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December 10, 2023
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The Admiral Staff
A man is concerned about his wife’s plan to seize her friend’s business as collateral for a loan, potentially damaging their friendship. The agreement, notarized but potentially predatory, involves the friend’s business and possible employment for the friend if the debt isn’t repaid. An attorney suggests the agreement might be enforceable, though the notary’s role is limited to verifying identities, and predatory lending laws vary by state. The writer expresses distrust of his wife, noting a history of withholding information
December 9, 2023
By
The Admiral Staff
The article highlights the reality that most adults die with debt, often a significant mortgage. It promotes Bestow, a company offering life insurance policies that can be applied for and secured in just five minutes via a smartphone, without a medical exam. Coverage options range from $50,000 to $1.5 million, starting as low as $10 a month, providing financial security for families in the event of a loved one’s passing.
December 9, 2023
By
The Admiral Staff
The article cautions against the allure of day trading, arguing that it’s far more difficult and risky than it appears. Predicting daily stock returns is akin to a coin toss, and humans often misinterpret patterns as meaningful when they’re simply due to chance. Day trading also incurs significant expenses, including equipment, data services, and commissions. While some professionals succeed through sophisticated resources, most independent day traders struggle to achieve long-term profitability. The article suggests practicing with simulated accounts and emphasizes the importance of
December 7, 2023
By
The Admiral Staff
Several young professionals are finding success by offering coaching services related to their expertise, such as freelance writing, social media for nonprofits, and pitching to media outlets. These coaches often transitioned into this role after receiving numerous requests for advice related to their work. Key strategies for success include streamlining advice into accessible formats like podcasts, e-books, and online courses, diversifying revenue streams (e.g., audits, webinars, speaking engagements), and carefully pricing services to reflect the time and effort involved. Initial rates were
December 4, 2023
By
The Admiral Staff
The article discusses estate planning, even for those with limited financial resources, emphasizing that an estate includes all assets like bank accounts, cars, and homes. It highlights the complexities of probate, the court-supervised asset distribution process, and encourages avoiding it by designating beneficiaries on retirement and bank accounts. Five simple steps are suggested: making bank accounts payable upon death, reviewing beneficiary designations, creating advance directives for healthcare decisions, utilizing online will services for simple estates, and discussing final arrangements with family to prevent unnecessary expenses
