Working money – Angil http://angil.org/ Tue, 21 Sep 2021 16:25:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://angil.org/wp-content/uploads/2021/06/icon-2021-06-29T195041.460-150x150.png Working money – Angil http://angil.org/ 32 32 Evergrande wooed retail investors with Gucci bags and Dyson devices https://angil.org/evergrande-wooed-retail-investors-with-gucci-bags-and-dyson-devices/ https://angil.org/evergrande-wooed-retail-investors-with-gucci-bags-and-dyson-devices/#respond Tue, 21 Sep 2021 16:25:00 +0000 https://angil.org/evergrande-wooed-retail-investors-with-gucci-bags-and-dyson-devices/ Cranes stand next to unfinished residential buildings at Evergrande Oasis, a real estate complex developed by Evergrande Group, in Luoyang, China, September 15, 2021. REUTERS / Carlos Garcia Rawlins / File Photo SHANGHAI, Sept.21 (Reuters) – Lured by the promise of yields of around 12%, freebies such as Dyson air purifiers and Gucci bags, and […]]]>

Cranes stand next to unfinished residential buildings at Evergrande Oasis, a real estate complex developed by Evergrande Group, in Luoyang, China, September 15, 2021. REUTERS / Carlos Garcia Rawlins / File Photo

SHANGHAI, Sept.21 (Reuters) – Lured by the promise of yields of around 12%, freebies such as Dyson air purifiers and Gucci bags, and the guarantee of China’s top-selling developer, tens of thousands of investors bought wealth management products through China Evergrande Grouper.

Today, many fear they will never get their investments back after the cash-strapped real estate developer recently stopped paying off some investors and raised the global alarm bells over his massive debt.

Some protested at Evergrande’s offices, refusing to agree to the company’s plan to provide payments with discounted apartments, offices, shops and parking lots, which it began implementing on Saturday. .

“I bought from property managers after seeing the ad in the elevator because I trusted Evergrande to be a Fortune Global 500 company,” said the owner of an Evergrande property in the home province of conglomerate, Guangdong, nicknamed Du.

“It is immoral that Evergrande does not repay my hard-earned money,” said the investor, who last year invested 650,000 yuan ($ 100,533) in the wealth management products (WMP) of Evergrande at an interest rate of over 7%.

More than 80,000 people – including employees, their families and friends as well as owners of Evergrande properties – have bought WMPs that have raised more than 100 billion yuan in the past five years, a sales manager said. Evergrande Wealth, launched in 2016 as a peer-to-peer (P2) online lending platform that was originally used to finance its real estate projects.

Some 40 billion yuan of investments are underway, said the person, declining to be named because he was not authorized to speak with the media.

China Evergrande did not respond to a request for comment on Tuesday, which was a public holiday in China.

With over $ 300 billion in debt, Evergrande’s liquidity crisis rocked global markets this week. The company has pledged to reimburse the investors of WMP.

CHRISTMAS PROMOTION

China’s decades-long efforts to deleverage its economy have prompted companies to resort to off-balance sheet investments in search of finance.

After Beijing further capped real estate developers’ debt levels last year, the most indebted players like Evergrande felt even more pressure to find new sources of capital to alleviate growing liquidity stress. turning to employees, suppliers and customers to get money through commercial paper, trust and wealth. management products.

Evergrande Wealth began selling WMPs to individuals in 2019 after a regulatory crackdown caused the P2P lending industry to collapse, said the sales manager and another Evergrande employee who bought the WMPs.

To attract investors, the sales manager gave gifts such as Dyson air purifiers and Gucci handbags to everyone who bought more than 3 million yuan from WMP in a Christmas year promotion. last.

A product brochure provided by the sales manager seen by Reuters showed that WMPs are categorized as fixed income products suitable for “conservative investors looking for stable returns.”

‘PRODUCTS OF FACTO EVERGRANDE’

In two products sold last November, a Qingdao construction company was looking to raise up to 10 million yuan with an annualized return of 7% in one and 20 million yuan with returns ranging from 7.8% to 9, 5%, depending on the size of the investment, into another. The minimum investments were 100,000 yuan and 300,000 yuan, respectively.

Evergrande also typically offers an additional return of up to 1.8% to some investors, which can push returns above 11% for a 12-month investment, the sales manager said.

The proceeds were to be used for working capital for Qingdao Lvye International Construction Co, according to the documents. The company could not be reached for comment on a holiday.

The repayment would come either from the income of the issuer or from Evergrande Internet Information Service (Shenzhen) Co, a subsidiary that manages Evergrande Wealth and promises to cover principal and interest if an issuer does not repay, according to the prospectus.

The sales manager said the Qingdao-based company is working on Evergrande projects and will use the payment from Evergrande when completed to reimburse investors.

“It’s a de facto Evergrande product,” the person said.

Other highly leveraged Chinese conglomerates, including HNA Group, which filed for bankruptcy earlier this year, and China Baoneng have used similar products.

In a petition to various government agencies, a group of WMP investors in Guangdong accused Evergrande of improperly using money that should have gone to issuers to fund its own projects, and of not disclosing enough the risks.

They also complained that they were misled by the stature of its president, Hui Ka-yan, noting that he was seated prominently at a celebration in 2019 of the 70th anniversary of the founding of the People’s Republic. from China.

“Investors trusted Evergrande and bought Evergrande WMPs out of love and faith in the Party and the government,” they wrote.

($ 1 = 6.4655 yuan Chinese renminbi)

Reporting by Zhang Yan and Tony Munroe, with additional reporting by Samuel Shen, Jason Xue and Clare Jim Editing by Shri Navaratnam

Our standards: Thomson Reuters Trust Principles.


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Fed Funds bring Camden Water Trail closer https://angil.org/fed-funds-bring-camden-water-trail-closer/ https://angil.org/fed-funds-bring-camden-water-trail-closer/#respond Tue, 21 Sep 2021 04:25:14 +0000 https://angil.org/fed-funds-bring-camden-water-trail-closer/ Credit: dsearls via Creative Commons under CC BY 2.0Aerial view of the Delaware River flowing around Petty’s Island, which will be part of the planned water trail in Camden. Plans for a water trail in Camden were strengthened on Monday with the announcement of new federal funding of $ 500,000 to help the project become […]]]>
Credit: dsearls via Creative Commons under CC BY 2.0
Aerial view of the Delaware River flowing around Petty’s Island, which will be part of the planned water trail in Camden.

Plans for a water trail in Camden were strengthened on Monday with the announcement of new federal funding of $ 500,000 to help the project become a reality.

The grant was part of $ 11.5 million from two funds administered by the National Fish & Wildlife Foundation to more than 40 local groups in New Jersey, New York, Pennsylvania and Delaware working to improve the natural environment in the Delaware River basin.

In Camden, the new money is speeding up the completion of the planned 13-mile trail that will allow kayakers, canoeists and small powerboats to navigate the Delaware and Cooper Rivers, through dense urban neighborhoods and long-neglected natural sites.

The idea of ​​the aquatic trail, said Don Baugh, president of the Upstream Alliance – the nonprofit that received the money – is to reconnect residents of one of America’s poorest cities with the rivers which surround them, and which represent a largely inaccessible recreational asset.

“A city of water”

“Camden is truly a water town but it’s been walled off by pollution, and it’s an opportunity to connect people to its most vital open space,” Baugh said after a press conference to announce the global funding. . “Its waterways just haven’t been there for them, but now they can be there for them, and I think it will be a transformation for the town of Camden and surrounding areas.”

In a city of 74,000 inhabitants where the median household income was $ 27,000 from 2015 to 2019, according to the United States Census BureauWater Trail advocates also hope to remedy centuries of environmental injustice that have subjected a predominantly black and Hispanic population to severe pollution, and effectively denied them access to the river and its surrounding natural environment. .

“Camden is an underserved city that hasn’t had the opportunities that other cities across the country have had,” Baugh said. “This is an opportunity to correct decades of injustice. “

In the tidal section of the Cooper River south of the Kaighn Avenue Dam, the trail will allow users to paddle or drive their boats between the dam and a Camden County Parks Department wharf near Cherry Hill. North of the dam, users will be able to travel the tidal section of the Cooper River, in the back channel of the Delaware River, and tour Petty’s Island, a former oil terminal now nesting bald eagles and is being converted. in a nature reserve.

Trail users who wish to travel between the two sections will initially need to haul their boats over the dam, but supporters eventually hope to create a channel that will allow them to float past the dam, as well as build a ladder for fish passage. .

The idea for the water trail has been in the works for five years but previously lacked funding to be implemented, he said. “This investment will allow him to go from dream to reality,” said Baugh.

The new federal money will be used to pay for the signs and hire eight people: four paddling guides, a fishing instructor, two outreach workers and a seasonal coordinator. The trail is expected to open in about two years.

The overall cost of the trail will be around $ 1.5 million, with $ 750,000 coming from Camden County, Baugh said. The county’s money includes $ 400,000 to build four new access points. The remaining matching funds come primarily from the William Penn Foundation, which has provided approximately $ 360,000.

40+ ongoing projects

The Water Trail is one of 41 projects across the watershed funded by the latest grants. With $ 13.5 million in matching funds coming from beneficiaries, the total new spending on conservation projects will amount to some $ 25 million, officials said.

Grants were awarded through two programs managed by the foundation: the Delaware Watershed Conservation Fund (DWCF), funded by the US Fish & Wildlife Service, and the Delaware River Restoration Fund (DRRF), funded by the William Penn Foundation .

In New Jersey, 11 other projects were funded by the conservation fund. They include $ 560,000 to the American Littoral Society for the restoration of Kimbles Beach, an important site for shorebirds and horseshoe crabs in Cape May County, and $ 362,000 to the Musconetcong Watershed Association to create a map in line that links conservation with leisure.

Four other New Jersey projects were funded by the restoration fund. They include $ 220,000 to Rutgers University to implement ecological stormwater improvements in the Upper Salem Valley watershed, and $ 275,000 to the South Jersey Land and Water Trust to install green water infrastructure. and habitat restoration in the Alloway and Muddy Run watersheds.

In other basin states, new funds include $ 179,500 for the removal of a dam on a creek in Delaware, $ 255,000 to improve the water quality of the Schuylkill River in Pennsylvania by implementing best farm management practices and $ 75,000 to improve trout habitat on a New York State river.

The DWCF, which funded the Camden Water Trail, is designed to meet the conservation goals of the federal Delaware River Basin Conservation Act of 2016, which directs the US Fish & Wildlife Service to coordinate the conservation activities of local groups in The Pelvis.

Overall, the projects will improve land management on approximately 12,000 acres; using agricultural conservation to treat polluted runoff on more than 900 acres; plant 585 acres of wetlands and establish public access to some 1,500 acres, officials said.

“The projects and partnerships supported by these grants will conserve and maintain these lands and waters, and the people and wildlife that depend on them, for generations to come,” said Wendi Weber, Director of the North Atlantic-Appalachian Division. for the United States Fish and Wildlife Service.

The William Penn Foundation is a major funder of NJ Spotlight News.


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How the widow’s penalty tax hurts your retirement security https://angil.org/how-the-widows-penalty-tax-hurts-your-retirement-security/ https://angil.org/how-the-widows-penalty-tax-hurts-your-retirement-security/#respond Mon, 20 Sep 2021 17:00:00 +0000 https://angil.org/how-the-widows-penalty-tax-hurts-your-retirement-security/ The widow penalty could alter your retirement plans and threaten the security of your … [+] retirement income. getty I recently attended a celebration of the life of a good friend who passed away. It got me thinking about widow’s grief and what it means for the surviving spouse, beyond the nightmare of losing a […]]]>

I recently attended a celebration of the life of a good friend who passed away. It got me thinking about widow’s grief and what it means for the surviving spouse, beyond the nightmare of losing a spouse and mate, of course.

It is common for spouses to leave their savings to each other. Yes, there are more advanced estate planning techniques that can split the money between widow / widower, children, foundations, charities, etc. Yet these strategies are mainly used by the very wealthy trying to avoid being affected by estate tax. Even in these cases, the surviving spouse usually has enough money / income to live a comfortable retirement.

Beyond the loss of company upon the death of a spouse, there can also be financial and tax consequences. This is often described as the widow’s punishment. Sorry guys, at least stereotypically guys die first. As a fan of Golden girls, it was a show about three widows and a divorcee who often wished her ex-husband was dead.

For clarity, I will use the term widow for the surviving spouse. But the situation here is the same if we are talking about a widower. Likewise, nothing changes if we are talking about gay married couples or lesbian married couples in which one spouse has died.

You are probably wondering what is the widow’s sentence? If she inherits all of the household assets, that should be fine, right? In some cases, surviving spouses may end up with more assets or even a higher base cost in assets they already owned (i.e., receiving the proceeds from life insurance) . In addition, if they own the family home, they will receive a cost increase on half of the deceased’s home. Likewise, the widow can benefit from a base mark-up on highly valued stocks and bonds. These things could make the home and investments more valuable if they have to be sold.

Other sources of income may disappear, for example social security. The household would go from two checks to one. Fortunately, the surviving spouse can continue to receive the larger of the two Social Security benefits. Also, if there is pension or annuity income based on a single lifetime, that income will likely disappear.

Example of a widow’s penalty in action

Consider my clients Jim and George. They had a dream retirement with a combined income of over $ 350,000 per year and several homes. Life was good. Then George fell ill and died. Jim inherited all of George’s assets. They both had substantial incomes throughout their careers, but George’s death meant Jim would lose over $ 42,000 a year in Social Security benefits. Adjustments could and should be made to compensate for this loss of social security benefits.

The widow’s nut penalty kick came later when Jim first filed taxes as the sole filer. Suddenly, he was going to have to pay more taxes on a lower income. The problem was magnified because Jim is a resident of a high tax state, California. Its federal income tax rate has increased, as has its state income tax bracket.

Jim and George funded their retirement income with a combination of taxable withdrawals from a traditional IRA, non-taxable Roth IRA distributions, two Social Security benefits, and income from investment accounts taxed as capital gains. Some of their taxable income has been pushed into higher tax brackets, and more of their income has fallen into their current highest tax bracket at the federal and state levels. They also saw a large Obamacare surcharge of 3.8% on investment income when filing as a single person. Now Jim will have a smaller standard deduction as a widower than when George was alive.

The good news is, they’ve planned a financially secure retirement. Jim will get by and adjust his expenses to reflect his new high bills and reduced income. Many retirees will not have this luxury. Some expenses will disappear or become cheaper with the death of a spouse, things like cell phone plans, medical insurance and care, and even car payments. Other expenses are the same regardless of the number of people in your household, such as cable, mortgage, property taxes and, for the most part, utilities.

While Jim and George spent decades investing to fund a retirement income they wouldn’t survive, they never thought about the widow’s penalty until they started working with me as a financial planner. The widow’s penalty is problematic now, but could increase if tax rates increase in the future. While I don’t claim to know exactly what the tax brackets will look like 20 years from now, I would be surprised if they weren’t considerably higher than they are today. Fortunately for Jim (and George), they had income with diversified taxation (taxable, pre-tax, Social Security (which has favorable taxation), and capital gains), which partially alleviated the widow’s sentence for Jim. If their income came 100% from taxable accounts, the widow’s penalty would have been much more painful.

The widow’s sentence: beyond taxes

There is another way widows are often penalized when their spouse goes through – MEDICAL BILLS. When your spouse is sick or needs Long term care, you are probably not thinking about your monthly budget. End-of-life care can undermine retirement savings and can even leave the surviving spouse with a pile of medical debt or depleted savings due to long-term care costs. Few households have enough money to pay for long-term care for a spouse, let alone two. In scenarios like this, the widow’s penalty can be severe, a loss of income sources, a small nest egg to generate retirement income, and higher taxes on the remaining income.

MORE FORBES5 biggest social security mistakes to avoid in 2021

Qualified widow exemption

There is a small exemption to avoid the widow’s penalty for two to three years. This exemption only applies if you have a dependent child living with you. So, I’m going to say this won’t apply to most retirees, although there is an exception. As a gay financial planner, I work with many gay couples who have children later in life. In some cases, they retire, but their children have not yet left the house.

A qualified widow or widower is a specific tax status that allows the surviving spouse to use the joint declaration of spouse tax status for up to two years after the death of the spouse. This is in addition to the year of death, during which the surviving spouse can potentially still use the status of jointly filing spouse.

If you find yourself widowed or widowed, do yourself a favor and be proactive about any financial changes that may be required, such as adjustments to your taxes and changes to your retirement income withdrawal strategies. Likewise, don’t forget to update your beneficiaries and update your life insurance and long-term care coverages.


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UK ‘Baby Shortage’ Could Lead to Economic Decline, Think Tank Says | Childcare https://angil.org/uk-baby-shortage-could-lead-to-economic-decline-think-tank-says-childcare/ https://angil.org/uk-baby-shortage-could-lead-to-economic-decline-think-tank-says-childcare/#respond Mon, 20 Sep 2021 05:01:00 +0000 https://angil.org/uk-baby-shortage-could-lead-to-economic-decline-think-tank-says-childcare/ Britain faces a “baby shortage” that could lead to “long-term economic stagnation,” a think tank said. The Social market foundation (SMF) said the birth rate was almost half of what it was at its post-war heyday in the 1960s, and the country’s aging population could lead to economic decline. He said ministers should set up […]]]>

Britain faces a “baby shortage” that could lead to “long-term economic stagnation,” a think tank said.

The Social market foundation (SMF) said the birth rate was almost half of what it was at its post-war heyday in the 1960s, and the country’s aging population could lead to economic decline.

He said ministers should set up an intergovernmental task force to examine the issue, and that a useful measure could be better childcare provision. The think tank said typical British working parents spend 22% of their income on full-time childcare, more than double the average for Western economies.

The birth rate in England and Wales peaked in 1964 when the number of children per woman averaged 2.93. Last year it was 1.58, well below the replacement level of 2.1 needed to keep the population rate stable, and in Scotland it was even lower at 1.29.

In a report, Baby Bust and Baby Boom: Examining the Liberal Case for Pronatalism, the SMF said this would ultimately lead to a shortage of working-age adults.

“Natalism” is the policy or practice of encouraging childbearing, especially through government support for a higher birth rate.

“Right now there are just under three over 65s for every 10 workers, but by the middle of the next decade that ratio will drop to 3.5, and by the 2060s the number will approach four, “the report said. .

“According to these projections, by 2050 a quarter of Britons will be over 65, compared to a fifth today.

“This combination of a lower share of the labor force and a higher share in need of economic support clearly has a negative effect on the productive capacity of the economy.”

The report states that 28% of countries in the world specifically adopt birth rate policies to increase the birth rate. In some countries these may take the form of direct payments to parents, such as in France, where there is a ‘birth allowance’ worth € 950 (£ 810).

The report recommends the creation of an inter-ministerial working group to ensure that when policies are set, ministers take into account the impact they could have on population growth.

Dr Aveek Bhattacharya, chief economist of SMF and one of the authors of the report, said: “The question of whether the government should step in to try to increase the birth rate is clearly a sensitive subject that needs to be addressed. treated with delicacy.

“However, given the alarming drop in fertility rates and the risks that an aging population poses to our social and economic well-being, this is a discussion we should not shy away from.”


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Pandemic fuels financial crime, Central Bank of UAE says https://angil.org/pandemic-fuels-financial-crime-central-bank-of-uae-says/ https://angil.org/pandemic-fuels-financial-crime-central-bank-of-uae-says/#respond Sun, 19 Sep 2021 14:27:42 +0000 https://angil.org/pandemic-fuels-financial-crime-central-bank-of-uae-says/ The Covid-19 pandemic, which rocked financial markets and triggered economic chaos last year, has increased the risk of money laundering and terrorist financing, fraud, cyber attacks, bribes and corruption throughout the financial system, according to the UAE Central Bank. The abuse of e-commerce services to commit fraud, the use of virtual currencies for money laundering, […]]]>

The Covid-19 pandemic, which rocked financial markets and triggered economic chaos last year, has increased the risk of money laundering and terrorist financing, fraud, cyber attacks, bribes and corruption throughout the financial system, according to the UAE Central Bank.

The abuse of e-commerce services to commit fraud, the use of virtual currencies for money laundering, corporate fraud schemes, an increase in the number of unlicensed money service providers and related scams. charity and disaster are some of the trends that emerged during the pandemic, the regulator said in Typologies in the financial sector, a report released on Sunday.

The banking regulator has selected several financial institutions to observe certain activities in the market and asked them to actively engage with the authorities.

The risks arising from the identified typologies are added to the risks of crimes linked to money laundering and the financing of terrorism. These have already been described in the UAE’s national risk assessment and are “likely prevalent throughout the financial sector,” the central bank said in a separate statement.

“This report is part of our ongoing efforts to tackle specific money laundering and terrorist financing trends and typologies emerging from the Covid-19 pandemic in the financial sector,” said the Governor of the Central Bank, Khaled Balama.

“Although these risks are still in the early stages of identification, the CBUAE, alongside the relevant supervisory authorities, has published this report as a key reference on the typologies and indicators related to the pandemic to financial institutions, so that they stay on top of and be able to mitigate these emerging risks, which ultimately help preserve the integrity of the UAE’s financial system. ”

The Pandemic Typologies Report was prepared by the Supervisory Authorities Subcommittee, which is chaired by the Central Bank and includes Abu Dhabi Global Market, Dubai Financial Services Authority, Executive Office for Combating money laundering and terrorist financing (AML / CFT) and the United Arab Emirates Financial Intelligence Unit (FIU).

The United Arab Emirates have put in place strict measures to combat money laundering and this year created an agency dedicated to identifying those responsible and those suspected of financing terrorists and organized crime. The Central Bank also regularly issues guidelines on how financial institutions can assess money laundering risks.

In July, the banking regulator published guidelines governing the implementation of AML / CFT-related sanctions. In August, he issued instructions to hawala providers registered in the UAE and financial institutions that provide services to them.

Earlier this month, the Central Bank asked financial institutions, including lenders, to develop internal policies, controls and procedures to manage money laundering risks.

The typology report will help financial institutions identify risks associated with Covid and implement effective mitigation methods to keep the financial system healthy, the Central Bank said.

Among the risks identified by the report is a likely increase in the use of professional money laundering services. These use a variety of methods, including those that do not require the physical movement of cash or goods.

“Criminals who previously relied on self-executed money laundering programs can now seek help from PML,” the report said.

Widespread lockdowns have resulted in a significant increase in e-commerce. Due to the limited ability of people to move funds and property during the pandemic, “illicit actors are turning to e-commerce as a tool for money laundering,” according to the report.

Criminals can use fake digital storefronts that look like legitimate merchants. They can also use “intermediary companies” or “transaction laundering” – illicit businesses using a legitimate merchant’s platform to process illicit payments.

“This is called ‘money laundering in the digital age’, which is extremely difficult for financial institutions to detect,” the report adds.

The Central Bank said the number of “money dumb” used to launder ill-gotten funds has also increased, which is a direct result of the financial distress.

The use of virtual currencies may also intensify during the Covid-19 pandemic, as criminals who illegally earn virtual currencies would ultimately seek ways to convert third-party products into cash or other assets.

Other Covid risks include increased and unexplained cross-border cash flows to high-risk jurisdictions, terrorist organizations seeking to raise funds under the guise of Covid-related relief activities, online exploitation of impoverished communities or in financial difficulty and forced labor.

This report is part of our ongoing efforts to tackle specific money laundering and terrorist financing trends and typologies emerging from the Covid-19 pandemic in the financial sector.

Khaled Balama, Governor, CBUAE

“The citizenship-by-investment programs offered by countries in the Caribbean region present potential financial crime risks to financial sectors in the UAE,” the report said.

“Although CBI programs can be pursued for legitimate purposes, in particular visa-free access to the EU, UK and other countries, CBI programs present risks of corruption, punishment, money laundering and tax evasion. “

Growing reliance on remote working technology and models has also exposed digital vulnerabilities, as phishing attacks, hacking, malware intrusions, and fraud resulting from potential breaches of information containing information. personal data is increasing.

“This is an important factor to consider when documents containing confidential customer and / or financial information are shared among staff through a distributed working environment,” the report said.

“Organizations need to prepare for potential business disruptions and proactively assess their cyber hygiene practices followed by their remote workforce, enterprise wide. “

Updated: September 19, 2021, 2:34 PM


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Helena welcomes Fall Drag Car Race https://angil.org/helena-welcomes-fall-drag-car-race/ https://angil.org/helena-welcomes-fall-drag-car-race/#respond Sat, 18 Sep 2021 23:25:07 +0000 https://angil.org/helena-welcomes-fall-drag-car-race/ HELENA – “We’ve been doing summer drag races for 16 years now and thought it was time for more events in Helena,” said Chad Wenger, President of the Helena Valley Timing Association. Wenger says this Fall Drag Car Race will be used as a scholarship for those who wish to further their education in the […]]]>

HELENA – “We’ve been doing summer drag races for 16 years now and thought it was time for more events in Helena,” said Chad Wenger, President of the Helena Valley Timing Association.

Wenger says this Fall Drag Car Race will be used as a scholarship for those who wish to further their education in the automotive field.

“Our big thing for that: all the money goes into our scholarship fund for students in the automotive trades. So it’s a lot of work to make this event happen, but it’s fun to see everyone here having a great day, ”said Wenger.

Wenger says it’s events like this that make him proud of the job he does.

“It’s great to help the children. It’s hard to go to college. It’s not a cheap thing, so we are working hard to try to do fun events and raise a lot of money so that they can keep going to school and keep working in the trades, ”said Wenger.

A runner from Ronan says he’s continuing his father’s racing legacy.

“I started at 16. My parents did it, ”said Joe Torgs, a drag racer.

Torgs even raced on Street Outlaws last week and says he loves being able to use the same truck his dad raced in.

“I always pat the dash and say, ‘Come on daddy, we gotta do this’, and it was good to keep the truck running, I know he’s with me so that’s what we do. and it keeps me going, ”Torgs said.


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Opinion: Auburn provost on the power of the right money at the right time https://angil.org/opinion-auburn-provost-on-the-power-of-the-right-money-at-the-right-time/ https://angil.org/opinion-auburn-provost-on-the-power-of-the-right-money-at-the-right-time/#respond Sat, 18 Sep 2021 12:00:00 +0000 https://angil.org/opinion-auburn-provost-on-the-power-of-the-right-money-at-the-right-time/ Auburn is on the rise. We have grown in size and academic rigor. Now a competitive R1 national research university, we attract the brightest students, raise our visibility and accelerate our impact on the world. But there is one thing that is holding us back. We are losing some of the best students because they […]]]>

Auburn is on the rise. We have grown in size and academic rigor. Now a competitive R1 national research university, we attract the brightest students, raise our visibility and accelerate our impact on the world. But there is one thing that is holding us back.

We are losing some of the best students because they cannot afford to be here.

Earlier this week, the university launched an unprecedented scholarship and financial aid initiative that will make the Auburn experience accessible to students who have the intellect, motivation and desire, but perhaps not the means, to attend. Never Auburn is designed to make the dream of an Auburn education possible and in so doing, position our institution for a stronger future.

This initiative is deeply personal to me. While many people know that I am a first generation college graduate, few know that I am also a first generation high school graduate. Unless you’ve personally experienced it, it’s hard to describe what it’s like to be one of these students.

I was fortunate that generous people helped me go to college and finish my youth. At one point when I was in college, I ran out of funds and didn’t know how I was going to finish the semester. Without fanfare, a man named Leon Earl stepped in with a $ 150 scholarship that allowed me to complete the semester. His generosity demonstrated the important impact that a single person can have on the life of a student. I often think of Leon Earl because without him and this scholarship I’m not sure I would be done. And if I hadn’t finished this semester, I’m not sure I would be here today.

So I’m the living embodiment of how selflessness and access can change someone’s life. The Never Auburn the scholarships will create access for students with both merit and need. They will extend assistance to students like me, who are already registered but who may not cross the finish line due to lack of funds. They will support gifted students Auburn wants, but who choose peer schools that offer more generous aid.

Struggling to keep the dream alive

I think of students like Caleb Kirk, a high school National Merit Scholar who is currently studying chemical engineering. Caleb was offered a full tour of Alabama, but his dream was to go to Auburn. One of six children, he knew from the start that he would fund college on his own. Despite obtaining a scholarship, he still had to find the money for housing, a meal plan, gasoline and daily expenses. Without funds like the Never Auburn Scholarships, we could lose students like Caleb.

Or like Donovan Evins, who is studying for a degree in medical laboratory science. Living in a single parent family, Donovan constantly fills out scholarship forms that his mother gives him to make sure he can enroll in the next semester.

And there was the story of a nursing student who studied by candlelight at night to save money on electricity.

These hard-working students represent the best of what it means to be a part of the Auburn family. And yet, students in these situations have no choice but to go into heavy debt or accumulate jobs, which increases the risk of burnout and sometimes leaves them heavily in debt and without a degree. We spend a lot of time recruiting talented students, but we can’t forget our responsibility to support students once they enroll. For some, just one setback in their health or family life can derail an academic career.

Getting a college degree has never been more important

As we know, earning a post-secondary degree has never been more important as students prepare to enter a job market that is more unpredictable and competitive than ever before. As employers grapple with navigating the post-pandemic economy, our students know that a college degree, which emphasizes critical thinking skills, is the most important investment they can. do in themselves. They also value Auburn’s affiliation as an integral part of their future career prospects.

Auburn must be known as an accessible university. As a land granting institution, we have an obligation to ensure that we serve all Alabama students. If we believe that the most talented and hard-working students in our state deserve the opportunity to graduate from an institution like Auburn, then we have a responsibility to provide an affordable and accessible path to it.

A commitment to what matters

We cannot do it alone. A commitment of this magnitude is a “everyone on deck” proposition. We thank alumni and friends who have already given to establish Never Auburn scholarships, as well as those who will in the future. With the support of the Auburn family, we will succeed in opening our doors wider and ensuring the Auburn experience for future generations.

The impact of Never Auburn will be exponential, providing a pathway for talented, high-quality students to graduate and fully contribute to university life. This is an opportunity to attract the best students for Auburn’s future and to strengthen Auburn’s core values ​​of hard work, education and family for the entire Auburn community.

In the end, isn’t that what matters most?

Bill Hardgrave is Dean and Senior Vice President of Academic Affairs at Auburn University.


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Mayor asks for more money this fall to rehire retired police officers, expand Portland Street response, prepare for body cameras https://angil.org/mayor-asks-for-more-money-this-fall-to-rehire-retired-police-officers-expand-portland-street-response-prepare-for-body-cameras/ https://angil.org/mayor-asks-for-more-money-this-fall-to-rehire-retired-police-officers-expand-portland-street-response-prepare-for-body-cameras/#respond Fri, 17 Sep 2021 20:15:59 +0000 https://angil.org/mayor-asks-for-more-money-this-fall-to-rehire-retired-police-officers-expand-portland-street-response-prepare-for-body-cameras/ As shootings continue to skyrocket in Portland and homicides peak in more than two decades, Mayor Ted Wheeler on Friday called for more money to allow police to rehire officers who have recently retired to address the office staff shortage. Wheeler also called for a city-wide expansion of Portland Street Response to reduce the number […]]]>

As shootings continue to skyrocket in Portland and homicides peak in more than two decades, Mayor Ted Wheeler on Friday called for more money to allow police to rehire officers who have recently retired to address the office staff shortage.

Wheeler also called for a city-wide expansion of Portland Street Response to reduce the number of calls police must handle. Along with that effort, he said he expected to ask for a significant increase in funding to allow non-emergency calls to be diverted from the 911 emergency dispatch system to another line, the city’s 311 program. .

Additionally, Wheeler said he intends to look for money to set aside to equip officers with body cameras.

Wheeler, who is a police commissioner, and Police Chief Chuck Lovell have estimated that 80 officers would be eligible for retirement and could return to work this year.

The return of retirees ensures that officers can be patrolled the streets or help immediately target gun violence “as well as prevent burnout among our current officers,” Wheeler said.

Wheeler and Lovell’s remarks come just a month before city council is considering budget adjustment proposals this fall. The mayor has yet to provide the exact amount he will seek to increase the police bureau’s budget. He said he expected to know how much money will be available for budget adjustments by the end of this month.

“Last March, when I worked with the Interfaith Peace and Action (Collaborative) and other community leaders to come up with a gun violence reduction plan, I said we had to act then so that we had time to prepare for what seemed like a disaster the summer to come. We lived that summer, ”Wheeler said. “The city tends to have its deadliest year in decades. And while urban gun violence affects cities across the United States, we are not other cities. This is our home and we have to do better here.

The city has recorded 64 homicides so far this year, including three fatal shootings by police. Of these, 46 were the result of shootings.

On Thursday, 886 shootings took place across the city this year, with 283 people killed or wounded by bullets. Police recorded 1,229 shootings in the past 12 months, a significant increase from the 656 shootings reported in the previous 12 months.

The office is losing officers much faster than it can hire new hires, and this year it expects another wave of retirements.

Since the start of the year, the chief and mayor have requested support for a rehiring program to address the office’s staff shortage, but council did not approve it in this year’s budget.

The Police Bureau now has 122 sworn officer positions. There are currently 794 sworn-in officers, of which 59 are in training, with an authorized strength of 916.

Hiring new officers has been difficult, with fewer state police base academies offered during the pandemic. The office also lost its three-member recruiting team in the past fiscal year – the senior recruiter resigned and two officers were put back on patrol to fill shifts. Police also reduced the number of investigators tasked with checking candidates’ personal backgrounds to seven from 18, according to police.

So far this year, 40 officers have retired. Last year, 56 retired. In addition, 71 other agents left this year, either by resignation or by failure of their probationary period, according to the office.

During exit interviews, a few retirees said they would have stayed if the office still had a retirement-re-hire program to come back for two to six years. The office eliminated the program last year because it is more expensive to bring back veteran agents who earn more money.

City commissioner Mingus Mapps, who rejected the mayor’s proposal additional funding for the police office earlier this year, is now strongly calling for more police resources and said this week it wants a 20% reduction in gun violence over the next 15 months.

“To pretend you don’t exist devalues ​​the lives of black people,” Mapps said in a prepared statement. “33.6% of homicide victims were black males in the past fiscal year, compared to about 3% of the population. At this point, it is fallacious to deny that the Portland Police Office and law enforcement have a critical role to play. “

Wheeler was reluctant to set such a specific shooting reduction target, but said he was committed to reducing shooting in the city through increased enforcement and community outreach and support. “We won’t see the results without the investments and without the strategies at the street level,” he said.

Last year, city council eliminated the police bureau’s gun violence reduction unit, which aimed to proactively target gun violence but criticized for its disproportionate arrests of people of color. The city dissolved the unit without providing an immediate alternative.

In the spring, the mayor approved the creation of a similar team of uniformed officers to identify and prosecute the most frequent suspected shooters – with a new layer of community surveillance in the form of a citizens’ group to track its performance. .

But the police office does not expect the team of 12 officers led by two sergeants to be operational until the end of November.

Few officers had volunteered for the team earlier this year. Some officers said they were unsure of the watch group’s expectations and feared they would not gain support from the city, Deputy Chief Jamie Resch said.

Instead, the police office decided to identify the team’s supervisors first, appointing Acting Lt. Ken Duilio to oversee the new team, under the command of Captain James Crooker and Cmdr. Art Nakamura.

Five officers have now applied for the team’s two sergeant positions. Police and two members of the community watch group will interview the five next Tuesday, and selections are expected by the end of next week. The community watch group and police then plan to release a new job description for officers on the new team in late September.

Lovell said he chose not to assign or appoint officers to the new team because he wanted to enable the community group’s contribution in light of past experiences with the now defunct gangs and anti-gang teams. reduction of gun violence.

“We take public safety seriously in the city. He is painful to see community members injured and gunshot wounds on our streets, and we are doing everything we can to get the targeted response team up and running, ”said Lovell. “We are working with the resources we have. We’re looking for ways to add more, and we really want people to feel safe and able to come out in the community, and not worry about gun violence.

The expansion of Portland Street Response is expected to help reduce the number of low-priority calls that Portland police must answer, accounting for about 40% of the office’s calls, according to police. Street Response sends a paramedic and social worker to people experiencing homelessness or mental health crisis if there are no weapons involved in the call. It was launched in February, limited to the Lents district.

Meanwhile, the city faces complaints of 911 callers who sit on hold for minutes, instead of seconds, before their emergency calls are answered.

In a shooting at a Pearl District restaurant earlier this month, people who called 911 to report the shooting and other emergencies over the next half hour waited an average of more than 7, 5 minutes before a dispatcher responds, well above the national picking standard. up to 911 calls in 15 to 20 seconds.

Bob Cozzie, director of the city’s Emergency Communications Office, said a 20-45% increase, depending on the week, in the volume of 911 calls received is not sustainable. He said he would like to see all non-emergency calls transferred to the 311 program line, but program staff only answer the line on weekdays from 8 a.m. to 5 p.m.

The 311 system is designed to provide callers with a single point of contact for finding information on municipal and government services.

“We need relief by next summer or we’ll burn people so drastically,” Cozzie said of his staff.

Michelle Kunec-North, the 311 program manager, told city officials earlier this week that about 60,000 of the 500,000 non-urgent calls could be absorbed by line 311 by the end of the fiscal year, ie next June. She said the 311 program would need at least 10 to 15 additional employees to handle all non-emergency calls 24 hours a day, seven days a week.

Regarding body cameras, the city is negotiating a policy with the police union for the use of cameras that would ensure officers cannot see the footage until their initial investigation report or interview with a detective if they use lethal force, the mayor said.

The US Department of Justice has called on the city to take this step to address its failure to meet the terms of a 2014 settlement agreement on the use of force, police training and oversight.

–Maxine Bernstein

Email mbernstein@oregonian.com; 503-221-8212

Follow on Twitter @maxoregonian



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Five aldermen refuse salary increase for next year https://angil.org/five-aldermen-refuse-salary-increase-for-next-year/ https://angil.org/five-aldermen-refuse-salary-increase-for-next-year/#respond Thu, 16 Sep 2021 23:31:21 +0000 https://angil.org/five-aldermen-refuse-salary-increase-for-next-year/ Five aldermen are refusing a 5.5% cost of living increase they granted them next year, but the majority of city council members will see their salaries increase in a few months. The five accepting the increase are a mix of aldermen from the north, northwest, and southwest sides, all in their first or second terms […]]]>

Five aldermen are refusing a 5.5% cost of living increase they granted them next year, but the majority of city council members will see their salaries increase in a few months.

The five accepting the increase are a mix of aldermen from the north, northwest, and southwest sides, all in their first or second terms on the board.

The aldermen on the southwest side Raymond Lopez (15th) and Silvana Tabares (23rd), the aldermen on the northwest side Felix Cardona (31st) and Gilbert Villegas (36th) and the north side Ald. Matt Martin (47th) has all handed over papers to the city to refuse the salary increase, which will begin on January 1.

Lopez, Cardona and Martin will continue to earn $ 122,304 in 2022, while Villegas will earn $ 115,560 and Tabares’ salary will remain at $ 123,504.

City budget officials did not immediately respond to questions about why salaries differ.

Martin, first elected of the North Side 47e Ward two years ago said not to make the adjustment was a “personal decision”.

With the pandemic “presenting the kind of financial challenges it has for so many people inside and outside of government, what is usually something that is a very minor problem, if not a non-problem, takes on added significance.” .

Ald. Matt Martin (47th) attends his first Chicago city council meeting in 2019.
Ashlee Rezin / Sun-Times File

“When I look at my own situation and reflect on the many challenges that my neighborhood and my city have faced, I think it’s the best personal decision for me to forgo this year’s cost of living adjustment. Martin said.

Ald. George Cardenas (12th) initially appeared to reject the raise of $ 6,734, but changed his mind. He will see his salary go from $ 123,504 to $ 130,238.

Cardenas said it was a “misunderstanding” caused by a member of his staff preparing the wrong document and returning it to city officials.

“I’m taking the increase,” Cardenas said. “It’s not about the money – [the consumer price index] take care of that … I’m applying for a job that pays $ 30,000 less than what I would earn, so it’s not about the money.

Cardenas, who is running for a seat on the Cook County Review Board, and 29 others will see their salaries rise to $ 130,238.

Ald.  George Cardenas (12th) speaks at a city council meeting in May.

Ald. George Cardenas (12th) speaks at a city council meeting in May.
Pat Nabong / Sun-Times file

This includes city councilors Carrie Austin (34th) and Patrick Daley Thompson (11th), both federally charged but who have pleaded not guilty.

Thompson, nephew of a former Chicago mayor and grandson of another, was charged in April with misrepresenting and filing false income tax returns.

The second-longest-serving Council member, Austin is accused of accepting bribes in the form of home improvements, including new kitchen cabinets and granite countertops, from a developer who asked for his help to send a project to the town hall.

The Far South Side alderman is also accused of lying to FBI agents who sought to question him about the benefits.

The third serving alderman under federal indictment, Ald. Ed Burke (14th), will see his salary drop from $ 114,192 to $ 120,406, according to city figures. With his 52-year tenure making him the longest-serving alderman, Burke was charged with racketeering in a 59-page indictment in 2019, but also pleaded not guilty.

Ald.  Edward Burke in 2019

Ald. Edward Burke in 2019
Fran Spielman / Sun-Times file

Thompson, Austin and Burke did not immediately respond to requests for comment on the pay rise.

Ald. Jim Gardiner (45th), who apologized to city council on Tuesday for the “offensive” texts he sent in 2019, will also earn $ 130,238 in the new year, up from $ 123,504.

Ald also takes the increase. Nick Sposato (38th) who joined the Board in 2011 and did not take the raises in his first four years.

“I’ve made my sacrifices already so I have no problem taking a raise now,” said Northwest Side alderman. “I work really hard. I work 70 hours a week fairly regularly, maybe in the winter it’s more like a 60 hour week job, unless there is no thunderstorm or something. like that … I’m not going to say I’m the toughest alderman, but I bet all I sure am, one of the two or three hardest-working aldermen in town.

Sposato’s current salary puts him in a three-way tie for fourth lowest on city council with councilors Matt O’Shea (19th) and Tom Tunney (44th). Once the pay raise is in place, all three will earn $ 119,984.

Historically, few members of City Council reject salary increases.

In 2008, faced with a deficit of $ 420 million – and over 1,000 layoffs – few aldermen chose to forgo a 6.2% increase, even when the city’s budget manager personally told them. asked to do so.

“Kiss my king,” replied the late Ald. Bernard Stone (50th) gave the request when a reporter asked him about it. “Under no circumstances will I give up my salary increase. “

Salary increases were first linked to the rate of inflation in 2006.


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What do you need ? – Councilor Forbes https://angil.org/what-do-you-need-councilor-forbes/ https://angil.org/what-do-you-need-councilor-forbes/#respond Thu, 16 Sep 2021 12:00:38 +0000 https://angil.org/what-do-you-need-councilor-forbes/ Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. The decision to put money aside today for retirement years from now is a very big demand. But then comes the hardest part: figuring out how […]]]>

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors.

The decision to put money aside today for retirement years from now is a very big demand. But then comes the hardest part: figuring out how to invest that money.

“Most people don’t want to be their own financial advisor,” says Stan Milovancev, executive vice president of CBIZ Retirement Plan Services. “Even if they want to, they must be able to understand the theory of investing and have the courage to stick to it.”

Because they handle all the choice and management of investments, a target date fund or robot advisor can be a smart and easy solution. But what exactly are they and how do you determine which one is best for you?

What is a robot advisor?

As the name suggests, a robo-advisor is an automated investment advisor. After asking you a bunch of questions about your financial life and investment goals, its algorithm spits out a recommended mix of investments.

This asset allocation is typically made up of low-cost exchange-traded funds, or ETFs, which contain hundreds or thousands of individual stocks or bonds. This allows for easy diversification of your investment dollars and is in line with what most financial advisors recommend for a successful long-term retirement investment.

Of course, these investments and their maintenance are not free. There are usually two fees that you pay when you invest through a robo-advisor.

Most robotics advisers charge what is known as an advisory fee for managing your account. A recent survey of 17 robo-advisers set the average annual fee at 0.30%.

Then there is the annual expense ratio charged by the investments the robo-advisor places you in. The cheapest ETFs and index mutual funds may have expense ratios of less than about 0.10%. This means that your overall cost of investing through a robo-advisor can typically be less than 0.50% of the assets you own each year.

What is a target date fund?

A target date fund is a lot like a robo-advisor in that it is a one-stop-shop solution to building an instant diversified portfolio.

Although you take a quiz to determine your investments with a robo-advisor, target date funds are much simpler, offering the same diversified asset allocation strategy for everyone by number of years as they have it left before they reach retirement age.

When you are young, a maturity fund adopts a more aggressive strategy with a higher percentage of equity investments. But as retirement approaches, he adjusts his holdings to become more conservative with his holdings, so you’re less likely to ruin your retirement plans if something cataclysmic happens in the stock market.

Because this is a fund that holds many other funds, a target date fund is called a fund of funds in the investment world. In addition to standard equity and bond funds, some maturity funds also invest in real estate and commodities funds.

As with robo-advisers, investors pay an annual expense ratio that reflects the fees charged by each of the underlying funds in the portfolio. According to Morningstar’s annual target date report, the asset-weighted average expense ratio for target date funds is 0.52%. The cheapest target date funds have an average fee of 0.12%

Differences between a Robo-Advisor and a target date fund

While both approaches offer a streamlined approach to retirement investing, there are some important differences to consider when considering robo-advisers and target date funds.

Customization level

Essentially, a target date fund asks you a question: How old are you? The wallet that you are guided in is the same that everyone of the same age will have, although your financial situation may be very different.

“A robo-advisor starts with your age, then asks a lot more questions, such as how much you’ve already saved and your income level,” says Milovancev. “A robot is not as personalized as working with a financial advisor, but it is much more personalized than investing in a maturity fund.”

While target date funds are designed for retirement savings, a robo-advisor can also create portfolios to help you meet other goals, like saving for a down payment or a child’s school fees. For this non-retirement savings, you will use a regular investment account that does not enjoy the tax benefits of a retirement account.

But for this reason, many robot advisers are able to offer a service called tax loss harvesting that takes advantage of the fact that even though you are taxed on the gains, you can write off the losses. Over time, this can improve your investment returns in taxable accounts.

Investment universe

Target date funds typically use mutual funds managed by the same company. For example, BlackRock target date funds own BlackRock funds. Fidelity Target Date Funds own Fidelity mutual funds. “It can be very good,” says Milovancev. “But they only shop at their grocery store.”

Meanwhile, robo advisers who are not affiliated with a fund company, like Betterment and Wealthfront, have the freedom to research the best investment options for their client portfolios. This can help you get lower fees, more cash, or even better prices on your investments.

Investment approach

Robo-advisers typically only use index ETFs or index mutual funds that simply attempt to recreate the performance of major indices, like the S&P 500 or the Nasdaq. Because there are no regular decisions made about what to invest in, this is called passive investing and contrasts with so-called active investing in which each investment is chosen by a professional.

Some target date funds use actively managed funds, some are 100% committed to indexing like most bots, and some even use a combination of the two. Target date funds that use a certain amount of actively managed funds generally tend to have higher expense ratios than fully passively managed funds. This can reduce your returns on investment over time.

Cost

A target date fund with a low expense ratio will typically cost you less than the all-in cost of a robot advisor, where you pay an advisory fee plus the expense ratio. That said, if you go with a target date fund that includes actively managed funds, you might find yourself paying a higher expense ratio than the all-in cost of a robo-advisor.

While you shouldn’t necessarily run the other way around with higher fees, keep in mind that, on average, actively managed funds perform worse than passively managed index funds. This means that you could end up paying more for the same or worse performance.

Finally, when looking for robot advisers, there is another important factor to consider when it comes to cost. Some bots will tell you that there is no consulting fee. But there is usually an important asterisk that you don’t want to miss.

Schwab’s robot offering, for example, doesn’t charge an advisory fee, but the algorithm it uses to determine your asset allocation will still insist that you hold money (it can range from 6 % to 29% depending on your investment objective) and that the cash will be held in Schwab’s own bank. This means that Schwab is free to lend your money as it would any other money held in savings accounts. This helps him pay for his “free” consulting services, but it can cost you returns that you miss because not all of your money is invested.

Other robots, like SoFi Automated Investing, cover the cost of their “free” services by investing you in a certain amount of proprietary funds they own that may have higher expense ratios than comparable investments. on the long term.

The important thing to remember is that there really isn’t a free robo-advisor. Each brokerage must ultimately charge enough to at least cover the cost of the service, even if these fees are hidden.

Minimum investment

It’s hard to outline when it comes to the minimum you need to invest with a target date fund or robo-advisor. You can find platforms and products that require little or no money to start, and others, like Personal Capital, that cost over $ 100,000.

That said, generally speaking, since most target date funds are mutual funds, they tend to have higher minimum investment requirements. For example, it takes $ 1,000 to start with a target date fund at low-cost leader Vanguard. But funds with no minimum target date exist. Schwab’s target date funds, for example, have a minimum investment of $ 1 for retirement accounts, and you may be able to bypass minimums at some brokerage firms by agreeing to regularly invest a set amount.

Robo-advisers generally have lower initial hurdles: for example, Betterment has no initial minimum and Wealthfront is $ 500. But the robots of traditional brokerage houses, like Vanguard and Schwab, may have minimums that exceed their target date fund counterparts.

In short, when deciding between saving for retirement with a maturity fund or a robo-advisor, keep in mind that different products have different minimums that can affect your ability to invest immediately. But with a little research, you should be able to find a robot or target date fund that meets your needs.

Should you invest with a target date fund or a robo-advisor?

If you are investing as part of a workplace retirement plan, the decision to use a target date fund or robot advisor is for you: – date funds, not robots.

But if you’re ready to do a 401 (k) rollover or want to build retirement savings into an Individual Retirement Account (IRA), you can go either approach to make your life easier. investor.

If you’re ok with a perfectly usable (but cookie-cutter) approach that may charge less fees, go for a target date fund. If you are hungry for an asset allocation that is more suited to certain basic elements of your personal financial life (savings, income, etc.) or if you need to invest for something outside of retirement, a robot advisor is the solution. . And for a more personalized approach than a robot, you’ll need to enter the world of work with a financial advisor.


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