Returns as of 11/17/2021
Returns as of 11/17/2021
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Many new investors are worried they will make a mistake and fear they don’t have enough money to start buying stocks. But you can buy your first stock without having tons of capital and one way to start is by looking to companies that have brands you know and love.
In this Motley Fool Live video recorded on July 23, Fool.com editor Desiree Jones interviews Wealth Noir founder Damien Peters about everything investors should know about getting started buying stocks even if you don’t have a lot of cash available.
Desiree Jones: I’m just now learning about investing and talking about money. For me when I was raised, my parents didn’t tell me anything about investing. I have to learn myself about investing, which is why I’m glad I’m a part of The Fool because I’m able to learn and grow. Talking about money in the Black community is very important, especially right now during the pandemic. I will be trying to stay there with you. I’m still new. I’m new to investing and honestly and truly, I personally don’t think I can afford to invest right now because I’m working on my personal finances and all of that, so let’s talk about what are some budgeting practices do you think can help with when it comes to money.
Damien Peters: Ironically, outside of budgeting one thing actually I always tell people is to make more money. This can be as simple as asking for a raise or getting very intelligent about your own compensation and whether you should change jobs or not. But one big way I have built money and we oftentimes talk about a corporate job being bad or holding you back, but the truth is, it has funded a lot of my ability to build wealth. I focused on my career and I was able to do that. But in addition, I have always had more than one job. I’ve always had a side hustle. I’ve always built something on the side. In addition to wealth where I work, I have two other jobs that I work, so making more money, there’s a lot of options out there and people should feel comfortable using these tools and skills and what they have available to increase the income that they make. Some of the other stuff is things that you’ll hear all the time from anyone who talks about personal finance. Spend less than you make. Save and increase your savings rate. Even one thing I would say to you is you feel as if I can’t afford to save, but even if you were to start at $1 per month, something very, very small, the point is you participating in investing will increase your knowledge. It will increase the amount of attention that you pay in there, and when you are comfortable to put more money in, you won’t be trying to figure out what to do with this $10,000. You’ll be like, “Oh, great. I’ve been working with $1 per month, then $10 per month,” whatever it may be. Participate in the market, start investing and increase, and I always tell people either start with what you know or just start with something really boring. Invest in the entire U.S. stock market with one ticker symbol, and there are great sources like The Fool which really help give you the due diligence and some information about specific companies that you may not have considered or a place that you may not have thought about. Living below your means falls into that. It’s very, very easy to earn $500,000 and spend $550,000. Lifestyle creep is very consistent. It was something I worked on very much in my life between 2012 and 2015, so when I graduated grad school to when I was working at Facebook, my income had quadrupled over the course of the year along with my wife’s, but we still lived on approximately the same budget at the beginning. What I found was I had all this extra income coming in and that I could deploy the capital and put it into other places. One thing that I was able to do with that capital and wealth was take some time off from working and actually move to Spain for two years, so I was able to enjoy that. Understanding the amount of money coming in, understanding your expenses, and managing that, and being smart about investing the difference really makes sense. Really matters, and then some of the other stuff, which is hopefully everyone has heard about before about having an emergency fund. The truth is, even when it comes to your investments you don’t want to be pulling from them because your car broke down or something along those lines. If there’s a large downturn, you don’t want to feel overtly nervous because you really live off or need that money, so having an emergency fund, three to six months, just in case there is a downturn. In case there is a health situation that shuts down everything, is really important, and then prioritizing high-interest debt in particular. Credit cards, number one up there. Typically, I say if the percentage you’re paying on your debt is low, 3% to 4%, things like that. It may not be the most important thing to prioritize that as opposed to investing that money, but if you’re paying 15%, 20%, 25%, 30% on any type of debt, get rid of that because that is a drag on your entire portfolio that needs to be made up somewhere.
Jones: At the Motley Fool, we are all about empowering all people to invest for long term. What’s should Millennials and people of color know about getting started with investing?
Peters: Going back to something that you said is get started. It’s way easier now to start with small sums of money. Many companies offer fractional shares, you don’t have to buy a whole share if you can’t buy the whole thing. There’s online apps to make it very easy to invest and understand. You can take a small amount of money and get started if you don’t know what to invest in, invest in everything and buy ETFs, index funds again for the whole market. But you can also deal with staples that you know and love. People invest in Nike (NYSE:NKE) because they love Nike, people invest in Coca-Cola (NASDAQ:COKE) because they drink Coca-Cola. For the most part, if you invest and you continue with it and you have a long-term outlook, it’s relatively hard to truly lose your money or lose money investing in good companies for a long-term period. Automate your investments, you don’t want to have to think about it. Have your retirement investments come directly out of your paycheck, have the money that hits your bank account, have a portion go directly to your brokerage account or to your investment account or to your emergency fund, and then move from emergency funds to somewhere else. But there are many ways to get started. Stocks are a very, very easy way. A lot of people I’ll talk to, they really want to invest in real estate, want a rental property, but they need to save $30,000 to $40,000 or $10,000 to get in or they need to learn a lot. In the meantime, I tell them, “Invest in stocks, use a robo-advisor, buy index funds.” Put your money to work so that when you’re ready for the next move or your next investment, that it has been growing and working actively in the background. Especially now in the time of uncertainty, with a lot of things happening. Now is a good time, as anytime is. Now is always the best time to start investing or yesterday, I should say. As the old adage goes, “Time in the market almost always beats timing the market.” By investing early and staying and participating, that’s how you really unlock wealth as opposed to trying to find the hot swing trade.
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Browsers based on Chromium will no longer allow users to delete default search engines from the settings – Ghacks Technology News
Most web browsers ship with a bunch of different search engines that you may switch to, if you are not a fan of the default option. In addition to changing the provider, you may delete the default search engines from the list. But it appears that Chromium based browsers no longer allow you to do it. This change does not affect the option to set your default engine, you just won’t be able to the preloaded providers. That’s not necessarily a bad thing per se.
A reddit user reported that Microsoft Edge has removed the ability to remove default search engines from the settings. While it is true, another user pointed out that it is not a change in Edge, but in all Chromium-based browsers. Some users says that this only affects the Windows version of the browsers, and that the Linux variants have the option.According to a commit on the open-source project’s page, the proposal to remove the delete button was made in October 2021. The developers felt that deleting the search engines was too easy, and that it was a bad thing because it would not be easy for users to add them back, as it is not possible to set the search provider for suggestions, new tag page and other specialized URLs. Following a small discussion which concluded that deleting a search provider could cause more problems than it would break, the change was approved a day later when Chromium 97 was released.Chrome 97 was released about ten days ago, and it became the first Chromium-based browser that removed the delete button from the Manage Search Engines page. Microsoft, Opera and Brave have followed suit in removing said option from their respective browsers.As of now, only Vivaldi, which is still based on Chromium 96, has the option to delete the default search engines. When the browser gets updated to the code based on Chromium 97, it will likely not allow users to remove the search providers. Firefox and Waterfox do not prevent users from deleting the built-in search options either.Chromium-based browsers will continue to allow the user to edit the keywords but not the URLs.You can still add custom search providers if you want to, and this allows you to edit the search parameters.I think this change may not affect most users. It is a precautionary measure that could end up protecting the user in the event a malware tries to delete the default search engine, or hijack it. That said, if a malicious extension, toolbar or website, manages to use the add search engine option to inject a harmful search provider in the browser, and set it as the default provider, it wouldn’t be stopped, would it? That is likely a very rare scenario, one that can easily be prevented by using an ad-blocker like uBlock Origin, avoiding illegal websites, and good old common sense of not clicking links randomly.
I will admit that I find it surprising that the removal of a simple feature in Chromium’s source code impacts every browser that uses it as the base, do they have a choice? This does give Google an advantage over the competition. This got me wondering about what could happen when Google decides to kill support for v2 add-ons, and forces extensions to use Manifest V3. Will it impact other browsers in the same way? I mean, if there is no webRequest API that can be used, what could they possibly do except to rely on their own built-in ad-blockers?
What do you think? Should browsers allow you to delete the default search engines?
Welcome back to Firefox 🙂
You can’t delete search engines in FF – only hide them. And they also removed the option to add one manually some time ago.
download source code and make the that you want
Jony, the source code of chromium can also be downloaded and do the same. So what you are talking about? If a chromium fork wants to add the code to their fork to delete search engines they can. But they don’t seem to care about this to add it. Well, let’s wait for Vivaldi, they may care about it.
@Neutrino: in Librewolf, a FF fork, you can remove search engines.
You can remove search engines in Firefox by clicking the ‘Remove’ button under the list. You can still add OpenSearch-compatible search engines (through a icon with plus-sign showing up under the address bar, a bit convoluted). Adding search engines entirely manually and from scratch requires the use of an add-on, but still possible.
I have the button “remove”
No. FF 96: I can remove and leave only my own custom ones (added manually).
As if, lol. Grab a dictionary and look up the word “desperate”, my man. Firefox is a lost cause and an inability to remove search engines (Why would I even do this?) won’t change that.
Yeah, but more desperate or deep down drowning with bunch of crap for one coward browser…
Oh my! What will your life revolve around when Firefox is gone? /s
Things we should consider:
Is there any browser topic that Iron Heart does not troll?
Does it make him feel good or think he has accomplished anything when he does?
Has any of his “technical” information ever convinced anyone of anything at anytime?
Dear Mr. Troll Heart, you may desire and indeed feel compelled to respond, but please know that I will not take the time to read your response as I will not come back to this particular thread.
When Google stops needing Firefox and stops paying them to give all their user data to them, Firefox will shut down and you will be coming to Chromium. 🙂
Why do you care what happens to Firefox or what browser we use?
Why do we care what your opinion is?
Why do you want to share something that adds little value?
Don’t think it much matters. Bing (it’s called an accelerator, wtf?) could never be deleted from IE. Search providers deleted from FF still remain in about:config and there’s an easy switch in Settings to restore all the defaults.
Having Amazon, Wikipedia, ebay, etc., as default search providers is bizarre unless you use a particular browser for only those sites.
Not being able to delete a browser’s built-in search engine doesn’t appear to me as problematic, as long as you can disable them and add new ones. Firefox itself doesn’t allow to delete them (even if you do it the dirty way — right from the search.json.mozlz4 file — they’re reinstalled on Firefox start). Personally I’ve added 36 search engines to Firefox and disabled all the native ones. No idea if Chromium-based browsers allow the user to install external search engines…
EDIT : “Firefox itself doesn’t allow to delete them (even if you do it the dirty way — right from the search.json.mozlz4 file — they’re reinstalled on Firefox start).”
In fact the user can “delete” them in that they won’t appear in the browser’s search engines’ list, but in fact they’re only hidden and still appear in ‘about:debugging#/runtime/this-firefox’. No big deal if your ennemy being out of sight is enough without requiring him to be out of life, lol. This is semantics. All we may want is our engines and native ones out of the way, if applicable. Moreover I haven’t digged the exact search url content of FF’s built-in engines but let’s not forget that a search url can include more than the required search query…
They will be added back (enabled back) after next browser update.
I’m testing the newest Vivaldi snapshot based on chromium 98 (98.0.4758.50) the option to remove search engines is still present and working as expected.
Which makes sense, since Vivaldi doesn’t rely on the Chromium UI for this purpose.
Yeah, another lame disinformation post. Latest Vivaldi snapshot based on 98.x can remove search engines. More like circushacksnews…
Just curious whether Brave Version 1.34.80 (Chromium: 97.0.4692.71 (Official Build) (64-bit)) have changed that, and yes there’s no possibility under settings to change that anymore, the URL is greyed out for the preinstalled search engines.
Hopefully there’s no way to exploit this.
FF is my primary browser and Vivaldi Snapshot (v98) is my default chromium browser. Vivaldi is showing a “Delete” option in the settings but I suspect that it doesn’t really remove the search engine but instead just hides it. Reason being… I also see a “Restore Defaults” button.
Either way, as long as I don’t have to see search engines that I don’t use I’ll be happy.
This is the behavior of all browsers in reality, I think. Both Blink- and Gecko-based. The search engines are hidden, not deleted.
Firefox is the only browser (imho) that allows to recover all deleted default browsers. :]
For Chrome I don’t know but for Firefox it’s been like that since long time ago.
If you check the profile folder, the files are still there.
Opera hasn’t allowed you to remove the default search engine since version 15.
Isn’t one of the biggest advantages of an Open Source Software – to change everything you want?
How come that Brave and the others should follow suit and not be able to disregard the change?
Please, explain to the dummy 😛
> How come that Brave and the others should follow suit and not be able to disregard the change?
Explain why anyone would need to reverse this? The search engines are sitting there rather passively, if you are not actively using them, you need not care about the options offered.
>change everything you want.
Why should they bother? Every non ChromeZilla browser these days is just a wrapper around Chromium – they attach their additional bells and whistles and use whatever Google updates every couple of weeks. Changing the core means more maintenance headache for them and it’s not like Google will ever accept upstream patches.
> Explain why anyone would need to reverse this? The search engines are sitting there rather passively, if you are not actively using them, you need not care about the options offered.
If they are not being used, why do they need to still be there and not uninstalled? seems pointless to have something installed if not using it, and if a user chooses to delete them, it should be deleted and not simply hidden.
I mean what is the point of any browser not allowing them to be removed and deleted? In my opinion if a user removes them, then begone! So tired of the big machine dictating the narrative for which all other browsers follow or suffer their wrath. Google, Chromium, Firefox for that matter, should not babysit the ignorant by making the browser idiot proof. The browsers should break so that the idiots that toggle or mess up a setting or remove something, has to fix their mistake. The coddling approach is exactly why this type of crap happens.
It had to whip a storm up in somebody’s teacup!
The main issue is we can still install whatever search engine we prefer, set whichever we prefer as default and the browser retains our preferences between restarts and updates.
Nothing is “installed” … They’re just strings that define a url and search parameters for that URL that you can enable or disable in the settings. They’re functionally no different than any other settings. You can calm down
My issue right now is that their is a bug in my computer after downloading a McAffee protection software where if I close out Chrome or shut down my computer, when I reopen Chrome the default browser is Yahoo. Which is arguably the most annoying thing to ever happen to me on a computer.
I have no idea how to fix it now because I have Yahoo and Safe Yahoo (McAffee) within my default browsers and i cant delete them. This happened to me on a different computer but i didnt connect the dots that it was through the McAffee software. This sucks lol
According to https://bugs.chromium.org/p/chromium/issues/detail?id=1263679#c10 the delete function will return in Chromium 98 or 99…
I’m looking for a hack or methodology to remove all but the default search engines I desire. As a professional who’s cleaned up too many computers from secondary click bate provided by unwanted search engines, I prefer to protect users by giving them freedom to remove search engines they do not desire. While I can look around and find the underlying structure, I would be greatful if someone else has already located where the code placing these items is stored. My secondary alternative will be move clients to alternatives, but would prefer to resolve this.
Nice information. Anyway Edge does not allow to delete them. By the way, Mozilla Team please add Ecosia to default search engines. Thanks @Ashwin! :]
Point of order, Mr Chairman: Opera has never allowed the removal of its default search engines, even before this update. In fact, you can’t actually change the default search engine beyond Opera’s preapproved list…
You could in the old Presto-based Opera
> Opera has never allowed the removal of its default search engines, even before this update. In fact, you can’t actually change the default search engine beyond Opera’s preinstalled list…
Confirm this. Opera does not allow you to delete a search engine, or change to a custom one (only one of the “default” (pre-installed) ones, and they almost all have a built-in tracking tag so that Opera gets money from “clicks” and they can track the ‘clicks’ of Opera users).
This situation has been going on for years, I believe that since the transition to blink (in the original Opera Presto change and delete was certainly possible).
This is one of those changes Microsoft begged daddy Google to implement for them for their browser’s sake.
“Following a small discussion which concluded that deleting a search provider could cause more problems than it would break, the change was approved a day later when Chromium 97 was released.” >>> If so, then just add a button to recover them all like Firefox, you clever people! :]
Soon you won’t be able to make any changes in any browsers. I feel sorry for future generations that rely on technology.
You * [Editor: removed, please stay polite] are missing the point.
Ashwin is pointing out that the browsers based on Chromium lack the mental acumen and programming expertise to make changes in the Blink browser engine (Google, of course, can do it, but Google is the driving force in forcing Manifest v. 3 to all Chromium based browsers, to protect their advertising revenue business, so Chrome will have Manifest v. 3 in January 2023).
Despite all the lies by the makers of the Chromium clones (Opera, Vivaldi, Brave, etc.), when Chromium deprecates Manifest v. 2 in January 2023, the Chrome clones (Vivaldi, Brave, etc.) don’t have programmers with the ability to restore Manifest v. 2; therefore all Blink based browsers (Chrome, Vivaldi, Opera, Brave, etc.) will eventually use Manifest v. 3.
After January 2023, the Chromium clones (Opera, Vivaldi, Brave, etc.) will try to base their browsers on the last version of Chromium that supports Manifest v. 2, but eventually, due to not being able to patch all the security holes, they will be forced to update to the latest version of Blink that only supports Manifest v. 3.
Chromium clones (Opera, Vivaldi, Brave, etc.), can only program on top the Blink engine, they are not able to make changes in the Blink browser engine (Google could fork the Webkit engine, because they have alot of $200,000+ a year programmers and tons of money, while Opera, Vivaldi, Brave, etc. don’t have the programmers or the money).
The programming done by the Chromium clones (Opera, Vivaldi, Brave, etc.) are trivial, like putting lipstick on a pig. The Chromium clones (Opera, Vivaldi, Brave, etc.) will be the Waterfoxes/Pale Moons of Chromium, ROTFLMAO!
* [Editor: removed, stay polite]
So much nonsense. The Chromium clone devs are not trying to keep Manifest v2 alive; instead their main USP is to include a built-in adblocker (with varying levels of effectiveness and success) that does not rely on the extension framework. Opera, Vivaldi and Brave all have an adblocker in place right now.
A couple of points:
1. The last time I looked (just now), Blink was licenced as both BSD and LGPLv2.1 – both being free software licences. Having established that, I fail to understand how “they are not able to make changes in the Blink browser engine” when they have access to the Blink source code.
2. Are you able to furnish this readership with the evidence to back up your claim that Brave for example, does not have the programmers or the money to hack the Blink source code to meet their requirements?
Because a browser engine is a massively complex piece of code and they are not doing a hard fork like Pale Moon did of Firefox. They are simply using the latest Chromium build put out by Google directly. If they made any changes to that source, they will have to maintain it themselves with every future update to Chromium and they don’t want to do that. Google too unlike other open source projects, isn’t interested(for obvious reasons) in accepting their modifications as upstream patches to directly incorporate them into Chromium for future use.
Why doesn’t everybody just choose their preferred search engine, create a bookmark for it, then click on that bookmark when you want to do a search? If that’s too much work for you, try creating your own browser. Good grief.
Its a bit like If user can’t remove a search engine from their sight, chances are one day user will use it to just check them out. Afterall how many are going to create a custom Google search engine with URL instead of just use built-in one. Marketing strategy as always from Google.
Vivaldi will not have code updated to Chromium 97. Vivaldi is following Extended channel. LOL! Next Vivaldi 5.1 based on Chromium 98.x can delete default search engines!!
Another disinformation post on Vivaldi browser…!!
Evil corpos doing oss. What could possible go wrong.
This is a perfect example of why it’s a really bad idea to base a
browser on Chromium. Google has control of the features and code.
Ok, fine. Now give us the ability to turn off the “change default search engine” popup suggestion that our 80 year old parents just click ‘ok’ on without reading the prompt.
I really don’t see the problem. You can still choose the default search engine you want, it’s not like they’re saying you’re no longer allowed to change it. Just means search engines you choose not to use will still be in the list, and you’d have to be very ‘anti’ a search engine to get in a huff over the inability to remove it as a choice.
The decision to remove the ability to delete default search engines in itself is not that big of a deal. But the danger is if users accept it without putting up a fight, what is the next step? Eventually making it more and more difficult to choose your own search engine…
Well, Opera doesn’t even let you put a custom search engine as default. so there can be worst things than not being able to remove Google or Ecosia or garbage like that.
I have to guess Brave Team will add the setting back if people want it, but I don’t see it a problem to have it living there in settings, I only not type :g and I will not remember I have google in my search engine list.
I’ve never deleted a search engine, not sure what the point of that would be. You don’t have to use them, just set your preferred search to the default and you never have to see the others again. So really, who cares?
Absolutely agree 100% Squiggy… a lot of fuss about nothing.
People use this feature as a method to bypass search engine hijacking. It is also necessary for people who would like to manage the link used by the so called default search engines. But from what I saw on the development thread this feature will be restored in chromium 98 or 99.
Ridiculous! I am not a programmer; just a user. I think that removing the delete option is a detriment. Now, any one of those other unwanted search engines can take over my search events at any given time. I do not like them! I only like Chrome/Google! The onus is now on my to constantly monitor my default search engine, As I said, ridiculous!
If a search engine WAS able to change your default without your consent, they wouldn’t need to be in the list to start with…
“Now, any one of those other unwanted search engines can take over my search events at any given time.”
Uh, I’ve never heard that search engines were programmed to do such a thing.
“I only like Chrome/Google!”
I hardly know where to begin. Other than, Google is evil, arrogant, and a bully, and its products are spy machines and advertising machines, I’ll say just: “What the helllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll?”
Vivaldi announced yesterday that they hold the line with default search and will continue to give the choice to remove default search engines. See Twitter @vivaldibrowser
I am glad that I am still using Firefox.
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What's the best investment for a child's future? – MarketWatch
Financial stress ranked No. 1 on the American Psychological Association’s annual Stress in America survey this year. It has held this position every year since 2007 when the survey began.
It’s natural for parents to want to shield their children from some of this stress by investing money toward their future. However, the best strategies for investing in your child’s future might seem unclear.
Undoubtedly, these questions pose serious concerns for parents looking to help their children overcome financial stress.
Read: This is the most innovative financial literacy program in the U.S.
Before you start
When it comes to investing, the rule is usually that the sooner you invest, the better. But that doesn’t necessarily mean you should start investing for your child the day they are born.
Before pursuing investing for kids, you should have emergency savings set aside and confidence in your retirement funds.
In retirement, you absolutely need to have affordable housing, food and other necessities. If you can’t, it will be a burden to you as well as your child. It’s similar to how you need to put on your own oxygen mask before you assist someone else.
Help yourself first and then you’ll find yourself in a better position to aid others.
Paying for your child’s college or getting them started saving for retirement is ideal, but not as high of a priority. Get yourself to a place where you can “max out” your 401(k), especially if you work for a company that matches part of your contributions.
Financial advisers commonly say once you’re able to contribute 15% of your income toward retirement, that’s when you should start investing for your child.
This percentage might vary depending on your investment history. If you’ve worked toward your retirement since a teenager and have already saved a significant amount, this percentage might be lower. People who got a late start saving for retirement and want to catch up may need a higher percentage.
Read: 5 investment lessons that can make your working teen wealthy
Invest for your child’s education account (529 Plan)
When you start to invest for your child’s future, begin with a tax-advantaged savings account. A 529 savings account acts as one of your best options.
These plans can cover expenses related to K-12 tuition if you plan to send your child to a private school, cover college tuition costs and even other vocational education options.
These accounts accumulate funds on an after-tax basis with gains untaxed if used for qualified higher education expenses.
You don’t need to use the money at any one specific college, but can use it at any of the nationwide qualified colleges.
A 529 college savings plan works similarly to a Roth 401(k) or Roth IRA in that you invest your post-tax contributions in mutual funds, target-date funds or other investments.
Once your child begins college, money from the account can go toward eligible expenses, typically including tuition, computers, books, supplies, and housing (if the student enrolls at least half-time).
Room and board can’t exceed the “cost of attendance” figures colleges provide. Distributions can also go toward repaying federal and private student loans, including ones you refinance.
If you withdraw money for nonqualified expenses, the earnings portion becomes subject to ordinary income taxes as well as a 10% tax penalty. You can waive this penalty if the beneficiary attends a U.S. Military Academy, earns a tax-free scholarship, dies, or becomes disabled. The earnings would still be subject to tax, however.
Suppose your child doesn’t attend college. In that situation, you can switch the beneficiary to another qualifying family member, have yourself become the beneficiary and further your own education, use it for K-12 tuition (up to $10,000), or use the money to repay student loans (up to $10,000).
Funds can also roll over to a 529 ABLE account, which acts as a savings account for people with disabilities. If you have a willingness to pay the penalty and taxes, you can always withdraw your money for any reason.
Plans usually have minimum initial contribution requirements. After that, you can make automatic money deposits, contribute lump sums, or both.
Read: Why you should plan to leave money to your kids
Invest for your child’s future retirement
Helping your child start to save for retirement can put them at a significant advantage later in life.
If your teenager has a job like a lifeguard, fast food worker or cashier, you can open a custodial IRA in their name and invest.
A custodial account is a financial account maintained by an adult for another person, such as your child.
You would manage your teenager’s account until they reach the age of majority, which is either 18 or 21, depending on your state. These accounts transfer ownership and you can set them up to manage their own investments.
With the custodial IRA, you can open a traditional or Roth IRA. In either account type, select the best investments and watch the returns compound over time.
Opening and contributing to a child’s custodial IRA requires them to earn taxable income. Sadly, allowances don’t count and you can’t contribute more than what they make each year.
Keep in mind that even if contributions don’t seem large, contributing regularly over long enough periods can result in a significant impact to their bottom line. These contributions add up and grow through returns earned over time.
Because your child likely falls in a low tax bracket on their earnings, it usually makes sense to open a custodial Roth IRA to lock in low tax rates now and have their contributions grow tax-free for many decades to come.
Invest for your child’s future expenses
You can also save for your child’s future expenses without a specific plan for how those funds should be used. Uniform Transfer to Minors Act (UTMA) accounts and Uniform Gifts to Minors Act (UGMA) accounts are two beneficial types of custodial accounts that let teenagers invest.
UTMA and UGMA accounts come controlled by the custodian until the minor reaches the age of majority in their state of residence.
Unearned investment income in these accounts has the tax advantage of only facing taxes at the child’s rate. For example, a child under age 19 wouldn’t pay taxes on the first $1,100 and only 10% for the next $1,100. After that, money falls under the guardian’s marginal tax rate.
With these accounts, you don’t have to limit your contributions to the amount of money your child makes. No contribution limits exist, though anything over $15,000 each year (or $30,000 for a married couple) requires minding the federal gift tax rules.
Best investment in your child’s future
Having money doesn’t necessarily mean you have the skills for handling it. Therefore, it remains essential that you help your child develop good money habits and financial literacy so they know how to save and manage money.
This can mean controlling money from an early age to build comfort with money decisions, learning how to manage it with a piggy bank and eventually a bank account and debit card for kids, and eventually how to invest money on their own.
Make sure your child understands topics such as compound interest, investment diversification, and tax-advantaged savings vehicles. You can impart your personal knowledge, buy them financial literacy books, and encourage them to take financial courses in school.
However, nothing comes as useful as giving them some control over their money. They will make mistakes, but that will always represent an important part of learning. Invest in their future by giving teens and young adults the tools they need to succeed.
Riley Adams is a CPA and the author of the Young and the Invested website, which focuses on financial independence and investing.
Power of attorney can help loved ones make big decisions when you can’t
Selling photographs as NFTs: a pro travel photographer gives his top tips – Digital Camera World
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Marco Bottigelli explains how selling NFTs helped him find scarcity in an overly photographed world
”Photography still occupies a small niche in the NFT market space. In situations such as this, you must decide whether to remain a spectator waiting for the interest to increase, or invest your time and resources on being a pioneer of a movement. Thanks to the excess of free time resulting from the travel restrictions due to the pandemic, I decided to go for the latter.
What are NFTs and can photographers make money from them? How I sell my photographs as NFTs
Overall, as a creator, I strongly believe a skill that should never be lacking is curiosity. Despite a decade of experience as a professional in commercial travel photography, I found pleasure in sitting back and learning something new from scratch.
In the art market one of the main elements for defining the value of a work is scarcity, so the first paradigm I faced was how to make my photographs ”more unique”. I came up with the idea of going through a brand-new avenue; blending some of my favorite photos from recent years into surreal, evocative and intriguing composites, albeit with elements that are recognizable to an attentive audience.
Part of a travel photographer’s job is based on finding the best viewpoint over a landscape or a city based on elements from the real world. In the same way, the freedom of art (or rather cryptoart) has unleashed my imagination in finding new viewpoints over recognizable landscapes, in much the same way I search for a better imaginary viewpoint in the wideness of the Metaverse.
In May of last year my first series ‘Wanderlust’ was born – three works that project the observer through the subject on an iconic and dreamlike journey. Two of the three works were sold to collectors in the first two weeks of their publication. The third sold in November for 2ETH ($6,571).
Then, at the beginning of July I published my second series ‘Gondola Fairytales’, a two-piece epic tribute to the explorers, myth and legends from the history of Venice.”This article first appeared in Digital Photographer magazine
Marco Bottigelli is an acclaimed travel photographer and leader of international photography workshops spending his working life photographing some of the most beautiful locations in the World. With over ten years in the field, he finally turned a part-time job into a full-time travel photographer freelance career in 2015, focusing exclusively on producing high-end commercial travel images and accompanying customers across nearly every continent to experience the beauty and the challenging of the travel and landscape photography. He is the co-owner of clickalps.com, a Premium Travel Photo Agency based in Italy. Since 2021, he has been successfully selling his photographs as NFTs.
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