#finances planned

[theambitiouswoman]

Basic Financial Rules To Live By 💰✨

Create a plan that shows how much money you get and how much you spend. This helps you see where your money goes.

Set aside a part of your money as savings. Try to save at least 10-20% of what you earn.

Be careful with borrowing money, especially if you have to pay back a lot of extra money (interest).

Save some money for unexpected things like medical bills or losing your job. Aim to have enough to cover your living costs for a few months.

Put your saved money into different things that can make it grow, like stocks or real estate. Be patient, as it takes time.

Don't spend more money than you make. Stick to buying what you really need, not just what you want.

Decide what you want to do with your money, both in the short term (like a vacation) and long term (like retirement).

Set up automatic transfers to your savings and bills so you don't forget to save or pay your bills on time.

Make saving money a top priority before spending on other things.

Regularly look at your money situation, adjust your plan as needed, and see how your investments are doing.

Pay your bills on time and use credit wisely (like credit cards) to keep a good credit score, which can help you get better deals on loans.

Save money for when you're older and don't work anymore. Use retirement accounts to help with this.

Think before you buy things. Don't buy something just because you want it; think if it's necessary.

Keep learning about how money works and how to make smart money choices.

Only use your emergency fund for real unexpected problems, not for things you just want to buy.

#financial planning #finance #investing #money #girl math #wealth #level up journey #it girl #dream girl #dream girl guide #dream girl tips #dream girl journey #that girl #becoming that girl #educate yourself #wealth mindset #growth mindset #success mindset

[chrisdoeslife]

I had this exact conversation with a friend last week. She had over $3K in a Roth account just SITTING THERE. Not invested in anything. But how would she know?? Nobody ever explained it all to her, they just told her to open a Roth IRA and deposit money every month.

So this is just a reminder to all of you since I often post about financial planning and saving for retirement!!! Make the IRA contributions and then buy assets with that money!

#personal finance #retirement planning #money management

[mostlysignssomeportents]

Private equity ghouls have a new way to steal from their investors

Private equity is quite a racket. PE managers pile up other peoples’ money — pension funds, plutes, other pools of money — and then “invest” it (buying businesses, loading them with debt, cutting wages, lowering quality and setting traps for customers). For this, they get an annual fee — 2% — of the money they manage, and a bonus for any profits they make.

On top of this, private equity bosses get to use the carried interest tax loophole, a scam that lets them treat this ordinary income as a capital gain, so they can pay half the taxes that a working stiff would pay on a regular salary. If you don’t know much about carried interest, you might think it has to do with “interest” on a loan or a deposit, but it’s way weirder. “Carried interest” is a tax regime designed for 16th century sea captains and their “interest” in the cargo they “carried”:

https://pluralistic.net/2021/04/29/writers-must-be-paid/#carried-interest

Private equity is a cancer. Its profits come from buying productive firms, loading them with debt, abusing their suppliers, workers and customers, and driving them into ground, stiffing all of them — and the company’s creditors. The mafia have a name for this. They call it a “bust out”:

https://pluralistic.net/2023/06/02/plunderers/#farben

Private equity destroyed Toys R Us, Sears, Bed, Bath and Beyond, and many more companies beloved of Main Street, bled dry for Wall Street:

https://prospect.org/culture/books/2023-06-02-days-of-plunder-morgenson-rosner-ballou-review/

And they’re coming for more. PE funds are “rolling up” thousands of Boomer-owned business as their owners retire. There’s a good chance that every funeral home, pet groomer and urgent care clinic within an hour’s drive of you is owned by a single PE firm. There’s 2.9m more Boomer-owned businesses going up for sale in the coming years, with 32m employees, and PE is set to buy ’em all:

https://pluralistic.net/2022/12/16/schumpeterian-terrorism/#deliberately-broken

PE funds get their money from “institutional investors.” It shouldn’t surprise you to learn they treat their investors no better than their creditors, nor the customers, employees or suppliers of the businesses they buy.

Pension funds, in particular, are the perennial suckers at the poker table. My parent’s pension fund, the Ontario Teachers’ Fund, are every grifter’s favorite patsy, losing $90m to Sam Bankman-Fried’s cryptocurrency scam:

https://www.otpp.com/en-ca/about-us/news-and-insights/2022/ontario-teachers--statement-on-ftx/

Pension funds are neck-deep in private equity, paying steep fees for shitty returns. Imagine knowing that the reason you can’t afford your apartment anymore is your pension fund gambled with the private equity firm that bought your building and jacked up the rent — and still lost money:

https://pluralistic.net/2020/02/25/pluralistic-your-daily-link-dose-25-feb-2020/

But there’s no depth too low for PE looters to sink to. They’ve found an exciting new way to steal from their investors, a scam called a “continuation fund.” Writing in his latest newsletter, the great Matt Levine breaks it down:

https://news.bloomberglaw.com/mergers-and-acquisitions/matt-levines-money-stuff-buyout-funds-buy-from-themselves

Here’s the deal: say you’re a PE guy who’s raised a $1b fund. That entitles you to a 2% annual “carry” on the fund: $20,000,000/year. But you’ve managed to buy and asset strip so many productive businesses that it’s now worth $5b. Your carry doesn’t go up fivefold. You could sell the company and collect your 20% commission — $800m — but you stop collecting that annual carry.

But what if you do both? Here’s how: you create a “continuation fund” — a fund that buys your old fund’s portfolio. Now you’ve got $5b under management and your carry quintuples, to $100m/year. Levine dryly notes that the FT calls this “a controversial type of transaction”:

https://www.ft.com/content/11549c33-b97d-468b-8990-e6fd64294f85

These deals “look like a pyramid scheme” — one fund flips its assets to another fund, with the same manager running both funds. It’s a way to make the pie bigger, but to decrease the share (in both real and proportional terms) going to the pension funds and other institutional investors who backed the fund.

A PE boss is supposed to be a fiduciary, with a legal requirement to do what’s best for their investors. But when the same PE manager is the buyer and the seller, and when the sale takes place without inviting any outside bidders, how can they possibly resolve their conflict of interest?

They can’t: 42% of continuation fund deals involve a sale at a value lower than the one that the PE fund told their investors the assets were worth. Now, this may sound weird — if a PE boss wants to set a high initial value for their fund in order to maximize their carry, why would they sell its assets to the new fund at a discount?

Here’s Levine’s theory: if you’re a PE guy going back to your investors for money to put in a new fund, you’re more likely to succeed if you can show that their getting a bargain. So you raise $1b, build it up to $5b, and then tell your investors they can buy the new fund for only $3b. Sure, they can get out — and lose big. Or they can take the deal, get the new fund at a 40% discount — and the PE boss gets $60m/year for the next ten years, instead of the $20m they were getting before the continuation fund deal.

PE is devouring the productive economy and making the world’s richest people even richer. The one bright light? The FTC and DoJ Antitrust Division just published new merger guidelines that would make the PE acquire/debt-load/asset-strip model illegal:

https://www.ftc.gov/news-events/news/press-releases/2023/07/ftc-doj-seek-comment-draft-merger-guidelines

The bad news is that some sneaky fuck just slipped a 20% FTC budget cut — $50m/year — into the new appropriations bill:

https://twitter.com/matthewstoller/status/1681830706488438785

They’re scared, and they’re fighting dirty.

I’m at San Diego Comic-Con!

Today (Jul 20) 16h: Signing, Tor Books booth #2802 (free advance copies of The Lost Cause — Nov 2023 — to the first 50 people!)

Tomorrow (Jul 21):

1030h: Wish They All Could be CA MCs, room 24ABC (panel)

12h: Signing, AA09

Sat, Jul 22 15h: The Worlds We Return To, room 23ABC (panel)

If you’d like an essay-formatted version of this post to read or share, here’s a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/07/20/continuation-fraud/#buyout-groups

[Image ID: An old Punch editorial cartoon depicting a bank-robber sticking up a group of businesspeople and workers. He wears a bandanna emblazoned with dollar-signs and a top-hat.]

#pluralistic #buyout groups #continuation fraud #pe #pyramid schemes #the sucker at the table #pension plans #continuation funds #matt levine #fiduciaries #finance #private equity #mark to market #ripoffs

[collegetennisoriginstory]

do you still think that you would do a sequel for college tennis?

I have so many ideas for IFs I want to write that I'm leaving for after CT:OS and Merry Crisis are done... but a sequel for CT:OS where they're all adults and MC's trying to rise through the ranks as a professional tennis player is definitely on my bucket list for life.

It all depends on whether I actually eventually make the jump to writing (officially) part time or full time (which depends on whether I think I could make it work financially), in terms of how quickly I can complete games/stories...

But tldr; I'd love to, the when and "definiteness" of it though... I couldn't say until I have a better idea of what I'm doing with my life around 2 years down the road (I've arbitrarily set this as a deadline because I think by then I'd have saved up a bit to go on at least a 1-year hiatus from my full time job, and have a good enougb gauge of the viability of supporting myself through various channels!)

#ct:os #college tennis: origin story #if #interactive fiction #asks #about author #future plans #development plans #finances

[noballoonsinspace]

Can’t stand when people go “its just not in the budget” when they’re the ones that wrote the damn budget in the first place. Just say it wasn’t a priority to you. Just say that. Take responsibility.

#like when you plan an event and you say disability accommodation just didn’t fit in the budget #just say you’re not prioritizing inclusivity and accessibility. just say you don’t care about disabled people. be real about it ffs #ableism #anti ableism #accountability #transparency #finance #accessibility #disability accommodations #disability advocacy

[goshyesvintageads]

General Motors Acceptance Corp, 1956

#GMAC #ad #1956 #vintage #advertisement #automobile financing #thrifty terms #car loan #baby #birthday ca #e #1950s #retro #finance plan #advertising

[backfromtwitterforw]

There's legal silence where you keep sensitive information to yourself. And there's silence where you don't even say "please be patient we'll update you in time, we're actually talking to the union/the admins/the intern team". For us viewers, we don't need to know more than to have the assurance that things are being taking care of. We don't need to be repeated the exact same info I différent words over and over again.

There's silence with your team where you want to be careful with your wording. And there's silence with your team where you keep them completely in the dark about their future, not even saying what they just need to hear: "sorry about how things turned out, we have no certainty in either taking you back or not, right now our priority is financial stability, we cannot tell you our différent options so far, but we'll update you when and if we can afford to take you back".

There's silence where you ask for discretion because you will not be able to keep that many people in the team and don't want leaks about what branches are kept and which one will close, then announcing to a whole group of admins that they'll be let out of the project starting this or this day. And there's silence where you warn a lot of twitter update admins that they won't be in the project starting immediately through discord and closing said discours before everyone had even a chance to read it.

There's silence where you're afraid of leaks and there's silence where you don't treat people working for you with respect.

#qsmp admins #qsmp neg #quackity studios #quackity neg #im sorry but at this pount donr even bother making an annoucement #if all you wanna do is repeat yourslef #look we KNOW youre working on finances and cant make promises about the eggs #but we've been asking about the merch money and being transparant about that wont hurt legally #unless you plan about telling us one thing to please us and doing another once we bought them #we KNOW some people might use every thing to harm the project #we ask if you or your team are actually talking to the people concerned #we KNOW you dont want leaks #we ask to be sure you treat the people who dedicated so much to your dream project as allies and not as enemies #i trusted q at first #but if he just wants to repeat homself and not acknowledge anything then i cant trust him no more #qsmp you have been a winderful adventure but it stops here for me

[pummelingbat]

forgot that theres P*RN in this comic now i gotta find a printing service that's ok with gay sex 😭😭

#txt #THESE LITTLE TRAPS WE SET FOR OURSELVES #fully waited until 2 days before i planned on putting in the order to check the n/s/f/w policy. why why why. #what i need is to invest in an inkjet printer myself. but... oh..... . . . finances .. . . . . . . . .

[theambitiouswoman]

Wealth Building: What Rich People Do Differently

Wealthy people prioritize learning about personal finance, investing, and wealth building strategies. They always strive to gain more knowledge in these areas.

They maintain a long term perspective when setting financial goals and are patient in their pursuits.

Wealthy people diversify their investments across various asset classes to manage their risk.

Many of them are entrepreneurs who create and manage businesses as a means to build wealth.

They build and nurture professional networks opens doors to opportunities for investments, partnerships, and business growth.

They set clear, specific financial goals and regularly review and adjust their strategies to stay on track.

Wealthy individuals exercise discipline in their spending habits, avoiding impulse purchases and consistently saving and investing.

They assess and manage investment risks carefully, often with the guidance of financial advisors.

Many engage in philanthropy and charitable giving, recognizing the importance of supporting their communities and causes they care about.

Wealthy people invest in their personal development, acquiring new skills and knowledge to increase their earning potential or make better investment decisions.

They use legal tax strategies to minimize tax liabilities, such as tax advantaged accounts and tax efficient investments.

Legal structures like trusts and estate planning are employed to safeguard assets and facilitate smooth wealth transfer.

Wealthy people can adapt to changing economic conditions and market trends by diversifying income sources and investments.

Building wealth often involves overcoming setbacks and failures, and the wealthy demonstrates the result of persistence in their pursuit of financial success.

They have a positive and growth oriented mindset drives their belief in their ability to succeed and willingness to take calculated risks.

They prioritize acquiring and growing assets, emphasizing that assets generate income and wealth over time.

They are cautious about spending in liabilities (Things that do not make you money) and maximize their assets (add value) and those that detract from wealth (liabilities).

Instead of working solely for money, they make money work for them.

When they indulge in luxury purchases, they do so using returns on their investments rather than the money they earn or have saved.

#finance #investment #financial planning #investing #entrepreneur #girl math #generationalwealth #rich #success mindset #wealth

[bitchesgetriches]

NEW POST!

You Need to Talk to Your Parents About Their Retirement Plan

You don’t want to find yourself financially preparing for your own retirement years only to find without warning that you suddenly have two aging dependents to account for in your annual budget. So take steps now to make sure it doesn’t happen.

KEEP READING.

If this helped you out, join our Patreon!

#retirement #retirement plan #retirement planning #retirement fund #parents #family #personal finance #financial literacy #old people

[lupato]

i've been rotating the idea of hosting a f/f toku zine would anyone perhaps be interested in helping me mod that..

#plan is for it to be free digital so i wouldnt need finance/shipping #might be too much hassle for me but ! been thinking about it.. #might throw together an interest check later this week #✉️

[separatist-apologist]

“real eluciens” would read anything you write for the ship (like me 😇) because you are our queen and i want to read elucien in everyyy scenario ever toxic or not !

Do you think there is like, a board of directors? What are the term limits, I'm gonna apply next year

#i sit on an actual board and they hate me there #because one time i went around to all the weakest links in the meeting #and convinced them to keep the current health insurance plan #so the finance dudes hate me because it was expensive but idk #i guess maybe we shouldnt balance our budget on the back of employees??? #thats the energy im bringing to the elucien board of directors meeting too #eluciens get to keep their health insurance

[awesomecooperlove]

🌪️💨🌬️

#man made #hurricanes #tornadoes #floods #droughts #destruction #storms #ice storms #earthquakes #fires #all planned #financed and organised crimes against humanity wildlife animals and Mother Earth #dirty games #corruption #extortion #devastation #climate change #global warming #global FEAR warning #be ware #danger #know your enemy #learn truth #environment #environmentalists #weather control #weather modification #poisoning humanity #chemtrails #speak up

[femmefatalevibe]

I want to FIRE! Do you have any tips for that ;)

Hi love! While I'm not committed to their FIRE movement per se, here are some of my best tips to set yourself up for financial success:

Diligently keep track of your income and expenses. Audit every week or month to give yourself an honest look at your financial activity

Create financial goals and a realistic budget to help you achieve them

Prioritize saving up a 6-month emergency fund, maxing out your Roth IRA (or backdoor Roth IRA) and HSA account (if in the U.S.)

Purchase high-quality, timeless items that are built to last; It's cheaper in the long run to maintain items vs. constantly repurchasing items if you have the option

Create multiple sources of income: A 9-5 job, investments, side hustle, digital products, etc. Find ways to monetize activities you would enjoy doing without earning a dime

Focus on building a strong network and high-value, transferable skills: Even if you plan on working as an employee forever (no shame in that – it's a great way to get a steady paycheck), always strategize your career in a way that would leave you equipped to make it on your own. You need to be in the driver's seat of your career and financial life at all times

Make food at home, take care of your health, and take advantage of preventative medical testing, screenings, and procedures. Losing your health (physical and mental) is the easiest way to ruin your life satisfaction and your finances

Hope this helps xx

#finance #moneymindset #financial planning #savings tips #personal investments #female entrepreneurs #femme fatale #dark femininity #dark feminine energy #successhabits #success mindset #goal setting #it girl #queen energy #dream girl #female excellence #female power #femmefatalevibe #fire movement

[capitalism-and-analytics]

#Finance #Business #Work Meme #Work Humor #Excel #Hilarious #funny meme #funny #accounting #office humor #consulting #capitalism #socialism #dark humor #politics #anticapitalism #planned parenthood #anti abortion #abortion #pro life #pro choice

[boxofbonesfic]

paying and making reservations for your own birthday dinner 🥲🥹

#i know hubs would buy me something nice if he could #i love him sm and i don’t blame him #our finances are so shitty right now #but i still feel… bad? like is it selfish to want people to plan stuff bc they love me and want to spend time with me? idk #i’m probably being an asshole