How Much Economic Bellyaching Have You Seen Lately

 

Life is hard and it’s getting harder for the middle class. This is Bidenomics. pic.twitter.com/eqVUXCPsvr

— Ian Miles Cheong (@stillgray) August 27, 2023

The Dollar Continues Its Death Spiral

We're now a day away from the FEDNOW- CBDC government backed monetary system. Are you prepared ahead of time? Limit your exposure to thus system by keeping just the amount of money you need in banks.

When the bank runs come and compression into large banks take funds unprotected will you be caught up.

Do what you can by not allowing large amounts of your assets to stay in banks. Remember, the government backed FDIC has nowhere near the liquidity to guarantee your deposits. When banks become insolvent, you also become insolvent and will lose everything in your accounts.

I have started several years ago to buy silver bullion in US dollar denominations. Here in Florida US silver bullion sales aren't taxed or traced. Gold US coins also have this same protection.

Smart Investment Strategies for Early Retirement

 

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Image Source: Unsplash

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Understanding financial freedom and early retirement

Financial freedom and early retirement are goals that many people aspire to achieve. The ability to live comfortably without the constraints of a traditional job can provide a sense of freedom and fulfillment. However, achieving financial freedom and early retirement requires careful planning and smart investment strategies.

To understand financial freedom, it is important to define what it means to you personally. For some, it may mean having enough money to cover basic living expenses and enjoy leisure activities. For others, it may mean having a significant amount of wealth to pursue passions and philanthropic endeavors. Whatever your definition may be, it is crucial to have a clear understanding of your financial goals before embarking on your journey towards early retirement.

Once you have defined your financial goals, it is essential to assess your risk tolerance. Investing involves a certain level of risk, and it is important to determine how much risk you are comfortable with. Some individuals may be more risk-averse and prefer safer investment options, while others may be willing to take on more risk in pursuit of higher returns. Understanding your risk tolerance will help guide you in choosing the right investment strategies for your journey towards financial freedom and early retirement.

Before embarking on your journey towards financial freedom and early retirement, it is crucial to assess your financial goals and risk tolerance. Understanding what you want to achieve and how much risk you are willing to take will help you make informed investment decisions.

To assess your financial goals, start by determining your desired lifestyle in retirement. Consider your living expenses, travel plans, hobbies, and any other activities you wish to pursue. Take into account potential healthcare costs and inflation to ensure you have a realistic estimate of your future expenses.

Next, evaluate your current financial situation. Calculate your net worth by subtracting your liabilities from your assets. This will give you a clear picture of where you stand financially and help you set realistic goals for your journey towards financial freedom.

Once you have a clear understanding of your financial goals, it's time to assess your risk tolerance. Ask yourself how comfortable you are with taking risks and how much volatility you can handle in your investment portfolio. Consider factors such as your age, income stability, and time horizon for retirement. Younger individuals with a longer time horizon may be more willing to take on higher-risk investments, while those closer to retirement may prefer a more conservative approach.

Focusing On Credit Score Improvement

 

The best way to raise your credit score when you have bad credit is by understanding the factors that contribute to your score. Here are the five factors used to calculate your FICO® Score and how you can get high marks in each one:

• Payment history (35%): On-time payments are the key to excellent credit. While you can't undo previous late payments on your credit file, you can avoid late payments in the future. That's the number one habit you need to raise your credit score.
• Credit utilization (30%): Your credit utilization is the sum of your credit balances divided by your combined credit limit. For example, if you have one credit card with a balance of $200 and a limit of $500, then your credit utilization is 40%. The lower you can keep this number, the better. A good goal is to always have your credit utilization below 30%. If yours is higher, then you should focus on paying off debt.
• Length of credit history (15%): Creditors will obviously consider a borrower who has had a credit card for 20 years to be less risky than one who has only been using credit for three months. The best way to improve in this area is to open a no-annual-fee card and keep it open forever.
• Credit mix (10%): It gives you a slight credit score advantage if you have both revolving credit, such as credit cards, and an installment loan on your credit file, instead of just one of the two. But since this has only a small impact on your credit score, you shouldn't take out a loan solely to boost your credit. You can attain an excellent credit score even if you only use credit cards.
• New credit inquiries (10%): When a company looks at your credit report to make a credit decision, this inquiry is reported on your credit report for two years. Credit inquiries only affect your FICO® Score for one year, though. Don't avoid opening a new account just because of the small impact to your credit score, but don't open a bunch of accounts in quick succession, either.

Starting The New Month With Shib

I've been off and on adding cash to several exchange accounts. Three of these four accounts have a dollar cost average amount of $25 for each of the four cryptocurrency projects I'm invested in. Fractional buying is the way I'm adding to my actual stock plans too. I've been a long holder of $AMC stock since last January. Fortunately due to the lower cost of AMC shares I can add to my stack of shares held at Fidelity Investment brokerage. I'm not giving financial advice to anyone but I can see my eventual payoff coming in rather high with a bit more patience.