02/28/2022: Weekly Briefing
The quest for rollovers continues. I called my current 401k institution to confirm what is the best way to do rollovers. I had assumed that it was best to have my old insitution send money direct to them rather than the check coming to me, but apparently I was wrong. They told me that it’s actually simpler for me to send to myself and then send to them. So it’s fun to have that extra step there.
1) Rollover A: I requested rollover 1 day ago…now playing the waiting game.
2) Rollover B: This account has a stale residential address, and they only send checks to you (not direct to the new rollover institution), so I really want the address to be right. But you can’t update the address on their website…you have to call. Now, I sat down to this on a Saturday morning because like most people I work during the week, and of course their customer service is not open on Saturdays. To be continued next week….
3) Rollover C: I requested rollover 7+ days ago and checked in on the status…it just says ‘pending’… So to be continued next week…
While my patience is fraught, I am taking deep breathes and expressing gratitude at having 401k accounts. And am also very grateful for a password manager. (Highly recommend because you will spend more time than you ever though possible entering passwords and verification codes.)
Money & Crypto
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E-commerce giant Rakuten to start NFT marketplace (The Block Crypto)
India requires crypto advertisements to include disclaimer (Spain did something similar a few months ago) (CoinDesk)
BitConnect founder indicted for $2.4B Ponzi scheme (The Block Crypto). As I always say, the crypto industry is booming so quickly, that there’s going to be bad actors who take advantage of the situation. The lack of regulation puts more onus on the person investing to do its due diligence.
EU using SWIFT to cut off Russian banks from international finance system (CoinDesk)
Ukraine government put out an appeal for crypto donations and has received $10M so far (The Block Crypto)
Round up of recent FinTech funding news (TechCrunch)
India’s state-owned insurer LIC to IPO 5% of company for $8B and expected to be largest IPO in the country ever (FT)
2 out of 3 Fiverr freelancers have made money servicing NFTs . That’s a wild stat. (Wired)
Etc.
A map of Ukraine and its history relative with USSR
Paul Farmer, global health advocate and leader, passed away
📖 If you haven’t read Mountains Beyond Mountains by Tracy Kidder, who wrote about Paul Farmer, I highly highly recommend
Podcast Pick of the Week
🎧Council on Foreign Relations recaps the Russian invasion of Ukraine and what could happen next
Disclaimer: All opinions are my own. The content on this site and on the podcast does not constitute financial, legal, accounting, tax, or investment advice.
