Group 1: Economic Accountability Proposal - Senator Mike Lee is drafting a constitutional amendment to disqualify every member of Congress whenever inflation exceeds 3%, aiming to hold politicians accountable for fiscal responsibility [2][5] - The proposal has garnered support from notable figures, including Elon Musk, indicating a growing interest in fiscal accountability among influential individuals [2][3] - The concept echoes Warren Buffett's suggestion that Congress members should be ineligible for re-election if the deficit exceeds 3% of GDP, highlighting a long-standing issue of budget deficits in the U.S. [3][4] Group 2: Current Economic Context - The U.S. federal budget deficit for fiscal year 2025 is projected to be $1.8 trillion, approximately 5.9% of GDP, which is nearly double Buffett's recommended threshold [4] - The ongoing budget deficits have persisted regardless of the political party in power, indicating a systemic issue in managing government spending [3][4] - The idea of linking lawmakers' job security to fiscal health reflects a broader concern about the economic consequences of excessive government spending [1][5]

When a 401(k) balance starts to matter more than a bragging point, people in their 50s begin paying attention. This is the decade when retirement savings should be strongest and the stakes highest. According to Empower data, the average 401(k) balance for people in their 50s is $635,320. That looks solid until you see the median balance of $253,454. The median is a better reflection of what a typical person in their 50s actually has because it is not pushed upward by a few very large accounts. Don't Miss ...

By taking the $1,000 weekly payments, Aubin-Vega has effectively locked in a 5.2% annual yield on her jackpot. Since the payments are provided by the Canadian province of Quebec, this annual yield is nearly as safe as the yield on a government treasury bond. Canada’s 10-year bond currently offers a 3.4% yield, which makes Aubin-Vega’s move seem more financially savvy (5).Fortunately for Aubin-Vega, she’s Canadian and faces no taxes on lottery winnings (4). In other words, she could have claimed $1 million w ...

Financial Situation Overview - A 46-year-old individual is facing a financial crisis with approximately $110,000 in student loan debt and additional credit card debt totaling $18,000 from 22 credit cards [1][3] - The household income is primarily derived from a customer service job earning about $33,000 annually, supplemented by gig work through DoorDash [5][8] Debt Management Challenges - The individual described their financial management as "robbing Peter to pay Paul," indicating a cycle of borrowing to cover expenses [2] - Personal finance expert Dave Ramsey emphasized that borrowing does not resolve debt issues and criticized the plan to take out a consolidation loan [3] Income and Employment Insights - The individual’s husband is also engaged in gig work, working five to six days a week, but the income from such jobs is often reduced by taxes and expenses [5][7] - Limited job opportunities in the local area are noted, particularly for positions requiring a master's degree, which affects the ability to increase income [6] Age and Financial Outlook - The husband is nearing 50 years old, an age typically associated with higher earnings potential, yet the household continues to struggle with significant debt [8]

The old retirement playbook is cracking under pressure, and self-made millionaire Sam Dogen wants Americans to wake up before it’s too late. Under the classic model, American workers were said to be able to rely on three major sources of income in retirement: Pensions, Social Security and personal savings. But for Dogen, who retired at age 34 and now runs the popular personal finance site Financial Samurai, that model no longer works. Dogen, now 47, was able to walk away from his full-time job thanks to ...

One of the best ways to earn passive income is to build yourself an investment portfolio that does the heavy lifting for you. ...

Core Viewpoint - Warren Buffett expresses a strong aversion to gold as an investment, emphasizing its lack of utility compared to other assets that generate income or appreciation [1][2]. Investment Preferences - Buffett prefers tangible assets such as land, apartment buildings, or index funds over gold, highlighting that gold does not produce anything [2][3]. - He illustrates the long-term performance of gold versus the stock market, noting that while gold appreciated from approximately $20 in 1900 to $400 in 2000, the Dow Jones Industrial Average surged from around 60 to over 11,000 during the same period, providing dividends [2]. Asset Utility - The concept of utility is central to Buffett's investment philosophy; he favors assets that generate earnings, such as farms and businesses, over non-productive assets like gold [2][3]. - Buffett's preference for hard assets that produce income is evident in his comparison of selling candy in the future versus holding gold [3]. Real Estate Insights - Buffett has a positive view of residential real estate, stating that he would invest in a significant number of single-family homes if given the opportunity, considering them a very attractive asset class [5]. - His personal investment in real estate is exemplified by his Omaha home, purchased in 1958 for $31,500, which is now valued at approximately $1.4 million, showcasing long-term appreciation [4].

Christina Umerez was working a full-time job when she first started an Etsy store selling custom pet portraits in 2020 to make some extra money. Trending Now: Here’s How to Avoid a Huge Tax Bill After a Successful Side Gig For You: 8 Unusual Ways To Make Extra Money That Actually Work While she had the goal of eventually making enough money to quit her job and spend more time traveling, it wasn’t until she switched to a print-on-demand business model in 2021 that she realized her dream could actually beco ...

RT BSCN (@BSCNews)🚨 FOUNDER INTERVIEW: NEXT-GEN PASSIVE INCOME 🚨Join us on Monday when we go live with the co-founders @pecunity_app - an early-stage innovator in the DeFi sector...🗓 Monday, October 27th⏱ 1pm UTC🔗 https://t.co/bxTtmmSRtkWhy trade when you can earn passive income, regardless of whether we're in a bear or bull market? Park your stables and earn additional yield with DeFi strategies on Pecunity... 👀[Sponsored] ...

RT BSCN (@BSCNews)🚨 FOUNDER INTERVIEW: NEXT-GEN PASSIVE INCOME 🚨Join us on Monday when we go live with the co-founders @pecunity_app - an early-stage innovator in the DeFi sector...🗓 Monday, October 27th⏱ 1pm UTC🔗 https://t.co/bxTtmmSRtkWhy trade when you can earn passive income, regardless of whether we're in a bear or bull market? Park your stables and earn additional yield with DeFi strategies on Pecunity... 👀[Sponsored] ...