companies

Apache is functioning normally

Looking for a greener Christmas? Re-think your gift wrap. According to Stanford University:

  • If every U.S. family wrapped three gifts in repurposed materials, the gift wrap saved would cover 45,000 football fields.
  • If every family reused two feet of holiday ribbon per year, the ribbon saved could tie a bow around Earth.

Feeling like a planet-despoiling bastard yet? Don’t beat yourself up too badly. I use some holiday paper myself. But I obtain/use it in very specific ways:

  • Buying during post-holiday clearance sales — they’re practically giving the stuff away
  • Re-using wrap when possible
  • Using non-traditional wrap
  • Getting paper and gift bags in non-traditional ways

You can frame the “to wrap or not to wrap” question in three ways: frugal or eco-friendly, or both.

A lot of people are seriously concerned about the amount of paper we produce and quickly discard. The weeks between Thanksgiving and New Year’s Day see an extra 25 million tons of garbage in the United States. How much of that waste is Pokemon wrapping paper, holographic gift bags, and curly ribbon that will still be curly (and recognizably ribbon) after 50 years in a landfill?

That bothers me. But like companies that use environmental mitigation to offset the effects of development, I’m as eco-friendly as I can be while still indulging in a certain amount of despoilation. All year long I recycle, cook from scratch, buy clothes from thrift stores, walk or take the bus, and do other things to limit my impact on the Earth.

But I also take a lot of plane trips, which apparently have a major environmental impact. I choose to eat meat. I don’t purchase strictly organic foods or green goods. And every few years I buy holiday gift wrap.

Why only every few years? Because I make it last, that’s why. That’s where the frugal part comes in.

Go paperless
The first and most obvious alternative: Don’t wrap at all. If you’ve got friends/family/a partner who also feel that gift wrap is an eco-disaster, agree to put the presents out completely nekkid.

Yes, it spoils the excitement of wondering what you got for Christmas. The knowledge that you’ve kept a bunch of wrapping paper out of the landfill will have to substitute for that holiday frisson.

Or try temporary camouflage: Burrito-up gift items in bath towels or sheets. House smaller presents in old sour-cream containers and larger ones in pillowcases, or in cardboard boxes you got free from local stores. Rubber-band them shut if you can, to save on strapping tape, or tie them closed with the shoelaces you’ve taken from worn-out shoes.

(You do take them out, don’t you? And cut the buttons off shirts you’ve worn to shreds, before you cut them up to use for cleaning rags? If not, hand me your Frugal Hacker badge right now. You can have it back once you’ve earned it.)

Tip: Liquor stores discard tons of boxes, especially during the holidays, which drive us to entertain or to drink (or both). If you’re required to separate the recyclables, plan to flatten those booze boxes one or two per week for a while. Otherwise your neighbors will discuss an intervention.

You can also repurpose a cigar or shoe box. Erin Huffstetler opens the side seam of cereal boxes, turns them inside-out and re-tapes them to house shirts and other gifts. “Let your kids stamp or paint on designs,” says Huffstetler, who writes the Frugal Living Guide for About.com.

I think that’s clever. But if an empty Rice Krispies box just isn’t festive enough, how about a tin? I end up with these every year because they’re sent to me full of homemade treats. I also find them at rummage sales for practically nothing and, occasionally, in the “free” boxes at yard sales. If you don’t want your gift sliding around you can wedge it in place with crumpled-up newspaper.

Bag it
Decorative gift sacks are increasingly popular. My theory is that a lot of people are as bad as I am at wrapping packages but are too classy to give lumpy presents. (My gifts look positively glandular.) Gift bags would seem to be the perfect solution. But unless they have handles that can be tied shut, you need to add tissue paper to cover up the presents.

Fiendishly clever of the gift-wrap companies, isn’t it, selling an easy-to-use item that requires a corollary purchase?

A close relative of mine uses gift bags made of super-strong paper, versus the flimsier, single-use varieties. Since she gives only to people she’s known a long time, they’ve accepted that it’s one of her idiosyncrasies to ask for the bags back. Pick the right gift sack (and the right recipients) and you won’t have to buy wrapping supplies for years.

If you’ve got a sewing machine, you could make simple cloth bags to cover the goods. (Hand-stitching is possible, obviously, but more time-consuming.) Look for fabric remnants at thrift shops. You might even luck into a holiday-themed pattern; how often do people plan to make gifts but wind up donating that holly-printed flannel? Watch for old sheets or Christmas-y dish towels, too. But not Christmas guest towels, because it’s a known fact that these should never be used.

The bags don’t have to include a drawstring or Velcro unless you want to show off. Just tie it closed with a piece of ribbon, string, or raffia.

Tip: Did you buy rolls of ribbon at that post-holiday clearance sale? Cut a single long piece into 1/8th-inch-wide slivers. Each will hold bags closed just as well as a wide ribbon would. The ends may even become curly, and you can pretend that you did it that way on purpose.

Or how about putting gifts in reusable shopping bags? It’s possible to ask for these bags back, too, unless you want to make them part of your gifts. You’re looking for environmental mitigation, remember? Encouraging others to eschew plastic bags counts.

More than one way to wrap
I haven’t bought clearance holiday wrap for at least two years yet my supply is still pretty ample. In part that’s because whenever possible I save the paper from gifts I receive and use it the following year to wrap items of similar size. If there are marks where tape or ribbon was removed, I cut down the paper to fit smaller items.

I’ve heard of people using a warm iron on the opposite side of gift wrap, to make it nicer for reuse. Since I barely iron my clothing, I’m unlikely to press paper. If you do this, please don’t cause any house fires.

(Speaking of which: Don’t throw commercial gift papers into a fireplace or wood stove. They burn so fast and so hot that they could create a flash fire. Besides, the inks could contain metallic materials and heavy-metal compounds, according to Consumer Reports.)

You don’t necessarily need to buy paper designed specifically for presents. Some other possibilities:

  • Newspaper end rolls. If there’s a newspaper or printing company in your area, ask if you can buy an almost-finished roll. These still contain a ton of paper that can be used as-is or customized any way you want. Rubber-stamp it. Flick a loaded paintbrush at it. Let your kids draw holiday pictures on it. Or do the messy-but-fun activity of dipping their li’l hands into water-based acrylic paint and making hand prints on the paper. (And if your recipient is a “CSI” fan? Have them leave only their fingerprints.)
  • Secondhand finds. Sometimes I find gift wrap at thrift stores or yard sales. But I’ve also seen rolls of butcher paper or brown at thrift shops; these can be decorated as noted above.
  • Grocery bags. Cut open paper ones and use the non-logo sides for wrapping. Let your kids decorate them with bright paint.
  • The Sunday funnies. These make great gift wrap year-round. Don’t subscribe? Harvest them at coffeehouses on Mondays. Tip: Discarded wrapping paper of any type can be crumpled up for use as packing material.
  • Old maps. Doctors Without Borders sends me several huge maps of the world every year. Maps also end up in the free box at yard sales, and may be given free of charge at visitors’ centers.
  • Periodicals. Small gifts can be wrapped in pages from magazines, calendars, catalogs or even comic books. You may luck into these in the “free” bin at yard sales.
  • Foreign-language newspapers. Weeklies written in Chinese, Korean and Spanish can be found in my neighborhood. The interesting typefaces could be a hit with someone who knows or is trying to learn those languages.
  • Dumpster paper. A whole lot of gift-wrap items will be tossed after Dec. 25. I’ve pulled gift bags, colorful tissue, ribbons, and large pieces of wrapping paper out of the recycle bin. Note: You don’t necessarily have to get down and dirty. I’m more of a dumpster wader than a dumpster diver, myself. A few years ago I found a large, still-shrink-wrapped roll of Christmas paper outside the dumpster. Still slowly making my way through it because of its design — not everyone appreciates the delicacy of Batman holiday wrap.

Frugal and/or reusable finishing touches

  • Raffia
  • Strips of tulle
  • Fabric “ribbons” cut with pinking shears
  • Shoelaces (come on, everybody needs an extra pair — and some are really cool-looking)
  • Strings of beads
  • Hemp twine

Which brings me to a fairly obvious point: These solutions might not work for everyone. Your fastidious Great-Aunt Mildred might not care for a repurposed grocery bag tied with wild grapevine you gleaned from the woods behind your house.

In fact, I wouldn’t do offbeat wrapping for anyone I didn’t know well. For example, your new sweetheart’s parents may look at gifts hidden inside old cottage-cheese containers and think not “eco-warrior” but rather “illegitimus frugalis.”

As always, do what works for you. But no matter how you wrap or don’t wrap your presents, the same rule applies: Every time someone opens a present early, Santa Claus kills a puppy.

Happy holidays.

Source: getrichslowly.org

Apache is functioning normally

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

Wall Street is a place that people love to hate.

The Wall Street of today, however, could not be further from the one we know and fear: it’s a trillion-dollar industry with innovation brewing in every corner. You may have heard about these innovations on The Big Short or Moneyball but you might want to broaden your horizons when it comes to movies that feature this major American institution.

While learning about money, finances, and the stock market may or may not be your thing, there is plenty to learn while being classically entertained.

When you’re studying for the MCAT, going through a financial audit, or watching skyrocketing inflation happening before you, it can be hard to find films that accurately portray modern finance.

But Wall Street is full of memorable characters and interesting situations with plenty of twists and turns to keep your attention.

Whether you’re looking for movies about trading on Wall Street or movies about money itself, here are 25 classics worth watching over and over again!

Followed by a list of the best documentaries on stock market trading.

Best Movies About Wall Street

Plenty of movies have been made about Wall Street over the years. There is a fascination with the life of a trader and how it intersects with business.

The order dated from the oldest movie to the most recent film.

Here are 25 of the best films set at the intersection between finance and our culture:

1. “Edison, the Man” (1940)

The movie is about the life of Thomas Edison, one of the most famous inventors in history.

The main character is played by Spencer Tracy, who does a great job portraying businessman Thomas A. Edison. The story follows Edison’s journey from being a stockbroker on Wall Street to becoming one of the most famous inventors in history.

Most of the film’s script is fictionalized or exaggerated, it should be viewed as such.

Watch On:

2. “Citizen Kane” (1941)

Citizen Kane is a 1941 American drama film directed by, produced by, and starring Orson Welles. The picture was Welles’s first feature film. The screenplay, written by Herman J. Mankiewicz and Welles, was based on the life of William Randolph Hearst.

Citizen Kane helped form the idea that there should be a cultural shift in how we view Wall Street. It is considered to be one of the greatest movies ever made because it’s highly innovative, artistic, and technical with many different themes being explored throughout its runtime.

Watch On:

3. “It’s A Wonderful Life” (1946)

“It’s A Wonderful Life” is a classic movie for the generations.

The protagonist of the movie is George Bailey. The movie revolves around the idea that if George Bailey never existed, life would be much worse off. This film is a classic and a must-watch for anyone interested in finance or business.

Ultimately, he learns some valuable lessons about life and himself.

Watch On:

4. “Trading Places” (1983)

“Trading Places” is the funniest movie about Wall Street. The plot revolves around how one man’s fall from Wall Street is another man’s blessing.

It’s a classic movie about Wall Street that is still relevant today. The film follows the story of two men whose lives are drastically changed when they’re made the subject of a bet on Wall Street. It stars Dan Aykroyd, Eddie Murphy, Ralph Bellamy, Don Ameche, Denholm Elliott, and Jamie Lee Curtis.

Released in 1983, Trading Places was a box-office success. Earning over $90 million, the film became the fourth-highest-grossing film of that year in the United States and Canada. Furthermore, it was critically acclaimed for its humor and cast.

John Landis directed “Trading Places” and it is an absolute classic. Watching Murphy talk about futures and markets is hilarious.

Watch On:

5. “Working Girl” (1988)

“Working Girl” is a 1986 romantic comedy-drama film directed by Mike Nichols and written by Kevin Wade. The film stars Melanie Griffith, Harrison Ford, Sigourney Weaver, Alec Baldwin, and Joan Cusack. It received many Academy Award nominations in 1989, including Best Picture and Best Actress (for Griffith).

The story follows Tess McGill (Griffith), an ambitious secretary who pitches a profitable idea to her boss only to have her boss take credit. After her boss (Weaver) is out with a medical injury, Tess teams up with investment banker Jack Trainer (Ford) to make a big deal. Things get complicated when her boss comes back and discovers what Tess has been up to.

“Working Girl” was praised by critics upon release and became a box office success. It grossed over $96 million worldwide against its $13 million budget.

The idea for Working Girl came when writer Kevin Wade and producer Douglas Wick were in New York City together in 1984 and noticed throngs of career women walking to work while carrying their high heels (source).

Watch On:

6. “Wall Street” (1987)

“Wall Street” is a 1987 American drama film directed by Oliver Stone and starring Michael Douglas, Charlie Sheen, and Daryl Hannah. The film tells the story of Bud Fox (Sheen), a young stockbroker who wants to make it big in the world of finance.

An eager and inexperienced stockbroker is willing to do anything to get ahead, including going through an unscrupulous shady corporate raider who takes the young-in-awe under his wing.

The movie was nominated for seven Academy Awards, including Best Picture and Best Actor (Michael Douglas).

A sequel titled “Wall Street: Money Never Sleeps” was released 23 years later.

Watch On:

7. “Bonfire of the Vanities” (1990)

“Bonfire of the Vanities” is a movie that captures the class-consciousness of 1980s New York.

The film focuses on Wall Street and New York City’s stratification issues. In particular, it focuses on the Manhattan elite and how they are separated from other social classes in the city.

The film is based on a book by Tom Wolfe, who was inspired by his own experiences living in Manhattan during that time period.

Watch On:

8. “Other People’s Money” (1991)

Other People’s Money is a 1991 American comedy-drama film directed by Norman Jewison and starring Danny DeVito, Gregory Peck, and Penelope Ann Miller. DeVito plays a ruthless businessman who buys companies and sells off their assets to make him rich.

Along the way, this corporate raider falls in love with the wife’s daughter, who is a lawyer. An avid lover of this woman, the corporate raider attempts to win her heart through legal maneuvering.

Watch On:

9. “Glengarry Glen Ross” (1992)

Glengarry Glen Ross is a 1992 American drama film adapted by David Mamet from his 1984 Pulitzer Prize-winning play Glengarry Glen Ross. The film was directed by James Foley and stars Al Pacino, Jack Lemmon, Alec Baldwin, Alan Arkin, and Kevin Spacey.

“Glengarry Glen Ross” is a movie about the incentives of real estate salesman. This drama-filled movie shows what people will do to close a sale.

Watch On:

10. “Barbarians at the Gate” (1993)

Barbarians at the Gate is a 1993 American drama made-for-TV movie based on the book of the same name by Bryan Burrough and John Helyar. The film was directed by Glenn Jordan and stars James Garner as H. Ross Perot, Peter Riegert as Henry Kravis, and Swoosie Kurtz as Ruth Harkness.

The film tells the story of a leveraged buyout between two Wall Street insiders who battle for control over a company. It is considered one of the best movies about Wall Street because it provides an inside look at how these deals are made.

Watch On:

11. “The Associate” (1996)

The Associate is an American comedy movie released in 1996.

Investment banker Laurel Ayres (Whoopi Goldberg) is an associate for an investment firm who has great advice but doesn’t get the respect she deserves because she is a black woman.

Money is power, so she uses a white man as her partner. The protagonist has great advice but no one will take it seriously because she’s a woman of color with an African American sounding name. To prove her worth, the protagonist creates a fictional white male figure to be her business partner to make people listen to her more than they would otherwise.

Watch On:

12. “Rogue Trader” (1999)

Rogue Trader is a 1999 British drama film directed by James Dearden and starring Ewan McGregor and Anna Friel. It is based on the true story of Nick Leeson, a British trader who caused £800 million or about $1 billion in losses through unauthorized trades in 1987, and his attempt to cover up his losses by falsifying account documents.

Nick reads in the newspaper that the company went bankrupt and then realizes the severity of his losses. Him and his wife then decided to go back to London, but Nick is arrested en route from Frankfurt. Finally, Nick is extradited to Singapore where he is sentenced to six and a half years in prison.

Watch On:

13. “American Psycho” (2000)

American Psycho is a satirical psychological horror film that was released in 2000 and is based on the novel of the same name by Bret Easton Ellis.

The film stars Christian Bale, Willem Dafoe, Jared Leto, Josh Lucas, Chloë Sevigny, Samantha Mathis, Cara Seymour, Justin Theroux, and Reese Witherspoon. It debuted at the Sundance Film Festival on January 21, 2000, and was released theatrically on April 14, 2000.

American Psycho is a movie about Patrick Bateman, a successful Wall Street executive with an inner darkness that leads him to commit heinous crimes. The film has developed a cult following over the years and is now considered a classic. Additionally, it has made a strong presence in contemporary meme culture.

A direct-to-video sequel, “American Psycho 2” was released in 2002.

Watch On:

14. “Boiler Room” (2000)

Boiler Room is a movie about Wall Street corruption. It stars Giovanni Ribisi, Vin Diesel, Nia Long, Ben Affleck, Nicky Katt, and Jamie Kennedy.

This movie is about a young man, played by Giovanni Ribisi, who ran an unlicensed casino, but wasn’t making the living his father, a New York City judge wanted. So, with the promise of being a millionaire, he becomes a stockbroker in a brokerage firm.

In fact, the brokerage firm was running Pump and Dump schemes – investment scams that involve artificially inflating the price of stocks before dumping them onto uninformed investors.

The movie was met with mixed reviews by critics but audiences seemed to enjoy it more. I mean it did star Ben Affleck.

Watch On:

15. “The Bank” (2001)

This Australian movie “The Bank” is about finance software that predicts stock market trends.

This drama-thriller heist film was directed by Frank Oz and written by Paul Schrader. The critical response was mixed but praised its acting performances, particularly from Al Pacino and Jennifer Wright Penn.

Watch On:

16. “The Pursuit of Happyness” (2006)

“The Pursuit of Happyness” is a 2006 American biographical drama film based on the life of Chris Gardner. It tells the story of how he rose from homelessness to Wall Street success. The movie was directed by Gabriele Muccino and stars Will Smith in the leading role. It grossed over $307 million worldwide, making it one of Smith’s highest-grossing movies. In 2006, Will Smith was nominated for the Academy Award for Best Actor for his portrayal of Gardner.

The movie is set in San Francisco, California, and follows Gardner’s trials and tribulations as he strives to become a successful stockbroker. Despite being homeless with a young son, he never gives up on his dream. The film finishes with him landing a job at Dean Witter Reynolds and becoming a millionaire five years later.

Although “The Pursuit of Happyness” is not technically about Wall Street, it is an excellent depiction of what it takes to be successful in this field – grit, determination, and perseverance in the face of adversity.

Watch On:

17. “Wall Street: Money Never Sleeps” (2010)

Wall Street: Money Never Sleeps is a 2010 American drama film directed by Oliver Stone. It is a sequel to Wall Street (1987), which was also directed by Stone. The film stars Michael Douglas, Shia LaBeouf, and Carey Mulligan.

The movie begins with the release of Gordon Gekko (Michael Douglas) from prison, where he has been for eight years for insider trading and securities fraud. He immediately goes to see his future son-in-law, Jacob (Shia LaBeouf), who is now working on Wall Street. Gordon helps Jacob get back at the man who screwed his mentor’s firm over.

The movie covers the events leading up to the financial crisis of 2008 and explores how it affects individuals, society, and culture. The firm was highly successful at the box office earning more than $134 million worldwide.

Watch On:

18. “Margin Call” (2011)

Margin Call is a movie about Wall Street and bankers. It is considered a classic, and it was released in 2011. The banker in the movie has created a financial model that shows the firm will be completely underwater, but before he can show anyone else, he gets fired. He hands his model off to a junior banker who then has to save everything from this one data point on his laptop in the middle of the night while everyone is asleep.

Everyone wonders if “Margin Call” is a true story. While there is no specific person or company name, it rings true of what happened in the 2007-2008 financial crisis.

Watch On:

19. “Too Big To Fail” (2011)

“Too Big To Fail” is a 2011 HBO adaptation of the book by Andrew Ross Sorkin. The movie covers the 2008 financial crisis and follows bankers who meet behind closed doors with regulators to negotiate the federal bailout of the financial industry.

The film was able to feature a parade of stars who played different bank and investment bigwigs. While it’s based on true events, there are some dramatizations in order to make for a more compelling film.

It’s an interesting look at how Wall Street operates and what happens when things go wrong.

Watch On:

20. “Cosmopolis” (2012)

“Cosmopolis” is a movie starring Robert Pattinson about an incident involving currency speculation. The plot of the movie is quite complicated and may leave viewers scratching their heads as to what just happened.

The protagonist, Eric Packer, is a Wall Street investor who finds himself in the middle of an unexpected incident while in New York City. His wife and lover are introduced throughout the story but it doesn’t make sense why they would be in New York City together.

This movie has a lot of intrigues that will keep you on your toes as you weave through his personal life and the emotional rollercoaster of trading!

Watch On:

21. “Arbitrage” (2012)

“Arbitrage” is a movie about an ambitious hedge fund manager who tries to sell his company before anyone finds out he’s cooked the books. The plot involves a mistress accidentally dying in a car accident and its cover-up, with help from an unlikely source.

The movie is well acted and suspenseful and provides great insight into the world of high finance.

Watch On:

22. “The Wolf of Wall Street” (2013)

The Wolf of Wall Street is a 2013 American biographical black comedy crime film directed by Martin Scorsese and written by Terence Winter, based on the memoir of the same name by Jordan Belfort. The film stars Leonardo DiCaprio as Belfort, Margot Robbie as his wife Naomi Lapaglia, Jonah Hill as Donnie Azoff, and Kyle Chandler as Patrick Denham.

This true story of Jordan Belfort, who starts his own company in the early 1990s and quickly grows their company – more importantly their status in the trading community on Wall Street. At the same time, so do their substance abuse and lies. Belfort is named the Wolf of Wall Street by Forbes Magazine. Soon after, the FBI look into Belfort’s trading schemes…

Now, you will have to finish the movie to see what happens.

Watch On:

23. “The Big Short” (2015)

The Big Short is a movie about the 2008 financial crisis and Michael Burry’s role in it. It was directed by Adam McKay and stars the brilliant ensemble cast in this movie of Christian Bale, Steve Carell, Ryan Gosling, Brad Pitt, and Marisa Tomei. The film was nominated for five Academy Awards, including Best Picture and Best Director (source).

Viewers praise the film for being entertaining and broad. It is among the top Wall Street movies.

Not many people are brave enough to go against the market trends and big banks except for Michael Burry. Who came out ahead on the big short in the housing market?

Watch On:

24. “Money Monster” (2016)

George Clooney and Julia Roberts team up in this financial thriller as TV show hosts who are taken hostage at gunpoint due to an irate investor. There is a tense standoff taking place on live television.

The film was directed by Jodie Foster and received mixed reviews, but still did well at the box office.

Watch On:

25. “The Wizard Of Lies” (2017)

The Wizard of Lies is a 2017 American biographical drama film about the fall of Bernie Madoff. Madoff’s Ponzi scheme was highly watched across the world as it was the largest spam in US history as he robbed at least $65 billion from unknowning victims. The film stars Robert De Niro as Bernie Madoff, Michelle Pfeiffer as Ruth Madoff, Alessandro Nivola as Mark Madoff, Nathan Darrow as Andrew Madoff, and Kristen Connolly as Catherine Hooper.

The film shows how the family of Bernie Madoff falls apart amidst the scandal.

“Bernie Madoff” is a biopic about the infamous Ponzi schemer who was jailed for orchestrating one of history’s largest financial pyramids. The film utilizes Robert DeNiro as Bernie Madoff, and tells the story from his perspective. Critics praised the film for being powerful.

Watch On:

What movies are about Wall Street?

There are a lot of great movies about Wall Street, but it can be hard to pick the best ones.

Some of our favorites include “Too Big to Fail,” “Boiler Room,” and “The Wolf of Wall Street.”

Which movie is based on stock market? Much Watch Ones

There are many movies based on the stock market. Some of the most popular ones include “The Wolf of Wall Street,” “The Big Short,” and “Margin Call.”

These movies tell the story of people who have made or lost a lot of money trading stocks and other investments. They offer a fascinating look at what happens behind the scenes on Wall Street, and they can be very educational for anyone interested in investing.

What Are the Top 3 Hedge Funds Movies to Watch?

There are a number of great movies about Wall Street and the hedge fund industry. Some of the most popular ones include “The Big Short“, “Boiler Room“, and “Arbitrage.”

These movies offer a fascinating look into the world of high finance and provide an interesting perspective on the industry. Hedge funds can be very profitable, but they can also be risky. Watch these films to learn more about the risks involved in this kind of investing, as well as the rewards.

Best Finance Documentaries

Ever since the 2008 financial crisis, film buffs have been obsessed with anything related to Wall Street.

From the “Trader” to the “Inside Job”, Hollywood seems ready to take on the global financial sector.

We’ve compiled a list of some of the best finance-related documentaries available to watch.

1. “Trader” (1987)

In the 1987 film “TRADER,” Paul Tudor Jones II offers a highly charged look at what it takes to make it as a Wall Street trader. The film was shot before the October 1987 crash, so it is an interesting historical artifact.

It delivers a rarely seen view of this marketplace and explains the workings of this frantic, highly charged area. This film is important because it captures America as it nears the end of its 200-year bull market.

“Trader” is a fascinating look into the minds of traders and their thought processes. It provides an inside look at the strategies that traders use to make money and how they think about the markets. If you are interested in learning about trading or want to get a better understanding of how it works, then Trader is a must-read documentary.

Watch On:

2. “The Trillion Dollar Bet” (2000)

The Trillion Dollar Bet is a documentary about a magic formula, specifically the Black–Scholes–Merton formula, which was dreamed to reduce risk in the stock market.

It is an interesting film because it portrays Wall Street in a way that many people have never seen before. As they started to use this “dream” formula, they started losing huge amounts of investments each day. The movie focuses on the rise and fall of hedge funds, with a specific focus on the 1994-1998 period when one of them went bankrupt.

The documentary will interest many people who are interested in finance, economics, and investing.

Watch On:

3. The Corporation (2003)

“The Corporation” is a documentary film written by Joel Bakan, and directed by Mark Achbar and Jennifer Abbott.

Released in 2003, the film examines the nature of the modern corporation, considering its legal status as a “person”, and how this affects different aspects of corporate behavior. The film won numerous awards including at the Sundance Film Festival (source).

And check out the latest… The New Corporation: The Unfortunately Necessary Sequel

Watch On:

4. Enron – The Smartest Guys in the Room (2005)

The film “Enron – The Smartest Guys in the Room” tells the story of Enron, a company that was involved in accounting fraud and created $30 billion worth of debts. Enron is often seen as an example of corporate corruption and the Enron incident is often considered the best example of that.

This documentary tells the story of how Enron became one of the largest companies in America before its collapse.

Critics reviewed the film positively and it also received good ratings from audiences.

Watch On:

5. Wall Street Warriors (Season 1-3 | 2006)

If you’re looking for a reality TV series that will take you inside the fascinating and high-pressure world of Wall Street, look no further than “Wall Street Warriors”.

The show follows the lives of those working on Wall Street – from traders to investment bankers to hedge fund managers.

There are 3 seasons, with each season consisting of 26 episodes. So whether you’re looking for an hour of entertainment or you want to learn more about the financial industry, “Wall Street Warriors” has something for you.

Watch On:

6. The Ascent of Money (2008)

The documentary traces the origins of money, credit, and banking throughout history.

The title is interesting because it provides a comprehensive overview of how money has evolved over time. The documentary also interviews experts from various financial backgrounds, which makes it an insightful watch for anyone looking to gain a better understanding of finance.

The Ascent of Money is a 2008 documentary film written and directed by Michael Lewis and won an International Emmy Award.

Watch On:

7. Floored (2009)

The documentary focuses on the futures exchange in Chicago, and how digitization and computerization are changing trading floor practices. It features interviews with various traders who offer their insights into this rapidly-changing industry.

Watch On:

8. Million Dollar Traders (2009) – Mini Series

These ordinary traders did better than the pros. Some of the best traders included a student, a soldier, and a single mother of 2 children. They may have lacked experience, but they made up for it with guts and determination.

The reality mini-series happens during the recession of 2008 – also known as not a great time to be a trader. As the market falls, the story becomes personal for many of these non-traditional traders.

In fact, this is similar to what Teri Ijeoma is doing today.

Watch On:

9. Capitalism: A Love Story (2009)

Capitalism: A Love Story is a 2009 documentary film written and directed by Michael Moore. The film examines the financial crisis of 2007-2008 and the subsequent economic recession.

The criticism in Capitalism: A Love Story is clearly pointed at businesses that take risks for profit-led motives, with public funds ultimately securing the risk. For example, Moore interviews former Merrill Lynch CEO John Thain, asking how much money he made while his company was losing $8 billion per quarter.

Moore interviews many too financial gurus to ask the question – What is America’s cost for its love of capitalism?

Watch On:

10. “Inside Job” (2010)

Inside Job is a made-for-television documentary about the Fall 2008 financial crisis.

This documentary tackles the 2008 financial collapse in a way that is easily digestible, featuring interviews with experts in the field of finance. The film takes a look at some of the factors which led to the Great Recession, such as deregulation and Wall Street executives going unpunished.

The film walks viewers through topics such as extreme consolidated power on Wall Street, questionable banking practices which helped create the housing bubble, and federal regulators’ bailout that kept most big banks afloat after the 2008 financial collapse.

The movie was directed by Charles Ferguson, and it won an Academy Award for Best Documentary in 2011.

Watch On:

Most Acclaimed Wall Street Movies

Many people ask, is there any movie on stock market? In fact, there are plenty!

In fact, there is probably a new flourish of movies being made about the economic effects from 2020 onward.

These are the top Wall Street Movies you must watch!

What is your favorite movie about wall street?

Everyone will have their favorite pick!

Start a movie club and discuss which Wall Street movies. This is a great way to understand the impact of what is going on in the financial markets.

Which Must Watch Stock Market Movies are on Your List?

These movies and documentaries are incredibly informative to find out what is happening on Wall Street and how things are handled.

They offer great insights into what can happen when things go wrong on Wall Street. If you’re interested in finance or investment banking, I highly recommend watching these movies!

More Resources for You…

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

Apache is functioning normally

As of the end of 2022, nearly 45 million Americans collectively have over $1.7 trillion in student loan debt, and these numbers are growing. If you are one of the millions with some form of student debt, you may have considered student loan consolidation, which allows you to combine all of your student loans into one loan with one monthly payment.

Student Loan Consolidation Explained

Student loan consolidation is designed to combine some or all of your student loans and make repayment more manageable. There are both federal and private options when it comes to consolidating your student loans.

Private Student Loan Consolidation

A private student loan consolidation is when a lender pays off all or some of your student loan debt and creates a new loan, which you will then make payments on. If you consolidate or refinance through a private lender, the new loan will ideally have a lower interest rate and better terms than your previous student loans. With a private lender, you can consolidate both federal and private loans, and this is typically referred to as a student loan refinance.

Consolidating through a private lender, though, means you lose access to federal forgiveness programs, such as income-driven repayment plans. If you plan on using one of these programs now or at some point in the future, it’s best to hold off on consolidating through a private lender.

Federal Student Loan Consolidation

If you are hoping to consolidate federal loans only and want to keep access to federal forgiveness programs, you can consolidate with a Direct Consolidation Loan through the U.S. Department of Education.

Recommended: Types of Federal Student Loans

Consolidating through the federal student loan system doesn’t usually save you money; it simply combines multiple loans into one. Your new interest rate is a weighted average of all your loans’ interest rates, rounded up to the nearest eighth of a percentage point. No application fees are charged for Direct Consolidation Loans, and the loans remain federal loans.

This could be particularly useful for borrowers who are pursuing federal loan forgiveness or who are enrolled in one of the more flexible federal student loan repayment plans, such as an income-driven repayment plan.

As you ask yourself, Should I consolidate my federal student loans? And when should I consolidate my student loans? The answers depend on a number of factors.

Benefits of Consolidating Student Loans

There are a few reasons to consider student loan consolidation either with a Direct Consolidation Loan or refinancing through a private lender.

Simplified Repayment

Whether you choose a Direct Consolidation Loan or choose to refinance through a private lender, your loan repayment should be simplified. Managing multiple student loan payments may increase your chances of missing a payment. If you miss even one payment, you risk your credit score being lowered. Late payments also stay on your credit profile for up to seven years.

Thus, consolidating multiple loans into one can help eliminate the margin of error and may make repayment more manageable.

Fixed Interest Rate

When an applicant is interested in refinancing through a private lender, their interest rate and terms will be based on their credit score, payment history, type of loan they’re seeking, and other financial factors. While requirements may vary by lender, applicants who meet or exceed the lender’s criteria may qualify for better interest rates and terms, thus saving money over the life of the loan. Borrowers can also switch from a variable to a fixed interest rate when refinancing through a private lender.

With federal Direct Loan Consolidation, as mentioned earlier, a borrower’s interest rate is a weighted average of current loan rates rounded up to the nearest one-eighth of a percentage point, which means this doesn’t typically result in savings for the borrower. The borrower does, however, keep their access to federal loan forgiveness programs.

Federal and Private Loans May Qualify

Both federal and private student loans can be refinanced. For a borrower who exclusively has federal loans, a Direct Consolidation Loan may work best, especially for those who plan to take advantage of federal forgiveness or repayment programs. Those who have a combination of federal and private loans can partner with a private lender to refinance.

Flexible Loan Terms

Student loan consolidation allows you to change the duration of your loan. You may currently have a 10-year repayment plan, but when you consolidate or refinance, you might choose to shorten or lengthen the term of your loan. Typically, lengthening the term of your loan will reduce your monthly student loan payment (but add up to more total interest).

Considerations for Student Loan Consolidation

Even though there are benefits of student loan consolidation, there are also drawbacks. Here are a few considerations to be aware of before consolidating student loans.

You Can’t Lower Interest Rates on Federal Student Loans When Consolidating

If you choose the Direct Consolidation Loan, generally you won’t see any savings. Because your new interest rate is a weighted average of your current loans rounded up to the nearest one-eighth of a percentage point, you will probably pay around the same amount you would have paid if you didn’t consolidate. You are, however, condensing multiple monthly payments into one more manageable payment.

If you extend your term, you may see your monthly payment decrease, but your total interest payments will increase.

On the other hand, if borrowers choose to refinance with a private lender, they could end up reducing their interest, thus saving money over the term of the loan. They could also opt to lower monthly payments by extending their term. But as mentioned above, this increases the total amount of interest paid.

Possible Disqualification from Federal Repayment Programs

Refinancing federal student loans with a private lender disqualifies you from federal repayment programs, including the Public Service Loan Forgiveness Program (PSLF) and income-driven repayment plans.

Borrowers will also be disqualified from federal benefits such as forbearance and deferment options, which allow qualifying borrowers to pause payments in the event of financial hardship.

Some private lenders have hardship programs in place, but policies are determined by individual lenders.

Fees May Be Charged With Private Lenders

While there is no application fee for the federal Direct Consolidation Loan, private lenders may charge a fee to refinance loans. Fees associated with refinancing student loans are determined by the lender.

Refinancing vs Consolidating

Consolidating or refinancing student loans are terms that are thrown around interchangeably, but they are actually two different types of loans. A federal student loan consolidation is when you combine federal loans only through a Direct Consolidation Loan. This is done by the U.S. Department of Education only. A student loan refinance, on the other hand, allows you to combine both federal and private loans into one new loan and is done by a private lender. Below are some differences and similarities between refinancing vs. consolidating student loans.

Student Loan Refinancing vs Consolidating
Refinance Consolidation
Combines multiple loans into one Combines multiple loans into one
Can refinance federal and private loans Can consolidate federal loans only
Private refinance lenders may charge a fee No fees charged
Credit check required No credit check
Interest rate could be lowered Interest rate is a weighted average of prior loan rates, rounded up to nearest one-eighth of a percent
Term can be lengthened or shortened Term can be lengthened or shortened
Can no longer qualify for federal forgiveness or repayment programs Remain eligible for federal forgiveness and repayment programs
Saves money if interest rate is lowered Typically not a money-saving option

Refinancing Student Loans With SoFi

Understanding student loan consolidation and refinance options can help in making an informed decision about repaying student loans.

Borrowers interested in refinancing student loans might want to consider evaluating a few options, because requirements — as well as interest rates and loan terms — can vary from lender to lender.

Refinancing student loans with SoFi comes with no origination fees or prepayment penalties. SoFi offers competitive rates, flexible terms, and an easy online application that can be completed in just a few minutes.

Prequalify for a refinance loan today.

FAQ

Can your student loans still be forgiven if you consolidate them?

Possibly. If you consolidate your federal student loans with a Direct Loan Consolidation, you are still eligible for federal loan forgiveness programs. If, however, you choose to consolidate your loans through a private lender, you will no longer be eligible for federal programs.

When is consolidating student loans worth it?

Consolidating student loans is worth it if you’re looking to combine multiple student loan payments into one or you’re looking to lower your interest rate. You can use a Direct Consolidation Loan for your federal loans and keep access to federal benefits, or you can refinance through a private lender. Refinancing through a private lender could give you a lower interest rate and lower monthly payment, but you do lose access to federal forgiveness programs.

What are some advantages of consolidating student loans?

Advantages to consolidating student loans include combining multiple loans into one loan with one monthly payment, possibly accessing a lower interest rate, switching your rate from variable to fixed, and possibly extending your loan term to reduce your monthly payment.

SoFi Student Loan Refinance
If you are looking to refinance federal student loans, please be aware that the White House has announced up to $20,000 of student loan forgiveness for Pell Grant recipients and $10,000 for qualifying borrowers whose student loans are federally held. Additionally, the federal student loan payment pause and interest holiday has been extended beyond December 31, 2022. Please carefully consider these changes before refinancing federally held loans with SoFi, since the amount or portion of your federal student debt that you refinance will no longer qualify for the federal loan payment suspension, interest waiver, or any other current or future benefits applicable to federal loans. If you qualify for federal student loan forgiveness and still wish to refinance, leave unrefinanced the amount you expect to be forgiven to receive your federal benefit.

CLICK HERE for more information.

Notice: SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income-Driven Repayment plans, including Income-Contingent Repayment or PAYE. SoFi always recommends that you consult a qualified financial advisor to discuss what is best for your unique situation.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
SOSL20022

Source: sofi.com

Apache is functioning normally

Something to consider after a divorce is whether or not you and your children will be protected in the event of the death of your ex-spouse.

If it easy to not think about these types of things but the fact of the matter is that they are important things to think about.

Failing to plan for the future can cause for more problems down the road that could have been prevented.

The best course of action is to plan for these types of things when you are still going through the process of divorce but the fact of the matter is it is never too late to figure our the details of life insurance after death.

Life Insurance Divorce Settlements

Life insurance is one of the least covered topics during a divorce settlement. This is most likely the case because many people do not consider low-cost life insurance to be an important financial tool that is actually is. Not only does life insurance help to mitigate and manage risk but it is also used as a tool to build wealth. Knowing this information during a divorce can put you in an advantageous position after settlement.

When it comes to life insurance being used to manage risk there are a couple of different types of insurance that can be considered. Alimony and mortgages are just two obligations that usually come out of a settlement that need to be protected in the event of unexpected death or disability. Both life insurance, as well as disability insurance, are there to help cover you in these events.

Check Your Beneficiaries

The person who will be receiving the money from a claim will want to make sure that they are both the owner and the beneficiary that is named in the policy. This is where negotiating during a settlement comes in handy. You will want to make sure that the premium payments are negotiated and the person responsible for paying them is outlined in the settlement process.

It is important to be very clear about who is responsible for what during this process and spell it out in clear and distinct writing.  It may be a long and awkward process but it will most likely save you time and money in the long run. Knowledge and research are the best ways to protect yourself during these times.

A life insurance policy is a great addition to a personal finance strategy as a tool for wealth accumulation. During a divorce, if there is already a life insurance policy is one of the spouses names it should not be overlooked as an item to be split in the settlement of the divorce. There is also the option of buying out the policy. If you chose to keep the policy intact, it will be in your best interest to be placed in control of the premium payments as well as be name the beneficiary.

What if You Need Life Insurance Fast?

If you don’t currently have life insurance in force and your divorce decree requires you to purchase life insurance, you might be up against some time restrictions. Traditional term policies will take up to 4-6 weeks to get approved and sometimes longer. For many, this timeline won’t work.

So what are your options if you need instant life insurance? Introducing life insurance without a medical exam.

By avoiding the medical exam, you can have life insurance in-force between 48 hours up to 10 business days depending on the carriers. Check out our post for a comprehensive review on the no physical exam life insurance companies.

These policies are an excellent way to get life insurance coverage fast. If you have severe health complications or several pre-existing conditions, they are a perfect way to get life insurance that you wouldn’t be able to be approved for otherwise.

But these policies do come with some pitfalls that you should know about. The first is that a no-exam policy is going to be more expensive than a policy that requires you to go through a health exam beforehand. Because the insurance company doesn’t get a clear picture of your health, which means they are taking more of a risk. To offset the risk, they are going to charge you more every month for the coverage.

Additionally, the coverage limits are going to be much lower than with a medically underwritten plan. Each company with no exam plans have different limits, but they are normally under $400,000 and some are much lower than that. For a lot of applicants, this isn’t enough coverage. Having a large enough insurance plan is vital for the protection of your loved ones.  You will need to shop the market for the best life insurance companies for the best quotes.

#ap41773-wwfont-family:Archivo,sans-serif#ap41773-wwpadding-top:20px;position:relative;text-align:center;font-size:12px#ap41773-ww #ap41773-ww-indicatortext-align:right;color:#4a4a4a#ap41773-ww #ap41773-ww-indicator-wrapperdisplay:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px#ap41773-ww #ap41773-ww-indicator-wrapper:hover #ap41773-ww-textdisplay:block#ap41773-ww #ap41773-ww-indicator-wrapper:hover #ap41773-ww-labeldisplay:none#ap41773-ww #ap41773-ww-textmargin:auto 3px auto auto#ap41773-ww #ap41773-ww-labelmargin-left:4px;margin-right:3px#ap41773-ww #ap41773-ww-iconmargin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer#ap41773-ww #ap41773-ww-icon imgvertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px#ap41773-ww #ap41773-ww-text-bottommargin:5px#ap41773-ww #ap41773-ww-textdisplay:none#ap41773-ww #ap41773-ww-icon imgtext-indent:-9999px;color:transparent

Ads by Money. We may be compensated if you click this ad.Ad

Don’t Forget the Kids

The last consideration that should be made is in the event that there are children involved. In the event that something happens to you, you want to know that your children will be well taken care of financially. Reevaluating your insurance coverage is a great way to determine if you have enough coverage to protect your family.

Deciding how much Life Insurance you need

Because you’re going through a divorce, your life insurance needs might be changing. Now that you probably won’t have a spouse that relies on your salary, you will need less insurance coverage. Additionally, you may no longer be responsible for paying the mortgage payments, which means even less of a need for life insurance. It’s vital that you have the right amount of insurance, you don’t want to pay for too much, but not having enough can leave you family in a tight place.

The first thing that you need to account for is any debt that your loved ones be left with. The primary goal of your policy is to pay off those debts if you were to pass away. Make sure that your insurance coverage can pay off all of those expenses and any other final expenses that you would leave behind.

Additionally, you’ll need to account for your annual income. The other purpose of your coverage is to replace your income for anyone that relies on the paycheck. If you were to pass away, your family would struggle financially if they no longer had that money.

If you have any questions about when should you get life insurance  coverage, or about your insurance policy while you’re going through a divorce, please contact us today. It can be a difficult season of your life, but life insurance is one of the most important investments for the protection of your loved ones. We can help you ensure that you have the insurance coverage that your family would need and that nothing will go amiss through the divorce process. If you don’t have life insurance, please don’t wait any longer to get a policy. You never know what’s going to happen tomorrow.

Source: goodfinancialcents.com

Apache is functioning normally

When you first enter the workforce you have many decisions to make in regards to how you will fund your retirement years.

After years of earning an income, soon-to-be retirees also have some major decisions to make regarding how their retirement funds will be distributed once they are no longer in the workforce.

For individuals who have a pension plan in place, the decision of how they will take their pension is an important one with significant consequences.

Lately, I have met with several clients who are faced with a very important question,

“Should I roll my pension into an IRA or take the lifetime payments?”

See, pension plans can be distributed in one of two ways;

  1. Through regular installment payments received throughout your retirement years or
  2. Through one lump sum payment (which can be rolled into an IRA)

There are benefits and drawbacks to each option, therefore it is important to weigh each option carefully before making your final decision. Here we evaluate the pros and cons whether you should or should not take the lump sum option on your pension.

Control of the Pension Distribution

One of the potential benefits of opting for the lump sum is the additional control you have over pension funds. This can be beneficial in that most pension plans do not account for inflation when establishing what your monthly annuity payment will be in the years to come. When you choose the lump sum option, you have control over your pension funds and can invest them as you see fit, which can result in additional growth throughout your retirement years.

Control is the largest driving force that have led to most of my clients choosing to roll their pension money over. Most recently, I had a client that said, “I’ve worked for the company 31 years on their terms, now I want to take my money on mine.” Could not have said it better myself.

When you roll it over, you decide when you want your money on your terms. If you want a little extra to spoil your grand-kids on a trip to Disney World, you have the power to do it.

Having control does come with its risks.

You have to be careful to not go on a spending spree and run the risk of spending down your retirement too soon. By choosing the annuity method, you have a guaranteed paycheck for the rest of your life and possibly your spouse if your pension plan allows for it. For some that have a harder time managing money, not being able to have access to the principal may be a good thing.

I have had cases where the client opted to take the lump sum option thinking they could control their spending. Alas, they could not and blew through their entire savings in a short amount of time. Now they have little savings and only Social Security to depend on during retirement.

Security of the Pension

Choosing to get your pension in one lump sum payment, eliminates the security of receiving a monthly check for the remainder of your life, however you do know exactly how much money you are getting. Consider for example, if the company funding your pension annuity payments finds themselves in financial trouble, this may result in problems with your pension payments. There is a Federal agency; the Pension Benefit Guaranty Corp) that may make up for companies that file for bankruptcy, however there are limits to how much money you will receive.

As of 2009, the PBGC has insured pensions up to $54,000 for those that retire at the age of 65. If you’re pension is for more than that and your company goes bankrupt, you might be regretting that you hadn’t taken the lump sum.

As I mentioned above, security of having all your money up front can be reassuring, but; if you mismanage it, you can go through it quickly leaving you with no security in retirement. It’s important to do a self assessment of yourself and your spending habits to make sure you don’t make this mistake.

Estate planning: Don’t Forget the Kids

Annuity payments will cease once you and your spouse have departed. By choosing to receive your pension in a lump sum payment, you can plan your estate to include beneficiaries of retirement funds that are unused during the lifetime of you or your spouse.

In essence that means that if you unexpectedly passed away and your spouse wasn’t too far behind you, all the money that you had paid into your pension goes back to the company.

Another Example of When You Don’t Take the Lump Sum

As mentioned in the first point, it can be attractive to have control of your money when you want it. I had a client meeting years ago that with a gentleman who was a state employee. He was nearing retirement, but still had a few years left. In an effort to entice some of the employees to retire early, the state was offering early buyouts to those that would retire immediately. In his case, the offer was in the neighborhood of $180,000.

At the time, he was dealing with credit card debt and some medical bills, so the offer was enticing. I reminded him that he takes the check, that he would be giving up his guaranteed paycheck in retirement. If he worked just a few more years till age 55, he and his wife were guaranteed around $2,500 per month with the pension. Just a quick calculation using simple interest revealed that in about 6 more years would be the break even point for taking the monthly payments.

Otherwise stated, that after 6 years, he was in far better shape taking the lifetime annuity payment for he and his wife. No question. In this case, taking the lump sum was not the right decision.

Should You Choose the Lump Sum?

The decision as to how you will receive your pension is one that should not be taken lightly. There are several factors to consider and the decision you make today will outline your quality of life for your remaining years. The benefits listed here could also be considered drawbacks if handled incorrectly, therefore be certain you are capable of managing your lump sum payment to ensure you will have financial security in the years to come.

If you feel you cannot properly manage your funds or simply don’t want the hassle of dealing with investments and long term planning, annuity payments might be the better option for you and your family. What is beneficial to one family may not be perceived the same for another, so make sure your decision is based on your unique situation and future needs. If you’re still not sure, be sure to meet with a qualified financial planner to asses your needs and see what direction is best for you.

Source: goodfinancialcents.com

Apache is functioning normally

It seems contradictory, but I love being frugal and I also love spending money. Over the last few years, however, my love of frugality has outweighed my love of spending — and it’s been good for my savings.

Yes, it’s OK to spend money sometimes. If you have it, and you’re comfortable with your present and future finances, by all means, spend away. But a lot of us, including myself, spend when we shouldn’t spend. It’s to be expected, I think, in our consumer culture. I can’t walk down my block without being sold something every minute or so, from billboards to petitioners to window sales.

Anyway, a couple of readers requested an article on how to avoid spending sprees. It’s something I’ve been thinking about lately anyway, so this was a great reason to give the subject more thought and put something together.

Identify the Root of Your Spending

We’ll start with the heavy stuff first because I think it helps put the practical tips into perspective. I recently read Lost and Found by Geenen Roth. Roth and her husband lost their savings in the Bernie Madoff scandal, but her book is mostly about her emotional issues with money. In one chapter, Roth describes an obsession with a pair of chic but expensive eyeglasses she desperately wanted to buy. The obsession is symbolic of her relationship with consumption. In an interview with Time, she explains:

“In the same way that we use food for emotional reasons, we use buying things to fill something that we can’t quite name.”

Roth adds that this can lead to “binge-shopping.” This hit home for me, because I used to spend emotionally, especially when I was younger. Learning to let go of my emotional attachments with spending helped me to avoid these binges.

For Roth, Stuff represented love. For me, Stuff represented acceptance. I recall one binge spree in college particularly well because I was making $10 an hour, and I skipped class to buy a bunch of clothes. This is so insensible, I remember thinking, and it was the first time I realized shopping was emotionally symbolic for me. I felt like, if I got a whole new wardrobe, I might be a different and better person. I’d be more self-assured, less neurotic. (It didn’t work.)

A friend recently told me about her own emotional spending. Like Roth, she equated it to love. “So I learned to love myself differently,” she said. Similarly, during one Christmas shopping spree that set me back quite a bit, I realized I also enjoy buying things for other people to let them know I care. I’ve learned to let them know in other ways.

Again, it’s OK to spend. I had a spendy weekend recently, and while it was a little out of control, I don’t think I was trying to fill a void. I was just having fun. It set my savings back a bit, but it wasn’t totally insensible — I didn’t skip any life duties to go shopping; I didn’t charge anything. And Holly recently discussed spending a lot during her vacation. I didn’t feel like she was trying to fill a void either — she was just enjoying her trip.

I think those instances are different from binge-shopping. To continue Holly’s booze metaphor, those instances are like having one too many beers when you’re out with an old friend. Binge-shopping is like drinking for the sole purpose of getting shit-faced to forget your problems.

Of course, for some people, it’s not that complicated — they just like to buy things. But if shopping has become an uncontrollable issue, it might be because it’s filling some emotional void. Identifying the root of your spending can help curb it.

‘Power Shop’

It seems unlikely now, but my dad used to have a spending problem. He got over it, so I thought I’d ask him how. “I power-shopped,” he said, meaning he’d walk around Best Buy, fill his basket up with Stuff and then put it all back. It seems kind of crazy, but it helped him let go of his desire to consume everything.

Reader Erica does the same thing. In her comment, she wrote:

“I find if I walk around with something in my hand in the store, after a while, I’m over it and I can put it back.”

I guess the idea is that, after “owning” something, you realize the product isn’t going to significantly change your life. It loses any appeal and meaning you might have attached to it. You realize it’s just a thing.

Erica did say this doesn’t always work, though, and my dad warned that it takes a lot of discipline. I imagine it can backfire if you’re good at arguing with yourself.

Focus on Your Goals

This is another thing that worked for my dad, and it also worked for me. Instead of focusing on the things I didn’t have, I focused on my financial goals. I checked my budget daily, read personal finance and frugal living blogs, monitored my goals and watched my net worth rise. The more focused I’ve become with my financial independence, the less obsessed I am with shopping. Yes, I still want things. But I don’t give in as much because giving in gets in the way of my goals.

Wait

Because emotional shopping is usually impulsive, waiting helps you decide whether you really want something or you’re just spending to spend. “I’ve gotten to a point of waiting a week or a month or a year,” my dad told me. “And if I still want or think I need it, then so be it, I will get it. But, usually, it turns out that the impulsive thought has passed.”

Avoid Shopping With Spend-Happy Friends

I have a friend whom I used to love shopping with. Why? Because he always bought something. This made me feel better about my own spending. If I’m wavering, and I see my friend buying something, I don’t know why, but I’m more apt to give in.

Avoid Stores

Especially when I feel vulnerable, I just avoid certain stores. Lots of stores trigger my emotional spending and make me feel like I need to own half of their inventory. It makes sense; companies spend a lot of money and put a lot of effort into appealing to our vulnerabilities.

Take a Field rip Without Your Wallet

This seems contradictory to the previous tip, but it helped me learn to appreciate things without the need to own them. Visit your favorite store without any money. For me, this squelched instant gratification. Without money or credit cards, you have no way to consume, and you’re forced to just accept products for what they are. This helped me appreciate the aesthetic or usefulness of something without forcing myself into the equation. So instead of representing anything significant, the thing is only a thing. It might be beautiful, it might be cool, but that’s all it is.

Another interesting thing about visiting your favorite store without money is that you also become aware of all of the subtle tricks that convince shoppers to spend — the clever advertising, the strategic store layout, the proportionate mannequins — and hopefully, you’ll remember these subtle tricks during a future temptation.

Make a List of Things You Already Have

It sounds a little obsessive, but to curb my temptation, I used to keep a list on my phone of all of the Stuff I’ve spent money on in the past year. While shopping, I’d get that little voice in my head telling me: Hey! You reeeally don’t need this.

It’s easy to ignore that voice. Something tangible, like a list, is harder to ignore.

Also, if there’s something I want, a list helps me compare it to what I already have. I ask myself, “What is it about this new thing that I like?” Usually, I already own something that possesses those qualities.

Just Stop

It’s easier said than done, I know. But when I’m particularly fed up with my desire for Stuff, I just stop. I think about things in perspective. Overspending — what a problem to have! I think about my mom’s awful stories of growing up in poverty. I think about how spoiled overspending must sound to someone who’s really struggling. And I just don’t do it. Guilt probably isn’t the best tool; but instead of the guilt, if you focus on the abundance you already have, whether it’s family, friends, independence, whatever, it can help stop the urge to spend.

I’ve gotten better, but I still have setbacks. When I’m overwhelmed with work and nothing seems to be going my way, I’m especially susceptible to “retail therapy.” And, again, it’s not bad to want things. But when it gets in the way of your well-being, financial independence or life goals, it’s a nasty problem.

Source: getrichslowly.org

Apache is functioning normally

Now let’s talk about the top mortgage lenders in Indiana, based on their most recent year’s loan volume.

In 2021, nearly 900 mortgage companies funded about $73 billion in home loans there, with the average loan amount about $199,000.

But two lenders stood above the rest, and made the race for first place a very close one.

However, the nation’s top lender, Rocket Mortgage, managed to hold off a much smaller competitor, just barely.

Read on to see which other mortgage companies were some of the largest in Indiana.

Top Mortgage Lenders in Indiana (Overall)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $3.5 billion
2. Ruoff Mortgage $3.4 billion
3. Caliber Home Loans $2.4 billion
4. Chase $2.1 billion
5. Freedom Mortgage $1.9 billion
6. 3Rivers FCU $1.9 billion
7. Huntington Bank $1.5 billion
8. Wells Fargo $1.3 billion
9. Fifth Third Bank $1.3 billion
10. Newrez $1.3 billion

Last year, Rocket Mortgage funded $3.5 billion in home loans in the state of Indiana, per HMDA data from Richey May.

That was just enough to hold off second place Ruoff Mortgage, which put up a very good fight with $3.4 billion funded.

The company is based in Fort Wayne, IN, and did their best to take the top spot in their home state.

In third was Coppell, TX-based Caliber Home Loans with an admirable $2.4 billion, followed by Chase with $2.1 billion and Freedom Mortgage with $1.9 billion.

The other big players in The Hoosier State included 3Rivers Federal Credit Union, Huntington Bank, Wells Fargo, Fifth Third Bank, and Newrez.

Just two of the top 10 are headquartered in the state of Indiana (Ruoff and 3Rivers), though two others are based in Ohio (Huntington and Fifth Third).

Top Indiana Mortgage Lenders (for Home Buyers)

Ranking Company Name 2021 Loan Volume
1. Ruoff Mortgage $2.2 billion
2. Caliber Home Loans $1.3 billion
3. GVC Mortgage $854 million
4. Fairway Independent $843 million
5. Chase $762 million
6. AmeriHome Mortgage $761 million
7. Rocket Mortgage $742 million
8. Newrez $684 million
9. U.S. Bank $676 million
10. Pennymac $618 million

About half of total mortgage volume consisted of home purchase loans in the state of Indiana.

And when we only consider these types of loans, hometown favorite Ruoff Mortgage takes the cake with $2.2 billion funded.

That was way more than any other company in the state, with second place Caliber Home Loans only managing $1.3 billion.

In third was Pendleton, IN-based GVC Mortgage with $854 million, followed by Madison, WI-based Fairway Independent Mortgage and NYC-based Chase.

The rest of the best included AmeriHome Mortgage, Rocket Mortgage, Newrez, U.S. Bank, and Pennymac.

All big, household names other than the two Indiana-based lenders (Ruoff and GVC).

Typically, you’ll get more local brands when it comes to home purchase loans, but not the case in Indiana.

Top Refinance Lenders in Indiana (Existing Homeowners)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $2.8 billion
2. Freedom Mortgage $1.7 billion
3. 3Rivers FCU $1.5 billion
4. Chase $1.3 billion
5. Ruoff Mortgage $1.2 billion
6. Caliber Home Loans $1.1 billion
7. Fifth Third Bank $869 million
8. Union Savings Bank $856 million
9. Huntington Bank $804 million
10. loanDepot $745 million

There’s less loyalty, or need for face-to-face interaction when it comes to mortgage refinances. So typically the biggest national brands lead the way.

This was the case in Indiana, where Rocket Mortgage led with $2.8 billion in refis during 2021.

Freedom Mortgage was somewhat close with $1.7 billion in second place, followed by 3Rivers FCU with $1.5 billion.

In fourth was Chase with $1.3 billion, followed by Ruoff Mortgage with $1.2 billion in fifth.

Others in the top 10 included Caliber Home Loans, Fifth Third Bank, Union Savings Bank, Huntington Bank, and loanDepot.

Oddly, there were more local-ish brands in the refi category than the home purchase category.

Top Mortgage Lenders in Indianapolis

Ranking Company Name 2021 Loan Volume
1. Caliber Home Loans $1.8 billion
2. Rocket Mortgage $1.4 billion
3. Chase $1.1 billion
4. Huntington Bank $1.1 billion
5. Ruoff Mortgage $1.0 billion
6. Freedom Mortgage $873 million
7. Fairway Independent $863 million
8. GVC Mortgage $857 million
9. Union Savings Bank $783 million
10. Newrez $676 million

Top Mortgage Lenders in Gary

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $472 million
2. Centier Bank $335 million
3. Chase $327 million
4. Guaranteed Rate $319 million
5. Freedom Mortgage $244 million
6. Wells Fargo $228 million
7. Diamond Residential $208 million
8. Newrez $187 million
9. AmeriHome Mortgage $185 million
10. Mr. Cooper $181 million

Who Are the Best Indiana Mortgage Lenders?

There are literally thousands of reviews for the big, national mortgage companies and banks.

But what about the more local options, and specifically those headquartered in the state of Indiana?

Well, Ruoff Mortgage has an excellent 4.98/5 on Zillow from about 825 customer reviews, which is nearly perfect.

And GVC Mortgage has a 4.99/5 from over 200 reviews. Meanwhile, Evansville, IN-based Mortgage Masters of Indiana, Inc. has a perfect 5-star rating from nearly 1,300 reviews.

They aren’t on the big volume lists above, yet have an unheard of customer satisfaction score in Zillow.

There’s also Evansville Teachers FCU with a 4.99/5 from 400 reviews, First Savings Bank out of Jeffersonville with a 4.96-star rating, and Fishers, IN-based First Internet Bank of Indiana with a 4.70-star rating.

So clearly there are a lot of excellent mortgage options in the state of Indiana to choose from, whether big, medium, or small.

And while you’re searching for a home loan provider, don’t forget local, independent mortgage broker as well.

Source: thetruthaboutmortgage.com

Apache is functioning normally

Mortgage borrowers generally aren’t big shoppers, and they could be leaving three-figure sums on the table each month because of it, independent researchers found in a new study of what loans have sold for in the market.

“We found that price dispersion for mortgages is often around 50 basis points of the annual percentage rate,” the study’s authors, Alexei Alexandrov and Elizabeth Saunders, said in the analysis of 2021 Home Mortgage Disclosure Act data.

Looking at the median loan size and fixed rate range for a typical mortgage from that year ($300,000 and 3%-3.5%, respectively), the two researchers determined the monthly payments available would be between $1,235 and $1,347 (an $82 difference).

They then re-ran the numbers, accounting for the runup in rates over the past year. In doing so, Alexandrov and Saunders found the monthly payment range for 6.5% to 7% mortgages would be $1,896-$1,996, (a $100 difference).

If rates rose even higher, the savings available could be even greater, the study published by the Consumer Financial Protection Bureau noted. (The CFPB said that it did not endorse or necessarily share the views of the study’s authors.)

While higher rates do tend to make lenders more willing to compete based on price, particularly in the wholesale channel, it’s not a given that all mortgage companies will.

“Competition in the mortgage market is not always channeled into lower prices,” the authors of the CFPB study noted

Reasons for this cited in the study were:

  • “Lenders with less restrictive overlays … might charge higher prices, to compensate for the additional risk,” they researchers said. (Overlays are additional criteria beyond those government-related entities apply to loans the back for lenders. A high percentage of mortgages in the United States are currently agency-backed.)
  • Different lending business models have different costs associated with them, depending on factors like whether they have physical branches and retain servicing or not.
  • When demand increases or is high like it was due the availability of historically lower rates in 2021, lenders will sometimes raise their prices with the aim of limiting volume to levels they have the capacity to process.

Source: nationalmortgagenews.com