Orleans Pelicans on April 1 when the Lakers were still in contention for the play-in tournament. The Lakers lost that game, pushing the postseason further out of view.

James then missed the next three games due to the injury. During that time, the Lakers were officially eliminated from the postseason.

James is expected to make a full recovery from the ankle sprain.

LeBron James will miss the Lakers' final two games. (Photo by Kevork Djansezian/Getty Images)

It was a disappointing season for the Lakers overall, but James turned in a strong performance. James, 37, averaged 30.3 points per game, the second-highest rate of his career.

James had a shot at winning the scoring title, but will not play enough games to qualify for the title. Players need to play 58 games to qualify for end-of-season awards. James played in 56 games.

In a historically close race, Philadelphia 76ers center Joel Embiid (30.42 ppg) and Milwaukee Bucks big Giannis Antetokounmpo (29.88) were vying with James for the scoring title.

James' performance wasn't enough to lift the Lakers most nights. It didn't help that Anthony Davis missed time due to injuries and Russell Westbrook had a down year.

With the Lakers missing the playoffs, James will have to figure out how to lead the team back to prominence next season. Davis, James and Westbrook are all under contract for at least one more season, but the Lakers will likely need to make wholesale changes in the offseason in order to contend in James' 20th NBA season.

Link:

Lakers say LeBron James will miss rest of the season due to ankle injury - Yahoo Sports

Meet Jon Friedman, the founder of Freight Farms, a company making farming possible anywhere in the world.

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When it comes to farming, only certain crops can develop in certain climates. With modern advances in refrigeration and transportation, many places have been able to get around this. Much of the food we get in our supermarket is only accessible to us because it was carefully refrigerated and transported from where it was created.

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However, communities across the world cant always access certain crops. Freight Farms makes it possible by using shipping containers to create vertical farms that can hold up anywhere.

We use a shipping container to create a turnkey growing facility that can ship anywhere in the world and grow exactly the same in any climate, Friedman told In The Know.

The company also provides training, tools and resources to those seeking to operate one of its farms. Freight Farms flagship product is the Greenery S.

It is a 40-foot shipping container completely customized to growing precision levels of hydroponic vegetables, Friedman said. So, you can put one of these in any environment in the world, and it will grow 365 days a year, over a thousand heads of lettuce a week. It actually does over 500 different crops.

The Greenery S can produce pumpkins, watermelons, peppers, flowers, tomatoes and much more. What makes the Greenery S so innovative is that you dont need access to a large landmass or even water.

Were wicking water from the air and bringing that and filtering it back into the tank. Really, Greenery S is a way to democratize access to farming, he said.

The shipping container creates an instant, controlled environment at a far more affordable cost than a greenhouse or warehouse. Its simplicity allows just about anyone who wants to farm to use the Greenery S because science and engineering skills arent necessary to operate it.

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This can go a long way in addressing things like food scarcity caused by damage to the environment.

The need for alternative farming solutions is really driven by terrible land depletion, water resource scarcity, the risk in our supply chain centralized production and distribution doesnt really support all the people in the world and all the places that need access to it, Friedman said.

With the Greenery S, we tied that into renewable power distribution, so this is really the most sustainable way you can grow. And we need to make that change as a global population.

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The post Freight Farms uses shipping containers to grow crops anywhere in the world appeared first on In The Know.

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Freight Farms uses shipping containers to grow crops anywhere in the world - Yahoo Sports

SmartAsset: Is It Better to Take RMD Monthly or Annually

After a certain age, you must begin to take minimum withdrawals from your tax-advantaged retirement accounts. The exact amount of this required minimum distribution or RMD is determined by a number of factors, including your age and the amount you have saved up.

The IRS requires you to report this distribution on your annual taxes, so it has to happen by the end of each calendar year. Beyond that, though, you can structure this withdrawal based on your own financial interests. Most retirees collect their required minimum distributions either annually, quarterly or monthly. So long as you withdraw the minimum required amount by Dec. 31, the tax implications are unchanged.

Let's consider your options.

A financial expert could help you create a financial plan for your retirement needs and goals.

What Is the Required Minimum Distribution?

A required minimum distribution is the amount of money you must withdraw each year from a tax-advantaged retirement account. You can take out more than your RMD, but you must withdraw at least this much each year. The amount of your required minimum distribution is determined by your age and savings, and taxpayers can calculate it each year using the IRS' Uniform Lifetime Table.

For anyone who turned 70 on or after July 1, 2019, required minimum distributions begin at age 72. For all retirees who turned 70 before July 1, 2019, required minimum distributions begin at age 70 and six months.

The purpose of a required minimum distribution is so that the IRS can eventually collect the taxes that it deferred when you made contributions to your various retirement accounts. It applies to accounts such as 401(k)s, IRAs and almost any other form of retirement account on which you don't pay taxes. The only significant exceptions are Roth IRAs and other similarly situated accounts.

You must calculate a required minimum distribution for each retirement account in your name. This means that if you have three different qualifying retirement accounts, you must calculate the required minimum distribution for all three accounts. If you fail to withdraw (and pay taxes) on a required minimum distribution, you can be taxed at up to 50% of the required amount. (For example, if you were required to withdraw at least $10,000 and did not do so, you can face a tax bill of up to $5,000.)

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You can use an RMD, however, you see fit; the government just wants to make sure you eventually pay taxes on this money. The only restriction is that you cannot reinvest it in a tax-advantaged retirement account other than, in some cases, a Roth IRA.

Annual Withdrawals

SmartAsset: Is It Better to Take RMD Monthly or Annually

An annual withdrawal plan means that you calculate and withdraw your required minimum distribution in one lump sum each year. This is a perfectly acceptable approach to accounting, since your required minimum distribution is set by a pre-determined formula. You calculate it based on the value of your retirement accounts as of Dec. 31 the year before and using the Uniform Lifetime Table that the IRS releases for each year's tax filings.

So, for example, to calculate your required minimum distribution in 2022, you would use the value of your retirement accounts as of Dec. 31, 2021 and the Uniform Lifetime Table applicable to 2022.

Most taxpayers who choose to make annual withdrawals do so either at the beginning or at the end of each tax year. This is a matter of personal accounting since you can withdraw this money at any time. The one exception is that in the first year that you qualify for a required minimum distribution, you must begin making these withdrawals by April 1. For all years afterward the IRS has no deadline other than end of year.

Whenever you choose to withdraw your minimum distributions, there are pros and cons to the annual approach. The benefits to annual withdrawals can include:

Immediate resolution of your tax obligations. By withdrawing all of your required minimum distribution at once, at the start of the year, you get your tax obligation over with. You don't have to worry about forgetting or otherwise making a mistake during the rest of the year.

Reinvestment opportunities. If you have other strong investments, you can take your minimum distribution and invest it in those opportunities earlier, with more time for growth.

Potentially better growth. Since this is a tax advantaged account, the sooner you withdraw this money the sooner you pay taxes on it. By contrast, the longer you leave it alone the longer it can grow tax-free. Withdrawing it all at the end of the year can mean more growth in your retirement account over the long run. This is the biggest advantage to making annual withdrawals.

However, there are some downsides to annual withdrawals too. Those can include:

Potentially higher estimated taxes. If you pay taxes quarterly, for example if you own a business or generate self-employment income, you can significantly increase your estimated taxes by taking an early minimum distribution.

Cash flow disruption. Some people need the structure of a regular income for their financial planning purposes, which a lump sum withdrawal can disrupt.

Potentially forgetting. If you wait until the end of the year to make your minimum distribution, there's a chance you'll forget to do so altogether.

Risk of spending the tax money. When you withdraw money from your retirement account, you must pay taxes on the profits that account has accrued. If you take your RMD early in the year, there's a risk that you will spend the portion of that money that you will later need to pay taxes. (This depends on how you structure your account, as some retirement accounts will automatically withhold taxes on your behalf.)

Monthly/Quarterly Withdrawals

SmartAsset: Is It Better to Take RMD Monthly or Annually

The other common approach to required minimum distributions is for retirees to take this money either every month or every quarter. As with annual distributions, there is no best way to handle this money. Some retirees prefer taking a lump sum distribution each year. Others prefer a series of smaller monthly withdrawals. It's all up to you.

Readers should note that even this is not the only option. You can make distributions as frequently as your portfolio will allow transfers. However, monthly is the most frequent common approach.

The benefits to a monthly or quarterly approach can include:

Cash flow management. Making monthly withdrawals allows you to treat this as a regular income. Many retirees prefer this style of cash flow over a lump sum format, as it helps with personal finance and budgeting. This is often the biggest advantage to making monthly or quarterly withdrawals.

Estimated taxes. As noted in our section on annual withdrawals, if you pay quarterly taxes based on other income, having your required minimum distribution arrive in regular segments can make these estimated taxes easier.

Tax payments. If you make monthly withdrawals, it's often easier to have your portfolio manager automatically deduct any applicable income taxes so that you don't have to worry about setting the money aside.

Some potential downsides to a monthly or quarterly approach can include:

Reduced growth. The longer you leave your money in place, the more it can grow. If you take your withdrawals over the course of the year, your portfolio will lose some opportunities growth based on reduced capital.

Potential for miscalculation. While less of a concern if you work with a professional, if you withdraw your money in stages (rather than one lump sum) there's more chance that you'll miscalculate or otherwise make a mistake in your minimum withdrawal.

Ultimately, this comes down to the choice that's best for your finances. In most cases we can recommend framing the issue this way: Your money has the most potential for growth if you take your entire minimum distribution at the end of each calendar year. However, personal budgeting may be easiest if you take your minimum distribution in 12 monthly portions.

If you do take your minimum distribution at the end of the calendar year, make sure you set up an automatic withdrawal. Even professional brokers can get distracted around Christmas and New Year's, and you don't want to discover that your sell order got held up by the holidays.

Bottom Line

You can take your required minimum distribution at any point, so long as it happens before the end of the year. Most retirees either take their money in one lump sum at the end of the year, to give it the most time to grow tax-free. Others withdraw their money each month, to give themselves a regular stream of income.

Tips for Retirement Planning

According to the Federal Reserve, 60% of those with self-directed retirement accounts are not confident about their investment decisions. If you're one of them, why not hire a financial advisor? SmartAsset's free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you're ready to find an advisor who can help you achieve your financial goals, get started now.

Getting the RMD right is extremely important. The tax implications for this are huge, with potential liability up to 50% of the entire amount. So make sure you know how to calculate your required minimum distribution.

Photo credit: iStock.com/fstop123, iStock.com/PeopleImages iStock.com/PeopleImages

The post Is It Better to Take RMD Monthly or Annually appeared first on SmartAsset Blog.

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Is It Better to Take RMD Monthly or Annually? - Yahoo Finance

We're still five months away from the start of the NFL season, but it's not too early to look forward to next year. Exploiting the futures market during the offseason allows bettors the opportunity to try and beat the market and get the best of numbers before the rest of the world starts paying attention in late summer.

Aaron Rodgers has won back-to-back NFL MVP awards, and he's a co-favorite alongside Patrick Mahomes and Josh Allen to win the award again in 2022. However, there's another quarterback a little further down the list who might be worthy of an investment.

In his rookie season, Justin Herbert rewrote the rookie quarterback record books. He finished 2020 as the all-time rookie leader in passing touchdowns, total touchdowns and completions. He also had the most games with 300-plus passing yards and 3-plus touchdown passes of any rookie ever in a single season. He won the offensive rookie of the year award in a year where Justin Jefferson also shattered records.

In his second year, Herbert eclipsed 5,000 passing yards. He finished second in the league in passing yards and third in passing touchdowns.

No quarterback has ever had a better first two seasons in the league. His 9,350 passing yards, 69 passing touchdowns, 839 completions and 17 games with 300-plus passing yards are all records for a signal caller during their first two seasons. Not even Patrick Mahomes had a better first two years.

Is Justin Herbert a good bet to win NFL MVP in 2022? (Chris Unger/Getty Images)

Herbert also passes the eye-test. His 6-foot-6, 240 pound size gives him more than ideal measurables for an NFL quarterback. He's also mobile, as shown by his 536 rushing yards and 8 rushing touchdowns over his first two seasons. There's not a throw on the field he can't make and he has a bazooka attached to his right shoulder. It was easy to see right from the beginning that Herbert had the goods.

Young quarterbacks usually continue to get better over the first few years of their career. They learn the league and different coverages and situations they need to deal with. They physically mature as well. They learn what works and what doesn't work. Herbert was already one of the top quarterbacks in football over his first two years, so if he continues to improve, an MVP award certainly isn't out of the question. Herbert is currently 14-to-1 to win the award in 2022.

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While Herbert has been tremendous in his first two seasons, that hasn't exactly resulted in wins for the Los Angeles Chargers. The Chargers have gone 16-17 over the last two seasons, missing the playoffs in both years.

Obviously, very little of that blame actually goes to Herbert. If you remember, the Chargers and Raiders played a win-and-in game in Week 18 of this past season. In that game, Herbert erased a 15-point Chargers' deficit in the final five minutes in order to force overtime. Over those two drives, Herbert picked up many key conversions on third and fourth down. The first touchdown was on a 4th-and-21 play while the second touchdown was on the final play of the game.

However, things are expected to improve in Los Angeles this season. Their preseason win total is set at 10.5 wins. The oddsmakers also have them as -150 favorites to make the playoffs in the loaded AFC. The team added Khalil Mack, J.C. Jackson and Sebastian Joseph-Day this offseason to bolster their defense. They have the 17th overall pick in the upcoming draft to bolster their roster even further.

On offense, the Chargers have elite weapons in Keenan Allen, Austin Ekeler and Mike Williams. Josh Palmer showed flashes in his rookie season. The team also signed Gerald Everett, a good pass-catching tight end. Los Angeles had a top-10 offensive line in 2021, according to PFF.

Herbert was already a top quarterback last year in most categories. If the Chargers improve on the field and win more games, that will only help the narrative around Herbert. A young, already top-level quarterback in a big market on a team that's expected to be much improved is not a bad bet for MVP.

A quarterback has won MVP in nine straight seasons and 14 of the last 15 years. Therefore, it should be no surprise that the eight players with the best MVP odds for 2022 are quarterbacks. Here's the rest of the current MVP leaderboard at BetMGM:

Read more:

NFL betting: Can Justin Herbert take another step and push for the MVP in 2022? - Yahoo Sports