Retirement planning is a <a href="https://www.investopedia.com/retirement/retirement-planning-doesnt-stop-when-you-retire/">multistep process that evolves over time </a>. To have a comfortable, secure—and fun—retirement, you need to build the financial cushion that will fund it all. The fun part is why it makes sense to pay attention to the serious—and perhaps boring—part: planning how you’ll get there.

What Is retirement planning

<ul><li>Retirement planning should include determining time horizons, estimating expenses, calculating required after-tax returns, assessing <a href="https://www.investopedia.com/terms/r/risktolerance.asp">risk tolerance </a>, and doing estate planning. </li><li>Start planning for retirement as soon as you can to take advantage of the power of compounding. </li><li>Younger investors can take more risk with their investments, while investors closer to retirement should be more conservative.  </li><li>Retirement plans evolve through the years, which means portfolios should be rebalanced and estate plans updated as needed. </li> </ul>

Key Points

Knowledge on Retirement planning is essential as it needs to be planned right from the beginning of career.

Regardless of your age, taking these five steps will help you build a solid retirement plan.

career

Career

moneyandinvestments

Money & Investments

5 Key Retirement Planning Steps That Everyone Should Take

“Compound interest is the 8th wonder of the world”.

finance : to pay interest on both an amount of money and the interest it has already earned.

What Is Compounding?

Compound interest = total amount of principal and interest in future (or future value) less principal amount at present (or present value)= P [(1 + i)n – 1]Where:P = principali = nominal annual interest rate in percentage termsn = number of compounding periods

Formula For Compound interest 

<ul><li>Compound interest can significantly boost investment returns over the long term. </li><li>While a $100,000 deposit that receives 5% simple annual interest would earn $50,000 in total interest over 10 years, the annual compound interest of 5% on $10,000 would amount to $62,889.46 over the same period. </li><li>If the compounding period were instead paid monthly over the same 10-year period at 5% compound interest, the total interest would instead grow to $64,700.95.</li></ul>

How Compound Interest Grows Over Time

Series of ideas on power or compounding in Personal Finance

crypto

Cryptocurrency

Power of Compounding

Let’s not forget that competition is not the only dominant force in nature, it is rivaled only by its better half: <a href="https://www.psychologytoday.com/us/basics/teamwork">cooperation</a>.

help :)

In the words of Bertrand Russell, “the only thing that will redeem mankind is cooperation."

yin-yang

Psychological research suggests that intrinsically-motivated behavior change is much more likely to be sustained in the long-term.

long-term

Unfortunately, lots of psychological <a href="http://psycnet.apa.org/journals/bul/125/6/627">research</a> has also shown that external incentives “crowd out” (i.e., undermine) people’s <a href="https://www.psychologytoday.com/us/basics/motivation">intrinsic motivation</a> to do good. For example, <a href="http://psycnet.apa.org/index.cfm?fa=search.displayrecord&uid=2015-00692-001">highlighting</a> the monetary benefits of saving energy actually makes people less likely to do so. This is related to what we call negative “goal-replacement".

internalisation

Long-standing <a href="http://www.annualreviews.org/doi/full/10.1146/annurev.psych.59.103006.093625?url_ver=Z39.88-2003&rfr_id=ori:rid:crossref.org&rfr_dat=cr_pub%3dpubmed&">research </a>has shown that the ability to be compassionate, empathize with others and to care about the natural world are evolutionarily adaptive behavioral traits. In fact, a psychological concept known as the “<a href="http://personal.lse.ac.uk/vanderli/Helper%27shigh.pdf">helper’s high</a>” suggests that “doing good” actually makes people “feel good” both psychologically as well as physically

helping

they let me help and think more in a helpful manner to ownself and others.

How competitions can lead you to do the right thing for the wrong reason

personaldevelopment

Personal Development

health

Health

problemsolving

Problem Solving

The Psychology of Competition

<a href="https://looksrare.org/">LOOKSRARE </a>is a new venue to buy and sell non-fungible tokens, aiming to take on the behemoth that is <a href="https://thedefiant.io/opensea-millions-sales-nfts/">OpenSea </a>. The leading marketplace for digital collectibles has already done $2B in volume in January, which puts it well on track to break its August record of $3.4B in volume, <a href="https://dune.xyz/rchen8/opensea">according to Dune Analytics </a>.

First, they needed to have bought or sold at least 3 ETH worth of NFTs on OpenSea between 16 June and 16 December 2021.  Second, they will need to list an NFT for sale on LOOKSRARE.  The minimum airdrop per eligible wallet is 125 LOOKS tokens, with the most active traders receiving 10K tokens. LOOKS is trading at $2.60 on Monday afternoon in New York, making the airdrop worth between $325 and $26K.

Airdrop Eligibility

Users can also earn LOOKS by staking or trading on the site.  LOOKSRARE charges a 2% fee on trades (0.5% lower than on OpenSea) and all of those fees go to LOOKS stakers, which means anyone can get in and earn a share of the marketplace’s revenue.

Staking LOOKS

LOOKSRARE is introducing new features that are useful for people in the NFT space. For example, a buyer can make an offer specific to a collection of NFTs ( one user recently <a href="https://twitter.com/LooksRareNFT/status/1480557552698277889">offered to buy </a>any Bored Ape Yacht Club NFT for 78 ETH). Making the same offer on OpenSea would require the user to place a separate bid on every item in the collection. Other features should come soon. The team’s <a href="https://docs.looksrare.org/about/welcome-to-looksrare">about page </a>touts a modular design that should make it fast and safe to add new features.

LOOKSRARE is not the only contender bidding to challenge OpenSea and capture a slice of the booming NFT market. We <a href="https://thedefiant.io/infinity-goes-after-opensea/">previously reported on Infinity </a>, which also offered an airdrop to past OpenSea users. Other markets include <a href="https://help.zora.co/en/articles/5049199-zora101-a-beginners-guide">Zora </a>and <a href="https://www.theopendao.com/">The Open DAO </a>.

New NFT marketplace LOOKSRARE airdrops up to $26K to NFT traders.

LOOKSRARE Airdrops Token and Entices NFT Fans to Try Out New Marketplace - The Defiant

Most people assume that owning a credit card means that you'll be swarmed in debt  but this is not always true. Let's explore the reasons why.

How to Avoid Piling Credit card Debts

Reading through the terms and conditions that come with opening a new credit card is important so you can ensure that you are getting favorable terms compared to what competitors are offering (this would require you do a little digging beforehand). For instance, you can find out what interest rates other issuers are offering and at the risk of stating the obvious, go for the credit card with the lowest interest rate.

1. Read the Fine Print

Credit card issuers prefer that you use your card for making purchase payments, if instead, you withdraw cash at an ATM, for instance, you get charged a transaction fee, finance charges and a higher interest rate. It’s the most expensive transaction you can make with a credit card.

2. Avoid Cash Advances

Medical bills may show up unexpected but putting them on your credit card is not the answer. Doing these will cost you a lot of money in interest instead, call your doctor or hospital’s billing department and ask about your options, hospitals usually have a structure for interest-free monthly payment plans.

3. Avoid Putting Medical Bills On Your Credit Cards

The better your credit card score the lower interest you should have to pay. If your credit score has improved and you have always cleared your bills on time, it might be time to give your credit card issuer a call. Most credit card issuers provide varying interest rates to cardholders based on their credit score. Look up your credit score by logging into your credit card issuers site then compare with the varying interest rates your issuer offers to find where you belong.

4. Negotiate A Lower Interest

Consumers are more likely to spend more money when they pay by credit card, this is said to be because people do not experience the abstract pain of payments. Staying on a budget is all based on your self-regulation but you can consider applying the following tips:Monitoring your payments, removing the autofill card option from your online shopping option, never using more than 30% of your available credit. Added to that If you can’t afford it without a credit card don’t buy it, limit the number of credit cards you have so your payments become easier to track.

5. Stay on a budget

Paying off your balance each month helps you avoid interest completely and improves your credit score. Using an autopay feature ensures that you never miss a payment and therefore never have to worry about paying extra in interest.

6. Link a bank account & Turn on Autopay

Emergencies are one of the reasons people go into credit card debt therefore building a safety net by saving or investing in appreciating assets will ensure that whatever the future throws at you, you’ll have the capacity to return a serve.

7. Have backup savings or investments

These Ideas show how to enjoy the rewards that come with using a credit card while also avoiding the threat of drowning in debt.

😎 On my blog: Informationprime.wordpres.com

habits

Habits

Rewards, Debts and Interest: A Complete Guide to Credit Card Management

I try to avoid anything that would lead to debt, most people would too yet even though credit cards fall in this category; it remains one of the most popular means of payment. Why?

Why do people get credit cards?

If you don’t have a credit history, you won’t have a good credit score. A credit score is a number that rates your credit risk. Creditors use it to determine whether to give you credit and what terms to offer you. Having a high score can make it easier for you to get a loan, rent an apartment, or lower your insurance rate. Having a properly managed credit card increases your credit score.

1. Building Credit

If you need to buy something and you don’t have the cash on hand. A credit card can be a very expensive type of loan but circumstances can make it difficult to ignore.

2. Emergencies

With a credit card you can get cash back on your purchases, airline points, discounts, coupons and more. These rewards are not available for Debit card users

3. Rewards

Most credit cards can be used internationally and online, whereas cash and bank cards often cannot, you’d have to use some form of currency exchange or maybe PayPal (if it’s an option).

4.Convenience

For some transactions providing a credit card is compulsory. For instance, hotel reservations or car rentals may require that you submit a credit card as this would ensure that whatever extra costs you run up can be easily recovered.

5. Inevitable

These ideas help to understand why credit cards remain a popular means of payment despite being a form of debt.

There are not many things more familiar than credit and debit cards yet while their popularity remains undeniable, some parts of their workings remain obscure especially with credit cards. Understanding credit card payments, rewards, debts and interest can provide a major boost and security to your financial well-being and in the sections listed below, I’ll…

The “Great Resignation” can be considered the result of pent-up frustration and being put on pause. It is a great reexamining. People are looking at their lives and considering not just how much they want to be paid; they’re also deciding what they want their title to be and what their life should look like. Instead of getting through the day, they’re looking at the long term.
If you’ve been waiting to ask for a raise, ask now! If you’ve been waiting to go for the promotion, go now!

The Great Resignation Is A Re-examining

Get better at asking for more by realizing where negotiation starts. It doesn’t start from the moment you sit down with your boss; it starts at home with you. It starts with being able to clarify your goals, your concerns, and your needs.
Expert negotiators are not the people with the most bluster or aggression; they’re the people with the most knowledge. They know themselves. They know the situation, and they have the ability to listen and get to know the other person really well so that they’re crafting the best possible deals.

Prepare To Ask For More

The key is going from closed to open questions. Classic closed questions can be answered with a “yes” or “no,” and the easiest answer is “no.” Instead of asking for a promotion. You can ask: "What’s the promotion process going to look like this year?” Or, “What do you need from me to make the case for my promotion?” Then listen to the answer.
When you ask someone that question, very often you’re going to get powerful information that’s going to tell you what matters most to them, so that you’re going to be able to figure out a way that meets their needs, while also meeting yours.

Asking Open-Ended Questions

The final critical skill you need to master in a successful negotiation is “landing the plane.” 
You asked your question and made your request, now, stop talking and land the plane. Silence can be nerve-wracking, putting you at risk of eating it up with words you may regret. A lot of high-value negotiation moves come after three and a half seconds of silence. If you need to count in your head, do it. But silence is a superpower in negotiation. It gives the other person time to think, and it prevents you from bidding against yourself.

Stop and Land the Plane: A Few Seconds Of Silence

Now is the time to ask for more—whether that’s a promotion, a raise, or other perks—says writer Alexandra Carter.


marketingandsales

Marketing & Sales

communication

Communication

How to get better at asking for more money

We need to be clear about why we are investing. Otherwise, the smallest perturbation – a market up move or down move, or an opinion by an expert with tweet diarrhoea can make us question our choice.

1. Individuality

Once we create an investment plan suited for us, we need to stick to it, rain or shine. Due to the ups and downs of life, we may not invest regularly. We must keep track of the missed investments and make up for them late

2. Discipline

We must recognise that any choice we make in life or personal finance will have an associated cost. Sometimes the cost is immediately apparent, and sometimes it may take decades to reveal itself.

3. Balance/composure

he most important quality, in our opinion, is humility. We must recognise that there are a zillion ways to go from point A to point B, and ours is just one of them. It is rather immature to assume that what we are doing or our choices are the best.

4. Humility

I came across an neat article which actually gives a quick reality check which every investor must have in the process of building wealth.

Here are four qualities needed to become a successful investor. Thankfully we can develop these qualities in time. We neither need to be smart nor

business

Business

Four qualities that define a successful investor

Think of it like packing your lunches for the week all at once instead of packing your lunch each morning. You can use this same technique for breakfast, lunch, dinner, and snacks.

What is Meal Prepping?

If having control over what you eat, or maximizing your time or budget is more valuable to you than eating something different every single day, meal prepping is your ticket.

Who is Meal Prepping For?

<ul><li class="ql-align-justify">cooked grains & pasta</li><li class="ql-align-justify">cooked beans</li><li class="ql-align-justify">cooked meat</li><li class="ql-align-justify">roasted vegetables</li><li class="ql-align-justify">hearty fresh vegetables (think celery, carrots, peas, bell peppers, kale, cabbage, radishes, etc.)</li><li class="ql-align-justify">whole fruit (apples, oranges, stone fruit)</li><li class="ql-align-justify">nuts & seeds</li><li class="ql-align-justify">cheese</li><li class="ql-align-justify">sauces and dips (like salad dressings, hummus, salsa, sour cream, etc.)</li></ul>An easy way to think about meal prepping is to make a formula out of it. When deciding which foods to meal prep I try to pick out one of the following formulas:<ul><li class="ql-align-justify">Basic: Protein + Grain + Vegetable</li><li class="ql-align-justify">Low Carb: Protein + Vegetable + Vegetable</li><li class="ql-align-justify">Vegetarian: Legume + Grain + Vegetable</li></ul>

What Can I Meal Prep?

Start SMALLStart by packing up your leftovers from dinner one night and taking them for lunch the next day. Once you’re comfortable with that and you get to know what types of food you like as leftovers, you can pick one recipe to prep for the week ahead.I suggest starting with a <a href="https://www.budgetbytes.com/15-single-recipe-meal-prep-ideas/">single recipe meal prep </a>instead of a meal that requires two or three recipes together. <a href="https://www.budgetbytes.com/15-single-recipe-meal-prep-ideas/">Single recipe meal preps </a>provide your protein, grain, and vegetables all in one recipe, so there is no need to make a side dish.

How To Start Meal Prepping

Plain glass containers in different shapes/sizes (eg. <a href="http://a.co/9s3X4JM">3-cup rectangle </a>and <a href="http://a.co/7WWTNNI">4-cup bowl</a>) work for just about everything.Invest in a thermos (or 2)!!! You can take your hot tea, or ice water, or energizing soups with you..and no need to reheat your food or drink.Divided compartment containers, are more limited because not all food can fit in the compartments. They are great for having your food organized, but they are best for non wet foods.<a href="http://a.co/6IkqgvQ">Metal bento box</a>es are also great, as long as you’re packing a cold meal and don’t need to heat it in a microwave. Plastic bento boxes are also an option.

What Do I Need?

Demystify the who, what, and how of meal prepping with this meal prep 101 beginners guide. Make your meals easier, convenient, and more efficient with this simple method.

food

Food

Meal Prep 101: A Beginners Guide to Meal Prepping - Budget Bytes

<ul><li>MakerDAO founder Rune Christensen has called out rival stablecoin protocols Terra and Abracadabra.Money. </li><li>He said that UST and MIM are "not built for resilience," adding that they are "are going to 0 once the market turns for real." </li><li>Abracadabra.Money and Terra founders Daniele Sestagalli and Do Kwon took shots at Christensen in response. </li> </ul>

“Look, UST and MIM are solid ponzis and I respect that. You can make good money off them for sure. But they are not built for resilience and they are going to 0 once the market turns for real. Now stop trying to scam users looking for actual stability into being ur exit liquidity.”

MakerDAO Founder Slams Rival Stablecoins

MakerDAO's founder Rune Christensen has fired shots against rival stablecoins UST and MIM, calling them "solid ponzis."

Discover the world of business and economics.

economics

Economics

Terra, Abracadabra Stablecoins "Are Going to Zero": Maker Founder

Find 100+ Ideas and Facts about Money - Curated from interesting sources like Books, Podcasts & Articles - Genuine Insights from like-minded Users like You!

5 Key Retirement Planning Steps That Everyone Should Take

Power of Compounding

The Psychology of Competition

LOOKSRARE Airdrops Token and Entices NFT Fans to Try Out New Marketplace - The Defiant

Rewards, Debts and Interest: A Complete Guide to Credit Card Management

Rewards, Debts and Interest: A Complete Guide to Credit Card Management

How to get better at asking for more money

Four qualities that define a successful investor

Meal Prep 101: A Beginners Guide to Meal Prepping - Budget Bytes

Terra, Abracadabra Stablecoins "Are Going to Zero": Maker Founder

It's time to Read like a Pro.

It's time to
Read like a Pro.