Daily Archives: May 17, 2022

Healthcare costs continue to rise Americans planning to retire should prepare ahead of time.

The average 65-year-old couple retiring in 2022 can expect to spend $315,000 in retirement on healthcare alone, according to Fidelity Investments annual report on retirees healthcare planning thats a 5% increase from 2021 when it was $300,000 and nearly double from the first report in 2002 when it was $160,000. For single male individuals, that figure is $150,000 and for women, its $165,000.

The estimate includes Medicare Part A and Part B coverage, which covers doctors appointments, hospital visits and physical therapy, as well as Part D for prescription drugs. Those six figures do not include long-term care costs, however, which could be exorbitant when factoring in costs for nursing homes or in-home full-time care.

See: Im 33 and want to retire at 40, but have expensive medical needs how can I achieve financial independence?

Americans dont always expect to spend so much on healthcare in retirement. Couples retiring this year anticipate spending just $41,000 on medical expenses in retirement, according to Fidelitys research. When survey participants heard Fidelitys estimate was $315,000, 70% said they did not feel prepared to cover those costs in retirement.

People with a Health Savings Account felt more confident, Fidelity found. Almost half of those account holders said they felt ready, compared with 27% of the respondents who did not have an HSA. Not everyone has access to an HSA theyre available with a high deductible health plan and some who are offered this option cant afford it because of the higher deductible their insurance provider requires.

Also see: Heres what your finances should look like in your 60s and 70s

Still, an HSA may be worth considering when available, Fidelity said. These accounts can provide triple tax benefits, because contributions, earnings and withdrawals are tax-free when used for medical expenses, and they can even act as an extra retirement account since participants are not required to spend down what they save and invest in an HSA in any given year.

Along with saving for healthcare in retirement, Americans planning their futures should explore long-term care options, including insurance or hybrid policies that provide some coverage. They may also want to talk these plans out with family members, who might become caretakers in the future this could save both older relatives and their loved ones from additional stress during an emotionally taxing time.

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The cost of retiree healthcare is climbing heres what you should expect to spend - MarketWatch

Whether as quietist retreat or gnostic withdrawal, the political allure of cryptocurrencies doesn't seem to stand up to the hard forces of reality.

A decade ago, I briefly dated a woman who dreamed of ending the nation-state. She popped prosecco first thing in the morning, and smoked two packs a day. More alluring still, shed built and sold her own strategic-comms consultancy that included NATO as a client. Her phone was full of selfies with various Kalashnikov-toting rebels in places like Libya. All this, without a college degree. This girl was cool.

Meanwhile, I was piling up debt to attend a second-tier law school, burdened by the Iranian immigrants dreams and filial obligations. One day, Sarah (lets call her) suggested I buy something called a bitcoin. It was a sort of internet currency, she explained, that would gain enormous value amid central banks insane splurge in response to the financial crisis. More than that, she predicted, this thingwould usher a new era of radical decentralization and freedom.

I didnt buy bitcoin. And for years afterward, I recounted this episode as a prime example of what a financial schmuck I was, and still am. For notwithstanding the current bloodbath in crypto markets, I couldve struck it bitcoin-rich had I heeded Sarahs advice (and had I had any real liquidity lying around back then). Yet even then, I could tell that bitcoin wasnt mainly about profits for Sarah, who had already achieved a significant measure of financial independence.

No, for her, and for other crypto-enthusiasts Ive gotten to know since, digital currencies are ultimately a political projector rather, an anti-politicalproject. Crypto-ism is but one expression of the age-old yearning to overcome the concrete limits and inconvenient bonds of obligation in which we find ourselves enmeshed, and sometimes trapped. Crypto is about a flight from the political community and from political responsibility.

The vision Sarah laid out for me went something like this (you have to trust me to give it the most reasonable articulation I can): Government as such tends toward tyranny. The modern nation-state has already amply manifested this tyrannical tendency. Its borders are arbitrary. It wages stupid and bloody wars. And even in liberal-democratic form, it still constricts human freedom. And the chief way it does this is by controlling the medium of exchange: money.

Wouldnt it be better, then, if each person could choose which political communities he or she wishes to join, without regard for the accident of geography and history? Assuming such a world is desirable, then the best way to bring it about is by lifting the yoke of central banking off the neck of humankind. If there were a medium of exchange not centrally governed by a few Goldman alumni, but by freethinking technologists and investors, entire new nations could emerge, free nations, where decision-making about social and economic policy would be radically consensual.

Now, heres where things got a little fuzzy for me, and I must admit the passage of time hasnt cleared anything up: How would these new emergent communities interface with actually existing governments, with their parking enforcers and nuclear arsenals, their welfare regimes and agricultural subsidies? Presumably, nation-states wont just allow themselves to wither away, even if such a thing were desirable (which it isnt). And what would become of people who were too unsophisticated or illiquid to buy into the radically consensual world?

If Sarah had any sound answers to these problems, they dissipated in the boozy haze of those days. But more recently, Ive come to (remotely) acquaint myself with one of the crypto worlds leading theorists. Like Sarah, he is super-smart, the type who makes and loses my entire annual salary in a few minutes worth of portfolio fluctuations. About once a year, he calls me to make his pitch not as an investment proposition, but a political one.

He gets that Im a social conservative. And he also gets my skepticism of market liberalism. Indeed, he shares some of my convictions. But he argues that radical decentralization achieved through cryptocurrencies offers a far more realistic path than ordinary local or national politics. The idea, again, is voluntary communities somehow untethered from the centrally controlled medium of exchange. With crypto, the liberal state, he has told me, cant get to your funds, because the algorithmic blockchain password is impossible to crack.

Or something. Again, let me assume the power of this technology and the value of crypto as an investment: Still, as a political matter, it is never quite clear to me whether these men and women imagine themselves leaving their physical communities and starting new ones where cryptocurrencies form the medium of exchange, or whether the idea is that they would stay where they are but increasingly detach themselves from the dollar, the sterling, etc.

The former option strikes me as just a techno-Benedict Option, as vulnerable as any monastic redoubt to the Waco treatment. The latter optionstay put but unplugamounts to a pseudo-gnostic gloss on the choice to invest in an unregulated financial asset. Theres also a market for level-54 wizard armor on World of Warcraft, and you may choose to transact in that market and tell yourself youre building an alternative, stateless world where the medium of exchange isnt hobbled by the pesky claims of the poor and the weak.

But if the past few years have demonstrated anything, its the centrality of materialpolitics, and I mean this quite literally: oil, gas, foodstuffs, tanks, howitzers, housing, these are the things that will make or break political projects in the 21st century, as in the 20th. If smart people in the West are chasing the virtual thrill of assets about as valuable as World of Warcraftitems, they, and we, are poised for a rude awakening.

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Bitcoin and the Rule of the Material - The American Conservative

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The conversation about money starts at home

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With inflation rising and the cost of everyday goods going up with it, your teens need to be aware of the current economic climate and be equipped for the future.

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When my parents came here from East Africa, we didnt have much money. So it was really important that we were really careful in terms of where we shopped, and how much we spent, says Alim Dhanji, a certified financial planner based in Burnaby, B.C. So it was a lot more ingrained into you [things like] dont leave the lights on, close the windows.

And I try to teach my own kids, you cant just leave the lights on because that increases our electricity usage [on] our bill or, you know, just those little tips to add to how theyre thinking.

Parents are increasingly having financial discussions with their teens who are becoming income-earners and learning how to manage their own money themselves.

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About two-thirds of parents and teens report that money is one of their most talked-about topics in the past six months second only to the pandemic according to new data from U.S. fintech company Greenlight.

Ninety-seven percent of parents also said they believe financial knowledge and skills are necessary for their kids to achieve life goals, and 93 per cent of teens agreed.

Money has traditionally been a taboo topic, and thats why it can feel uncomfortable discussing it, even among family at home, Jennifer Seitz, education content lead at Greenlight, told MoneyWise in an email.

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Its important for teens to know the personal finance basics so they can be prepared for financial independence in the future. That includes topics like planning, smart spending, saving and investing, and even credit.

The Greenlight study reported that gas prices and inflation were the biggest financial stressors for parents and teens followed by interest rates, taxes, stock market volatility and student loans.

Canadas inflation rate spiked to a 31-year-high of 6.7 per cent in March. Dhanji says parents should discuss the rising costs of everyday products and services with their teens and use real-life examples, like the cost of gas over the years.

He suggests theres an opportunity to cut back on the little things, like making your lunch at home instead of buying takeout, or taking public transit instead of purchasing a car.

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Seitz adds that many teens may also be working at a part-time or after-school job, which means they need to learn how to manage their income as well.

Dhanji teaches Dollars and Sense at elementary and high schools, and speaks at colleges and universities about financial planning. He says peer pressure and social media can play a major role in teenage spending.

When youre a teen, you just want to fit in [Try] to help them understand that they dont need the latest gadget, or name brand clothing and down the road, theyre going to be in a better financial position to do more with their money.

As teens get older, they begin thinking more about their life after graduation and are making decisions about college, careers and financial independence, says Seitz.

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Dhanji advises that teens set up a Tax-Free Savings Account (TFSA) as soon as they turn 18 and save up funds for future goals or expenses like their education.

With my son, Ive tried to ingrain that things are getting more expensive, to write your goals down, he says. And eventually, if you have enough savings, youll be able to buy a condo and start home ownership. But, savings have to start right away.

He suggests teens write down their income and expenses and use budgeting tools so that theyre conscious of how much theyre spending.

A 2021 Greenlight survey also found that 86 per cent of teens are interested in investing, but nearly half havent invested because they dont feel confident, or their parents dont know how to get them started.

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Like any potential investor, teens should know the level of risk they are comfortable with for their money, because it is possible to lose it, says Seitz. Its safer to spread money over a variety of types of investments.

Dhanji recommends teens get their financial advice from a reliable source, like FP Canada, as opposed to social media platforms like Reddit and TikTok.

I recommend starting early, doing some basic budgeting and teaching them a little bit about cost and that they have to be aware of what things cost because without having proper savings, its going to be really difficult to meet their goals.

Dhanji says you can also explain compound growth which he dubs compound coolness and investing, as well as saving money, paying your bills on time and avoiding credit card debt.

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He recommends showing teens trends in the stock market, using their favourite brands as examples.

Seitz adds that its important to be open and ready for financial questions from your teens.

Dont keep money hush hush or shy away from money questions, she says. You dont have to have all the answers to be a trusted source of advice. If you dont know, you can do a little research and learn together.

Dhanji also says parents shouldnt dont be afraid to reach out to a reliable source for help, like a certified financial planner.

At the end of the day, we want to make sure our children are responsible, good inheritors.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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How to have 'the talk' with your teens -- the money talk, that is - Calgary Herald

Oh My Girls Arin took part in celebrating Koreas Coming of Age day!

The holiday celebrating all those turning 19 years old (the age considered as becoming an adult in Korea)fell on May 16 this year. In light of this, Arin donated 20 million won (approximately $15,570) to The Beautiful Foundation, where her funds will be used to assist 18-year-old youths leaving childcare facilities on their path to financial independence.

This is the second time that Arin has supported this cause. She donated 30 million won (approximately $23,352) to the foundation last June in celebration of her birthday, responding to her fans love with a meaningful donation. Aside from this,Arin has regularly donated tohelpsenior welfare centers, elderly living alone, and vulnerable social groups.

Arin commented, I took part in giving with the hopes that becoming independent is as joyful and exciting of an event for those 18-year-old adults (campaign name) who have to become adults at a younger age as it is for the average youth celebrating this Coming of Age day.

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Oh My Girl's Arin Makes Donation In Light Of Korea's Coming Of Age Holiday - soompi

Item 2.02 Results of Operations and Financial Condition

On May 5, 2022, ICD issued a press release reporting its results of theCompany's operations for the quarter ended March 31, 2022. On May 16, 2022, ICDissued a press release announcing corrections to the earnings press release andcorrected unaudited financial results for the quarterly period ended March 31,2022. The correction relates to non-cash entries recorded to finalize thevaluation and accounting presentation of embedded features associated with theCompany's Convertible Senior Secured PIK Toggle Notes due 2026 and conformsreporting and presentation in the press release to the results and presentationas reported in the Company's Quarterly Report on Form 10-Q for the three monthsended March 31, 2022. A copy of the press release is being furnished asExhibit 99.1 hereto and is incorporated herein by reference.

The information furnished pursuant to Item 2.02, including Exhibit 99.1, shallnot be deemed "filed" for purposes of Section 18 of the Securities Exchange Actof 1934, as amended (the "Exchange Act"), is not subject to the liabilities ofthat section and is not deemed incorporated by reference in any filing of theCompany under the Exchange Act or the Securities Act of 1933, as amended, unlessspecifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

--------------------------------------------------------------------------------

Edgar Online, source Glimpses

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INDEPENDENCE CONTRACT DRILLING, INC. Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K/A) -...

PARADISE, Calif. - Volunteers and several local businesses are helping rebuild homes on the ridge with the Habitat for Humanity organization.

Around 25 volunteers were out helping build fences, sheds and irrigation around multiple homes on Saturday.

The homes built through Habitat for Humanity are built from the ground up by the organization and volunteers.

"The women's build groups this weekend are helping get these homes built and we anticipate these homes being finished sometime this summer. What they're doing is helping us to get the outside work done," Executive Director Nicole Bateman said.

Volunteers dug ditches for sprinkler systems around each home and built the sheds so families have extra storage when they move in. One woman who has worked in real estate for decades said she knows firsthand the benefits homeownership can have on a person's life.

"If we can help families get into their own homes for a sense of security, what a safe place to raise your family is to own your own home and the real first step to financial independence. I have believed in-home ownership for over 40 years, it's what I do for a living and I definitely believe in getting women heads of household and all families into their own home," Becky Prater said.

Future Habitat for Humanity owners also spend several hours building other homes in the community. Jessica Ramirez hopes to move into her new home in the next couple of months.

"You learn about each other. We're all in the same boat. We're all Camp Fire survivors. I know one of the families is living outside of Butte County but is coming back to do sweat equity hours. So yes, a good bond. And I know with these houses being so close together they'll have an even stronger bond," Ramirez said.

Some of the homes being worked on Saturday were built with a material called insulated concrete which not only helps cool the home but is also fire resistant.

Habitat for Humanity expects all three homes they're building on Gardner Ave. to be ready for move-in around June or July.

The Women's Build continues May 15 in Paradise. Several local sponsorships go toward supporting this weekends event.

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Habitat for Humanity gives back to the Ridge - Action News Now

Agile consultancy combines decades of commercial and litigation credentials with worldwide government experience including CIA and FBI, to provide deep and cutting-edge subject matter expertise, both technical and geopolitical, enabling C-suites to solve the hardest problems of the day.

NEW YORK, May 17, 2022--(BUSINESS WIRE)--Global Data Risk LLC (GDR) today announced the launch of its multidisciplinary independent consulting practice offering bespoke investigative, litigation, testimonial, cyber, economic and financial strategic expertise services to corporations, law firms, financial institutions, agencies and governments around the world. Members of the GDR investigations team are among the leading practitioners in the fields of intellectual property, strategic intelligence, cyber risk, geopolitical risk analysis, insider threat and reputational risks. Executive management includes former senior leaders from several large firms and government agencies who have provided highly specialized consulting services to organizations, companies and agencies for the past 40 years.

"Demand for independent real-time, actionable business intelligence and litigation decision-making informed by data that impacts the global business ecosystem has never been higher," said Erik Laykin, Global Data Risk, CEO and Managing Partner. "Our clients often require the investigative assistance of focused teams that combine well understood technology capabilities, regulatory and industry expertise and a real world understanding of the geo-political landscape which is embedded GDRs DNA."

GDR launches at a time when its global services and strategic partnership offerings are increasingly sought after to support the mission-critical systems of business and organizations, given that current political and macroeconomic events are presently the most powerful drivers of world markets. By example, Russias invasion of Ukraine as the largest, most dangerous military event in Europe since WWII has significantly increased the cyber threat to the West while the partial emergence of the global economy from the constraints of the coronavirus continues to generate challenges, offering fresh opportunities across financial, business, tech and science sectors. Simultaneously, domestic and cross-border strategic trade, overextended supply chains and new technology competition are driving trends and global fragmentation that demand a focus on boosting industry and institutional self-reliance, with an emphasis on the reduction of vulnerabilities and managing disruption.

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"GDR disrupts the traditional consulting firm model by primarily relying on the experience and judgment of senior level professionals, as opposed to defaulting to the standard scheme of leveraging down to teams of analysts which often only serve to drive up project costs," said John Bass, GDR president and former operational commander at the CIA. "Managing discreet high-stakes engagements across multiple continents is the norm for our teams which use agile methodologies and close, transparent collaboration. Our hallmark is independence and objectivity with an eye toward quick commercial resolution of the challenge or dispute."

GDR is composed of professionals who deploy around the world on short notice and who maintain deep local connectivity in their respective markets and industry specializations. In the information age, nimbleness contrasts with traditional consulting firms and allows for a more rapid and cost-effective application of GDRs expertise.

"Our seasoned experts understand that data which can include everything from email, databases, formulas, log files, texts, online content, source code or even satellite communications is the connective tissue of our globalized economy," added Laykin, who is considered one of the worlds leading cyber investigators. "GDR marries this technical expertise with true business subject matter mastery to provide superior value to its clients. As the result of our sound and holistic guidance on disputes, litigation and other inquiries, we resolve our clients challenges unencumbered by conflict or incentive."

ABOUT GDR

Founded in 2022 and headquartered in the historic financial core of New York City, Global Data Risk LLC (GDR) is an independent investigative consulting firm focused on risk in the information age. GDR specializes in the evaluation, protection and management of risk-facing organizations that rely on data, the life blood of the modern economy. From mitigating the impact of financial sanctions to critical M&A due diligence assignments, from opining on the internal controls of a multinational to providing winning expert testimony on a trade secret dispute, GDR is unique in that it provides unencumbered objective analysis and actionable direction for senior management at the crossroads of data driven corporate challenges.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220517005484/en/

Contacts

CJ Martinez CJ.Martinez@globaldatarisk.com +1 310 980 5431

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Global Data Risk Launches Worlds First Fully Independent Firm Specializing in High Stakes Investigations and Expert Testimony, Financial Regulatory...

From an early age, Ansa knew she had the potential to turn challenges into opportunities. Despite working long hours in the fields, her father was unable to provide properly for his wife and four children. So, she did what any other girl in her position would she quit school and started working with her father on the farm.

Ansa worked hard and with consistency. However, despite working long hours, she was unable to manage her household expenses. Matters worsened when Ansas mother and brother passed away in a road accident. As life got tougher, Ansa realised that it was time to do something more. It was taking a while for Ansa to decide what was she going to do next. Until, one fateful day, a team from FrieslandCampina Engro Pakistan Limited (FCEPL) arrived in her village and approached the local prayer leader with an idea. Around prayer time, the imam made an announcement that FCEPL was going to train villagers about cattle, how to look after farm animals and monitor their health. When she heard the announcement, she just knew that she had to go for this training.

With the goal of creating sustainable livelihoods for women as well as inclusive communities in rural Pakistan, FCEPL initiated the Enhancing Womens Income through Dairy Interventions (EWID) project in 2019. This was just the opportunity that she was looking for and jumped at the opportunity to learn about cattle. The team trained Ansa and other interested villagers for three months, following which they set up a camp in the village and asked farmers to bring their animals over for a check-up.

The camp was an eye-opener for me, shares Ansa. I saw the team at work and observed what they did. I also managed to assist them in some cases. As a result of this exercise, the villagers and farmers started trusting me and my work. Now, they bring their animals to my place for consultations.

This three-month course was a game-changer for Ansa and she was glad that she is able to give back to her community as well. People in my village respect me so much. The experience has been excellent. Several farmers have benefitted from my preventive and nutrition services.

Ansa also believes that the trust and appreciation that she receives from the villagers has encouraged her to do even more than this. The response had been so positive and overwhelming that I have managed to set up my own extension services. The training has empowered me to aim for bigger and better things.

Like a snowball effect, Ansas sister Aqsa followed in her older siblings footsteps. While she was still grieving her mother and brother, Aqsa realised that she had to share the financial burden with her sister as well. While Ansa was working outside the house, Aqsa decided to quit school and help out at home. Aqsa already knew about the training her sister had received but she wanted to do something different.

The team taught her all about procuring milk and this is how Aqsa became the first woman to be a Milk Collection Agent. Then, she shared all the information with others interested in becoming agents and soon, she started her own business.

To help Aqsa and women like her, the team also set up a milk chilling facility, which has helped increased income levels. Earlier, a large quantity of milk would go to waste because of unavailability of a cold storage facility which would impact the supply and demand chain.

However, it was difficult to get the business off the ground. She faced several problems. For example, it took time to get milk from one place to another and she had no way to do it. To get on top of the situation, Aqsa decided that she would learn how to ride a motorcycle. While this made her job easier, the villagers were not accepting to the idea. However, Aqsa was determined and she wanted to work. This was the only way she could do it, and so she went ahead with her mission to break this bias.

Eventually, the villagers got used to seeing her going around on her bike and appreciated the good job she was doing. I was adamant to make this work and slowly the criticism stopped. Soon enough, I started noticing many other girls in the village riding on motorcycles. It made me happy to see the girls going to school, completing their education, and gaining good employment, enthuses Aqsa.

In a small village like Vehari, these two sisters were not only able to defy rigid stereotypes that are deeply rooted in a patriarchal society, but they also paved way for other girls as well. With their hard work and availing the opportunities they found, Aqsa and Ansa became role models for their success, financial independence and confidence.

Tehmina Majid is one such young woman who was inspired by these two sisters. Six years ago, Tehminas life turned upside down when her father passed away. At the time, he was the breadwinner of the family. Unfortunately, a few months after her fathers untimely death, her mother had a heart attack and was severely ill afterwards. This meant that she could not work in the fields anymore but as the eldest sibling, Tehmina was now responsible to put food on the table. Things were getting worse. Tehmina had to drop out of eighth grade to find a full-time job to support her mother and seven siblings and manage the household as well. Looking for work, Tehmina landed a job at a vegetable farm for Rs 6,000, which was below minimum wage. The job was tough but she worked tirelessly from 6 a.m. till late in the evening every day. Seeing her work such long hours and struggling to manage her home, the head of the village discussed her situation with the FCEPL team and recommended that they meet her.

After their first meeting, the team offered Tehmina to train her in livestock extension services. For a month, Tehmina received gruelling training on preventive measures, first aid and nutrition of livestock. To encourage and motivate her to attend training, the company organised a pick and drop transport service for her. Every morning, she was picked up from her residence and dropped off at the training facility a dairy farm on Khanewal Road. At the end of the day, she was dropped back home.

As a part of the learning process, Tehmina had started visiting nearby villages and farms and would talk to farmers about their cattle and illnesses. After completing the month-long training, Tehmina was given a veterinary tool kit and told that she could start work on disease prevention, deworming and nutrition of community animals. With her hard work and dedication, she quickly became popular. Her work encouraged people from different villages and surrounding areas to reach out to her for help. This training gave me courage, confidence and financial independence. The dark days now look brighter. Had my father been alive, he would have been proud to see what I have become, she enthuses.

There are many rural communities in Pakistan that are struggling to make ends meet. And while it can be easier to send out donations and set up temporary help projects, these projects are much more detrimental to a community. To help a community grow, initiatives should ensure that these communities can survive on their own and have a sustainable livelihood. FCEPLs initiative is all about providing long-term benefits in the form of higher yields, employment opportunities for women and a boost to rural economy. The company has trained 8,200+ female farmers, including 3,000+ female farmers and milk collection agents under the Enhancing Womens Income through Dairy (EWID) initiative of the Dairy Development Programme (DDP). Trainings under DDP and EWID include best practices for dairy farming, animal health, milk hygiene and collection, quality testing, farm economics, and calf rearing, among other trainings for capacity-building and capability-building. These trainings have helped improve the quantity and quality of milk collected. The beneficiaries are equipped with veterinary toolkits to start their own shop, offering livestock extension services, and improving resilience of farmers to climatic and economic shocks.

Empowering female farmers and agripreneurs through dairy interventions and ensuring inclusive growth and profitability, are key pillars of the companys sustainability strategy. My financial independence and work gave me the opportunity to send my younger siblings to school. My younger brother is now employed, my mother is also doing much better now and things are looking up, shares Tehmina. When asked about what she wants to do next, Tehmina did not hesitate to reply, To learn more.

The writer can be reached at

rajakamran5@gmail.com

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The brave women of Vehari - The News International