Latest news with #Gallop
Forbes
7 days ago
- Business
- Forbes
3 Smart Money Moves To Build Wealth During Uncertain Times
Building wealth can be a challenging task, especially in challenging economic times. Recent economic uncertainties —including concerns about job security, rising tariffs, ant the significant increase in the cost of everyday food items like eggs, meat and fish —highlight the urgency of reassessing our financial habits. The current economic climate demands that we become more intentional about how we plan and manage our money to secure a better future and build wealth. While most people would love to have solid finances and secure their long- term financial future, the reality is very different at the moment with 57% of Americans living to paycheck according to a recent MarketWatch report. And, according to a recent Gallop survey, 53% of Americans are now concerned about their financial future, - the highest level recorded since Gallop began tracking this data in 2001. Here are three things that you can implement if you're looking to get a stronger hold on your finances and build wealth despite these challenging times. Young family with cute little baby boy going over finances at home Tracking your spending over the next 30 days can improve your financial health. It can also allow you to pinpoint areas where expenses can be reduced. Common budget drains include unused subscriptions, avoidable fees and charges such credit card interest, overpaying on utilities, cable, phone plans. Apps like Rocket Money and Trim can help you identify and manage unused subscriptions and negotiate bills. Additionally, apps like Empower, You Need a Budget (YNAB), and Monarch can help you take a close look at your expenses and identify where you can reduce your expenses and redirect those savings towards your wealth building goals. You can even take it a step further and budget every dollar to minimize unintentional spending and increase savings. While aggressively paying off debt can contribute to your peace of mind, there are times when a dual approach— paying off debt while also investing in your future— makes better financial sense. If your debt carries an interest rate below 7%, it may be wiser to make regular required payments towards your debt while investing the difference. Historically, the stock market has returned between 7 and 10 % annually and provides a way to build significant wealth over the long-term rather than simply being debt-free or having a zero net worth. Also, prioritizing having an emergency fund of at least six months of living expenses can provide a financial cushion that is crucial in these challenging times. And passing up opportunities such as an employer 401K match or investment opportunities during market downturns to solely focus on getting out of debt can be detrimental to your financial future. Additionally, it's important to start investing by using tax-advantages accounts like 401Ks, 403bs, IRAs to ensure that you are minimizing your tax burden, which will in turn give you more money to invest and provide a bigger opportunity to build wealth. In many cases, investing the difference between your required low interest debt payments and any remaining funds can make a huge difference in your long-term wealth. A couple of young businessmen are astounded by the profits coming in. The S&P 500 dropped by 4.84% on April 3rd, 2025, and by another 5.97% on April 4th, 2025, This year, we witnessed the sharpest declines in the S&P 500 and NASDQ since the COVID-19 crash. Yet by mid-May 2025, the market had rebounded and had regained all its April losses. This pattern shows why it is important to continue to invest even during market downturns, when the market can provide opportunities to buy quality investments at lower prices. This year, we are likely to see more volatility in the market, but that doesn't mean you should step back. It's extremely difficult to time the market. That's why it's wise to dollar cost average into good companies, it will pay off in the long run. Asset allocation dividing an investment portfolio among different asset categories. Diversifying your investments is important in any economic environment, but it's even more important during periods of high market volatility like what we've experienced so far in 2025. For instance, if all your money was invested in Nvidia prior to March 31st, your portfolio would have experienced a drop of 14.7% during those same two highly volatile days of April 2025. In contrast, if your money was spread across a total market ETF like VTI or a VOO, your portfolio would have temporarily declined — by 10.3 and 10.7%, a less severe drop. Diversifying your investments and including low-cost index funds as part of your investment strategy is always wise. If a recession were to hit, no one could predict which stock will thrive 15 years from now —but 100 year of history shows that the broader market tends to recover and grow over time by 7 to 10 % every year on average. By spreading your investments across the market, and into alternative assets like real estate, you can reduce risk, manage volatility, and build a solid path to long-term wealth. Regardless of your current situation is, it's beneficial to closely examine your spending to reduce waste, implement a debt repayment strategy that also optimizes wealth building, and review your investment approach to put enough emphasis on diversification.
Otago Daily Times
20-05-2025
- Business
- Otago Daily Times
Hospitality chain takes over Lyttelton Club
The financially troubled Lyttelton Club will be taken over by the Armadillos restaurant chain from August. The 153-year-old club will lease its Dublin St premises to the South Island hospitality chain, which has committed to retaining all current staff. Details on membership options for existing club members are expected to be announced in the coming months. Under the new arrangement, the club will operate as The Lyttelton Tavern and Armadillos Lyttelton as part of the South Island-based chain. A meeting was held in March to discuss future options for the club after the governance committee said it lacked enough support from members and could not remain open. 'Despite (our) best efforts, there is not enough support for the club to remain open. We understand circumstances can change, but the lack of engagement and involvement from the broader membership base has ultimately led to this decision,' governance group member Steve Gallop said in an email to members in February. Speaking to The Star this week, Gallop said a 'declining and ageing membership' meant leasing the building to Armadillos was the best financial option. After The Star revealed in February the club's plans to close, governance group member Dwayne Pool said the original email 'said nothing about the club closing or being in financial difficulty' and claimed the media misrepresented the situation. However, the email clearly stated the club would be weighing up options, but 'either way, the Lyttelton Club will close'. It is not the first time the club has experienced financial woes. It came close to shutting in December 2022 due to pandemic-related pressures and insurance issues. Leasing was a proposed option in the March meeting along with a full sale or turning the building into a community centre. Under the new arrangement, some areas of the building, such as its private function venue, may stay under the operation of the club but this has not yet been determined, Gallop said. The exact structure and future of the club as an entity is also up in the air and will be decided on by members before the August rebrand. 'We feel this is an exciting new opportunity for Lyttelton and it means the building will continue to be used by the community,' Gallop said. The venue will be renovated and will feature a new menu. A new patrons club will also be launched, offering benefits to long-time members and newcomers alike, with more details to come. The venue will remain open during the transition. 'We're thrilled to be joining the Lyttelton community,' said Tony Crosbie, Armadillos Hospitality Group managing director. 'This venue has a rich history and loyal following, and we're committed to maintaining that strong community feel while giving the space some modern touches.'
BBC News
28-04-2025
- BBC News
Drivers targeted in West Yorkshire horse crime crackdown
Drivers who pass horses and their riders too close or too fast will be targeted as part of a crackdown on equine crime, a police force has Gallop would focus on issues affecting horse owners and riders as part of a national week of action, according to West Yorkshire part of the operation, equestrians would be encouraged to sign up to the force's Horsewatch scheme, which had seen the number of horses reported stolen falling from 65 to seven in the 15 years since its introduction, a spokesperson would also visit stables to advise on preventing horsebox theft, which Shaun Taylor, the force's wildlife crime officer, said was "an increasing problem". "This includes keeping a record of the serial numbers and any custom markings on the trailer, as well as forensically marking them," Mr Taylor said."With the increasing use of police drones, owners can also consider putting some kind of marking on top of the box that will make it stand out when viewed from above."Mr Taylor said the week of action was also intended to "educate road users about how to safely pass horses on the roads"."Drivers should slow down to a maximum of 10mph and allow a two metre distance when passing. They should then drive slowly away once safely past," he added. Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
Yahoo
17-04-2025
- Yahoo
State Attorney: Driver in high-speed crash on Cocoa exit ramp indicted for murder
A 41-year-old driver who flashed an obscene gesture at troopers during a high-speed interstate chase before slamming into a parked tow truck on a Cocoa off-ramp, killing his three passengers, has been indicted by the Brevard grand jury. The Brevard state attorney's office announced April 17 that Vernon James Hodges of Sebastian was formally charged on 17 counts, including three counts of first-degree felony murder; aggravated fleeing to elude, causing death; three counts each of DUI manslaughter, vehicular homicide, and driving without a license or while license suspended or revoked, causing death; DUI with serious bodily injury; and driving under the influence and causing damage. The deadly crash happened at 8:30 a.m. March 28. Hodges was arrested and jailed April 3. Florida Highway Patrol troopers said Hodges was driving a 2015 Mercedes-Benz northbound on Interstate 95 when they spotted the vehicle going over 100 mph and initiated a pursuit. Troopers said Hodges, as he exited at State Road 520, waved out the window and made an obscene hand gesture moments before the Mercedes plowed into a tow truck parked on the shoulder. Records show the Mercedes slammed into the back of a flatbed tow truck, shredding the car, and spun across the roadway. Hodges climbed out of the crushed vehicle with a laceration to his arm while his passengers — Alicia M. Carter, 31, of Melbourne, Eleasya J. Fulton, 24, of Palm Bay, and Leon Holmes, 41, of Vero Beach — were killed on impact. Tow truck driver John Youmara, 39, of Palm Bay, was also seriously injured and is recovering. He was working under the rear axle of the truck, preparing it to be towed, and became trapped beneath the wreckage. Hodges was hospitalized at Holmes Regional Medical Center and later arrested. He remains held without bond at the Brevard County Jail Complex in Sharpes. J.D. Gallop is a criminal justice/breaking news reporter at FLORIDA TODAY. Contact Gallop at 321-917-4641 or jgallop@ Twitter: @JDGallop. This article originally appeared on Florida Today: Driver in Cocoa exit ramp crash that killed 3 indicted for murder
Yahoo
30-03-2025
- Yahoo
Titusville driver booked on DUI charges in deadly crash
TITUSVILLE — A 28-year-old man has been charged with DUI manslaughter after Titusville police said he fatally struck a pedestrian Friday afternoon. Dallas Scott Weed was driving a Dodge work truck westbound on Columbia Boulevard at about 2:50 p.m. Friday when he hit a man who was returning to work at a nearby Walmart Supercenter on 3175 Cheney Highway. The man, whom police did not identify, was taken to a nearby hospital, where he died at 4 p.m., police said. Police found Weed at the scene of the crash and determined that he showed signs of intoxication. Weed was booked into the Brevard County Jail Complex and held on $15,000 bail. J.D. Gallop is a criminal justice/breaking news reporter at FLORIDA TODAY. Contact Gallop at 321-917-4641 or jgallop@ Twitter: @JDGallop. This article originally appeared on Florida Today: Titusville driver booked on DUI charges in deadly crash
