Bitcoin Cult, How to Buy I Bonds, Putin and Ukraine, Long Covid, Writing Online Economics

Another TBB post featuring the most eclectic links around the web such as going inside the Bitcoin cult, how to buy I bonds, Putin and Ukraine, all you need to know about long Covid, the economics of writing online, we travel to see waterfalls and Arabian deserts, Vanguard getting into bed with Amex, history of the AK-47, the death of gas stations, dust storms, solar plants, and a whole lot more. Enjoy the weekend, stay healthy!

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TRAVEL

These are nice: 21 Most Beautiful Waterfalls in the World. In my opinion, the most stunning one is Angel Falls in Venezuela.

Great video, Arabian Deserts From The Air.

I had never heard of The Lake Peigneur Drilling Disaster.

These are amazing: 30 Impressive Aerial Photographs By Cédric Houmadi.

 

PERSONAL FINANCE

You can justify anything based on what happened in the past in investing. But, at the end of the day, the future is uncertain and, you know, stuff happens. “There is a trend…until there isn’t” by yours truly lol. Anyway, this is the point of this article: Wrong Number.

By definition, all data are historical, but all decisions are about the future.

But under new rules, required minimum distributions (RMDs) from retirement accounts don’t need to begin until age 72. Meanwhile, the Social Security rules are unchanged. Benefits still hit their maximum at 70…And the rules may change yet again: Congress is now considering moving the RMD starting age to 75. 

When evaluating bonds, don’t dismiss bonds with low coupons and don’t be deceived by bonds with high coupons. Always look at yield. That’s the more important measure.

Is it just me who just throws up even looking at these clowns? ‘We’re a Cult’: Inside Bitcoin’s Shamelss Hyperfest.

“Once you get into bitcoin, there is no way back,” the man, whose name was Pablo, said over piles of women’s underwear emblazoned with the cryptocurrency’s logo. A sign behind him read: “Panties for Bitcoin.”

At a stand selling bitcoin-themed children’s books and promoting “bitcoin education for all ages,” a couple stopped to buy a “HODL Me Tight” onesie for their baby, who they had brought with them to the conference. Across the hall, a woman with overlined lips and bleach blond hair was selling a concept called “CommuniSea,” in which members purchased shares in a luxury megayacht with on-board chefs and private trainers. Each “share” gave members a certain number of points, which translated to a certain number of nights on the yacht—all for the low starting price of $395,000 a year.

“So it’s like a timeshare,” I said to the woman.

“No, no, no,” she assured me. “It’s like an NFT.”

You are hearing a LOT of buzz about I bonds lately. This is the best and most practical article about How to Buy I Bonds (Series I Savings Bonds: Soup to Nuts. I must caution you all to be careful about the suckiness of the treasurydirect.gov website, it makes DOS look high tech so if you get bogged down do not blame me because you have been warned! There are some ways to get around the $10,000 cap on purchases per year but it does require even more gymnastics with the website and just administering it all. NO DOUBT the interest rates are attractive! At this stage in my life I find it very important, in case something happens to me, my wife and kids are not burdened too much dealing with the aftermath. In more positive news, the government has been promising a website upgrade and an increase in the annual cap, perhaps up to $100,000 which will make it a LOT more attractive going down this hole…

You’re required to hold them for at least one year. After that, you can cash out at any time you’d like, or you can choose to hold them for up to 30 years from the original time of purchase. If you cash out within five years, you forfeit interest earned in the previous three months, whereas the early withdrawal penalty on a typical commercial CD is often six months or 12 months of interest. The flexibility to cash out after one year with a low early withdrawal penalty or to hang on for as long as 30 years makes I Bonds good for both short-term and long-term investing.

Similar to a CD, the value of I Bonds never goes down. They are guaranteed by the U.S. government. Unlike a typical CD with a fixed interest rate for the entire term, the interest rate on your I Bonds changes in six-month cycles. You stay on the current rate for the full six months and then you go on a new rate for another six months, and a new rate after that for another six months, and so on.

If Bogle was alive he would have a fit. With McKinsey helping to up its ‘efficiency,’ Vanguard Group does eye-opening client acquisition deal with American Express that layers a big fee onto financial planning offering that the two firms roughly split.  You know, you could get Vanguard’s offering directly cheaper rather than going through Amex! Anyway, we ‘ll see how this works out. It DOES have a great impact in the frequent flier/guest loyalty rewards space…potentially, that is. We’ll see, watch this space! The comment(s) cracked me up 😉