Category Archives: Financial Independence

As the world embraces digital technology, its arms are also opening to accepting the global evolution currently taking place in the financial space with the advent of digital currencies either owned by governments or controlled by algorithms and technologies.

As digital awareness increases, more people are welcoming of the new digital financial trends and are willing to participate in the markets and gain knowledge to propel financial independence. With this, there is a need for digital financial communities to spring up.

The benefits of digital financial communities where players and new entrants into the financial space converge to leverage on experiences and expertise have a direct impact on the market ecosystem. The communities are beneficial for the literacy and growth of players in the digital financial space which supports the growth of the markets.

The birth of digital financial communities provides for lifelong friendships and bonds with people who share similar interests. These friendships last over time as they learn, dream, discover new opportunities and expand knowledge together. Communities can offer peer to peer mentorships and provide shared resources which allow members to stay on top of new and emerging technology tools. The communities can also provide for teaching and learning experiences that add value and purpose through the converging of minds from different backgrounds to exchange knowledge.

As the world becomes a more global village, as digital financial opportunities make the village even smaller and as markets become easily assessed either by the tap of a button on a mobile device or a click of a keypad on the laptop from any location across the world, digital financial communities make it even easier to partake in the global financial markets, giving a sense of togetherness, encouraging diversity through shared knowledge, improve continuous learning and development and above all, enhancing financial literacy globally.

The enormous benefits of digital financial communities can not be overemphasized as it supports the longevity and acceptability of new financial markets and currencies despite whether it is being backed by governments, algorithms or technologies.

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The Importance of Digital Financial CommunitiesTHISDAYLIVE - THISDAY Newspapers

PARSIPPANY, N.J.--(BUSINESS WIRE)--Summit Financial Holdings, Merchant Investment Management and Fieldpoint Private announced that Summit and Merchant together will acquire Fieldpoints investment advisory unit, establishing a partnership that will deliver Fieldpoint Privates banking capabilities through the Summit advisor services platform, SummitVantage.

When the deal closes, Summit expects to add Fieldpoints unit which today advises on $5.1 billion in total wealth management assets, which would make Summit Financial one of the countrys largest independent wealth management firms, with approximately $12 billion in assets. Moreover, the Summit partnership with Fieldpoints banking unit, which remains independent, will connect the bank directly with all of Summits advisor teams.

Summit has continued to evolve into a 21st century wealth management and financial services firm. In the five years since Stan Gregor stepped in as Chairman and CEO, the firm has executed an extensive series of technology and service enhancements. In 2019, Gregor brought in Merchant, who arrived with long-term and durable equity capital, and gave rise to the launch of Summit Growth Partners. This creative advisor capital solution, offered alongside Summits proprietary technology platform SummitVantage, has helped to more than triple the assets of the firm.

Gregor views the latest strategic move, with Fieldpoint Private, to be one of the few final pieces that will make for a fully integrated chassis of solutions for use by the advisors of Summit and its clients.

The partnership will ultimately expand to north of $100 billion of assets under management within the Merchant community of independent advisor partnerships, positioning the advisors of Summit and Merchant to offer the most integrated banking platform in the independent space, and Fieldpoint Private to emerge as the preeminent bank partner to the RIA community.

Gregor emphasized that the management additions from Fieldpoint to Summit are a natural fit, specifically with proven leader Chris DeLaura, who will now be in the role of President/CEO of the Summit-Fieldpoint division. This continues Summits pattern of attracting exceptional senior operators such as Ed Friedman, who joined the firms executive ranks in mid 2020.

Tim Tully, Executive Chairman of Fieldpoint Private, said the partnership will enable the firm to accelerate its resources and technology toward serving as the leading banking and lending platform for independent advisors and their clients. Independence has been in our genes since our founding, and this alliance is the next logical step in bringing our bank, our capabilities and our belief system to a great many more advisors, families and businesses. Mr. Tully noted that Summit will more than double Fieldpoints potential client base, with Merchant potentially representing multiples of that.

Stan Gregor agreed, adding that this is a critical addition to Summits existing business suite of services. As Summits legacy business enters its fourth decade, we are laser focused on expanding our platform, and enhancing both the advisor and client experience. Our vision has been to build the most comprehensive offering in the independent wealth management industry that elevates our culture of financial planning. Thats what we found with our new partners at Fieldpoint.

Tim Bello, Managing Partner of Merchant Investment Management, added that close-knit partnership is a theme around Summit, and expressed pride at his firms role in bringing the two companies together.

The Fieldpoint brand is highly respected, and Tim Tully and Chris DeLaura are people my partners and I at Merchant consider friends, said Bello. So being able to call them partners is one thing, and then having them join forces with Stan and the team at Summit, which then extends to the broader Merchant family of firms that will leverage the capabilities of the private bank as an option, in a truly open-architecture way, that is quite unique.

Marc Spilker, Executive Chairman of Merchant, feels the truly intriguing piece to the puzzle is what Fieldpoint Private brings as a bank. He said it is coming into the Summit fold in the right way and most certainly at the right time. It is clear that private banking has become more integral to the overall wealth offering. Deposits, credit and trust services are all key components of a familys financial plan and experience. Now with Fieldpoint as a partner, Summit is well positioned to deliver on this promise. As Fieldpoint gets plugged into the SummitVantage offering a real competitive advantage will be created.

Chris DeLaura, who has been at the helm of Fieldpoints wealth advisory business since 2016, feels Fieldpoints advisors will not only be able to improve their client engagement with the fully integrated advisor chassis solution between the two firms, but that the same excitement exists for whats ahead with Fieldpoint having Merchant as partner as well. Our goal has always been to simplify the complex financial lives of our clients with a single point of service for all of their needs, he said. With the group weve assembled under one roof, were well on our way to taking our client experience and service to the next level, building something very special in the process.

About Summit Financial

Summit Financial Holdings, LLCs affiliated firms include, but are not limited to, Summit Financial, LLC, Summit Risk Management, LLC, Summit Advisory Services, LLC, Summit Services IT, LLC, and Summit Growth Partners, LLC.

As an independent financial services firm for almost 40 years, Summit and its affiliates are proud to continue their legacy of guiding clients toward financial success by aligning extensive experience with a forward-thinking philosophy, adapting to industry changes for the sake of best serving our clients now and well into the future. With customized, holistic and hands-on advice, we turn lifes aspirations into success stories. Our financial advice focuses on individual needs and values, not industry norms. To learn more about our firms, please visit our website at http://www.SummitFinancial.com.

About Merchant Investment Management, LLC

Merchant is a private partnership providing growth capital, management resources, strategic opportunities and direction to independent financial services companies, particularly those focused on wealth and asset management. For additional information, please visit http://www.merchantim.com

About Fieldpoint Private

Headquartered in Greenwich, Connecticut, Fieldpoint Privates banking unit holds $1.3 billion in assets and has emerged as one of the fastest growing banks in the country, with assets up 42% from Q3 2020 to Q3 2021. It was recently named Best Boutique Private Bank in the World by Global Finance magazine, and maintains steadfast dedication to understanding clients individual financial circumstances and furnishing unbiased advice and personal service to free up the one resource that, regardless of means, no one can ever have enough of: time. http://www.fieldpointprivate.com

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Summit Financial, Merchant Investment Management and Fieldpoint Private Announce Strategic Investment Advisory and Banking Collaboration - Business...

by Yanis Iqbal. Dated: 1/16/2022 12:12:13 PM

Meanwhile, Pakistans inching closer with China was not liked by the United States. When American finally decided to give arms aid to India in November 1962, Pakistan was not consulted before as was promised to them and this deeply offended the leaders of Pakistan.

On January 10, 2022, National Security Advisor (NSA) Moeed Yusuf said, It [Pakistan] is still not [free from US influence] and I doubt that there is any country which is free from it. He added that the country does not have any financial independence, being dependent on loans from International Monetary Fund (IMF) and other foreign organizations. When we cannot [fulfill] the demands, we seek foreign loans. When you procure loans, your economic sovereignty is compromised. These comments are not entirely stunning; they encapsulate the ambivalent essence of the US-Pakistan relationship. While the Pakistani elite greatly enjoys its self-imposed subservience to the American empire, it never just sits back and rest on its laurels. It continuously tries to exploit what little room for maneuver it has within the bond of servility to further more selfish, regional interests ones which either demand too much from the patron or dont neatly align with the US hegemonic ambitions.AnticommunismUnlike the many postcolonial nations of the time which exuded a great degree of interest in the development of an independent project, Pakistan was totally craven; its creators displayed a surprising lack of enthusiasm in the paraphernalia of sovereignty. They were only interested in somehow securing money, regardless of the consequences which the people would have to face later. Every option was on the table. In The Duel: Pakistan on the Flight Path of American Power, Tariq Ali notes that the new rulers of Pakistan developed an early communal awareness that to survive they had to rent their country. Washington was approached as a possible buyer but it rejected the offer to buy Pakistan as it was busy securing Western Europe and Japan, as well as keeping an eye on China, where the Eighth Route Army was beginning to threaten a Communist victory. However, this did not stop Pakistan from trying to sell itself.Muhammad Ali Jinnah, the founder of Pakistan, continued to consistently market his country as an important ally against Soviet expansionism. Ali remarks that he hysterically insisted that Soviet agents were present in Kalat and Gilgit in search of a base in Baluchistan. These same sentiments were shared in a more sophisticated manner by then foreign minister Zafarullah Khan. [H]e pleaded with the United States to shore up Pakistan, whose people were genetically anticommunist, since this was the best way to protect India against the Soviet Union, which would send its armies through the Khyber Pass. Pakistans persistence in peddling threats about USSR paid off in May 1954 when it signed the Mutual Defense Assistance Agreement, through which the US provided resources and training to the Pakistani army, with the general aim of turning the new nation into a pliant Third World state. In September 1954, Pakistan was officially anointed as a crusader against the godless Communists, joining the Southeast Asia Treaty Organization together with Thailand and the Philippines.Exactly one year later, in September 1955, Pakistan joined another pro-Western organization known as the Baghdad Pact, which included King Faisals Iraq, Iran, Turkey, and Britain. As Pakistan chummed up with its anti-Soviet friends, the inflows of money into the ruling class pockets increased. From 1953 to 1961, Pakistan received around $2 billion in assistance from the US. These wads of cash, however, did not signify a thoroughgoing bilateral camaraderie, one in which the imperialist benefactor would come to the help of its junior partner at all cost. Apart from acting as another chess piece in the anticommunist game, Pakistan served no other significant function for USA. Therefore, the latter felt no need for fulfilling all the demands of the former. In fact, what happened during the initial years of 1960s was the opposite. In United States and Pakistan in the 21st Century: Geostrategy and Geopolitics in South Asia, Syed Tahseen Raza writes:The Sino-Indian Border struggle in 1962 paved the way for closer US-India ties because neutral India, desperate to have weapons in the immediate aftermath of Chinese aggression, made a frantic plea for US help. The US was pleased because this was an opportunity to wean India off the influence of the Soviet Union by offering help in a time of crisis. Meanwhile, Pakistans inching closer with China was not liked by the United States. When American finally decided to give arms aid to India in November 1962, Pakistan was not consulted before as was promised to them and this deeply offended the leaders of Pakistan. The [John F.] Kennedy administration, on the whole, tried to balance the American relationship with South Asia on equal footing and therefore did not view Pakistan as more important than India.Feeling threatened by USAs growing closeness with India, Pakistan extracted from the former, on November 5, 1962, a pledge that it will come to Pakistans assistance in the event of aggression from India. This pledge, nonetheless, did not help Pakistan during the Second Kashmir War (1965) when it undertook dangerous military adventures (Operation Gibraltar and Operation Grand Slam) against India. When the war started, the US cut aid to both Pakistan and India. A similar situation developed six years later. When New Delhi decisively intervened in East Pakistans civil war in late 1971, Washington was unwilling to directly support the Pakistani armys Operation Searchlight against Bengali insurgents (though it did send part of its Seventh Fleet in the Bay of Bengal). The countrys eastern wing seceded to form the state of Bangladesh, dismembering Pakistan in a humiliating way. Spurred by this defeat, Pakistans governing caste realized that the continued existence of the nation was dependent on nuclear parity with India.The development of nuclear weapons was smoothed by conjunctural reasons. In neighboring Afghanistan, the communists, who had backed the 1973 military coup by Prince Daoud after which a republic was proclaimed, withdrew their support from him. In April 1978, the Shah of Iran convinced Daoud to turn against the communist factions in his army and administration. In response to increasingly harsh state repression, left-wing officers in the military stormed the Presidential Palace in Kabul. The government was turned over to Noor Mohammed Taraki, a communist professor who became the President of the Revolutionary Council of Afghanistan. These developments which were extensively supported by the USSR came to be known as the Saur (April) Revolution. The US was terrified. It crafted a subversive plan that made General Zias dictatorship in Pakistan a principal node for sending jihadists to Afghanistan. Singularly focused on destabilizing Afghanistans communist regime, and, by extension, Soviet Union, USA cared less about Pakistan developing its nuclear programme in the 1980s.War on TerrorAmericas benign attitude toward Pakistan changed with the Soviet withdrawal from Afghanistan and the ultimate end of the Cold war. [S]ans the American aim of defeating communism as their top priority, comments Raza, Pakistan was not given any extra consideration. The US Intelligence Report, which had been indicting Pakistan for its nuclear quest, came to be invoked more frequently. When India conducted its Nuclear Test in March 1998, the Bill Clinton administration tried to prevent Pakistan from following suit, offering the resumption of the sale of F-16 aircraft (which had been frozen by George H.W. Bush when he did not certify Pakistans non-possession of nuclear devices) and economic and military aid. But Pakistan demanded more. Raza remarks: Pakistan wanted tough punitive action against India. When the G-8 meeting on 17-18 May 1998 didnt take very harsh measures against India in accordance with Pakistans expectations, bowing to public pressure, Pakistan decided to go for the Nuclear Test, which it ultimately carried out on 28 May, 1998.In response to Pakistans nuclear test, the US imposed sanctions, which included restriction of the provision of credits, military sales, economic assistance, and loans. These were, nevertheless, limited in scope and were not sustained. US-Pakistan relations exited this period of downturn in an explosive manner after 2001, thanks to the murky dynamics cultivated by imperialism in Afghanistan. After the USSR left in 1988, Pakistan maintained a strong footprint in Afghanistan to gain strategic depth against India, continuing to nurture the Islamist extremism that was earlier used to mobilize jihadist fighters from all over the world against USSR. These actions had severe repercussions. When hardhats of jihadism attacked New York in 2001 to express their disgruntlement with Americas bases in Saudi Arabia, the destruction of Iraq and support for Israel, Pakistan was caught in a dilemma. Networks of battle-hardened fighters that it had built along with the USA were now on the attack radar of its imperialist sponsor.With limited options, Pakistan decided to join the US War on Terror, declaring support for the Hamid Karzai government in Kabul. By providing the USA with help in the invasion of Afghanistan, Justin Podur clarifies, Pakistan was able to save its clients and its own personnel from destruction, as much of the Taliban and al-Qaeda crossed the border to Pakistan or went to ground and Afghanistan was taken over by US-friendly warlords. This tactical move had its own disruptive consequences for Pakistans social osmosis. General Pervez Musharraf came to be accused of treason for supporting the USA against fellow Muslims in Pakistan and Afghanistan. This political effect complicated military operations. As the US and North Atlantic Treaty Organization (NATO) made the Pakistan army take action against insurgents operating in Khyber Pakhtunkhwa, casualties increased, eroding the states legitimacy in the region. When Pakistan cooperated with the insurgents on the sly, it faced US threats.ConflictsThe convoluted workings of the War on Terror have had a destructive impact on Pakistans economy. It has lost $150 billion 41% or two-fifths of the countrys total economy size, more than the $13 billion that it received from the US between 1999 and 2013. Since the US invasion of Afghanistan, more than 80,000 Pakistani civilians, security forces personnel and women and children have been killed in gun, bomb and suicide attacks. On average, every year Pakistan suffered losses of $7.7 billion more than the countrys total expenditures on education, health and other social safety schemes. With the growing advance of the Taliban in Afghanistan, current Pakistan Prime Minister Imran Khan wrote an op-ed in the Washington Post in September 2021, saying: Since 2001, I have repeatedly warned that the Afghan war was unwinnable. Given their history, Afghans would never accept a protracted foreign military presence, and no outsider, including Pakistan, could change this reality. Unfortunately, successive Pakistani governments after 9/11 sought to please the United States instead of pointing out the error of a military-dominated approach.Scarred by the War on Terror, Pakistan has been frustrated to see USA establish an alliance with India as part of an anti-China containment strategy. The US and Indian elites have found a common interest in countering China; India is embroiled in disputes on its land borders with China and the US and its allies are contesting Chinas claim to maritime territories across shipping routes in the Indo-Pacific region. It is against this background that Pakistan has returned to Chinas all-weather friendship, initiated in the 1960s by General Ayub Khan who felt betrayed by Washingtons overtures to India in the aftermath of the Sino-Indian border conflict. China has become Pakistans closest strategic ally, supplying it with modern defense equipment. Pakistan supports Chinas stance on Xinjiang, Tibet and Taiwan, and China backs Pakistan on its Kashmir issue with India. Over the past five years, this cooperation has been further cemented by Chinas Belt and Road Initiative (BRI) and its local cognate China-Pakistan Economic Corridor (CPEC), entailing over $60 billion worth of Chinese investments in infrastructure consisting mostly of loans.Despite the economic heft of China, Pakistan still needs Washingtons support, both to get disbursements of its $6 billion bailout package from the IMF and to be removed from the terror-financing and money-laundering watchdog Financial Action Task Forces grey list, a designation that encumbers Islamabads global financial operations. War on Terror cooperation had converted Pakistan into a major non-NATO ally of the US in 2004, granting it various military and financial privileges. The designation had also eased Pakistans access to IMF facilities. With the deterioration of Pakistans relationship with USA, accessing funds has become difficult. In October-November 2021, IMF withheld the release of a $1 billion tranche under an Extended Fund Facility (EFF) to Pakistan until the government agreed to close commercial bank accounts held by the armed forces and other state entities and remitted $17 billion worth of public funds into a single treasury account. It is believed that USA, the single largest financial contributor to the IMF, had a hand in the reform demands.In a June 2021 interview on HBOs documentary news series Axios, Khan had said, Pakistan will absolutely not allow the CIA to use bases on its soil for cross-border counterterrorism missions after American forces withdraw from Afghanistan. To change this policy decision, USA started using IMF monetary policy as a bargaining chip to force cash-strapped Islamabad to agree to Joe Biden administrations counterterrorism operations in Afghanistan. These events highlight the conflictual nature of the contemporary US-Pakistan relationship. And it seems that both the parties have failed to arrive at a proper resolution till now. Yusufs criticism is significant in this regard as he was the one chosen for mending ties with the US. He has spent a decade or more in the think tank and security policy circle in the US capital as associate vice president for Asia at the Institute of Peace, a US government-backed institution. The Pakistani government had recently elevated him from the position of Special Assistant to the Prime Minister to NSA to signal seriousness in creating a new rapport with the US. It seems that Pakistan will have to wait longer for such a reset in relationships.Yanis Iqbal is an independent researcher and freelance writer based in Aligarh, India and can be contacted at yanisiqbal@gmail.com.Originally published in Dissident Voice

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A Short History of the US-Pakistan Relationship - Kashmir Times

Nerissa Reaves, aka Professor Honey, has achieved financial success through hard work and determination. She did not come from money and is no stranger to the struggles of building wealth from the ground up. Her success was not an overnight one, and she now works to help thousands of people to take the right steps to financial freedom.

Honey has a long resume of achievements that helped her to become the financial knowledge source she is today. She has a bachelors degree from Spelman College Magna Cum Laude and a Masters in Education from the University of New Haven Summa Cum Laude. She is also an Alumni for Goldman Sachs 10,000 Small Businesses and an Alumni for Leading Educators. She was a translator for the Japanese Consulate in Kawaguchi, Japan.

Honey has a colorful work history. She was a teacher-turned-restaurateur, investor-turned-model, and, most recently, actress-turned-serial entrepreneur.

Reaves hails from New Haven, Connecticut, and is fluent in Japanese. She was brought up as an academic by a single father who impressed upon her the importance of her studies.

As a child, her father tried to train her to keep her credit high.

But she didnt pick up that financial skill at first. Even though she knew that good credit was crucial to starting a business, she ended up losing everything. This experience humbled her and helped her to move forward and try again.

When a real estate deal went wrong, Reaves had to move onto her friends couch because it left her with no money and unable to afford rent. Even though she had years of investing and business startup experience, not having high credit was her big mistake that could have saved her from this calamity.

Reaves mother became her biggest champion during this time. She encouraged her to keep pushing forward despite her setbacks, and has continued to be a motivational force to this day.

This devastating incident propelled Reaves to become a financial expert by digesting and absorbing everything she could about personal and business credit. She eventually boosted her credit score to 780.

Professor Honeys Credit and Funding Hive teaches people about personal and business credit, helping to restore their credit with a team of financial experts.

Composed of financial experts with credit-boosting know-how, Professor Honeys Credit and Funding Hive is a strategy-rich learning center.

The Hives experts can teach their students to boost their credit up to 200 points. Proven Hive strategies for Experian, Equifax, and Transunion cut through the barriers to financial health and success.

The Credit and Funding Hive reviews, reports and gives students a personalized improvement plan to boost their scores. Then the Hive team works to solidify those scores to ensure they steadily increase. Participants in Professor Honeys Credit and Funding Hive gain access to the Personal Credit and Business Credit Programs and VIP membership to the Hive Affiliate Program. With this program, students have the opportunity to earn around $6K per month of passive income.

Professor Honeys Credit and Funding Hive is primarily a way for people to rid themselves of debt and take back control of their financial standings. On the other hand, the Hive is a learning sphere where students can learn how to establish good business credit, keep their business credit from affecting their personal credit, and simultaneously access business tradelines and funding options.

Were closing the gap between the poor and medium classes, said Reaves. We educate people on how they can leverage their personal credit for home investment opportunities and their business credit to access funding. Its all about building yourself up financially in both sectors.

Reaves said that no matter what your credit situation is, there is always something the Hive team of experts can do to improve it.

She and her Hive team have experience in but are not limited to, foreclosures, bankruptcies, public records, and collections.

Professor Honeys Credit and Funding Hive is not a quick fix.

If you think about it, bad credit didnt happen to you last night while you were asleep, said Reaves. I hate to say it, but you did this to yourself, whether by ignorance or willful mistakes. Restoring your credit to health will take just as long if not longer than it took to get you to its current state.

Students should expect to see higher scores around 30 days from their journeys start date. For the best results, the process can take up to nine months.

I am a resource for funding and lending, and I want people to come to me when theyre seeking financial freedom, said Reaves. I understand that bad credit leads people to hopelessness and depression when trying to better their own lives by starting a business. The experience should be empowering, not limiting.

Professor Honey has helped thousands of people restore their credit over the past two years. Her students have gone on to establish business credit, build their businesses, and earn passive income while on the road to complete financial independence.

Professor Honey is the Founder of The Credit and Funding Hive, helping thousands of people restore their credit, get the funding they need to build their businesses, and establish opportunities for passive income. She has been featured on Today.com, Marketwatch, and Sheen. Click here to learn about her program: http://www.professorhoneyinfo.com/the-hive

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How Nerissa Reaves Puts Financial Health in Your Hands: Learn to Boost Your Credit with Professor Honey - Daily Scanner

In regard to gender justice, things look bleak in the Arab world. Laws typically discriminate against women. National legislation all too often does not comply with the international agreements governments have signed.

Apart from Somalia and Sudan, all Arab countries have signed up to the UN Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW). However, they neither ratified all of its clauses, nor adopted it in national law (UNESCWA 2018). Indeed, legislation often still serves male dominance.

In most Arab countries, men are considered to be the heads of families. Inheritance laws put male relatives at an advantage. Family law is often derived from faith doctrines that make it harder for women to get a divorce or legal guardianship of their children. In most Arab countries, a womans nationality has no bearing on her childrens or husbands citizenship. Women do not have equal access to financial resources. Legal obstacles prevent them from fully participating in public life. They are massively underrepresented in politics.

Discriminating laws result from the male dominance that marks society and is rooted in conventional family norms. A mutually reinforcing dynamic of formal legislation and conservative traditions limits womens choices and constrains their lives. Some rules are obvious, others are barely visible.

Traditions are not codified in writing, but passed on by example. Family members are expected to comply with them and perpetuate them. It is, for example, an unwritten law that women should marry at a young age and that their greatest contribution to society is to serve as mothers and homemakers. The family is always expected to be the top priority, even when a woman does professional work.

To the outside world, the father represents the family. He is responsible for its prosperity as well as its reputation. Accordingly, he has the authority to control female family members. One consequence of this traditional understanding is that the perpetrators of honour killings are often not punished or only get rather mild sentences.

The overall setting is sobering, so more promising family traditions tend not to be noticed. Indeed, they strengthen girls and women and might contribute to more gender equality. In spite of conventional male dominance and legal discrimination, they boost female self-confidence and encourage independent decision-making.

Consider Sarah Rachid, for instance. In her mid-40s, this Lebanese woman remembers how her thinking was shaped by her familys culture: My father always told my siblings and myself to use our brains and never to be misled by people, just because they are highly regarded in society, for example because of religious leadership. Education and independence are values that guide her. She says that even her grandmother enjoyed some financial independence, being in control of her own money.

Female solidarity is strong in her family, Sarah reports. For example, mothers and grandmothers traditionally support young women when they are pregnant, give birth or take care of babies and toddlers. On the other hand, she admits that female family members are generally expected to prioritise family affairs without exception. When she grew up, professional activity and independence were encouraged, but not at the expense of the family.

Men are not expected to do household work. Those who do take up some chores such as cooking or babysitting are unlikely to say so in public.

Over time, family traditions change, though it is often barely noticeable. Better education, urbanisation, new role models and womens rights activism have made a difference. Rana Haddad is the example of a woman who is living her life independently, in spite of having grown up in a conservative Muslim family. Education helped her to find a way for dealing with faith-based norms pragmatically.

She is 40 years old and from Beirut. She no longer wears a headscarf as she did when she was younger. Rana studied psychology and sociology and works for local and international non-governmental organisations in Lebanon. She is single and earns her own money. She says that, 40 years ago, her mother was forbidden to talk with men she didnt know and that her elder sister had to obey strict rules as well. Rana says she appreciates her familys traditions, but has created a niche for herself. Education was the key, allowing her to expand her freedoms. Her family accepts her self-determined lifestyle.

Oppressive traditions persist of course. To some extent, modern communication technology provides opportunities to address them and demand change. For instance, Rayan Sukkar, a young Palestinian journalist has produced video clips in Beiruts Shatila refugee camp. She posted them on Campji.com, so several thousand people inside and outside the camps have been able to watch them. The topic is gender-based violence in families.

The journalist wears a headscarf, but she eloquently speaks without fear or shame. In her surroundings, many girls and women consider her a role model.

ReferenceUNESCWA (UN Economic and Social Commission for Western Asia), 2018: Gender justice & equality before the law Assessment of laws affecting gender equality in the Arab States region:https://archive.unescwa.org/publications/gender-justice-law-assessment-arab-states

Mona Naggar is a freelance journalist based in Beirut.[emailprotected]

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In Arab countries, examples prove that patriarchal family traditions can indeed be changed - D+C Development and Cooperation

Its hard to believe that the founder and CEO of a nearly $20 billionenterprise got his start in life as the son of hard-working farmers in Nebraska who had trouble making ends meet. So much so, they eventually lost the familys livelihood.

Yet it was an experience that informs Ron Carson to this daya story of caution and perseverance.

Because instead of being a victim of circumstance, Ron pressed forward, with an intent of finding a job that had the greatest potential.

And the rest would be an amazing story that Ron shares with Mindy Diamond in this episode, including:

Ron is a best-selling author, a go-to for the industry media, and a true legend in the wealth management world. But most importantly, he has valuable, actionable lessons to sharemaking this episode one that all advisors and business owners can learn from.

Download a transcript of this episode

Listen to more episodes of Mindy Diamond on Independence:A Podcast for Financial Advisors Considering Change.

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Mindy Diamond on Independence: Industry Legend Ron Carson on What it Really Takes to Build a $20B Enterprise - WealthManagement.com

Editorial IndependenceWe want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

Delyanne Barros has a goal to reach a net worth of $1.5 million in 2022, something she never thought was possible when she had $150,000 in student debt in 2008.

All my life I assumed that I would be working full-time until I was 65 years old, she says. Changing that narrative is like having a second chance at life.

If you want 2022 to be a better year for your money, a New Years money resolution might be a good place to start.

New Years resolutions arent for everyone, and theres a lot of space between being thousands of dollars in debt and growing your net worth to $1 million. But for some people, resolutions can be a way to kickstart a new year especially when it comes to money.

If youve got a New Years money resolution in mind, you can help yourself by keeping your goals realistic with specific numbers attached to them and being compassionate with yourself if you fall off the horse at any point. Simply get back on, but maybe approach it differently, says financial therapist Carrie Rattle.

It takes a little while to build self-awareness, Rattle recently told NextAdvisor in an interview on how to stick to New Years money resolutions. Go back to the triggers or the event that derailed you, or the size of your goals. Is it too much? You took your best guess, and now lets try something new.

In the final weeks of 2021, we asked 10 people to share their money resolutions for 2022. Heres what they said, along with some tips you can apply in your own life.

Point of View: Personal finance expert and founder of the Money Coach

2022 Resolution: Reach FIRE (Financial Independence/Retire Early) goal of $1.5 million

How: Barros plans to achieve financial independence through her business and investments, which she says generated 7-figures in 2021. Barros says shes diligent about not inflating her lifestyle too much and funneling most of her money toward her investment accounts, which are primarily comprised of index funds and ETFs.

What You Can Do: FIRE is a movement that encourages people to live below their means, so they have more money to invest toward early retirement or part-time work. Determining your own personal FIRE number is easy, and can be a instructive way to orient your investing goals.

Point of View: Money coach and founder of Money Boss Mama

2022 Resolution: Max out Roth IRA for the first time

How: King plans to increase her direct deposit to her Roth IRA by reducing some nonessential items in her budget and increasing her income through her money-coaching business and side hustles. I am working on a new course that will increase my income and will continue side hustling throughout the year, she says.

What You Can Do: A Roth IRA is a popular retirement savings tool that allows you to grow your wealth over time tax-free. Opening a Roth IRA can be done in just a few minutes, and is a great first step in many peoples investing journey.

Point of View: Personal finance expert and author

2022 Resolution: Continue to educate others on their financial language

How: Jackson wrote a book called The 4 Financial Languages: The Secrets to Communicating About Money, which focuses on figuring out which financial language you identify with the most to help you communicate with your partner when talking about money. She wants to continue to educate people on the topic because it controls how youre going to need to communicate about money, how youre going to deal with money, how youre going to leverage money, and even debt.

What You Can Do: Your mindset and communication style both play big roles in how you manage your money. If you have a negative mindset around money, you can shift it to be more positive by doing a few things, such as changing your money script, having intentionality with your money, and figuring out the balance between self-worth and net-worth.

Point of View: Financial advisor and founder of Bone Fide Wealth

2022 Resolution: Not applicable (Boneparth says hes not a huge believer in New Years resolutions

How: Boneparth isnt a fan of New Years resolutions. He says you shouldnt wait for a specific time in the year to begin pursuing a money goal or aspiration. Instead, you should pursue it when it makes the most sense for you and your financial goals, because theres never a bad time and its never a one-time thing, he says. I know its very different from what people are going to tell you, but Im not a huge believer in New Years resolutions, especially when it comes to money. If this [New Year] is your calling, awesome. But also dont forget this is something you continue to work on.

What You Can Do: If youre not big on New Years resolutions either, here are 40 smart money moves you can make right now or any time from starting a passive income stream to having a money talk with your partner to buying an index fund.

Point of View: Writer at The Points Guy

2022 Resolution: Start paying off her student loan debt

How: Shon has been taking advantage of the federal student loan repayment pause over the last two years, but once it expires, she plans to start chipping away at her student loan debt. She says one challenge will be figuring out how to factor her upcoming loan payments into her current lifestyle, which involves a lot of travel. Im really trying to strategize, pay the lowest interest possible, and fit that into my everyday budget, she says. Its not about paying them off immediately. Its about figuring out a sustainable plan that fits into my whole lifestyle.

What You Can Do: If you have federal student loans, you have a few months until repayment resumes. The pause on federal student loan payments has been extended until May 1, 2022. But there are a few things you can do now to prepare, such as updating your account information, rethinking your repayment strategy, and having a back-up plan if you cant afford payments.

Point of View: Financial therapist and founder of Behavioral Cents

2022 Resolution: Shift her money mindset

How: Rattle wants to work on shifting her mindset around money, because her husband is thinking about retiring. She says they may start using some of their assets, which theyve been saving for their entire lives, and shell have to adjust her mindset to accept not having as much income coming in. Its going to take work for me, because I grew up thinking money is security.

What You Can Do: There are three things you can do right now to end up with the retirement you envision: starting saving, turn saving for retirement into a habit, and a set retirement savings goal.

Point of View: Personal finance expert and founder of popular Instagram account, Personal Finance Club

2022 Resolution: Find more opportunities to donate to charity

How: Schneider reached financial independence at 36, meaning he can live indefinitely without having to work for an income. Because hes still young, he says hed like to continue to grow his net worth through his investments so he can accomplish his goal of donating more to charity. The end goal of money shouldnt be to die with the most in your bank account; rather to maximize its utility while were still here, he says. In short, I think the point of life is to be happy and help people, so Id like to do those things whenever I can.

What You Can Do: An effective way to create change and uplift others is financially supporting nonprofits and companies that are making a difference. And you dont have to look far for example, you can support small businesses in your local economy or even donate your credit card rewards to your favorite charities.

Point of View: Financial advisor and founder of Mitlin Financial

2022 Resolution: Gain a better working knowledge of crypto, Blockchain, and NFTs

How: Sprung says he finds this area fascinating and wants to understand it better, especially since hes receiving more questions from clients about it too. He plans to open an account with Coinbase and educate himself as much as he can by reading and speaking to people who have crypto expertise to learn from them.

What You Can Do: Crypto was a hot topic in 2021, and everyday investors are curious about how and if it can fit into their portfolio. But experts say you should resist the hype, and approach crypto with the same mindset you bring to your regular investment strategy. If youre interesting in investing in cryptocurrency, start by asking yourself these four questions.

Point of View: Personal finance blogger and founder of Save My Cents

2022 Resolution: Sell her New York City home (without a sellers agent to save on commission)

How: In 2022, Saavedras life will change drastically as she moves from New York City to Southern California with her family. It will be a huge transition for our family of three, she says. She plans to accomplish her 2022 goal by talking to others who have sold their own homes in the past to better understand the keys to success.

What You Can Do: Getting the best deal when selling a house is all about making your home stand out while spending as little additional time and money as possible. If youre trying to sell your home like Saavedra, there are several things you can do to optimize your strategy, such as timing your sale appropriately, setting the right price, and making essential repairs, among other things.

Point of View: Personal finance YouTubers

2022 Resolution: Grow their net worth by 50%

How: The Millers want to grow their net worth as quickly as possible in 2022, because they want to become work optional. Their net worth doubled over the last 12 months, and they want to continue doing the same things they were doing in 2021 in 2022: Working, learning, investing, and trying to earn money in ways that arent dependent on their time. They currently have a few sources of passive income, including YouTube. Mike says how quickly they can grow their net worth in 2022 will largely depend on how the stock market performs. We want to be an example that you dont have to work 40 years to be able to retire, he says.

What You Can Do: You can make money in your sleep, literally. Its called passive income, which allows you to have the freedom to live and work anywhere and not rely on staying in one place to earn a paycheck. Here are seven ways to successfully earn passive income.

See more here:

We Asked 10 People About Their 2022 New Years Money Resolutions. Here Are Their Goals, and How You Can Meet Yours - NextAdvisor

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Retiring early seems to be on everyone's minds these days. The growing popularity of the so-called FIRE movement -- short for financial independence, retire early -- is a testament to how much everyone seems to be craving a slice of "the easy life." The good news is that in many U.S. states, what most people would call an "early" retirement is within reach. Although "full retirement age" for Social Security purposes isn't until age 67, the average retirement age in every single state -- with the exception of the District of Columbia -- is below 67. On average, retirees in the U.S. hang up their work boots at age 64, according to Money Talks News.

Read More: Social Security Cost-of-Living Adjustments Aren't Enough To Pay Higher Costs for SeniorsFind Out: Here's Exactly How Much Savings You Need To Retire In Your State

Of course, to truly live a comfortable retirement takes more than desire -- it also takes a large chunk of cash.

Check out when you can expect to retire, based on your state of residence.

Sean Pavone / Shutterstock.com

Average retirement age: 62

Annual cost of a comfortable retirement: $49,099

Retirement savings needed: $883,790

Save More: Savings Tricks From Regular People Who Are Sitting on Millions

wanderluster / Getty Images

Average retirement age: 61

Annual cost of a comfortable retirement: $79,249

Retirement savings needed: $1,505,740

Watch Out: 14 Key Signs You Will Run Out of Money in Retirement

Sean Pavone / Getty Images/iStockphoto

Average retirement age: 63

Annual cost of a comfortable retirement: $58,327

Retirement savings needed: $991,560

Related: What Is a Roth IRA?

Tizod / Getty Images

Average retirement age: 62

Annual cost of a comfortable retirement: $47,836

Retirement savings needed: $861,053

Read: 17 Biggest Budgeting Mistakes You're Making

EQRoy / Shutterstock.com

Average retirement age: 64

Annual cost of a comfortable retirement: $83,279

Retirement savings needed: $1,332,457

Helpful: 19 Effective Ways To Tackle Your Budget

Shutterstock.com

Average retirement age: 65

Annual cost of a comfortable retirement: $60,357

Retirement savings needed: $905,350

Story continues

Check Out: Best Cities To Retire on a Budget of $1,500 a Month

DenisTangneyJr / Getty Images/iStockphoto

Average retirement age: 65

Annual cost of a comfortable retirement: $70,817

Retirement savings needed: $1,062,257

Read: Tips To Keep Your Finances in Order Without Sacrificing What You Want

benkrut / Getty Images/iStockphoto

Average retirement age: 63

Annual cost of a comfortable retirement: $58,418

Retirement savings needed: $993,101

Related: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet

zorazhuang / iStock.com

Average retirement age: 67

Annual cost of a comfortable retirement: $94,248

Retirement savings needed: $1,225,222

Try: 50 Easy Things You Should Do To Save Money

Sean Pavone / Getty Images/iStockphoto

Average retirement age: 64

Annual cost of a comfortable retirement: $56,382

Retirement savings needed: $902,116

Stop Now: 50 Terrible Ways To Try and Save Money

SeanPavonePhoto / Getty Images

Average retirement age: 63

Annual cost of a comfortable retirement: $50,066

Retirement savings needed: $851,122

Find Out: Things To Cut Out Right Now To Save Money During the Health Crisis

zorazhuang / Getty Images/iStockphoto

Average retirement age: 66

Annual cost of a comfortable retirement: $120,909

Retirement savings needed: $1,692,722

Read: 25 Tips for Saving Money With Your Spouse

KingWu / Getty Images

Average retirement age: 64

Annual cost of a comfortable retirement: $52,962

Retirement savings needed: $847,388

Helpful: 16 Effective Ways To Trick Yourself Into Saving Money

Randall Runtsch / Shutterstock.com

Average retirement age: 64

Annual cost of a comfortable retirement: $54,657

Retirement savings needed: $874,507

Good To Know: 16 Splurges That Save You Money in the Long Run

traveler1116 / Getty Images

Average retirement age: 63

Annual cost of a comfortable retirement: $50,697

Retirement savings needed: $861,848

Keep Reading: 25 Ways To Save 20% More of Your Paycheck Without Even Trying

benkrut / Getty Images/iStockphoto

Average retirement age: 65

Annual cost of a comfortable retirement: $52,399

Retirement savings needed: $785,982

Try: Cutting Out These 25 Expenses Will Save You $16,142.08 a Year

Sean Pavone / Getty Images

Average retirement age: 65

Annual cost of a comfortable retirement: $50,223

Retirement savings needed: $753,339

Learn More: Surprising Ways Gen Z and Millennials Are Worlds Apart Financially

Sean Pavone / Shutterstock.com

Average retirement age: 62

Annual cost of a comfortable retirement: $51,082

Retirement savings needed: $919,469

Exclusive: Americans' Savings Drop to Lowest Point in Years

Susanne Neumann / Getty Images/iStockphoto

Average retirement age: 62

Annual cost of a comfortable retirement: $52,695

Retirement savings needed: $948,503

Read more:

The Average Retirement Age in Every State - Yahoo Finance UK

The year 2021, was full of surprises and shocks. For some, this year gave them everything they wanted to achieve, while for others, the year wasnt that great. From an investing standpoint, the stock markets experienced a record bull run with a pinch of volatility, making investors happy.

As we welcome 2022 with open arms, here are 7 investing goals to achieve in the new year:

Pay Off Debt

If you have resorted to debts/credit cards in the past and have any amount outstanding, it should be your first goal in the new year to repay all of them. Taking loans will put you in a vicious cycle of paying EMIs from which escaping gets difficult as time passes. Hence, pay off your loans and start paying positive EMIs (starting investments via SIPs).

Segregate Goals According to Tenure

While making investments, it is better to segregate them according to your goals such as short, medium, and long-term. This will help you in deciding the right investment avenues for each tenure. For instance, short-term goals can be fulfilled by investing in debt instruments, whereas investments for the longest terms can be channelled to equities, as temporary declines in stocks in the near term wont affect your goal.

Stay Away From Fancy Investments

In this era, everyone is running behind fancy investments like cryptocurrencies. You should not get swayed by these themes and refrain from investing in them. The primary reason for this is that these are unregulated investment avenues. And their prices are easily manipulated by several influential people and the fundamentals of the basis of their pricing are also not yet clear. Keeping it simple is the key!

Aim for Financial Independence

If you are young, you should aim to get a step closer to achieving financial independence this new year. Financial independence is a state where an individual no longer needs to worry about his/her expenses. Passive income from investments is enough to take care of the monthly expenses. It is a state where one is free to willingly work and pursue various hobbies.

Do Not Buy Stocks Only Based on Price

One of the most severe mistakes that investors do is to trade stocks solely based on price. This is more prevalent with penny stocks where investors tend to buy a particular stock just because its price is quoting in single digits. But one aspect everyone seems to forget is that 100% capital will be lost whether a Rs 5 share or a Rs 200 share goes to 0! Hence trading stocks based only on price is a dangerous mistake.

Never Stop Learning

The stock market is an avenue that requires no qualification or degree. But here, you must never stop learning. The day you stop learning is the day you stop growing. To let your thought process evolve each day, reading or viewing credible stock market resources should be done on a continuous basis. A more difficult thing is to unlearn old things but relearn the new ones.

Do Not Try To Make Quick Money

The year 2021 in the stock markets has seen a record bull run. And due to this, many newbie investors have jumped into the sea in hope of making some quick bucks. One thing you as an investor should know is that there is no easy money to be made in the stock markets. The stock market is a machine to transfer money from the impatient to the patient, says Warren Buffett.

These are the investing goals you should aim to achieve in 2022! Determine your investment objectives as early as possible in life, as hesitating might lead to issues that are difficult or impossible to solve.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

See more here:

Teji Mandi Explains: 7 ways to save and invest more in 2022! - Free Press Journal

Cecilia is in love but her family says he is too educated to be a second wife. [File, Standard]

Our social lives and relationships are faced with a number of challenges; especiallywhen a major decision is supposed to be made.

On Wednesday, January 5, (after our series took a break during the holidays) we published, on our Facebook page Standard Digital a relationship dilemma by a woman who met a new man, whom she feels more comfortable with, a month after her engagement.

Hi-Standard,First, Happy New Year.My name is Cecilia, I am 32 years old.I dont have a job yet, but my partner, who is married, has been paying my bills, including rent, food, upkeep and leisure. He has been doing that, without fail, for almost 5 years now.For context purposes, I would say he spends almost Sh80,000 on me every month.I love him, but my family says Im too educated and beautiful to be a second wife. I recently met a young man; he is 34 years old. He loves me so much. He has asked for my hand in marriage. Id really love to have a man of my own, but Im not sure if Ill get the same level of financial comfort and peace from the new man.Im confused on whether to break things off with my current partner, or to reject the new mans proposal. Please help.

READERS RESPONSES

Charity Gitobu: That imagination that you are beautiful and educated has failed you in life. If at all you are educated why can't you utilize that education to make your own money and leave other people's husband's alone? Opportunist is your other name.

Jackie Bob: Marriage has become a mere contract. All statements here are full of transactional elements and lack in emotional features. This is a financial advisor needed, not normal people like us.

Juliet Mboya: Get married as a second wife and give us feedback. Where is that 34-year-old we tell him to stay away from you because if you're cheating on him now then you're definitely not good for him.

Bellah Rose: Sh80,000 for 5 years yet you dont even have a business running? You are in your comfort zone.

Humble Guy: Start by saying you're a second wife for us to figure out how to advice you. It seems you are stuck between the Sh80,000 monthly and a new guy whom you're not sure of. Make a decision wisely before you start being a motivational speaker.

Calvin Agesa: This is a case of a woman who has settled her mind on being a married man's playmate, to put the term politely, where he even knows he can use, abuse and dump her when he feels like. The one holding the purse strings is well aware that she is attracted to the money like a bee to a sunflower's nectar. The gentleman with no job stands no chance, given these circumstances. Sad tragedy.

Paulz Nguruson: You're too educated and beautiful to be independent.

Gee Ndichman: Stop being ignorant there is nothing like my own man in male kingdom

Angela Mwareri: Unless you want to become a motivational speaker, stick to your partner. Assume the 34-year-old and continue with your life. Love is important but money is also very important.

Macreen Hazel: My dear since you are well educated you can get a job or even start a business for your financial stability, accept the Second guy.

EXPERTS RESPONSE

Dr Karatu Kiemo is a sociologist and lecturer at the University of Nairobi.

Cecelia you are a lucky person to have two people who love you and want to be in your life.

What we normally find is person A who loves person B but who doesn't reciprocate to A but is pursuing C and C is pursuing A but A is only interested in B.

If love is what your heart desires, then you are OK. But marriage is another thing altogether.

You cannot marry the two men peacefully. If you want a man of your own as you say, then the answer is obvious.

If that happens then you have to kill the first relationship to avoid love triangle that has caused many deaths as we all know too well based on media reports.

Killing the first relationship may not be easy and you require some wisdom and tact.

I mean it's not going to be easy for a man to let go where he has been investing 80k per month and investing his emotions.

To avoid the so common love tragedies of our times, please consider visiting a professional counsellor.

Finally, dear Cecelia gets a job, self-employ or enrol in some training program. Your dilemma is to a large extent caused by your lack of financial independence.

I suppose that if you could afford to pay your own bills, then you would not have to bother whether or not to be a second wife. Invest in yourself and in due course the pieces of your life will hold together.

Read more:

Relationship Dilemma: I love him but my family says I'm too educated to be a second wife - The Standard