2025 New Tax Rates
What Was the First Cryptocurrency?
Bitcoin is commonly thought to be the first cryptocurrency, but there were several attempts create digital currency before Bitcoin. The first cryptocurrency was eCash, developed by the company DigiCash in 1990. The concept and company were created by cryptographer David Chaum, who in 1983 published a paper titled "Blind Signatures for Untraceable Payments." Several other attempts ultimately led up to Bitcoin's creation, but it took more than 20 years for cryptocurrency to evolve to its current state.
How Advisors Can Protect Older Clients from Financial Scams
When it comes to scams preying on the elderly, Chris Wilbratte, founder and partner with Echelon Financial in Austin, Texas, is all too familiar.
His assistant's 84-year-old mother was once caught in a sophisticated swindle where the criminals posed as representatives of Publishers Clearing House; their emails even had all the logos from the FDIC, IRS and Federal Reserve Bank.
"It involved multiple calls with the various 'departments' at Publishers Clearing House where they built up their credibility, framed their requests for secrecy and access to investment accounts as part of the normal course of business," Wilbratte said.
What made the con all the more believable was that his assistant's mother had actually won money years before from Publishers Clearing House.
"This seemed even more natural, right?" said Wilbratte. "She won once. Why not? Why couldn't you win twice?"
How to Freeze Your Credit
You have the right to add a security freeze, more commonly called a credit freeze, to all of your credit reports for free. Doing so can limit access to your credit reports, which may help protect you from some types of credit fraud. There are several ways to freeze your credit at each of the three credit bureaus, but freezing your credit online might be the easiest option.
Ten Types of Cognitive Biases That May Hurt Your Portfolio
Cognitive biases can have a negative impact on an investor’s ability to make rational decisions, potentially derailing their investment goals. These mental shortcuts and distortions that we make affect how you perceive information and thus make decisions, often leading, unfortunately, to poor investment choices. Cognitive biases in investing can lead to overconfidence, misjudgments, and a reliance on emotion rather than logic. But if you can recognize and address these biases before they impact your investment portfolios, you can avoid common pitfalls and make better choices that enhance portfolio performance over time.