Break-Even Point – Napkin Finance
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noviembre 21, 2017

Break-Even Point

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The Fed is the central bank of the U.S. Its overar The Fed is the central bank of the U.S. Its overarching role is to make sure that the country’s economy and financial system function smoothly. “The Fed” isn’t really just one institution. It’s actually a network, made up of three key players: ✅ Board of Governors Seven members, who are appointed by the president and confirmed by the Senate. Sets policies on some interest rates, issues regulations, oversees banking activities and the regional Federal Reserve Banks ✅ Federal Open Market Committee Board of Governors plus five regional Federal Reserve Bank presidents. Sets the federal funds rate target (the interest rate you most often hear about in the news) ✅ Federal Reserve Banks Twelve banks in major cities around the country, including San Francisco, Chicago, and Boston. Oversee banking activities within their set geographic areas While monetary policy—changing very short-term interest rates to help control inflation and stabilize employment—is perhaps the Fed’s most vital role, it has a few other jobs, including: ➡️ Supervising and regulating banks: I.e., protecting consumers, promoting safety in financial transactions, and securing the nation’s financial system ➡️ Operating the national payments system: The Fed assists in electronic funds transfers, distributes currency to banks and credit unions, and clears checks ➡️ Developing other financial regulations: The Fed comes up with rules that banks and other financial entities have to play by Moral of the story: you can think of The Federal Reserve as the regulator of the U.S. economy, much like dating apps are the regulator of your love life. 🙃 Click the link in our bio or today's stories to learn more.
Do you know something else formed from a Napkin? L Do you know something else formed from a Napkin? Let us know below!
We've talked about #Trusts, now let's talk about # We've talked about #Trusts, now let's talk about #Trustees. A trustee can be an institution or an individual that is given the power to manage and administer someone’s financial affairs or a pool of assets. This can include managing property, overseeing financial accounts, or other types of financial decision-making. Trustees most commonly administer trusts, but they can also: ✅ Manage the assets of a charity. ✅ Oversee the investment of certain types of retirement plans or pension funds. ✅ Help manage the finances of a person who has filed for bankruptcy to ensure the person meets his or her obligations to creditors as dictated by the court. A trustee’s responsibilities include: ➡️ Investing and managing trust assets ➡️ Distributing trust income or assets to beneficiaries according to the terms set out ➡️ Approving or denying beneficiaries’ requests for money For example, if a young beneficiary wants to withdraw $20,000 from his or her trust to go to @coachella, the trustee has to decide whether or not to approve the withdrawal. Have you ever been a Trustee? Click the link in our bio or today's stories to learn more, as well as other Finance Facts in 30 seconds or less!
Always drive safely. 😉 Did you know that New Ha Always drive safely. 😉 Did you know that New Hampshire and Virginia are the two states that don’t require drivers to carry insurance? (Though in Virginia you have to pay a $500 annual fee to drive uninsured.)
A trust is a legal document that allows a person ( A trust is a legal document that allows a person (the trustee) to hold the assets of someone else (the grantor) and eventually give that property to a beneficiary at some point in the future. Many people view trusts as only for the uber wealthy who want to leave their riches to their kids. However, there are many reasons anyone might want to create a trust, including: ✅ Providing for family and friends in the future ✅ Paying education expenses for children or grandchildren ✅ Establishing a charitable fund ✅ Controlling how beneficiaries care for certain property and how it’s distributed ✅ Managing assets in case of disability or incapacitation ✅ Maintaining privacy after death ✅ Protecting assets from creditors ✅ Avoiding a lengthy probate process There are usually fees involved in setting up a trust. And, while you can go it alone with an online template, experts recommend meeting with an estate planner or attorney to make sure it’s exactly what you want. The process tends to look something like this: Choose what you’re putting in the trust (real estate, stocks, money, life insurance, etc.) ↓ Pick out the beneficiary or beneficiaries ↓ Set rules for asset distribution (e.g., after a child turns 18 or graduates college) ↓ Choose a trustee (family, friends, or even a professional) and talk through your plans ↓ Meet with an attorney to discuss your plan, review any tax issues, and draft the trust document ↓ Sign the trust document, preferably with witnesses, and get it notarized (if required or preferred) Click the link in our bio or today's stories to learn typical types of trusts and more.
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