Category Archives: Financial Independence

BlueChip'sresearch shows that investors have changed the investments they are seeking, but not their appetite for investment. In 2020, BlueChip's customers came in greater numbers, intending to start their journey to financial independence.

The catastrophe of COVID-19 has affected economies differently, and most industries are grappling with it. Although, the investment market landscape has remained remarkably buoyant, as the pandemic is fuelling a greater need for global wealth preservation and growth.

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Plend has raised 700,000 in a pre-seed equity funding round ahead of its planned launch into the peer-to-peer lending sector later this year.

The P2P consumer lending platform said the funding came from venture capital firms including Tomahawk VC Ascension and Haatch, alongside NBS Ventures, which is a part of Nationwide Building Societys Incubator.

Plend will specialise in personal unsecured credit using open banking data to predict the affordability of a potential borrower over the lifetime of the loan.

The platform said it will assess creditworthiness in a fairer way, to tackle the problem that 13 million people in the UK are held back by a lack of affordable credit.

Read more: Plend co-founder changes job title ahead of four new hires

Were on a mission to personalise credit scoring and create a fairer way to assess creditworthiness, said Robert Pasco (pictured right), co-founder and chief executive of Plend.

By making smarter lending decisions based on a persons actual behaviour and current financial position, we will be giving financial independence to millions of people currently excluded from life-changing loans.

Im one of the 13 million and I have a deeply personal experience with the blunt instrument that is our current outdated and odious credit scoring system. This investment is a big step towards creating a world where everyone is treated fairly and can access affordable finance.

Read more: Plend mulls IFISA and SIPP ahead of July launch

Financial wellbeing is crucial to living a happy and healthy life, said James Pursaill (pictured left), co-founder and chief technology officer at Plend.

Whether youre young or retired, returning expat or immigrant, unbanked or just trying to make ends meet, were determined to better understand your financial situation and offer a more affordable loan so you can get on and do more with your life.

Were also excited to be building a community of retail investors who want their money to have an impact and make a real difference to peoples lives.

In June, it emerged that Crowdcubes co-founder and chief marketing officer Luke Lang was joining Plend and last month the platform revealed that it is making four appointments from September onwards for data science, marketing and compliance roles.

Inan exclusive interview withPeer2Peer Finance Newsin May, Pasco and Pursaill highlighted the social and ethical ambitions of the business.

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Plend raises 700000 in equity funding round ahead of P2P launch - P2P Finance News

El Salvadors Bitcoin legal tender bill passes into law on Tuesday, September 7, despite objections from locals who appear to be against its implementation.

Nonetheless, soon after the Congressional vote in June, President Bukele said the law would pass, and nothing will stop it from happening.

I dont see this being stopped, this is going forward every day. Were just going to announce a lot of interesting things thats going to move the project even forward

To mark the occasion and pump the BTC price, the r/Bitcoin subReddit will initiate a mass Bitcoin buy at the time the law passes.

The idea is also gathering support in a Brazilian subReddit as well, adding to the strength of the movement. Brazil gained independence from Portugal on September 7, 1822, making tomorrow an ideal date to show solidarity with El Salvador.

Echoing shades of the WallStreetBets saga earlier this year, Reddit becomes the focal point once again for a coordinated market move.

Back then, GameStop and AMC became a battleground for amateur traders sounding off their discontent with short-sellers, and the financial system in general, by pumping the aforementioned stocks.

This spilled over to crypto, with many attributing Dogecoins all-time high of $0.74 directly to the uprising.

This time around, in the hopes of replicating the buying frenzy, r/Bitcoin, which has 3.3 million members, is building steam with the idea that everyone buys $30 of Bitcoin at 5 pm Central Time on September 7 the time El Salvadors Bitcoin bill passes into law.

@nakamoneys tweet on this has so far garnered over eleven thousand likes, almost three thousand retweets, and had over four hundred comments.

BREAKING:At the same time El Salvadors #bitcoin bill will become law, at 3pm September 7th, a huge Brazilian Reddit community, with more than 3 million members, will buy $30 in #bitcoin each, remembering that Sep 7th is Brazils independence Day. More and more users are joining.

Whether this has the same impact as WallStreetBets remains to be seen. But either way, as President Bukele stated, nothing will stop the Bitcoin law from passing, marking September 7 as a historical day regardless.

Critics have argued that this event is market manipulation of the highest order. And, if pulled off successfully, as in the case of GameStop, it forces a major disconnect between price/valuation and fundamentals.

@nakamoney countered this by saying such a movement is better described as supporting the financial independence of citizens in developing nations.

Sunday saw Bitcoin break $50,000 and close the day well above at $51,700. While the accompanying volume was not convincing, it still marks a 16 week high for the leading cryptocurrency.

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Reddit community to buy $30 in Bitcoin in show of solidarity with El Salvador and Brazil - CryptoSlate

Islam provides women with education rights, financial independence, unilateral divorce, and guarantees their dignity, and the Taliban should follow these principles if they are sincere.

After the culmination of the United States' longest war, Kabul fell to the Taliban on August 15. As a result, Biden faced the Saigon moment with diplomats being airlifted out of the US Embassy while many Afghans were likewise desperate to escape the country. On the other side, the Taliban tried to project a more tolerant attitude, unlike during their previous rule between 1996 and 2001.

To strike a moderate tone, the Taliban vowed to respect women within the framework of Islamic law. During their past governance, women had been suspended from work and girls were banned from school. Gender apartheid was codified. Naturally, people have had their reservations concerning recent promises given such a background.

But what does within the framework of Islamic law mean exactly?

Initial thoughts will likely revolve around modern-day patriarchal heaven that would not go amiss in a Hollywood movie. Regrettably, this comes from a lack of nuance and misunderstanding of the relationship between Islam and women.

From a religious perspective, the Prophet Muhammed says, "Seeking knowledge is an obligation upon every Muslim." Today, 3.7 million children in Afghanistan are out of school, and 60 percent of them are girls. Moreover, while both partners should be free to ask for a divorce, the man-favoured system impedes Afghan women from exercising that right. The Quran also teaches that a woman has a right to work and keep her earnings. Still, the number of working women in Afghanistan for 2019 is 22 percent. Furthermore, the World Health Organization reveals that almost 90 percent of the women in the country were exposed to at least one form of violence. What happened to paradise lies under the feet of mothers''?

This hypocrisy and the colonialist interference in the region have led to Mortons fork situation for the women. When the Taliban talks about religious rules, the world seamlessly accepts their Islamic narrative. Subsequently, the image of an abandoned and to-be-protected Muslim woman conveniently remerges. As she is now in danger, her only salvation became another holier-than-thou.

The European Parliament stated that "For Afghan women and girls, this means systemic and brutal oppression in all aspects of life." Meanwhile, Greece completed its 40-km fence border with Turkey to prevent a possible migration wave. And Estonia, for its part, is ready to accept a whopping30 Afghan refugees.

Between the devil and the deep blue sea

In a similar vein, former US President George Bush criticized Joe Biden for the withdrawal, remarking that Afghan women and girls could "suffer unspeakably hard at the hands of the Taliban." That is ironic, keeping in mind his "war on terror" that killed more than 47,000 Afghan civilians (including women). Twenty years back, then-first lady Laura Bush said in a radio address that "the fight against terrorism is also a fight for the rights and dignity of women." Fast forward to now and there are bodies falling from planes trying to flee Kabul and Afghan women are at the bottom of the global gender gap report.

Now comes the White Feminism issue. In her recent book 'Against White Feminism,' Rafia Zakaria, an attorney and author, defines a White feminist as someone who "refuses to consider the role that whiteness and the racial privilege attached to it have played and continue to play in universalizing white feminist concerns, agendas, and beliefs as being those of all feminism and all feminists." At some point, the perception of a needy woman becomes more important than the womans existence at all.

Bringing this back to the region, the Taliban has emphasized that women would be expected to wear the hijab but not the burka. But that is not merely a religious symbol. Nima Naghibi, Associate Professor at Ryerson University, points out that the Western sees the veil as a barrier and way to the heart of the Orient. Indeed, Oriental men accept the veil as a national and cultural honor. Correspondingly, Deniz Kandiyoti, Professor at the SOAS University of London, says that conservative beliefs, shaped in the atmosphere of colonization, is the only way to resist foreign occupation and to preserve traditions. On that line of thought, "a woman's possible liberation" is perceived as an attack on the family.

Ultimately, Afghan women become victims that have to be rescued by people with white saviour complexes. Conversely, as the Taliban spokesperson said, "These are not our rules; these are Islamic rules," saying it is "for their security." Both sides benefit; the West has someone to save, and the Taliban someone to protect. Leila Ahmed, Professor at the Harvard Divinity School, explains that in such situations, women, stuck between their pious/nationalist identity and the Wests idea of women, have to choose "between betrayal and betrayal."

In the end, Islam itself provides women with education rights, financial independence, unilateral divorce, and guarantees their dignity. These principles are at the heart of Islamic rights and should guide the Taliban if they are sincere.

Aristoteles says, to hold womens subjugation is a natural and social necessity. On the same line, the world still favours preserving that image. Hopefully, all the chaos could be a chance for the West and Taliban to reconsider their positions on Afghan women.

Source: TRT World

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Can the Taliban 'really' give the Afghan woman her Islamic rights? - TRT World

Elizabeth Holmes, founder and former CEO of Theranos, may claim that intimate partner abuse ... [+] contributed to her behavior at the company. (Photo by Yichuan Cao/NurPhoto via Getty Images)

Jury selection was completed last week in the trial of Theranos founder and CEO Elizabeth Holmes. Federal prosecutors have charged Holmes with fraud relating to the blood-testing startup.Holmes and Theranos former COO and president, Ramesh "Sunny" Balwani claimed their technology could test for dozens of health conditions with a single finger prick of blood. Federal investigators and a Wall Street Journal reporter discovered it couldnt, and now Holmes and Balwani are facing charges for defrauding investors, doctors and patients.

In unsealed court documents, attorneys for Elizabeth Holmes wrote, For over a decade, Ms. Holmes and Mr. Balwani had an abusive intimate-partner relationship, in which Mr. Balwani exercised psychological, emotional and [redacted] over Ms. Holmes. They continue, This pattern of abuse and coercive control continued over the approximately decade-long duration of Ms. Holmes and Mr. Balwanis relationship, including during the period of charged conspiracies.

As a result of these allegations, theres speculation that Holmes defense will suggest that intimate partner abuse contributed to her actions at work.Although many think of domestic violence as a personal issue, it can result in significant repercussions for physical and mental health that impacts work life too. For example, the Center for Disease Control (CDC) reports that victims of domestic violence lose nearly 8 million days of paid work per year in the U.S., resulting in a $1.8 billion loss in productivity for employers. When you add in the costs of medical care, the cost of domestic abuse rises to a whopping $5.8 billion per year.

California State University Professor Emeritus Mindy Mechanic is serving as an expert on intimate partner abuse in Holmes trial.Naturally, Mechanic cannot speak about Holmes case, but she did offer to share her knowledge about the different ways that domestic violence can play out at work.

What Is Intimate Partner Abuse?

Although most of us likely think of physical violence when we hear about intimate partner abuse, Mechanic says its really about control.She points out that physical violence is just one of four abusive tactics adopted to control victims.The most common tactic is emotional and psychological abuse which, according to Mechanic, includes behaviors like name-calling and verbal abuse; gaslighting; undermining someones self-esteem; isolating victims from friends, family and sources of support; restricting access to other resources including finances; controlling who they see, what they do, what they read, what they watch and what they listen to.

Sexual assault and coercion, and stalking and harassment are the other two primary strategies employed by abusers.Although these four strategies may seem like they have little overlap, Mechanic says they share a common thread.The underlying goal of a perpetrator in these kinds of cases is to keep their partner controlledto get their partner to do what they want them to do, she says.

Most victims report experiencing a variety of these abusive tactics.One study that followed women experiencing intimate partner violence found on the majority of days (62%), no abuse occurred; on 27% of days, the women suffered psychological abuse alone and on 6% of days, victims experienced both psychological and physical violence.

Repercussions Of Partner Abuse At Work

Suffering this type of abuse at home would naturally have repercussions in the workplace.If somebody is being harmed and threatened, they are living in a state of fear, looking behind their back, looking over their shoulder, always wondering whats going to happen. People who have suffered intimate partner abuse or violence can suffer PTSD (post-traumatic stress disorder), they can suffer depression, they can suffer anxiety, they can suffer panic attacks, they can cope maladaptively by using substances to try to quell their anxiety or self-medicate for depression, says Mechanic. In addition to mental health issues that may impact job performance,victims may also miss work due to doctors visits or because they dont want to show up at work with bruises or a black eye.These could all add up to productivity losses as well.

Although many abuse victims suffer symptoms consistent with PTSD, Mechanic points out that PTSD often doesnt fully capture the victims experience.PTSD assumes that the traumatic event is in the past, and for many victims, the real threat of abuse continues while they are experiencing symptoms consistent with PTSD.This makes abuse victims experience with PTSD unique. Mechanic suggests that a different name for the disorder (peri-traumatic instead of post-traumatic) might better capture the victims experience and help clinicians target coping strategies to meet the unique needs of abuse victims.

Mental health issues arent the only problem victims face at work.Abusers can also directly interfere with a victims ability to do their job. Mechanic says they might try to sabotage the partners career by losing the victims keys so that when its time to go to work, theyre stuck at home. Abusers may show up at the victims job or place tracking devices in their car, their phone or laptop to monitor if the partner is where theyd said they would be.If the abuser is also a work colleague, they can track and control even more activities like their partners meetings and lunch plans.

While the workplace can be a source of additional stress, Mechanic points out that it can also be a place of salvation and refuge.There are a lot of ways that having a job can be a life raft both emotionally and physically helping women get out of abusive relationships, Mechanic says.The workplace can provide physical safety and emotional safety which is absent in the victims home life.A job can also help the victim regain self-esteem and achieve the financial independence necessary to escape the abusive relationship.

Victims of abuse faced even more challenges when stay-at-home orders, intended to reduce the spread of Covid-19 left many victims trapped at home with their abusers. Even since stay-at-home orders have expired, work from home has become standard for many employees. When people are together 24/7, there is no escape from abuse that might ordinarily be provided by one or both individuals leaving to attend school or employment, Mechanic says. With more exposure, there is greater opportunity for abuse to be transacted, she adds.

Organizations Can Provide Training

Given the prevalence of domestic abuse, some organizations are stepping up to train their employees on how to spot it. Without training,a domestic violence victims struggles may go unnoticed by coworkers. Educating coworkers to look for signs of abuse (a coworkers partner who shows up at work frequently or sits waiting in the parking lot, an employee who wears long sleeves in warm weather, a colleague bombarded with calls from home) is a critical first step. Once domestic abuse is suspected, then a trained manager can talk to the employee.Some organizations also offer options such as relocation plans for victims.An additional benefit of these programs is they help victims realize that their workplace is safe and that they have options to escape the abuse.

With regard to Elizabeth Holmes, we have yet to find out if and how she will be presenting her alleged experience with domestic abuse at work.If she does discuss her experience, it will help raise awareness of this serious issue faced by millions of victims.

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Elizabeth Holmes And How Partner Abuse Can Impact Work Behavior - Forbes

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The idea of early retirement had been a dream for many Americans long before it evolved into the FIRE movement. But with the growing influence of social media and the ability of workers to operate remotely, the FIRE movement has sparked a renewed effort to retire early, particularly among millennials. However, as with most things in daily life, the pandemic has had a major effect on the FIRE movement. Read on to learn more about what the FIRE movement is and how adherents have had to adjust during the pandemic.

Check Out: Comparing and Contrasting the FIRE Movement With Lying Flat Debt-Free Future: Tips for Adapting To a FIRE Lifestyle

FIRE is an acronym for Financial Independence, Retire Early. And while the dream of early retirement is nothing new, the FIRE movement highlights a variety of steps that participants can take to make early retirement a reality.

One of the core components of the FIRE movement is to save 50% or even more of your income to accelerate your retirement date. It also involves trimming down your lifestyle and making current sacrifices so that you can enjoy the long-term benefit of an early retirement.

Read More: 10 Myths About Early RetirementFind Out: The Downsides of Retirement That Nobody Talks About

The skyrocketing unemployment rate, stay-at-home orders and business closures that accompanied the coronavirus pandemic all worked to conspire against the FIRE movement.

Since saving a high percentage of your income is an important stepping stone to retiring early, those who lost jobs or had to reduce working hours during the pandemic may have set their early retirement plan back by years.

Read: 10 Tips for Early Retirement

Many who work from home or operate online businesses suffered as consumers went into savings mode rather than spending mode.

And those already beginning their early retirement adventure may have been spooked out of the stock market, which suffered its fastest 30% decline in history in 2020. FIRE adherents who sold during this rapid, massive sell-off missed the equally violent recovery, which at just 33 days was the shortest bear market in S&P 500 history. FIRE proponents who panicked during the sell-off may have permanently crippled their early retirement nest egg.

Story continues

See: 10 Signs Youre Not Saving Enough for RetirementBe Aware: 30 Greatest Threats to Your Retirement

Wherever there is a crisis, there is also opportunity. While the coronavirus pandemic may have made early retirement unattainable for some FIRE proponents, others actually benefited from the upheaval.

For example, those who were able to put a big chunk of their savings into the market when it was down over 30% in early 2020 reaped huge gains shortly thereafter.

Some workers who were forced into remote positions now understand that they can work away from the office on a permanent basis, opening up a host of possibilities in terms of working on their own terms. For example, those who wanted to retire early and live overseas may be able to make that move now, while still working and earning American wages, thereby taking the first step toward their future lifestyle. Still, others were able to take advantage of the pandemic to open up their own businesses. These additional business opportunities have put a host of new FIRE proponents onto the path toward their own early retirements.

More From GOBankingRates

Last updated: Aug. 18, 2021

This article originally appeared on GOBankingRates.com: How the Pandemic Changed the FIRE Movement

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How the Pandemic Changed the FIRE Movement - Yahoo Finance

Aug 19th 2021

THE LAST time the Taliban ruled Afghanistan, they banned girls from going to school. This time they say they will allow them to be educated within the limits of Islam. No one knows what that means. Afghan women fear the worst. As the men with guns in Kabul ponder whether to allow their female compatriots to study, it is worth reflecting on why this matters so much.

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Development experts do not agree on much, but they all agree that educating girls is one of the most effective ways to ease all manner of social ills. (Boys education matters too, but girls have further to catch up.) When girls learn how to read, write and do sums, they lead longer, healthier lives. They are much less likely to become child brides or teenage mums and are also less likely to suffer domestic violence. If all women completed primary school, the number who die in pregnancy and childbirth would fall by about two-thirds.

Educating girls is also an excellent way to reduce poverty. This should be obviousif half the population never learn much, they will never earn much. Women who finish secondary school can expect to earn twice as much as those who never enter a classroom. A degree of financial independence, in turn, gives them more bargaining power in their relationships with fathers, brothers and husbands who might seek to push them around.

Women who spend more time in school generally choose to have smaller families. This is the main reason why the global fertility rate has fallen from five children per woman in 1960 to 2.5 today. In very poor countries, uneducated women may have lots of babies, because they expect some of them to die young, and the family wants extra hands in the fields. If women are educated, however, they have fewer children so they can afford to keep them in school for longer.

The children benefit enormously: they are more likely to receive vaccinations and less likely to die before they grow up. If all women finished secondary school the number of child deaths would fall by half, and 12m fewer children would suffer from stunting caused by malnutrition. Children born of educated mothers are much more likely to get a good education themselves, and use it to snag a good job. So are their childrenit is a virtuous circle. A recent study of eight emerging economies by Citigroup and Plan International concluded that making sure all girls finish secondary school would boost GDP in those places by an average of 10% within a decade. And places that educate girls end up with more female politicians, which can improve governance. Female legislators are typically more supportive of health and education spending, and less keen on big armies.

Despite these benefits, many countries continue to neglect girls education. Few go as far as the Taliban, who have been known to throw acid in bookish girls faces. But in poor countries only about 80 girls complete lower secondary school for every 100 boys. And the pandemic has made matters worse. Many countries have closed schools for months. Millions of girls whose education was interrupted will never go back, having been married off or sent out to work. It is not just in Afghanistan that girls potential is being wasted.

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Why educating girls is even more important than people realise - The Economist

Taliban's swift takeover of Afghanistan last week has shown that they do not lack the military prowess required to not only stay in power but also to defeat the Afghan soldiers on whom the US has spent close to $80 billion.

So only one question arises, how is it that the Taliban can fund itself and its military weapons? And how have they funded themselves over this two-decade-long war with the US?

When the Taliban was ousted in November 2001, they were merely a seven-year-old organisation. However, over the last two decades, they have grown in military prowess, numbers, and funding.

Drug Trade

As per a report by Indian Express, the primary source of the Taliban's funding has been their drug trade. As per a May 2020 report of the United Nations Security Council,Taliban annual combined revenues range from $300 million to upwards of $1.5 billion per annum.

In recent years their funding has suffered becauseof the reduction in poppy cultivation and revenue, less taxable income from aid and development projects, and increased spending on 'governance'projects, the UNSC report further added.

Also read:Taliban 'set woman on fire for bad cooking', shipping sex slaves in coffins: Report

However it also stated that for the longest time, heroin cultivation provided the Taliban's funding,but the emergence of methamphetamine in Afghanistan is giving impetus to a major new drug industry, and the latter is expected to be more profitable because of its low costs of ingredients.

Alongside that, drug smuggling and taxation have also added to the Taliban's coffers.

As per the UNSC report, the Taliban take a certain amount of money per kilogram of heroin, and this process repeats in all districts that they have control over. It is smuggling routes, Afghan officials believe, that have empowered each Taliban commander.

Illegal mining, donations

Besides the drug trade, there are other avenues that the Taliban use for funding. Indian Express reports that there is a confidential report commissioned by NATO that states that the terrorist organisation is close to achieving or has achieved financial independence to fund its own insurgency.

The report stated that Taliban earneda staggering $1.6 billion in the year ending March 2020. Breaking down these costs, it stated that,$416 million came from the drug trade; over $450 million from the illegal mining of iron ore, marble, copper, gold, zinc, and rare earth metals; and $160 million from extortion and taxes in the areas and on the highways it controlled.

Other than this, Persian Gulf nations donated$240 million in donations, largely from Persian Gulf nations.

"To launder the money it earned, it imported and exported consumer goods worth $240 million. The Taliban also own properties worth $80 million in Afghanistan and Pakistan,"the report said.

US weapons, donations from Pakistan

While it is widely known that Taliban gets support from Pakistan, that is not how they source their arms and ammunitions. According to Indian Express, ISI and Pakistani army provide support to the Taliban. This is done directly and also through the Haqqani network, which is an Islamist Mafia operating in Pakistan.

It is also believed that Iran provides weapons and support to Taliban. The US has also accused Russia of helping Taliban, but that has not been verified.

Beyond these external avenues, the Taliban has also been able to arm itself with the weapons and ammunition that the US has provided to the Afghan forces over the years.

On August 17, two days after the Taliban took control of Kabul, White House National Security Adviser Jake Sullivan said, We dont have a complete picture, obviously, of where every article of defence materials has gone but certainly, a fair amount of it has fallen into the hands of the Taliban.

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Explained | Where does Taliban get its money from? - Deccan Herald

The Talibanhas risen to power in Afghanistanfor a second time almost exactly 20 years since it was ousted from the country.

Its rapid campaign has sparked alarm in the Westandwidespread fear from Afghansatthe prospect of a return to the groups brutal previous regime.

Officialsdeclared a new Islamic Emirate of Afghanistanafter seizing Kabul on 15 August,the culmination of a lightning advance in the wake ofthe US withdrawal troops from the country.

The Talibans financial independence essentially means it can fund its own uprising without requiring the backing of a foreign power heres where the groups money comes from.

The Taliban funds itself largely through the opium trade,with Afghanistan supplying the vast majority of illicit heroin across the globe.

Insurgents impose a tax at every stage of the drug production process, from poppy farmers to traders who transport the heroin to neighbouring countries.

Experts have expressed fears that opium production in Afghanistan is set to soar amid economic and political insecurity in the country, meaning hat cheap heroin could flood the streets of European towns and cities.

Even before its military success this year, some had described the militant group as the worlds biggest drug cartel.

Cesar Guedes-Ferreyros, the Kabul representative for the UN Office on Drugs and Crime, said that Afghanistan supplies at least 85 per cent of the worlds heroin and 90 per cent of the narcotic injected by UK users.

With the Taliban having gained complete control of the opium producing areas in the south and east of the country, experts expect the militants to ramp up production.

The group also makes money through illegal mining and trading minerals. According to a confidential report commissioned by Nato and obtained byRadio Free Europe/Radio Liberty, the group earned $1.6bn (1.15bn) in the financial year ending March 2020.

That financial independence enables the Afghan Taliban to self-fund its insurgency without the need for support from governments or citizens of other countries, the report states.

The Taliban also taxes local industries and impose the Islamic taxes ushr, a10 per cent tax on the harvests of irrigated land and 10 per cent tax on harvest from rain-watered land and 5 per cent on land dependent on well water, and zakat, a 2.5 per cent wealth tax.

Much of the Talibans weaponary comes fom groups or states sympathetic to the groups cause, with the US perviously accusing Russia of supplying the militants.

However, it has also benefited from billions of dollars worth of US investment in Afghan security forces, having captured an array of modern weapons and military equipment.

The extremist group seized firepower including guns, ammunition and helicopters as they overran Afghan forces trying to defend districts, cities and military bases as they headed towards Kabul.

Over 20 years of military occupation, which saw an Afghan government installed in the country, the US spent $83 billion (around 60m) on Afghan security forces.

But despite outnumbering Taliban insurgents who had less sophisticated weaponry and no air power some chose to surrender equipment rather than fight, with critics saying President Bidens withdrawal of troops set the final collapse in motion.

The problem of the US withdrawal is that it sent a nationwide signal that the jig is up, Stephen Biddle, a Columbia University professor and former adviser to US commanders in Afghanistan, told the AP news agency.

Taliban fighters have also been stripping civilians in the country of their own weapons, with a spokesperson claiming they no longer need them.

We understand people kept weapons for personal safety. They can now feel safe. We are not here to harm innocent civilians, the spokesperson said on Monday.

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Who funds the Taliban in Afghanistan - and where the group's weapons come from - iNews

A young father of two teenagers passed away unexpectedly. The mother was emotionally supported by families on both sides, who stood by her initially. In a months time though, the situation had rapidly deteriorated. As expected, money was the culprit.

The parents of the deceased man are retired and depended on their only son for partial financial support as their pension is meagre. The daughter in law refuses to support them further. She says she is being realistic. There is now only one income, and there are two children who would soon go to college. She is staring at another 20 years of work fraught with risks of being laid off. Not a secure job like the ones her in-laws held.

The insurance proceeds, deposits and investments are substantial, but the parents are not listed as nominees in any of the financial assets. The wife points out that the household runs on her salary, and the mans salary was mostly saved and invested. They dipped into it for large acquisitions like the house they lived in. She enabled building these assets and these will support her for the rest of her life.

Consider the finances of the mans parents. They led a simple life but could not save much. They belong to a generation that took responsibility for the siblings and treated the households finance as one common pool. They adjusted and compromised their needs and wants and saw it as the way to live.

The next generation to which the man and his wife belonged is mostly nuclear. They kept their finances pooled but spent it mostly on themselves and saved for specific financial goals for themselves and their children. They sought financial independence as a goal and did not imagine depending on their children when they retired. The wife is thus unable to empathise with her in-laws. She may be persuaded to part with a lump sum for them, but nothing beyond that. The relationship is strained and that does not help.

There is a popular practice of asking for pooling and bifurcation of the households finances. The husband and wife keep their earnings and use and invest it in their own names. But they create a pooled third account for the household from which they fund all the common expenses and goals. If one likes to support ones parents, or siblings, one does it from their own incomes.

But how would this arrangement work if one passes away unexpectedly? Wouldnt the nominees and beneficiaries in the assets left behind by the deceased use it anyway? Even if there are other claimants?

Managing a households finances is an exercise that must maintain the interests of everyone who has a share in the financial assets of the household. There is only a limited pool and there are multiple claimants and many priorities. Clarity about what belongs to whom must mark the way these assets are built, maintained, shared and passed on.

If the man had retained his parents as nominees in any of his assetsthe PF, PPF, any one of the insurance policiesthey would have received a share of his wealth. If the other claimants do not go to court, they could have accessed these assets. Or better still, if he had a Will and had the foresight to name his parents in the eventuality of him preceding them in death, matters would have been easy.

We hold the power to allocate resources in a manner we see as fair and equitable. But when there is an entanglement of many households, there are tough questions. The woman asks: If I had passed instead of my husband, would he have taken responsibility of my parents? Why is it that I have to take on a responsibility when I have limited resources?

The lessons from this episode are clear.

First, relationships may be fine and amicable when people involved can talk, express their views and settle their differences. When these relationships break down, and when irreconcilable differences come up, there is no choice but to divide the finances and assets clearly. Earlier it is done, the better. Death can make it much tougher.

Second, while the option to seek legal recourse is available, it can be tedious, expensive and time consuming. Resorting to a family settlement that everyone with financial interests can participate, negotiate and arrive at after discussion might benefit all parties. It is important to have an independent counselor.

Third, while many old timers cringe at the idea of my money, your money and our money, that trifurcation might reduce stress. In many households, the man and the woman may differ in their goals, risk preferences, spending and saving habits and their choice of assets. Keeping their books separately might preserve their financial independence and priorities.

Fourth, we unfortunately live through times when parents are frequently outliving their children. The pain of losing a child is searing. If that also comes with a serious financial setback, at an age and life stage when one is not able to earn income and acquire more assets, it is even more cruel. One cannot overemphasise retirement planning and financial independence.

Fifth, discharging our roles with consciousness about our mortality is not something many of us can do easily. It is only when there is death in the immediate family or friend circle, that we consider the horror briefly. Then we soon forget and move on. Ordering our financial lives with that thought in mind, would save those that we loved dearly even as we parted, from pain and suffering.

It's difficult to take sides in this story. The parents will suffer as much as the immediate family the man left behind. But who will take responsibility for whom and at what cost is a question that money alone cannot solve.

(The writer is Chairperson, Centre for Investment Education and Learning.)

More here:

How to manage and allocate the family finances after the breadwinner's death - Economic Times