Category Archives: Financial Independence

Want to build generational wealth? Education is key, financial experts say. Money shouldn't be a taboo topic for families of color anymore, they add, so communication is vital, too.

We asked eight Latino financial professionals for their advice on how to grow wealth, talk to children about finances and start a business even amid rising inflation.

Responses have been edited for length and clarity.

Build wealth by investing

Nora Dvila

The median net worth of a Hispanic family is $36,050, according to the 2019 Survey of Consumer Finances, the latest data available. That's five times less than the median net worth of a non-Hispanic white household, which is $189,100.

To grow your net worth, consider buying assets, paying off debts, building your credit history and credit score and investing in the stock market, said Nora Dvila, founder of Inversionista Gal, a Spanish-language financial education platform. You can also invest in your retirement plan, especially if there are tax incentives and your employer offers a company match.

Delyanne Barros

Delyanne Barros, known as Delyanne the Money Coach, also recommends investing in the stock market. Thats one of the best ways to build life-changing and generational wealth, she said.

Many Latinos will focus their efforts on building a business or buying a home, but the stock market is a powerful and passive way to supplement their wealth. Latinos are incredibly hard-working, and they assume that they will continue to work indefinitely. But that is actually quite an expensive gamble.

Businesses can underperform or fail. People can get sick or become disabled. By investing slowly and consistently, Latinos can build a safety net that doesnt require them to trade more time for money.

Investing just $50 to $100 a month in a simple index fund can create life-changing wealth for you and your family.

Yanely Espinal

It takes at least one decade to accrue wealth, and building generational wealth takes longer, said Yanely Espinal, a financial educator and the creator of MissBeHelpful on YouTube and Instagram.

For Latino families with an average amount of net worth, it will be best to do it poco a poco, or little by little, over a long period of time, she said.

Examples from my own family include opening a custodial investment account for my nephew as an infant and setting up an automatic weekly contribution. Just $25 per week for 25 years will be about $112,000. This can be used to fund a down payment on real estate or start a business.

My absolute favorite account for average income earners is the Roth IRA, which has no minimum required distributions at any age and is funded with after-tax dollars. This means a parent can pass down their Roth IRA account to a child tax-free by naming them as the beneficiary! Minors with earned income can have a custodial Roth IRA account as well.

Leverage your earning power

Jannese Torres

Of course, how much you can invest depends a lot on how much you earn.

Jannese Torres, the founder of the Yo Quiero Dinero podcast, said that if you want to build wealth and youre living paycheck to paycheck, you have to learn how to earn more.

Much of what I learned about money growing up revolved around cutting back, shopping on sale and delaying gratification, she said.

I would encourage you to find ways to increase your income by switching careers, job-hopping, negotiating your salary and, most importantly, by monetizing your skills outside of a corporate job. The government and corporate America isnt doing enough to bridge the wage and wealth gap that is keeping us from building wealth. And we cannot afford to wait for them to prioritize this issue, she said.

Taking your earning power into your own hands is a powerful shift that we must make if we are going to make progress as a community. In order to build wealth, we must embody wealth. That starts with investing in the most powerful resource that no one can ever take from you: knowledge.

Educate yourself and your kids about money

Financial education is vital, said Dvila, the Inversionista Gal founder.

Many Latino families dont like to talk about money and historically havent had access to the tools needed to build wealth, she said, but its time to start talking and learning.

If you dont know the difference between an asset and a depreciating asset, how are you going to buy things to grow your net worth? It is important to know the difference. An asset is something that grows, and debt is something that depreciates.

Cindy Zuniga-Sanchez

Cindy Zuniga-Sanchez, the founder of Zero-Based Budget Coaching, is also big on making personal finance a dinner-table topic.

The best way to combat the common narrative prevalent in communities of color that money conversations are taboo or rude is for parents to openly talk about money with their children, she said.

First, teach children how to budget or make a plan for their money, such as allowance, monetary gifts and/or money earned from their summer job, she said.

Parents can give their children three jars for their money labeled give, save and spend. Together, they can determine how to allocate any funds received.

Zuniga-Sanchez also suggests involving children in shopping trips.

Make trips to the grocery store a learning experience. As you walk through the aisles, distinguish between needs and wants, use a calculator to add up totals and identify any coupons or opportunities for discounts. Allow your child to pay at the register, preferably with cash for a tangible and visual element.

Carmen Perez

And it doesnt matter if youre not an expert with your own finances, said Carmen Perez, the creator of the Make Real Cents personal finance blog. You and your child can learn together, she said. Start money conversations early and often.

Gradually, the conversations need to grow in complexity, so by the time the child is in high school, they thoroughly understand the concepts of things like the different types of credit, debt, taxes, savings, investing and so on at a high level. Introducing these concepts over and over again and making them as practical as possible as early as possible will help them feel tangible and really stick with a child.

She also suggests parents contribute to 529 college savings accounts for children and give stock in place of one toy for birthdays or holidays.

Avoid entrepreneurial pitfalls

Education is necessary for new and aspiring entrepreneurs, too, said Louis Barajas, a longtime certified financial planner and author whos also a business manager for Latino-owned businesses.

Louis Barajas

In the past five years, 1 in 200 Latinos have launched a business each month, according to a 2021 McKinsey report, The economic state of Latinos in America. Thats more than any other racial or ethnic group in the U.S.

But those entrepreneurs should be aware of pitfalls, Barajas said.

Just because they have a special skill or product doesnt mean that they know how to turn it into a business. A business entails more than selling a service or a product; it means that you need to know human resources, accounting/finances, legal and compliance, etc., he said.

The second biggest trap that new entrepreneurs face is over-exuberance and self-confidence in the financial sustainability of their new enterprise.

The best solution for these two traps is taking business courses through the Small Business Administration or local community school or reading books on small business before they launch.

And its certainly fine to get excited about starting that new business, but remember to think holistically, said Luis F. Rosa, a certified financial planner.

Luis F. Rosa

I have worked with clients that were doing great in their business, yet on their personal side, they dont have a structured budget, fail to invest for their retirement, dont have life insurance and even fail to ensure they are paying adequate estimated taxes to the IRS and/or their state during the year.

Aside from having an accountant or bookkeeper that helps them on their business, I highly recommend finding a financial planner to ensure that their personal finances do not get neglected.

In addition to neglecting their personal finances, oftentimes small-business owners also neglect their personal health and relationships, Rosa said.

He said he tells entrepreneurs to download a meditation app and block out time on their calendars for exercise and spending time with loved ones.

Make sure to respect the appointment you made for yourself, just as much as you would an appointment you made for your business.

More about the pros

Barajas is a certified financial planner and the author of five books on personal finance and entrepreneurship. He is on the National CFP Board and is a financial coach for an upcoming series on PBS called Opportunity Knocks. Barajas is also on CNBCs Advisor Council. He frequently speaks across the country on issues of overcoming economic disparity. LinkedIn: Louis Barajas, MBA, CEPA, CFP, EA

Barros is the host of the Diversifying podcast on CNN. Like many people, she found herself confused and frustrated when it came to managing money. She had racked up $150,000 of student loan debt and barely understood her 401(k). In 2020, she became debt-free and launched Delyanne the Money Coach LLC to help others build generational wealth. Instagram: @delyannethemoneycoach

Dvila is the founder of Inversionista Gal, an educational platform in Spanish to teach others how to become investors and reach financial independence. She is the host of the Inversionista Gal podcast and is a certified financial educator instructor. Instagram: @Inversionista_gal

Espinal is the creator of MissBeHelpful on YouTube and Instagram. After paying off $20,000 of credit card debt, she pivoted into financial education and is now the director of educational outreach at NGPF.org, a nonprofit serving high school and middle school teachers. Instagram: @MissBeHelpful

Rosa, a CFP and enrolled agent, is the creator and host of the On My Way to Wealth podcast. Hes also the founder of Build a Better Financial Future LLC, a fee-only financial planning and investment management firm working remotely with clients across the country. Instagram: @luis_f_rosa

Perez is the creator of Make Real Cents and is the founder of the social budgeting platform Much (usemuch.com). She has a bachelor's degree in finance and loves to talk about all things personal finance when she isn't working on building her company. Instagram: @makerealcents

Torres is the creator and host of the award-winning podcast Yo Quiero Dinero (I Want Money). Each week, she dishes out shame-free, POC-friendly personal finance advice, always served with a side of sass. Shes a former engineer who used side hustles to reach financial independence at age 35. Twitter: @DineroPodcast

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8 Latino Financial Pros on Building Wealth and Knowledge in 2022 - NerdWallet

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A registered agent is a person or agency that will help you keep your business out of legal trouble, and all 50 states require one in order to start a business.

The biggest thing to ensure is that the registered agent you choose is legitimate, says Natalie Bullen, a financial advisor and CEO of Unapologetic Wealth Management. Every state is different regarding the requirements for a registered agent and what a registered agent can do. The responsibilities vary. You want to ensure youre dealing with a legitimate business by checking them out on the Better Business Bureau to ensure theyve got appropriate licenses for this type of work.

Your two options are to either be your own registered agent or hire an agency or business that offers a professional registered agent service. Many virtual mailbox services, such as iPostal1, Anytime Mailbox, and others, also provide registered agent services. Choosing the best representation for your business is important, as your registered agent is publicly listed on your official documents filed with the Secretary of State.

Heres what you need to know about the responsibilities of a registered agent, how to choose a registered agent for your business, and advice from business owners and financial professionals on what you need to consider.

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A registered agent is an individual or entity appointed by a limited liability company (LLC) or corporation to receive service of process, official mail, compliance documents, and legal notices on behalf of small business owners. A registered agent signs for and receives these documents.

The registered agent lets you know when documents are received, and can open or scan your mail on your behalf and send it to you. A registered agents main job is to ensure your business complies with state and federal laws by keeping you informed and filing annual reports.

Think of a registered agent as the gatekeeper for your business, which is why its essential to choose wisely.

Every state designates that business entities, such as LLCs and corporations, must name a registered agent to receive communications and other legal documents on behalf of the business.

You can be your own registered agent. Professional registered agents also keep copies of your official documents. In case of theft, natural disaster, or other unexpected losses, you will have a backup for all your business and legal documents.

You cant register a business without first having a named registered agent. For most states, not having a registered agent means losing your certificate of good standing. Losing your certificate of good standing with the state your business is registered in could mean losing legal protections.

Not having a registered agent also means no one available to accept legal documents, such as lawsuits, which could lead to untold financial and legal consequences. You could have a judgment against your business without your knowledge.

In most states, you can be your own registered agent. You can also hire a registered agent service to handle the role on your businesss behalf. However, there are some requirements.

In most states, you can be your registered agent, which means your name will go on the public record. Registered agents also have to keep regular business hours at your registered address, so its important to realize that if youre thinking about becoming your own registered agent.

In most states, a registered agent will need to list their name and address on the public record and keep regular business hours. Think about that when deciding who your registered agent will be.

I registered an LLC in Minnesota and chose to be my own registered agent, says Julio Molina, an entrepreneur and motivational speaker. The process of becoming my own registered agent was pretty straightforward.

Yes, your spouse can be your registered agent if they meet all the criteria required by the state where your business is registered. But you may want to consider whether they are the right person for the job, considering that their physical address will be listed on the public record.

A registered agent service is a professional organization or agency offering assistance as your official registered agent, and is the person available to receive legal documents and correspondence. These services can range from virtual mailboxes to lawyers and agents to guide services such as LegalZoom.

When I registered my LLC in Philadelphia, I handled the business formation myself and became my own registered agent, DeAngelo McCoy, a life coach and personal trainer. Its a personal decision as to whether or not youll be your own registered agent. Think about how comfortable you are with having your information be public.

You can hire an entity or service to be your registered agent or be your own, but its good to consider the pros and cons.

A registered agent service handles all the paperwork. You may not know the ins and outs of paperwork, but a registered agent service could.

The registered agent services name and address are listed on the public record, offering you privacy.

The registered agent service is experienced with processes and can guide you accordingly.

It could cost between $100 and $300 per year to hire a registered agent service.

If you hire the wrong service, your business could have major legal and financial consequences.

If you try to cut corners and use an inexperienced provider, you may miss important documents or other correspondence.

One other consideration is the size of your business. You may have a business registered in one state but have employees and operate in other states. You may need to hire a registered agent service to accommodate that.

I registered an LLC in Georgia and chose to become my own registered agent, says Maleeka Hollaway, who owns a brand communication and PR agency. When I started my business, I didnt know I had an option. I didnt understand my options until I started looking into expanding to another state and learned I would need someone there to get the paperwork.

If you desire to be your own registered agent, here are the steps.

When I registered my business in Washington, DC., I chose to be my own registered agent even though I have an accountant, says Isi Aladejobi, an entrepreneur who owns a career coaching consultancy. One thing to think about is if youre not strong with paperwork, deadlines, or organization, it might be worth it to hire someone trustworthy to help you out.

There is no cost if you choose to be your own registered agent. If you hire a service, typical costs can range from $100 to $300 a year.

The exact process varies from state to state, but yes, you can change the registered agent for your LLC.

If you want to change your registered agent, you must file a Change of Registered Agent form with the state where the business is registered. Most states provide downloadable forms online on the Secretary of States website. You can also request those forms in person.

Your state will require a change registered agent form and a form showing your new registered agent consents to being designated. Fill out and sign the forms, and your registered agent will have to do the same.

Once youve completed the forms, file them. Some states offer online filing, but you can also file the necessary documents by mail or in person. Check the exact requirements with the state where your business is registered.

There are several types of registered agents and definitions in the registered ecosystem. Here are the types and their functions.

A statutory agent or resident agent is another name for a registered agent. A statutory or resident agent is an individual or entity appointed by an LLC, S Corporation, C Corporation, or other legal business entity to accept legal documents, correspondence, and compliance paperwork. All states (other than New York) require business entities to officially designate a statutory or resident agent.

A commercial registered agent is an individual or entity that has filed a special listing statement with their states corporation authority. They are a type of registered agent that is a businesss legally designated recipient for service of process. Twelve states distinguish between a commercial registered agent and a noncommercial registered agent.

Commercial registered agents represent hundreds or thousands of companies and can inform the state what companies it represents and file bulk address changes.

Noncommercial agents are individuals or entities that have not filed a listing statement with the Secretary of State. Individuals and many single-state registered agent companies fall under a noncommercial registered agent category and only operate in one or a handful of states.

Service of process refers to the procedure for which a party to a lawsuit gives an appropriate notice of legal action. Its when you are going to be sued, and the paperwork needs to be delivered to you. A registered agent is a person that handles the service of process.

National or USA registered refers to a national registered agent service that works in all 50 states. Theres no such thing as a national registered agent because registered agents must be local, so a national registered agent is a team of registered agents, with one in every state.

BOC-3 process agent refers to a representative and form that designates an agent for service of process for freight brokers.

There are no free registered agent services. The only option for a free registered agent is if you decide to become your own.

Choosing the right registered agent or service is important for your business. Use this guide to decide the best option that aligns with your goals. Building a business with the right registered agent is a great way to create financial independence.

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What Is a Registered Agent? - NextAdvisor

Startling success for clients is deemed largely responsible for the impressive start of their new program launched earlier this year.

September 21, 2022 Boston, MA Since launching in 2014, Replace Your University has helped thousands of clients successfully pay off their home early resulting in an average savings of almost $200,000. The companys latest program, Replace Your Employer helps clients via an assembled dream team of expert investors to help them learn the process of real estate investing in real time. The CEO of the Replace Your Employer Division, Edmund Fontana, stated the goal of this program is to provide individuals with all the tools they need to succeed in their own real estate investment business. He also believes that this will be a major step in helping people take control of their lives and achieve financial independence.

Replace Your University started in 2014 when Michael Lush used an ingenious strategy to accelerate the payoff of his mortgage in 3.5 years, resulting in eventually sharing the strategy with others. Since then, the company has grown exponentially largely due to the incredible success clients consistently achieve. With most clients being referrals, it is clear the strategy is effective. Recently, the company was recognized as the #3 mover and shaker in the financial education industry.

Company culture is more important than ever before. In a world where technology is constantly evolving and jobs are constantly changing, its essential that companies find ways to help employees evolve and grow as well. Thats where Replace Your University has figured out the formula and treats their team as a family and focuses on having a healthy work/life balance and not just revenue at all costs. The culture shift is designed to create a more collaborative and engaging work environment for employees.

As the CEO of Replace Your University, Michael Lush, stated, We created a sales environment that is customer centric while still honoring our hyper-growth initiatives and desire to rapidly acquire additional market share. This process required our sales team to dig deep into additional training and refine their skill set. Then we implemented an industry leading consultative sales process focused only on what is best for the client while sharing our entire catalog of products.

The team at Replace Your University is excited to continue moving forward and are looking forward to changing more lives in meaningful ways. With each of the executives believing deeply in Christian principles, charity, and service to the community, they have found this to be one way to take their expertise and help thousands of people move forward in their financial lives. Their vision is to ultimately enable more families to have more financial resources, so they can help serve their communities as well.

Replace Your University has built a solid foundation in the financial education industry. The evolution from a startup to an established company has further helped them make significant improvements in every part of the company. This recent development is expected to take the company to a greater height in the financial education sector.

You can learn more about Replace Your University by going to their website replaceyouruniversity.com. Replace Your Mortgage does not offer mortgages, Helocs, or loans of any kind. Replace Your Mortgage is not a bank and does not provide credit offers. Replace Your Mortgage is strictly for educational and informational purposes only.

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Media ContactCompany Name: Amplified AuthorityContact Person: Chris B.Email: Send EmailCountry: United StatesWebsite: http://www.AmplifiedAuthority.com

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Financial Education Company, Replace Your University, on a Roll After Rapid Growth & Success of Their Latest Program 'Replace Your Employer' -...

In 2018, a young entrepreneur from Jaipur, registered a business selling beeswax candles. She worked with tribal women artisans from marginalised village communities across India to create safe, sustainable products. In just a few years, she has grown her business manifold and helped generate livelihood opportunities for over 800 women.

Meanwhile, another entrepreneur from Maharashtra was trying to make her mark. Coming from a community where women didnt work, she convinced her husband to let her become a part of their family business. Today, she is at the helm, and her business of making statues has grown internationally. Taking this step changed her role in her own family, empowering other women in the community to seek financial independence.

Women entrepreneurs are a catalyst of change in Indian communities becoming role models, creating opportunities, and uplifting the societies they operate in.

More than an economic growth story

Undoubtedly, women entrepreneurs are a vital part of Indias growth. According to a report by Google and Bain & Company, there are 13.515.7 million women-owned enterprises in India, representing 20% of all Indian enterprises. The World Economic Forum considers empowering womens entrepreneurship as key to economic recovery. But women-owned businesses are more than just contributors to GDP. Womens unique role in the community, the family structure and in child-rearing makes them critical agents of change. They contribute significantly to economic development and poverty reduction and empowerment of people and communities around them by changing social mindsets, breaking biases, and creating more collaborative and less discriminatory workplace cultures.

Today women entrepreneurs in India are shaping and changing the future of communities by:

Investing in the future of India

Despite their potential to catalyse economic and social growth, women entrepreneurs in India are fighting an uphill battle. They struggle with social constructs, biases, and an ecosystem that is heavily skewed in favour of their male counterparts. There is an urgent need to invest in creating supportive ecosystems and to bring together allies who can together catalyse women entrepreneurship in India.

Views expressed above are the author's own.

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Women entrepreneurs: The key to uplifting communities in India - Times of India

Queen Elizabeth was "very hurt" when Prince Harry and Meghan, Duchess of Sussex stepped down from royal duties.

The couple tied the knot in 2018 but made the decision to quit royal life in 2020 in favour of a life in Los Angeles but were not allowed to use their HRH titles as they sought financial independence and now a royal expert has claimed that Harry's grandmother and Her Late Majesty - who died at the age of 96 on September 8 following a 70-year-reign - wanted to refrain from even thinking about the move.

In an excerpt from her new book 'The New Royals: Queen Elizabeths Legacy and the Future of the Crown', shared with Variety, Katie Nichols writes: "The Queen made it clear that if Harry and Meghan chose to leave, they could not reap the benefits of being royal. And according to a friend, privately the queen confided that she was exhausted by the turmoil of their decision. She was very hurt and told me, I dont know, I dont care, and I dont want to think about it anymore!'"

Prince Harry and the Duchess were already parents to Archie, three, when they quit the Royal Family and welcomed Lilibet, 15 months, after they had relocated and the royal expert went on to claim that it was a "source of sadness" that the Queen saw "so little" of her youngest great-grandchildren towards the end of her life.

She added: "But it was a source of sadness to the Queen that she got to see so little of Archie and Lilibet and that Harry and Meghan were not able to join her for a weekend at Balmoral in August, when the queen used to host a 'sleepover' for all of her grandchildren and great-grandchildren."

Katie also added that King Charles - who acceded to the throne the moment his mother passed and left his eldest son Prince William as heir apparent to the throne - is also "hurt and disappointed " with the situation regarding Harry and the former 'Suits' actress but insisted that the monarch's love for his youngest son is "unconditional."

She added: "He is hurt and disappointed but he has always said his love for Harry is unconditional."

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Queen Elizabeth was 'very hurt' when Harry and Meghan quit the royal life - leader-call.com

HARLEM, N.Y., Sept. 22, 2022 (GLOBE NEWSWIRE) -- Esusu, the leading financial technology company leveraging rent reporting for credit building, and Campus Apartments, one of the nation's largest providers of on- and off-campus student housing, announced today a new partnership to make Esusu's rent reporting platform available to Campus Apartments' full portfolio. Esusu reports on-time rent payments to the three major credit bureaus (Equifax, Transunion, and Experian) to establish and boost credit scores for residents.

The partnership will help students living in Campus Apartments' housing properties establish a financial identity and forge the path to a strong financial future. Campus Apartments partnered with Esusu to provide rent reporting access at no cost to students, who can leverage the platform's automatic 24-month look-back feature to immediately establish or see improvements to their credit scores, given that on-time rental payments are a key indicator of financial stability. The credit-improvement benefits can be shared with up to seven individuals, which enables all roommates to improve their financial health.

"Esusu and Campus Apartments are providing access to credit and wealth-building opportunities for thousands of students across the country who have previously had limited options to build credit and establish their financial footprint," said Wemimo Abbey and Samir Goel, Co-Founders and Co-CEOs of Esusu. "This partnership is designed to create a financially-stable entry point to credit building for students. Our goal is for every student to graduate with a degree in one hand and a great credit score in the other."

For over six decades, Campus Apartments has offered a higher standard of living and differentiated amenities that appeal to students and parents alike. Implementing Esusu's rent reporting platform will enable Campus Apartments to continue strengthening its commitment to students. Although Gen Z (ages 18-24) Americans are money and credit-conscious, a 2021 Experian study showed that the average FICO score for Gen Z was 679, while the national score was 714. Historically, this age demographic has had limited opportunities to build credit in a responsible manner, which this partnership is designed to elevate.

The implementation of the CARD Act (Credit Card Accountability, Responsibility and Disclosure Act) in 2009 has made it difficult for students to obtain credit cards, the easiest entry point to building credit. While this law protects students from making poor financial decisions, it calls out the need to have alternative ways for students to establish their credit scores especially for those who do not have a co-signer available to them. For those that do have a co-signer or rent paid by a supportive source, the student who resides in the unit still benefits from rental payments being recorded on their credit file. Rent reporting allows students who cannot easily access a credit line the possibility to establish and build credit with a routine monthly rental payment a major key to long-term financial success.

"Esusu's inspiring mission and innovative approach to helping students build their credit profile makes for a natural partnership with Campus Apartments, a company that prides itself in delivering solutions that create positive impact all around,'' said Daniel I. Bernstein, President, and Chief Investment Officer of Campus Apartments. "We are proud to demonstrate market leadership and provide a meaningful amenity that aims to enhance each phase of a student's journey. We're excited to begin seeing the positive impacts it has on students, their families, and their financial futures, across the country."

Campus Apartments and Esusu share in their commitment to offering innovative amenities aimed to improve resident wellbeing. In addition to earning credit improvement, students will have access to the Esusu Renters Marketplace, where they have the opportunity to access other financial literacy and credit education courses to help support their path to financial independence and success.

About EsusuEsusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu's rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the U.S. Learn more at http://www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.

About Campus ApartmentsFounded in 1958, Campus Apartments is one of the nation's largest providers of on- and off-campus student housing. As a vertically integrated firm, Campus Apartments is experienced in all facets of the student housing industry. The company has over $2 billion in assets under management in 18 states, serving more than 50 colleges and universities. For more information, visit: http://www.campusapts.com and connect with Campus Apartments on Twitter and Facebook.

Press Contact:Edna CamposSGPR on behalf of Esusuedna.campos@smallgirlspr.com

Deepika CicoriaBrownstein Group/Red Thread PR on behalf of Campus ApartmentsDeepika@redthreadpr.com

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Esusu and Campus Apartments Partner to Advance Wealth-Building Opportunities for Students - Benzinga

A patriarchal mindset still runs deep in Turkish society, as experts point out that divorced women are often at risk of exclusion from society. A deeply entrenched saying, you leave parents home in bridal dress and only return there in a shroud, lingers in most places, Dr. Zehra Zeynep Sadkolu, a sociology expert from the Istanbul University, says.

Divorces are on the rise in the country and official figures show they increased to 174,085 in 2021, from 136,570 in 2020, according to the Turkish Statistical Institute (TurkStat). More than 33% of divorces occurred within the first five years of marriage, while the majority of divorces ended up with childrens custody handed to mothers.

Studies show divorces often push women to the fringes of society, experts say, putting more social pressure on them and, sometimes, discrimination.

Sadkolu told Anadolu Agency (AA) on Thursday that despite regional differences, divorced women without financial independence tend to keep a low profile to avert social pressure. In some places, women have to fight more against prejudice. In some cases, they are even viewed as a threat by other women, she says, pointing out the warped mindset that widows or divorced women may seduce married men. They prefer isolating themselves from society because of the pressure, are more careful about their manners, what they dress and shun social events. They tend not to go home in late hours.

Women without economic security and low education levels mostly choose to be invisible, she added. She says challenges are more for single mothers. They face pressure like prejudice over their lack of care for their children (if they seek to socialize without the presence of their children).

However, she acknowledges that divorces have been more tolerable recently. Yet, although divorce is no longer a matter staining honor in some places, mothers seeking divorce are forced to continue their marriage by social pressure which tells them that they have to continue the marriage for the sake of their children, Sadkolu says. Women, anyway, have more difficulty making up their minds on divorce compared to men. They are afraid of losing their economic means and reaction from their social environment, she says. Rate of womens participation in the workforce is around 30% and women often can have social security only through their husbands or fathers. So, divorce means economic insecurity for them, she added.

Lawyer Fatma Bakrc says divorce rates increased especially after the COVID-19 pandemic and women were now less tolerant toward problems stemming from their marriage. Women with economic independence often make up their minds for divorce easier. If women are dependent on their husbands, they even tolerate domestic abuse and avert divorcing, because they have no other option, she said.

Bakrc also blames husbands in some divorces for threatening women by obtaining sole custody of their children. Women are afraid of losing their children the most, she says. She also points out to lengthy divorce process, which can take up to five years in difficult cases, although divorces are finalized in just one hearing if both sides agree.

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When you are starting a business, investing in real estate ventures, or engaging in other commercial activity in Pennsylvania, it is a good idea to consider forming a limited liability company (LLC).

LLC is the way to go, and the most common business [structure] thats currently formed, says Jacob Cohen, owner of Jacob Cohen & Company, CPAs, a Philadelphia-based certified public accountant firm serving individuals and business owners. Its flexible, and you can elect for it to be taxed as a partnership.

An LLC is a hybrid between a corporation and a partnership. As such, an LLC provides the liability protection of a corporation, with the advantage of being taxed as a partnership. Generally, this means that a Pennsylvania LLC shields you from personal liability arising from your business activities. At the same time, it provides you with pass-through tax treatment on the profits and losses from your business. Basically, youll avoid being taxed twice, as a business and as an individual.You can incorporate your LLC yourself, hire a lawyer to guide you through the process, or use an online service like LegalZoom to register your business quickly.

We interviewed Pennsylvania-based experts on their experience with registering for an LLC in the Keystone State. These are the steps involved in setting up your LLC in Pennsylvania, as outlined below.

Pennsylvania requires that every LLC operating in the state have a unique name. You can conduct a search at the Pennsylvania Department of State website to see if your proposed name is available. The name of your LLC must contain the words Company, Limited, or Limited Liability Company, or either the abbreviation L.L.C. or LLC.

There are certain restrictions to choosing a company name. It cannot reference a governmental agency , such as the FBI, the State Department, or the United States Treasury. It also cannot indicate a fiduciary relationship if one doesnt exist (trust, trustee, fiduciary). It also cannot include a non-associated financial institution or professional services firm, such as a bank, law firm, or medical practice.

Licensed professionals in Pennsylvania, such as doctors, lawyers and therapists, have different company formation requirements. They must form what is called a restricted professional company. You can check to see if your industry is considered to provide restricted professional services by reviewing the Pennsylvania Statement of Policy.

If your proposed name is available, you may reserve it for up to 120 days for a fee of $70 by filing a Name Reservation request form online or mailing in the form.

In choosing your LLC name, you will want to consider the following:

The legal name of your LLC does not have to be the same as the name you use to operate your business, as you can use a doing business as (DBA) name or trade name. For this reason, it is important to conduct a trademark search for your DBA or trade name to ensure that no one else has already obtained a trademark for your proposed trade name. If you choose to operate under a DBA or trade name, you still need to follow the same LLC naming conventions for your Pennsylvania LLC and also register your fictitious name (DBA) with the Pennsylvania Department of State. A DBA is a commercial name and is not a legal entity. Therefore, if you use a DBA, you still need to form an LLC to provide liability protection for your personal assets.

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When you are completing the Pennsylvania LLC form, you will be asked to list a registered agent for your company. A registered agent will be your businesss main point of contact with the state. This person will accept all state paperwork, including all legal documents, tax statements, lawsuit notices, court orders, and government correspondence.

Related: What Is a Registered Agent?

The registered agents name and address must be made visible to the public for anyone who needs to contact your business. This address must be a physical location and not a post office box. The registered agent must be accessible during normal business hours. You can designate yourself or someone else or a Pennsylvania-based company (e.g. registered agent service) to be the registered agent.

If you are always busy and difficult to reach, and you dont have anyone that you feel comfortable with for this role, you can use a registered agent service. There are commercial providers who can serve as your registered agent for a fee (generally about $100-$200 per year). One benefit of using a commercial service is the greater likelihood that your business is in receipt of all legal documents, thus avoiding noncompliance with state regulation deadlines.

The next step in forming an LLC in Pennsylvania is to complete and file a Certificate of Organization for Limited Liability Company with the Pennsylvania Department of State. The Certificate of Organization is a document that lays out basic information about your business and officially establishes your authority to operate as an LLC in Pennsylvania.

To complete the Certificate of Organization, you will need to provide the following information:

One important item you will need to determine when completing the Certificate of Organization is whether your LLC will be member-managed or manager-managed. In LLCs, the LLC owners are called members. Many LLCs are member-managed, as they are usually owned by one or just a few members. If you dont have the time or inclination to manage your business on a daily basis, you can appoint another member to serve as manager, or you can hire an outside manager.

You want to always select manager-managed [on the form], says Sekou Campbell, partner and transactional attorney at the Philadelphia office of Culhane Meadows PLLC, a corporate and commercial law firm. [Then] you have the option of either having a member manage it, or [having] a manager or someone who is not a member manage the LLC, Campbell explains. You can have a manager who is a non-owner of your LLC manage it.

Along with the Certificate of Organization, you will also need to include a Docketing Statement. The Docketing Statement requires your LLCs employer identification number (EIN), fiscal year, and other details. You can mail in the Certificate of Organization and Docketing Statement, or you can file them online for faster processing. The filing fee for the Certificate of Organization is $125, and there is no fee for the docketing statement. Since most LLCs do not have an EIN until after filing, this does not need to be provided on the docketing statement at the time of filing. It can be provided when you receive your EIN.

If your certificate is approved, youll receive a copy of the filed certificate in the mail. If the state rejects your certificate for some reason, the Department of State will identify the issue, and you will have an opportunity to make corrections and refile.

An operating agreement is an agreement among the members of the LLC that details how the LLC will be managed and operated. Even if you are a single-member LLC, it is important to have an operating agreement, as the management structure may change over time, especially if your business grows quickly.

Some of the key benefits of an operating agreement are:

It is recommended that you incorporate the above structural details into your LLC operating agreement. Drafting an LLC operating agreement can be a daunting task. If you plan to do this yourself, you would be well-advised to consult with an attorney familiar with Pennsylvania LLC laws.

Not having an operating agreement, or having a very poorly written operating agreement, and then not having strong buy-sell provisions [if partners split] are probably the two things that I see hurt the business, says Campbell. Completely out of the blue, if someone gets injured or, God forbid, passes away, buy-sell provisions also cover those things as well.

Once you have received your file-stamped Certificate of Organization and your LLC is officially formed, you will then need to apply for a federal Employer Identification Number (EIN) with the Internal Revenue Service. You need an EIN in order to pay Pennsylvania business taxes for your LLC, as well as to open an LLC bank account and conduct other types of business. You can obtain your EIN on the IRS website, and the Internal Revenue Service lets you register an EIN for free.

After you have obtained your EIN, you can open a business bank account for your LLC. It is very important to create and maintain a separate business bank account and make sure you do not commingle any of your LLC finances with your personal finances. The same is true regarding credit cards: you should have a separate credit card in the name of the LLC that is used exclusively for LLC business.

To establish a business bank account, you will need to show the bank your filed Certificate of Organization and your EIN. The bank may also require a signed operating agreement and background information for each LLC manager and member.

Depending on your specific business activities, your LLC may need to report sales and use tax and/or employer withholding. In order to register your LLC for state tax and employer accounts, youll need to complete the Pennsylvania Enterprise Registration Form.

You may also need to obtain any necessary business licenses or permits. To determine if you need a PA business license, you can check with the Pennsylvania Department of State Licensing Services.

If you are operating an online business, there are additional issues that will need to be considered, including complex privacy and data protection laws in certain states (California, Colorado, Connecticut, Utah, Virginia) and the UK / European Union.

Lastly, you may want to consult with a business attorney or accountant before you form your Pennsylvania LLC, particularly if it is your first time. It may save you the time and expense of having to fix any mistakes you may make during your LLC formation process.

I would definitely recommend having a business attorney, says Catherine Janisko, founder and owner of Catsy Lu Beauty, Pennsylvania-based cosmetic and personal care company. You just dont know what can happen in the future, especially if youre online.

Filing your Certificate of Organization in Pennsylvania will cost $125. If you choose to reserve a name beforehand, you can hold a business name for up to 120 days for an additional fee of $70. Additional services like LegalZoom come with an additional cost.

Each year, you will need to file an annual report to maintain annual registration, which includes a $70 fee.

Filings completed online will take about four weeks, and filings sent in by mail will take five to six weeks to process.

You dont have to engage a lawyer in order to start an LLC, but the added advantage of working with a professional is that you can ensure youre taking the right steps in the right order. Weigh the pros and cons of retaining professional help versus incorporating your LLC yourself.

An LLC formation service like LegalZoom or Northwest Registered Agent will walk you through a checklist of the steps you need to take to file your LLC. The service then sends in the application on your behalf, and communicates the Secretary of States decision back to you one it has been received.

A DBA, which stands for Doing Business As, is a vanity name for your LLC that you can use when conducting business. Some organizations may want their business name to be different from their actual LLC name, for marketing purposes. Your DBA cannot be a name that has already been filed in the state of Pennsylvania.

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How to Start an LLC in Pennsylvania: 7 Steps to Making Your Small Business Official - NextAdvisor

CHARLOTTE, N.C., Sept. 13, 2022 /PRNewswire/ -- As Gen Z looks to establish their financial footing, the economic environment and inflation have posed new challenges in achieving their financial goals. This is according to new research published today by Bank of America's Better Money Habits exploring this generation's (ages 18 to 25) distinct approach to money including their financial priorities, behaviors and challenges. With Gen Z being far more diverse than previous generations, the new research also examines ways in which race, ethnicity and gender may influence their financial priorities and challenges.

According to 73% of Gen Z, the current economic environment has made it more challenging to save. They feel inflation has made it harder to save for financial goals (59%) and pay down debt (43%) and has created more financial stress (56%) in their lives. Forty percent also say surging rents or home prices have made it challenging to afford day-to-day necessities. According to The Bank of America Institute, younger consumers are getting squeezed the most by higher rent inflation, with median rent payments up 16% year over year in July for Gen Z, compared to just 3% for Baby Boomers.

Gen Z isn't taking inflation and the higher cost of living sitting down. Currently, 75% of Gen Z are taking or considering steps to earn additional income including: changing jobs (34%), turning a passion into a source of income (31%), taking on a second job (26%) or even a job they don't like (23%).

"Gen Z is ambitious and enterprising, and taking positive actions as they join the workforce and make some of their first financial and career-driven decisions," said Christine Channels, Head of Community Banking and Consumer Governance at Bank of America. "Current economic and inflationary headwinds have created added challenges for many. Through our Better Money Habits platform, we're connecting these young adults to a wide range of resources and guidance designed to give them the skills, knowledge and confidence to succeed financially."

Other key findings from the Better Money Habits research include:

When it comes to success at work and in life, Gen Z is driven by the desire to achieve financial peace of mind (74%) and to comfortably afford the things they want. Gen Z's top three priorities for the year ahead include furthering their education (40%), advancing their career/salary (32%) and getting a new job (31%). These priorities are followed closely by saving for retirement (25%), traveling (24%), buying a car (22%) and building good credit (20%). They're more likely than other generations to cite the desire to comfortably afford material items (45%) as a motivator to achieving financial success (vs. 34% of Millennials, 30% of Gen X, 30% of Boomers). More than half (56%) of Gen Z say discipline is a key trait to achieving financial success, with other important traits and characteristics being financial savvy (37%), organization (35%), motivation (34%), self-awareness (29%), frugality (20%) and confidence (20%). Today, two-thirds (66%) are actively saving for financial goals and, despite the current environment, 58% are optimistic about their financial futures.Much of Gen Z has the financial basics down, though struggle with more complex topics such as investing and debt. Gen Z feels equipped to handle basic financial tasks, including budgeting (71%), managing day-to-day expenses (70%) and building/managing credit (65%). However, preparedness levels decrease significantly when it comes to the future and more complex topics, including building an emergency fund (54%), saving for retirement (43%) and investing (29%). Nearly 40% have no investments and of those the top reasons for not investing include having no additional funds to spare (44%), not knowing where to start (31%) and feeling investing is too risky (23%).Federal student loan freeze brings some relief. Nearly half (47%) of Gen Z already carries some form of debt, including through credit cards and student loans. They have found that the federal student loan freeze has brought them some relief. Among those with student loans, 41% say the freeze allowed them to maintain their current standard of living, 23% say it allowed them to contribute more to their savings, and 21% say they've been able to continue paying down their loan without collecting interest.

When dating, Gen Z would rather talk religion and politics than about their money. Growing up, 35% of Gen Z reported having open discussions with parents or guardians about financial topics more so than Millennials (26%), Gen X (23%) or Boomers (21%). Despite greater dialogue about money at a young age, Gen Z still view money talk as a more taboo topic of discussion early in romantic relationships. During the first six months of a new relationship, they feel more comfortable discussing religion (81%), politics (75%) and previous relationships (71%) than they do their income (69%) and debt (60%). Many also feel more comfortable meeting their partner's family (80%) and saying "I love you" (73%) within the first six months than they do talking about money.

Demographic Spotlights

The research also explored how race and gender may influence financial priorities and challenges, including the racial wealth gap. Reflecting on the last five years, about two-in-five Black/African American (41%) and Hispanic (42%) Gen Z say some or significant progress has been made to close the racial wealth gap, while others in these groups say no progress has been made (both 30%). Looking to the next five years, about half of Black/African American (47%) and Hispanic (54%) Gen Z believe some or significant progress will be made to close the gap, while others say no progress will be made (28% and 24%, respectively). Additional findings include:

Black/African American Gen Z is paving the way toward financial independence and embracing a hustle culture, though barriers persist around debt and saving. 60% of Black/African American Gen Z identify as mostly or fully financially independent more so than their non-Black/African American peers (45%). 80% are currently/considering taking routes to earn supplemental income more so than their non-Black/African American peers including taking on a second job (35% vs. 25%). They are 3x as likely to prioritize starting or growing a business in the year ahead compared to non-Black/African American Gen Z (15% vs. 5%). Black/African American Gen Z is nearly twice as likely to say they currently invest or are considering investing in cryptocurrencies than non-Black/African American Gen Z (22% vs. 12%). While Black/African American Gen Z is more likely to have debt than their counterparts (60% vs. 44%), this is down from 70% year-over-year. This community is more likely to cite taking on too much student loan and/or credit card debt as their biggest financial regret (30% vs. 17%). 40% contributed to their savings over the last year (vs. 56% of non-Black/African American Gen Z), however two-thirds (67%) don't have enough emergency savings to cover three months of expenses with one-third (32%) of all Black/African American Gen Z citing not having an emergency fund as their biggest financial regret.

Family is at the cornerstone of Hispanic Gen Z's financial lives; equate homeownership with financial success.

54% percent of Hispanic Gen Z is not financially independent and still rely on family for financial support. Family is also more of financial motivator, with 36% hoping to pass down wealth to the next generation (vs. 27% of non-Hispanic Gen Z) and to succeed financially to make their parents proud (36% vs. 23%). 57% say being able to provide for their family's future is part of their definition of financial success, and 64% say it's important to educate their family and/or community on financial matters. Despite an emphasis on family support, nearly two-thirds (65%) say their parents did not talk about finances openly when they were growing up. Education gaps remain a barrier for this community when it comes to investing. 42% don't have any investments, and when asked why, the top reason is not knowing where to start (42% vs. 27% of non-Hispanic Gen Z). Hispanic Gen Z is prioritizing homeownership. Nearly half (45%) say fully paying off a home/mortgage aligns with their definition of financial success, and they're more likely to prioritize buying a home in the year ahead (22% vs. 14% of non-Hispanic Gen Z).

Gen Z women's financial literacy gaps and lack of investing, relative to men, may negatively impact their near and long-term financial wellness.

Gen Z women and men feel equally equipped to build/maintain credit (64% vs. 66%) and stick to a budget (69% vs. 73%). However, Gen Z women feel less equipped to manage day-to-day expenses (63% vs. 76%) and to build an emergency fund (48% vs. 61%). Just 38% of Gen Z women have enough emergency savings to last three months, compared to 48% of Gen Z men. In terms of longer-term planning and investing, Gen Z women's financial knowledge has them feeling less equipped than Gen Z men to save for retirement (37% vs. 49%) and to invest (22% vs. 35%). Today, 41% of Gen Z women have not yet begun investing, compared to 34% of men, and are less likely to even be considering individual investments (36% vs. 47%) or retirement savings vehicles such as a 401(k) (39% vs. 46%).

"We recognize the unique financial needs across diverse and historically underserved communities," Channels added. "The insights from this annual research help to inform how we tailor resources and guidance to empower the next generation as they embark on their financial journeys. Last year, for instance, we developed a Gen Z financial guide based on insights into the priorities, preferences and challenges of this growing client segment."

Methodology

The study was conducted June 24 - July 13, 2022, by Ipsos in both English and Spanish and is based on nationally representative probability samples of 1,098 general population adults (age 18 or older), and a partially overlapping sample of 921 Gen Z adults (age 18-25), including 124 Gen Z adults from a non-probability sample. This survey was conducted primarily using the Ipsos KnowledgePanel, the largest and most well-established online probability-based panel that is representative of the adult US population. Panelists are scientifically recruited into this invitation-only panel via postal mailings to a random selection of residential addresses. To ensure that non-internet households are included, Ipsos provides access to a tablet and internet connection to those who need them. Because of this probability-based sampling approach, KnowledgePanel findings can be reported with a margin of sampling error and projected to the general population. The margin of sampling error for the general population sample is +/- 3.2 percentage points at the 95 percent confidence level.

Better Money Habits

At Bank of America, we're committed to helping people lead better financial lives by equipping them with the skills, knowledge and confidence to succeed. That's why we created Better Money Habits, a financial education platform of tools and information that helps people make sense of their money and take action to improve. As a cornerstone of Better Money Habits, we offer free financial education content and tools that break down financial topics in a way that's approachable and easy to understand. We continually look for ways to expand the reach of Better Money Habits and also offer Spanish language resources on the site.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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73% of Gen Z say economic environment has made it more challenging to save; 75% seeking ways to earn additional income - Automotive News

King Charles III should pay inheritance tax on the late Queen Elizabeth II's personal fortune British people feel, according to the results of a new survey undertaken days after the new monarch's accession.

Reports that the king would not be expected to pay the 40 percent inheritance tax on any of the private property passed to him by his mother began to circulate immediately after her death, following the creation of a memorandum on royal taxation overseen by Elizabeth and the U.K. government in 1993.

In 2022, the queen's personal wealth was estimated to be around 370 million ($433 million) by Britain's Sunday Times.

This wealth is separate from the institutional property associated with the crown, such as the crown jewels, palaces and state land, the royal collection of artworks and income reserves connected with the sovereign grant.

The memorandum states that in the case of assets which can "properly be regarded as private" property of the monarch, "inheritance tax will not be paid on gifts or bequests from one sovereign to the next, but will be payable on gifts and bequests to anyone else."

This means anything left to Charles will be tax free, whereas inheritances left to any other member of the royal family will be subject to inheritance taxation, which in the U.K. is 40 percent of the value of bequests above 325,000 ($368,000).

A poll commissioned by Tax Justice U.K., an organization campaigning and advocating for a fair and sustainable tax system in Britain, has shown that 63 percent of respondents believe Charles should have to pay inheritance tax.

Undertaken by market research company YouGov, the poll also showed that just 16 percent of Brits asked felt that the king should be exempt from paying inheritance tax, while 21 percent responded that they did not know.

The justification for the special arrangements for the monarch made in the 1993 memorandum states that:

"The monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life, and to have a degree of financial independence from the government of the day."

A statement from Robert Palmer, of Tax Justice U.K. said of the poll results: "It's clear from this poll that the public believes King Charles should pay inheritance tax on the private wealth he will inherit as a result of the Queen passing away.

"The fact that the monarch pays no inheritance tax at all is just one example of how the tax system is designed so that the wealthy can pay low levels of tax.

"Politicians should be asking those who can afford itincluding the very wealthyto pay more in tax."

Graham Smith, CEO of Republic, an anti-monarchy campaign group, took a stronger line on the subject, previously telling Newsweek that the arrangement was a "disgrace."

"In short it's an absolute disgrace. There's no justification for it," he said.

"This has been the case for quite some time, that the monarch does not pay inheritance tax when they take the throne. There's absolutely no justification for allowing them to accumulate this enormous wealth."

"We just keep on throwing more money at them and they keep accumulating it while spending more of our money on their day-to-day costs," he continued.

"There needs to be a root-and-branch review of royal funding and they need to be brought into line with the same rules everyone else has to abide by."

The debate has been raised as Britain as inflation hit a 40-year high in July at 10.1 percent.

Charles came face-to-face with a member of the public complaining about the extravagance of the monarchy while Britain experiences a cost-of-living crisis during a walkabout in Wales last week.

While greeting a crowd of people, one man yelled: "Charles! While we struggle to heat our homes we have to pay for your parade. The taxpayer pays 100 million for you, and for what?"

So far there has been no official comment from Buckingham Palace following the death of the queen in relation to tax arrangements.

Queen Elizabeth II died on September 8 at her Scottish home of Balmoral Castle. In accordance with tradition, her son Charles became king upon the moment of her death.

Newsweek has approached Buckingham Palace for comment.

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King Charles Should Pay Inheritance Tax Say 63 Percent of Brits - Newsweek