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How an organization within the United Arab Emirates equips its staff with good cash expertise

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Restaurant manager Ralph Joseph Cruz is quick to admit that he’s not always been as smart with money as he is now.

The Filipino father of one child fulfilled his remittance obligations to his family and sent cash to cover their living expenses while he worked in Dubai.

“But I didn’t know how to properly manage money,” said Cruz, 37.

He devoted a large part of his salary to going out.

“I thought as long as I send money to my wife, that’s fine.”

Ralph Joseph Cruz, restaurant manager at Off The Hook, has cut his personal expenses and is now saving more for the future of his family beyond daily needs. Ruel Pableo for The National

But his mindset changed when he started working for the seafood restaurant chain Off The Hook in 2017. Mr. Cruz realized there was more he could do, including saving for the future of his 12-year-old son.

With nine offices in the United Arab Emirates, the company offers financial literacy mentoring to its 90 employees to help them better manage their earnings.

Mr Cruz, who is based in the Port Saeed restaurant in Deira, first came to Abu Dhabi from his country in 2014.

“You can’t earn that much in the Philippines, but I have to think about my son’s future, that’s why I’m here,” says Cruz.

“I used to send money to my wife and son; just give them enough for basic needs.

“Once I posted it, I would do whatever I wanted; [I thought] I had done my duty … now it is no longer like that. “

I didn’t know how to properly manage money. I thought as long as I send money to my wife, that’s fine

Ralph Joseph Cruz, restaurant manager, Off The Hook

Together with his colleagues, Mr. Cruz was encouraged by his boss, Rolly Brucales, the manager of the restaurant chain, to review his spending habits and financial possibilities.

Mr. Brucales, who is also from the Philippines, wants his employees to feel like part of a family and to be given better knowledge of dealing with money.

Accountant by profession, Mr Brucales, 46, has made it his business to impart financial knowledge to the employees of the restaurant chain.

During the Covid-19 pandemic, the company invited motivational speakers to inspire employees.

Despite the global health crisis, none of the restaurant’s employees have been laid off. Instead, Off The Hook added four branches.

The process of financial literacy for the restaurant staff usually starts with an Excel spreadsheet to show expenses and potential improvements or cost savings, Brucales says.

Lessons include insights into investing in the stock market and mutual funds, with advice from Mr. Brucales, friends, and co-workers through group presentations, over coffee, or zoom chats.

Mr Brucales, a father of three who lives in Abu Dhabi, says some of his compatriots tend to spend on “food and glamor” while in the United Arab Emirates.

In some cases, they return to the Philippines with little to show for their time abroad, he adds.

He wanted to “change their direction” and how they used their earnings – and he realized that he could do this through his organization as it grew.

“It was my goal and that of the partners that the employees, when they leave the company, be trained in how to handle money when they return,” he says.

“In our community, many live like millionaires and buy things they don’t need,” says Brucales.

But they return to the Philippines with no property or investment and end up working again, he says.

“We need to remind them what the big ‘why’ is that you are here … for your family. They can then raise their family members [who are receiving remittances] as.”

Making money is easy, but keeping it and growing it can be a challenge for some

Rolly Brucales, General Manager, Off The Hook

Mr Brucales, who has monthly meetings in each store, says it’s “easy to make the money” but it’s challenging for some to keep and grow it.

His tips include keeping 30 percent for investments while the remainder of the salary goes towards living expenses and remittances. In addition to the investment risks, it is also important to identify the purpose of the investment – such as the financing of old-age provision or training costs.

“The secret is to list the expenses on a monthly basis; That way, you know where your money is going, ”says Brucales.

“With every investment you have to think carefully about what you are going to do. The analysis is very important and part of our learning … what a mutual fund is, the stock market. “

At the beginning, however, the task can simply be to help an employee open the right account in the Philippines through which they can then feed their investment vehicles.

Mary Ann Capistrano, a recently promoted store manager after nearly four years at Off The Hook, admits she was not a “good saver” before leaving the Philippines to work as a cashier and waitress.

“My family did not oblige me to give them any money,” says Ms. Capistrano, who is single.

“But my aunt who asked me to come here has returned to the Philippines forever, so I am [now] the breadwinner. “

Financial mentoring taught her how to achieve more with her dirhams and helped her focus on achieving her goals, she says.

“I have to understand why I have to save and invest for myself,” says Capistrano, who previously sent her entire salary to the Philippines for her mother and grandmother who needed medication.

Mary Ann Capistrano, branch manager at Off The Hook, says her financial mentoring has helped her focus on achieving her goals. Ruel Pableo for The National

Now she’s more effective in budgeting and saving on renovating a family home and buying her own apartment to start a family.

Ms. Capistrano says Mr. Brucales allowed her more financial discipline and strategy, even though she was already frugal on her personal expenses, as she wasn’t throwing a party on her last 30th birthday.

She now feels more confident about her future.

“I used to focus on my family, but since I became literate [lessons] I had to save for myself and at the same time send money for my family, ”she says.

Ms. Capistrano also plans to invest in Off The Hook through the company’s incentive program, which allows employees to become shareholders.

Employees are regularly given an incentive amount when their branch meets targets – they have the option to take it as cash or invest in the company for which they receive dividends.

I need to understand why I should save for myself and why I have to invest

Mary Ann Capistrano, Store Manager, Off The Hook

“It’s like it’s theirs,” says Brucales, who sees the program as a great way to reward employees while building loyalty through a tangible investment.

“We have set ourselves a goal in every branch. Most of the time, they hit the target and get a percentage of it, ”he explains.

“We want to innovate the way we lead and the people behind this success [with] the same vision. “

The brand, which is popular with Emiratis as well as Filipinos and other nationalities, has three branches in Dubai, five in Abu Dhabi and one in Al Ain. Franchise branches are to follow in Sharjah, Ras Al Khaimah and other GCC countries.

Mr Brucales, the son of merchant parents who run a meat stand, moved to the United Arab Emirates in 2004.

Mr Brucales first traded supplies for a medical company in Abu Dhabi, then began selling Filipino real estate to GCC-based Filipinos seeking long-term investments, and opened a tailoring shop to satisfy his entrepreneurial appetite.

He and six business partners, including his wife Angie, opened their first Off The Hook restaurant in Abu Dhabi in 2016.

Mr. Brucales cites his successful business trip from “humble beginnings” as an inspiration for caring for employees.

“I have made it my mission to strengthen not just my employees, but everyone in terms of financial literacy so that they can consciously achieve financial freedom,” he says.

“I speak. I want everyone to go home with money and investments. “

This also includes Mr. Cruz, who has set himself financing his son’s education as his financial goal.

Since he has reduced his personal expenses, including nightlife expenses, he saves more for his family’s future beyond what is needed on a daily basis.

He’s created an account to fund a college education and is also investing in Off The Hook.

“With financial literacy, I started thinking long-term … I have to have a goal [and] I have a goal now, ”added Mr. Cruz.

Supporting financial literacy employees is becoming more common in companies, says Carol Glynn, founder of Conscious Finance Coaching.

“Improving employee finance literature is beneficial for employers as studies show that financial stress leads to lower productivity and more absenteeism,” says Ms. Glynn.

“According to USA Today, companies that invest in financial literacy or wellness programs for their employees achieve an average return of 300 percent from a happier, more present, and more productive workforce.

“And this applies to individuals of all salary levels … the lack of knowledge of money or education is a problem in all income groups and industries.”

However, it’s important to make sure employees understand the risks and terms of buying stocks specific to the company they work for, says Ms. Glynn.

The pandemic was a wake-up call for everyone to save money, and a child’s college degree or an apartment can be the tangible result of an employee’s work in the UAE, Brucales says.

“It’s also a success story for the brand as your organization and staff are financially stable,” added Mr. Brucales.

“We’ll make sure they take more of their money home with them because the brand’s success comes from them too.

“Sometimes other employers forget that.”

Updated: August 22, 2021 at 5:00 a.m.

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

Copenhagen, Toronto, Singapore the most secure cities on this planet

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Copenhagen was named the safest city in the world in a new, far-reaching study by the Economist Intelligence Unit (EIU).

The Danish capital overtook former leaders such as Tokyo, Singapore and Osaka in the fourth edition of the EIU’s biennial Safe Cities Index, which included environmental safety indicators for the first time.

In a study of five pillars of urban security – digital, health, infrastructure, human resources and the environment – Copenhagen topped the charts, scoring 82.4 out of 100 points.

Covid-19 has changed the whole concept of urban security.

Pratima Singh

Project Leader, Economist Intelligence Unit

Here are the 10 safest cities in the world

  1. Copenhagen
  2. Toronto
  3. Singapore
  4. Sydney
  5. Tokyo
  6. Amsterdam
  7. Wellington
  8. Hong Kong
  9. Melbourne
  10. Stockholm

This year, the EIU’s Safe Cities Index rated 60 cities based on 76 safety indicators in order to get a better picture of global urban safety.

The inclusion of the new environmental security pillar reflects the increased importance of sustainability issues and climate adaptation measures after the coronavirus pandemic. Toronto and Copenhagen performed significantly better in the new environmental security pillar than any of the top 3 cities from previous years.

Covid-19 affects global security

In fact, in addition to health security, the coronavirus had an impact on all safety metrics, the report’s authors found.

“Covid-19 has impacted all aspects of urban security,” said Pratima Singh, EIU’s Safe Cities Index project manager, to CNBC’s Squawk Box Asia on Monday.

We see a very strong correlation between high income countries and index performance.

Pratima Singh

Project Leader, Economist Intelligence Unit

For example, digital security has become a higher priority as work and commerce have moved to the internet, while infrastructure security has had to adapt due to changes in travel and utility consumption.

Elsewhere, personal safety has been compromised by a change in crime patterns during the lockdown, and environmental safety has come to the fore as the pandemic served as a powerful warning of an unexpected crisis.

Singh said the results should remind governments and policymakers that further investment in security measures is needed – especially in politically and economically unstable countries.

The least safe of the 60 cities measured included Lagos, Cairo, Caracas, Karachi and Yangon.

“We see a very strong correlation between high-income countries and the performance of the index,” said Singh. “We see that some of the higher-income countries … are also doing well in infrastructure, while some of the lower-income countries need to give increasing priority to infrastructure investment.”

Do not miss: Covid does not prevent students from going abroad to study, the report shows

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Demi from BiP reacts to being “rejected” and leaving one other lady

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DemiFortune fell dramatically and then rose, um, during the latest episode of Bachelor in Paradise.

On Monday 23 August, the alum from Colton UnderwoodThe season officially made its grand entrance in Mexico, with a date card in tow. Ultimately, she decided to invite Brendan, much too Natasha‘s annoyance, although Brendan made it clear in the middle of the date that maybe he shouldn’t have gone with Demi after all.

After a flirtatious date with jet skis and slides, the couple enjoyed a kiss, which led Demi to tell the standout about Tayshia Adams‘Bachelorette season that she “would love to do this to you every day.” Brendan immediately stepped on the brakes, responding that he “obviously talked to other girls and formed certain things with other girls”. Ouch.

“I feel like I’ve just been rejected,” Demi told the camera. “I’ll do whatever I can to take you on a fun date and do all that stuff with you, make out with you, have fun with you, and then you’ll say, ‘Oh, I still … want my options keep open ‘? My ego is very hurt right now. “

Find out how to Change Your Mindset to Get Higher at Every part with Eduardo Briceño

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Image for article titled How to Change Your Mindset to Get Better at Everything with Eduardo Briceño

Photo: Micaela Heck / Elena Scotti

This week we will learn to change our way of thinking with the help of Eduardo Briceño – keynote speaker and expert in growth mindset theory. Hear Eduardo talk about how having a growth mindset can help you improve, what questions to ask yourself if you are caught falling into a fixed mindset, and what approaches to take when trying to find one Cultivating a growth mentality in others.

Eduardo is the most booked keynote speaker on the topic of growth mindset and co-founder of Mindset Works – a pioneer in growth mindset development services and programs, which he founded together with Stanford professor (and growth mindset pioneer researcher) Carol Dweck and Lisa Blackwell called. His TED Talks and work with Professor Dweck have encouraged millions to foster a culture of development and innovation.

Listen to The Upgrade above or find us in all the common places that serve podcasts, including Apple Podcasts, Google play, Spotify, I was listening to the radio, and stapler.

Highlights from this week’s episode

From the Eduardo Briceño interview

How a fixed mindset versus a growth mindset might see failure, such as B. Not getting a job after an interview:

Someone with a steady mindset might take this as evidence that they are either unable and unable to do this type of work, or they might refer to the other person with the words “that.” [interviewer] is incapable, they cannot see the good in me. ”And both of these lead to the fact that we cannot act, become better and position ourselves better for the future. So if we go to an interview with someone and it’s not really good, it’s going really bad, we could really come down and say, “Oh my god, I’m such an idiot. I can’t give interviews. So what could I do without having an interview? ”Versus:“ What can I learn from this interview? What can I practice differently? Who can help me prepare for my next interview and how can I get better in order to position myself for the future? “

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Here’s how you can tell when you might be stuck in a fixed mindset:

What we can do first as adults is to learn about the mindset. So if anyone has and has read the book Mindset by Carol Dweck, I highly recommend it. Or there are plenty of videos and resources online to learn more about it so we can better understand how this might affect my life and then think about when I might be in a fixed mindset? And what things tend to put me in a fixed mindset? Is it when I get feedback? Is it when I make mistakes? Is it when I am in a certain situation? … Something else to think about could be: What do I appreciate about people? For example, if I value kindness, do I tend to see kindness as something people either have or not have, or something that can be developed? Because if people are not friendly to me then I could call that person an unkind person or that person is X, Y, Z and that could lead to me responding as a kind of warfare and trying to knock them down instead of myself being constructive to entertain to share my point of view, to listen to them and to learn from one another and to influence one another. So these are some of the things we can do.

Who can potentially benefit most from learning more about the mindset of growth:

When we conduct growth mindset interventions, the people who benefit most from it who face negative stereotypes, like people of color and women in math and science. There are negative stereotypes that women and girls are less good at math and science, which is not true. But the stereotype is an unconscious bias. And it turns out that when we do growth mindset interventions, everyone benefits when people get into a growth mindset. But the people who benefit the most from it are the ones who face negative stereotypes … we tend to be afraid to confirm the stereotype as true. This could result in us taking fewer risks and not doing certain things that others could, because if things don’t go well, others will think less of our group. We don’t want to let our group down. So when we are in a growth mindset, for example, we are less affected by the threat of stereotypes.

To learn more about Eduardo’s insights into the theory of growth thinking and how to cultivate it, we recommend listening to the full episode.

Episode transcript

Disney World requires Covid-19 vaccinations for unionized staff

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Guests wear masks. upon need. to attend Magic Kingdom’s Official Reopening Day at Walt Disney World in Lake Buena Vista, Florida on Saturday, July 11, 2020.

Joe Burbank | Orlando Sentinel | Getty Images

Disney has reached an agreement with its unions that all unionized employees at Walt Disney World in Florida will be fully vaccinated against Covid-19 by October 22, 2021.

The move comes almost a month after Disney mandated that all of its salaried and non-union workers in the U.S. be fully vaccinated against the coronavirus by the end of September.

No agreement has been reached with unions on the west coast that look after Disneyland Resort employees.

The Service Trades Council Union, which is made up of six member unions representing about 43,000 Disney performers in Florida, said the company will host on-site vaccine events for employees over the next few weeks.

“Vaccines are safe, effective and free,” the union said in a memo to members on Monday. “As of today, the Pfizer vaccine is FDA approved and offered by the company to get rid of this deadly virus.”

On Monday, the Food and Drug Administration fully approved the Covid-19 vaccine from Pfizer and BioNTech, making it the first in the US to receive the coveted award and giving even more companies, schools and universities more confidence in accepting vaccine mandates gave.

So far, the mRNA vaccine, now marketed as Comirnaty, has been on the US market under emergency approval granted by the FDA in December.

Workers with illnesses or “sincere” religious beliefs are entitled to an exemption, the union said.

Disney considers its employees fully vaccinated if they are at least two weeks after vaccination is complete, whether after the second dose of the Pfizer or Moderna vaccine or after a single vaccination of the Johnson & Johnson vaccine.

Disney has updated its safety guidelines in line with local health regulations since the pandemic began, both domestically and internationally. Most recently, the company required proof of a Covid vaccination or a negative Covid test before entering its Paris amusement park according to French guidelines.

This is the best way to check Chrome’s save tab teams characteristic early

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Image for article titled How to Test Chrome's Tab Group Save Feature Early

Chrome’s new tab groups are a polarizing topic among users, but Google continues to bolster the feature with new features that are worth trying out. Tab groups let you organize open pages into different groups – which makes juggling all those tabs a lot easier – and now Google is testing the possibility of saving tab groups so you can open them again later.

It’s basically a different way to bookmark pages, but unlike regular bookmarks or the Reading List menu, saving tabs lets you open all of the tabs in a saved group at once, which makes it more convenient when you routinely browse the same sites at the same time need to open.

Personally, saving tabs is helpful as I have to open Google Drive, multiple email accounts, work calendars, and more as soon as I launch my browser on weekdays – and I’m sure many of you can understand that. Being able to load all the pages I need at once saves time.

Saving tab groups is only available in Chrome Canary on desktop for now, but its presence in the latest test build means it should be rolled out to the stable version soon. You can try it out early by downloading Chrome Canary version 95, which is available from the Chrome downloads page. Those who already have Chrome Canary installed can go to. To update Settings> About Chrome.

Note, however, that Chrome Canary is the most experimental of the Chrome versions available. It’s Google’s testing ground for unfinished features, so it’s prone to bugs, crashes, and other issues. Fortunately, Chrome Canary installs as a separate browser from the stable and beta builds of Chrome, so you can easily switch to a more secure version if you have problems.

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As with many unfinished Chrome features, enabling saving tab groups requires changing the browser’s experimental flags. If you are not careful it can cause problems. Just make sure you only change the flag associated with the function and you’ll be fine. However, switching the experimental flag is not necessary as soon as the function is rolled out to the stable version.

Image for article titled How to Test Chrome's Tab Group Save Feature Early

Screenshot: Brendan Hesse

  1. Open Chrome Canary and go to chrome: // flags.
  2. Use the search bar to find “Save tab groups.”
  3. Click the drop-down menu under the “Save tab groups” Option and put it on “Allows.”
  4. click “Restart” when prompted to save your changes and restart the browser.

You can now save and retrieve groups of tabs in Chrome Canary. This is how it works:

Image for article titled How to Test Chrome's Tab Group Save Feature Early

Screenshot: Brendan Hesse (Shutterstock)

  1. Open a new tab in Chrome Canary, then Right click it in the tab menu and select “Add tab to new group.”
  2. Set the tab name and color (if you want). You can also add more tabs to the group.
  3. To save the tab group, right-click the colored circle of the tab group.
  4. Switch “Save group.” The tabs will now appear in your history if you want to come back to them later.

To restore a tab group:

  • At the top right of the browser, click the three-dot menu icon and go to History> Last Closed> Tabs> (tab group name).
  • You can also immediately return to a closed group of tabs by pressing Ctrl + Shift + T.

[TechRadar]

Chrissy Teigen cuts a gap in her wall to search out the household hamster

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Nobody is left behind in the Teigen-Legend household.

Chrissy Teigen went to great lengths to save her family’s hamster, peanut butterafter she fled her habitat and got stuck in a wall. Chrissy went so far as to carve a hole in the Legends’ million dollar mansion in Los Angeles and eventually free the beloved rodent.

“Our hamster has been missing for 3 days,” she captioned an Instagram story from August 22nd. “I heard a faint scratch on the wall.”

She shared video footage of herself – in a luscious floral bathrobe with white, fluffy trimmings – investigating behind a curtain with a flashlight, with some help from her friends. “Maybe we are crazy ????” She subtitled another clip, adding, “NOT CRAZY” after hearing evidence that peanut butter was in the wall.

“Hear!!!” Chrissy wrote while trying to find the hidden hamster.

The cookbook author was seen on a stepladder drilling holes in the wall and later holding a hammer to get to the bottom of things. She cut a piece out of the wall and said, “I HAVE BOTTLED A HOLE AND I BELIEVE” when they saw peanut butter’s nose sticking in and out of the wooden hole.

US advises Taliban on “each side” of the evacuation of Kabul

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A member of the Taliban troops guards a checkpoint in Kabul, Afghanistan, August 17, 2021.

Stringer | Reuters

WASHINGTON – The United States is in close coordination with the Taliban as it works to evacuate tens of thousands of people from Kabul airport before President Joe Biden set the deadline for US troops to withdraw on Aug. 31, said National Security Advisor Jake Sullivan on Monday.

“We work with the Taliban and consult with the Taliban on every aspect of what is happening in Kabul,” Sullivan told reporters at the White House. “About what is happening at the airport, how we need to ensure that American citizens, SIVs and third country nationals have easy access to the airport. And we will continue these talks with them.”

Sullivan said the coordination would be done “through political and security channels” on a daily basis, but refused to elaborate on it.

Tens of thousands of Americans, NATO coalition members and Afghans who have helped NATO are desperately trying to leave the country via the only airport not controlled by the Taliban.

Sullivan defended the Biden administration from critics who say the chaotic and often tragic scenes that played out in and around Kabul airport over the past week could have been avoided through better planning and execution.

Sullivan said an element of chaos is inevitable with any US withdrawal.

“Whether Kabul fell in August or September or December or next August, the fact is that there would be American citizens in Kabul who had to be evacuated,” he said.

Nonetheless, “we believe that we have until July 31st to get any American who wants to get out of Afghanistan.”

CNBC policy

Read more about CNBC’s political coverage:

Sullivan stated that it was impossible to know exactly how many Americans stayed in Afghanistan because some citizens never informed the State Department of their arrival in the country, while others informed the government of their arrival but not their departure.

State Department spokesman Ned Price later told reporters, “We believe there are currently several thousand Americans in Afghanistan who would like to leave.”

It remained unclear on Monday how the United States was planning to pull away those exact thousands of citizens believed to be outside of the capital, Kabul.

Last week, the Pentagon said the US military could not even guarantee Americans within Kabul safe passage to Hamid Karzai International Airport, even though several thousand US soldiers were stationed there.

On Saturday, the US embassy in Kabul warned American citizens not to travel to the airport, which soldiers and diplomats call “H-KAIA”, because of security threats at the gates.

August 31, deadline in case of doubt

“The president believes we are making significant progress,” said Sullivan.

He added, however, that Biden “is busy this day in and day out and will make his decisions over time” on whether to extend the August 31 deadline.

On Sunday the president said: “Our hope is that we don’t have to extend. But I suspect there will be discussions about how far we are in the process.”

Meanwhile, the Taliban have made it clear that they consider any attempt to keep Western troops in Afghanistan, even if only at the airport, beyond August 31, as a foreign occupation of their newly conquered country.

“It’s a red line,” said Taliban spokesman Dr. Suhail Shaheen told UK Sky News on Monday. “President Biden has announced that they will withdraw all of their forces on August 31st.

Shaheen added, “If the US or UK were to seek additional time to evacuate, the answer would be no.

The pace of evacuation is increasing

US-led international efforts to get the people out of Afghanistan have picked up pace in the past 24 hours.

Sullivan said the US had flown about 10,400 people on cargo planes from Kabul in the past 24 hours. Non-US coalition planes evacuated an additional 5,900 people.

National Security Advisor Jake Sullivan speaks during the daily press conference at the White House in Washington, DC on August 23, 2021.

Jim Watson | AFP | Getty Images

Since August 14, the United States has evacuated or facilitated the evacuation of around 37,000 people from Afghanistan, according to the Pentagon. If it is extended until the end of July, this number increases to around 42,000 people.

The Pentagon said evacuees from Kabul are flying to temporary safe havens in the Middle East and Europe, including U.S. installations in Qatar, the United Arab Emirates, Kuwait, Bahrain, Italy, Spain and Germany.

Afghan nationals arriving in the United States will be transferred to Ft. McCoy in Wisconsin, Ft. Lee, Virginia, Joint Base McGuire Dix Lakehurst, New Jersey, and Ft. Luck in texas.

To expedite the transit of evacuees to countries outside the Middle East, Biden on Sunday activated the Civil Reserve Air Fleet, a seldom-used program that instructs civil airlines to deploy aircraft to assist the military in times of catastrophic emergency. The CRAF activation applied to 18 aircraft from six airlines.

– CNBC’s Amanda Macias contributed to this report.

This is a development story, please check back for updates.

Ought to your 401Okay contributions be a flat fee or a share?

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Image for article titled Should Your 401K Posts Be a Flat Rate or a Percentage?

Photo: Tada Images (Shutterstock)

When starting a new job with an employer who sponsors 401 (k) plans, you usually have the option to contribute a portion of your monthly income either in the form of a lump sum or a fixed percentage. But which is the better option? View the difference in your long-term savings balance for both lump-sum and percentage contributions.

In any case, benefit from employee matching

Whether you choose a lump sum or a percentage contribution, try to maximize each one Employer matching on your contributions to 401 (k), 403 (b), or 457 (b) plans. Not every company does this, but some offer a dollar-for-dollar match up to a certain amount (e.g., $ 5,000 per year) while others offer a percentage, such as a percentage or amount.

In any case, employer matching is the best way to save for retirement in the long term. For you, your employer (possibly) doubles your pension contributions for a growing investment exponentially over time, thanks to compound interest. It’s a tax write-off to the company, so you both win the deal.

For this reason, financial advisors recommend that you contribute at least enough to take advantage of all of your employer’s matching. Otherwise they recommend a contribution 15-20% of your total gross income (in an ideal world, of course).

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This is how flat dollar contributions work

A flat fee works well when you have a tight budget with very little room for surprises. You know exactly how much you are paying each month (or even years) and can plan accordingly. You can also ensure your contributions are fully met by dividing the annual contribution limit of $ 19,500 by the number of paychecks you receive.

The disadvantage? Well, your income could easily change if you get a raise or if you take on a new role. Likewise, the maximum contribution limit is not fixed, and the IRS could easily increase the limit in any given year. Overall, the danger here is a “set it and forget it” mentality where you forget to update your posts to reflect a raise. The temptation would then be to decrease your willingness to contribute once you start making more money.

This is how percentage contributions work

In general, a percentage long-term saving option is better because you never have to worry about losing ground on your contributions. There’s a little bit of psychology involved here too – if you automatically contribute, say, 10% no matter what, you won’t be tempted to cut it back every time you get a raise, which often happens every year or so, for some employees. And for all income increases, if you keep that fixed percentage constant, you are more likely to beat the flat dollar contributions to your 401 (k).

“Pantless” Blake Energetic begins the birthday week with a celebratory photograph

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It is Blake Lively‘s party and she will go without pants if she wants.

Although the actress won’t turn 34 until August 25, she got the birthday parties off to an early and in style this weekend.

First, Lively took to Instagram on Aug. 22 to model a cherry-covered green Teuta Matoshi gown she wore for “birthday weekend”. The Gossip Girl alum complemented the look with red shoes from Christian Louboutin and jewels from Lorraine Schwartz.

The next day, Lively gave her 29.7 million followers a look at the “early birthday present” she received from Louis Vuitton and found that she was “in love” with her new bag.

“But my ‘in love’ face didn’t look so bored,” she captioned the picture. “So you get this.”

The Age of Adaline star paired the purse with a cropped T-shirt and a blanket wrapped around her waist.

“Also, call my pants-free friends who walk around their house until they grab a blanket and do the ‘towel treatment’,” she continued, “and act like it is considered clothing.”

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