Anything could have happened in 2024. The uncertainties were immense:
The results – to date – in several of these categories have been positive or on-the-way-to-becoming-positive.
A handful of today’s readers may be super-advanced Crypto intelligentsia, but for the majority this is not the case. For those striving to understand digital currency, cryptocurrency, blockchain, spending cryptocurrency… and the differences in the meaning of these terms, you have reached the “next level in the crypto journey”.
Although, the present of crypto and blockchain is far ahead of simply understanding these terms. In the interest of advancing knowledge closer to the present, let’s look at a couple of these concepts and the greater crypto and blockchain environment.
At most basic, digital currency refers to any currency that exists online, whereas cryptocurrency refers to currency held as a record on a blockchain database. The distinction is important because it can have significant tax implications.*
Today’s edition could be a risky one to write, as anything related to the recent US Presidential election can stir up division. BUT – there are a healthy handful of issues that unite all Americans. These issues, ironically, are similar to those facing the 2016 version of President-Elect Trump.
Below are excerpts (in italics) from a November 2016 edition of TGIF 2 Minutes with thoughts on updates for 2024 (in bold) –
Continue reading “Top of Mind Issues in US Presidential Transition”
This edition of TGIF 2 Minutes will make a brief attempt at summarizing Bitcoin’s recent meteoric rise to around $95,000. There is still a huge segment of the population who might ask, “$95,000 for what?”. At the same time, Bitcoin has increasingly become an accepted form of currency, although in limited and illiquid ways.
One of the more obvious and possibly over-done in the short-term reasons for Bitcoin’s price rise has been the run-up to and aftermath of the recent US presidential election. Investors seem to expect in the near future a more friendly regulatory environment for cryptocurrencies overall.
If you clicked on and are reading this edition of TGIF 2 Minutes, give yourself credit for being smart! Awareness of the following is of paramount importance.
Fraudsters are targeting high-net-worth people and non-profit organization accounts.
A “fraud trend” (yes, there is such a thing) currently taking place is with bad actors using social engineering tactics to collect personal information and then using that information to open new credit card, investment, and bank accounts in a person or organization’s name. The fraudster then attempts to use these new, false accounts to take over high net worth people’s existing accounts and withdraw those accounts’ funds.
It’s time for “The Greatest Chart Ever”, updated for 2024.
Please make sure the chart above shows on your screen! If not, please ask me to email you a copy.
Long-time TGIF 2 Minutes readers know this particular chart truly is a great chart* with data illustrating reasons to invest in stocks – and stay invested – for the short-, intermediate- and especially long-term. The information focuses on US stocks, namely the S&P 500, and lends to globally diversified stock investing, as well.
“The Greatest Chart Ever” offers needed perspective in times of volatility and uncertainty. Over a period of more than 40 years of intra-year stock market performance, the chart illustrates valid reasons NOT to allow short-term market moves (monthly, quarterly – or even yearly) to lead to poor investment decisions. Why? Please read on.
There are a bunch – almost too many to count – of important details that a valued financial adviser can obsess over, so clients do not have to. One of those details is the 2022 SECURE Act 2.0 which continues to unfold, in two short months starting on January 1, 2025.
A number of the changes affect rules around two items:
Changes to both will also have present and future tax consequences.
This week in a conversation with one of my favorite people, I discovered – or confirmed – something that was already obvious: the US Presidential election has nearly everyone on edge. There are varying degrees of “on edge” including,
Let’s start by saying that it is nearly impossible to rein in the amount of money your kids spend. The caveat is that the impossible can become possible IF a few “standards” can be set – the earlier in life the better.
What are “standards”? These are concepts that can be discussed with kids of all ages – or dictated, with discussed definitely preferable! The concepts can be educational for the immediate time frame, while perhaps also becoming life lessons.
Case in point: three years ago, a young person asked for my advice upon graduating from college at age 22. This person, now 25 years-old, made my entire year last week when she told me that (over three years) she has accumulated $54,200. The kicker is that this awesome young person lives in one of the more expensive cities in the USA, which means income taxes are being paid at Federal, State and City levels.
Decluttering can be a sensitive subject. But mostly, decluttering is a positive game changer – financially and in real life.
The reason decluttering in “real life” can be sensitive may be obvious to married couples who, together, have gone through their garage lately (grown men can cry over getting rid of old ski gear from the 1990s – story from a friend).
Barriers to decluttering include:
These factors prevent decluttering from happening.
