Financial Advice

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A highlight from Is Emerging and Frontier Markets Investing Still Worth It? - with Asha Mehta

Money For the Rest of Us

05:22 min | 3 d ago

A highlight from Is Emerging and Frontier Markets Investing Still Worth It? - with Asha Mehta

"Welcome to money for the rest of us. This is a personal finance show on money. How it works, how to invest it and how to live without worrying about it. I'm your host, David Stein and today is episode for 11 and Camden and I are having a discussion with a super smart investor Asha Mehta on emerging markets and frontier markets. She is a quantitative investor. We'll start with having Canada introduced Asha and what we're covering today. And then we'll get into the interview just a note I'm recording this introduction separate from Camden's recording of ashes bio because he's traveling in Japan currently. We actually held the interview while he was in Japan. I was in the U.S. and Asha. I'm not sure where she was. So we'll go ahead and get started with introduction and then we'll jump right in to the interview. I think you'll enjoy it because I definitely learned a lot about what's going on with emerging and frontier markets and quantitative investing. Asha Metta, CFA is the founder and chief investment officer of global delta capital. Her thematic focus includes emerging and frontier markets and sustainable investing. She was previously an investment banker at Goldman Sachs and lead portfolio manager and director of responsible investing at Acadian asset management. Early in her career, she conducted microfinance lending in India. She has traveled to over 80 countries and lived in 6. Asha was named one of the top ten women in asset management by money management executive and profiled as a brilliant quant by Forbes magazine. Asha is an active advocate of financial literacy and financial empowerment. She is a supporter of several related organizations, including compass working capital and 100 women in finance. Our discussion focuses on subjective versus objective decision making when investing, the importance of data and what we need to understand about emerging and frontier market performance. Let's jump in. Well, we're really, I'm really excited to have this opportunity to talk with you and I know that David is as well, found the book to be very interesting. I think it's amazing just the sheer breadth and depth of experiences that you've had just across investing in different markets in different countries. And reading through the book, I think what I found very interesting was just, like I said, the amount of experiences. And my first question was kind of about objective versus subjective decision making. In quant investing, there is you have a lot of data, the goal is to make very objective decisions based on kind of the breadth of data and looking at all the different markets. Though I found it interesting in the book with all of your experiences, it felt like you did always have this opportunity to go to the country you're going to invest in. And to me, travel and those experiences are always very subjective. They're passed through our personal lens. And I was just wondering how our subjective experiences interplay with an apparently objective decision and is it possible to make a truly objective decision by itself in your experience? Camden, thank you. Thanks for reviewing the book. I'm honored, delighted, little bashful. That monthly, mostly just thrilled that you've read the materials and thanks for having me on this session, excited to be here with you and your listeners today. And thank you for a very provocative question. I think you're right. And it highlights some of the most relevant issues in this environment, which I characterize as really the era of big data, data is readily available to cost of technology as plummeted. I see across the investors I speak to, fundamental investors who are rapidly moving towards sophisticated quantitative techniques data driven techniques to adopt into their processes. think you're asking a question that a lot of people grapple with, my own background is as a systematic manager, as you noted from reading the materials. And I think the material to your point are a little bit unique because I am using a strategy that's designed to be objective, designed to be mathematical and statistical in nature. And yet I spend time on the ground within the countries, hearing about the themes, looking to validate my thesis, looking to gather new ideas. And the way your question is often posed to me is what's the point of that if I'm using a model that's already been constructed and that it's entirely data driven, what's the point of being on the ground within those markets? So I think two points I really want to emphasize. One is that I do think that there is great value in using an objective data driven systematic process. And it's absolutely true that a character is my investment strategy as systematic and it's backbone. And some of the advantages of that type of approach are just very, very palpable. I think relevant across all markets, but even more relevant in the context of inefficient markets like emerging markets. So whether it's breath, the fact that I can using a piece of software evaluate 15,000 securities all at once, that is a tremendous advantage relative to a fundamental analyst who is constrained by how much information they can carry in their brain essentially. It's a real tangible advantage if I'm looking to trade a stock in Vietnam and it looks attractive on many characteristics, but it's trading at its foreign ownership limit. Using the power of technology, the power

Asha Camden David Stein Asha Mehta Asha Metta Global Delta Capital Acadian Asset Management Japan CFA Forbes Magazine Goldman Sachs Canada U.S. India David Vietnam
A highlight from If you pay 50% of retail prices, youre paying too much! Queen of couponing & TikTok star, Kiersti Torok reveal$ what YOU need to know to save BIG on Black Friday, Cyber Monday & beyond

Trading Secrets

01:53 min | 6 d ago

A highlight from If you pay 50% of retail prices, youre paying too much! Queen of couponing & TikTok star, Kiersti Torok reveal$ what YOU need to know to save BIG on Black Friday, Cyber Monday & beyond

"The following podcast is a dear media production. I got a trading secret for you you got to listen up to, especially if you're single. Matched it a study in 5000 U.S. singles revealed that the cost of being single has skyrocketed in the past ten years. But I'm also writing a book on financial independence in the relationship between money and love. And being financial independent is so imperative. So hear me out here. This information all comes from match, especially if you're single and you're going on dates. 84% of singles say they prefer a casual date. 30% of them prefer to do a free activity. 29% of them want to go somewhere close to homes. They save on gas. 26% would rather home cooked meal versus eating in a restaurant. 25% are just fine with meeting for a coffee or drinks. And 24% think they're going on dates in inexpensive restaurants are better off. So if you're in the dating game, you don't have to empty your wallet. You don't have to spend an exorbitant amount. You could do free activities. You can meet the right people. And through the match app, you can do that. Match believes that the most important relationship is with yourself. So, in a world where you can choose to do anything, or anyone, choose you first, because dating someone who knows what they want and won't settle for less, that's sexy as hell. You already know, the best relationships show up when you show up for yourself. And there's never, ever, been a better time to try match. So, download the match app today. Give the match app a try. And trust me when I tell you through their studies, these are individuals who are looking for a casual fur state. Download the match app today.

U.S.
A highlight from 11.18.22  Clark Answers His Critics on Clark Stinks  /  Supermarket Big Brands Taking It To The Limit

Clark Howard Show

01:00 min | Last week

A highlight from 11.18.22 Clark Answers His Critics on Clark Stinks / Supermarket Big Brands Taking It To The Limit

"This podcast is brought to you by progressive. Are you thinking more about how to tighten up your budget these days? Drivers who say by switching to progressive save over $700 on average and customers can qualify for an average of 6 discounts when they sign up. A little off your rate each month goes a long way. Get a quote today at progressive dot com. Progressive casualty insurance company and affiliates. National annual average insurance savings by new customers surveyed who save with progressive between June 2020 and May 2021, potential savings will vary. Discounts variant are not available in all states and situations. I'm so glad to welcome you here to the Clark Howard show our mission is to serve you and empower you to make better financial decisions in your life. For we begin, I need to tell you you have two lazy people here because

Clark Howard
A highlight from 11.17.22  Crypto: The FTX Collapse  /   Scams Targeting Seniors

Clark Howard Show

05:46 min | Last week

A highlight from 11.17.22 Crypto: The FTX Collapse / Scams Targeting Seniors

"I addressed it in my TV work about the opportunity, the FTX was making available to people where you could use them as an exchange for your crypto. And then they would pay you a way above market rate return on your money because they would take your crypto and then they'd lend it out. Well, crypto and exchanges are not regulated in any way like normal money. And I was trying to explain to someone the other day who just couldn't get the concept. I want to take you back. There was a time in American history where particularly in frontier America, money was issued by individual local banks. I know this is weird to think of, but people lived so local and isolated areas, and so the bank where people would deposit their money would also print money kind of like what we refer to today as script, non governmental money that's like an IOU and that's what people would use and then the bank would go bust and whatever money people had in the bank was gone. That's the closest analogy I can think of that's ultra simple to explain what's happened with FTX and other exchanges because FTX is not the first and it won't be the last exchange or crypto that's going to blow apart. And I kept saying to people who were calling me and contacting me and asking us questions here on the podcast I kept saying understand there's no FDIC there's no oversight of what's happening with your money and there's a reason that you're getting a way above market rate return on your money because the risk that it entails. And this was a classic run on the bank. It was word out on the street, roughly a week ago that there were problems with FTX and it was almost like a self fulfilling prophecy because then there was a run on their assets. They quickly went and solvent. And what you need to know is crypto, as I've said, gosh, Christa, I want to bring you in. How many years have we been taking questions about crypto at this point? Is it ten? It's got to be now. It's got to be a long time. And there's so many cork stinks about why you should have been more positive about crypto. Over and over again. All through the years and I have been, I've always talked about the underlying architecture being something that is very modern and it's going to be very applicable and could actually eventually save people money, but speaking of money, the reason crypto has been fake investment and really just speculative is that if you're going to use something as a form of money, it should have a stable value. Crypto way before all this went wrong with the various exchanges and all that crypto has not been at all about stable value. People have looked at it as a shortcut to get rich. In a very short cycle. And that's not real yet. That's not real money. And until you can go in somewhere and use your Android or iPhone and just buy something with crypto, it's not the real deal yet. And have a value that the merchant is comfortable accepting that money and you're comfortable holding money in that crypto we're not close. I talked before about the celebrities who have been doing all these endorsements and in the Super Bowl this past February, it was a who's who famous or near famous people who were touting crypto and they all have egg on their face, but the interesting thing, do you know a lot of them took their payment in the crypto that they were pitching? And now they're wiped out too. Reputational harm, and they don't have the money for having put their reputation at risk. What's going to happen next in the United States? Nobody really knows there's this big intramural fight going on in Washington, politicians, the regulators, all trying to figure out who is going to set up rules for crypto. Because the result of people losing billions upon billions of dollars is somebody wants a cop on the beat. But that cop on the beat has to allow the creativity and ingenuity that underlines these new forms of money to have an opportunity to flourish at the same time protecting people from scams and from insolvent enterprises. So is Washington going to get that right? Beats me. But what you need to know is never, ever. It's like if you went to Vegas, you never want to gamble away money that you have to have. You never want to buy the power thingy ball or a big game thingy. They're both called that one was just like $2 billion. Powerball, mega millions. Did you buy one of those? Anyway, somebody won one person one 2.1 billion. Even after-tax and that's a lot of money.

Frontier America Fdic Christa Super Bowl Washington United States Vegas
A highlight from Is Cryptocurrency Dead?

Money For the Rest of Us

05:04 min | Last week

A highlight from Is Cryptocurrency Dead?

"Welcome to money for the rest of us. This is a personal finance show on money. How it works, how to invest it and how to live without worrying about it. I'm your host, David Stein, today's episode four ten, it's titled, is cryptocurrency dead? Last week, FTX, the third largest crypto exchange in the world by trading volume with a 10% market share, filed for bankruptcy. FTX was founded in 2019 by Sam bankman freed. It had over a million customers in 2021. This past February during the Super Bowl FTX ran and add featuring Larry David, the comedian. In the ad, he was highly skeptical of numerous inventions throughout time. The tagline of the ad was don't be like Larry. Don't miss out on crypto. NFTs, the next big thing. Now apparently, FTX is customers are missing out on over a $1 billion of their funds that they had custody at FTX. The money's gone and the security and exchange commission and the Justice Department are investigating. John J ray the third, the new CEO of FTX, because bankman fried resigned said that chapter 11 is quote appropriate to provide FTX group the opportunity to assess its situation and develop a process to maximize recoveries for stakeholders. In an interview with New York Times journalist David yafi Bellini, bankman freed, said that his affiliated trading firm, Alameda research, had a large margin position on FTX, which means Alameda had borrowed a significant amount of money from FTX. Bankman fried said it was substantially larger than I had thought it was. And in fact, the downside risk was very significant. He continued, had I been a bit more concentrated on what I was doing, I would have been able to be more thorough. That would have allowed me to catch what was going on on the risk side. Bankman freed founded Alameda research in 2017. It was a trading firm. It had offices in Berkeley, California, and it made millions of dollars initially exploiting inefficiencies in the Bitcoin market. There was a close linkage between FTX and Alameda. Alameda would trade on the FTX platform, which means sometimes it was taking the opposite side of the trade of FTX customers, potentially a conflict of interest. Bankman freed in the past has suggested that Alameda was providing crucial liquidity for customers to be able to trade. Ian Allison of coindesk pointed out just over a week ago that Alameda largest asset was a token, a crypto token issued by FTX, the token was FTT. Alameda's, as of June 30th, had almost $15 billion of assets, but close to $4 billion was FTT, this token. Corey clipston, CEO of the investment platform swan Bitcoin said, it's fascinating to see that the majority of the net equity in the Alameda business is actually FTX own centrally controlled in printed out of thin air token. Holders of those FTT tokens could get discounts on FTX trading fees, but as Nick Carter partner at venture capital firm castle island venture says, they printed this token out of thin air, endowed it with some valuation and then Alameda used it as collateral. A lot of money is printed out of thin air. We discussed last week how the International Monetary Fund created billions of dollars of SDRs there monetary token out of thin air. They just allocated these SDRs. They're value is set by a basket of Fiat currencies, which, as we know, can be created out of thin air. Money in and of itself is a made up thing. What we need is trust for that money to be effective. It needs to be trustworthy. It needs to be convenient so we can have transactions and it needs to maintain its value. When trust dissipates, we can have bank runs, particularly when the crypto token in question is private money. Private money is money created by non government entities. Checking accounts, which are liabilities of commercial banks, that's private money. So are savings accounts. Money market mutual funds are private money issued by

FTX Alameda Alameda Research Bankman David Stein Sam Bankman Security And Exchange Commissi John J Ray Bankman Fried Ftx Group David Yafi Bellini Larry David Ian Allison Coindesk Justice Department
A highlight from 11.16.22  Mortgage Rate Outlook  /   Our Power Equation

Clark Howard Show

02:28 min | Last week

A highlight from 11.16.22 Mortgage Rate Outlook / Our Power Equation

"Talking about mortgages. Where do I think rates are headed from here? And some great news for you about how lenders are starting to decide whether your credit worthy for that mortgage. This is a significant change in the marketplace. Later, so much talk about energy. How are we going to have a reliable supply of energy? How are we going to get that done? I want to tell you about some innovation going on in the marketplace because the marketplace is where it needs to happen. So mortgage rates have done what's known as a decouple. Normally, there's this thing rich people, it's like a CD for rich people and big institutions called the ten year treasury and the ten year treasury is a direct obligation of federal government and the rate on it normally is the marker for what you pay on a mortgage. And there's an amount above the ten year treasury historically that mortgage rates would set up. A mortgage is more risky for an investor than a direct obligation of the federal government. And I should say why the ten year treasury, why that because I take out 30 year mortgage because most people don't keep their mortgage for anywhere close to 30 years. Ten is kind of like a good marker. So they know, okay, so federal government, we're going to lend them money at this amount, interest rate. Let's lend money to you or me buying a house at this amount more. Right now because of a bunch of weirdness behind the curtain, you don't need to know the spread is greater than normal between the ten year treasury and mortgages. That's why mortgage rates went up, up, up, and up and up in such a short cycle because of things going on on Wall Street. So as the inflation curve ultimately bends, and let me tell you, inflation is not forever if you have the will to take it on. And it seems that the Federal Reserve clearly has the will and it's just a matter of how much pain there is from here to there to squeeze the inflation out of the economy. It will happen.

Treasury Federal Government Federal Reserve
A highlight from 11.15.22  FIDUCIARY OR BUST  /   Automation Meets The Labor Shortage

Clark Howard Show

00:55 sec | Last week

A highlight from 11.15.22 FIDUCIARY OR BUST / Automation Meets The Labor Shortage

"This podcast is brought to you by progressive. Are you thinking more about how to tighten up your budget these days? Drivers who say by switching to progressive save over $700 on average and customers can qualify for an average of 6 discounts when they sign up. A little off your rate each month goes a long way. Get a quote today at progressive dot com. Progressive casualty insurance company and affiliates. National annual average insurance savings by new customers surveyed who save with progressive between June 2020 and May 2021, potential savings will vary. Discounts variant are not available in all states and situations. It's my pleasure to welcome you to the Clark Howard show, where our mission is to serve you and empower you so you make better financial decisions in your life. In today's episode, you've heard

Clark Howard
A highlight from 11.14.22   Internet Security Beyond Passwords  /  A Different Kind of Auto Insurance

Clark Howard Show

00:58 sec | Last week

A highlight from 11.14.22 Internet Security Beyond Passwords / A Different Kind of Auto Insurance

"This podcast is brought to you by progressive. Are you thinking more about how to tighten up your budget these days? Drivers who say by switching to progressive save over $700 on average and customers can qualify for an average of 6 discounts when they sign up. A little off your rate each month goes a long way. Get a quote today at progressive dot com. Progressive casualty insurance company and affiliates. National annual average insurance savings by new customers surveyed who save with progressive between June 2020 and May 2021, potential savings will vary. Discounts variant are not available in all states and situations. It's my pleasure to welcome you to the Clark Howard show where our mission is to serve you and empower you to make better financial decisions in your life. One way to do that is by taking your questions in this podcast. But we

Clark Howard
A highlight from $325k podcast offer? Shannon Ford reveals the key to her wild success through reality tv, podcasting and staying true to herself PLUS $600k+ on Etsy! Listener Julie tells us how

Trading Secrets

05:55 min | Last week

A highlight from $325k podcast offer? Shannon Ford reveals the key to her wild success through reality tv, podcasting and staying true to herself PLUS $600k+ on Etsy! Listener Julie tells us how

"Making that money welcome back to another episode of trading secrets today is one I'm telling you, it's just jam packed. We have Shannon Ford, who was on the cavalier berry Cavallari show, and she gets into all of her finances. How much she spends, how much she makes, it's literally gonna blow your mind. And also, we have a person from the money mafia that's on board. She started a printables company on Etsy, literally by just printing. Games that people can play if they're on a bachelorette party. You can print it out, you can buy it, and she starts selling those and was making thousands, in tens of thousands, and hundreds of thousands of dollars. She then created a class for people to do the same. They're now making millions. So we have a viewer from the money mafia that comes on and gives us a ten minute breakdown of their whole story. We have Shannon Ford, who talks about every penny coming in the door and out the door. And you'll want to stay tuned to the recap because the curious Canadian has so many thoughts. But before we open the bell, we'll Shannon Ford. David, you got any thoughts? Well, I love the connection there between making money off bachelorette parties and then Shannon Ford being from Nashville because Nashville is the bachelorette capital of the world. So the little connection there, awesome story from one of the money mafia members. But look, if it's Monday and you're listening to this and you need a little pick me up and confidence, just listen to Shannon Ford, she'll inject it right into you. There are no signs of her not knowing what she wants and how she's going to get it. So an absolute electric episode with Shannon Ford. If you lack Edie confidence, you take just a little sprinkle of the Shannon Ford theory. No, the shit what would you call it? The Shannon Ford swag is it? No. I would call the Shannon Ford sizzle. Yes, it's the Shannon Florence sizzle. Take a little sprinkle of that, put in your life, and you'll be good to go and make sure you stay tuned to the recap because whether Shannon knows or not, which maybe she forgot. She's met the curious Canadian. So Shannon, if you're listening, you better listen to the recap too. Let's bring in the opening bell, wish it in Ford. Welcome back to another episode of trading secrets. Today I am joined by the fun loving and highly successful social media star shedding Ford. Many of you may initially remember her as one of the main personalities on the hit TV show very Cavallari where she worked as the social media manager for Kristin Cavallari's fashion company uncommon James. Although Shannon's time on the show lasted just beyond one season, she was able to turn what could have been 15 minutes of fame into a full blown career success story. Today, we are here to discuss the highs and lows of her time on reality TV. Her highly successful social media career, podcast, and where she sees herself going from here. Shannon, thank you being here today. We are New York city. New York City, baby. I know. Well, that's what I think is so ironic. You and I lived in Nashville for so long. We probably ran into each other three or four times and here we are in New York. Where do you live in New York? Do you live in Nashville? What's your story about? I split time, so I was coming to New York so often that I was and hotels in New York or a whole nother beast that you have to navigate. So I looked at my AmEx one day and was like, what the fuck? The amount I'm spending staying at the Dominic. I could fucking have rent here. So anyways, I just was like, if it works out, it works out. I didn't put too much stock or thought into it. I just was like, I'm not going to look for months on end. I'm going to look one time. I'm going to come here, and if something lands in my lap, perfectly, that makes sense, then I'll do it. And then of course, it just happened perfectly, perfect department, perfect, everything. So I was like, all right, I guess I'll do a year. I'll never regret doing a year, but I couldn't give up Nashville. So coming onto a finance podcast, being like things I wouldn't recommend. Having two separate rents. But I just, I was like, you're 28, you can do it right now. You don't even have so much as a goldfish at home. I didn't have a boyfriend at the time. I had no obligation to know anything. So I was like, I want to do this. So I'm just going to do it. I think for me, one of the biggest things I want to check off the bucket list, I never have. Baby never will, is living in New York City. And everyone said that whenever I was like, toying with the idea of people were like, oh, I always said it was so many people that now have kids and now have things that are like, I always said I wanted to live in New York once in my life. And I'm like, okay, well, then I can say I did it. And honestly, I don't, I don't regret. I don't even know if I'll resign my lease coming up, but I don't regret it. And it was great. Okay, we're numbers podcast guy getting the numbers. You said Dominic, you would live, or sorry, you had rent a Dominic's a hotel. Yes, and Soho. And what I would do. What's the cost of Donald? Oh my God. I mean, like for the cheapest room, would be like, it'd be like after taxes and all the hotel, I mean, there's so many New York fees, like all this crazy shit. It would end up being like four 50 a night, and then what I would do because New York is this beautiful, crazy beast in itself. I would be here and this is why I was so drawn to New York. Every time I was inside of New York, something good would happen to me. I would get some sort of opportunity, but they'd be like, are you staying here till Thursday? Because you could do XYZ and there's just always something something something going on and happening. And I'd be like, yeah, I can stay till Thursday so then I'd extend my stay. So every time I came to New York, I was staying for three days, but then I'd stay for 6. Okay. I mean, that's like 2400 bucks. Yeah, I mean without the fees. A 100% and I was doing it twice a month. Okay. So like 5 grand a month and just like hotels. That's just crazy. And then of course, when you're staying in hotel, you're like, I get room service. Oh, I might as well be a coffee. Why couldn't walk across the street to the bug and Starbucks? Why would I just order a $14 fucking French press? Can I say fuck on this podcast? I need time. Okay. Breakfast situation at these hotels, where they'll charge you the $10 service fee, the $20 pot of coffee, it's like a $200 breakfast.

Shannon Ford Nashville Shannon Berry Cavallari New York Ford Etsy Edie Kristin Cavallari Cavallari New York City David Dominic James Donald Trump Starbucks
Your Rental History Can Finally Help You Qualify for a Fannie Mae Mortgage

How to Money

01:14 min | 1 year ago

Your Rental History Can Finally Help You Qualify for a Fannie Mae Mortgage

"First story this week comes from the wall street journal and pretty soon rent payments are going to play a factor in mortgage underwriting us right. Yeah this is the help for home buyers story that we mentioned exactly and it's kind of absurd really that this is not the case. I feel like the fact that you pay your credit card bill a little late and he just like has a massive impact negative impact on your credit score. But that your biggest bill. Every month wasn't an influence on your credit. Right that's just silly and So yeah fannie. Mae is trying to change. That actually announced that this change it's scheduled to take place on september eighteenth and the best part. Is that this. Change can only help. It cannot hurt your chances to qualify a mortgage and if you have been making irregular payments will fannie may not going to include that history. But i think this is good news for renters because it's going to factor into the underwriting forgetting that mortgage it's gonna be really helpful as a sign that you are good with money. It's going to be a helpful factor getting approved for a mortgage when your lender can see that h- that history of on time payments absolutely. Yeah this is great news for especially to first-time homebuyers who have been consistent. Renters consistent payers of their rent You know say over the past couple of years that kind of

Fannie The Wall Street Journal MAE
Understanding 401k Loans

Optimal Finance Daily

02:10 min | 1 year ago

Understanding 401k Loans

"Half of all. Us workers participate in their employer's retirement plan about fourteen percent of those with 401k's borrow money from them understanding 401k. Loans is important both for those who already have alone and those who are contemplating getting one borrowing limits according to the irs. You can borrow up to fifty percent of your vested. 401k ballons or fifty thousand dollars. Whichever is less if you're vested balance is less than twenty thousand dollars. You can borrow any amount up to ten grand vested means you own it for employer matching funds that can take up to five years you are immediately vested in all funds that you put into the plan interest payments one of the unique features of a 401k. Loan is that you pay interest to yourself when you borrow money such as a home mortgage or an auto loan. The interest is paid to the lender when you borrow money from your 401k. You are the lender all interest paid comes right back to you and goes into your 401k account. Awesome right not so fast. Opportunity cost in the financial world. There's a concept known as opportunity costs opportunity. Costs is the loss of potential gain when one alternative is chosen over another in other words. It's what you would have received. Had you done something other than what you did. For example if back in the year two thousand you bought a carton of cigarettes instead of investing the money and amazon. The opportunity cost is sixteen hundred dollars what that can't be right. A carton of cigarettes today is about seventy five dollars adjusted for two percent annual inflation in two thousand. It costs fifty dollars in two thousand one share of amazon stock. Cost one hundred dollars today. It's worth thirty two hundred dollars when you borrow money from your 401k. The opportunity cost is the investment return. You would have earned. Had you left that money where it was over time. Investment earnings become earnings on earnings or compound interest something albert einstein dubbed. The eighth wonder of the world

IRS United States Amazon Albert Einstein
Q&A: Which Money App is Right for You?

Money Rehab with Nicole Lapin

01:53 min | 1 year ago

Q&A: Which Money App is Right for You?

"Just kidding the freelance game and need some advice. I have my first graphic design client and they're putting down ten thousand up for a project i'm doing. They told me. Let them know how they should pay me. So how should i do it so in. There are a ton of players in the financial app space. And i'm going to go through all of them in a minute. But in your case i actually wouldn't go to a payment up for a ten thousand dollar payment. I'd actually recommend that you ask for an ach transfer and before we get too deep into it. What the fuck those. Ach mean well. Ach stands for automatic clearing house. And if that doesn't help you understand the concept. While i'm not surprised. Welcome to the world of finance jerkin to get into what an ach transfer is. I want to get into what it isn't initiating. Ach transfer is not the same thing. As wiring someone. Money people often mix up wire transfers an ach transfers because they both have some top level similarities. Both our bank to bank transfers where the money goes directly from the sender's account to the recipient's account. The difference is speed and cost wire. Transfers typically cost the recipient fifteen to twenty five dollars. Ach transfers on the other hand are typically free for both the payer and the payee the one downside to ach transfers is that they take a few business days for the money to hit your account whereas wire might take hours or even minutes because these types of transfers are bank to bank. You'll need to give the person paying you both your bank routing number and your account number. So you don't want to do an ach transfer with just anyone. You wanna make sure that the person paying you is trustworthy all the better if they have a secure payment portal.

A highlight from 11.11.22  Clark Answers His Critics on Clark Stinks  /  Update: City Relocation Incentives

Clark Howard Show

05:19 min | 2 weeks ago

A highlight from 11.11.22 Clark Answers His Critics on Clark Stinks / Update: City Relocation Incentives

"In conjunction with your high deductible health plan and HSA to keep even more money in your pocket. And that's from Nathan. And so Nathan, the rules generally are you can use it for dental care. I think for vision and dental. Vision dental. So you can do that, but as the primary purpose of FSA. And if somebody needed a lot of dental work in a year, obviously, what I said before is really a lame answer. But in most cases, with the flexible spending account in an HSA, we're talking about medical and if you have the HSA, you're prohibited from using an FSA for purely medical expenses. In your article about Medicare advantage plans, you stated that you could be stuck for life in a plan you don't like. That is not true because you can change every year from October to December, Tom and many other people wrote in as well. Yeah, so I can't think of a topic recently that has generated as much feeling on both sides of the issue. What you can't do and I'm sorry if it's not explained well in our story, is you can not switch out of an advantage plan to traditional Medicare and in most cases qualify for the meta gap that when you first go into Medicare for the first 364 days, you can switch out of an advantage plan if you realize, oops, I shouldn't have done this. And get a meta gap policy, which covers all the various expenses that Medicare does not normally cover and deductibles and all that. You can't go into one without medical underwriting. And the thing is, as we age, a lot of people are not going to be able to medically underwrite for the supplement in which case you're looking at potentially very large out of pocket each year. And that's why advantaged plans become hotel California. You can check out but you can never leave. Unless you're somebody with great resources. But what's been fascinating is the animation of people and talking to me. I'm getting stopped in stores about this. Somebody will say, I just got to talk to you about this advantage. They do it with such energy. I don't know if they're going to tell me their horror story being in an advantage plan or tell me why I'm missing the boat and how great advantage plans are. So here's my thing with anything like this. When you make a decision that limits your future options, that makes a product effective. You think about timeshares. They are defective product because you buy one and you can not sell them. With advantage plans, the fact that you're in and then you're in for the rest of your life, even if the quality deteriorates over time or the options available to you decline, that's what makes it effective is you can't go easily back into traditional Medicare. Clark recently said that a person who didn't pay a $150 dental debt that was sent to collections would get hit on their credit report. I thought there was new legislation that all medical debt under $500 could no longer be listed on a credit report. Not encouraging a debt to go unpaid, but it may not be as big of a deal if there's no hit to the credit, Ken. Ken, it is correct that under the new credit reporting requirements, medical debt up to $500 will not reflect on a credit report. The issue with the $150 is the way collection agencies play the game. By the time they've added on all their extraneous charges, it may break the $500, even though it started off as one 50, and that's why I don't want to treat the $500 is an ironclad safe harbor for smaller bills. The intent of the new law, the new law and the implementing regulations is that medical debts of various types below $500 will not under any circumstances appear on your credit report. But how that will play out in practice is not clear yet. Clark has been saying for years that having your mortgage sold to a different service, a different company will not service her, I guess. Will not affect your credit score. I've had my mortgage sold 9 times over the past 5 years and each time it comes with a temporary drop and credit score. The timing is never perfect and there's always a period where either have two mortgages or zero, both of which will cause a drop. The drop is temporary, but it can take two to three months for the score to normalize Patrick. Patrick, thank you for that. I'm aware of a mortgage duplicating and it can go on if somebody messes up at a mortgage company. It can keep reporting for a number of months and it makes it look like you're carrying an inordinate amount of mortgage debt, fortunately, as you stated in a normal case where everybody's doing what they're supposed to do. The impact should be extremely temporary. Recently you told the listener that if they had frozen their credit reports, they really didn't need to pay for a credit monitoring service unless he did it to make his wife happy. He should be okay for identity theft.

Medicare FSA Nathan KEN TOM Clark California Patrick
A highlight from 11.10.22  POLL: Money Wisdom   /  Tight Christmas: Thinking Through Your Holiday Spending

Clark Howard Show

01:49 min | 2 weeks ago

A highlight from 11.10.22 POLL: Money Wisdom / Tight Christmas: Thinking Through Your Holiday Spending

"So up first today, it was a question I wanted to ask you. What would you tell your younger self if you could? And the responses were so interesting, there were certain patterns as well as differences. I just wanted to share some of the highlights with you. And later, how are you going to handle your holiday shopping in the midst of this inflationary cycle that we've been in lately? And the inflation is, it's really dispiriting when you go to the supermarket and you see what things cost. So let's go to something positive. And when I share this with you, some of these things are going to sound wistful, regretful, but they're wisdom that is shared over and over again different ways different words. So again, what do you wish your younger self knew about money? It was a question that was posted by Jonathan Clements on his website. I saw some of the responses there. And I was like, hey, I don't have to see what our audience would say. They wish their younger self knew about money. And there were several of this theme that the stock market was accessible and not just for the rich. And think about that because now you can open an investment account with a discount broker for as little as $1, a fee free account for $1. And I go back to when I was a young guy in the stock market, was truly really only accessible to the very wealthy and this is a democratic with a small D era for investing.

Jonathan Clements
A highlight from What Is the IMF and Why Is It Controversial?

Money For the Rest of Us

04:04 min | 2 weeks ago

A highlight from What Is the IMF and Why Is It Controversial?

"Show on money. How it works? How to invest it how to live without worrying about it. I'm your host, David Stein, today's episode four O 9. It's titled what is the IMF and why is it controversial? In July, 1944, 730 delegates from 44 nations met at the mount Washington hotel in bretton Woods, New Hampshire, for the United Nations monetary and financial conference. Their goal was to establish a new monetary system. One that could tap into some of the lessons from the gold standard where currencies were backed by gold, that system fell apart after World War I, but at times countries did back their currency with gold, sometimes they didn't. Sometimes they would devalue their currencies to make them more competitive or to make their exports more competitive. They would put up barriers or tariffs, protection to protect their economies from foreign trade. The idea was to make a system that fostered more stability in exchange rates and more cooperation, more globalization. The primary designers of this system were John Maynard Keynes, who was an adviser to the British treasury and Harry Dexter white. The chief international economist at the US Treasury Department. There were two years of preparation for this conference. A lot of discussions and potential agreements. The conference itself was held from July 1st to 22nd, 1944, and they came to an agreement, and as part of that, they established two new organizations, the international bank for reconstruction and development, which later became part of the World Bank and the International Monetary Fund. According to the World Bank, here's what they do. The World Bank group works with developing countries to reduce poverty and increased shared prosperity. While the International Monetary Fund serves to stabilize the international monetary system and acts as a monitor of the world's currencies. The bretton Woods monetary system lasted from 1945 until 1971. Countries agreed to keep their exchange rates pegged to the U.S. dollar and the U.S. agreed to keep the U.S. dollar pegged to gold. Countries could only adjust their exchange rate relative to the dollar if there was some type of fundamental disequilibrium and only with the agreement of the International Monetary Fund. The IMF had a great deal of power in policing this bretton Woods currency exchange system. In August, 1971, U.S. president Richard Nixon announced what he called at the time temporary suspension of the dollars convertibility into gold. Under the bretton Woods system, central banks from other nations could take dollars and exchange them for gold. At the U.S. Federal Reserve's gold window. That system started to break down because the value of gold, it was upward price pressure because there were more and more dollars being created relative to the supply of gold. The system collapsed finally in 1973, most major currencies began to float the exchange rates relative to each other. Members of the International Monetary Fund and now a 190 countries that are members of the IMF, they can allow their currencies to float freely relative to other countries. They can peg it to another currency or a basket of currencies. They just aren't allowed to peg it to gold directly anymore. And this episode will take a look at the IMF, but briefly on the World Bank, they have funded over 12,000 development projects since 1947.

IMF David Stein Mount Washington Hotel British Treasury Harry Dexter White Us Treasury Department Bretton Woods World Bank John Maynard Keynes U.S. International Bank For Reconst New Hampshire United Nations World Bank Group U.S. Federal Reserve Richard Nixon
A highlight from 11.09.22 A Hard Lesson in Hotel Booking  /  Scam ALERTS

Clark Howard Show

01:48 min | 2 weeks ago

A highlight from 11.09.22 A Hard Lesson in Hotel Booking / Scam ALERTS

"It's my pleasure to welcome you to the Clark Howard show. Our mission is to serve you and empower you, to make better financial decisions in your life. Up first on this episode, a ridiculously wild story about a hotel booking gone wrong. You're just not going to believe it. Want to know how you can protect yourself when booking travel. Well, I'd like to know sometimes. But usually I know how to tell you how to do that. Also, I have several scam warnings. I want you to be on the lookout for things that are popping up a lot right now that seem legit when you see them later. The New York Times has a column called tripped up. It's where people, it's like they have a who goes to work for people who have something really gone bad wrong with the travel experience. And there's an unbelievable story. It was The New York Times recently about a woman who was several months pregnant, flies into Laguardia airport, had booked a hotel on booking dot com and didn't really know how to use a hotel booking site. Gets to the hotel and the hotel no longer exists. Because it hit become a homeless shelter. The neighborhood it was in was when she shouldn't have been in in the first place. What happened next with booking dot com, which, by the way, is the parent company of priceline, was beyond horribly ridiculous. Customer knows

Clark Howard The New York Times Laguardia Airport Priceline
A highlight from 11.08.22  Charities: Season of Giving Guidelines  /  Privacy For Sale

Clark Howard Show

05:56 min | 2 weeks ago

A highlight from 11.08.22 Charities: Season of Giving Guidelines / Privacy For Sale

"Well, it's officially that time of year where you're going to see one charitable solicitation after another after another in your email, some by text, people at street corners in the traditional mail and how do you know who's legit? Who's on the up and up? Who should be getting your money? And if you got older relatives, older parents, let me tell you, they got a bullseye target on them. The scammers, the crooked charities, they're going to come after them hard. You got to roll to play here. Also, we talk a lot about privacy being tracked and all that with everything we do. What if this was flipped on its head and you got paid for people to be able to spy on you and see what you're up to when it talk about that? So my mom who's been deceased for a while. Went through a long decline from dementia. And she baselined back in year 2000 with early decline, and it was clear what her path was going to be. And we were really lucky as kids. Because usually as people develop more dementia over time, they can get kind of grouchy and maybe not be the parent you remembered. We were really lucky as a small percent people are that our mom had what they call euphoria every day was the greatest day it could ever be. It's always smiling, always happy. Didn't know who she was where she was or anything or who we were. But her name was joy. And she was joyous. Till her last breath. So that was a gift we got. But there was this time period. Let's call it a way station. Where our mom was still living independently, sail on our own, but was not making the best judgments and decisions. And turned out she was being very heavily scammed by fake charities. And we figured this out because mom was running short of money. And it turned out she was giving all this money. I remember she told one of my brothers when he asked, so why'd you get money of these people? Her answer was so real. She said, because they asked, and so we had to put procedures and place where we intercepted all our moms mail. Because back then, they weren't soliciting by email like today or anything like that. So intercepting the physical mail worked really well. And we were able to stop that. At least coming through the mail, we had a different issue with people calling her on the phone. And conning her into giving money. But we were able to get it under control somewhat. But this time of year, during the Christmas season, we, the American people, are so generous. And so giving, we have a culture of charity that is not unique in the world, but is unusual in the world how much we want to give, how much we want to help, and that makes us susceptible, this time of year, regardless of age, to ending up getting taken by phony baloney. The IRS short staffed overwhelmed, has been actually approving a lot of organizations that are crooked. And so they look to be official IRS approved charities. Then there are those that are just out and out bogus, but even just because an organization is IRS approved doesn't mean they're okay. So how do you know something's okay? Number one in my favorite is if you're involved in your community and locally, you know an organization that you really believe in, you give to them because you know what they do. You may even volunteer with them. You know if they're efficient, if they're not, if they're well run, you know if they're not, that having that local connection makes a big difference. But let's say you don't have those kind of local connections. You have that giving spirit. And you're getting solicitations all different ways now, email, phones, not as much anymore, but email texts. I got a lot of texts from charities. I'd still get the physical mail. So how do you decide? Well, it's really easy. There are organizations that check out charities to see first of all, if they're legit, but second, this is the biggest factor that eliminates charities that are efficient with the money that's donated. That's a much smaller group than the number of charities that are out there. There are multiple organizations that do this each use a different methodology, but they get to a similar result, which is, hey, you give to these people, you can feel comfortable and confident your money is being well spent. You give to these other people not so much. I've got a briefing at Clark dot com on these. But the three principles are charity watch, charity navigator, and give, all dot orgs. I want you to not be impulsive giving money. What do you think through your overall giving strategy? We only have so much money we can be generous with.

Dementia IRS
A highlight from 11.07.22   A Potentially Perilous Home Buying Trend  /  Airfare Booking Strategy

Clark Howard Show

04:52 min | 2 weeks ago

A highlight from 11.07.22 A Potentially Perilous Home Buying Trend / Airfare Booking Strategy

"Sharing the purchase with family or friends. Also, we've been talking about how expensive travels become. Is that here to stay, and whether it's here to stay or not, what do you do today if you need to buy travel to bend the pricing to your budget, at least part way? I'm going to fill in. So the big run up in housing prices has made people really rethink purchasing and people are purchasing homes together with a friend with a family member, whatever. People are doing a variety of things to try to be able to afford a home. And I will tell you based on years of experience that these situations can blow up because I really only seem to hear from people when it has blown up on them, where they bought a home with a friend, a family member, one case of work colleague, because it helps you get in the door, but then lots of things can go wrong other than just money or relationships like an example is what happens if you move in with someone and you co own a house and you're sharing the common space, you're sharing the kitchen, you're sharing the living room, you're sharing to homes still have dining rooms, I guess it depends on the home. But you're sharing those common spaces and you each have your own room. Hopefully you should have your own bathroom. Because people live different lifestyles, even people you feel like you know really well and the friction that can come under a roof when people live those different lifestyles and it can be as simple as one person is really neat and the other is really messy. And you may think, oh, is that really going to be a problem? Yeah. Yeah, that becomes a problem. What happens if one person stops paying the mortgage or their half they're paying late or they're responsible for paying this and you're responsible for paying that and something doesn't get paid. I mean, these are the kinds of things you really have to think about. I like situations where people could still have some of the financial risks, but you eliminate a lot of the other risks if it's not co living at a resonance. And I've talked about this before where you might have something where there's could be a duplex could be house that Scott like a garage apartment basement apartment. Something where it's divisible in a way that each person has their own private space, their own living room, their own kitchen. Their own bathroom, doing those kind of things, it's kind of like that old thing fences make good neighbors. be too much togetherness. And there are people that everything I'm saying will not ring true. That you know each other so well things work so well that you're fine living in a place with each having your own bedroom, but then sharing the common space. But you could have something where somebody is a night owl and the other person's an early bird, early riser. Then that can become difficult as well. I'm really sorry for putting this in a frame a box that's all like, well, this could happen bad. That can happen bad. This other thing can happen bad. Why would I do that? Because there are situations in life that are much easier to get into than to get out of. So if you do enter something like this and you feel like, hey, it solves this problem. For me, it was this problem for him or her. And this is going to be great. But then the other side once you're in could be the financial could be the living, how you each live makes it not so great. And then the exit from it really hard. Christa. I hate being negative Nellie. And listen to this question from Celine in Georgia. I have a question about a home I inherited with my siblings in 2019. The home is 100% paid for, but one of the siblings of wishes to be bought out. What are the best ways to finance buying the siblings portion of the home? So, all right. This happens a lot. With an

Scott Christa Nellie Celine Georgia
A highlight from $365K as Jerry Springers head of security? Steve Wilkos reveals the $ecrets behind his massive success through different careers, insane work ethic and knowing your worth

Trading Secrets

04:25 min | 2 weeks ago

A highlight from $365K as Jerry Springers head of security? Steve Wilkos reveals the $ecrets behind his massive success through different careers, insane work ethic and knowing your worth

"Making that money welcome back to another episode of trading secrets. Hey, I'm joined by renowned talk show host, Steve wilkos. Most of you know Steve for one of two things. The head security in the one and only Jerry Springer or as the host of the long-standing talk show, the Steve wilkos show or both since 2007. What you may not know is Steve is a United States Marine Corps veteran and was a Chicago police department law enforcement enforcement officer for 14 years. He has established himself as an authoritative figure known for his abrasive, yet constructive approach to helping guests on his show settle disputes and better themselves moving forward. Steve, the viewers have been asking for you. We got you and we are so excited to have you today. Thanks for being on trade secrets. Thanks for having me. And first and foremost, I want to thank you for your service. We're going to get into the details of the show. What led you to the show before we do that, the trajectory of your career from being a United States Marine Corps to then being a cop in launching your way into Hollywood is something that's extremely unconventional. I want to learn how that happened before I do. There might be people out there that are interested in general in just the law enforcement career. Right now in 2021, the average cop made 65,000 bucks. So when you joined to be a cop, what was salary like then and what made you do it? So my starting salary was in 1990, I got on the police department. I made 26,500. And I just transitioned on a Marine Corps where I was making as a sergeant with 6 years of service. I was making like $12,000. So I felt like I was rich. And I had a Dodge cult that was paid off and I had a basement apartment that I was paying four 50 a month in rent. So I was, you know, I was feeling pretty good about myself. But the reason why I became a police officer and went into marines was my father was a paratrooper in the Korean War or in conflict. And then he was a Chicago police officer. So my dad, you know, when I was a kid, he was like, Superman, you know? So I want to be just like my father and so, you know, I was kind of a screw up in high school and my dad's like, listen, going to the military, you know, straight now, you know, you have something. There's a lot of my friends, some of my friends were just bums hanging around the block after high school. Nobody went to college, but in our neighborhood, no males went to college. So I wanted to do something in my life, and that's why I went into the marines and was thus decision I ever made. And then like I said, I got out. I wanted to be a policeman just like my father. And I was going to do it for 30 years and retire from the police department just like my dad did and but then one day I got asked to work security on the Jerry Springer show. I didn't even know who Jerry was. I went there to work for one day and one day turned into 28 years later. I'm still here. Okay, we're going to talk about how you got that call before we do. There might be some parents out there that have kids that are serving right now or there might be some kids listening right now that are serving. What advice knowing what you know now about Hollywood, entertainment, making it big to also the perception of making it big by double in your salary from 12 K to 26 K when you got out. What type of advice would you have for someone coming out of military work right now and entering into the work world? You know, I had, I enlisted for three, and then I re enlisted for four. You know, and there was a 6 month overlap. So I ended up doing 6 and a half years. But when I got to 5 years, I wanted to, I was going to sign up for another 5 years after my 6 years, and that would have took me at 11, 12 years. I definitely would have did 20 years in the Marine Corps and got a pension. But I wanted to go to embassy duty when I signed it, signed my next contract. And they, you know, the Marine Corps they tell you one thing and then they do whatever they want. So they're like, oh, I'll go pick up the fleet and then we'll give you obviously dirty well. Then I said, okay, maybe it's time to get out of the Marine Corps. Go back to Chicago. So when I knew and I had like a year and a half before I was going to get out. I started making plans about I didn't want to get out of the Marine Corps and have nothing. So I kept in touch with a lot of buddies in Chicago. I knew the police test was coming out. So I flew back to Chicago. And I took the police test, so I was trying to line up things before I got out so that as soon as I got out of Marine Corps, I hit the ground running. I could have collected unemployment. I didn't want to do that. I wanted to work,

Steve Wilkos United States Marine Corps Steve Jerry Springer Marine Corps Chicago Marines Hollywood Police Department Jerry
A highlight from 11.04.22  Clark Answers His Critics on Clark Stinks  /  The END of Standard Return Policies

Clark Howard Show

04:13 min | 3 weeks ago

A highlight from 11.04.22 Clark Answers His Critics on Clark Stinks / The END of Standard Return Policies

"Plans not plans from other entities like healthcare organizations. Correct me if I'm wrong here and I'm actually the stinky one, Beth. Beth, you are right. I was wrong. Checked and you can only check and not every school district school system and union plan is on or on these sites, but they don't do the 403 B's of other types of organizations. So I was wrong and you're right. In a recent episode, you advise folks to back off on the hype surrounding eye bonds. This was disappointing instead you should have told us the tricks to get even more money into I bonds in the short term. The treasury direct site has a gift box option in which you can buy a $10,000 bond in another person's name and someone else can buy one in your name. The clock for redemption and current interest rate on the day you buy it could be gifted a later date following the 10,000 per year rule. An example for me was I have a child with a wedding down the road and I put his future wedding present in an I bond in his name to be gifted at a future date, essentially inflation proofing his future gift. Come on Clark, think outside the box with these once in a generation rates, John. John, thank you. And I think about in our offer advice, the team consumer action center, we've had more questions and complaints and problems that people have had with the I binds than anything this entire calendar year. The I binds have been quite a wonderful thing and a frustrating thing for people at the same time. And the I binds, even though they're here in November, they're earning a lower rate. It's still a great rate and it's a better rate than you can earn anywhere else. Roughly 6 and a half percent. It's quite a deal. What the Zelle Clark, companies that requires hours to be published as a two way street. Should someone with no experience make the same as another with 20 years of experience when it's where that know how makes them more valuable, unions like to do that to appease lousy employees. And yes, I worked for a union and saw this all the time, which pushed me to not only a different career field, but employers who valued excellence rather than just seniority. I recently had something similar happen to me where my company decided to bring all of the people on my team up to a certain entry level. Sounds great. Transparent and a lot of people got a bump. But I and several others were just ahead of that new level by a few $1000 and have been working on that team for 15 years. So now people who just joined the team with few skills working in my field were making just a little less than I was. We asked our manager to create tears which they declined to do. And that wounds from cliff and we got a lot about this. So one more. Unless I work for a government entity, I strongly believe my coworkers have no right to know what I earn. And I have no right to know what my coworker earns. This is private information between me and my employer. You seem to imply that employers often evil entities conspiring to reward people who don't deserve it. What about those companies who actually do like to reward or penalize for unusual performance? Shouldn't the free market decide this? The false concept of pay transparency only serves to feed those envious workers who are often lower performers in who sit around and brew about other people's performance and careers rather than worrying about their own. I grant the earnings between otherwise equal workers is definitely an issue when associated with gender or race inequity. The correcting this issue should still be handled in regulated in the background by the company HR and by proper enforcement of labor laws Warren. Yeah, I have lots of thoughts about this area. It's something that, as I talked about, is happening in Colorado and likely will happen in a small number of other states where employers of a certain size will be required to post pay rates and it's something that there are multiple angles on and as an example, I haven't done that for my company and I have no desire to do so. So it's not

Beth Team Consumer Action Center Zelle Clark John Treasury Clark Warren Colorado
A highlight from 11.03.22  Bonds Update  /  Saving LESS + Spending MORE = Bear Trap

Clark Howard Show

03:06 min | 3 weeks ago

A highlight from 11.03.22 Bonds Update / Saving LESS + Spending MORE = Bear Trap

"In the Christmas shopping season. Well, one of the biggest topics I've been asked about over the last year has been series I savings bonds. And man, they confuse people and people I have some trouble from time to time buying them. I want to tell you how the rates are set has just changed. Not just the rate, but how the rate will be set going forward. And I want to tell you how it works and how it works for you moving forward. I'm also going to talk about something that has freaked me out, what Americans are saving. Has collapsed and not necessarily because of inflation. Some people, yes, but that's not the key. And this is tied right in with it. Big jump in the amount of credit card debt. And then of course, I'm going to get to your questions. So I want to talk to you about the I bonds. I binds became something that I have been at various phases since the 1990s obsessed with. And then I'm like, no big deal. I bonds are inflation binds where you take on the debt of the federal government. You're basically lending money to the federal government to deal with our ridiculously high budget deficits that we run in the United States. And then with an I bond, you are rewarded by not falling behind inflation. Recently, there was a land rush buying them because the interest rate that I bonds were paying was well over 9 and a half percent. People were buying them like mad at our team Clark consumer action center. There were days that the number one question coming in. Day after day was about how to buy series I savings bonds. In short, in the simplest circumstance, although there are ways to go outside the caps, you can buy $10,000 of these each year. They were paying the 9.6 four whatever it was, exactly. They were paying these huge rates because the rate is reset every 6 months. Based on an inflation measurement index that the Federal Reserve uses treasury uses as well. The rate was crazy high the last 6 months. So now that you may not feel it yet, but inflation is not as bad as it's been. The new rate that resets every 6 months now is 6.89%. Still, much better than you can go earn anywhere else on savings. And you have to set up an account at savings bonds dot gov and that will take you to a website called treasury direct.

Federal Government Clark Consumer Action Center United States Federal Reserve Treasury
A highlight from Is Success Due to Hard Work, Talent or Luck?

Money For the Rest of Us

04:41 min | 3 weeks ago

A highlight from Is Success Due to Hard Work, Talent or Luck?

"Welcome to money for the rest of us. This is a personal finance show on money. How it works, how to invest it and how to live without worrying about it. I'm your host, David Stein, today's episode four O 8, it's titled, is success due to hard work, talent, or luck. I recently had my iPhone fixed. I replaced the back of the phone and they actually gave me a new phone for the back and then we used the old screen. I backed up the phone to iCloud, but didn't realize that the two factor authentication app I used wouldn't back up automatically to iCloud without giving its specific permission. That meant I was locked out of a number of websites, including our payroll company. It was a real pain because you had to upload a photo of yourself as well as a photo ID. There are still some accounts that I haven't restored yet just because of the headache of getting access again. Last week, Elon Musk closed on his purchase of Twitter. After a legal battle to try to exit the purchase, as part of the discovery process, the Delaware's court of chancery released hundreds of text messages and emails sent to and from Musk. Charlie warzone in the Atlantic wrote the 151 page redacted document is a rare, unvarnished glimpse into the overlapping worlds of Silicon Valley, media, and politics. I didn't spend much time on the document. But I did look at it and was amused that the stream of messages that began last January has Musk working with one of his associates to get two factor authentication turned off on Twitter so he can access it. Apparently he couldn't access it or was having difficulty with a new phone. Didn't have the passcode to turn off two factor authentication. Basically had this same issue I did. Now I'm clearly not as talented as Elon Musk. But I admit, I found it ironic that here's the world's wealthiest man with a net worth of over $200 billion. And yet, the details of his day to today life, trying to get two factor authentication turned off even offered to do a FaceTime with Twitter so they could see that it was really him so they could give him access. I recently read an academic paper where they quoted a report that the 8 wealthiest men in the world own the same wealth as the 3.6 billion who make up the poorest half of the global population. Wealth follows a power law distribution. Also known as a pareto distribution based on The Economist that developed it. It's known as the 80 20 rule, where, for example, 20% of a business's clients generate 80% of the profits. With a Proto distribution that average isn't very meaningful because a small percentage has the bulk of whatever a measuring in the case of wealth, the average wealth across the world is brought up significantly higher because of the wealth of Musk and other billionaires. The median, the middle then ends up being much less than the average. In a recent academic paper that I'll refer to several times in this show, it was written by Alessandro puccino alessio, a Manuel beyonder and Andrea rapist, three Italian academics, is titled talent versus luck. The role of randomness in success and failure. They write if one considers the individual wealth as a proxy of success, one could argue that it's deeply asymmetric and unequal distribution among people. In other words, the top 8 billionaires have more wealth than half the world's population. That's either a consequence of their natural differences in talent, skill, competence, intelligence, ability, or a measure of their willfulness, hard work, or determination. Is that what it is, are some people so much more successful because they're just incredibly more talented or intelligent or hardworking. In the paper that they point out that human qualities, though, are normally distributed. The average IQ is 100. Nobody has an IQ of a thousand or 10,000. We all had the same 24 hours per day. Nobody works a billion times more hours than anybody else. And yet, some individuals are much more successful. Incredibly more successful. A few weeks ago, I was in New York City, visiting with my sisters. We all flew in.

David Stein Elon Musk Delaware's Court Of Chancery Charlie Warzone Twitter Musk Headache Alessandro Puccino Alessio Manuel Beyonder Atlantic Andrea Rapist New York City
A highlight from 11.02.22  New Tax Brackets   /   Side Gig Opportunity

Clark Howard Show

05:40 min | 3 weeks ago

A highlight from 11.02.22 New Tax Brackets / Side Gig Opportunity

"We don't keep you as a prisoner. You can say, Clark, you caught me. I didn't want to do that. How do I get out of this? We make it really easy for you to kick us to the curb if you decide you don't like it. Now, one thing a lot of us would like to unsubscribe from our income tax bills. But actually, because of the hideous inflation we've had recently, there's big changes in the tax brackets and it means that some of the decisions people in the financial services industry might try to push you to really make no sense at all for most people with where our tax rates are and our tax brackets. And later, wow, 10 million unfilled jobs in the United States. 10 million, that is a lot a lot, a lot of employers still begging for workers, even as the economy is shifting into a lower gear. So there's a way maybe you can tackle some of that inflation that's eroded. You're living standards or made it hard for you to pay your bills. By getting a gig or a side job and we're going to talk about that. So there's a lot of people who aren't living trying to convince you that you want to open a variable universal life policy. Or you want to buy this crazy impossible to understand annuity that has a 180 page contract that goes with it. By the way, not only don't, you understand it, the sales person selling it to you. They have no idea what that 180 pages means either. They'll talk about all these wonderful tax angles with you buying this convoluted, crazy, basically bear trap insurance stuff. The changes in the tax brackets make it even less appropriate for almost all of us. Okay, married couple, do you know that the tax rate caps out for you? Caps out. At 24%, up to an income of $364,000 in a year, single individual, 182,000, okay, there aren't a lot of people earning beyond those numbers. The time that you should buy any of these crazy annuities or life insurance policies, is below those two numbers, 182 for an individual, 360 four for a married couple. Is never, never, never, not ever when you should be even considering any of these supposed wonderful tax avoidance strategies by buying somebody's annuity or somebody's life insurance policy. The tax rates by historical standards are very, very favorable today. And generally, the time that you would start being years open for these various tax avoidance strategies that the insurance people pedal is when your income for a single individual is higher than $578,000 for a married couple, 6 93, almost $700,000 in a year. We've narrowed it to like almost nobody. And then even people in those categories there are a lot of questions to ask. Before it makes sense to buy a variable universal life policy or any of its cousins or siblings. These products are pushed so heavily as a way for you to have supposed risk free money and suppose it tax free money later in your life. So first of all, they're not risk free. At all, and second, any kind of universal life policy can have ugly, ugly, ugly, tax bombs. But that's not even the worst part. There's actually two things that make these products a defective purchase. For people of any income level, one, the expenses embedded in them, the expenses and commissions are astronomical. And two, nobody has any idea what they're actually buying. Any product that is so complicated that you're relying upon a colorful brochure that has no standing under the law and can say pretty much anything they want it to say. The policy illustration. And you're buying based on the promises of somebody you went and played golf with who you really enjoy being with and they get you to give them all this money of yours and then years later you find out, oops. This is a disaster. This is a problem again and again and again. The reason the tax brackets matter so much is that believe it or not,

Clark United States Golf
A highlight from 11.01.22  Roth IRA & 401(k) Limits for 2023   /   CLARKONOMICS: The Deficit Reckoning

Clark Howard Show

05:26 min | 3 weeks ago

A highlight from 11.01.22 Roth IRA & 401(k) Limits for 2023 / CLARKONOMICS: The Deficit Reckoning

"Have heard that the amount you can put in a 401k or similar workplace kind of plan was increase for 23 to huge amounts. But the headlands buried the lead and in fact, it hadn't been talked about at all. Roth IRA rules changed as well and I want to tell you about the changes in the Roth and also I have a car economic segment coming for you on the economy and our deficit. So the Roth IRA contributions, which are so key to me, have lagged under the law so far behind what you can put in a 401k. And why and the infinite wisdom of the U.S. Congress, the law is set that way. I don't know. Because you can put these ginormous amounts into a 401k over $22,500 unless you're older you can do $30,000 in a year into a 401k. And that's what all the headlines were about. But the truth is, there's almost nobody who puts into a 401k. Up to what the federal limits are, even before they reset for 23. So Roth though, on the other hand, people have been limited for years to $6000. That's bumping up to 6500. If you're 50 years old and over, you're allowed to do 7500 in 23. And this is good news, but I still don't understand the disparity. I don't get it. Why people who are, let's say, self employed or work for a small business doesn't offer a retirement plan. Why they are not able to save with both hands tied behind their backs, not able to save people who work for a larger company that can have an afford and offer a 401k. But I'm not in the Congress. I can't fix this. So the good news is at least you can save a little more, but the great news is the income levels that make you eligible for a Roth have been raised quite a bit because the inflation we've had recently in the economy. If you're a single individual, you're able now to contribute to with your income up to a 138,000 in a year. That's going to cover most people out there working in a job. If you're married, 218,000 is what you have to make as a couple before you lose eligibility to do a Roth. So it means that a lot of people who were not eligible before are now going to be eligible to contribute to a Roth IRA in 23. Why do I love a Roth so much? Because you put money in it, it grows tax free over the years and then when it comes time and retirement to spend money, you spend it tax free. And because it's money that is not subject to taxation and retirement, it means that it doesn't mess up other things like what you have to pay in taxes on what you're getting from social security or anything else. It doesn't mess up what you have to pay for Medicare for the parts that are adjusted based on your income and premiums. There's a lot really great about the increase in the Roth. But again, the frustration I've had for so long I can't even remember is why is it that we give such a lag up to people who work for big employers versus people who work for small employers or self employed. The why makes no sense don't get it and I wish that our elected leaders would get their act together because I always talk about how much they love entrepreneurs and small business and all that. But the talk only carries so far because what matters is actions and the actions that need to change is giving people who are in jobs that they don't have access to retirement plans. The ability to contribute decent large amounts to retirement, like other earthlings and I don't know where it comes from over the years that Congress has always treated people who save in a raw so differently than people who save in a 401k. And when I say Roth, that short for Roth IRA because you could have a Roth 401k as well. So I am talking about the IRA. And what we're on this subject, if you're not participating in a retirement plan at work that's offered to you, or you're not doing your own Roth IRA. You're missing a real opportunity for financial security down the road. And Krista, what questions you got for me today? I'm going to start with Jeff in Georgia. He says about three years ago, I increased my Roth IRA contribution, but failed to adjust my automatic investment plan.

Roth Congress Medicare IRA Krista Jeff Georgia
A highlight from 10.31.22   Netflix & Streaming Update  /   Investing: Upside of the Downside

Clark Howard Show

00:57 sec | 3 weeks ago

A highlight from 10.31.22 Netflix & Streaming Update / Investing: Upside of the Downside

"My pleasure to welcome you to the Clark Howard show our mission is to serve you and empower you. So you make better financial decisions in your life. Hopefully one of those decisions is to subscribe to our free newsletters. At Clark dot com and Clark deals dot com. You can see details if you go to Clark dot com slash newsletters. And speaking of subscriptions, Netflix is having an awkward adolescence, although they just reported a nice additions to their subscriber numbers after back to back quarters of declines. So they have now launched their ad supported service or announced the launch of their ad supported service. I want to talk about that and what's going on with the morphing of streaming services across the waterfront and how you protect your wallet with the changes

Clark Clark Howard Netflix
A highlight from Kelley Flanagan: From an attorney to influencing, Bachelor fan favorite reveals the power in connections, the impact of family dynamics, and the unknowns of life with Lyme disease

Trading Secrets

04:21 min | 3 weeks ago

A highlight from Kelley Flanagan: From an attorney to influencing, Bachelor fan favorite reveals the power in connections, the impact of family dynamics, and the unknowns of life with Lyme disease

"Gained recognition after being on Peter Weber's season of the bachelor back in 2019, 2020. And although Kelly did not win, Peter's heart on the show, the two of them have reconciled after the show and become one of bachelor nation's favorite couples. Outside of her time on the show, Kelly has developed a very distinguished career as an attorney and has also established a social media following of over 1 million followers between Instagram and TikTok. Today, we're going to discuss her experiences on the bachelor, what her career is an attorney looks like. Life is an influencer. And all the ways that she has been able to capitalize financially on her huge platform. Kelly's plan again, thank you so much for being here. We are excited to have you on Tracy secrets. Thank you. I appreciate you guys having me. I'm not gonna lie, I am exhausted. So I might be I might be a little bit boring, but I'm gonna do my best. What's going on? I mean, last night, we all had dinner. And it was great. Thank you, Evan, Peter. Yeah. We stayed out late. Did you say did you guys go continue your ass? No, we literally went home, you know, I didn't drink all day yesterday. It's not even about that. It's not drink at all. No, not even. I barely do. I barely ever drink. It's just like, not my thing, but I don't know lately I've been exhausted and shot, and I don't know if it's my Lyme disease. And I'm sure we'll get more into that, but it just hits me out of the blue and it's like, I almost can't function because I get so tired. For no reason. See, I like when that, when I feel that, especially because this is like a more of a business type podcast. I want to tap into that because it impacts everything. It impacts how you are professionally, it impacts your work. Yourself with a partner. The worst thing I want is to be around people that I'm not like a 100% comfortable with when I'm in these moods because I get like I get moody. Sure. I get like short and then people are always like, oh my God, why is she being that way? And I was like, you guys just have no idea how I feel. So like when I'm out with my friends and they bring like a newcomer in, I'm like, this is the last thing I want. And it's not necessarily, it's just too much because I can't put on that facade and act great. It takes a lot of energy when you're in this mood. So yeah, I could be a loner at times. Do you think that that is like a, I think that's a thing within this world. The reality television thing creates. I think it creates this thing where you have this extreme paranoia. Like you're always just worried about making impression because you just never know. I don't know, where it's going to go. Someone says anything. And then you feel like you always have to be on, but being on just stranger batteries, like have you felt any of that since you left the show? Yeah, of course. And that comes from the show, but this is even more, I would say, exclusive than that. Even if I'm with my friends and they bring a new friend around, you know what I mean? Having to sit there and have a conversation with them and me being like super, super exhausted the point where I could probably fall asleep right there. I don't want this newcomer to come around or and be like, oh, this is my friend Kelly. You know, I've spoken so highly about her and I'm just a dud. Where are you from? So it's just hard. When it comes to meeting people or fans on the street, it's very easy to put on for two seconds. Hey, how are you? Good. Okay, yeah, let's get a picture, but when it's actually like I have to drag along a conversation and talk to them and not feeling well, that's when that's when that's a lot. Would you I'm just curious now my curiosity is driving me. Would you consider yourself an introvert or an extrovert? It's funny because it just depends on the way I feel like I could be I'm sorry, that's my phone. Yeah, anyone get over there? No. I mean, the reason I say anyone good because Kelly's contact list is outrageous, we will talk about networking access and sanity before we get into that. Are you an introvert? I would say I'm more introverted than extroverted. I definitely like to have fun and socialize and stuff like that. But definitely more introverted. Interesting. Yeah. Because a lot of people wouldn't guess that because when I am out and I do have energy, I would say I can't have high energy. Like hey, how are you? What's going on? But then, yeah. And you even come out and we'll get into your work stuff, but even on the show, I think in an Instagram stuff, you come off as extroverted. You come off as like, I'm gonna say how it is. Fearful of nothing. I'm Kelly the attorney. And you would say that you don't think that

Kelly Peter Weber Peter Instagram Lyme Disease Tracy Evan Paranoia
A highlight from 10.28.22  Clark Answers His Critics on Clark Stinks

Clark Howard Show

05:32 min | Last month

A highlight from 10.28.22 Clark Answers His Critics on Clark Stinks

"His YouTube videos should be required in schools, Clark stinks like a fresh sack of hundreds from the credit union. Wow. Speaking of Clark stinks, we tease this yesterday, you asked for it. So for the first time ever in the history of Clark sinks, which goes back 25 years, I guess? Maybe 20. 20 years, we are devoting the entire episode to Clark stinks. That's right, a double dose opportunity for me to learn from my mistakes. I should have never encouraged you to speak. You must think I'm pretty stupid. You should be ashamed of yourself. Well, maybe I'm wrong, maybe I'm wrong. Maybe you're right, pal. All right, let's hear it, Chris time. All right, let's get into these. We're going to start with this one. I'm all for advocating for people to go to the cashback route on credit cards, but Clark recently stunk it up like a Taco Bell bathroom when he mentioned his $320 city double cash redemption as a statement credit. Clark should know that for city double cash, it's imperative to redeem as a direct deposit because of their rule that you get the other 1% when you pay and getting a statement credit means you don't pay. Clark therefore only got 1% on $320 worth of his purchases Ben and Ben represents so many people who wrote in about this. I had no idea they were tricking me, oh no. See, that's a great question. I'm lost all that money? Forever? I do stink. Oh, never make that mistake again. Oh no. Clark talked about the difficulty of learning the U.S. government site for treasuries. Are you smoking bad weed? Simply use your fidelity or Schwab accounts and the process is easy. I do it every month for our church and periodically for personal to get the best money market, David. And a couple of people wrote about that too. So this I covered on another podcast ironically enough about how and we do this with our company, where we buy the U.S. treasuries, we use Schwab and we buy them through Schwab, it's really easy. It's a lot easier and user friendly through Schwab and fidelity. What you're able to do is you're able to either buy direct issues for the period of time, commission free, or you can go into treasury money funds that they both offer, those are both available to individuals, small businesses you name it. Clark, you stink worse than my house after chilling night. Man, we're getting a lot of those. Seriously, I love what you do. noticed over the past month that your mic makes a lot of noise and it is really annoying. I understand that you want to save a buck, but that noise sounds like nails on a chalkboard. Spend a little money and get a good mic, Jim. Jim, okay. So this is not the mic's fault. This is completely my fault. If you ever watch our YouTube broadcast, you'll see I use my hands like crazy and what you hear is I'll be waving my hands and I'll hit the mic. Like I just did there. So this is as, I don't know, there's a higher quality mic than what we have. We're using their headset. Sportscaster kind of headsets. And I know you want me off a sportscaster headset. I really want me off of it. But the thing is, I mean, the way I am all hit a stationary mic, which I always did over the years, what we need to do is we need to just tie my hands behind my back, but then for some reason I can't think when my hands are tied behind my back. I've also hit my mic so it could have been me too in the past. So stop. It's all me. Jim, I try to be mindful of that, but I still do it. And so just remember when I drive you crazy with the stray mic sound, it's because I think with my hands and talk to my hands. Good information generally for while we are living, but once we die, your advice could have been better. Congratulations on choosing to give to charity after only some to kids. However, how much is a sum, instead of your plan to reward the most needy I have put in place an annual increase of the lifestyle of 25% of each child's reported annual income. My plan is a way to enhance my children's lifestyle instead of giving them enough to buy a lifestyle. They have not earned. This further serves to reward industrious producers. There are more details, but generally I want to encourage my children to continue to be productive members of society instead of living a lifestyle. They didn't earn and can't afford clarence. Clarence, thank you. And this is a hot area in a state planning for wealthier individuals and families that are worried about their kids becoming devoid of ambition is there are all kinds of variable forms of wills that and trust that lawyers now can draw for you if you are worried that a child will lose motivation if you have been really successful financially and you don't want them to behave like a trust fund baby that that's why this is a tool in

Clark Schwab BEN Youtube Taco Bell JIM U.S. Government Chris Fidelity MIC David U.S. Clarence
A highlight from 10.27.22  Car Buying Forecast And An Alternative  /   Back to Basics - HSA vs. FSA

Clark Howard Show

04:14 min | Last month

A highlight from 10.27.22 Car Buying Forecast And An Alternative / Back to Basics - HSA vs. FSA

"This episode, I have new advice on whether it's time to buy a car and also some alternative ideas if you gotta get transportation right now. And later, I'm gonna do a back to basics. As we're in a time of year, people are making these decisions about something that just confuses people know end. H S, what are they, how do you get one and then the other thing that just confounds people, HSA, FSA, all these initials, what's the difference? Huge. One is potentially over time, much more beneficial than the other. So car market. It's been a mess because of the COVID cycle. And now, the market is healing, gradually, steadily, and more and more automakers. In fact, there's something that the auto industry operates on it. It's a theoretical day's supply of inventory. That supposedly the maximum efficient point of having the right number of vehicles to serve the market and max profitability for the manufacturer is to have what is known as a 60 day supply of vehicles, meaning that if they stop manufacturing today, they'd already have a pipeline, what would serve the next 60 days of the market. Well, automakers have been at single digit days supply, which means effectively, if you have driven by deal or lots, you see nothing but use vehicles on their lots and these acres and acres and acres that would usually be filled with new vehicles, empty. But gradually that is healing. In fact, the latest data shows a 30 plus day supply average and the automobile industry, meaning that it's halfway back to what would be considered to be ideal for the manufacturers that dealers have loved what's been going on. Because dealers have done something they have never been able to do in their history, except on a hot new model that's just become available. They are selling above MSRP and so many cases, manufacturers suggested retail price, but now more and more dealers are advertising that they're selling at MSRP, which is funny, because that was not something you used to brag about as a dealer, because normally dealers were discounting from MSRP. So we've been in a very odd cycle that brand by brand is in a healing process. Now, let's say you want a new vehicle right now. I want to repeat something I've said over the last year, and that is, if you want a new vehicle, you widen your search even as far as across the country. Because the price difference can be so substantial from one deal or to another, there is enormous potential benefit for you shopping much wider than you would have in the past. And I've noticed something like you go on auto trader and a lot of times dealers in their listings will only show you MSRP. And you have to contact them for the price, which means they're trying to get above the suggested retail on those vehicles. Other dealers posting an actual price on the vehicle. And so the market is going through and adjusting phase right now. Some brands are still severely constricted on supply one in particular is Toyota.

Toyota
A highlight from Worry-free Retirement Investing

Money For the Rest of Us

04:09 min | Last month

A highlight from Worry-free Retirement Investing

"That made a lot of sense to me. It used what at the time was a relatively new investment vehicle. Treasury inflation protection securities or tips. Tips are U.S. government, inflation index bonds. Bodhi recommended structuring what is known as a bond ladder, using tips, a bond ladder is a series of bonds that mature and the proceeds from that bond maturity is then used to cover the cash flow that the retiree has that year. At the time, the book was issued, the real yield on ten year tips was around 2%. That meant an investor would earn 2% plus the rate of inflation on those bonds. A retiree could buy a series of tips that would mature each year. For the next 20 years, and those bonds would be used to find the investors spending for that year. And since the bond had an interest rate of 2% before inflation, the retiree would benefit from compounding to meet those future expenses. That intuitively makes a lot of sense to me, and it did when I read the book. However, the ability to implement it basically went away. Since 2007, the yield on ten year tips has been less than 2%, except for a period of market dislocation in 2008. When they yield on tips spiked to 4%, believe me, I bought tips, then it was the opportunity of a lifetime to buy tips and then I sold it once rates fell down and I got the capital appreciation. But that foray into tips wasn't an asset liability matching approach. And it's been difficult to match those assets with projected cash flows because the yields on tips have generally been less than 1%. For most of the past decade and there have been extended periods of time when the yield has been negative, which means a tips investment actually didn't keep up with inflation because the real yield or the yield net of inflation was negative. It was costing money on a real basis to hold those tips. Last fall, the ten year tips yield hit an all time low of negative 1.1%. Now there has been an incredible change. Tips are again yielding between 1.7% and 2% depending on the maturity. That's a huge interest rate move from negative 1.1% to positive 1.7% as interest rates go up, the value of bonds plummet and tips aren't excluded from that. Even though they get an adjustment, the principle of the bonds are adjusted based on the rate of inflation, the price of those bonds can still fall when interest rates rise. So even though the inflation adjustment over the past year for tips has been over 8%, there's also been a price decline of 20% for tips over the past year as interest rates have risen and that's why we see the iShares tips ETF lose 12% in the past 12 months. Before we continue, let me pause and share some words from one of this week's sponsors ExpressVPN. You ever get the feeling that someone's watching you, even when there's no one else in the room. Now I know you're probably thinking it's Halloween. You're just being paranoid. But that happens every single day on the Internet if you're not using a VPN. The someone that's watching us is our Internet service provider. And that's why I use ExpressVPN. In the U.S., Internet service providers are legally allowed to sell all of their users browser activity to advertisers. But with ExpressVPN 100% of your traffic is rerouted through their encrypted servers. So no one can see a thing. And my favorite part of ExpressVPN is super simple to use. You just open up the app, tap the big on button, and that's it. ExpressVPN works with all your devices, whether you browse the Internet on your phone, tablet computer, you can

Bodhi U.S. Government Treasury U.S.
A highlight from 10.26.22  Loyalty Programs Give & Take  /  At Last! Affordable Hearing Aids

Clark Howard Show

05:20 min | Last month

A highlight from 10.26.22 Loyalty Programs Give & Take / At Last! Affordable Hearing Aids

"Talk about how he's been driving me crazy in my own life. How many companies are turning their supposed loyalty programs into nothing burgers of devaluation? What they're doing is they're playing us. They're luring us in. They're getting our loyalty, and then those rewards, they're ripping them away from us. So want to tell you how to play the loyalty game, the smart way. And later, so for 5 years, 5 years, I've been lying to you. That's right, I've been lying to you. Because I've been telling you for 5 years, any day now, you're going to be able to buy hearing aids at world prices instead of the cartel prices. We alone in the entire world have had. 5 years later, it's finally true. It's happened. It's real, and it only took 5 additional years because of how dirty Washington money plays. And how the cartel, the U.S. hearing aid cartel, bottled up your ability to buy affordable hearing aids, but they are here now, and I want to talk about that with you. Later in this podcast. Okay, so Chris, I'm going to bring you in now. Because you lived in New England a long time. And there's kind of a joke when you're in New England. That you can stand on a corner in any city in New England. And you can look straight ahead, you'll see a Dunkin Donuts. You can look to your left, you'll see a Dunkin Donuts. You look to your right, you'll see a Dunkin Donuts. You can turn your head around, you'll see another Dunkin Donuts. And when you laugh New England, you came with your Dunkin Donuts habit. Which interestingly enough is about what? Coffee. Right. 'cause Dunkin Donuts originally was about donuts that I'm a southerner. So I just don't get the Dunkin donut kind of donut because it doesn't have enough sugar in it and enough fat, enough gooey stuff on it and all that. I mean, I'm into the really, really unhealthy for you donuts. But it's not the business they've been in for a long time. They're into a more affordable cup than Starbucks or someone like that. So you don't do the Duncan thing anymore. My husband likes Duncan coffee a lot, but I rarely get it. I usually just make my coffee at home now, honestly. And then I do love in americano from Starbucks as a treat. So was your husband in the Dunkin Donuts loyalty program? No. He was never in it? No. She doesn't go enough. Because Dunkin Donuts people were fierce. Fiercely loyal with birthday deals, free something on your birthday and point system that people just loved and Duncan just devalued the program and you would think that they had become Satan with their most oil people. I mean, people have gone crazy online just bashing them. And obviously, when you devalue your program, you need to do it more like the underhanded, ugly way the airlines have done it. And by the way, delta just went through another devaluation of their program what the airlines did was they just eliminated their charts. And the miles are all variable when you try to redeem something. And what it takes to get status of different levels. That's a moving target every year. What Duncan did was honest, they were like, yeah, this program's too generous to our very loyal people. So we're going to be stingy moving forward. Now the program is basically a disloyalty program instead of a loyalty program. This is what's going on with loyalty programs throughout the industry. Hilton, people that are into the Hilton program, if you're not aware, they just did a devaluation that is diabolical. So listen what Hilton did. Do you know this? Your Hilton, right? What level Hilton are you? Just like gold or whatever comes with my credit card. Okay. It's not a Hilton credit card. I have another one that kisses. Right. So there's the Hilton diamond and the golden. So when you get to the front desk, you're eligible for free room upgrades. Do you ever get that? If I ask for it. But if you ask for it, they do give it to you. It depends. 50 50, I would say. Okay, so Hilton now, supposedly you're eligible for free upgrades and if you're diamond status, you get these free upgrades. And it's all about building branding loyalty.

Dunkin Donuts New England Duncan Aids Starbucks Americano Hilton Washington Chris Dunkin U.S. Satan
A highlight from 10.25.22  When Giant Supermarkets Merge  /  Winter Heating Costs

Clark Howard Show

02:48 min | Last month

A highlight from 10.25.22 When Giant Supermarkets Merge / Winter Heating Costs

"Get this done after this week. The rate's going to drop to about 6 and a half percent for the following 6 months, which is still much better than you can earn anywhere else on your savings. Kroger and Albertsons getting married. Virtually every article I've seen in the financial press and the general press has been reported on TV is woe is me. Here we are in the middle of this horrible grocery price inflation. And you let these two large grocery chains get married, nothing but trouble for us. Okay. So not true. So not true. This is a classic case of a merger based on weakness. The reality is traditional supermarkets. That are high lows. Which is how the traditional supermarket industry works, that most items have high markups, and then every week they'll have the sales flyer with a certain number of items on sale to make you feel like it's not as expensive. That these companies, the share of your grocery dollar, keeps going down and down and down and down. Because we have a zillion alternatives. Even after Kroger and albertson's merge, if that is ultimately approved by regulators, they'll still only be the second largest distantly trailing Walmart. Walmart is a classic example that the lowest price day in and day out wins. And Walmart sells by far the most groceries in the United States. They have disrupted the industry, but people think about Walmart and they think that's it. People buy groceries all different places now. And so if you wanted to guess who the third largest supermarket is now in the United States, you'd never guess it's Costco Wholesale. That's right. So you got Walmart number one, Costco number three. Nothing about this merger would change either of those things, but it's not just those two. You've got the fastest growing supermarket in the United States Aldi that now has the third most locations of any supermarket in the U.S. and growing like gangbusters across the country. Their German rival lidl, steadily adding stores along the eastern seaboard. And we buy people buy groceries at Dollar Tree. Dollar General, a

Walmart Kroger Albertsons Albertson United States Costco
A highlight from 10.24.22  U.S. Treasuries- Update / Meet Yale Professor/Behavioral Economist- JAMES CHOI

Clark Howard Show

04:51 min | Last month

A highlight from 10.24.22 U.S. Treasuries- Update / Meet Yale Professor/Behavioral Economist- JAMES CHOI

"I have an interview with professor James Choi from Yale University coming up. Professor Choi is a behavioral economist and he's done some really, really in depth dive. On when you should actually start saving money. His philosophy is really different than mine. I want you to hear what he has to say. Before that, though, I've got a lot of your questions I'm going to answer. I'm going to start by answering as many as I can before I do the interview. And I've got a really short update for you. I've talked recently on several occasions about the advantage with cash you have buying U.S. treasuries. And I've alluded to what a pain in the rear end it is, dealing with treasury direct Doc of to set up accounts to buy treasuries, treasuries, the way I've described them, their CDs for rich people. But you don't have to be rich. It's just a more complicated process to buy them. People have been to put it mildly frustrated slash intimidated by the process of buying U.S. treasuries at treasury direct dot gov. And it treasury direct dot gov, you can buy ultra short term treasuries that are like ultra short CDs, you don't have a lot of money to buy them. They're just a little complicated. And there are a bunch of different issues of them starting at basically the equivalent of one month CDs and running from there. Well, I heard enough feedback that this is a bridge too far for most people to think about buying these treasuries and the ideas it's a great way for you to stash money for a month to a year. To buy these as kind of like a savings instrument. You can buy treasuries for up to 30 years, but the idea where I'd been talking about is buying them for a month to a year, one month, two months, a year. And you only need a hundred bucks, but you had all the complexity of buying them. So I was thinking, what's a better way? So if you are the easiest way, if you're with one of the discount brokers. The two big Schwab and fidelity, but they're not the only two out there. You can buy from them their own US Treasury money market fund. So there's no risk that the value of your holding will decline because there are fixed share prices of a dollar. And for every share you buy, and those have been paying rates in the twos. So maybe not as high as what you can do at treasury direct dot gov, depending on the auctions that come up regularly. But you're still able to park your cash earning, depending on where you go to put it. It's about 2.3 to 2.8% on money in a US Treasury money market fund, which is just about the safest place you could ever put money because it's a direct obligation of the federal government. And these require usually very little money to go in, your money is available to you on typically one day's notice. You can add to it or subtract to it as you wish. And this is an alternative for you to be able to stash cash and earn even more than what typically you can earn in one of the online banks. By the way, they're typically mostly exempt from state if you live in a state where the state income tax state that even has a local income tax, you avoid those, you only pay federal tax on your earnings. So Christa, I hope that that gives people an easier path to benefit from the rising rates of U.S. treasuries. We'll start with Wendy in Ohio's question. I'm starting a new business and would like to add a second phone number for business calls to my existing Android cell phone. Apparently by signing up for and downloading an app, and reading reviews, there don't seem to be any clear winners in order to accomplish a good business call choice. Do you have any recommendations, please? Works hand in

Professor James Choi Professor Choi Us Treasury Treasury Yale University U.S. Schwab Fidelity Federal Government Christa Wendy Ohio
A highlight from $1,700/week on Broadway? Broadway Star of Hamilton, Miguel Cervantes on the ever changing world of Broadway, using your platform for good, and not throwing away your shot

Trading Secrets

04:38 min | Last month

A highlight from $1,700/week on Broadway? Broadway Star of Hamilton, Miguel Cervantes on the ever changing world of Broadway, using your platform for good, and not throwing away your shot

"Welcome back to another episode of trading secrets. Today I am joined by actor singer activist and Broadway superstar. Miguel cervantes. Many of you know Miguel best for his lead role of Alexander Hamilton, my favorite show in the Chicago production of Hamilton, which ran from 2016 to January 2020. And then he took on the role of Alexander Hamilton at Richards Rogers theater in New York, New York, Miguel quickly became one of the more well-known Broadway stars after the rise of Hamilton took the country by storm and still does today. Today we're going to discuss the life of a Broadway performer. What is perspectives of the Hamilton craze was and is and how he dedicated a big part of his life to advocacy of something a little closer to home. Miguel, thank you so much for being here. We are so excited to have you. Thanks for the time. This is great to be here. Thanks for the invite to be here. And everyone back home, they know I am a huge, huge handful to guy. This is what I hear. This is what we just saw you and U.S. open. It was about a month ago. We were singing along and fun fact about Hamilton. I actually work out to the soundtrack. It fires me up. Listen, I am a fan, like everybody else. I know I say it. I've fun fact. If you're ever in a bar or something, everyone asks you, hey, do you buy any chance to know what human being on the planet has played Hamilton more than any other human being? Now you know, I think it's around 2018 hundred performances now over the course of 7 years. I was a year and a half break there, but I'm still a fan. the beats in the grooves and stuff and I understand why people love it so much even though it is in my bones now as sort of I don't listen to it at home anymore. It is I do understand what the desire and what that sort of drive is to be part of it. That's so cool. And I have a million questions for you. But before I get, I gotta ask you off the cuff. After 2000 performances, does it get like, do you get kind of sick of the same songs? I mean, look, there's no world in which it's not a job. I go to work, like everybody else, and sometimes I'm in a bad mood and life happens outside of the theater, but what you just said is kind of what drives me to go to those places. I go to the place every single night because I know that there are people that just are obsessed with the show that it means something to them for whatever reason, whether it's about their own life or their own sort of ideas of social, political, all of these things that the Hamilton embodies and messages that it tries to sort of put out into the world. And I know it's important to people. I know that it is, so I never want anyone to be like, oh, he looked like he was a little sort of phoned it in today, or he looked a little bit, you know, it's still a great show, but I never wanted to feel that way for myself or for anyone in the audience. So then starts out and I go, right? And it's easier for me because I'm on stage for all but about 12 of the minutes of the show. So there's not a whole lot of time for me to be like, oh, I can't believe I had to do this. But there are days like anybody else, but I take the privilege. And it is. It's a privilege for me to be up there. There's lots of people that are talented in the world, and I happen to be the guy that gets to do it right now. And so I'm honored and humbled by that and I want to sort of give it the justice that people want. So I think it's kind of a cheesy answer. But it's true. That's genuine. And I want people to come out of there, getting the Hamilton experience. That they want. Absolutely. It's an unbelievable profession, the story has such impact. But I want to talk about maybe some of the lulls before the highs. And a tough moment for Broadway and I can imagine you, but let's go to timeline, right? What I saw was March 3rd, 2020. You take on the role. Is Alexander Hamilton in New York, New York. Yeah, it's like the Super Bowl. That's the dream job you get it. It was what 9 days later, all a Broadway shuts down, September 14th, 2021, Broadway reopens. That's 551 days. 8 days after you were given the lead of Hamilton, Broadway is shut down. How challenging was that for you and even your family? It feels such a blur. Now I remember that day sitting in the hair chair, getting my microphone put in my hair, and I said, something feels funny, something feels weird. I'm watching the news and then that intermission that day, there was an NBA game or something that got canceled. You saw jazzy lands in the middle of the game and they shut it down. They pulled it. Yeah. I was like, what just happened? Yeah. And we had to go the second act, and then right after quiet uptown, Aaron Burr, Daniel, who was playing Aaron both the time, walked out, and we're all, I came off, you know, we're crying, and I'm like, wait, I'm telling you, you know, coming off stage, and everyone's looking at this phone.

Hamilton Miguel Alexander Hamilton Miguel Cervantes Richards Rogers Theater New York Chicago U.S. Super Bowl NBA Aaron Burr Daniel Aaron
A highlight from 10.21.22  Clark Answers His Critics on Clark Stinks  /   CLARKONOMICS: The 60/40 Rule

Clark Howard Show

04:55 min | Last month

A highlight from 10.21.22 Clark Answers His Critics on Clark Stinks / CLARKONOMICS: The 60/40 Rule

"Time that Christa gets to read your Clark stinks pose. I'm looking forward to them. You know, I love this. I know. Yeah. And on a more serious note, I have a Clark economic segment coming up talking about 60 40. If you're not familiar with 60 40, it's one of the most basic rules of investing for a lot of people and it hadn't worked out at all lately and I want to talk about where that fits in your future, I know that when people get burned, once burned twice shy as I think expression, I remember once bitten twice shy from a poison song. Something like that. Okay, so we're going to talk about that later, but without further ado, it is time for Clark stinks. I should have never encouraged you to speak. You know how much think I'm pretty stupid. You should be ashamed of yourself. Well, maybe I'm wrong. Maybe I'm wrong. Maybe you're right, pal. What you got, Christa. Carl and Arizona says you said that Clark stinks is one of your favorite parts of the show. He just said it again. And in that case, why not dedicate the entire Friday show to Clark stinks? I'm sure there's a lot of people writing in for it. We could learn so much more from each other if you did. Please, please, please consider doing this in the future. Well, we are going to experiment with it and it popular demand as popular demand has. And we will do a double Clark stinks episode next week. Next week, we'll do it. Next week, we'll do it. And because there's plenty, we've got a backlog of Clark stinks. And so we'll devote one whole podcast to just straight Clark stakes. Great. And it would be a great way to start your weekend, right? I have learned so much. Let's start the learning. I disagree with Clark on Kroger or at least in my area, I compare prices from Kroger versus Walmart, and most of the time Kroger is less. I do the coupons and clip deals plus any of the sale items, but frequently the pricing of products would be less than Walmart, which is always a surprise. Walmart has seemingly gone up with the pandemic concerns. I do a lot of comparing as I live on a fixed budget and need every bit of discounting that I can reasonably use. We have Sam's Club with bulk products way too much for me to use. Public is out of sight in its product pricing, although very nice employees, Aldi is new here, and I have not ventured there, but it's also a little distance to drive. And that's from Libby. Libby, thank you. All right, so Kroger is I explain why I talked about Kroger's a high low retailer. And if you get embedded in the Kroger system and Kroger, again, uses different brand names all across America. You get embedded in their system. You've got their membership. You got the croaker plus. You got heavy involvement in Kroger and you follow their deals. You get one specifically geared towards you and your disciplined about it. You'll do fine with your grocery dollar Kroger. But you have to be that kind of driven for a bargain person because the whole idea of a high and low retailer is to get you in with the advertised specials and then you fill out your basket or if you live in a part of the country where it's called a buggy, someone in public's country would call it a buggy. And you're filling that basket with things that are not promotionally priced, that's what a high low retailer is about. Walmart generally is considered to be roughly 20% cheaper for an overall grocery basket than a traditional supermarket like Kroger, but if you're really using the Kroger affinity programs to your max advantage, you're going to be able to remove much or all of that price advantage that Walmart has. As for checking out Aldi, Aldi is not for everybody. It's for me because it's roughly 40% cheaper than traditional grocery shopping, but you're getting their brands, you're buying in their system and it is very, very different. In response to a question about a poster moving his spouses accounts to a local credit union, you mentioned a quarter $1 million, which is correct if it's an individual account with no beneficiaries. On the other hand, if it's a joint account, it is insured up to a half a $1 million. One should always use NCO a dot gov website to verify the credit union is actually and CUA ensured. Another nice tool is the share insurance estimator, a my credit union dot gov website.

Clark Kroger Christa Walmart Sam's Club Aldi Libby Carl Arizona America