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My name is Jeffrey Sloe. I'm an Internet Marketing Advisor, SEO expert, and webmaster. My main goal is to help individuals learn the proper techniques to market on the Internet.

Free Money Didn’t Help People Find Jobs Finland Says

Free Money Didn’t Help People Find Jobs, Finland Says

By Kati Pohjanpalo
February 8, 2019, 1:47 AM EST Updated on February 8, 2019, 4:24 AM EST

Distributing free money to the unemployed improves their well-being, but doesn’t appear to have any significant impact on their job prospects.

That’s according to the preliminary results of a landmark experiment in Finland, the first country in the world to trial a basic income at a national level.

The Nordic social welfare champion spent the last two years handing out 560 euros ($635) per month to a randomly selected group of 2,000 jobless people aged between 25 and 58. The basic aim was to explore new ways of distributing social security in a world where more workers are threatened by automation and fewer are likely to take on traditional nine-to-five jobs. The current system is seen as too bureaucratic and often dissuades people from taking on temporary or part-time work.

According to a preliminary assessment published on Friday by the social services agency Kela, the recipients of the monthly stipend spent on average about half a day more in employment per year than the control group.

“On the basis of an analysis of register data on an annual level, we can say that during the first year of the experiment the recipients of a basic income were no better or worse than the control group at finding employment in the open labor market,” said Ohto Kanninen, Research Coordinator at the Labour Institute for Economic Research.

The recipients did however report “less stress symptoms as well as less difficulties to concentrate and less health problems than the control group,” said Minna Ylikanno, lead researcher at Kela. “They were also more confident in their future and in their ability to influence societal issues.”

Feeling Better

Self-perceived assessment of own state of health was better among recipients

Old Debate

Kela’s results are set to add fodder to a debate that’s been intriguing political philosophers and economists for centuries: What happens when citizens are given money with no strings attached?

Against the background of a global discussion on how to deal with rising inequality, the pilot project has attracted international attention and is being closely watched by economists, sociologists and billionaires including Mark Zuckerberg and Elon Musk.

Read more on the history of a Universal Basic Income

The idea of a basic income as a replacement for means-tested welfare payments has its share of supporters on both the left and the right of the political spectrum. Advocates say it eliminates poverty traps and redistributes income while empowering the individual and reducing paperwork. The concept has inspired Italy’s populist government, which this week started honoring its election promise of a “citizen’s income” for the poor.

Read more on Italy’s Citizens Income

Other countries have taken different avenues, with the U.K. opting instead for a Universal Credit system that replaced six means-tested benefits and tax credits with a single monthly payment.

Finland’s experiment was implemented by the government of Juha Sipila, the country’s first millionaire prime minister, between 2017 and 2018.

Despite solid economic growth and falling unemployment, Finland suffers from an aging population. The country is seen as a trend-setter when it comes to social policy, with its education system and baby boxes (containers full of baby clothes and care products delivered to expectant mothers) admired around the world.

Useful Data

With its road-testing of a basic income, the government wanted to find out whether a basic income could simplify the social security system, eliminate excessive bureaucracy and remove incentive traps. Researchers at Kela also wanted to measure its impact on the participants’ physical and psychological well-being.

Olli Karkkainen, an economist at Nordea Bank Abp, found the results surprising.

“I had expected the basic income experiment to have a greater positive impact on employment because incentives for work were boosted so significantly,” he said in an interview.

Pirkko Mattila, Finland’s minister of social affairs and health, said that despite its success in providing useful data, “the basic income model developed for the experiment is not likely to be adopted as such for more extensive use.”

According to some estimates, a nationwide basic income would add around 5 percentage points to Finland’s public deficit relative to gross domestic product.

Friday’s preliminary results only looked at the first year and focused on statistical data, with a final report not due until 2020.

With assistance by Leo Laikola, and Brad Cook

Original article posted on and written by Kati Pohjanpalo

Posted on Markethive by Jeffrey Sloe

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A Bitcoin ETF Will Eventually Be Approved SEC Commissioner Says

A Bitcoin ETF Will Eventually Be Approved. SEC Commissioner Says

Despite previous failed attempts by important players at registering a Bitcoin ETF, eventually, one will meet the security standards required by the SEC for approval. So said Robert Jackson, the only Democrat commissioner in the SEC.

In an interview shared on Twitter by Adjunct Professor at NYU Stern Drew Hinkes, Mr. Jackson was sure that in the near future there will be a Bitcoin ETF, but he stressed that until now all applications have failed to prove to the SEC that a Bitcoin ETF cannot be manipulated.

“Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so …
Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt.”

The interview, which could be officially published on February 11 according to Hinkes, features an optimistic but cautious Jackson. According to the commissioner, the previous applications showed important flaws in relation to liquidity protection, protection against manipulations, and various issues related to custody service among other legal aspects.

A Bitcoin ETF Can Be Difficult… But Not Impossible.

Mr Jackson cited as an example the proposal presented by the brothers Cameron and Tyler Winklevoss. This proposal raised several concerns regarding the possibility of market manipulation. He also pointed out that it was easy to find certain liquidity issues that made the approval of such proposal not very responsible:

“The case that we had last year involving the Winklevoss trust, in my view, was not a difficult case. So there you had a situation where the risk for manipulation and for people getting hurt was enormous. The liquidity issues in the market were very serious”

Although the extract shared by Hinkes does not reveal comments on other proposals, it could reveal Jackson’s optimism at the interest of various actors to promote this emerging market:

“I’m happy to say market participants have begun to come in with ideas. Whether or not we’re going to find one that really protects investors I don’t know, but I do know that case wasn’t especially close”.

For now, both NYSE and CBOE have begun the process of applying for approval of a Bitcoin ETF.

Original article written by Jose Antonio Lanz and posted on the site.

Article posted on Markethive by Jeffrey Sloe

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4500 Stores Worldwide Now Accept XRP for Goods And Services

4500 Stores Worldwide Now Accept XRP for Goods And Services

Ripple keeps growing at a dizzying rate, demonstrating that they not only have the blockchain technology preferred by large banks and financial institutions, but they have also developed a token that works perfectly as a cryptocurrency that grows in use and acceptance faster than any other altcoin in the ecosystem.

Despite the skepticism of many, the Ripple team has managed to captivate several investors, with important new partnerships. The last one was revealed a few hours ago when the cryptocurrency payment processor CoinGate announced that it was providing support for XRP in all of its 4500 stores.

Coingate Accepts XRP But Also Wants To Help it Grow

The CoinGate team comments that in addition to having studied the technology, the decision to accept XRP was made considering the high demand for the token in the community.

“We are thrilled to let you know that we are adding yet another payment option for our merchants, and this time it’s a big one! Due to very popular demand by the community, our next cryptocurrency on the list – XRP! As a result, XRP coin owners can now use it as a means of payment at more than 4,500 shops online! Whether you want to purchase a VPN, video game or anything else, you are more than welcome to do that!”

CoinGate emphasized that as a company they have high confidence in Ripple’s trustworthiness and the advanced blockchain technology they develop. CoinGate noted that despite accusations of being extremely centralized, Ripple is carrying out a decentralization strategy in which they stimulate the admission of third-party validators, removing one proprietary node for every two new decentralized nodes.

They also expressed their commitment to Ripple technology. “To further accelerate the decentralization of the XRP network, we are now running our own XRP Ledger validator!” Coingate said in its announcement.

The relationship between Coingate and Ripple is not limited only to supporting XRP as a payment mechanism. Coingate also announced the launch of a token purchase service with several payment modalities:

“Now, you can also buy XRP via CoinGate using one of our supported methods. For example, you are able to purchase it using SEPA bank transfer, mobile balance, and QQPay via CoinGate dashboard. However, if you do not wish to bother with registration, there are alternative methods to achieve the same.
One way is to buy XRP with a credit/debit card. It is a very simple procedure that only requires a quick KYC check-up. Same goes for those who wish to purchase XRP using Neteller or Skrill wallets. Just provide your receiving XRP address, enter your credentials and proceed to checkout!”

Ripple is Growing… And You Can Be a Part of It

Ripple’s growth is a fact. Its marketing strategy and a solid technological development have allowed it to rise to number 2 in the global market cap, surpassed only by Bitcoin, which remains the undisputed king of cryptocurrencies.

Currently, unlike other projects that have had to dismiss several members due to economic losses, Ripple has initiated a campaign to acquire talent. At the moment there are 36 open positions listed on Ripple’s job site, for various departments in countries such as the United States, United Kingdom, Brazil, China, Dubai, Singapore, and India.

Original article written by Jose Antonio Lanz and posted on the site.

Article posted on Markethive by Jeffrey Sloe

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Trader’s Reprieve: Turbo Tax Now has a I sold or Traded Cryptocurrency Option

Trader’s Reprieve: Turbo Tax Now has a “I sold or Traded Cryptocurrency” Option

It’s around that time of the year and as government workers resume after one of the longest shut-down in US history, the IRS will soon be ready to knock on your doors. Like everywhere else, filing for taxes is a mandatory and crypto traders, investors and holders must comply. Everything else constant, filling will be hectic for crypto day traders. These are individuals who actively trade—and it doesn’t matter the pair. Both crypto-to-crypto and crypto-fiat or vice versa are deductible events and the US government expect taxes from these properties whenever you buy or sell. Luckily and as reported by Ethereum World News, CoinBase did integrate with Turbo Tax to simplify filling.

Turbo Tax Simplification

But, here’s some good news for those who transact at alternative on-ramps—fiat to crypto or crypto to crypto. Turbo Tax now has a “I sold or Traded Cryptocurrency” option. No doubt, this will be a massive boost for traders seeking to cut down the tedious process of counter-checking and filling taxes online. Aside from this new option, note that users won’t be charged a cent and all they have to do is create an account.

Furthermore, the site provides and easy way to track trades. The only problem is that Turbo Tax can only accept 100 trades and they have been reducing this from 1,000 to 500 and now 100 trades which is quite disappointing especially for active traders. However, users can get around this by filtering their CSV files to exclude zero gains.

Before you move on and download your CSV, take a few minutes and note this:

  • Make sure you fill and submit Form 8949 on time.
  • Crypto-to-crypto and crypto-to-fiat (or vice versa) trading is a taxable event
  • Spending your crypto, like buying stuff online, is a taxable event.
  • Gifting someone in crypto is a non-taxable event—but must have supporting documents.
  • Making crypto donations to IRS certified charities is not a taxable event.


Hiding your assets—let’s buy Monero guys—is tax evasion and a federal offense. CoinBase was forced to give away traders that had transacted more than 20k. There is no hiding.

Original article written by Daimas Ngetich and posted on the site.

Article posted on Markethive by Jeffrey Sloe

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Nasdaq Invest in Blockchain Technology Pushing For Crypto And Blockchain Adoption

Nasdaq Invest in Blockchain Technology, Pushing For Crypto And Blockchain Adoption

Nasdaq has decided to take a step forward in the push for blockchain technologies and adoption of cryptocurrencies, investing a substantial amount of money recently in the financing of a startup that develops Enterprise blockchain solutions.

According to an official press release, Symbiont successfully closed a $20m Series B funding round. Nasdaq Ventures led the round which also included investors such as Mike Novogratz’s Galaxy Digital, Citi and Raptor Group among others.

The money will be used to promote the growth of Assembly, a blockchain platform created by the company with support for Smart contracts and tokenization solutions.

Symbiont CEO and Co-founder Mark Smith expressed his enthusiasm after the success of having obtained the support of such important sponsors:

“Closing this round of funding enables us to accelerate investments in our platform and team … Leveraging our financial markets and blockchain technology experience, our anchor partners like Vanguard, Lewis Ranieri, and Nasdaq will benefit from developing new distributed applications on Assembly, our enterprise blockchain and smart contract platform. Assembly provides the opportunity for new participants to enter the digital asset market and offers existing participants a superior infrastructure on which to build the future of financial markets.”

Nasdaq also expressed its optimism and confidence in Symbiont’s success. For Gary Offner, Head of Nasdaq Ventures, products like Assembly can contribute to the economic growth of many companies on a global scale:

“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world … Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”

Despite the bearish behavior of the crypto market in 2018 and the pessimism of many, Adena Friedman, President, and CEO of Nasdaq remains optimistic about the impact of the cryptocurrencies in the future. She is also determined to launch Bitcoin Futures and maybe an exchange if conditions are favorable. She recently addressed her followers on LinkedIn commenting on her impressions:

“It is difficult to ignore the huge amount that investors, including some of the most sophisticated global investors, have poured into digital currencies in recent years. The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy … At Nasdaq, we are working to help cryptocurrencies gain investors’ trust by offering our technology for trade matching, clearing, and trade integrity to start-up exchanges. We have also invested in ErisX, an institutional marketplace for cryptocurrency spot and futures. While this year will be another proving ground for cryptocurrencies, we believe digital currencies will have a role in the future. The extent of its impact will depend on the evolution of regulation and broader institutional adoption.

Original article written by Jose Antonio Lanz and posted on the site.

Article posted on Markethive by Jeffrey Sloe

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Help Koty

Help Koty

Hello fellow Markethive members and guests. I was promoting Markethive to a very talented "starving artist", friend and former co-worker. I explained how Markethive works, how valuable it is for entrepreneurs, like herself, and how blog posts can spread across the web exponentially, which is a great way to get information out to the masses.

She must have remembered what I said because she sent me an email asking if I could help her get the word out about her's neighbors' dog. She also attached a copy of her neighbor's call for help. Here's the call for help:

"This short story is about Koty, our 20 month old German Shepherd puppy who has been through more than most dogs experience in an entire lifetime.

We almost lost him to a deadly lung inflammation brought on by a fall suffered as a result of a neighbor’s negligence. The incident occurred while the neighbor playing with Koty was told twice not to throw sticks up but outward to keep him from jumping too high as their bones are still forming and not strong enough to withstand hard impacts. He proceeded to throw the stick up in the air which Koty then jumped after, falling on his chest when landing.

Hours later we rushed him to emergency vet as he was suffocating from the fluid building in his now collapsed lung. This trauma then triggered a severe case of Panosteitis, a very painful inflammation of the long bones of the legs. His case is unusually severe causing him to lose weight and muscle mass. The strong medications he must have to help control the pain started to affect his stomach and had to be cut back, so I lay with him all night, every night, while he cries in pain.

Even with the meds cut back, the costs run more than $700 a month with all the bills from the emergency visit, chest tap, the many x-rays, office visits, and water therapy sessions needed to combat the muscle atrophy.

We have been informed that part of his pain is also due to a hip deformity that has developed and now needs a complete hip replacement costing upwards of $8,000. We cannot possibly afford this and have completely run out of options.

The person who caused all of this is has not only refused to accept any responsibility but now won’t talk to either of us and avoids us whenever we cross paths.

Still not fully over the loss of our dear Shepherd, Axel, who passed away suddenly just a little over 2 years ago, I cannot bear the loss of our beautiful pup who has already endured so much in his young life.

If you could please find it in your hearts to help in any way possible to save this precious dog’s life it will be appreciated far more than you will ever know.


Thank you so very much for taking the time to read this.

Linda and Bob Smith"

I told my friend, Patty, that I would post this on Markethive and see what kind of results it will produce. This is not me begging for money; however, if anyone one is willing to help support Linda and Bob with their vet expenses, it would be greatly appreciated.

Also, it would be so kind of you if you could repost this on your blogs; it would also be greatly appreciated. You just never know how far the ripples will go when you throw a pebble into a pond; consider this the pebble.

I believe the community of Markethive can be used for the greater good, especially for the people that need help.

Thank You and God Bless You!
Jeffrey Sloe

There is additional information on the HELP KOTY on GOFUNDME page. Please click on the link to learn more.

Posted on Markethive

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  • Scientists behind a headline-grabbing climate study admitted they “really muffed” their paper.
  • Their study claimed to find 60 percent more warming in the oceans, but that was based on math errors.
  • The errors were initially spotted by scientist Nic Lewis, who called them “serious (but surely inadvertent) errors.”


The scientists behind a headline-grabbing global warming study did something that seems all too rare these days — they admitted to making mistakes and thanked the researcher, a global warming skeptic, who pointed them out.

“When we were confronted with his insight it became immediately clear there was an issue there,” study co-author Ralph Keeling told The San Diego Union-Tribune on Tuesday.

Their study, published in October, used a new method of measuring ocean heat uptake and found the oceans had absorbed 60 more heat than previously thought. Many news outlets relayed the findings, but independent scientist Nic Lewis quickly found problems with the study.

Keeling, a scientist at the Scripps Institution of Oceanography, owned up to the mistake and thanked Lewis for finding it. Keeling and his co-authors submitted a correction to the journal Nature. (RELATED: Headline-Grabbing Global Warming Study Suffers From A Major Math Error)

“We’re grateful to have it be pointed out quickly so that we could correct it quickly,” Keeling said.

In a statement posted online Friday, Keeling said “the combined effect of these two corrections to have a small impact on our calculations of overall heat uptake.” However, Keeling said the errors mean there are “larger margins of error” than they initially thought.

So, while Keeling said they still found there’s more warming than previously thought, there’s too much uncertainty to support their paper’s central conclusion that oceans absorbed 60 percent more heat than current estimates show.

“Our error margins are too big now to really weigh in on the precise amount of warming that’s going on in the ocean,” Keeling told The Union Tribune. “We really muffed the error margins.”

Keeling and his co-authors used the study to debut a new way of estimating ocean heat uptake by measuring the volume of carbon dioxide and oxygen in the atmosphere. Scientists are still intrigued by this method, but all the kinks need to be worked out.

“So far as I can see, their method vastly underestimates the uncertainty,” Lewis told The Washington Post in an interview Tuesday, “as well as biasing up significantly, nearly 30 percent, the central estimate.”

Lewis pointed out the errors in Keeling’s study in a blog post published Nov. 6 on climate scientist Judith Curry’s website. Lewis wrote that “[j]ust a few hours of analysis and calculations … was sufficient to uncover apparently serious (but surely inadvertent) errors in the underlying calculations.”

Lewis is an ardent critic of climate scientists’ over-reliance on climate models, which he says predict too much warming. Lewis and Curry published a study earlier in 2018 that found climate models overestimated global warming by as much as 45 percent.

Lewis’s corrections were quickly confirmed by University of Colorado professor Roger Pielke Jr. Pielke called Keeling’s acceptance and willingness to correct the mistakes a “lesson in graciousness.”

“Unfortunately, we made mistakes here,” Keeling told WaPo. “I think the main lesson is that you work as fast as you can to fix mistakes when you find them.”

Article written by Michael Bastasch and posted on The Daily Caller.

Article reposted on Markethive by Jeffrey Sloe

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Blockchain Investor Claims Bitcoin BTC Will Plunge To 0

Blockchain Investor Claims Bitcoin (BTC) Will Plunge To $0

Economists Bash Bitcoin In The Swiss Alps

Bashing Bitcoin (BTC) has apparently become a popular trend at Davos’ recent World Economic Forum event. More specifically, the cryptocurrency has become a punching bag. Just yesterday, per previous reports from Ethereum World News, Huw Van Steenis, the senior advisor to Bank of England’s governor, Mark Carney, bashed this nascent asset class.

Speaking to Bloomberg in a candid interview, Steenis, who purportedly is compiling a report about the future of finance, surprisingly claimed that cryptocurrencies, like Bitcoin aren’t on his radar, or list of concerns for that matter. The former Morgan Stanley economist then remarked that blockchain-based assets “fail” the basic tests that financial services are de-facto run through. Steenis explained that BTC, along with other digital assets, is slow, fail to hold their value over time, and aren’t a viable, bonafide Medium of Exchange (MoE).

Tech Investor Claims BTC Will Fall To $0

Just one day later, BTC fell victim to another attack, as a technology investor and entrepreneur took to a CNBC-hosted panel to bash the blockchain-based digital asset. According to CNBC post-mortem on the manner, Jeff Schumacher, the founder of BCG Digital Ventures, a corporate investment and tech incubator group, claimed that the flagship cryptocurrency could capitulate to a value of zilch eventually.

Speaking to a crowd of economists, global leaders, notable investors, and corporate C-suiters, Schumacher explained that he “believes it will go to zero,” adding that he thinks that it (or the technology underlying Bitcoin) is a “great technology.” However, the BCG founder made it clear that he doesn’t think that blockchain technologies should be applied to currencies, accentuating that its underlying value isn’t based on anything. Like many traditionalists with a vested interest in the centralized system, Schumacher fails to see the value of a decentralized, immutable, cross-border, rapid, uncensorable current that transcends the boundaries imposed by financial incumbents.

Instead of lauding blockchain technologies for their potential revolutionary use cases in finance, Schumacher instead touched on the innovation’s ability to facilitate “open decentralized ecosystems,” which would be the global protocols and infrastructure that businesses could run on.

Yet, some weren’t in agreement with Schumacher’s inflammatory quip. Glenn Hutchins, the chairman of Virtu-affiliated North Island, a financial technology services company, claimed that BTC will likely grow to have a notable role as a Store of Value (SoV). Hutchins noted that BTC’s role “in the system” could be as pseudo-gold in a digital economy, rife with arrays of tokens that serve every use case imaginable.

Hutchins isn’t the only notable investor to think of Bitcoin as a digital semblance of the orange-esque precious metal. As reported by Ethereum World News multiple times previously, a number of pundits have overtly claimed that BTC’s foremost use case is as digital gold.

Alistair Milne, the CIO of Digital Currency Fund, claimed that Bitcoin has seen its Store of Value (SoV) proposition become more apparent. More specifically, he noted that Bitcoin’s investors are now “very aware that BTC is like trading gold with 100x leverage,” along with the fact that the flagship cryptocurrency’s inflation rate will be lower than that of the precious metal. And, as “no one appears to doubt the usefulness of gold,”

The Winklevoss Twins, the co-founders of the Gemini Exchange, recently claimed that Bitcoin “better at being gold than gold itself.” Twin Tyler noted that as this industry continues to develop, BTC will continue eating up bits of gold’s market capitalization, until the newfangled cryptocurrency passes its (arguably worse) physical counterpart.

Lou Kerner has also recently chimed in on the matter. Kerner, the founding partner at CryptoOracle, divulged that the cryptocurrency’s portability, ease-of-use, divisibility, and scarcity, make it a viable alternative to precious metals, and will allow BTC to eventually surmount its quintuple-digit cell.

Original article written by Nick Chong and posted on the site.

Article posted on Markethive by Jeffrey Sloe

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How to Make Sure a Divorce Doesn’t Hurt Your Savings

How to Make Sure a Divorce Doesn't Hurt Your Savings

January 14, 2019

Ah, divorce! Not only do you have to worry about your kids, your custody right and your ex-spouse–you now have to worry about your wallet too. If only heartbreak didn’t come with a legal fee, life would be a lot easier to handle. Unfortunately, for all of us, it’s not that simple. You need to talk to the guys in suits.

Luckily, most of us are not negotiating multi-million-dollar separations, and just a little effort can mean saving big. The less you do yourself the more you have to delegate, and that delegation doesn’t come cheap. So do your research, organize your finances and recognize that no one will be happy with who gets the dog. With just a little work it doesn’t have to be painful. Well, not that painful, anyway.

1) DIY divorcing

You’ve heard of DIY crafting? Well there’s also DIY divorce. It might not be as Pinterest-friendly, but doing the divorce yourself is the best way to save money, especially if your divorce involves simple assets and you’re still on speaking terms. Talk it over and assemble the necessary documents, and maybe hire a lawyer to give it a once-over before filing. For most of us with a simple financial situation this is an easy way to get things done.

2) Consider hiring a mediator

If things are tense or assets confusing, however, consider hiring a mediator, a kind of separation guru there to help your divorce. Mediators don’t have to be lawyers–they can be anything from mental health professionals to financial advisors, or even just a third pair of eyes. This is a great way to get a third-party to help you divide assets without getting involved with nasty legal fees–mediators come at a much cheaper price, and because they’re hired by both parties, they’re not incentivized to delay proceedings for financial means.

3) Paralegals are your friend

So what exactly is a paralegal? Well, paralegals are like lawyers who don’t charge a lawyer’s fee. When it comes to nitty-gritty details and difficult legal minutiae, they are a fantastic option if you want to avoid calling your lawyer. They can help advise your court proceedings, hearing dates and other questions that your lawyer will answer only at a cost. Even better, paralegals and legal assistants respond quicker than lawyers, which can really help when you’re having difficulty hearing back from the attorney you’ve hired.

4) Get a free consultation

Sensing a theme here about lawyers? If you do have to get a lawyer, make sure you get the right one. Getting a lawyer you can trust is extremely important, and can turn a disaster into a relatively painless affair. Many lawyers offer one free consultation, so make sure to shop around. This is also a great way to get pro-bono legal advice, if you just have a few questions to ask.

5) Do your homework

Whether you’re going DIY or you’ve hired an attorney, having your documents in order will save you money in the end. You have to pay for a lawyer’s time, so make sure you know your questions, and can use the time effectively without having to drag things out. Working with your ex-spouse to organize your finances means doing a lot of the legwork that otherwise you’d have to pay someone to do. They more you work the less you pay, and the more organized, the more savings you keep for yourself.

Original article posted on

Article reposted on Markethive by Jeffrey Sloe

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How Does Inflation Affect Your Savings?

How Does Inflation Affect Your Savings?

September 06, 2018

Many financial experts recommend that you take 10% of your income and deposit it into a savings account. However, the majority of people never know how much they are actually saving. For example, when you deposit the money into your savings account, a dollar buys a loaf of bread, but by the time you withdraw that money, a loaf of bread costs $1.29. This is inflation at work. While you may have received some interest in your savings account, the question is, does it make up for the inflation?

Inflation is Your Enemy

Most people don’t think about or even understand inflation. They simply follow the rules of good money practice by saving and not over-spending. The above illustration showed that you had saved 10% of your income, which is typical of the advice that you will hear growing up. What they don’t tell you is that inflation will eat into your savings. Prices rise over time, wiping out your buying power.

Unfortunately, many people put their money into a savings account that pays a standard interest rate. For example, if you deposit $1,000 in a savings account that pays a 1% interest rate, after a year, you will have $1,010 in your account. Over the same time, if inflation is running at 2%, which, by the way, is the goal of the Federal Reserve, you would need to have a balance of $1,020 to make up for the impact of higher pricing. Since you only have $1,010 in your account, you have actually lost some purchasing power. If your savings don’t grow to reflect the rise of pricing over time, it’s the same as losing money.

You Should Still Save

Because of inflation, saving isn’t as simple as putting money into a savings account. True, you should have some money in a savings account, typically a six-month supply in case of loss of employment or some type of illness. Beyond that, you should then start to look at ways to outpace inflation. Some people do it in a 401(k), while others will do it in an investment account. The whole idea of a 401(k) or retirement account is to outpace inflation over the longer-term. This is why the stock market is a better option than a savings account since, historically, it returns 8% a year. However, that is in the long term, and fluctuations do happen along the way. You also have to pay capital gains tax, which is beyond the scope of this article, but this will also have an effect on how much you can actually pull out of your account. There are a multitude of ways to work around this though.

Multi-tiered Approach

If you wish to beat inflation, and that should be your number one goal, you simply must have a multi-tiered approach to savings. Savings should be thought of as not only cash in the bank, but also investment vehicles. The average financial advisor will suggest stocks, bonds, CDs, real estate, and even a small amount of precious metals, to protect from a falling dollar. By spreading around your savings, you allow for diversification, one of the greatest ways to protect yourself from asset depreciation. For example, if inflation runs at 3% next year, your savings account offering 1% in interest isn’t going to cut it. However, the real estate market might be heating up, and if you own real estate, you may find that you make 10% on your rental property or your home.

This is how savings should work; it should be a mix of cash on hand and investments. If you do not invest, you are sure to have less purchasing power down the road. In fact, most people don’t understand this but when measured in purchasing power, the US dollar has lost almost 98% of its value since 1913!

It Can Be Done

Outpacing inflation isn’t difficult, but it takes a bit of thought. You need to find ways to lower your tax burden, higher interest rates or returns, and the like. While it is necessary to have that emergency cash fund, once you get passed that threshold, you should start looking for ways to make your money work for you. Investing and saving are essentially the same thing, at least in the modern financial world. If your employer has a program that matches your 401(k) contributions, by all means you should max out what you put into it. That is essentially free money for retirement.

Beyond that, start looking for assets that will pay you to own them. Rental properties are a great way to save for retirement. Not only do you have someone else paying for the property through monthly rental payments, but you can also sell the property one day and earn on the sale. Stock market investing is good for the long term, but obviously carries its own risks. The whole idea is you need to start thinking beyond simply stashing cash somewhere and ensure you stay one step ahead of inflation.

Original article posted on

Article reposted on Markethive by Jeffrey Sloe

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