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A Registered Investment Advisor (RIA) is a professional firm that manages the assets of clients and offers investment advice. During your search, you may have learned about Registered Investment Advisor (RIAs). And how does a Registered Investment Advisor differ from all those other folks offering financial advice? What is a Registered Investment Advisor (RIA)? What does the "registered" in Registered Investment Advisor mean?

☆ The night the Lord of the Skies got away
▼ + stars: | 2022-07-22 | by ( Noah Hurowitz | ) www.businessinsider.com time to read: +38 min

It was May 1985, and Ramirez had only been with the Border Patrol for two and a half years. But he also knew that at the end of that road, just before the international port of entry, was a Border Patrol station. The Lord of the SkiesWithin a decade of that traffic stop, Amado would be the most significant drug trafficker in Mexico. It's the border," Ford told me recently when I reached him by phone. Ford and Amado didn't make a deal that night, but Ford said they agreed to "something tentative."

☆ Family offices have become a $6 trillion powerhouse in investing—and deal-making
▼ + stars: | 2022-07-11 | by ( Robert Frank | ) www.cnbc.com time to read: +11 min

Family offices now manage more than $6 trillion in wealth, according to some estimates, surpassing the estimated $4 trillion managed by hedge funds. Many billionaire hedge fund managers, seeking lighter regulation or freedom from benchmarks and outside investor demands, are also converting to family offices. Singapore recently created a Family Office Development Team to lead and coordinate initiatives that will attract more family offices. The Wealth Management Institute has launched the Global-Asia Family Office Circle in Singapore to attract more family offices. Even family offices that serve more than one family often receive an exemption from the SEC to keep their filings confidential.

Persons: Andrew Cohen, John Paulson, Leon Cooperman, That's, Exchange Sara Hamilton, Cohen, John D, Rockefeller, J.P, Morgan, Goldman Sachs, " Cohen, Morgan Stanley, Daniel DiBiasio, We've, Michael Dell's, Goldman, Gregg Lemkau, West, Byron Trott, Sara Hamilton, Nicky, Jonathan Oppenheimer, Sergey Brin, James Dyson, Bill Hwang, Alexandria Ocasio, Dennis Kelleher, Kelleher, Archegos, Hamilton Organizations: Street, Morgan Private Bank, Forbes, Federal Reserve, Campden, Family, Exchange, JPMorgan, Bank of America, Citigroup, Credit Suisse, UBS, Deutsche Bank, Morgan Stanley Family, MSD Partners, Container Technologies, BDT Capital Partners, Wealth Management Institute, Google, SEC, Archegos Capital Management, Rep, Better Locations: Asia, U.S, Wall, West Monroe, Singapore, Alexandria, Cortez, Archegos

The BlockFi Rewards Visa® Signature Card initially launched with an annual fee, but it's been removed. Deciding whether to open a Bitcoin credit card relies on understanding the volatility of the market. Does the BlockFi Rewards Visa® Signature Card have an annual fee? Ultimately, this is the most important question in helping you determine whether this new BlockFi card — or any crypto-based rewards credit card — is a good fit for your finances. It's a bit more work — with additional implications on your personal finances — to open and close a credit card.

Financial educator Soledad Fernández Paulino joined Insider for our Re/Thinking Re/Tirement Instagram Live event. On Monday, Insider hosted an Instagram Live event focused on early retirement with Soledad Fernández Paulino, a financial educator and founder of the blog Wealth Para Todos. Build a solid emergency fund"Before you start really investing aggressively, you want to make sure that you have an emergency fund. Traditionally, experts have advised that you keep three to six months of necessary expenses in emergency fund savings. "It depends on the financial security that you have in your life," said Fernández Paulino.

Persons: Soledad Fernández Paulino, Roth, —, Fernández Paulino, Roth IRAs Organizations: Financial, Service, IRA

☆ A 20-year-old Marine who makes $3,000 a month from real estate investments shares 6 books that got him started in everything from house hacking to short-term rental strategies
▼ + stars: | 2022-05-10 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +8 min

He shared with Insider six books that helped him get started in his real estate journey. In an interview with Insider, Adesada mentioned six specific books that helped him get started on his journey to financial freedom through real estate investing. "So by the end of that exercise, I had started developing a plan to buy my second property." Adesada hired her team based on the strategies in "Long-Distance Real Estate Investing" by David Greene, which instructed investors to choose "rockstar real estate agents" for markets outside of their local area. "It's really all the information you need to run a successful real estate property management company — not just own a property or two," he explained.

I asked financial advisors to share common setbacks to gaining a 7-figure net worth they've seen. Ignoring the backdoor Roth IRA option and being too risky with investments can set you back. That's why I asked some of the best financial advisors to share what the biggest setbacks they've seen clients experience trying to make it to that level. Advertisement"A Mega Backdoor Roth IRA allows high-income taxpayers to create a permanently tax-free Roth IRA, even if their incomes exceed the amount for traditional Roth ownership," said Colvert. "The last thing you want is an accident to put your hard-earned net worth at risk."

Persons: Roth, —, I've, Brian Colvert, Colvert, Billy Mondor, Mondor, Jay Zigmont, Christy Matzen, Matzen Organizations: Service, IRA, Roth

Tu says people of color shouldn't be afraid to ask their white friends about their salary and mortgage rates. The first appraisal with the Tates' family photos was appraised $455,000 less than the second appraisal with white family photos. Here are two simple questions that people of color shouldn't be afraid to ask their white friends. She adds,"If your white friends really are your friends, they will help and share their salary with you." Here are some additional questions people of color can ask their friends about their salaries:Did you get a raise this year?

Persons: Vivian Tu, Tu, they'd, —, we've, Wall Streeter, Paul Austin, Tenisha Tate, Austin Organizations: Service Locations: Marin City

I used the 'rosebud' cheatcode to make my Sims wealthy without working, and I kept looking for the same cheatcode in real life. Now that I'm older, I realize building wealth isn't the same as the instant gratification of entering the 'rosebud' cheat. I romanticized the idea of cheating my way into wealthAside from basic financial management, I learned about the 'rosebud' cheatcode. Coupled with extra exclamation points and semicolons, the 'rosebud' cheatcode could put millions of simoleons (Sim dollars) into my Sims' bank accounts. I thought their families found the 'rosebud' cheatcode to wealth, and I was desperate to figure out how to do the same thing.

A fee-only financial advisor will be one you'll come across during your search. What is a fee-only financial advisor? A fee-only financial advisor is an advisor that's paid on a set rate based on the services they provide a client, rather than being paid based on commission. The financial takeawayWorking with a fee-only financial advisor can be a great way for clients to get fiduciary financial advice that's in their best interest. "Working with a fee-only advisor minimizes conflicts of interest, but just because someone is a fee-only advisor does not inherently mean they have the particular expertise you are looking for," says Brandon Renfro, CFP and owner of Belonging Wealth Management.

Some money decisions call for reinforcement from a financial planner, who can help organize your overall financial picture, or focus on specific financial needs. 7 reasons to hire a financial plannerHere are 7 reasons you should consider hiring a financial planner. If this sounds like you, consider consulting a financial planner to formulate an investment strategy that satisfies your risk tolerance. There are a few things you should know about any financial planner you're considering in advance of booking an appointment. And by working together with a financial planner, you can work your way to achieving your financial goals — and financial freedom.

Welcome to Personal Finance Insider, a biweekly newsletter that connects you with the stories, strategies, and tips you need to be better with money. Rachel Mendelson/InsiderHere's what: We built you a road map to the perfect homeDreaming of homeownership? Last week, Personal Finance Insider published a comprehensive guide to nabbing your first home. Start by taking our quiz to see if you're really in a financial position to buy a house. You can check out the whole series right here.

Select asked Brian Stivers, a Financial Advisor and Founder of Stivers Financial Services, to help us calculate exactly how much money 25-year-olds should invest each month to become a millionaire. Here's what we found:A 25-year-old making investments that yield a 3% yearly return would have to invest $1100 per month for 40 years to reach $1 million. If they instead make investments that give a 6% yearly return, they would have to invest $530 per month for 40 years to reach $1 million. But if they choose more aggressive investments that yield a 9% yearly return, they would only need to invest $240 per month for 40 years to reach $1 million. As we can see, a higher return can allow you to invest less money each month and still achieve the same goal.

Have a blend of permanent and term life insuranceThere are two types of life insurance: permanent life and term life. She recommends blending permanent and term life insurance, because permanent life insurance is a tool to build wealth and leave a legacy in the Black community. She said, "If you can't afford permanent life insurance, then get a term life insurance policy with the goal of converting it before the end of the policy." Convert your term life insurance to a permanent policy to prepare for retirementGlenn notes that life insurance is the optimal way to prepare for retirement. When you make the conversion from term life to permanent, understand that there are different types of permanent life insurance policies, like whole, universal, and variable life.

☆ Private flight attendant life — Apocalypse-ready SUV — Working in Bora Bora
▼ + stars: | 2021-09-03 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +3 min

We're back at it this week with an edition of Insider Life that's filled with light reads for your Labor Day weekend. Today we'll introduce you to a private flight attendant who makes $800 a day catering to VIP guests, show you an SUV designed by one of the world's richest men, and give you a glimpse into life at one of Bora Bora's five-star resorts. Courtesy of Jamie GibsonJamie Gibson, 28, spends her days catering to the rich and famous as a private freelance flight attendant. Four Seasons Bora BoraAs a villa host at the Four Seasons resort in Bora Bora, 38-year-old Giovanna Vargas is guests' go-to resource. She gave us a look into a day in her life in Bora Bora.

☆ Renting isn't a waste of money, no matter what your parents say
▼ + stars: | 2021-06-29 | by ( Libkane | ) www.businessinsider.com time to read: +4 min

Personal finance pros Pamela Capalad and Kelly Lannan joined Insider's Master your Money virtual event. They broke down why renting isn't necessarily a waste of money, and why buying isn't for everyone. But the idea that renting a home is inferior to buying one isn't necessarily an accepted truth — it's an opinion, and one that not everyone shares. Buying isn't for everyone, even if you can afford it"It's never throwing away money to put a roof over your head, period," Capalad said. While buying a home is a financial transaction, money is only part of the decision.

☆ Ethereum's path to $40,000, plus 5 stock picks from Baillie Gifford
▼ + stars: | 2021-05-09 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

Here's what's on the docket:If you aren't yet a subscriber to Insider Investing, you can sign up here. Wang also laid out a valuation framework that explains how the red-hot cryptocurrency could eventually reach $40,000. Read the full story here:Dave Bujnowski Baillie GiffordDave Bujnowski is an investment manager for the $144.9 million Baillie Gifford US Equity Growth fund, which returned 125% in 2020. He shares 5 stocks set to benefit from the end of the pandemic and a hyperconnected economy. For more tips, tricks, and best practices on your path to financial success, tune in Tuesday, May 18 at 12 p.m.

I have many wealthy financial planning clients, and they all share four habits. They maintain a long-term focus on their financesIt is easy to get sucked into day-to-day market swings and financial temptations. Put simply, they have a long-term plan that they keep front of mind when they are making daily decisions. However, it can be hard for us to remove the emotion from daily market swings and maintain a long-term focus. This is something my millionaire clients fully embody, and allows them to see the fruits of that pre-planning and compounding interest.

Persons: doesn't, Get, Read, Warren Buffett Organizations: Service, Federal, Berkshire Locations: Wall, Silicon, Omaha

If you don't need your stimulus check money now, you could consider investing some or all of it. You can choose to go through an online brokerage, automated investing app, or a financial advisor. You typically won't be able to buy options through an automated investment app, but most online brokerages offer them. You should only invest your stimulus check if you don't need the money right now. Rickie Houston is a wealth-building reporter at Personal Finance Insider who covers investing, brokerage, and wealth-building products.

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). These are the best personal finance books by women for 2021:If you're lounging around and looking for a good read that can help you get your personal finances in order, we have a list of goodies for you to consider. Below is a compilation of great personal finance books authored by inspiring women. Whatever your income level, this book can help you understand how to stay on track when it comes to your personal finances. It's an effort to prove that personal finance should be simple by fitting the things you need to know about managing money on a few index cards.

Property taxes : Tax liabilities vary from state to state and within each state, amounts can differ from town to town. : Tax liabilities vary from state to state and within each state, amounts can differ from town to town. Some of these costs include lawn care, landscaping, trash pickup, and minor fix-ups. Some of these costs include lawn care, landscaping, trash pickup, and minor fix-ups. : Amounts vary based on whether it is heating or cooling season, but homeowners still must take these costs into account.

Without a good credit score, buying a home or borrowing money is more difficult, holding Black Americans back from building wealth. To understand the impact that credit scores have on the racial wealth gap, it is important to understand the history of the credit system. On a 30-year, $200,000 mortgage with a FICO credit score between 700 and 759, one could expect to receive a 2.56% interest rate. But a person with a credit score between 660 and 679 could end up paying an additional $14,914 — 677 is the average credit score for African Americans compared to white Americans at 734. Indeed, the credit gap is just another symptom of systemic racism, and finding ways to achieve parity in employment and wages would go a long way to closing the credit gap.

Warren Buffett is a skilled investor who is studied, analyzed, and imitated by many. But the "secret" to Buffett's immense wealth is simply how long he's been investing, writes Morgan Housel in his new book "The Psychology of Money." "Effectively all of Warren Buffett's financial success can be tied to the financial base he built in his pubescent years and the longevity he maintained in his geriatric years," Housel writes in his book. And if you invest money at the level of someone like Buffett, the results become "ridiculous, impractical numbers," Housel writes. High returns are nice, of course, but they're difficult to come by and not the only way to build wealth, Housel writes.

At age 27, my dad passed away and I inherited a retirement account from him worth $50,000. I could have used the money to pay off my student-loan debt, but I would have had to pay penalties and taxes on the entire balance. Although I inherited around $50,000 and had roughly the same amount of student-loan debt, I decided to keep most of that money invested instead of paying off my loans in full, and I'm glad I did. I was working as a teacher at the time of my dad's passing and was making more than the minimum payments to more aggressively pay down my student loans. I could have kept that money invested or cashed it out to pay off the rest of my student loans, but there were trade-offs to those options as well.

I was encouraged to start saving for retirement at 24 because my job offered a 401(k) with a generous match. Pick a tax-advantaged retirement account that makes sense for your financial situation and goals, and set up automatic contributions. When it comes to retirement, saving something is always better than saving nothing, so don't be too hard on yourself if you haven't made it a priority until now. Pick a retirement account (or two)Get familiar with the features of each type of retirement account. She writes most frequently about saving money, planning for retirement, taxes, debt management, and strategies for building wealth.

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