Are You Saving Enough?

Feb. 13, 2018

You know it’s important to save money. You’re just not sure if you’re stashing away enough. Are you prepared for life’s twists and turns? Or could an unexpected bill potentially derail your finances?

1. Annual or Quarterly Expenses

You can cover your monthly bills, including your rent or mortgage, utilities, transportation and groceries. But you feel stressed by annual expenses, such as holidays, birthdays, summer camp and back-to-school shopping. This is a sign you may not be saving enough.


You need to be able to cover for recurring quarterly, biannual and yearly expenses.


2. Irregular Expenses

You don’t know when this will happen. You don’t know how much money this may cost. But you know that at some indeterminate point, you’ll need to repair some thing.


If you’re not prepared to cover these costs, you may need to start increasing your savings.


3. Emergency Fund

An emergency fund is money that you set aside for unpredictable, once-in-a-lifetime emergencies, such as job loss or a health emergency. It should cover at least three months’ worth of living expenses, according to the Financial Industry Regulatory Authority (FINRA).


When you’ve built a comfortable savings nest, you may be better prepared for life’s curve balls.

Nutella Discounts Spark Chaos in French Supermarkets

Jan. 26, 2018

Shoppers scramble at French supermarkets to get their hands on discounted of the chocolate and hazelnut product.

The promotion, launched on Thursday, reduced the price of more than a million 950-gram from 4.70 euros ($5.85) to 1.41 ($1.75).


In one video posted on Twitter, customers are seen shoving each other and shouting as they try to get as many as possible. According to Le Parisien newspaper, shoppers started to fight in the northern town of Ostricourt, prompting police to step in.


Ferrero, the company that produces Nutella, decried the incidents and distanced itself from the supermarket chain. "We want to clarify that the decision for the special offer was taken unilaterally by Intermarche," the company said in a statement. "We regret the consequences of this operation, which created confusion and disappointment in the consumers' minds."


The discount was meant to last until Saturday but stocks ran out very quickly at many supermarkets.

Musk's Could Become The World's Richest Man—if Tesla Succeeds

Jan. 24, 2018

Shares of Tesla are up 2.82% to $361.47 on Tuesday after the company announced a new executive compensation plan for its CEO, Elon Musk.


Tesla Inc. granted the billionaire founder a $2.6 billion award, the largest-ever of its kind, underscoring the company’s outsize ambitions and how intimately connected its future success is to Musk. If fully vested over a decade, stock options would net him as much as $55.8 billion. Along the way, nothing would be guaranteed -- zero salary or cash bonuses.

The new plan eliminates vehicle production targets and focuses Musk's compensation on stock, earnings, and revenue targets instead. The plan also requires Musk to be either CEO, or both Executive Chairman and Chief Product Officer, with all management reporting to him.


The audacious award outlines a plan for Tesla to become one of the world’s biggest companies, which would make Musk perhaps the richest man on the planet in the process, but without as detailed a road map to get there as was provided with his last award. This, too, is very Musk-like -- set big-picture, moonshot end goals, particulars be damned.

"Elon will receive no guaranteed compensation of any kind — no salary, no cash bonuses, and no equity that vests simply by the passage of time," Tesla announced.


"Instead, Elon's only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of its shareholders do extraordinarily well," the company said. "Because all Tesla employees are provided equity, this also means that Elon's compensation is tied to the success of everyone at Tesla."


For Musk to receive the maximum compensation, Tesla's market capitalization would have to swell more than tenfold to $650 billion over the next 10 years. Musk will get paid in 12 tranches if he meets market capitalization and operational milestones, Tesla said. The first tranche would kick in if Tesla's market capitalization hits $100 billion and the company reaches targets for revenue and earnings.


Musk has also embarked on several other ventures including artificial intelligence researcher OpenAI, brain-machine interface developer Neuralink and tunnel digger Boring Co.


If the award fully vests, Musk would own a 28 percent stake in the company worth about $184 billion, vaulting him to the top of the Bloomberg Billionaires Index. Amazon’s Jeff Bezos currently sits atop the index with a $111.5 billion net worth as of Monday’s close in New York.

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