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[ad_1] Tata Consultancy Services (TCS) on Friday said its board will consider a buyback proposal on January 12. However, it did not disclose any other details of the proposal. The company’s board is scheduled to meet on January 12 to approve and take on record the financial results for the October-December quarter. TCS will also consider declaration of third interim dividend to the equity shareholders during the board meeting. The last buyback of the company, worth Rs 16,000 crore, had opened on December 18, 2020, and closed on January 1, 2021. In 2017 and 2018 too, TCS had done a similar share buyback, making this one the fourth buyback by the company. Other IT companies such as Infosys and Wipro have also undertaken share buyback to return surplus cash on their books to shareholders. In September last year, Infosys had said it has bought back over 5.58 crore equity shares as part of its about Rs 9,200-crore buyback offer. The process — conducted via open market through Indian stock exchanges — saw shares being bought back in the range of Rs 1,538.10 and Rs 1,750. Wipro had also completed a Rs 9,500-crore buyback in January last year. “TCS has been doing a combination of buyback and issuance of dividend every year for the last few years to return capital to shareholders,” Mukul Garg, sector analyst at Motilal Oswal, said. As per Sebi regulations, the maximum limit for a buyback should be 25% or less of the aggregate of paid-up capital and free reserves of the company. On a consolidated basis, TCS had cash and equivalents of Rs 48,840 crore as of September 2021, and shareholders’ funds of Rs 99,077 crore, Bloomberg data showed. TCS shares closed 1.26% higher at Rs 3,854.85 a share on the BSE on Friday. [ad_2] Source link

[ad_1] Today, the Bureau of Labor Statistics reported that 199,000 jobs were created in December — a miss from estimates. They also reported we had 141,000 in positive revisions to the previous jobs report. The unemployment rate is currently at 3.9% and we had another big print from the household survey which showed 651,000 jobs gained. For men and women age 20 and over, the unemployment rate is currently at 3.6%. Unlike the previous expansion, where the jobs recovery was slow, we have a much different dynamic this time around. Job openings are still over 10 million and I am still smiling here as I was the one person on Twitter finance that had been tweeting out #JOLTS 10,000,000 well before the job opening data took off. I have always believed that no country has a Dorian Gray labor market. People forget that job openings were above 7 million in the previous expansion before COVID-19 hit us. Nature, aging, and deaths are powerful economic forces, and robots never took all the jobs. Jobless claims data recently hit levels last seen in 1969. With that said, the household survey jobs data is much stronger, showing an average three-month gain of 723,000 versus the BLS data running at 365,000. We do have enough labor to get back to pre-COVID-19 levels and I do expect over time to see significant positive revisions to jobs data this year. I have been counting the months to see if my forecast would be correct. With nine months left until the end of September 2022 (the milestone in my forecast), let’s see how much progress we need: Feb 2020: 152,553,000 jobs Today: 148,951,000 jobs That leaves 3,602,000  jobs left to gain in the next 9 months, which is 400,222 jobs per month. With a 3.9% unemployment rate! Here is a look at the job gains and losses reported today. Construction jobs came in positive but we still have a fairly high level of construction job openings currently. The lack of construction productivity over the decades has been one reason why I have never believed in a housing construction boom in America. The other reason is that the builders don’t ever oversupply a housing market, so when demand fades, so will construction. The builders have been complaining about labor for many years. However, the builders confidence index has picked up because they believe they can sell their product and make money since they have pricing power. This also means housing starts are rising. Don’t make it more complicated than it needs to be.  Remember that when looking at jobs data, it’s always about prime-age employment data for ages 25-54. The employment-to-population percentage for the prime-age labor force is 1.5% away from being back to February 2020 levels. The jobs recovery in this new expansion has been much better than we saw during the recovery phase after the great financial crisis. Education and employment Most people who want to work in our country are employed on a regular basis. I know that some people blame COVID-19 for not going back to work, but context is key: the majority of the country’s population is working today. The part of the labor force with the least educational attainment tends to have a higher unemployment rate. On Twitter, I started the hashtag A Tighter Labor Market Is A Good Thing to remind everyone that the economy runs hot when we have a tighter labor market.  We want to see the kind of unemployment rates that college-educated people have spread to everyone, because we have tons of jobs that don’t need a college education. The unemployment rate for those that never finished high school has been falling sharply lately, which means the labor market is getting tighter and tighter every month. You want to have this problem rather than the other way around. Here is a breakdown of the unemployment rate and educational attainment for those 25 years and older: —Less than a high school diploma: 5.2%.—High school graduate and no college: 4.6%.—Some college or associate degree: 3.6.—Bachelor’s degree and higher: 2.1%. As you can see above, life is great for those looking for a job. For companies that need labor, it’s not the best news, but again, it’s first-world American problems — the economy is hot! As I have stressed from April 7, 2020, the U.S. recovery was going too fast, which would shock many people because they had no faith in their economic models. With near record-low unemployment and massive job openings, you would assume mortgage rates should be skyrocketing, but they’re not. The 10-year yield and mortgage rates My 2022 forecast said: For 2022, my range for the 10-year yield is 0.62%-1.94%, similar to 2021. Accordingly, my upper end range in mortgage rates is 3.375%-3.625% and the lower end range is 2.375%-2.50%. This is very similar to what I have done in the past, paying my respects to the downtrend in bond yields since 1981. We had a few times in the previous cycle where the 10-year yield was below 1.60% and above 3%. Regarding 4% plus mortgage rates, I can make a case for higher yields, but this would require the world economies functioning all together in a world with no pandemic. For this scenario, Japan and Germany yields need to rise, which would push our 10-year yield toward 2.42% and get mortgage rates over 4%. Current conditions don’t support this. Yes, it does seem strange, we have the hottest economy in decades and inflation is hot but the 10-year yield as I write this is at 1.75%. Don’t forget the trend is your friend on bond yields and mortgage rates for decades. We had a major fall in headline inflation that didn’t take bond yields lower in the same way in 2009-2010 and now you’re seeing the reverse with a short-term spike in the inflation rate of growth with yields not rising either. Even though we haven’t tested 1.94% yet, we are getting to an exciting area where we might be able to see the first real

[ad_1] “You had me at low fees!” That was our reaction to the arrival of robo-advisors in Canada, beginning in 2014. Faced with few alternatives to mutual funds and self-directed brokerage accounts, young and middle-income investors embraced the option of having their savings passively managed in a bundle of exchange-traded funds (ETFs) matched to their goals and risk tolerance for about a penny on the dollar per year: A perfect set-it-and-forget it solution for people with better things to do. It would seem all robo-advisors are the best, right? Fast forward to today and the honeymoon atmosphere has dissipated. Against the backdrop of an extraordinarily long-lived bull market in stocks, active management has made a comeback (not least in the ETF space), exotic asset classes like cryptocurrency are on the rise, and new competition is coming from asset-allocation ETFs that do the job of portfolio management all in one security. Suddenly robo-advisors find themselves having to prove their worth anew, all the while trying to establish a profitable business model in a low-margin corner of the investment universe. It’s surprising, really, because amid all the competition their fee structures and value proposition are as good as or better than ever.  Depending how you define the term, the first stabs at robo-advisors were created in the United States between 2006 and 2008, and decidedly with the launch of Betterment in 2010. The pioneers in Canada were NestWealth.com and Wealthsimple in 2014.  But it nonetheless behooves investors to probe deeper in their choice of robo-advisor, asking tough questions around performance, risk and the composition of portfolios. As our 2022 survey of the Canadian robo industry shows, they’re not all the same. Great info on robo-advisors: Is there any risk in using a robo-advisor? How good are robo-advisors? Should you use a robo-advisor? How to use a robo-advisor What is a robo-advisor? Who uses robo-advisors? Robo-advisors vs human advisors Watch: Should I use a robo-advisor? A quick look at the best robo-advisors in Canada for 2022 For full descriptions of each of the best robo-advisors in Canada, scroll down. ROBO-ADVISOR FEES (%) MINIMUM ACCOUNT SIZE ($) BALANCED PORTFOLIO RETURN (1-YR) (%) 3-YR (%) 5-YR (%) NOTES BMO Smartfolio 0.4-0.7% $1000 9.09 7.11 6.18 Returns to 30/09/21 CI Direct 0.35-0.6% none 11.14 9.47 8.62 Returns are for standard ETF portfolio iA WealthAssist 0.7% (incl. MER) none na na na Justwealth 0.4-0.50%; $4.99/mo. for accounts <$12,000 $5,000 14.89 11.17 8.75 Nest Wealth $5-$150/mo. none 14.16 8.54 7.43 Returns to 30/09/21 Questwealth 0.2 – 0.25% $1,000 11.19 8.47 6.76 RBC InvestEase 0.5% none 8.57 9.47 na Balanced portfolio is 55% equities/45% fixed income Smart Money Invest 0.8% $5,000 9.49 7.72 7.73 VirtualWealth 0.35-0.6% none 8.1 9.4 7.2* *since inception 02/17; balanced portfolio is 50/50 equity/fixed income Wealthsimple 0.4-0.5% none 6.6 6.9 5.9 Standard portfolio The best robo-advisors for 2022 Best robo-advisor for a passive and active combo  BMO SmartFolio While investors can take a set-it-and-forget-it approach, if something does go awry in the markets, a real, live professional will adjust a fund’s asset mix accordingly. SmartFolio also has a team of advisors that can answer more basic client questions through live chat, e-mail or phone. Overview: BMO is one of a handful of banks with a robo option and it is also a big player in the ETF space, making for an integrated offering. While SmartFolio makes use of passive, index ETFs, it also employs real-life fund managers from BMO Global Asset Management, its massive investing arm, to design its portfolios.  Investment approach: Once you’ve answered a few risk-tolerance questions, the company will match you with one of its five model portfolios, which vary widely when it comes to asset mix. The BMO capital preservation portfolio, for instance, has a 10% allocation to equities and a 90% allocation to fixed income. At the other extreme, its Equity Growth option is weighted 90% stocks and 10% bonds. The rest fall somewhere in between.  Each portfolio contains a basket of BMO ETFs. It’s easy to change your asset mix. Just let them know when a life event happens, such as a marriage, a significant job change, or the arrival of kids, as that will require a shift in investing approach.  Best robo-advisor for sophisticated offerings CI Direct Investing Investors who want (or could want as their nest egg grows) greater portfolio diversification, with exposure to underlying asset classes beyond stocks and bonds will appreciate this robo service. It is a more sophisticated offering at a still competitive robo price. Overview: Think of CI Direct Investing (formerly WealthBar, founded in 2015) as passive investing, plus. Yes, you can set up a low-cost ETF portfolio with the company. But if you’re not convinced that indexed stock and bond funds can meet the challenges investment markets face going forward, you can opt for what it calls Private Investment Portfolios, which include other asset classes too. And in 2021 CI Direct added so-called Impact Portfolios that factor in environmental, social and governance (ESG) criteria in their investment selection. Investment approach: The company now offers three types of portfolios. The first is similar to what you’d find with other robos: five portfolios that range from conservative to aggressive, and feature ETFs from Horizons, Vanguard, iShares, BMO and CI First Asset. The second, Private Investment group, includes three portfolios made up of Nicola Wealth mutual funds; these are invested in both mainstream and more rarified asset classes including alternative strategies, private equity and mortgages. (As you might expect, these come with higher fees.) And the last is a series of three ETF Impact Portfolios for socially and environmentally responsible investors invested in a combination of ETFs and mutual funds. While there is no minimum account size, CI Direct will not invest the funds until the account reaches $1,000. Best robo-advisor for having no fee surprises  iA WealthAssist If you want to know what to expect in your fee statements, this may work for your investments. Overview: Formerly known as Invisor, this robo is now

[ad_1] The post Spendee Review for 2022 appeared first on Millennial Money. When it comes to saving money, Millennials are doing a pretty decent job. And they’re using budgeting apps like Spendee to diligently track their spending, savings, and investment progress. Check out our Spendee review for all the details on this budgeting app. According to Bank of America, nearly one in four millennials have at least $100,000 socked away. And almost three-quarters are saving for life milestones and future goals.  But at the same time, the study found that 51% of millennials feel behind in their overall financial situation. If that sounds like you, you may be considering giving Spendee a try. In our Spendee review, you’ll learn all about how the app works, how much it costs, and much more to determine whether the service is right for you.  Spendee Overall Rating 9 Bottom Line Spendee is a money management and expense tracker app for Android and iOS. Pros Free version available Automatic and manual spending categorization Shared wallets for dual budgeting Smart budgeting prevents overspending Supports multiple currencies Cons The software can be buggy on Android You have to pay to access the top features No credit monitoring No bill pay feature Doesn’t sync with all banks Budgeting Tool 9.0 Security 9.5 Customer Support 8.5 Alerts and Reminders 9.0 or, skip straight to the section on how to sign up for Spendee. What’s the Spendee App? Spendee is a money management and expense tracker app for Android and iOS.  The mobile app, which launched in 2013, is made by a development team headquartered out of Prague. To be clear, Spendee isn’t a bank. You can’t use it to store or transfer money, make payments, or invest. It’s purely a personal finance tool you can use to manage your money.  Spendee originally started as a side project for co-founders David Neveceral and Jakub Sechter while they were working at Cleevio, a software development agency. Spendee now operates independently, with Neveceral as CEO and Sechter as CSO.  The company’s still relatively small, with about half a million dollars in funding to date.  Spendee Features Here are the important Spendee features to be aware of. Bank account syncing  Spendee connects to more than 2,500 global financial institutions, including Bank of America, ING, HSBC, and Deutsche Bank. The app works with bank accounts, e-wallets, and crypto-wallets.  If you have several accounts, Spendee comes in handy by acting as a central dashboard for your finances. It also helps you observe spending habits across your accounts.  Unfortunately, you’ll have to pony up for the paid versions to access bank account syncing (more on that later). Smart budgets  One of the hardest things about budgeting is sticking to a daily spending plan.  With Spendee, you can avoid overspending with the smart budgets feature.  Using automated alerts, smart budgets lets you know whether you’re getting close to exceeding spending limits for different categories — like food, entertainment, or travel. The benefit here is that Spendee saves you a few extra steps. For example, instead of having to log into numerous credit card and bank accounts to tally up your monthly restaurant spending, Spendee automatically notifies you when you’re approaching your preset limit. Shared wallets When living with someone and sharing financial responsibilities, communication is important.  Spendee makes it easy to communicate with the people you budget with using shared wallets. Spendee tracks mutual expenses, giving you insights into who pays for items and when.  It’s pretty easy to set up this feature. Just select the wallet you want to share, open it, and click “share wallet with other people.” Next, type in that person’s email address and have them accept the invite. Voila, you can track expenses together.  While two people can share a wallet, only one person can “own” it and have operational control. This could be a good feature for couples or parents and their children.  Multiple currencies  Do you frequently travel internationally or live abroad? Then you know how tricky it can be to stay on top of your exact spending amounts due to fluctuating exchange rates.  Spendee helps in this area by tracking finances in multiple currencies.   To adjust the primary currency in your account, simply go to the app settings and select which currency you want to track. The app automatically recalculates your transactions according to the current exchange rate. Alerts and reminders  As a busy person with a lot on your plate, it’s pretty easy to forget to pay a cable, electricity, or credit card bill. We’ve all been there before. Spendee helps you avoid this by reminding you beforehand when due dates are approaching.   Spendee Pricing Spendee has three different account tiers: Basic, Plus, and Premium.   Here’s a breakdown of the fees and features that you’ll get with each account level.  Spendee Basic  Cost: Free Bank accounts sync: No Automatic categorization: No Backup and sync: Yes Number of cash wallets: 1 Number of budgets: 1 Shared wallets: No Import/export transactions: Yes Spendee Plus   Cost: $1.99/month or $14.99/year Bank accounts sync: No Automatic categorization: No Backup and sync: Yes Number of cash wallets: Unlimited  Number of budgets: Unlimited Shared wallets: Yes  Import/export transactions: Yes Spendee Premium  Cost: $2.99/ month or $22.99/ year Bank accounts sync: Yes Automatic categorization: Yes  Backup and sync: Yes Number of cash wallets: Unlimited  Number of budgets: Unlimited  Shared wallets with others: Yes  Import/export transactions: Yes As you can see, you won’t be able to link your bank accounts unless you upgrade to Premium.  With that in mind, if you want maximum visibility to your finances on the go, it might make sense to spring for the Premium account. At $2.99 monthly or $22.99 for the year, it’s not a ton of money.  Premium also comes with automatic categorization, saving you additional time. Signing Up and Starting Out Signing up for Spendee takes just a few minutes. You can take care of the process either within the app or on the website. Here’s how to

[ad_1] Looking for really honest Rocksbox reviews? If so, check out my updated thoughts after using this service for several years! Also, be sure to scroll to the bottom for a Rocksbox promo code that gives you a FREE box to try! {Psst! You can find all of my honest product reviews here, including my Stitch Fix review, IPSY review, Happily Date Night in a Box review, and more!} A number of years ago, I had the opportunity to try out Rocksbox — a jewelry rental membership service dedicated to making your life easier and more stylish. I wasn’t sure what I’d think of this service at first and it seemed a little quirky (renting jewelry?? Who does that?!) and expensive to me (I’m all about buying jewelry for $3 off the clearance rack at Kohl’s!). But I gave it a go so that I could give all of you a really truthful look at my experience with this service. It has now been over 5 years since my very first experience with Rocksbox, and I’ve used it many times over the years. They have also made a lot of updates over the years, so I figured it was time for an updated honest Rocksbox review! How Does Rocksbox Work? 1. Sign up for a Rocksbox account. (If you use my Rocksbox promo code moneysavingmomxoxo at checkout, you’ll get your first month entirely FREE!) 2. Answer a few questions about your likes and dislikes. For instance, I said that I mostly wear silver jewelry and don’t want them to send me rings (because I only wear two ever — my wedding ring and a 10-year anniversary ring). 3. Add pieces to your Wish List. This is a way for your stylist to get a better idea of your likes and dislikes. They recommend that you add at least 15 pieces to your Wish List. Your stylist will do their best to choose at least one piece from your Wish List to include in your box. Rocksbox sets are curated for you based on your Style Profile and your Wish List. 4. They then curate a box for you and let you know. You’ll have 24 hours to get a sneak peek of what they’ve chosen for you and choose to swap any items out that you don’t like and switch to something you like better (I love this feature!) 5. Within a week or so, you’ll receive a box of jewelry. Your box will contain three different pieces of jewelry. You can keep this box of jewelry for as long as you like. 6. You can keep and wear your Rocksbox pieces for as long as you like. You can return your box anytime, as often as you like, and they’ll send out a new set right away. You pay the same monthly membership fee ($21/month) regardless of how often you exchange your box. 7. When you’re ready for a new box of jewelry, just ship the current box back. Within another week or so, you’ll receive another email with a sneak peek of what is coming in your box and you can choose to swap things out, if you’d like. (Note: Be sure to ship all the pieces back. If you keep a piece, you will be billed for it as that signifies to them that you wanted to purchase it.) 8. You can purchase any of the jewelry you receive at a discounted price. Every month, you can choose to apply your $21 membership fee as a credit towards the purchase of one jewelry piece. (This credit does not roll over each month.) Tips For Making the Most of Rocksbox Be sure to add jewelry to your Wish List. I added 15 pieces of jewelry to my Wish List before I got my first box. My stylist chose the bracelet I had picked out and created a set of jewelry around that. Once I saw what was in my first box and fell in love with the Kendra Scott earrings, I added quite a few more Kendra Scott items to my Wish List for future boxes. Be sure to keep the original box that your jewelry comes in. I’ve found that putting the jewelry straight back into the cute little box when I’m not wearing it is the safest way to make sure it doesn’t get lost or broken.* Be sure to leave feedback for your stylist. Just like Stitch Fix, stylists depend upon your feedback to make your future boxes as tailored to your style as possible. Once you receive your box of jewelry and wear the jewelry, be sure to log onto Rocksbox and share your feedback on the pieces you were sent so your stylist can get to know what you like and dislike. *Note: In case you’re wondering what happens if you damage a piece of jewelry, here’s what their site says: Your membership includes a small insurance fee, which covers normal wear for all products. If there is slight damage or wear (e.g. lost earring back, a stone falls out, etc.) this is fully covered. However, we will evaluate the damage when it is returned to the warehouse, as excessive damage is not covered. If you have any damage or loss issues, don’t worry, but please email us immediately at members@rocksbox.com. My Honest Rocksbox Review Pros: First up in my completely honest review of Rocksbox is all of the positives! You can get the first month FREE! Get an absolutely FREE month when you sign up and use my Rocksbox promo code moneysavingmomxoxo at checkout. Just please put a reminder on your calendar to cancel the subscription before the 4 weeks is up in case you decide it’s not for you. I’d hate for you to get charged for something when you expected it to be free! Shipping and returns are always free! I love that shipping is included in the $21 membership price, and you don’t have to pay return shipping either! It’s quality jewelry. Over the past couple years, Rocksbox has

[ad_1] Three Georgia men sentenced to life in prison for 'chilling' Arbery murder [ad_2] Source link

[ad_1] Sowing of rabi (winter) crops — mostly consisting of wheat, pulses, oilseeds and coarse cereals — has been marginally higher than 2021 level, according to data released by the ministry of agriculture on Friday. The rabi sowing will be completed in a week. The total area under all the rabi crops rose to 652 lakh hectare (lh) in 2021-22 season so far compared to 646 lh reported in the corresponding period of 2020-21 season. Despite the increase in acreage this year, sowing of wheat and pulses, the key rabi crops, have been reported to be marginally lower. Wheat has been sown in 334 lh as on Friday, compared with 340 lh in the year-ago period. The marginal drop in sowing of wheat is attributed to the delay in withdrawal of southwest monsoon rain last year. There was less area under wheat crop in Uttar Pradesh, Haryana and Madhya Pradesh. Sowing of rabi (winter) crops like wheat begins in October and harvesting from April onwards. A senior official with the agriculture ministry said that lower sowing of wheat is not a cause of concern as at present the Food Corporation of India has close to 36 million tonne (MT) of wheat stocks against the buffer norm on January 1 of 21.41 MT. India achieved a record wheat production of 122 MT in the 2020-21 crop year. The winter pulses such as chana, moong and urad have been planted in 156 lh this year so far as against 158 lh reported last year. However, sowing of chana, which had close to 47% share in India’s pulses production of 25.72 MT in 2020-21, has been marginally higher at 109 lh so far compared to last year. The sowing of oilseeds such as mustard, groundnut and sunflower rose sharply by more than 21% to close to 99 lh as on Friday from 81 lh reported a year back. The sowing of mustard so far has increased by 23% to close to 90 lh compared to close to 73 lh reported a year ago. Official sources said higher oilseeds sowing would help meet domestic edible oil demand and reduce import dependence. India imports around 60% of domestic edible oil requirement while the retail prices have risen sharply in the last few months because of rise in global prices. There was lower coverage under coarse-cum-nutri cereals as the total sown area has been lower at 46 lh so far as against 48 lh reported in the previous year. In the next couple of weeks, rabi sowing activities will be completed across the country. FCI would commence procurement of wheat from April 1 while depending on the market price prevailing, farmers’ cooperative Nafed could commence procurement of pulses and oilseeds. [ad_2] Source link

[ad_1] This week’s HW+ member spotlight features Joe Langner, CEO at ReverseVision. Langner has more than 30 years of senior leadership experience, driving growth at marquee mortgage technology and software companies. As a former executive vice president and chief sales officer at Ellie Mae, Langner helped execute the firm’s initial public offering in 2011. His other leadership positions include serving as CEO at Blue Sage, president at PCLender and executive vice president and general manager at Sage. Langner is a thought leader and subject matter expert in the mortgage space, and regularly contributes and participates in industry panels, roundtables and conferences. Below, Langner answers questions about the housing industry: HousingWire: To start off, what is your current favorite HW+ article? Joe Langner: I’d like to say it’s HW’s acquisition of Reverse Mortgage Daily in June of this year, but technically it wasn’t HW+ content; and, it’s a bit self-serving with ReverseVision being exclusive to the reverse mortgage business! But in all seriousness, I don’t have a particular favorite article. I read HW+ consistently and always gain significant value from the articles. HousingWire: What has been the most useful tech tool for you? Joe Langner: API’s and interconnectivity between software solutions. HousingWire: When do you feel like a success in your job?  Joe Langner: My customers’ expectations have been exceeded and my team feels empowered, trusted and valued both internally and externally. HousingWire: What’s the best piece of advice you’ve ever received? Joe Langner:  “Put yourself in the other person’s shoes.” In college, I studied biochemistry/genetics and now I’m leading a mortgage software company. One key to my success in business is to ask a lot of questions and always listen to what your customers, peers, influencers, and teams say.  I learned most of what I know in business by practicing this. When I ask questions for understanding and when I give answers to questions I’ve been asked, I always try to communicate from the perspective of my customer, peer, team member, etc. I’ve found that by looking at issues from the other person’s perspective, it gives you the opportunity to get out of your own head and look at things from the other side of the equation. HousingWire: What keeps you up at night and why? Joe Langner: The prospect that our seniors could be placed in the wrong mortgage for their age and financial status, and that reverse mortgage products could and should have been offered, but they weren’t because the lender that the borrower contacted does not offer them. We need to look out for our seniors and make sure they get what they need, and don’t get what they don’t need. HousingWire: What’s one thing that people aren’t paying attention to that you think they should be paying attention to? Joe Langner: Namely, it’s the absence of reverse mortgage programs being in a lender’s overall product offering.  While the reverse process is a bit different from forward lending, it is a misconception that it’s an arduous undertaking to get into that side of the business and that it takes a long time to get deals done.  With the right technology and partners, however, it’s simple to set up and begin offering reverse products to our seniors.  Currently, there is a $7 trillion reverse mortgage market sitting dormant in untapped equity among seniors. That’s a massive market opportunity that can add consistent revenue for years to come. To become an HW+ member, click here. For more information on HW+ benefits, click here. To view past issues of our HW+ exclusive HousingWire Magazine, go here. The post HW+ Member Spotlight: Joe Langner appeared first on HousingWire. [ad_2] Source link

[ad_1] Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  It was hard to mess things up in 2021 Happy New Year! And welcome to the first “Making sense of the markets” post for 2022.  Before we go any further, you must catch up (or look back, rather) as I made sense of 2021 in an epic post. As I wrote last week, it is an incredible opportunity I have to write a weekly commentary on the stock and bond markets. It provides a diary for the markets. I enjoyed looking back on all of the top headlines that shaped 2021, then putting together that 3,000-word journey through year two of the pandemic.  It was a year that delivered incredible returns for stocks. Even the much-maligned 60/40 balanced portfolio was up for the task, again. The reports of its death were greatly exaggerated.  An asset returns round-up for 2021 U.S. stocks led the way in 2021, and Canadian stocks were not far behind. Here’s a look at some major indices. Note: These returns do not include dividends.  S&P 500: +26.9% MSCI Taiwan: +25.5%  TSX Canada +21.7% MSCI Switzerland: +18.0% MSCI France: +16.9% MSCI Russia: +14.9% MSCI India: +14.0% MSCI United Kingdom: +13.1% MSCI Australia: +3.7% MSCI Germany: +3.2% MSCI Japan: -0.9% MSCI South Korea: -9.5% MSCI China: -22.5% MSCI Brazil: -24.3% And by regional category.  MSCI All-World Equity Index: +16.6% MSCI All-World ex-US Equity Index: +4.8% MSCI EAFE (non-US developed economies): +7.8% MSCI Europe: +13.4% MSCI Emerging Markets: -5.5% By sector for U.S. markets. 2021 now has the distinction as the only year in which every sector delivered double-digit gains.  Energy: +46.4% Real Estate: +41.7% Commodities +41.3% Financials: +32.5% Technology: +33.7% Consumer Discretionary: +27.6% S&P 500: +26.9% Materials: +25.2% Health Care: +24.2% Industrials: +19.5% Communication Services: +15.2% Consumer Staples: +14.3% Utilities: +14.2% Bitcoin delivered a return of 62%.  In Canada, energy ruled, along with REITs and financials. From the above you can see that it was hard to go wrong in 2021. A well-diversified, global 60/40 balanced portfolio delivered in the area of 11% in 2021. That’s very solid considering core bond funds were down for the year.  Here’s a look at the performance of the ETF model portfolios on my site. And stay tuned for performance reports for the Couch Potato Portfolios from MoneySense.  In 2021, this column introduced the Beat the TSX portfolio to readers. The simple stock portfolio idea had some of its biggest beats of the market, ever. Here’s the returns for the 10 holdings for 2021.  BTSX gains in 2021 Pembina (PPL) 36.1% Enbridge (ENB) 30.0% TC Energy (TRP) 20.3%  Bell (BCE) 27.9% Power Corp (POW) 49.9% Canadian Natural Resources (CNQ) 82.6% CIBC (CM) 41.5% Shaw (SJR.B) 78.4% Scotiabank (BNS) 38.0% Emera (EMA) 22.3% Beat The TSX return for 2021 – 42.7%  There’s more context and framing of the BTSX success on dividendstrategy.ca.  What is the January effect?  There is a stock market saying that “as goes January, so goes the year.” It’s called the January effect. DataTrek offers some insights once again. For U.S. stocks, the first five days of January. The first week of trading can also set the table for the year.  The first five days have delivered negative returns 37% of the time (down 2.4% on average), but still end the year higher 73% of those years, and delivered annual returns of 5.6% on average.  Markets are positive 63% of the time (up 1.8% on average), and higher in 77% of these years (up 13.0% on average). The takeaway: The S&P is up the first five days of trading during most years, and it generates more than double the annual return of years versus when it was negative during the first week of trading.  Historically, for the month of January, markets have been up an average of 1.1%.  The markets have been negative 39% of the time (down 3.7% on average), but still end the year higher 63% of the time (up 2.2% on average).  Historically, U.S. stocks have been positive 61% of the time in January (up 4.1% on average), and higher in 84% of these years (up 15.5% on average).  The takeaway here: The S&P is usually positive during January (over 60% of the time) and generates a much better return during these years with positive returns in the first month of the year. The difference is remarkable with an average annual return of +15.5% in up years, versus +2.2% in the down years.  For the record, January started on the wrong foot for both 2008 and 2000. Those years ushered in crippling bear markets.  While the markets started off 2022 on a positive note, they were hit hard on Wednesday January 5, thanks to the more hawkish tone out of the Fed minutes in the U.S. Into Friday U.S. stocks were down near 1.5% for the week.  As I wrote last week, the risk of an aggressive rising rate environment is likely the greatest threat to stocks over the next few years. Investors were spooked by the rate-hike suggestions from those minutes.  The risks for 2022   Here is another great write-up—as per usual—from Charles Schwab: “The top global risks for 2022”. The post begins reminding us that the greatest risks do not usually come out of left field. They are known risks that are hiding in plain sight. It’s rare to see an outlier, such as the pandemic that took hold in early 2020.  This year is likely to bring major shifts on many fronts, as we work our way out of the pandemic. Schwab identifies these top risks for 2022:  Shortages turn into gluts (too much supply) Rate hikes slower than expected China goes from cracking down to propping up COVID waves may not resemble those of 2021 Geopolitical surprises It suggests that the risk of surprise is not always to the downside. For instance, they see rate hikes that are much slower than expected. That might be welcomed

[ad_1] The post True Financial Freedom and How to Achieve It appeared first on Millennial Money. Our financial freedom definition is achieving your work-optional lifestyle of choice by creating passive income streams. People by the thousands are successfully reaching this goal. There’s a new generation dominating the workforce, and it’s dead serious about bucking the system.  Millennials and some forward-thinking Gen Zers are abandoning the 9-to-5 path that would keep them in bondage until their prime years are in the rearview mirror.   They’re determined to carve out a life they can enjoy NOW (or in the near future) with income that doesn’t depend on clocking in day after day.  Common financial freedom practices include: Saving money to pay off debt quickly = more money to invest Investing in stocks — including dividend stocks with regular cash payouts Maxing out retirement account savings — especially Roth IRAs Capitalizing on 401(k) savings plans with matching employer dollars  Real estate ownership — think rentals generating monthly income Side hustles with passive income streams  Financial Independence vs. Financial Freedom Financial independence is the step before financial freedom. When you’re financially independent, your passive income streams can cover all of your expenses, so you can shed that 9-to-5 job if you choose.  Let’s compare that to the financial freedom definition. When you’ve achieved financial freedom, money is no object and you can live the life of your choice.  The difference between independence and freedom is that the former allows you to step away from mandatory work, while the latter allows you to dream big and enjoy.  Why is Financial Independence Important? Before you can walk you must crawl, as the saying goes.  If you or I want to live life completely on our terms, we have to do some groundwork first. It would be pretty hard to travel the world and still have an employer, right? So achieving financial independence is a necessary part of the money-freedom journey.  Reaching the goal of financing your life without traditional work is an important feat of its own. It’ll prove that you’ve got what it takes to keep moving forward to total freedom.  The Benefits of Financial Freedom  Time to do whatever you want Travel options  Daily freedom to live life on your terms   Choices — whether to work, where you live, etc.  Peace of mind and relief from money stress Ability to engage with your family and create memories now Not spending the prime of your life under an employer’s thumb Freedom to serve your passions and learn something new Time to serve people or volunteer for causes close to your heart  Are There Any Downsides to Money Freedom?  The downsides or challenges aren’t many, but there are a few to consider. The biggest obstacle is often health insurance.  Employers are especially good at that one thing: providing health insurance. If you decide to forgo a typical job, you’ll need to figure out a plan for healthcare.  Another challenge may be the judgment of friends and family. As we follow different paths than generations before us, our choices can cause some friction at times.  Don’t be discouraged if the fam throws shade at you. Just walk on by. Seriously, work on developing thick skin and good boundaries. You’ve got this!  Financial Freedom Formula There’s a magic formula that’s typically used to figure out what you’ll need for actual work-optional living. It’s called the 4% rule, and it’s very simple. Take the amount of money you spend each year and multiply it by 25. This will be your savings goal.  This amount allows you to withdraw around 4% annually to support your yearly living expenses. It can create financial independence and lead to early retirement, but not necessarily freedom from money.  An extra step may be needed to live the life you want. You’ll have to add to this savings goal until it supports that lifestyle.   Some people view complete financial security and freedom in a minimalistic way and are most satisfied with simple living. In that case, this magic formula may be exactly what they need to have true financial freedom.  Financial Freedom Plan It’s fair to say that no one can get to financial freedom without setting goals and making a plan. So those are the first places to start.  Creating your plan  Planning takes time to evaluate what’s important. It also involves going over your finances carefully to see where things stand and what you need to change.  A lot of this can be done by yourself or with your partner, but a wise step would be to involve a financial planner in the process. They see things we often don’t see.  Put some real parameters on what your dream life looks like. Write down the must-haves and the maybes.  Evaluate your financial situation: spending, savings, income, emergency funds, retirement accounts (or lack of), etc., thoroughly — and write notes on things that need attention.  Decide when you’d like to aim for being job-independent using the financial freedom formula.  Evaluate how much money it would take to live the life you want. It’s usually a step beyond paying for regular monthly expenses.  Set up a step-by-step plan for reaching smaller, steady goals to get to the finish line of your financial freedom goal.  Setting Financial Goals There’s a philosophy surrounding goal-setting that’s referred to as SMART goals.  It’s definitely worth applying to your aspirations for financial independence and freedom.  How do you write a SMART goal? Specific: Really narrow down the goal so it’s very clear.  Measurable: Devise a way to measure progress so you’ll know if you’re on track or need to readjust part of the plan. Attainable: Is this goal realistic within a certain timeframe? Your total savings goal may not seem attainable at first, but breaking steps down into smaller goals is what we’re evaluating here.  Relevant: Does the goal relate closely to what you’re trying to achieve in this part of your life?  Time-based: Just as it sounds. You’ll want