Category Archives: Financial Independence

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Call it revenge spending. With many parts of the U.S. reopening, tens of millions are expected to make up for lost time by shelling out for experiences they've been missing over the past 15 months.

More than a year after Covid-19 upended lives around the world, Americans are preparing for a return to a "normal" summer, filled with travel, concerts and a trip (or two) to our favorite boutiques. Financial analysts have been predicting a boom in retail and service spending as a result.

Of course, not everyone plans to spend lavishly this summer, and many Americans are still out of work. But many people's finances have actually improved compared to pre-pandemic times: The personal savings rate soared, and credit card balances have fallen in aggregate.

There's going to be a surplus of disposable money to go around in the coming months and many Americans are itching to spend it.

I asked financial planners and wealth managers how to make the most of any extra money we might have going into the summertime. Here's what they advise.

Many experts gave advice that falls along the lines of what can be considered traditional money tips:

These are the rules everyone knows, even if we don't always follow them. They're important there's nothing wrong with a bigger savings account but they're also not exactly fun. After the prolonged period of stress we collectively endured, a little spending on new experiences can improve our mental health and overall well-being.

Others pointed out that this is something of a once-in-a-lifetime reset in many of our lives. It's worth recognizing that many of us skipped vacations, avoided seeing loved ones, and stayed home from concerts and movie theaters for the past year. It's OK to let loose now and revel in some normalcy, assuming you have the means to do so.

"We need to see each other, interact with our loved ones and bond over our favorite activities," says Melanie Allen, who operates Partners in Fire, a financial independence and lifestyle blog. "It's important for people to know that it's OK to spend money on these things, especially if they bring you joy and enrich your life."

For me, eating in restaurants with friends comes to mind. While traditional financial advice encourages people to cut superfluous spending like that, I realized how happy it makes me to get dressed up and have someone who actually knows how to cook prepare a meal for me.

That said, it's OK to admit that there are certain things or activities that you really didn't miss, says Ted Rossman, senior industry analyst at CreditCards.com. Perhaps your life was just fine without after-work happy hours, or a new wardrobe. Consider this "found" money, and direct it toward savings or some of your revenge spending.

"Figure out what you value and prioritize that and eliminate some of the clutter," says Rossman. "This reset can be liberating in that sense."

There may also be found money in permanent life changes, says Jody D'Agostini, a New Jersey-based certified financial planner. Your work may switch to a hybrid in-person and remote schedule, which means you could potentially save on things like child care, commuting or dry cleaning.

In general, it's a good time to reflect and take stock of the future, says Rossman. Reevaluate your financial goals, taking the past year into account. Your priorities may have changed, and that's OK.

"By spending smarter and in ways that better align with your values, you'll be happier and your finances will be stronger," he says.

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Americans look forward to 'revenge spending' after a year insidehere's how to make the most of it - CNBC

I have a friend who, at 39, you'd definitely consider part of the FIRE movement. He checks his investments daily and then heads off to the pool with his kids for the rest of the day. His situation sounds exactly what you might think of when you think of the Financial Independence, Retire Early (FIRE) movement. It's all about napping and reading on a hammock six hours per day, right?

However, that can be a major misconception. You may not realize that within the FIRE movement, FIRE can morph into several different forms LeanFIRE, FatFIRE and BaristaFIRE. But first, let's discuss the definition of the FIRE movement, then examine how you might want to take part in it.

The core component of FIRE involves using FIRE principles in order to retire decades earlier than expected.

Highly motivated people can use a simple formula that looks like this to achieve financial independence and retire early:

Save 50% to 70% of your income + frugal living + invest in low-cost index funds = FIRE

FIRE participants use their investment earnings to pay for their expenses. Index funds offer investors ownership of multiple stocks, greater diversification and lower risk at a low cost. Many Warren Buffett fanatics in particular look to cheap index funds instead of individual stocks.

A FIRE scenario might look like this:

Jessica earns $100,000 per year as a software engineer. She saves a whopping $60,000 of her after-tax income and lives off the rest in a low-cost lifestyle.

For the first few years, she lives in her parents' basement and pays them just $150 per month for groceries no rent. She doesn't spend a lot of money on extra things, and she gets to wear jeans to work no fancy clothes needed.

She invests all of her extra money into the very popular Vanguard S&P 500 ETF (VOO) with its ultra-low expense ratio of 0.03%. The average rate of return on VOO is around 13%.

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If Jessica starts with $0 when she graduates from college and saves $60,000 per year over the course of ten years, with an average rate of return of 13%, she'll have $1,248,858.99.

Jessica figures she can quit her day job once her savings reaches about 30 times her annual expenses. Her goal involves paying for her living expenses by taking 3% to 4% savings and investments withdrawals, and then when she's eligible, tapping into the money in her 401(k).

Does Jessica's jam just not interest you at all? Fortunately, you can tap into a few other FIRE options. Who says you have to follow the crowd? The FIRE crowd actually marches quite a bit to its own beat, so look to see whether these options fit you best: LeanFIRE, FatFIRE or BaristaFire.

Like in Jessica's situation, LeanFIRE focuses on living lean to an extreme. You sacrifice everyday frills and luxuries and focus on a more "bare minimum" lifestyle so you can save up enough money to retire early. It involves a mantra of saving and more saving and you'd also live more conservatively in retirement. Okay with a smaller income in retirement? You could get to FIRE earlier.

FatFIRE means you allow yourself to have a more indulgent lifestyle compared to LeanFIRE. You don't make quite as many spending sacrifices as you would with LeanFIRE so you need to save more money instead of eating peanut butter and jelly sandwiches for lunch every day. You'll likely need a higher income to make FatFIRE work and it might take you more time to get to financial independence.

BaristaFIRE allows you to retire from your main job early. However, you don't stay completely hands-off from the working world. Just like it sounds, BaristaFIRE allows you to take advantage of your already-squirreled away money so you can work part-time, take on jobs in the gig economy or work on a dream startup you've always wanted to create. It gives you the choice of working for pleasure rather than working to survive or fund your lifestyle.

Which FIRE scenario works best for you? Take a look at a few steps you can take to determine the best course of action for you.

How much do you make? That can determine a lot. Remember, at its core, the FIRE movement involves individuals who make a lot of money in the beginning of your career. My friend who participates in the FIRE movement lived off of just his wife's income and invested all of his income as a software developer for over 15 years.

Trying to achieve FIRE on a lower salary might take you longer than trying to achieve FIRE on a higher salary or the combination of two salaries.

How soon do you want to achieve FIRE? For example, if you want to achieve it in eight years versus 15 years, you might have to compound your efforts in that shorter amount of time. How well does your timeline mesh with your aspirations and ability to save?

Can you really stand driving around a 1992 Cutlass Supreme for 10 years, living on off-brand cereal for three meals per day? Now, your situation might not look as serious as this, but you want to consider whether you're really cut out for LeanFIRE or not. If you like a few more luxuries, you may want to consider FatFIRE instead.

How much would you like to work when you've retired? Do you want to go the BaristaFIRE approach and spend time launching the business you've always wanted to get off the ground? BaristaFIRE might make the most sense if you have a passion for something else and want to use your initial career as the jumping-off point to save lots of money.

Does one of these options jump out at you? No matter what, all three will require you to save a lot of money. The FIRE movement works well for many people, as long as you identify which method will work best for you ahead of time.

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LeanFIRE, FatFIRE and BaristaFIRE: How to Choose the Right FIRE Option for You - Yahoo Finance

Excerpt from the commencement address to the Sydney Lewis School of Business at Virginia Union University, May 8, 2021:

To our graduates, congratulations! Now lets have a discussion about creating your legacy. For starters, I suggest you do not listen to Cheshire the Cat in Alice in Wonderland.

Alice: Would you tell me, please, which way I ought to go from here?

The Cheshire Cat: That depends a good deal on where you want to get to.

Alice: I dont much care where.

The Cheshire Cat: Then it doesnt much matter which way you go.

Alice: so long as I get somewhere.

The Cheshire Cat: Oh, youre sure to do that, if only you walk long enough.

You are too old to be getting life advice from fairy tales. Your student loans are real, it cost money to have your own place, and your newfound independence comes with a price.

Since this is the era of redefining who we are, let us extend this to how you define your career success. Booker T. Washington is quoted as saying, Success is not measured by the heights one attains, but by the obstacles, one overcomes in its attainment. Why did I pick this quote? It is not my intention on being a party pooper but to relay the harsh realities about our national economy.

Due to the cyclical nature of our economy, you can bet your last dollar that downtown turns in the economy will affect your career during your working years. I survived the Reagan recession of 1983, the white-collar recession of 1992, the Great Recession of 2008, and, most recently, the recession brought on by the coronavirus. So, Booker T. Washingtons words have meaning.

Let me suggest that there is a way to minimize the impact of our cyclical economy by establishing and sustaining a personal legacy.

Yes, it is never too early to begin thinking about your legacy because time has a way of slipping away. May I suggest the following:

The first legacy is the legacy of fortitude. Fortitude is the virtue that allows us to overcome fear and to remain steady in our will in the face of all obstacles-physical and spiritual. Prudence and justice are the virtues through which we decide what needs to be done; fortitude gives us the strength to do it. Your fortitude commits you to your purpose. As my mother used to say, your fortitude gives you a backbone. Not only will it allow you to speak to injustice it will give you purpose. My fortitude has sustained me when seasons in my life were not always bright.

The second legacy I suggest is financial independence. Financial independence is important because it increases your ability to structure work to suit your personal and professional goals. A byproduct of financial independence is the ability to make decisions without the pressure and stress of the consideration of financial impact or at least a reduction of those concerns.

The third legacy is the legacy of relationships. There will be two places where your legacy is written: on your tombstone and on the hearts of those you love, engage with and network. What do you want to communicate to them and what do you want to be remembered for through the ages? I know a lot of professionals who think of only themselves and what it takes to get by, get promoted and get recognized. This is a myopic view of self. The biblical belief of when you bless others you in return will be blessed is true. Leaving a legacy is about connecting and creating relationships. The cornerstone of networking is built on trust and mutual benefit.

The fourth and final legacy is the legacy of providing value to the organization you work for. Employers want to see their employees succeed and would prefer to avoid losing top performers. By adding value to your employer, not only are you displaying a strong commitment to your team and the business, but it also holds you in good stride when it comes to career advancement.

Choosing to define your legacy in terms of overcoming will provide you the self-gratification needed to sustain yourself in unpredictable times. This has allowed me to pick the road I prefer to travel and it is a road I will continue for a bit longer.

Over the next several months, the Edwardsville NAACP will be providing programming on Black wealth accumulation. Specifically, our programming will focus on the dynamics of wealth accumulation over time and the structural impediments. This programming will help our members determine if the income gap can be remedy by legislation or personal decision or a combination of the two.

Walt Williams was elected President of the Edwardsville NAACP in December 2020. He lives in Edwardsville with his wife Chris. Williams finds value in a life of public service.

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Community Spotlight: Black wealth accumulation on tap for Edwardsville NAACP programming - The Edwardsville Intelligencer

In the past five days, meme stocks such asAMC Entertainment Holdings(NYSE:AMC),BlackBerry (NYSE:BB), Tilray(NASDAQ:TLRY),Clover Health(NASDAQ:CLOV), andGameStop(NYSE:GME) are up anywhere from 23% to almost 300%. It is clear that there is coordinated action to pump up these stocks. They have been moving almost in tandem with one another throughout the week.

Behind the spike are the 10.3 million traders of the WallStreetBets (WSB) subreddit. Young, full of energy, and driven by a "financial independence, retire early" (FIRE) mindset, members of WSB have developed a highly sophisticated trading strategy as a means to their end.

It all starts with meme stocks: humble businesses trying to turn around their operations in the face of record-high short interest. It's the type of company that resonates deeply with underdogs. How can this setup let ordinary investors go from zero to hero?

Image source: Getty Images.

With a chosen meme stock and a tightly coordinated community ready for action, it's time for the squeeze. It all starts with massive buying activity on near-term, out-of-the-money (OTM) options. For example, when Tilray was trading below $14 last month, there was substantial open interest on $20 June calls.

This is because members of the subreddit typically have small bankrolls. OTM options are very cheap, give a lot of leverage, and have a large theoretical payoff (but with an extremely low probability of getting there), making it a perfect financial instrument for the members. One hundred Tilray $20 June calls (denominating 10,000 shares), if bought in May, would cost as little as $20.10 per contract. However, those contracts would yield $10,000 in profits for every $1 Tilray stock trades above $20 at expiry.

But it's not just Reddit traders who are buying these OTM options. Short-sellers need to hedge against the chance of an infinite theoretical loss. Using OTM options, one can cap losses at a certain threshold as profits from the option can offset short losses on a one-to-one basis beyond the strike at expiry.

The phenomena causes OTM options to trade well above their fair value calculated by mathematical models, such as Black-Scholes. Market makers (MMs) are more than happy to take the opposite of the trade. By selling OTM call options at an inflated price, then buying a deep-in-the-money (DITM) put at the same strike, and then delta-hedging via buying stock, MMs can arbitrage the "overpriced" time premium on the OTM options using a concept known as the put-call parity.

The problems occur when hundreds of thousands of WSB enthusiastic and doom-and-gloom "hedgies" all buy similar OTM options on the same stock at the same time. The MM now has to sell more options to keep up with the demand, buy more puts to hedge, and more importantly, buy more of the underlying stock to hedge.

Going back to the previous example, it wouldn't take much to hedge the OTM option, perhaps as little as buying 12 shares of stock per contract. However, when there is a wave of hungry traders demanding hundreds of thousands of contracts from MMs, that can cause a lot of buying activity.

The increase in stock price attracts the attention of short-sellers, who are often nervous about any abnormal growth in the underlying stock. Frantic searches for new information regarding potential business improvements reveal nothing. Shorts then falsely deduce someone who has non-public material information must be buying and begin covering their positions.

As shorts cover, the stock goes up, and MMs suddenly find themselves needing to buyexponentially more shares of stock to protect their trade. It might take just 12 shares to hedge the aforementioned OTM call, but it takes around 50 shares to hedge the same call that has now moved to at-the-money (ATM), and 100 shares to hedge a DITM call.

The whole ordeal is like a nuclear reactor that has lost control. As the stock goes up in value, it induces a sense of fear of missing out (FOMO) among those in the community who did not enter the bets. This leads to panic buying for OTM options, which in turn catalyzes MMs to buy more of the underlying stock, which in turn causes more covering from short-sellers, driving up the price further and leading to even more FOMO for OTM options. It becomes a monstrous feedback loop.

The reverse, i.e., selling a DITM put, buying the OTM call, and shorting the stock to lock in a fat DITM put premium doesn't offset this type of activity. This is because it is extremely difficult to borrow shares during a squeeze, or even in general, depending on the stock. Plus, other traders, not MMs, may prefer to sell DITM puts (thereby providing liquidity) as a synthetic way to go long stocks with stringent margin requirements without paying the full price for shares.

As the stock rises rapidly, the company itself begins to take notice and issues press releases that encourage speculation. This further increases the "meme value" of shares and drives up new member growth for WSB, while also putting more chips on the table for the community. The result is a near meteoric rise in stock value in a very short period of time, leading many to go from rags to riches at the expense of hedge funds betting against the companies.

Right now, some of the meme stocks (looking at you, AMC!) are ridiculously overvalued. Investors who bought early should take profits and consolidate the gains. At these levels, any amount of negative news coverage or business mishaps could cause the stock to tank. If one really loves what the meme stocks have to offer, consider the undervalued ones instead.

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

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What's Behind the Recent Meteoric Rise in Meme Stocks? - The Motley Fool

By Staff Reporter Jun 3, 2021

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Being financially free means that you have enough savings, investments and cash to afford the lifestyle that you want for yourself and your family, according to Consolidated Wealth director and advisory partner Colin Long.

Long said: And the truth is that most South Africans suffer from stuffitis. We buy things we dont need with money we dont have to impress people we dont like.

The result is that many people live with more debt than they can afford and become hamsters on a wheel, working harder and harder to maintain momentum because if they slow down, we will be unable to maintain their lifestyles.

Treasury estimates that only 6 percent of South Africans will retire on a liveable income. These findings are based on a survey of more than 15 million economically active people with a monthly income of over R8 000. Thats really concerning as it confirms that debt is a national issue, a very real problem across our entire society, Long said.

Long recommends a five-step process that will give people the structure to attain financial freedom:

1. Start a budget

The first step towards financial independence is setting a budget. Be ruthless and separate needs from wants. Include all the regular expenses such as bond or rental costs, utilities, credit card bills and other loans as well as groceries and school fees. Once youve got a realistic budget in place, stick to it.

2. Pay off your small debts first

List all debts from the largest to the smallest and include the interest being paid for each debt. Then make a plan to pay off the smallest debt first and then tackle the next smallest debt and then the next. It may seem strange that you pay off the smallest debt first but this will give you a psychological win that will keep you on track.

3. Create a financial plan

Speak to a financial planner. Their first goal will be to put together a plan that protects your income and provides cover for your family. Make sure you are working with a Certified Financial Planning Professional (CFP) as this will ensure you will get good financial advice.

4. Draw up a will

Your next step is to draw up your will. If anything happens to you, this will help your family as there is a clear set of guidelines about how your assets should be distributed.

5. Start saving for your retirement

You can now start working with your financial planner on your retirement plan. Ideally, you should consider saving 10 to 15 percent of your income for retirement and your adviser will tailor a plan thats attuned to your circumstances.

PERSONAL FINANCE

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Five ways to fast-track your financial freedom - IOL

During this past year, we have seen a significant increase in the attention directed to issues surrounding diversity, equity and inclusion. The elevated interest is long overdue, with policies and practices in both the public and private sectors receiving thoughtful and responsive revisions.

As companies, organizations and elected officials debate and implement new approaches, race and gender have dominated the discussion. The focus is important but also misses a key population facing similar obstacles and historical discrimination: people with disabilities.

More than 60 million American adults live with a disability, and adults and children with disabilities represent nearly a fifth of Indianas population. As the baby-boom generation continues to age, that percentage will only increase.

This year marks the 31st anniversary of the Americans with Disabilities Act. Since the passage of this landmark legislation, our country has made important progress, but much more can and should be done.

I am proud to lead Bosma, a nonprofit organization committed to creating opportunities for people who are blind or visually impaired. Our business isnt a charity. Rather, its a company with a mission. As a service-disabled veteran who lost his vision in combat, I understand the unique challenges facing people with disabilities. With a history dating back more than 100 years, Bosma helps Hoosiers who are blind or visually impaired gain meaningful employment and the life skills they need to remain independent.

Bosma is Indianas largest employer of workers with vision loss more than half of the organizations nearly 200 employees are blind or visually impaired. These employees hold positions at all levels of the company, including leadership.

In Indiana, nearly 160,000 people are living with vision loss. Facing a national unemployment rate of 70 percent, Hoosiers who are blind or visually impaired must overcome significant challenges to become and remain part of Indianas workforce. The most pervasive of those obstacles involve employers unwillingness to hire someone who is blind due to misconceptions about their abilities and needs. Bosma can alleviate these concerns by providing employment services that guide businesses through the process of creating a more diverse, equitable and inclusive workforce.

Companies struggling to find skilled, qualified workers in todays competitive hiring market should not overlook nontraditional labor. Leveraging this competitive workforce can provide businesses with solutions that also help workers with disabilities achieve financial independence. Diverse hiring also serves to augment corporate social responsibility efforts, most of which are being viewed through a diversity, equity and inclusion lens. To be fully inclusive, the lens must include people with disabilities.

Lets broaden the diversity, equity and inclusion discussion to ensure the maximum benefit for society as we move forward.

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People with disabilities need representation in diversity, equity, inclusion discussions - Shelbynews

It takes courage, perseverance and a true vision to take the road less travelled and do something that society may not understand. For Jade Howard, an entrepreneur, mentor and businesswoman, choosing entrepreneurship over a 9-5 employment wasn't just the unconventional way, it was the only way - she had a vision of financial independence created on her own terms, and she was willing to pave her own road to get there. Now that Jade has found her freedom, she helps others do the same, creating self-sufficient traders and leaders in the business world, with the financial foundation to stop corporate climbing and start thriving in entrepreneurship.

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Jade was born in Philadelphia and spent her childhood in the South Jersey Area. Jade attended Rutgers University and also worked as a security guard at the school. It was the period after leaving her job and graduating from University that solidified her resolve to become an entrepreneur.

When discussing her passion-driven search for an opportunity that would give her the financial freedom she coveted, Jade says:

Also Read | Life Coach and Entrepreneur Shawn Singleton, II Releases His Transformative Guide to Self-Empowerment and Personal Growth

I knew I never wanted to be in a position where someone can dictate my pay and ultimately my livelihood. I always had the entrepreneurial spirit, but I felt like I didn't have anything that I was passionate about. Leaving my 9-5 is what really got the gears going. It was a very hard period, especially when everyone around you is telling you to get another job. But I was ready to go hungry. I was ready to go broke. I was ready to be homeless. I didn't care what it took. I just knew working for someone else wasn't for me.

With her back against the wall and pressure from family and friends to resume a life of traditional employment, Jade courageously continued her search and eventually landed on trading in the financial markets. Jade says that the recession-proof nature of trading is what appealed to her, amidst the global pandemic and growing job insecurity. While mastering the skill set, Jade was introduced to network marketing and has now created a business that allows her to combine her talents in trading and leadership to create financial independence not only for herself but for her team.

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To date, Jade's business called Trade Trade Gang consists of over 250 individuals spreading from the United States to the UK and Canada. Although her team is dispersed throughout the globe, they share a common goal of mastering their craft, becoming leaders among their peers and sharing new knowledge regarding financial literacy with the masses.

When discussing her personal objectives behind creating her business, Jade says:

For me, it really was about the impact - being able to just put other people in a position to win and to be successful in a bigger way, a better way than working to build someone else's dreams. People on my team have quit their jobs, bought new cars, been able to help their parents retire, and have been able to use this business to help fund their passions that they truly care about.

In a people-oriented organization where mentoring and coaching a large group of individuals from all different walks of life is critical to the success of the business, leadership is essential to continued growth. Jade has dedicated herself to putting her time into ensuring her team has the tools they need to succeed as independent traders and business owners.

With the pandemic it has been difficult to have in-person events to really strengthen the culture and solidarity amongst my team. But I have been very focused on making sure everyone is succeeding and truly understanding the skills of trading and leadership so they can be self-sufficient in their own endeavours outside of this organization and really see a change in their lives, says Jade.

Growing a business of this calibre is no small feat and Jade says she has experienced imposter syndrome among other difficulties with retention during the early stages of her entrepreneurial journey. However, a period of internal observation and personal development allowed her to create a huge wave of momentum and growth for Trade Trade Gang, and Jade is more than qualified to coach others on excellence in leadership, entrepreneurship and becoming their own bosses.

I remember I had gotten to a point where my business was just dwindling down because I didnt believe it could really grow to where I wanted it to. At the time I was blaming everyone but myself. In hindsight I realized I wasn't being the leader that I should have been. It came down to me putting my pride and ego aside, reflecting, and having the willingness to do the internal work and take advice from my mentors. I couldnt rely on just myself - when we try to do everything ourselves, it just puts too much pressure on us and a lot of times we end up failing. I started to really set my goals and truly believe in my vision, and within three months my business reached numbers it had never reached before, says Jade.

Ultimately, Jades goal is to create a future for herself and her fiance and generational wealth for her family down the line, to truly enjoy what life is all about when financial constraints are not a factor. Jade is helping her team reach the same heights of success, instilling in them her own personal values of having and believing in your vision for your future.

Whenever someone decides to join the business, I make sure to have a sit down talk with them and figure out what their why is. What is it that has them wanting to learn the skill set to tap into this business? Once theres that understanding of the real motivation behind what youre doing, it creates that stronger work ethic to really help you accomplish those goals. It's definitely rewarding seeing people achieve what they set out to do. It's definitely one of the reasons that keeps me going, says Jade.

With her business growing every single day, Jade makes a bigger and bigger impact as new leaders emerge from under her mentorship with the financial means to live the life theyve always wanted.

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Meet Jade Howard: An Entrepreneur Who Built Her Business Today To Create the Independent Leaders and Entrepreneurs of Tomorrow - Yahoo India News

NEW YORK--(BUSINESS WIRE)--Yieldstreet, a leading digital investing platform driven to help millions of people claim financial independence by unlocking access to previously unattainable alternative investments, today announced its $100 million Series C funding round.

Tarsadia Investments, led the round, joined by Kingfisher Investment, Top Tier Capital Partners and Gaingels. Existing investors, Edison Partners, Soros Fund Management, Greenspring Associates, Raine Ventures, Greycroft and Expansion Venture Capital also participated. Yieldstreet will channel the new funding to expand its user base, develop new investment products, explore international expansion, and pursue strategic acquisitions.

Yieldstreet was founded by Milind Mehere and Michael Weisz to digitally transform and democratize access to alternative investments, historically the near-total domain of the ultrawealthy and institutional investors. With the diversification opportunity offered by the Yieldstreet platform, retail investors can now modernize their digital portfolios across multiple asset classes and strategies. The appeal of these newly available options is seen in strong investor demand for Yieldstreets investment platform; both investment requests and new investors have surged through May of 2021, each up over 250% over 2020, with new investors already exceeding all of 2020.

Were on the brink of the greatest wealth transfer in history as Baby Boomers pass the torch to new generations. The consumer has changed, yet the tools and infrastructure in wealth management havent kept pace, says Mehere, CEO and Founder of Yieldstreet. Its a new worlda mobile-first digital oneso weve created a platform to eliminate the built-in friction points to better connect with consumers wherever they are, help educate and provide access to investments to fuel their life goals.

The Series C investment underscores the industrys growing recognition of Yieldstreet as a transformative digital platform capable of helping investors reach new streams of wealth to propel their financial outcomes and realize long-horizon goals. As the era of digital transformation accelerates, Yieldstreet is uniquely positioned to help individuals tap into modern investment strategies, with portfolios working around the clock to automatically apply earned income toward everyday expenses.

The 60/40 investment model is over; you simply cant retire on bonds yielding less than two percent, so alternatives are not optional but needed for every portfolio, says Mitch Caplan, President of Tarsadia Investments and former CEO of E*TRADE. Milind and Michael have a clear understanding of what is needed and have assembled a strong leadership team to unlock the future of investing, today. I have no doubt that Yieldstreet will be a household name in alternative investmentswhich sets them worlds apart from other ventures weve analyzed.

Having an investor like Tarsadia with Caplans vast experience, which includes spearheading the transformation of E*TRADE to a fully integrated online investing platform as the companys CEO, validates Yieldstreet's strategic plan as it scales its offerings to a full-service digital wealth management platform across distribution channels and investment classes.

We deserve to have our money work as hard for us as we do for it, added Weisz, President, Chief Investment Officer, and Founder of Yieldstreet. By creating a digitally native investment platform providing a beautiful user experience, transparency and a portfolio that generates passive income and asset growth via an array of alternative investments, were fundamentally changing the way the Yieldstreet community interacts with their money.

About Yieldstreet

Yieldstreet is reimagining the way wealth is created by providing access to alternative investments previously reserved only for institutions and the ultra-wealthy. Yieldstreets mission is to help millions of people generate $3 billion of income outside the traditional public markets by 2025. Its award-winning technology platform provides access to investment products across a range of asset classes such as Real Estate, Commercial, Consumer, Art, Marine, Legal Finance and Aviation. Since its founding in 2015, Yieldstreet has funded over $1.9 billion of investments and is committed to making financial products more inclusive by creating a modern investment portfolio. The company, headquartered in New York City with offices in Brazil, Greece, and Malta, is backed by leading venture capital firms. Join the movement at http://www.yieldstreet.com.

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Yieldstreet Announces $100M in Series C to Usher In New Era of Investing - Business Wire

Producer/Director Lora MoftahReporter Taylor Lorenz

Watch on Friday, June 4, at 10 p.m. on FX and streaming on Hulu.

Kaychelle wants to be on TV. Robs chasing a million followers and a screenplay deal. Khamyra seeks financial independence, while Tray wants to earn enough money that his mother never has to work another day in her life.

To make their dreams come true, theyve combined forces with other self-styled influencers at Collab Crib, a group house that doubles as a video studio in Atlanta, where a concentration of talent has helped attract other aspiring stars of Instagram, YouTube and TikTok.

Those social platforms are where many of todays young, ambitious creators are making their names and fortunes. This is more than just kids making videos on the internet, says Kaelyn, another Collab Crib creator. This is the new American dream.

For some, that dream starts in Los Angeles, where influencer collectives living in decked out hillside mansions have no or very few Black creators. The residents of Collab Crib, by contrast, are all Black.

There is drama its the internet, after all but also an overwhelming sense of community and camaraderie, our internet culture reporter Taylor Lorenz wrote in December about Collab Crib and another Atlanta creator house.

Black creators have made and popularized some of the internets biggest trends, Lorenz reported, but they receive fewer deals from big brands and theyre consistently paid less than their white social media peers.

A new documentary by The New York Times follows Collab Crib on a 90-day blitz to rack up followers and win over sponsors. Watch as they pursue their dreams of internet stardom while contending with a society and social media algorithms that seem to put them at a persistent disadvantage.

The New York Times Presents: Who Gets to Be an Influencer? will premiere on Friday, June 4, at 10 p.m. on FX and streaming on Hulu.

Senior Editor Liz DayDirectors of Photography Carissa Henderson and Trevor P. MayVideo Editor Pierre TakalAssociate Producers Cydney Tucker and Melanie Bencosme

The New York Times Presents is a series of documentaries representing the unparalleled journalism and insight of The New York Times, bringing viewers close to the essential stories of our time.

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Chasing TikTok Dreams in the New Black Hollywood - The New York Times

Planning for the unforeseen and learning to save and invest due to falling incomes have pushed women to take control of their finances in these trying times. Representative image/Pexels

Financial Planning has become more important for women, especially in times like Covid pandemic which has disrupted livelihoods and destroyed thousands of families across the country. According to LXME founder Priti Rathi Gupta, financial independence is an essential life skill every woman should be well equipped with in order to be truly independent. The Covid-19 pandemic and its impact have further added impetus to the importance of financial planning and independence for women.

Planning for the unforeseen and learning to save and invest due to falling incomes have pushed women to take control of their finances in these trying times. In these uncertain times of COVID-19, we have in fact seen circumstances prompt greater ownership from women. Gupta said this systemic shift has arisen from various interests in financial preparedness, personal finances, investment behaviours and challenges faced earlier in the case of saving and investing.

In an e-mail interaction with FE Online, Gupta explained further why women should take control of their finances and the steps they should take for this purpose. Excerpts:

In order to be truly independent, financial freedom should be the topmost privilege that every woman should aim for. Women are born money managers. When armed with the right attributes of being risk-aware, disciplined, making informed decisions, and staying calm under stress, women can go from managing home budgets to smart investors. When women begin to invest and grow their money, they carry the potential to bring about a societal change, because they begin by investing back into their community and children. The future of financial freedom for women is the onset of an evolutionary change, and it begins with a simple adaptation of money management, as a life skill.

ALSO READ | Why do smart people make stupid money mistakes?

Women have the knowledge of finance and yet are dependent on the male members of their household to make the decisions. Financial acumen and wealth creation are a joyous experience and if we simplify it and break the barriers between finances and women, the trailblazers of financial feminists would be leading the way in no time.

The first step in the journey of becoming financially fit and independent is to understand your financial patterns. This means that not only is it essential to be aware of your earnings, its also important to be aware about your significant expenditure. Use a journal or an online spreadsheet to write it down and understand your financial behaviour. Make sure you jot down all details as they will further help you make decisions accordingly.

Set financial goals since the very beginning, especially for short term plans like a trip or buying a car. For long term goals, you can consider investing in real estate or decide to use different investment mechanism to create wealth, depending on your goal. Keep aside at least 30% of your monthly income to fulfil these goals.

Time-based investment tools like Systematic Investment Plans and incremental investment through lump sum helps in building a healthy portfolio. SIP is among the most effective tools to invest. Automation is a great place to start and reach financial independence as fast as you can. The strategy is to make, save, and invest as much money you can. Try to increase the automation savings amount once every few months.

An emergency fund can help one stay afloat in times of a financial crisis such as the current one. Also, this fund should be quickly and easily available as cash, if and when required because there is no point of having money which is not liquid since you wont be able to withdraw it when emergency strikes.

No freedom can be achieved overnight, and the same goes for financial freedom as well. Staying up to date with the trends and terms can help expand your knowledge and avenues. Whether you do it with the help of a financial advisor or by taking courses online, but constantly upgrading your knowledge will help you feel more confident and adapted to the financial world.

It is important to reach out to professionals like registered financial advisors, who in turn would help you select and decide the best financial tools and investment avenues available in the market to achieve your financial goals. You could also consider joining a financial community like being LXME, etc., where motivated individuals and members, with a common goal, are willing to share tips and discuss their journeys. Such platforms help you be accountable, and you can learn techniques to manage your money better.

ALSO READ | Not following these 7 points will make Covid-19 claim difficult for you

What is LXME?

LXME is Indias 1st Financial Platform for Women, which aims to bridge the gap between women and finance with a community led expert-backed hassle-free platform curated for women.Women have differentiated financial needs; differentiated earning potential, career peaks, career breaks, longer life expectancy and a different approach & mind-set toward financial planning. It is thus imperative for women to take charge of their money through smart planning and investing best suited for their needs. Financial Freedom is the topmost privilege for any woman and LXME helps inspire that.

Today, LXME is a fast growing robust community led financial management, planning, and education platform for women. We aim to inspire a wave of financially fearless women to actively manage their money and achieve their dreams.

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Original post:

Why should women take control of their finances and how? LXME founder Priti Rathi Gupta explains | Interview - The Financial Express