Category Archives: Financial Independence

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Five million people are expected to get married in the U.S. this year and every one of them should have a prenup, financial experts say.

The 2.5 million weddings scheduled in 2022 are the most since 1984, according to The Wedding Report, an online database of wedding statistics.

And 10% of couples get engaged on Valentines Day. Thats a lot of matrimony.

Just like anybody would get insurance on very expensive assets, a prenup is like insurance for your marriage. A prenup protects your money in ways that can save you a lot of headache in the future, and experts agree its an important investment in a romantic relationship.

Prenups are frankly too important not to be discussed. If you have the type of partner whos not willing to entertain the idea [of a prenup], thats a red flag, says Jannese Torres-Rodriguez, host of the Yo Quiero Dinero podcast. If you cant talk openly about money in your relationships, you probably wont be able to talk openly about a lot of other important topics.

So who needs a prenup? These experts say everybody. Lets talk about nuptial agreements, their function in your marriage, and why these three experts agree that you need one.

A prenup, short for prenuptial agreement, is a written legal contract between two people that covers a variety of financial issues and concerns, such as property, cash accounts, and financial obligations.

If you dont create your own prenup, every state has laws and regulations about what is going to happen in the case of a divorce, says Rita-Soledad Fernndez Paulino, financial coach at Wealth Para Todos. Depending on what you and your spouse bring to the marriage, those laws can work in your favor or to your detriment.

Everybody has a prenup, says Erin Lowry, author of Broke Millennial Talks Money. To ostensibly be asked to sign a legally binding document without at least reading the fine print is bad form.

Consider discussing prenups when your relationship starts to get serious or when you get engaged, says Lowry. A clean, simple way to start the conversation is to ask your partner how they want to handle any assets or debts that both of you are bringing into the marriage.

A prenup protects or determines anything related to finances, including:

For a prenup to be legally enforceable, it must be fair and equitable and cannot appear one-sided, deceptive, or exploitative. And both parties must have their own separate legal representation.

Lowry cautions to never sign a prenup if you feel strong-armed or coerced in any way, such as if youre suddenly presented with a prenup right before marriage, if your partner says they wont marry you without one, or if someone in their family is requiring a prenup.

Prenups are about protecting both spouses, says Torres-Rodriguez. Its easier to make decisions when youre in a healthy place and trust one another instead of when emotions are running high during divorce proceedings. A prenup can and should come from a place of love and compassion for one another.

Just like a prenup protects financial matters, it does not cover anything unrelated to finances, such as requiring your partner to appear a certain way, relationships outside the marriage (including infidelity), unreasonable living conditions, or anything thats explicitly illegal.

Its also extremely important to note that a prenup doesnt cover anything related to child custody, visitation, or support, because courts and legislators do not allow couples to bargain away a childs rights as part of a marriage. Those rights will have to wait to be decided during divorce proceedings, and are based on each spouses emotional and financial fitness at the time of the divorce.

A postnup is a financial agreement that a married couple can create. Its much the same as a prenup, but comes after the marriage has been established.

Couples often initiate a postnup when theres a big lifestyle change, such as a spouse starting their own business, when children have entered the picture, or when one spouse decides to leave the workforce.

Also note that you can have both a prenup and a postnup. You might create a postnup that amends a prenup, like when you previously waived alimony but then had children, found out about an inheritance, or independently acquired property during the marriage.

Its unfortunate that prenups are perceived as divorce contracts, says Lowry, who encourages reframing them more like marriage insurance. Having regular money conversations with your partner can reduce the stigma around prenups.

Just like people dont anticipate losing their home, car, or life when they get homeowners, car, or life insurance, respectively, no one anticipates divorce when they decide to get married. Prenups can cost anywhere from $1,500 to $10,000, depending on how complicated they are.

Think of a prenup or postnup as marriage insurance with terms you get to decide. Without one, the default laws in your state will apply which can be unfavorable, particularly in community property states.

Everyone needs to at least consider a prenup because people are getting married at older ages than previous generations, says Torres-Rodriguez. And so we are tending to acquire more assets that need protection in the event that we end up getting divorced.

Torres-Rodriguez got a prenup to protect her business assets that shes worked on building herself. It was important for her, she says, not only as a woman, but a woman with the ultimate goal of financial independence.

Plus, everyone who gets married already has a prenup, whether they know it or not: the default divorce laws of the state they reside in. You need to know what those terms and conditions are and if youre comfortable with them, particularly if you live in a community property state where assets and debts are typically divided 50/50. If youre not, then you definitely need a prenup that outlines how to handle your assets and debts that you bring into your marriage and acquire during it.

The beauty of a prenup is how it simplifies the divorce process, if it ever happens. Divorces can be expensive, messy, and drag on for a long time. But when you have a prenup, you already have a plan for how to split everything, which dramatically reduces the stress and emotions of a divorce during a time when you could be bitter or angry.

When your prenup comes from a place of mutual understanding, it can actually be cheaper and more efficient in the long run. Plus, it shows your spouse that youll honor their decisions if, for whatever reason, your marriage doesnt work out.

Like most insurance, its great to have just in case something happens.

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Getting Engaged This Valentine's Day? You Need a Prenup, According to These 3 Experts - NextAdvisor

Item 2.02 Results of Operations and Financial Condition.

On February 16, 2022, Independence Realty Trust, Inc. ("IRT") issued a pressrelease regarding its earnings for the three and twelve months ended December31, 2021. Additionally, IRT is furnishing certain supplemental information withthis Current Report. Copies of such press release and such supplementalinformation are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, tothis Current Report and are incorporated by reference herein. The information inthis Current Report, including Exhibit 99.1 and Exhibit 99.2 hereto, is beingfurnished and shall not be deemed "filed" for purposes of Section 18 of theSecurities Exchange Act of 1934, as amended, or otherwise subject to theliabilities of that Section. The information in this Current Report shall not beincorporated by reference into any registration statement or other documentpursuant to the Securities Act of 1933, as amended.Item 7.01 Regulation FD Disclosure.

The information provided in Item 2.02 above is incorporated by reference intothis Item 7.01.Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

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

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INDEPENDENCE REALTY TRUST, INC. : Results of Operations and Financial Condition (form 8-K) - marketscreener.com

Dear Quentin,

Were a gay couple who have been together off and on almost 20 years. We have been married for five years. My wife bought our home in November 2015. We moved in together in January 2016. We married in November 2016. She wont add me to the title or refinance.

I have been paying two-thirds or more of the mortgage for about five years, and have also contributed $12,000 toward improvements. During an argument, she said her daughter will get the house. What can I do at this point to secure my investment in the house?

Out in the Cold

This is a difficult and all-too-common dilemma: A case of our/her home and the/her mortgage. The law on what is considered marital and separate property varies by state, but many states will consider a property at least partly commingled if one partner has invested a significant amount of money in its upkeep.

If you owned a home before you got married and you never changed the title to include your spouse and did not put marital money into the house for renovation and upkeep, the house will likely be considered non-marital property, the American Bar Association says.

In Texas, for example, the surviving spouse has the right to occupy the homestead for the remainder of their life, even if it is separate property, per the State Bar of Texas.By virtue of being a surviving spouse, he or she has the exclusive right to occupy the home for as long as he or she desires, it says.

However, the use of community funds for the upkeep of a property in Texas does not automatically mean that separate property has become marital or community property, although you could in the event you divorced make a claim for that $12,000 in renovations.

Assuming your wifes house remains separate rather than marital property, there is a solution.

It all depends on where you live. In New York, on the other hand, your situation would have a very different outcome. If you contribute meaningfully to your spouses home, that could commingle that property, even if your wifes name is the only one on the deed of the house.

The Colwell Law Group gives the following scenario: Say, for example, prior to your marriage, you owned a piece of rental property, and then, during your marriage, your spouse helped you renovate the property in a way that improved its value and increased your rental income.

In this case, its not necessarily a slam-dunk 50/50 ownership. While the real estate itself would still be separate property, the increase in value would be considered marital property and would be taken into account for equitable distribution, Colwell Law Group says.

Assuming your wifes house remains separate property, there is another solution: Your wife could give you a life estate, allowing you to live in the house for the remainder of your life in the event that she predeceases you, and her daughter to inherit the house as planned after you pass.

Paying two-thirds of your wifes mortgage gives you a place to live and ideally a chance to save if you are paying under the market rate for rent, but you dont have a stake in the house and it doesnt secure your own future. Ultimately, the best way to invest in your future is to maintain your own financial independence.

Youcan email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.com, and follow Quentin Fottrell onTwitter.

Check outthe Moneyist private Facebookgroup, where we look for answers to lifes thorniest money issues. Readers write in to me with all sorts of dilemmas. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.

The Moneyist regrets he cannot reply to questions individually.

More from Quentin Fottrell:

She was homeless and I was alone: I was befriended by a woman who moved into my home she gradually stole $40,000 from meHes always been a shady character: My uncle asked me to sign a document saying that Id no rights to my grandfathers land. I didnt sign it. What now?He walked out on our marriage 2 years ago and disappeared: How do I serve my missing husband with divorce papers? He owes me thousands of dollars

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Weve been married for 5 years. I pay two-thirds of my wifes mortgage and spent $12,000 on repairs but she says her daughter will inherit our home -...

TORONTO, Feb. 14, 2022 /CNW/ - BMO Financial Group's Retirement Study found that while the average amount Canadians believe they need to retire has increased 12 per cent since 2020 to $1.6 million, fewer than half (44 per cent) of Canadians are confident they will have enough money to retire as planned.

The annual survey explores Canadians' expectations and approaches to retirement planning. This year's edition found their confidence in having enough to retire as planned has decreased by 10 per cent since last year. Provincially, residents in Alberta and Ontario are the most confident in their existing retirement plans, at 51 and 46 per cent, respectively.

Region

Retirement Confidence

Making an RRSP Contribution Before March 1, 2022

Atlantic

37 per cent

49 per cent

Quebec

43 per cent

61 per cent

Ontario

46 per cent

58 per cent

Prairies

38 per cent

58 per cent

Alberta

51 per cent

53 per cent

B.C.

40 per cent

58 per cent

National

44 per cent

58 per cent

Despite the challenges from the global pandemic and expectations of rising inflation, the majority (58 per cent) of Canadians have or plan to contribute to their Registered Retirement Savings Plans (RRSP). Quebec residents have the highest contribution rates while Canadians in the Atlantic provinces have the lowest.

"Canadians have demonstrated resilience during these uncertain times and it's encouraging to see them continue prioritizing retirement planning," said Robert Armstrong, Director, Multi-Asset Solutions, BMO Global Asset Management. "While 2022 will have its own challenges and opportunities, working with a professional advisor can help Canadians navigate these transitions and gain confidence in their financial plans and future."

Retirement Pulse Check

The survey also revealed additional insights into Canadians' retirement plans and strategies, including:

The Golden Age: Approximately a quarter (23 per cent) of Canadians plan to retire between the ages of 60 and 69, with an average age of 62.

Eyes on Early Retirement: 23 per cent of Canadians are planning to retire early and would like to retire at age 54.

Finding the Magic Number: More than half (53 per cent) of Canadians don't know how much they will need to retire. Provincially, residents living in the Prairies provinces at 61 per cent are the least likely to know how much they will need to retire.

Contribution Motivations: Among the 60 per cent of Canadians with an RRSP, 66 per cent of them contributed to the account to save for retirement. Close to a quarter (23 per cent) of respondents contributed to their RRSPs to achieve financial independence as early as possible, while 14 per cent are saving for an early retirement.

Advice Based Confidence: 79 per cent of Canadians rely on a financial advisor, a nine per cent increase from 2020. Those with a financial advisor are more likely to feel confident they will have the money they need to retire (53 per cent).

Story continues

Single, Together or Its Complicated? Achieving Retirement Planning Confidence Beyond Relationship Status

The study found Canadians' relationship status plays a role in how they approach retirement planning:

Confidence: Only 39 per cent of single Canadians are confident in their existing retirement plans. Confidence rates are higher among couples and respondents who are widowed, divorced or separated, at 47 and 46 per cent respectively.

RRSP Ownership: Compared to other groups, couples are much more likely to have an RRSP at 69 per cent. Ownership is lower among widowed, divorced or separated (52 per cent) and single (45 per cent) Canadians.

RRSP Knowledge:

Barriers to Contributing: 42 per cent of widowed, divorced or separated Canadians cite not having enough money as a barrier to contributing to their RRSPs this year. Couples and single Canadians are much less likely to cite this contribution barrier at 26 and 29 per cent respectively.

"While long-term financial goals including retirement can initially feel intimidating, Canadians are not alone. By working with a trusted professional advisor who can develop personalized plans according to your personal and financial goals, risk tolerance and values, Canadians can have the confidence they will be able to enjoy retirement and the other benefits that come with achieving your goals," said Mr. Armstrong.

For more information on Registered Retirement Savings Plans, opening an account, or other assistance, please visit http://www.bmo.com/rrsp.

The BMO Savings Study was conducted by Pollara Strategic Insights via an online survey of 1,500 adult Canadians conducted between October 26th and 29th 2021. The margin of error for a probability sample of this size is 2.5%, 19 times out of 20.

About BMO Financial GroupServing customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $988 billion as of October 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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BMO Annual Retirement Study: Average Amount Canadians Believe They Need to Retire Increases by 12 Per Cent, But Fewer Than Half are Confident They...

BOSTON, Feb. 16, 2022 /PRNewswire/ -- The largest online referral network for small businesses, Alignable.com is announcing the results of its national search for leaders who've gone above and beyond guiding peers and supporting entire communities as they strive to recover.

The Association of TeleServices International (PRNewsfoto/Association of Teleservices Int)

Today, Alignable's network has chosen Beth Devine, Principal and Owner of Devine Solutions Group Digital Marketing as Tracy, CA's 2022 Businessperson of The Year!

The 2022 contest is the most popular competition Alignable has ever hosted, marking a 64% increase in participation over last year. In all, 2,400+ small business owners were elected by their peers to be their Local Business People Of The Year across the U.S. and Canada.

During the contest, which ran from Jan. 10 to Feb. 11, 2022, 160,000+ votes and 32,000+ testimonials were posted praising thousands of local leaders for helping their peers and communities through a turbulent year with many challenges: skyrocketing inflation, labor shortages, supply chain problems, and COVID variants.

Because of these issues, 70% of small businesses have yet to recover and recovery rates have declined 13% since December, according to Alignable's latest poll of 6,305 small business owners. This recovery reversal highlights how important it is for the contest winners to continue their work helping even more businesses bounce back from pandemic-era hurdles.

Giving Is the Glue Holding Us Together"In our tight-knit community, you almost always get back what you give," said Devine. "And the challenges we've all encountered have compelled many of us to offer counsel and other support to peers struggling to keep their businesses afloat. While I'm thrilled to receive this award, it's really a testament to our entire community. And it reinforces my resolve to push toward a full recovery for everyone here in Tracy by the end of 2022, if not earlier."

Devine received a special badge on her Alignable profile, recognizing this big win. In past years, the awareness generated through similar contests has spurred expanded connections, as well as new business for many winners.

Story continues

Driving Recognition Is Key"This has been a fun and rewarding contest to watch unfold," said Alignable's President & Co-Founder Venkat Krishnamurthy. "Local business owners are the heart and soul of their communities and they ought to get way more recognition for all they do. Friendly competition aside, this contest generated some incredible peer testimonials (to the tune of 32,000+), showing exactly why small business owners are stronger together."

About Devine Solutions Group Digital MarketingDevine Solutions Group is a multiple award-winning, full-stack digital marketing agency headquartered in Tracy, CA. As an affordable option to hiring an in-house marketing team, they work with small to mid-sized business owners to grow their business and their profit online.

Their purpose is to assist clients with turning their business potential into a profitable reality. They do this by implementing top tier transformational digital marketing services. They are committed to assisting their clients with growing their business, so they can achieve the financial independence they require the work/life balance they deserve.

Clients hire Devine Solutions Group for their expertise in ADA Website Design, SEO, Social Media Marketing, Reputation Management, and a whole lot more.

About Alignable Alignable.com is the largest online referral network for small businesses in the U.S. and Canada. With 7 million+ members across 35,000+ local communities, Alignable is the network where small business owners drive leads and prospects, generate referrals, land new business, build trusted relationships, and share great advice.

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Beth Devine of Devine Solutions Group Honored as Tracy, CA's 2022 Local Businessperson of the Year - Yahoo Finance

The President of the Caribbean Court of Justice (CCJ), Justice Adrian Saunders, says the CCJ provides Value for Money for nations subscribing to its services and in Saint Lucias case, its an asset worth every cent of the US $2.1 million it has invested.

Explaining how the CCJs operations have been funded, Justice Adrian Saunders says member-states paid according to the size of their economies into an independent US $100 million Trust financed by the Caribbean Development Bank (CDB) and individual Caribbean Community (CARICOM) governments.

The fund, which started with US$100 million, is in the hands of an independent board entrusted to invest the US$100 with the returns being used to fund the annual budget of the court. This means that, unlike most Courts, the CCJ does not look to any government to fund its operational budget. The returns of the Fund have been averaging between 5-6% per annum.

Saunders describes the CCJs unique mechanism as the envy of all international courts, because it strengthens the courts financial independence and insulates it from the possibility of political pressure being exerted

He also said the CCJ would be a useful asset to Saint Lucia because of the relatively lower cost of access to justice when compared to the Privy Council. He provided the data, which indicated the impact of the high cost of access to the Privy Council. Referring to Saint Lucia, he said only 17 cases were heard by the Privy Council in London, over a period of 16 years, amounting to a case per year.

He questioned the logic of Caribbean citizens paying to seek justice across the Atlantic when the CCJ is right on their doorstep.

Saunders questioned the underutilization of Saint Lucias initial investment in the Trust Fund: Whats the logic of investing US $2.1 million in an asset, only to make very little use of it especially when the asset is functioning well and there is no demonstrable difference in quality between the use and value you derive from that asset and that which is to be had from the alternative?

The CCJ President and a team of judges and officials visited the island in January to update and inform parliamentarians, judges, lawyers, and court officials how the court operates and why it will be in both the economic and justice interests of Saint Lucia and Saint Lucians, when the island finally opts out of the British Privy Council and makes the CCJ its final appellate court.

CCJ officials have been continuing to liaise with local legal and judicial officers regarding the information needed to prepare Saint Lucia for the date when itll make that final break with one of the last vestiges of colonialism in the Caribbean.

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The CCJ Has the Protection of Financial Independence- Unlike other Courts - St. Lucia News Online

The great poet Christina Rossetti wrote: For verily love knows not mine or thine; with separate I and thou free love has done, For one is both and both are one in love.

What a beautiful sentiment. But I wonder if Rossetti might have felt quite the same in our age of online dating, where its not uncommon to see such practices as benching (keeping some suitors warm in case others dont work out), catfishing (pretending to be someone else) and ghosting (breaking up with someone by severing all contact).

It can be brutal out there in Dating Land. The latest reminder of this comes via The Tinder Swindler, a new Netflix documentary about a serial romance fraudster.

Shimon Hayut posed on Tinder as a diamond tycoon and wowed women with flashy dates before asking them for money so he could flee business enemies.

Hayut served five months in an Israeli prison for stealing an estimated 7.4m. His awful con thrived on the fake imagery, international reach and accelerated intimacy of modern online relationships. But he also tapped into something timeless: that desire to oblige someone you love, financially and otherwise.

The obvious advice here is dont EVER give money to people youre dating and hardly know. But what about serious partners who want to set up a joint account with you? I have come across many women who were dumped only to discover their ex had saddled them with huge debts before waltzing off into the sunset.

This is more than caddish behaviour: its economic abuse. According to the charity Surviving Economic Abuse, the average coerced banking debt owed by victim-survivors is 4,607.

But economic abuse hasnt always been well understood by the financial industry. Abusers take advantage of this, as well as the instinct to be trusting and open in relationships, to manipulate partners into joint financial arrangements that can later be exploited.

Economic abuse is getting far better recognition now. The Governments Domestic Abuse Strategy, due to be published soon, will discuss how legal and financial systems can be strengthened to root out economic abuse and help victim-survivors rebuild their finances.

The Financial Abuse Code has also been tightened up, with banks and lenders required to take more care when dealing with disputes over joint finances. The problem is that a joint account equals joint liability for any debts, such as an overdraft. If your partner cant or wont pay back what they owe, the buck stops with you.

A joint account also equals joint debt in the eyes of credit reference agencies (CRAs). As soon as you take out a joint account, CRAs financially link your credit profiles, and your partners bad credit score will drag down yours, too.

You can freeze a joint account if your relationship ends, and you suspect your ex will be unco-operative or underhand. That means neither of you can access it until you have agreed on how to split the money. If you reach stalemate, you will have to go to court.

That is why joint accounts can be a nightmare if relationships go sour. Besides, your ex can clean out your account before you even have a chance to freeze it. This might be one reason why joint accounts are becoming less popular. One survey by Netwealth has found 31 per cent of women aged between 16 and 54 have decided against sharing financial assets with their significant other, while one in three regretted not maintaining financial independence in a relationship.

Of course, financial co-operation in relationships can reap rewards. Plus, the cost of housing and childcare requires two incomes stretched to the max. Money is often a big factor in divorce, but its also what forces many people to stay in deeply unhappy relationships.

Interestingly, a recent study at Stockholm University suggested that couples who pool their money together have fewer arguments. But this was more the case with older couples than younger ones and the research was conducted in Sweden. Id be careful about extrapolating such findings from one country to another.

There is nothing wrong with having a joint account if your relationship is strong and your partner is trustworthy. But dont ever think it is cold or unromantic to keep at least some of your money separate.

And I would insist on a legally binding agreement covering financial arrangements in the event of a split. A truly loving partner will always support this decision. How Id love to buy into the idealised vision of a relationship where there is no such thing as mine or thine. But sad stories of joint account abuse have persuaded me to be more hard-headed.

Now, if a partner put pressure on me to give up my financial independence, Id take my cue from the title of another fabulous poem by Christina Rossetti: No, Thank You, John.

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Not every swindler is found on Tinder: How joint accounts can be a nightmare if things turn sour - iNews

When she was growing up in New Jersey, Alexia Del Valle had a mural of the Hollywood sign on her bedroom wall. She dreamed of making it out to Los Angeles.

She doesnt need paintings anymore. Now that shes part of the Familia Fuego, an all-Latino TikTok collective living high in the Hollywood Hills, she can have the real deal whenever she wants.

I got here and looked outside our window, and theres the Hollywood sign, said Del Valle, 23. I literally was crying.

A world-class view is one of the many perks that come with being part of the Familia. Del Valle moved into the groups $2.2-million shared home last September. Ever since, she has been brainstorming ideas, collaborating on videos and advancing her budding entertainment career alongside four other young social media stars: Leo Gonzalez, Monica Villa, Jesus Zapien and Isabella Ferregur. With the backing of DirecTV and the influencer marketing firm Whalar, the quintet have gone from working service industry day jobs to doing shots with Neil Patrick Harris, watching the Chargers alongside Roddy Ricch and living down the street from Quentin Tarantino.

Familia Fuegos $2.2-million TikTok content house in the Hollywood Hills.

(Mariah Tauger / Los Angeles Times)

With the backing of DirecTV and the influencer marketing firm Whalar, the TikTok collective Familia Fuego has gone from working service industry day jobs to hanging out with celebrities.

(Mariah Tauger / Los Angeles Times)

As both Hollywood and the influencer economy wrestle with questions of diversity and representation, Familia Fuego is the rare project thats unabashedly, wholeheartedly Latino. How many other influencers could get 50,000-plus likes on a video about pozole? That theyre based out of a city thats nearly half Latino, but in an extravagantly wealthy neighborhood where that proportion is closer to 10%, further colors the uneasy task the TikTokers have of representing their heritage while also making inroads into historically white career fields.

Its definitely challenging being a high-profile Latina influencer, said Del Valle, whos of Puerto Rican descent and has 1.5 million followers on her personal TikTok account (the shared Familia Fuego page has another 127,000). But its also special, because its giving us an opportunity to represent where we come from. It seems more rewarding, in a way. Were putting ourselves out there, and our people out there also.

People often assume that influencers are all rich or have limitless resources, Del Valle added, but she doesnt think shed have been able to move to California without the help of Familia Fuegos corporate sponsors. People dont see that we really came from humble backgrounds.

Social media can sometimes be dominated by conspicuous displays of wealth: designer outfits, globe-trotting vacation selfies, Michelin-rated food porn. The Familia Fuego doesnt entirely reject those signifiers in some posts, they practice their red carpet struts or cross paths with celebrities but theyre also more interested in mocking the daily struggles of service industry work, as Zapien puts it, than most influencers. A recurring sketch series in which they impersonate retail employees finds them wrangling nightmare customers and fighting over who gets the worst shifts. Other bits center around flaky co-workers, callous HR reps and overfamiliar recruiters.

Its a perspective rooted in personal experience. Before the Fuego house, Zapien, 24 and Mexican American, worked at Walmart, Disneyland and then a bank. I was super shy, he said. And then I was like, Im too broke to be shy.

Now he does TikTok full-time, while his sponsors support him with things such as studio space, housekeeping service and staple food deliveries: Its nice to get paid to do what you love.

Del Valle worked at Disney World before graduating from college in 2020. Of all the TikTok collectives in L.A., Familia Fuego may have the highest proportion of members who can instinctively show you how to do a Disney point, the special hand gesture park employees have to learn.

The rest of the crew followed their own winding paths toward influencerdom. Villa, a 24-year-old Chicana, used to work at a catering company. Ferregur, 21 and from a mixed Mexican Cuban family, did boat rentals. Gonzalez, 27 and also Mexican American, hoped to become a television reporter. He worked at broadcast stations across California and Nevada before a TikTok of him parodying a newscaster blew up and he decided that social media might be a less traumatic career.

Ive never been able to call myself an influencer, Gonzalez said when The Times spoke with him and the rest of the Familia. All five sat around the houses dining room table; Gonzalez had recently passed two million followers on his personal account, and they were celebrating over croquettes and guava pastelitos. But after a content house, maybe youre an influencer.

I still cringe, Ferregur said. I dont call myself an influencer.

In Ubers, I always tell people Im a freelance video editor, Gonzalez agreed.

Before becoming TikTok creators, Alexia Del Valle, left, worked at Disney World in Florida and Jesus Zapien worked at Walmart, Disneyland and then a bank.

(Mariah Tauger / Los Angeles Times)

Monica Villa, a 24-year-old Chicana, used to work at a catering company before joining the TikTok collective Familia Fuego.

(Mariah Tauger / Los Angeles Times)

Ive never been able to call myself an influencer, said TikToker Leo Gonzalez, left. Isabella Ferregur echoed Gonzalez: I still cringe, Ferregur said. I dont call myself an influencer.

(Mariah Tauger / Los Angeles Times)

If the two are uneasy with their newfound celebrity, they arent alone. None of the members think of themselves as famous, Villa said: Well still go to the store, and if someones looking at us were like, why are they looking at us? She and others also said they sometimes struggle with self-doubt or imposter syndrome.

Being Latino in the public eye presents further challenges. Ferregur dealt with racist bullies while growing up in Carlsbad, but now online critics call her whitewashed. And Villa has struggled to find an audience for Spanish-language TikToks; she instead focuses on making English and bilingual ones.

Its a little harder for Latinos to actually grow if youre not doing something super mainstream, she said.

But their heritage has also made it easier for the Familia Fuego to bond with one another. TikTok content houses are common in L.A. the most famous of them, the Hype House, recently became a Netflix show but Gonzalez said a lot of them feel weirdly inauthentic, superficial or careerist.

They do their video, and then theyre just on their phone, he said. Here, we have talked about our fears and dreams. Weve been vulnerable. Weve cried together and prayed together.

The difference, Villa and Zapien agreed, is that the Familia is built around a shared Latino identity every member can relate to.

Los Angeles is as good a place as any to do that. According to Brendan Nahmias, a manager at Whalar who helps oversee the house, all of the Familia members had enormous Angeleno followings even before they moved in together. Del Valle, the New Jerseyan, had a slightly larger following in New York; but the other four have always had their biggest fanbases in L.A., even when they werent living in the area.

Our demo is here, Gonzalez said. Whenever we go to any sort of public place where its Latinos we all have people there who know us.

The location also gives them easy access to Hollywoods Latino elite. Members of the Familia have been able to collaborate with Eva Longoria; eat dinner, while starstruck, with Mexican comedy powerhouse Eugenio Derbez; and attend the premieres of Latino-centric projects such as West Side Story and Gentefied.

When I was in high school, we had those fake Hollywood red carpets at events such as homecoming, Del Valle said. But to be on a real one was surreal.

As full-time influencers, the Familia Fuego are doing what is a dream job for many Americans. Its a dream that few people are able to realize, even as more and more money flows into the social media sector.

Were it not for DirecTV and Whalar recruiting them via an email everyone initially assumed was a scam; Dont get too excited, Ferregurs parents warned her the Familia members might not have been able to pull it off, either.

I wanted [social media] to be my job, but it wasnt, really, Ferregur said. It was very unstable. I was just taking things day by day; I wasnt sure where it was gonna lead. But after coming into the house and being managed by [Nahmias] and Whalar, now it is a stable job.

The Familia arent the first cohort to get that opportunity. Whalar previously ran an all-Black TikTok collective, The Crib Around the Corner, in partnership with DirecTVs then-parent company AT&T. (Sinda Mitchel, a senior vice president at Whalar, declined to say whether a third house is in the works, or what demographic it might focus on were one to happen.)

But the houses arent charity projects. Both the all-Latino Familia and the all-Black Crib focused on fast-growing segments of DirecTV customers that are nevertheless notoriously hard to reach through traditional channels, chief marketing officer Vince Torres said in an emailed statement. The houses were developed to give DirecTV the ability to reach them in an authentic way.

Before making TikToks with the Fuego Familia, Jesus Zapien, left, was shy. And then I was like, Im too broke to be shy.

(Mariah Tauger / Los Angeles Times)

As full-time influencers, the Familia Fuego are doing what is a dream job for many Americans.

(Mariah Tauger / Los Angeles Times)

Aside from slightly more pressure to do good work, all five Fuego members had only positive things to say about their relationship with DirecTV and Whalar, and were optimistic that their time in the house would set them up for future success. The financial underpinnings of their role free housing, food and travel stipends, production equipment, a studio and a paycheck, all in exchange for a fixed number of branded posts each month seem as benign and equitable as they could hope for. And its easy to be enthusiastic about any effort to diversify the influencer landscape, which has been criticized for underrepresenting and underpaying creators of color.

Theyre not just doing a cute Hispanic Heritage Month commercial, Gonzalez said. Theyre literally funding the livelihoods of five creators.

Yet it remains unclear whether this blend of patronage and boutique sponsorship could scale up to the point where it would make a real dent in the broader platform dynamics that still make financial independence a far-off dream for most aspiring influencers, Latino or otherwise.

The creator economy needs a middle class, venture capitalist Li Jin warned in 2020. Long-time social media creator Hank Green recently criticized TikTok for using a pay-out model untethered from corporate profits, making it hard for many users to earn a living. Even going repeatedly viral on the app isnt always enough to break even.

Even if more companies took the same hands-on approach to finding and funding emerging talent that DirecTV and Whalar have, theyd still be tackling the problem at a rate of five TikTokers every six months. TikTok, meanwhile, reportedly has more than a billion users and grows larger by the day.

Though it might not be a systemic solution to creator income inequality, the Familia Fuego project has at least given each member an individual career boost. Now, with just a few weeks left in their residency, theyre looking to the future and to opportunities beyond TikTok.

Segueing into more traditional film and television work is everyones end goal, Ferregur said. She and Del Valle also hope to get involved with the fashion and beauty industries; Villa and Zapien are more inclined toward music. Gonzalez is currently working on a memoir.

But for the time being, TikTok is all of their main gig; and even if they see it as more of a stepping stone than a permanent position, its still a welcome alternative to what they were doing beforehand.

I dont expect for it to be forever but if it can be, thatd be so nice, Gonzalez said. Its never felt like it could be a long-term thing, but right now it does.

Isabella Ferregur hopes to segue into more traditional film and television work and get involved with the fashion and beauty industries.

(Mariah Tauger / Los Angeles Times)

The rest is here:

The real lives of Familia Fuego, the all-Latino TikTok house - Los Angeles Times

New Delhi, Delhi, India (NewsVoir) HarvestPlus and Grameen Foundation India have signed a Memorandum of Understanding (MoU) to increase food, nutrition, and livelihoods security through the production, consumption, and marketing of conventionally bred biofortified crops in India. The collaboration will focus on health and nutrition initiatives, along with financial inclusion and agriculture-based livelihoods, to enable vulnerable populations (especially women) to overcome poverty and hidden hunger. These initiatives will be led by women agripreneurs known as Grameen Mittras, who will provide doorstep availability of various services and develop a personal connection with farmers through regular interactions, thereby cultivating good faith and trust with them. These Grameen Mittras are also transforming their own lives by learning new skills, generating income, and increasing their financial independence. Under this engagement, a pilot with biofortified zinc wheat has been undertaken in Uttar Pradesh under the Commercialisation of Biofortified Crops (CBC) Programme, which is co-led by HarvestPlus and the Global Alliance for Improved Nutrition (GAIN)This pilot focuses on training and capacity building of smallholder farmers (with at least 30 percent women farmers), awareness generation on the cultivation of biofortified crops, and enhancing knowledge of farmers and Farmer Production Organizations (FPOs) on pre-harvest and post-harvest loss and its management. We are delighted with this partnership with HarvestPlus, as it directly helps in advancing our mission to overcome poverty and hunger, said Prabhat Labh, CEO of Grameen Foundation India. By working closely with the Farmer Producer Organizations and progressive farmers, we are popularizing the adoption of biofortified seed varieties, which will go a long way in addressing micronutrient deficiency. Biofortified wheat produced on 1,600 acres in this rabi season will be adequate to meet consumption and nutrition supplement needs of over 60,000 individuals, he added. We are very pleased to have the opportunity to partner with Grameen Foundation to help scale up production and consumption of nutrient enriched crops in India, said Arun Baral, CEO of HarvestPlus. The focus on women agripreneurs in particular is in line with our strategic priority of engaging and empowering women as farmers, family members, and entrepreneurs, he added. About Grameen Foundation of India Grameen Foundation India (GFI) specializes in designing and implementing innovative programs to facilitate access to finance, livelihood opportunities, and health and nutrition information amongst low-income people especially women. GFI addresses demand side and supply side barriers through scalable models, the use of technology applications, and innovative partnerships and work closely with the private sector, governments, agriculture and health implementers, mobile network operators and value-added service providers, financial institutions, and other stakeholders to prime our solutions for adoption and scale. About HarvestPlus HarvestPlus improves nutrition and health by working with partners to develop and promote biofortified food crops that are rich in vitamins and minerals, and providing global leadership on biofortification evidence and technology. HarvestPlus is part of the CGIAR and is based at the International Food Policy Research Institute (IFPRI). Through the work of HarvestPlus and its many partners, more than 270 varieties of biofortified crops have been released in 30 countries around the world.

PWR PWR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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HarvestPlus Partners with Grameen Foundation India to Empower Women through Inclusive Agriculture Approach - Devdiscourse

Wednesday 16 February 2022 9:21 pm

DLA Piper is considering plans for a full merger between the US and international arms of its business, Financial News has reported.

Since being formed out of a merger between three law firms in 2005 one from San Diego, one from Baltimore, and one from Britain DLA Piper has worked as two separate partnerships one of which is based in the UK and the other of which is based in America.

However, DLA Piper is now weighing up plans to fully merge the US and UK sides of its business, according to sources speaking to Financial News.

A merger would see full integration between the two partnerships that form DLAs business.

Although the two partnerships currently share the same board and both work under the DLA brand, they operate independently using a Swiss Verein structure, which allows the two arms of DLAs business to retain their financial independence.

Critics of Vereins says the structure allow for a shallow type of merger, by essentially keeping each partnership separate. A full merger would further integrate the two partnerships.

The two arms currently have separate profit pools, separate management structures, and separate remuneration policies.

As such, a full financial merger would fully integrate the two wings of DLAs business and see the firms share a single profit pool, and take on the same remuneration policies.

While the US arm of DLA only deals with American matters, the UK wing deals with all UK and international clients, in working across Europe, the Middle East, Africa, and the Asia Pacific.

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DLA Piper considering full merger between US and UK partnerships - City A.M.