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Economic Talk®

Economics | Social Class Passing | Financial Literacy

About Economic Talk®

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How To Manage Your Money (50/30/20 Rule)
07:08

How To Manage Your Money (50/30/20 Rule)

In this video I present a high level overview on how to manage your money using the 50/30/20 Rule. Money management is 90% discipline and 10% knowledge. The 50/30/20 rule will force you to create a budget and understand where every single one of your after-tax dollars is going. 50% of your budget should be spent on needs which are are things that are essential to life and that you literally cannot live without. 30% should be spent on wants which could be classified as things that bring you joy and happiness, but are NOT essential to living. (Dining out, entertainment, hobbies, etc.) The final 20% should be spent on savings, paying off debt, and retirement planning. I feel like a lot of people confuse wants for needs, and we know the difference deep down, but we really want the one that we don't have the self-discipline to say no. Step into a life of becoming smarter with your money. Master the 4 Pillars of wealth by joining WhiteBoard Finance University Today! 👉 http://www.wbfuniversity.com EXCLUSIVE: Get 1-3 FREE Stocks valued up to $3500 On MooMoo ⮕ https://whiteboardfinance.com/go/moomoo FUNDRISE - INVEST IN REAL ESTATE FOR ONLY $500 ► https://whiteboardfinance.com/go/fundrise M1 FINANCE - INVEST FOR FREE (Yes, Really) ► https://whiteboardfinance.com/go/m1-finance My FREE M1 Finance Training Video ► https://whiteboardfinance.com/go/m1-finance-training My FREE Stock Market For Beginners Guide ► https://whiteboardfinance.com/go/stockmarket4beginners GET MY HOME AFFORDABILITY SPREADSHEET HERE ► https://www.patreon.com/whiteboardfinance SCHEDULE A COACHING CALL WITH ME ► https://whiteboardfinance.com/go/marko-coaching HOW TO BUY & STORE BITCOIN ► https://whiteboardfinance.com/go/bitcoin THE BEST CREDIT CARDS TO USE RIGHT NOW ► https://whiteboardfinance.com/go/best-credit-cards CHECK OUT MY BLOG: ► https://whiteboardfinance.com FOLLOW ME ON INSTAGRAM ► https://www.instagram.com/whiteboardfinance Instrumental Produced By Chuki: http://www.youtube.com/user/CHUKImusic ABOUT ME 👇 My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur. This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience. Subscribe if you are interested in: #Investing #PersonalFinance #Entrepreneurship #StockMarket DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.
What is the Delaware Loophole
08:56

What is the Delaware Loophole

A tax haven is a jurisdiction where particular taxes, such as an inheritance tax or income tax, are levied at a low rate or not at all. It may also refer to a state, country, or territory which maintains a system of financial secrecy, which enables foreign individuals to hide assets or income to avoid or reduce taxes in the home jurisdiction. Earnings from income generated from real estate (i.e. by renting property owned in an offshore jurisdiction) can also be eliminated in this way. If taxes (if any) are paid in the tax haven jurisdiction, companies can avoid taxes in their home jurisdiction because the tax had already been paid in the lower tax rate jurisdiction. Some taxes (such as inheritance tax on the real estate, VAT on the initial purchase price of the real estate, or transfer tax, annual immovable property taxes, and municipal real estate taxes) cannot be avoided or reduced, as these are levied by the country the real estate where the property is located, and hence need to be paid just the same as any other resident of that country. The only thing that can be done is picking a country that has the smallest rates on these taxes (or even no such taxes at all) before buying any real estate. Individuals or corporate entities may establish shell subsidiaries or move themselves to areas with reduced or no taxation levels relative to typical international taxation. This creates a situation of tax competition among jurisdictions. Different jurisdictions may be havens for different types of taxes, and for different categories of people or companies. sovereign jurisdictions or self-governing territories under international law have the power to enact tax laws affecting their territories, unless limited by previous international treaties. A 2012 report by the British Tax Justice Network estimated that between US$21 trillion and $32 trillion is sheltered from taxes in unreported tax havens worldwide. If such wealth earns 3% annually and such capital gains were taxed at 30%, it would generate between $190 billion and $280 billion in tax revenues, more than any other tax shelter. If such hidden offshore assets are considered, many countries with governments nominally in debt are shown to be net creditor nations. However, despite being widely quoted, the methodology used in the calculations has been questioned, and the tax policy director of the Chartered Institute of Taxation also expressed skepticism over the accuracy of the figures. Another recent study estimated the amount of global offshore wealth at the smaller—but still sizable—figure of US$7.6 trillion. This estimate included financial assets only: "My method probably delivers a lower bound, in part because it only captures financial wealth and disregards real assets. After all, high-net-worth individuals can stash works of art, jewelry, and gold in 'freeports,' warehouses that serve as repositories for valuables—Geneva, Luxembourg, and Singapore all have them. High-net-worth individuals also own real estate in foreign countries." A study of 60 large US companies found that they deposited $166 billion in offshore accounts during 2012, sheltering over 40% of their profits from U.S. taxes. Wikipedia: https://en.wikipedia.org/wiki/Tax_haven DocumentaryFR3AK Twitter: https://twitter.com/docuFR3AK Youtube: https://www.youtube.com/channel/UC8Gx6FMI78NSKSj16L-37LA Facebook: https://www.facebook.com/profile.php?id=100012441496975
Chamath Palihapitiya loves giving Harvard MBA's a reality check
06:01

Chamath Palihapitiya loves giving Harvard MBA's a reality check

Chamath Palihapitiya is a Sri Lankan-born Canadian-American venture capitalist and the founder and CEO of Social Capital. Prior to the Social Capital Partnership, Palihapitiya was the longest tenured original member of Facebook's Senior Management team. He served in various roles during his four-year stint at Facebook, including Vice President of User Growth, Mobile and International at the conclusion of his tenure in June. A resident of Palo Alto, Palihapitiya joined Facebook in 2007 and was a major force in the launch and incredible growth of the social media website, overseeing monetization products, Facebook Platform, managing the team responsible for its mobile products and, ultimately, helping increase the user base to more than 750 million individuals worldwide. Palihapitiya also held senior management positions at AOL (Vice President and GM of AIM and ICQ), Mayfield Fund (a venture capital firm in Silicon Valley), Winamp and Spinner.com (two internet music pioneers) prior to joining Facebook. He attended the University of Waterloo in Ontario, Canada, where he graduated First Class Honors in Electrical Engineering. DISCLAIMER: The material and information presented in this video is for entertainment, and general information purposes only. You should not rely on any of the information presented as a basis for making any investment decisions. You should consult with an attorney or other professional to determine what may be best for your individual circumstances.
Don't Be Left Without An Income: The Truth About Income Protection And Disability Insurance
10:05

Don't Be Left Without An Income: The Truth About Income Protection And Disability Insurance

In this video, we dive deep into the critical topic of income protection and disability insurance. I explain why your ability to earn income is your most valuable asset and why protecting it is essential. We'll debunk common misconceptions about disability and explore the top reasons for disability. I'll also outline the four types of disability coverage and discuss the importance of having an emergency fund. Don't miss out on this valuable information that can safeguard your financial future. Subscribe now and join the conversation in the comments below! ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: https://www.youtube.com/channel/UCLoIaI_vPPWX47TamcxtP_A/join Chat on discord: Join Link https://discord.gg/enuJThjHJ9 Support on Patreon: https://patreon.com/TravisSickle Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE http://bit.ly/2Fo21Ry Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you. TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP® CERTIFIED FINANCIAL PLANNER™ Company Website: https://www.sicklehunter.com twitter: @travissickle Instagram: https://www.instagram.com/travistsickle Facebook: https://www.Facebook.com/SickleHunterFA LinkedIn: https://www.linkedin.com/in/travissickle Sickle Hunter Financial Advisors 1646 W Snow Avenue Suite 144 Tampa, FL 33606 Check out Google Business Profile https://g.page/r/CXEtUMZmXslnEAE ------------------------------------------------------- Gear Used in Videos https://bit.ly/3bUPvXP Partnership referral links Aura Identity Theft Protection *Up to 50% off* HTTPS://www.aura.com/travis Bitcoin IRA https://bitcoinira.pxf.io/75aJQQ https://bit.ly/3OPpmjZ All Amazon links are affiliate links ____________________________________________________________________________ Information in this video is for educational and entertainment purposes only. sicklehunter.com/disclosures ____________________________________________________________________________ #travissickle
The Billionaire Who Wanted To Die Broke Is Now Officially Broke | Forbes
05:43

The Billionaire Who Wanted To Die Broke Is Now Officially Broke | Forbes

Charles “Chuck” Feeney, 89, who cofounded airport retailer Duty Free Shoppers with Robert Miller in 1960, amassed billions while living a life of monklike frugality. As a philanthropist, he pioneered the idea of Giving While Living—spending most of your fortune on big, hands-on charity bets instead of funding a foundation upon death. Since you can't take it with you—why not give it all away, have control of where it goes and see the results with your own eyes? Over the last four decades, Feeney has donated more than $8 billion to charities, universities and foundations worldwide through his foundation, the Atlantic Philanthropies. When I first met him in 2012, he estimated he had set aside about $2 million for his and his wife's retirement. In other words, he's given away 375,000% more money than his current net worth. And he gave it away anonymously. While many wealthy philanthropists enlist an army of publicists to trumpet their donations, Feeney went to great lengths to keep his gifts secret. Because of his clandestine, globe-trotting philanthropy campaign, Forbes called him the  James Bond of Philanthropy. On September 14, 2020, Feeney completed his four-decade mission and signed the documents to shutter the Atlantic Philanthropies. The ceremony, which happened over Zoom with the Atlantic Philanthropies’ board, included video messages from Bill Gates and former California Gov. Jerry Brown. Speaker of the House Nancy Pelosi sent an official letter from the U.S. Congress thanking Feeney for his work. At its height, the Atlantic Philanthropies had 300-plus employees and ten global offices across seven time zones. The specific closure date was set years ago as part of his long-term plan to make high-risk, high-impact donations by setting a hard deadline to give away all his money and close shop. The 2020 expiration date added urgency and discipline. It gave the Atlantic Philanthropies the time to document its history, reflect on wins and losses and create a strategy for other institutions to follow. As Feeney told me in 2019: “Our giving is based on the opportunities, not a plan to stay in business for a long time.”  Read the full profile on Forbes: https://www.forbes.com/sites/stevenbertoni/2020/09/15/exclusive-the-billionaire-who-wanted-to-die-brokeis-now-officially-broke/#7283f1e33a2a Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Investopedia Video: What Is Inflation?