Until recently, there has been little effort on trying to create retirement income plans except for the formulation and acceptance of the 4% rule. Pfau has built a short career in the retirement field, but he is one of the best in the economics of retirement planning. In his book, he explores through models for retirement planning and approaches driven by expectations. The volume is for readers good with statistical analysis and have the financial expertise to implement high-level recommendations. The author in a methodical approach and lengthy analysis of historical data and projections defines every method that he has suggested for retirement income planning. He lays out the processes and assumptions that he has merged in his simulations using Monte Carlos simulations which have become a fundamental ingredient in financial planning. Pfau suggests spending and investment tactics with possible outcomes based on predictions of the future economy.it also states the relationship between spending and returns with ways to modify to compensate changes which occur in conjunction with pensioner’s personal goals and risk tolerance. The book focuses on critical investment advice, highlighting the benefits of delaying Social Security payouts and explaining ways to come up with bond portfolio. Wade groups his approaches as either probability based which require analysis using simulation software or safety first depending on its risk of failure. He generates a sampling table (pg. 32) of retirement income strategies that classify them into two approaches. Using graphs, he illustrates and makes it clear to those planning to be involved in managing their retirement funds should be patient to study to study the possibilities to invest wisely. With analysis of William Bengen’s 4% rule which state that safe spending rate from accumulated wealth is 4% for the amount at the beginning of retirement and the same inflation-adjusted dollar amount annually for the next 30 years at most leaving no money at the end of that time. He finds the process as justifiable due to its high chances of success but that not all as other factors can come in. In chapter 3 which familiarizes us with the sequence-of-returns risk whereby one could fail due to considerations in costs of investments based on the analysis of the returns to wide-ranging indices of asset class returns. Finally, he sums up with the description of how to approach retirement planning. He describes an outline approach used by McLean Asset Management; his advisory firm which he is the director of retirement research in developing plans for his clients. His approach is reasonable and detailed and assumes that clients have an assured degree of investment sophistication thus allowing them to make informed choices but that not the case as many clients may be highly educated but lack sophistication. The final chapter lacks the summary of all that had come before and did not recommend the approach one should use among the analyzed. The volume is a comprehensive and well-written guide to retirement preparation for those with financial knowledge.
The author starts by claiming that the world has become a lonely place and no one feels indeed connected with someone. The world over the last century has increasingly become detached from our societies and that a large number of Americans have never interacted with their neighbors. In social media, big businesses have introduced new tools to make it a mass marketing platform to mass audiences. Marketers have come up with automation tools like HubSpot and Buffer to pump out streams of generic memes and article reviews. Social pages such as Facebook and Twitter are now filled with ads and company promotional posts. Tools such as Instagress, Salcedo, and Archie have been used to set out automation to make company likes, comments and follows. This has taken out the ‘social’ out of social media. The power of Intimate attention. The secret is connecting with one person at a time. While prominent organizations are sending emails to thousands of subscribers based on their list, you will send one email to one person. As ‘goliaths’ are sending filling their social media pages with memes, you just answer a question for one person in an online group. While Goliaths are using social channels, i.e., Bullhorn you will start a real conversation with a person. Kevin states that it helps in beating the competition from big companies. He clarifies in simple terms and handy techniques on ways to create a loyal fan base who will respond to call for action and ways to deal with trolls, beggars, and complainers. Kevin pointed out businesses and individuals who don’t give their responses even though having given them a lot of money for products and services and when he asked for contribution to his book he got no response Kruse emphasizes the value of personal attention, intimate attention (as he called it) in a modern world of fake or shallow connections. He claims that it is better to have a small and an engaged list than huge list emails and followers. Stories from high profile folks such as millionaires, rock stars, and celebrities have confirmed that it becomes a nuisance when they attempt to develop personal connections with their followers. Kevin states that the real key to intimate attention is the consistency such as replying to each mail and messages on social media. The book also has a portion where there are records of highly successful people’s mini-interviews as it provides more understanding and perspectives on how Intimate Attention can be cultivated on difficult platforms which are suitable for their businesses and it increases revenue. The content of the book is useful and functional to readers. Through practical illustrations especially in “text me” part, it becomes an effective method of leaving a mark in a reader’s memory. He shares his experiences which becomes an essential aspect in couching readers. The book is a useful guide for small business owners, freelancers, bloggers and leaders who want to grow their active audience.
According to the author, crowdfunding for social good is about aiding someone to invest yourself as a social entrepreneur. It’s useful in fundraising, and it’s determined by your ability to access money from your network. It has proven to be successful in raising a startup without debt or equity crowdfunding. The book states that there are four models useful today for crowdfunding;
- Donations – offered only that you will carry out the stated purpose, i.e., feeding orphans.
- Rewards – there are many ways in which one are offered rewards. I.e., Bands promise CDs to fans to get funded.
- Debt – this is when money is raised with the exchange of repaying it back with interest.
- Equity – though it’s still not regulated one is allowed to raise funds.
The book is meant to help companies to cope up with the change that is happening all over the globe. It’s called Future-proof because it gives the reader a framework, a methodology, and tools which will transform any organization into the sort of the company where change often turns into opportunities and success. It focuses on companies which are highly adaptive such as Nike, Ford, Microsoft, Apple, and Amazon. The book states that if you are a business owner today, the business will either radically change in the next ten years by fading or dying. Young companies have focused their attention on a possible approach to technology incorporation and market leadership that combines the best of the old and the new. It studies how choices are made and achieved to make the right decisions while other companies fail to do so. It also figures out ways to evolve with the changing times. The results show that the companies focused on seven fundamental pillars that when they are combined they created a right mix of mindset, skills, and abilities that are adaptive, fast in innovation and turns change into a strategic advantage. These seven pillars of the area of focus are; experiences, people, change, leadership, culture, technology, and innovation. Every company studied showed that it invested and prioritized in its ability to make itself future proof
Experiences.Good business has continuously been about creating a consistently fantastic experience. The success of a company is determined mostly by one’s emotions this is because decisions made whether logical, facts and real-world are never immune from feelings since preferences and personal bias towards a particular brand or a good influence the purchase. Some companies can impress their customers consistently and includes Apple, Disney, and Tesla.
People.By 2020, millennials will comprise about half of the global workforce; this helps in understanding the changes in transforming workplace and collaboration tools. Millennials rely on efficient workflow which is largely different from those of our predecessors that has vastly led depression of millennials due to limitations of productivity and collaboration tools by past eras. This has led to developing apps, mobile devices, and social media. Tools such as emails which are full of inefficiencies are being replaced by fast messaging apps, desktops by laptops which has reshaped workplaces to fit their collaborative styles.
Change.Most successful companies put change at the heart of their business model. This is because customer behaviors progress faster than companies, therefore, it is essential to respond quickly to make the difference between winning and regular brands.
Innovation.Unlocking innovation potential and become game changers in their own right.
Technology.As stated in the book; deep awareness of data is vital in planning and implementation of strategies. Collection of useful information and requires knowledge to convert data obtained and prioritize developments.
CultureCulture is the most important as it’s the building blocks of a future-proof business. The business should be set according to their beliefs and ways of life to be accepted.
Pia Silva’s latest book narrates how the author and her husband Steve changed fortunes of her graphic design company Worst Fall Design from being in credit card debt of $40,000 to making $500k within 12 months. They achieved this through making their brand unique and standing against the particular aspects of their industry that were damaging. They gave their ideas to clients who were struggling and helped them gain success on their terms. Pia first had to let go two employees that were increasing their debt monthly trying to pay them. This made her feel crushed as she anticipated her plan to work on creating a traditional agency that grows according to expectations. Money saved from letting the staffs leave reduced the pressure they had and prevented them from going deeper into debt. By stepping back from traditional agency model, the company formed a smaller product that they enjoyed and became a favorite among their networking clients whose picks had become high-priced. The product was called Brand Up Whereby Pia and her husband were able to sit down with the firm and do all in a day. After a brief discussion with the clients, they would come up with graphic design elements, business cards, and websites. By the time Pia revamped her business she had stalled deals like most agency owners. She reached out to her clients and offered them the Brand Up process; a focused and unique service for a fraction of the price. She managed to close four out of five deals. Chapter four lays out a formula including four angles in which an entrepreneur can achieve his plans. This includes;
- Determining your target market who are most paying and profitable
- Developing your brand personality to stand out from the crowd to grow competition
- Offering your lead product which you can sell at flat and affordable rates and should be visibly defined
- A superior version of lead product that you want to upsell
Most creative people have tons of ideas. Regardless of what you or others may think, most of your ideas could probably be profitable. Lately I’ve been looking at new ideas in a different way. I’ve been sorting them by time – in two ways. First, time to market. How long is this idea going to take to get users, and eventually sales? I am getting bored of doing software companies that are 6-18 months in development before I start seeing money and that is on the quick side of things in the startup world. I am starting to turn to my ideas that show signs of potential revenue within 30 or 60 days. Second, is the idea reliant on time? Is there an advantage to launching the idea now vs waiting 6 months? If it can wait 6 months, you should always wait and look at something that needs to be done now. There’s very little benefit in rushing to market if the idea isn’t time sensitive.
When I get a new idea, I like to sit on the idea for a few weeks, sometimes months or even a year. You can only do this if the idea isn’t time sensitive – something evergreen. What happens with most people is they get a new idea and execute based on spur-of-the-moment emotion, then few weeks later, they’re either burned out due to overworking on something they had no interest in, or it wasn’t as good of an idea as they initially thought. Usually bad ideas can still be executed into profitable businesses, but if you truly can’t stay interest after the honeymoon phase has passed, you’ll have a tough time bringing your venture to profit.
This is an informal response and my initial raw thoughts on The Follower Factory. Excuse any typos. Saturday, The New York Times published The Follower Factory, which explains the age-old story of celebrities purchasing fake followers. The article exposes Devumi, a company that manages 3.5 million fake social media accounts so they can offer social-boosting services to high profile people. I was first surprised when I heard the company was based in America, as it’s quite common for companies based in India and other countries to take advantage of the offshore benefit by offering social media services and software. FollowLiker is one off-shore software that can be blamed for millions of spam likes, comments, follows and DMs sent to Instagram and Twitter users every month. If any social network knew who was responsible for it’s creation, a lawsuit would commence as they regularly have in the past against its competitors. The NYT concluded the company has likely provided over 200 million followers, which I don’t think is that many in the big scheme of things. FollowLiker generates more than that on a monthly basis. Kim Kardashian has 106 million followers, which I’d bet more than 50 million of those are fake. Some may argue she runs engagement rate that averages a solid 2%. While 2% is an impressive engagement rate at that level of fame, the likes, to a degree would also be purchased. There’s too much money at stake for her to not keep that rate above 1%. The problem with a lot of Devumi’s competitors, is the purchased followers look fake. The names look fake – the biographies, the profile picture, the location – it usually just doesn’t make sense and the profiles can be spotted easily. They are one of the most unique services on the market, since they’re able to offer American names, with realistic profile photos and the whole bit. What writers Nicholas Confessore, Gabriel J.X. Dance, Richard Harris and Mark Hansen don’t understand is that these services aren’t just used to benefit others, but also to harm others. Allow me to explain. Being someone of moderate success at a young age (for those who don’t know me), I’ve gathered a few people who are jealous of that and look for ways to harm that or disrupt my wellbeing. Yesterday I woke up to the notification of hundreds of followers being added to my Instagram account every few minutes. For one thing, that’s sure to annoy me for the duration of the campaign, but also put a real cap on my future engagement rate and not to mention the embarrassment of someone calling me out for buying followers when I really didn’t. I can block the followers. I can report them, too. However, I don’t have the time to do it for thousands of accounts that can be added at the click of a button. I can turn my profile to private, but that just leads to thousands of follow requests that I don’t have time to individually deny. Instagram does not have the methods in place to handle such an incident, and frankly, they don’t care. The NYT also drew some far-fetched conclusions on the customers of Devumi. They say there were court records on this but I didn’t see any links to sources, so I’m going to conclude that because NYT discovered that Devumi has accounts that follow celebrities, they believe those celebrities purchased followers from Devumi. First, understand that companies like Twitter, Facebook and Instagram understand exactly how normal users act when signing up for a social network for the first time. There are specific actions and mistakes that a real person makes when signing up. They click in certain places. They pause on certain pages for certain amounts of time. As soon as someone doesn’t correlate with the data of real users, an account is locked, the IP address is flagged and it causes a lot of issues for companies trying to create fake accounts at scale. It gets complicated quickly. There’s a page in the Twitter signup process where Twitter asks you if you’d like to follow any famous accounts and it suggests about 20. I dare you to click the little “skip” button and see if your account gets locked. I’m sure it will. So, to properly scale out a mass account registration campaign, you’d need to follow celebrities. Either when you’re prompted at registration, or later on, you mix in your followings with celebrities so it seems natural. Most people follow celebrities, so fake accounts should too. Another reason why fake accounts would follow celebrities is so that Devumi’s clients cannot get discovered. What if their arsenal of accounts only followed people who paid for it? Well Twitter could wipe all of Devumi’s clients by looking at the followings of 1 fake account, which is what happened to one of my Twitter accounts upon testing this. So just because an arsenal of fake accounts follows a celebrity, it doesn’t mean that celebrity volunteered to be involved. A company like Devumi would just be using that celebrity, to fool the social networks – and apparently The New York Times reporters too. I’d expect Michael Dell’s name to be removed before he realizes what they’re accusing him of. What’s amazing is that if they actually control 3.5 million accounts, they’d need 3.5 million unique, low-risk, residential IP addresses to manage those and the only company on Earth known to provide that is of course, Luminati, but that’s a story for another day. Questions? Comments? Hit up myself or any of the writers on Twitter. Kudos to the writers, it was a fun read. Good work.
I’d prefer if you buy my book but I’m happy people are interested and can’t hold it against people who are trying to further themselves in life. If you’d like to buy my book, it’s available at most book stores for an incredibly discounted rate in both print and digital.
1. GOG.All around good-guy, Greg OG is a Toronto native. Take a look at his video:
The Real Bruce Wayne Revealed: The Power of Intermittent Fasting (4k)
Watch this video on YouTube.The script:
My Name is Gregory O’Gallagher and I’m 24 years old. I believe in taking care of myself, in maintaining a lean and chiseled body, and striving each day for self improvement. Even though I have just woken up, I won’t eat for 8 hours, this increases fat mobilization, boosts mental alertness and has profound health benefits. To blunt my hunger, I’ll drink sparkling water… 2-3 hours later, I’ll enjoy black coffee, a very powerful appetite suppressant. Intermittent Fasting has been the most powerful health discovery I have ever made, it has made staying lean and building muscle, effortless.. It’s boosted my work productivity and it’s given me the freedom to eat like a king everyday. I simply feel fantastic. If it happens to be a workout day, I’ll hit the gym hard. I only life three times per week. This maximizes muscular and neuro-recovery and provides the fastest rate of strength gain. I believe in honing your training down to the essential movements that create the perfect physique and then becoming really strong at them. For my key movements, I always perform the heaviest set first, followed by two progressively lighter sets with full rest periods. This style of training allows to come into the gym, stronger each and every session. Since I was 6 years old, I wanted to crack the code to build an amazing body that was strong, powerful and awe-inspiring. I’m 24 and I can honestly say without a shred of doubt, that I’ve cracked that code and since sharing it, it has unlocked the potential in thousands of people that are taking it daily. My name is Gregory O’Gallagher. It’s time for you to unleash your potential.