Category Archives: Financial Independence

NEW YORK--(BUSINESS WIRE)--On February 15, the Museum of American Finance will present NFTs: Welcome to the Metaverse, a timely virtual panel discussion with leaders in the NFT (non-fungible token) market to discuss the current explosion and future opportunities within this crypto segment. NFTs are a family of crypto assets that hold ownership of unique data linked to a blockchain (e.g. Ethereum). They are typically packaged as digital collectibles, works of art, music, video game items, real estate of virtual reality platforms, and concert tickets. With the NFT market exceeding $27 billion, the panelists will discuss those factors that separate this highly profitable digital market from the rest, including:

The panel discussion will be moderated by Michael Maloney, Adjunct Professor at Fordham Law, and will include an introduction by Ronny Yakov, Chairman & CEO, OLB Group.

Panelists include: Michael Amar, Co-founder, Paris Blockchain Week Summit & Paris NFT DayBenjamin Cole, Loschert Chair in Entrepreneurship, Gabelli School of BusinessDevika Kornbacher, Partner, Vinson & Elkins LLPJames C. Row, Founder and Managing Partner, Entoro Capital, LLC

The program will be held on a virtual platform from 5:00 6:15 pm (ET). The panel discussion will be followed by audience Q&A. It is free to attend, but advance registration is required. More information can be found at http://www.moaf.org/events/nft. The event can be accessed at https://moaf.brandlive.com/nfts-welcome-to-the-metaverse/en/registration.

NFTs: Welcome to the Metaverse is sponsored by OLB Group. It is presented in partnership with the Fordham University Gabelli School of Business.

About the Museum of American Finance

As a socially relevant organization, the Museum of American Finance seeks to improve understanding of the influence of financial institutions and capital markets on the US and global economies, and on individuals lives. The Museum is dedicated to educating the public on finance and financial history through exhibits, financial literacy programs and public events. An affiliate of the Smithsonian Institution, the Museum seeks to empower individuals of all backgrounds to strive toward financial independence, while encouraging curiosity and discovery. For more information, visit http://www.moaf.org or connect with the Museum on Facebook or Twitter.

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Museum of American Finance to Present Virtual Panel on NFTs: Welcome to the Metaverse - Business Wire

TAIPEI At age 18, Taiwanese can live independently, get married, stand trial as an adult, and even get called up to serve in the military but they cannot vote in presidential and legislative elections. A quarter of a century after democratization, Taiwans national voting age has remained at 20 despite years of discussion and slow changes designed to enfranchise 18-year-olds.

Since 2017, Taiwanese citizens aged 18 and over can vote in national referendums and in 2023 they will officially be recognized as adults, opening the door to financial autonomy as they will be able to access loans, credit cards, and rental contracts.

Whether they will also be able to choose their president and representatives will depend on whether a constitutional amendment can overcome major obstacles.

Standing in its way, potentially, are conservative social views that still see 18 and 19-year-olds as politically immature. The move also faces opposition from the Chinese Nationalist Party or Kuomintang, one of Taiwans largest political parties. Supporters of the amendment include the ruling center-left Democratic Peoples Party and the centrist left-leaning New Power Party two parties popular with younger voters as well as the centrist Taiwan Peoples Party.

I think the kids right now are quite different from the old days, obviously. Theyre more mature, more informed, more educated, said legislator Lo Chih-cheng, the director of the DPP International Affairs. So, I think its the right time for them to have the right to voice their own rights.

Lo told VOA in January that the voting amendment has moved through the committee process and the DPP hopes to see a vote by the end of March so it can be put to a referendum in November. Thresholds are high, however, as it would require the support of three-quarters of legislators and then more than half of eligible voters. It is also possible that the vote could get pushed to the next legislative session, according to authorities at the DPP International Affairs.

Taiwanese youth ignited a political storm in May 2014 when they occupied the legislature to protest a trade bill with China that they feared would give too much leverage to Beijing. While the trade agreement is long gone, the political groups and ideas that came out of the demonstrations have entered mainstream Taiwanese politics.

The Sunflower Movement is widely credited in DPP President Tsai Ing-Wens win the 2016 and then 2020 presidential elections after she adopted many of its platforms. Chief among them has been a move towards depicting Taiwan as an independent entity from China, even though it is claimed by the Communist Party in Beijing.

Still, there is historic skepticism towards young voters in Taiwan and greater East Asia. South Korea only lowered the voting age from 20 to 18 in 2019, following in the footsteps of Japan, which amended its laws in 2015.

Public support for lowering the voting age in Taiwan has also largely fallen along party lines.

A 2021 study by National Chengchi University on Taiwans elections and democratization found that while more than half of DPP supporters agreed with lowering the voting age in 2021, more than two-thirds of KMT supporters opposed it, according to polling data shared by a Lowy Institute report.

The KMT is likely aware that 18- and 19-year-olds are unlikely to vote for their party, which typically courts older or business-minded voters, said Timothy Rich, who researches electoral politics as an associate professor at Western Kentucky University and Director of the International Public Opinion Lab.

Partisans at this point could certainly anticipate that an increased youth vote would help certain parties and not others, Rich told VOA.

Changes in the voting age are expected to benefit the DPP but also smaller parties with pro-independence platforms. While the addition of 18 and 19-year-olds votes is not expected to shake national politics, they could tip the balance in races with tight margins and possibly earn one or two more seats for small political parties.

The biggest and least appreciated effect, however, could be disrupting the KMTs deep roots across Taiwan. Despite losing the support of young voters in recent presidential elections, the party still has a sizeable base and political influence in local politics. But an influx of young voters could begin to weaken their base, said Rich.

These are often close races, ones that often do not actively court a youth vote. I could imagine that potential candidates could look at previous races, see how similar candidates performed without the youth vote, and anticipate where they would have a chance, he said.

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Movement to Lower Taiwan's Voting Age to 18 Gains Momentum - VOA Asia

In 2019, EQ3 and SOS Childrens Villages Canada launched a partnership to help support some of the most vulnerable children, young people, and families around the world. With a focus on supporting programs in countries within the EQ3 supply chain Indonesia, India, Mexico, Vietnam, and Canada the three-year partnership has seen staff, customers, and suppliers make a direct difference in the lives of vulnerable children, youth, and families.

EQ3 has raised over $90,0000 to support our work through a combination of company gifts, employee engagement campaigns, in-kind donations, and matching gifts. To date, this generosity has allowed us to empower and change the lives of children, youth, and families in Indonesia and Mexico. Notably in Canada, EQ3 helped to fully furnish an SOS home and two Youth Intensive Housing Program suites, giving families a beautiful space to call home and supporting youth in their transition to independent living in British Columbia.

Some of the highlights of the partnership include the impact they have created for vulnerable children, youth and families in Mexico, Indonesia, and here at home in Canada

In 2020, EQ3 employees were invited to help choose which program to support, and Mexico was selected.

Nearly 60 % of the population of Huehuetoca, Mexico, lives in conditions of urban poverty. Many of Huehuetocas residents recently migrated from rural areas where they used to make a living as subsistence farmers.

Now in the city, they do not possess the skills that would allow them to find work and their situation often worsens. Unable to find work, most are unable to meet their familys basic needs such as food and clothing. Indigenous women and girls in Mexico also face added social, economic, and cultural marginalization, making access to education, training, and secure employment even more difficult.

In 2020, EQ3 supported 150 families in Mexico, most of whom were unemployed single mothers, struggling to take care of their many children or grandchildren.

With EQ3s investment, Indigenous single mothers were supported to find employment and received access to skills training to generate an income. One of the trainings provided thanks to EQ3s support was in textile printing techniques (silkscreen).

Participants were taught the skills needed to start and sustain their own business, like accounting and other technical skills. Within a few years, and thanks to their small business, many mothers are expected to reach financial independence and be able to afford their childrens education and healthcare, improve their home, and provide their family with three meals a day.

Like many urban areas in developing countries, Jakarta is coping with numerous social problems, such as poverty, unemployment, and homelessness. Families from other urban and rural areas continue to move to the capital city in search of a better future.

However, life in the capital is often difficult for people with little education or training. Jobs are scarce and many parents are unemployed, unable to afford food, education, and healthcare for their children.

Single mothers in particular struggle to secure a job; without access to day care for their children, they cannot find employment or are forced to leave them unattended while they are at work.

Funds raised by EQ3 in 2021 will go towards supporting 228 vulnerable families and more than 600 children in Jakarta facing extreme hardship.

SOS Family Strengthening Program in Jakarta responds to the needs of vulnerable families struggling to care for their children and prevent child abandonment. As most of the program participants are un- or under-employed entrepreneurs, income-generating activity trainings for struggling parents is offered.

With the support of EQ3, vulnerable parents receive entrepreneurship trainings in various areas such as how to breed chickens, grow vegetables or fruits (watermelons and melons) and produce eggs for market sale, as well as patchwork crafts, hairdressing, and other creative industries. Upon completing their training, participants receive a loan to help them buy the necessary equipment to launch their business and are supported until they reach financial independence.

In Canada, EQ3 is helping Indigenous youth navigate pathways to independence through SOS Childrens Village British Columbias Youth Intensive Housing Program.

For youth in British Columbia leaving the care system, they can face significant challenges. The Ministry of Children and Family Development cuts off financial support for care leavers at 19, the result has left many young people unsupported and moving in and out of homelessness.

This intensive 12-month program provides housing to youth in a supportive environment, while they build the essential skills to prepare them for independence. The program offers support to young people by not only providing housing but also by placing a strong emphasis on life skills, self-management, and wellness.

In addition to being provided fully furnished suites thanks to the support of EQ3, program participants are entitled to take all the furnishings with them once they have completed the program. This includes everything from a bed to appliances in the kitchen. Thus, giving the program graduates all the tools they need to transition into independence.

We are incredibly grateful to the entire EQ3 team who have shown so much drive, enthusiasm, and compassion towards helping the worlds children facing so much adversity and lack of opportunities. Together, we are transforming the lives of our young people and laying the foundation for a brighter future. All of this would not be possible without the support of the EQ3 Spirit Team, staff, senior management, and customers.

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EQ3 Partnership: Three Years of Giving and Impact - SOS Children's Villages Canada

Nannie Helen Burroughs, Educator and SuffragistBlack female activists have dealt with double discrimination throughout U.S. history, making the achievements of early-20th century educator and suffragist Nannie Helen Burroughs particularly remarkable, said Sharon Harley, associate professor of African American studies. A longtime champion of Burroughs, Harley is now writing a full-length biography, Nannie Helen Burroughs: Standing Up for Justice, which will be published in 2023 by Yale University Press.

Nannie Helen Burroughs was a Washingtonian, a black Baptist feminist thinker, an educator and a staunch advocate for Black working-class women. Burroughs founded, in 1909, the National Training School for Women and Girls in northeast Washington, D.C. Her Christian-based religious beliefs motivated her to build the vocational school that promoted racial advancement and womens empowerment.

She helped to lay the foundation for modern Black feminist theology, joined in labor organizing and teamed with others to establish early foundations for modern-day movements to gain justice for African Americans and women. She used a savvy approach to womens education to support their financial independence. She was a courageous woman ahead of her times, determined to be a vocal advocate for the dignity of girls and womens labor within and even beyond the Christian tradition.

I came to admire Burroughs for standing up for women's rights and advocating for poorer domestic service workers despiteor because ofher own humble roots. Though I knew little about her or her school that I passed on a daily basis growing up in Washington, D.C., I now know how she was an amazing woman leader who needs to be known more broadly.

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Five Black Pioneers You Should Know About - Maryland Today

BIRMINGHAM, Ala.--(BUSINESS WIRE)--RFG Advisory, an innovative and fast-growing platform for independent advisors, has been recognized as a 2022 Best Places to Work for Financial Advisers by InvestmentNews. InvestmentNews honors outstanding employers in the financial advisory business who invest in building a work environment and culture that attracts the best employees every yeara distinction RFG Advisory has received two years in a row based on employer and employee surveys.

We are beyond grateful to receive this accolade yet again from InvestmentNews and collectively share it with a team of A-players who put forth the maximum effort into everything they do, said Bobby White, CEO and Founder of RFG Advisory. Financial advisors who affiliate and join RFG do so because of an innovative culture that sets them apart and gives them a true competitive advantage. Culture is the lifeblood at RFG Advisory, a badge of honor we wear proudly.

RFG Advisory is humbled to receive this rewarding recognition from InvestmentNews for two years in a row, on behalf of the financial advisors we love serving, said Shannon Spotswood, President of RFG Advisory. An unrelenting focus and dedicated commitment to the well-being of our community serves as our North Star. This reflects back the tech-enabled innovation and distinctive Servant Heart-Warrior Mindset culture that RFG is known for.

InvestmentNews collaborated with Best Companies Group, an independent research firm specializing in identifying great places to work, to create the survey and recognition program.

Weve all seen the value of a great work culture over the past year, and InvestmentNews is excited to once again recognize those firms that are taking a lead in providing great financial advice and being a great place to work, said George Moriarty, Chief Content Officer at InvestmentNews.

RFG Advisory has achieved accelerated growth and notable industry recognition in the wealth management industry beginning with this two-time recognition for Best Places to Work for Financial Advisers by InvestmentNews. RFG was also named Best Places to Work for Financial Advisors in 2021 and a Finalist for the InvestmentNews Innovation Awards 2021. Furthermore, in 2021, Dany Martin, MBA, partner and wealth advisor at WFA received the InvestmentNews 40 under 40 Award. RFG Advisory was named an Innovation Awards finalist and Best Places to Work. In 2020, RFG President Shannon Spotswood was recognized as a Women to Watch honoree by InvestmentNews.

Moreover, in 2021, RFG received two ThinkAdvisor LUMINARY Awards in Thought-Leadership and Education. For two years, RFG has been named a finalist in the wealthmanagement.com Industry Awards in 2021 and 2020 for non-custodial support platforms and a Top 300 RIA by Financial Times in 2020.

To learn more about the InvestmentNews 2022 Best Places to Work for Financial Advisers, please go to Bestplacesforadvisers.com.

Learn more at RFG Advisory at https://www.rfgadvisory.com/ and follow RFG Advisory on LinkedIn, Twitter, Facebook and YouTube.

About InvestmentNews

InvestmentNews is the leading source for news, analysis and information essential to the financial advisory community. Since 1998, our standard of editorial excellence and deep industry knowledge has allowed us to educate, inform and engage the most influential financial advisers. Through our weekly newspaper, website, newsletters, research, events, videos and webcasts, InvestmentNews provides exclusive and up-to-the-minute news, as well as actionable intelligence, that empowers financial advisers to serve their clients and run their businesses more effectively whenever, however and wherever they need it.

InvestmentNews' headquarters is located in New York, with an office in Washington D.C. InvestmentNews is part of London-based Bonhill Group plc.

About RFG Advisory

RFG Advisory is an innovator in the wealth management industry. Passionately committed to serving independent financial advisors and their clients, RFG Advisory prides itself on being a service company first, a technology company second and a hybrid-RIA third. RFG Advisory delivers a turn-key integrated platform that provides Advisors all of the tools and resources they need to be the CEO of their practice, not the COO, including turn-key technology, institutional-caliber investment management, marketing, compliance, business consulting and operational support. Focused on amplifying independence, Advisors who affiliate with RFG Advisory maintain all of the equity in their business and pay a basis point fee for access to RFGs investment and technology platform. Additionally, through RFG Capital, the firm buys stakes in advisor practices to facilitate succession planning and provide loans to advisors to enable the move to full independence.

Securities offered by Registered Representatives through Private Client Services. Member FINRA/SIPC. Advisory products and services offered by Investment Advisory Representatives through RFG Advisory, a Registered Investment Advisor. Private Client Services and RFG Advisory are unaffiliated entities.

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RFG Advisory Recognized as a 2022 Best Places to Work for Financial Advisers by InvestmentNews for Second Consecutive Year - Business Wire

On the Shelf

Love in the Time of Contagion: A Diagnosis

By Laura KipnisPantheon: 224 pages, $26

If you buy books linked on our site, The Times may earn a commission from Bookshop.org, whose fees support independent bookstores.

It is unsurprising that the strongest chapter of Laura Kipnis new book, Love in the Time of Contagion, is Vile Bodies: Heterosexuality and Its Discontents.

In the last 10 years, the critic has written on the repercussions of #MeToo and feminisms carceral turn. After her article on the accusations of sexual harassment lodged against Northwestern professor Peter Ludlow appeared in the Chronicle of Higher Education, Kipnis was the subject of a Title IX investigation. She was exonerated, but when her last book, Unwanted Advances: Sexual Paranoia Comes to Campus, was published in 2017, one of Ludlows accusers sued Kipnis and her publisher, Harper Collins.

It makes perfect sense that Kipnis would want to weigh in on #MeToo, but what does #MeToo have to do with the COVID-19 pandemic? The two do often attack the same host: Harvey Weinstein was convicted of rape and sexual assault and contracted COVID in prison in March 2020, while Donald Trump, who has also been accused by dozens of women of sexual harassment and assault, assured the country that the virus was no big deal. (Then-President Trump contracted COVID in October 2020.)

Its been said, Kipnis relates, that a leaders body signifies the dilemmas of a nation. How terrifying! For Kipnis, though, its not just about gross men but rather our disgust with heterosexuality itself. The fact is, Kipnis writes, that women finding men disgusting is a modern achievement.

Which makes me wonder, she continues, how much womens increasing financial independence, including the option to live life without a man or choose queerness in any of its flavors, has contributed to men seeming so much more encroaching and disgusting these days, including their jokes and their mild overtures? To put the question in more sweeping terms, can heterosexuality survive gender parity?

I appreciate the provocation. There is something exhilarating about the idea that women no longer have to tolerate powerful men if they are ugly. But shouldnt the goal be for men to cede power over women no matter what they look like? Also: choose queerness?

There is much to unpack in the Vile Bodies chapter: a discussion of BDE; the downfalls of Anthony Weiner and Jeffrey Toobin; the policing of out-of-office behavior (is the treatment of the workforce more humane when theres no off-the-clock?); Asia Argento; and sexually liminal behaviors like innuendos, come-ons, banter, stolen kisses.

For many women, Kipnis writes, especially of the heterosexual persuasion, these in-between zones are what makes life worth living.

That may be so for Kipnis and some of her friends, but to say for many women especially of the heterosexual persuasion reader, this writer spit out her coffee.

The passage is a good example of where Kipnis can take a step forward and another back: An indictment of capitalisms totalizing intrusion into our lives quickly followed by the assertion that a similar encroachment, in the form of unprovoked sexual intrusions, simply makes life worth living.

The books other chapters Love and Extinction; Love on the Rocks, on dependency in relationships and alcohol; and Love and Chaos, on the difference between Kipnis experiences and those of her student Zelda, queer, Black, and very online feel hollow, especially in comparison to the verve with which Kipnis attacks the giant wagging finger over sexual misbehavior.

Entertaining the intent of the majority of this book, which is to investigate how the pandemic has affected our relationships, is a big ask, especially when Kipnis excludes the experience of parents, caregivers and those who have suffered enormous losses: the loss of agency, of loved ones, of their health. Although she burglarize[s] Marx we dont make love under circumstances we choose, we make love under the circumstances we inherit her book misses the opportunity to speak on how a lack of sexual desire might reflect the realities the pandemic has laid bare: a labor and care crisis of apocalyptic proportions.

If youre reading this you recently survived a massive worldwide extinction event, congratulations, the book begins. On another but not entirely unrelated subject, hows your love life? Ultimately, Im not convinced that being in isolation (partnered or not) has had much of an effect on our understanding of love. Its Kipnis questions about monogamy, and in particular heterosexuality, that seem worth asking. They existed before the pandemic and during. Heres hoping that by the end of all this, were not too exhausted to keep asking them.

Can we have heterosexuality without heteronormativity? Kipnis asks. I think the answer is a resounding yes, especially if we ever hope to dismantle the cruel economic structures that have reasserted themselves during a generational health emergency, forcing women to quit their careers and the working class to sacrifice its safety.

Kipnis closes the book with a collection of anecdotes she read online during the pandemic: the miserable, bored and the lovelorn airing their complaints in the time of contagion. Our relationship requires a social village more than I realized, one person wrote. One person isnt enough for me. Wondering what might be enough, or at least closer to it asking ourselves, as Kipnis writes, does it feel good? is the right place to start.

Ferris most recent book is Silent Cities: New York.

Excerpt from:

Review: Laura Kipnis on COVID: 'Love in the Time of Contagion' - Los Angeles Times

Its not the first time Targets fashion department is making headlines. You probably remember how these floral farm dresses from Target got roasted so badly online that there was even a #TargetDressChallenge. This time, however, a cute little crochet sweater is in the spotlight. You may wonder whats wrong with it, and TikTokers have some eye-opening answers.

Somethings fishy about it, TikToker @seatrick said in a viral video adding that everyone whos ever tried to knit or crochet anything is gasping at that price. Turns out, this boho piece will set you back $35. Sounds like a bargain? Well, the low price hides something much more sinister as, apparently, no industrial machines could replicate such a delicate pattern, @seatrick claims.

Meanwhile, another TikToker, @MattRose1312, calculated the amount of time it would take to crochet a sweater like that, and its a clear red flag of human labor. All the arguments stack up and you can see how sinister fast fashion can be.

Image credits: target

Image credits: target

Image credits: target

Image credits: seatrick

Image credits: seatrick

Image credits: seatrick

Image credits: seatrick

Image credits: seatrick

Image credits: seatrick

To find out what experts have to say about Targets infamous crochet sweater and whether its really possible to make one for a retail price of $35, we spoke with Danute Rasimaviciute. Danute is the co-founder of The Knotty Ones, a sustainable knitwear label that celebrates the Baltic craft of knitting and the people behind their clothes. They employ female artisans in rural Lithuania to produce their knits, giving them a living wage, financial independence, and a voice in their households and communities. Danute told us that they use natural materials only and put sustainability at their core.

When asked whether its possible to make a crochet sweater for a retail price of $35, Danute said that the short answer is no. At least not without sacrificing the wellbeing of people making our clothes, she said.

Moreover, The Knotty Ones had a number of their artisans take a look at Targets crochet sweater and they estimate that it would take roughly 24 hours of non-stop crocheting. That is 3 full business days, assuming 8-hour working days, Danute said. There are multiple color yarns used for the cardigan, meaning that there would be a lot of loose yarn endings. All of these need to be nearly tucked and covered which is really time-consuming, she added.

Image credits: seatrick

You also have to take into account the cost of the yarn itself, labels, transport of all raw materials, photoshoots, transport to the stores, not even talking about Targets margin, Danute explained. We estimate that there was roughly 600g of yarn used for this crochet piece. The price for a kilo of cotton yarn could range anywhere from $3.5 to as much as $100/kg for more premium, hand-dyed sustainable yarns.

Danute argues that this definitely begs the question of how the cheapest yarns were produced and what people got paid there. When you do the math, its pretty clear that people who crochet the piece, assuming it was done by hand, made even less than $1 an hour, so literally cents, she told us.

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TikTokers List Red Flags That Show This $35 Target Crochet Sweater Is Horrifyingly Unethical - Bored Panda

After graduating from college, Michael and Olivia Zuber thought they were doing everything right.

"We got advanced degrees, we got good jobs, and we put money away in a 401(k)," Michael, 49, told Insider. "And we thought we were supposed to save a little bit extra and put it in the stock market."

He started day-trading stocks in his 20s. It worked for a couple of years he turned $7,000 into nearly $200,000, he said but he lost the majority of his money, about 80%, when the dot-com bubble burst in 2000.

"It was a very eye-opening and disheartening moment," he recalled. "You go from feeling like you're able to take care of your family and you're going to have a good future to realizing that you're not as smart as you think you are."

Down but not out, Michael decided to explore alternative ways to invest his money. He went to a bookstore to look for investment books and was drawn to "Rich Dad Poor Dad" by Robert Kiyosaki. "It stood out on the shelf because it's purple," said Michael, who has since read the personal-finance classic more than 10 times.

Kiyosaki introduced him to the concept of "having money make money," he said. "I'd never really had a conversation about how money works and how the rich get richer by owning assets." With that in mind, he and Olivia decided to try real-estate investing.

It started as a way for them to get back on track financially and rebuild their nest egg. Their goal was simple: Live below their means, save enough to buy one rental property, and start earning passive income. Executing these principles turned into a path to financial freedom. Today, the Bay Area-based couple owns over 100 units in Fresno, California, and earns over $100,0000 a month in rental income. Insider reviewed their real-estate portfolio summaries that showed these details.

Their success didn't happen overnight: The Zubers have been investing in real estate for the past 20 years. For the first decade, "I wasn't even thinking about financial freedom," Michael noted. It wasn't until the 10-year mark that they realized the rental income they were earning could eventually exceed their day job income and even lead to early retirement.

And that's exactly what happened. In 2015, Olivia quit her 9-to-5. Michael followed suit in 2018 and left his software job.

"I'm lucky enough to say that every day is Saturday," said Michael, who now spends his days sharing the couple's financial independence journey through his platform, One Rental At A Time, which includes a YouTube channel, book, and courses.

Here's how the Zubers gradually built up a real-estate portfolio that now generates six figures in passive income a month.

The Zubers started by cutting back on things like eating out, entertainment, and vacations in order to save for their first rental property.

"We realized we weren't going to be able to grow our real-estate portfolio very fast if we spent all of our money," Michael said. "So we made a conscious decision to sacrifice. We went from spending 100% of our take-home to spending 50%."

Next, they spent time figuring out where they wanted to buy. After a year of looking in their backyard, they realized that purchasing real estate in the Bay Area, one of the most expensive housing markets in the US, wasn't practical. Fresno, which was about a 2 1/2-hour drive from their home, fit their criteria. It had a large population and diverse employment base, among other promising qualities, Michael said.

Once they settled on Fresno, the Zubers defined what they call a "buy box" or, "a very focused area in a city," Michael said. Most cities are too big to learn all the ins and outs. If you considered listings across all of Fresno, for example, there would be thousands.

"Most new investors are all over the map," he said. "The first step any new investor needs to do is focus. If you're going to be a buy-and-hold investor in a new area, get a buy box and make it hyper-focused."

Your buy box should consist of 20 to 40 active listings, and it's not just the specific area you're defining it's the type of property, too, he noted. The Zubers were looking specifically for 3- and 4-bedroom single-family homes between 1,250 and 1,700 square feet in a particular ZIP code.

They picked their ZIP code after spending hours driving through Fresno, going to open houses, and looking at rental listings. "That's what you do in the beginning," Michael said. "You have to learn your buy box. The more you know it, the better your chances at finding a great deal. You can't be casual. It has to be purposeful and intentional."

The first rental property they bought was a $107,000 single-family home, the Zubers said. They saved up enough to put 20% down, which is standard if you're buying an investment property rather than a home to live in.

Two weeks after closing, they rented out the property for $1,095, which was in accordance with the "1% rule" of real estate they were following at the time. "This rule claimed that if you buy a house for $100,000 or less and then rent it out for $1,000 or more a month, you were golden," Michael explained. The Zubers no longer follow this rule, he said, but it served them well in their early years of real-estate investing.

Michael and Olivia continued working full time and living on half of their income in order to save more and buy more real estate. "We sacrificed for well over a decade," Michael said. "We didn't take trips; we didn't get new cars; we didn't upgrade the house."

They bought five more properties over the next two years, all within their buy box, and rented them out. After three years of staying hyper-focused in one area, their portfolio had grown to the point where they agreed it was time to expand their box within Fresno. They also started looking at multiunit properties (their first six properties were all single-family homes), which is ultimately the strategy they settled on.

In 2008, about six years into their real-estate investing journey, the housing market crashed, which ended up working in their favor. Over the next four years, they more than doubled their portfolio, adding a handful of multiunit buildings in the process of being foreclosed, including one 18-unit building.

They bought everything they could, said Michael, who spent time researching past real-estate crashes to understand the smartest way to buy during a downturn.

As the Zubers continued investing in more and more properties, they created clear roles and responsibilities in order to keep up with their side hustle. "My job was to find deals," Michael said. "Olivia's job was to run the operational management and do the books. We were on the same page since day one."

They also had a property manager from the get-go. It was an investment they felt they had to make, he said. "Our market was 2 1/2 hours away. We didn't know anyone there. We would have failed miserably without a property manager."

Employing property managers allowed their rental income to be essentially passive, even as they acquired more and more properties. "Most people would be shocked at how little time we spend on our portfolio," Michael said. "We're probably spending five to eight hours a month and most of that is done on the phone or through email."

In 2015, the Zubers decided they were making enough money from their rental properties that Olivia could quit her 9-to-5. "We looked at our expenses for a year, made sure we could live without her income, and then she left work," said Michael, who quit his job in 2018.

Today, their portfolio consists of a variety of properties, including duplexes, triplexes, and 10-, 13-, and 18-unit buildings.

They're always looking to grow. "We added some units last year and we'll add more this year," Michael said. "It's always a great day to do a great deal, so I look at my market every day."

As for specific money or net-worth goals, "I don't have any more," he said. "I have more than I ever thought was possible." Rather, he's focusing on sharing his and Olivia's story to inspire other people to set the goal of achieving financial freedom via real estate. He wants to help 1 million people secure their first rental property through online resources like his YouTube channel and book.

Smart real-estate investing requires time in the market, Michael stressed. "A lot of people want to time the market, but it's time in the market. That's how you get wealthy. The longer you hold an asset, the wealthier you will become. It is amazing what happens to a portfolio after you've owned it for 10 years."

If you want to get into real estate, be prepared to grind for at least a couple of years, he added. The first three to five years can be slow because you have to save for a down payment, build a cash reserve to cover unexpected expenses, and potentially dip into that reserve to pay for renovations and maintenance.

Plus, he said, you'll be handling scenarios you've likely never experienced before. He's learned to handle everything from tenants not paying rent to fires that have destroyed properties. "Everything the first time is scary: The first time you have to evict, the first time you replace a water heater, the first time a roof leaks. But you just have to learn from it and move on."

If you're patient for a couple of years, though, you could really start to reap the benefits of real estate, he said.

Michael said anyone can achieve financial freedom through real-estate investing. And you don't need 100 rental properties to do so. "If you get four, your life changes," he said. "You can make work optional in 10 years. You just have to sacrifice. It takes work and effort, and the first four years are hard."

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How a Couple Used Real Estate to Build Wealth and Income, Retire Early - Business Insider

It's no secret that the stock market can put you on a path to financial independence. Unfortunately, many investors lack the patience required to realize that dream. Generally speaking, life-changing wealth doesn't accumulate overnight. But with a long-term mindset and a diversified portfolio, you can earn a fortune before you retire.

Case in point: $200 invested each week would be worth more than $1 million in 25 years' time, assuming an annualized return of 10%. And I think that's reasonable. The S&P 500 has generated an annualized return of 10.2%over the last 25 years, so a portfolio of hand-picked stocks could do even better.

With that in mind, both Shopify (NYSE:SHOP) and MercadoLibre (NASDAQ:MELI) could set you on a path to retire with $1 million. Here's why.

Image source: Getty Images.

Shopify's mission is to make commerce better for everyone. To that end, its software helps merchants manage sales across physical and digital stores, including custom websites, online marketplaces like Amazon, and social networks like Meta Platforms' Facebook. Shopify also provides value-added services like payment processing, discounted shipping, and money management solutions, in addition to thousands of integrations through the Shopify App Store.

In short, the company offers an end-to-end solution for modern commerce. That value proposition has drawn more than 1.7 millionbusinesses to its platform, and those businesses are spending more money over time as they adopt value-added services. For instance, Shopify Payments handled 49%of gross merchandise volume in the most recent quarter, up from 45% in the prior year. That means switching costs are rising, because merchants are becoming increasingly dependent on Shopify.

That trend has translated into tremendous financial growth. Over the past year, revenue rose 71% to $4.2 billion and gross margin ticked up 152 basis points to 54.5%. As a result, free cash flow skyrocketed 150% to $458.2 million. And Shopify is well positioned to maintain that momentum as e-commerce becomes more mainstream.

Of particular note, Shopify is constructing an extensive fulfillment network across the United States. Building on its 2019 acquisition of 6 River Systems, a company that specializes in collaborative mobile robots and warehouse software solutions, the Shopify Fulfillment Network will lean on automation and artificial intelligence to help merchants deliver packages more quickly and cost effectively.

Looking ahead, management puts its market opportunity at $153 billion, but that figure only accounts for small- and medium-sized businesses (SMBs). And while SMBs are the core of its clientele, Shopify Plus -- a platform engineered for larger enterprises -- has seen adoption by merchants likeNetflix and McCormick. If that trend persists, Shopify's addressable market will continue to expand.

Either way, the company has plenty of room to grow. And if Shopify continues to execute, I think it could achieve a $1.1 trillion valuation in 25 years' time, which implies an annualized return of 10%.

Image source: Getty Images.

MercadoLibre has revolutionized retail in Latin America. The company launched its online marketplace in 1999, positioning itself as a first mover in the regional e-commerce space. A few years later, it rolled out its fintech platform Mercado Pago to facilitate digital transactions on the marketplace.

That move was particularly savvy, because a high percentage of consumers in Latin America lack bank accounts or debit card, making it difficult to shop online. To that end, Mercado Pago has seen tremendous success, so much so that it has expanded beyond MercadoLibre's marketplace to other websites and brick-and-mortar retailers. In fact, the fintech platform now handles more payment volume off-marketplace than on-marketplace.

Fueled by its forward-thinking, MercadoLibre has parlayed its first-mover status into a durable competitive advantage. Today, it ranks as the largest online commerce and fintech ecosystem in Latin America, and its marketplace receives more visitors and sees more page visits than any other rival. Not surprisingly, the company's dominance in two high-growth industries has fueled impressive financial results.

Over the past year, revenue skyrocketed 89% to $6.3 billion, and the company posted a GAAP profit of $1.59 per diluted share, up from a loss of $0.16 per diluted share in the prior year. Also noteworthy, MercadoLibre's take rate -- revenue divided by total payments -- rose on both its marketplace and fintech platform, suggesting that clients are becoming more dependent on its technology. That's good news for shareholders.

Currently, MercadoLibre's market cap sits at $51 billion. But given the sizable market opportunity in both e-commerce and digital payments, I think that figure could easily surpass $555 billion in 25 years' time, a pace that would represent 10% annualized growth. That's why this stock could help you retire with $1 million.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Want to Retire With $1 Million? 2 Unstoppable Growth Stocks to Buy and Hold - The Motley Fool

This column is aimed at business owners. Consider Joe Brown. He owns a closely held enterprise, a productive farm. Its a sizeable spread, and he employs well-paid help. They till, plant, water, prune, weed, and fertilize. Throughout the hot summer they monitor the crop, keeping birds and pests at bay. But, wonder of all wonders, come fall Farmer Brown fails to harvest his crop! The planning, labor, nurturing...all wasted! Theres no financial return at seasons end on the time, talent and treasure expended.

This isnt a fairy tale. Failure to harvest happens every year. Roughly 70%-75% of all businesses put on the market annually do not sell. Ultimately there may be a harvest of sorts for some, but it falls well short of expectations and the financial needs of the owner and his or her family.

The oldest baby boomers turn 76 in 2022. The youngest boomer will turn 58; a mid-point boomer, 67. Consider the vast number of boomer-owned firms. Eventually every business will transition. The transition may be planned. It may be unplanned, precipitated by one or more of the 5Ds death, disability, divorce, disagreement, distress. A sole owner or key owner may retire, voluntarily or involuntarily. Some owners assert, I will never retire. You WILL retire. You may go out the door on a gurney, but you will retire!

The pandemic has spurred a jump in retirements as nose-to-the-grindstone owners and workers reassess meaning and purpose. We are about to witness a cascade of owners attempting to harvest the fruits of longtime labors.

Citing a 2016 Exit Planning Institute survey of middle market business owners, 63% of private businesses are owned by boomers. The business often represents 80%-90% of their net worth. Outside of a residence, vacation home and 401(K), little may rest in investments external to the business. To what extent does your financial independence and that of your family post-transition depend on harvesting a given inflation-adjusted value from your business?

Thats a critical question considering that 76% of owners plan to transition within 10 years, yet most have no solid plan. Consider how fast the last decade raced by. How much time do you really have to evaluate your business, determine the future value needed to secure your envisioned future, and take steps to grow a transferable, harvestable enterprise value that meets your goals?

Many business owners want to transfer their business to a family member. Families are complicated! Is the family business part of a larger family enterprise? How do you deal with family members who will not join the business? How do you know if the designated family member really wants to enter the business, or is suited for the envisioned role? Success beyond the second or third generation is rare. How will a family member as successor impact loyal and key non-family employees? Will they leave the business? Of owners who want to exercise an intergenerational transfer, fewer than 30% do so.

Developing a short- and long-term business continuity and succession strategy simply is good business. The heart of a strategic continuity plan is a Value Acceleration Methodology. Step One is to Indentify Current Value. Evaluating a number of factors produces a range of value estimate. You may or may not need a formal valuation initially. The real value is what a fully informed buyer would pay for your business.

Step Two is to Protect Value, a de-risking strategy. What are the risks to value? What risks can be insured? What risks can be managed, minimized, or eliminated?

Step Three is to Build Value. Theres a big difference in the value of a lifestyle business and a transferable enterprise. Owner dependence is a huge detriment to value, a hard reality for a typical in charge owner. Transferable human capital value is important. Yet, many entrepreneurs went into business because they were not administrative types. They did not set out to manage people, but as a business grows, team development and employee on-boarding, retention, and engagement becomes a key component of transferable value.

Step Four is to Harvest Value. Do you know what all of your options are? Most dont. What are the pros and cons of an intergenerational transfer, management buyout, sale to existing partners, qualified Employee Stock Ownership Plan (ESOP), non-qualified employee stock ownership plan, sale to a third party, recapitalization, or orderly liquidation?

Step Five, Manage Value. Many transition plans do not involve 100% cash up front. You may have an earn-out or other factors that impact payments over time relative to the sustainable value of the business after the initial transfer of full or partial ownership. Whats your post-sale value sustainability and growth plan?

One year after a sale or transfer, over 70% of former owners have regrets. Theyre bored! You can only travel so much, play so much golf. Your children and grandchildren love you but theyre busy. Your spouse may not be accustomed to you being home all the time! Whats your after-harvest plan to sustain purpose, meaning, passion, and engagement with life? Whats your plan to sustain physical as well as fiscal fitness?

Lewis Walker, CFP, is a financial life planning strategist at Capital Insight Group; 770-441-3553;lewis@lewwalker.com. Securities & advisory services offered through The Strategic Financial Alliance, Inc. (SFA). Lewis is a registered representative and investment adviser representative of SFA, otherwise unaffiliated with Capital Insight Group. Hes a Gallup Certified Clifton Strengths Coach and Certified Exit Planning Advisor.

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Opinion: A tale for the closely held business owner: a failure to harvest - Appen Media