Another TBB post featuring the most eclectic links around the web such as how to deal with death and money, where the ultra wealthy live, the Top 10 surfing rides of all time, coping with my free travel addiction, latest Wall Street scheme to charge you more fees, we catch up with the latest in crypto and scams, how Putin’s Russia is burning its future, the amazing life story of NBA legend Rex Chapman, 11 top remote destination and of course always all of the important developments in the crazy world of miles and points and a lot more. Enjoy the weekend and get started on your taxes now!
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Welcome to my quirky original authentic blog. It all started back in 2012 focusing on my crazy hobby addiction of frequent flyer miles, hotel and bank points. It has since evolved to a curated at least weekly post of the best web content I find along with my commentary. Here to Educate primarily, sometimes Entertain and if I get to Inspire you, well, that is a bonus.
This blog publishes on Fridays. Sometimes it is a Thursday if I am traveling. This is a one man labor of love operation, enjoy it while it lasts. I may post on a Tuesday too going forward if I get to it.
PERSONAL FINANCE
Working as an independent fee only financial planner we experience the joys of life with our clients achieving their cherished goals. And along the way the births of children and grandchildren, the weddings and of course the tough breaks life throws at us as well, including health challenges. And sadly, death. This is a great post with really good advice about this subject we will all have to deal with at some point: 9 Lessons I’ve Learned About Death and Money. Take care of your affairs to become less of a burden to your children.
Also, guard your wallet on Wall Street as it is always trying to separate you from it: When Wall Street Rolls Out the Red Carpet for You, Who Pays? The investing business thrives on fees. No wonder it’s pile-driving investors into private assets.
Today, with fees on index funds and exchange-traded funds shrinking toward zero, Wall Street can no longer thrive by selling funds that invest in public stocks and bonds. No wonder it’s pile-driving retail investors into private assets, formerly the exclusive province of ultrawealthy individuals and institutions. The costs at alternative funds—hundreds of times higher than at index funds—have barely dropped in decades. A recent study found that, on average, for every dollar of return they generated from 1995 through 2016, hedge funds harvested 64 cents in management and performance fees. Lately, at some leading hedge funds, expenses have even risen—to as much as 5% to 7% annually. At private-equity funds that invest in buyouts, fees tend to reduce gross returns by about 6 percentage points annually, according to a recent survey of research.
Where do the ultra wealthy live? There are 225,077 people with net worth over $30 Million in the US. What jumps out at you looking at this? None are in South America, hmmm.
CRYPTO & SCAMS
While bitcoin’s price has surpassed its previous high, as Molly White explains in her latest dispatch about the crypto space, what stands out is that, you know, nothing really has changed. Still almost 15 years later there are no widely used applications for it other than scams/fraud/ransom/drugs/terrorism/etc. Be careful out there ok? Have fun choosing rich I guess smh. So many grifters and weirdo scammer bros in this space, it just boggles the mind.
So, what is happening then? Well, More People Buy, Number Go Up. As I was saying…
This rally is so different because no one is beating around the bush anymore. It’s not about technology. It’s not about use cases or improving the world. It’s just, “More people buy, number go up.” The veil has been lifted and we all know it. It’s a momentum trade plain and simple. We turned a bunch of computers into a casino and then dressed it up as something else.
Meanwhile, this is likely going to get even worse with AI: A Record $12.5 Billion Lost to Internet Crime in 2023.
Watch out, scammers can now mess with Social Security benefits: How Fraudsters Break Into Social Security Accounts and Steal Benefits. Alert family and friends about what is possible these days.
Some of these Christian men of God are the worst. Like this guy: Brooklyn’s ‘bling bishop’ found guilty of wire fraud, extortion and lying to FBI. Lamor Miller-Whitehead first attracted media scrutiny when he was robbed of $1m in jewelry during a livestreamed church service.
Miller-Whitehead embraced his flashy lifestyle. The so-called “bling bishop” was known for driving around in a Rolls-Royce, and records show he lived in a $1.6m home in Paramus, New Jersey. He also owned apartment buildings in Hartford, Connecticut. [Jesus!]
GEOPOLITICS
Great podcast: Fiona Hill: Working for Trump, Dining with Putin.
What a waste, such a rich country just wasting away its people and dwindling resources. Russia Is Burning Up Its Future. How Putin’s Pursuit of Power Has Hollowed Out the Country and Its People.
Putin started his war to change the world order and force everyone else to live by his rules. For that, he needed to position his country and its zone of geopolitical influence against the West and the modernizing project it represents. These goals account for Putin’s readiness to embark on territorial expansion: many other countries are moving forward, transitioning to other types of energy precisely so that there will be resources left for the future. But Russia is defending a dying model of development, one that requires a totalitarian and imperial ideology—and that necessitates using up resources now, including the same old oil and gas. For Putin, it appears to be a wager worth making: his costly project in Ukraine has laid a minefield under the country’s economic and demographic future, but it is entirely possible that these mines will explode only after he has left the scene. Call it the King Louis XV model of governance: Après moi, le déluge. (“After me, the flood.”) Putin’s war is a fight against the future.
ODDZ & ENDZ
Wow, what a GQ story. I used to love watching Rex Chapman play in the NBA, he has had an amazingly tragic story and also inspiring in a way that there is a way back: How NBA Star Rex Chapman Gambled Away Millions—and Pulled His Life Back Together. During his decade-long NBA career, the shooting guard made over $40 million. In retirement, an addiction to opioids, the racetrack, and blackjack left him flat broke, living out of his El Camino and wondering if he could ever escape the downward spiral.
This is great: Surfing’s Top 10 Rides of All Time.
Wow! Incredibly rare ‘Firework Jellyfish’ filmed 4,000 ft. underwater.
TRAVEL
Great list: 11 Remote Destinations That Are Definitely Worth the Effort to Visit. I have not been to any of them. Will the answer be different if there was a Hyatt nearby? Ok, don’t answer that, I am joking.
Interesting: The Best Destination Dupes for the Most Overcrowded Vacation Spots.
Surprising: Ranked: Global Airlines with the Most Plane Crashes.
Beautiful: Trung Dong’s Aerial Street Photos Highlight the Fruit Merchants of Hanoi.
BUZZING
A section where I go on and on about some stuff that happens in my life and anything else that just does not fit in another section above
I am determined to find out what the hell is going on with my left foot. New doctor, into regenerative medicine. He is seeing something, he wants a CT scan. The saga continues…Instead of walking/running, I am visiting my gym almost every day and so ready to get the bike out soon, it’s all tuned up.
I have never watched the Oscars, I could care less what celebrities do. But I always check out the winners the day after. All the 2024 Oscar Winners. You know what else I have noticed? Every time I drive by the local movie theaters I see more cars in the parking lot.
This is hilarious. Did you know there was such a group? The First Rule of the Extreme Dishwasher Loading Facebook Group Is… If you don’t laugh reading this I will be shocked.
This blog started with a focus on miles and points and travel. It has evolved since then. Everything below deals with the hobby of collecting frequent flyer miles and points and maximizing your travel experiences. If you are not interested, you can stop here, thank you.
MILES & POINTS NEWS/PROMOS/MY ACTION
It was another week with a lot happening but no event jumps out to define the week. What makes this space so addicting is that, you know, developments just keep coming at us, it is never boring.
GENERAL NEWS/PROMOS/NEWBIES/ETC.
Oh boy, this was in the first page of the Wall Street Journal: Couples Clash Over Frequent-Flyer Status: ‘You Are Being Totally Selfish’. American Airlines’ program that lets consumers buy their way to an elite level creates a new relationship minefield. Some ridiculous situations described in the article. Which sadly show how successful the new American Airlines scheme has been, I think we will see more copy it going forward.
Good post on how to use your American Airlines miles: How to Find & Book the Best American AAdvantage Miles Deals.
That was a long shot from the get go, glad it’s over. Not that I care much at all for either company. Choice Abandons Hostile Merger Bid for Wyndham Hotels.
The end is here near. Hyatt Shares Important Dates and Details for SLH Relationship. The date is May 15, 2024. It sucks to lose so many properties in the World of Hyatt program but when you think these were not that great of a value, oh well. Life moves on.
I still can’t believe Hilton paid $210 Million dollars for this: Hilton Adds to Lifestyle Market with Graduate Hotels. About 30 properties, including one in town here in Ann Arbor, a hotel I drive by often and have never stepped inside yet. Just for the branding, $210 Million, speechless.
Shocking news: I am out of Hyatt Cat 1-4 Free Night certs. Unless I can get one from son’s account that is. Anyway, here is a good list: Best Hyatt Category 4 Hotels & Resorts. You have until March 26 to book the properties moving to Category 5 from Category 4, hurry!
Let’s stay on the same track, the free night certs that is. The Hilton free night certs are much better, no category restrictions so go big! 60+ best places to use a Hilton Free Night Certificate worldwide.
CREDIT CARD CORNER
There are always new travel rewards credit card offers. You just need to figure out what you want out of your travel and how much time and (can be minimum) cost you want to put into it. Nothing is free.
The fantastic Reddit Credit Card Recommendation flowchart was finally updated! If you are new at this, bookmark it and learn from it.
One web page to use to register for the second quarter 5% credit cards, if you have any (you should): Q2 2024 5% Quarterly Categories: Activate, Offers & Suggestions (Freedom/Flex, Discover, Dividend, Cash+ & More). We always have at least one Chase Freedom Flex in the household. Both kids got a Discover it card as soon as they turned 18 to help their credit score. And I have been handling them ever since because this is what good fathers do 🙂
There are Increased American Express Hilton Bonuses. But not the best ever. But pretty close if you are into Hilton. Again, if you are new into this, please read the link above with the credit card recommendation flowchart.
MY ACTION
Remember last year when my Lufthansa flight from Detroit to Frankfurt with my mother was ordered to return to Detroit after flying for over two hours? Anyway, I filed a claim with Lufthansa only to be told to take a hike. So then I hired FlightRight to do the claim, for a 30% fee of course. And it was a very slow process. Mainly because Lufthansa just did not settle and extended the process all the way to court! Anyway, after the 30% fee and then a surcharge for going to court I just received via Paypal 672 euros. Winning!
I am really trying to burn my miles/points stash you guys. Here is what I did last week:
We decided to extend our Chicago stay after two nights at the Thompson in Chicago in late June (used two Hyatt Free Night Cat 1-4 certs) and add another night at the Hyatt Centric Magnificent Mile burning 15,000 World of Hyatt points. I have not stayed in either property and looking forward to checking them out. I am wondering if I should blow a Globalist elite Confirmed Suite Upgrade for the Thompson for just two nights #firstworld problem.
I booked a short round trip to Philadelphia in mid May to see a client and attend another concert of a band that should remain nameless at this point. Because if you google it you may lose all respect for me lol. I burned 16,500 British Airways Avios miles for a round trip ticket Detroit – Philadelphia flying partner American Airlines. Anyone based in either city should know that I saw extreme availability, I was shocked! Many seats at the lowest 16.5k level every single day. I looked around for hotels and, of course, I naturally gravitate to Hyatt in a desperate effort to accumulate night credits to possibly earn Globalist elite status again. I am not seeing it but each night credit I guess helps. So, I burned 30,000 World of Hyatt points to stay two nights at the Hyatt Centric Center City.
Finally, I decided to burn 19,000 Capital One points to cover our two RT Amtrak tickets Ann Arbor – Chicago for the late June trip for a conference I am attending. I think this is the first time I actually burn Capital One points for actual travel, no longer a virgin I guess. The only other times I have burned Capital One points was for Detroit Tigers baseball tickets. Oh wait, I did burn Capital One points for a free Caribbean cruise many years ago.
I have not done anything else, just too busy these days…
ADVANCED
The Bilt credit card has never had a signup bonus. The company’s marketing budget is spent on wining and dining bloggers in private islands. And, in turn, they return the favor by blogging how amazing Bilt is. Which is a giant crap load of BS. Even when the company announces an obvious awful policy, these bloggers just have a very difficult time criticizing it. It is just so pathetic to watch. Remember how they all raved about adding American Airlines as a Bilt transfer partner like it was the most amazing thing ever? Well, here we go: Bilt & American Airlines To End Partnership In June. I was going to do a roundup of the criticism spewed out by the bloggers but…I just could not find any lol. Update: Positive move: Bilt Rewards Adds Alaska Airlines As 1:1 Transfer Partner. Beware bloggers glorifying this positive move.
Getting crowded in this space so here is a post about all of them: Which award search tool is best?
If you have Alaska Airlines miles: Sweet Spots in the New Alaska Mileage Plan.
There was an announcement this past week how the award search engine Point.me partnered with Amex to search only for flights of Amex transfer partners. Well, the execution leaves a lot to be desired apparently. And beware of these caveats: That Whole Free Point.me AmEx Thing.
MILES & POINTS
HOT CREDIT CARD OFFERS: 75k CHASE Ink Business Cash, 75k CHASE Ink Business Unlimited, 75k CAPITAL ONE Venture X, 75k CAPITAL ONE Venture Rewards, 100k CHASE Ink Business Preferred, 80k CHASE Southwest Performance Business, 100k CHASE United Business, 60K CITI Premier, $1,000 Cash Back CHASE Ink Business Premier, 165K CHASE IHG One Rewards Premier, 60k CHASE Sapphire Preferred, 60K CHASE Sapphire Reserve, 155k AMEX Hilton Surpass, 15k AMEX Blue Business Plus and many more!
This section is about my hobby addiction of collecting frequent flyer miles and hotel points since the early 1990’s! SKIP if you are not into it!
As of today, I have burned 220,040 miles/points year to date (1,148,286 in 2023) and have 4,636,937 miles/points in the bank. Some do drugs, I do miles lol!
Thanks to US banks, very lucrative travel rewards credit card offers come and go all the time. This section will act as a reference point on the best CURRENT offers. I will designate new material preceded by NEW.
Remember, you are NOT allowed to ever carry a credit card balance if you ever get a credit card here!
Let me leave you with this:
Some of the links are behind a paywall. You can try to read them using Archive.is.
Thank you for reading my blog. If you enjoy it please pass it on to a family member or friend. Or Buy Me a Coffee, thank you!
TBB
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Well, I’m off to start googling live concerts in mid-May in Philly to solve this mystery. New Kids On The Block? Taylor Swift? Which forbidden act will George be seeing??
New Kids on the Block? That will be pure torture!
Taylor Swift? Resale pronto!
I may give a hint one day about the band I am seeing, just don’t want to lose all respectability lol.
Helmet?
If $30M is ultra rich, then $1B is superultra rich and $100 is mega super ultra rich. And never before has it been this easy to pass on generational wealth (in the US, not so much in Russia).
Bilt’s marketing is brilliant for miles and points bloggers. But is the card known outside this niche?
Not Helmet. Good band, did not know they are still around.
Tax them ultra super rich 🙂
I am not sure abt how Bilt is really doing overall. If they are still around they must be doing something right. No doubt spending some $ on influencing bloggers is a lot cheaper than giving away 100k Signup Bonuses. Funny thing happened again…they screamed you can earn 3x on rent. But neglected to say that the people who do so can only do so with the Alaska Airlines credit card and, most importantly, it will cost them a 3% transaction Fee. Which makes this “enhancement” worse than useless. So pathetic to watch them it just boggles the mind. Never underestimate what gorging on wine and food in private islands can do to your way you write about this company. Just sad!
Late to the party!
Hope the foot treatment helps.
The Graduate hotel group is interesting. They are located in university towns. I’ve been thinking of library work in Berkeley and the graduate hotel stands out as rather interesting in a cluster of mediocre alternatives.
Let us know what you think of the Graduate in Berkeley. The one in Ann Arbor looks nice from the outside and yes, it is right on campus.
Good stuff as always! Definitely worth a cup or two!
Man, I dunno about that Crypto stuff. I still think one of these days that whole thing will blow up, but then again, I am no economist or expert investor. It just seems based on foolishness.
Hope the foot thing goes well and you can find out what the what is!
Thanks for the coffees again. And thanks to David for the coffees as well.
It is mind boggling to me all this crypto stuff has not crashed and burned yet. I guess there are many who have not gotten burned yet? I don’t know, it’s just so weird. Imagine owning something that is so volatile. Anyway, to each his own I guess. At this time, it is all momentum. All momentum waves eventually end.
Crypto is a cult. And so is Costco, but at least the Kirkland brand can be trusted to deliver reasonable food items. One is a complete waste, the other one actually has meets true human needs.
In the mail today we have a letter for Costco renewal. I need to have a discussion with Mrs. TBB, I don’t think she shops there nearly enough to justify the annual fee.
But, where else will you buy 5 gallons of mustard??
Lol. Costco membership is going to be canned, she agreed.
We have enough mustard 🙂
Given tax laws in Italy I am surprised at how many UW reside there. Same with UK, brutual inheritance tax laws so must be lots of family trusts in play. Glad to see that you have realised that resistance is futile and you are cracking on with Hyatt requalification. Truthfully they are the only one of the big brands that is consistent in delivering promised benefits, that is of course properties outside US of which I talk.
I am starting to have doubts about that Visual Capitalist graph. I guess all the ones in South America already moved to, please sit down, Miami? 🙂
At this point I think I can hit 30 at best. Was aiming to get back to Thailand to check out more places and of course Hyatts. Like the Hua Hin HR, Koh Samui HR, Bangkok HP and maybe the Pattaya Andaz. Maybe we can get away in December as November is now out as wife’s sisters will be visiting. Good problems to have 🙂 I just don’t think we will see any Globalist friendly promos this year I am afraid.
George so I use this bilt thing to get 3X on Alaska Visa? Wait. I pay 3% fee for this. Wait. I pay $95 AF for the card? So I pay greater then 1 cent per point? Wait. Na.
Yes, bloggers could not wait to boast Bilt now earns 3x for rent…without doing any homework first. I am sure the Bilt Marketing team was high fiving each other smh.
Or maybe I am just pissed off I never got the invite to Mosquito Island to be wined and dined 🙂
There is nothing more demoralizing other than receiving the weekly email with blog traffic stats for the past week early Monday mornings. The lowest traffic in years. So, I guess, doing a second Tuesday post did not help.
It is apparent I will never be discovered, blog/build it and they are not coming. And since I won’t be posting clickbait for morons to click on and succeed commercially…wtf am I doing here? It’s just the five of you posting here. And the few with support clicks. A whole month with the new cc provider and sold only one card….the one with the lowest commission on the spectrum not even covering half of the Mailchimp mail list for a month LOL.
In other words, I am beginning to lose patience after all these years you guys…If I was normal, I would have quit years ago. And definitely if I needed the money, no wonder so many bloggers quit and just went freelancing or got jobs at big blog businesses.
Any ideas how this blog can attract more people? Are my posts way too long? Should I cut out all the non travel/miles&points stuff and go back to the roots? Start a different newsletter for the curated non travel/miles&points stuff…but dang, how do I run two completely different “ventures”?
Been contemplating this shit for years.And then a conversion happened….only to hit more lows…and then another conversion happened. Well, the first provider kicked me out due to low cc conversion volume and the second one is well on its way it appears. When that happens this blog is OVER, I have made up my mind on this and I feel good about it. So, in a way, the sooner the better for my psyche 🙂
Did some more burning, nearing the point to go under 4.5 Million miles/points, progress!
May be returning to Thailand mid November for a while. Trying to figure out wife’s sisters’ itineraries while visiting the US. Would love to check out Hua Hin and Koh Samui staying of course at Hyatts. Also maybe check out the Andaz in Pattaya for a few nights at least if we can work it in. There is a travel conference in mid November I would like to attend…if I buy the trip and expense it, there goes my profit for the year in this blog, tax planning LOL.
I need to get my shit together and sit down and go book trip to Greece.
So, I guess, we’ll see if I post tomorrow…
I feel better now. Thanks for reading you guys.
Where is Sam?
I swear, earning Hyatt Globalist has nothing to do with plans in my head 🙂