Buying your first car is an exciting milestone that promises a great deal of added freedom, but before you can enjoy yourself, you need to know how to handle the car-buying process as a first timer. Below are three of the most important questions you must ask yourself to ease your first car purchase.
1. What’s My Budget?
When it comes to buying your first car, budgeting is one of the most important factors. In all likelihood, this is one of your first major purchases, so you need to be smart and strategic about it.
Be realistic when setting your budget for the car itself. Think about your income as well as your current expenses (e.g. rent, phone bill, tuition costs). Then, consider how much money you’ll have left over each month and how soon you need a car. Figure out how much you can save up within that designated period of time and go from there.
When crafting your budget, you’ll also need to consider other expenses on top of the vehicle itself. For instance, think about car insurance and how much it will cost you on a monthly basis. To get a better idea of these expenses, try to get some online car insurance quotes from a few different providers. With this knowledge, you’ll be better able to take control of your money and make it work for you.
2. Is There a Brand or Make That Suits My Lifestyle the Best?
Consider what purpose you want this vehicle to serve in your life. Do you want something that is compact and easy to drive, especially around the city, or do you want a car that’s more spacious for long-distance road trips?
Based on the answers to these questions, you should be able to find the right car for your lifestyle. If you prefer a smaller car that’s easier to handle, you might like a Nissan Versa, a Toyota Yaris, or a similar model of car. On the other hand, if you want something roomier with lots of room for your friends, an SUV such as a Ford Explorer or a Hyundai Santa Fe might align with your needs a little better.
3. Will I Drive Manual or Automatic?
This is another important consideration you need to keep in mind when buying your first car: manual vs. automatic. If you only know how to drive automatic, then the answer to this question will likely be a bit easier for you. However, if you drive manual, you have more choices.
Many people find manual cars trickier to drive in stop-and-go traffic. If you plan to do a lot of city driving, you may be better off with an automatic. However, some drivers prefer the amount of control you have when driving a manual. If this sounds like you, a manual car could be a great fit.
If you’re in the process of buying your first car, self-reflection is an important ingredient in making the right selection. By asking yourself these questions, you’ll ensure that you pick the best car for you.
Whether you are in between moves or simply have excess items around the house or office, it’s evident you need more space. A storage unit will provide you with a secure place to keep your valuable items.
These days, there are a lot of storage units you can rent which can make your life more organized. However, with so many options, how do you find the right storage facility? Here are six factors you need to consider when choosing a storage facility.
Before choosing a self-storage facility, you want to know how safe and secure its storage units are. A secure self-storage facility like iStorage should have the following features:
Security guards to minimize the chances of crimes happening in the storage facility
Fire safety: Check for fire extinguishers, detectors, fire alarms, sprinklers, and detectors
Storage unit features: The storage unit should be clean and air-conditioned. There should be pet control measures in place, and the floor level should be high enough to avoid water flow
If you need frequent access to your valuables, it is advisable to choose a storage facility in your area for convenience. However, the location will matter less if you will rarely need to access your items. In addition, keep in mind that you are more likely to get inexpensive storage facilities outside of urban centers.
3. Fees and costs
There are a number of factors that will ultimately determine the cost, including contract type, minimum storage period, and additional fees. Explore different contract types to see what is convenient for you. Check if the facility has a minimum storage period and what happens if you want to access your items before that period lapses. You also need to consider additional fees, along with what happens when you make a late payment or miss a payment? You don’t want to incur extra expenses or lose your storage unit.
You don’t need to pay for space that you don’t need. A great self-storage provides a variety of sizes. Before choosing a storage facility, make a list of items that you want to store and how much they would take. Depending on the item you want to store, you may want to make sure they can fit in a storage unit both in terms of the height and width.
5. Accessibility and convenience
It is important that you access your items any time you need them, but that may be a problem if the storage facility is not open. Some storage facilities are closed after the regular nine to five working hours and during weekends, while others are open 24/7. For convenience, it is advisable to choose a storage facility that is open round the clock.
6. Check your home insurance policy
Review the terms of your home insurance policy to see whether the valuables will be covered if you move them outside your home. Most home insurance policies do not cover items outside the home, so it is advisable to look for a storage facility that offers insurance as part of their rental package.
Whether you are moving or you have a ton of excess things on your hands, a storage unit can come in handy, and these tips will help you find the right storage facility for your storage needs.
Online shopping is the one thing in our life that is never going to stop. But, let’s be real, it is not surprising that we often end up spending a lot more than we have and that too in one round. If the same is happening with you, we’d suggest that you find some wholesale online shopping websites like DHGate that host a range of amazing items for half the price but double the quality.
All that aside, here’s a quick list of tips that you can use to save money the next time you think of shopping online.
Make a list
We can’t stress this enough but making a simple list of the items that you want to buy. This might not seem like a lot, but it can help you save a lot of coins. Firstly, you will know what you want and what you don’t. So, the moment you navigate through the website, you won’t get side-tracked by other items that you probably don’t need in your life. Instead of aimlessly scrolling around the website, you can go ahead and buy things.
Compare the prices
Another way to save money while shopping online is by comparing the prices. One of the best ways to do so is by comparing the prices on multiple websites. This can help you solve a lot of hassle and help you get a better idea of what’s right and what’s not. Try and choose the items across the major online portals because that helps you get a better idea of what kind of prices are trending.
Look out for sales
Another factor that you need to look out for is the sales that happen on online shopping websites. There are several platforms that you need to look out for. That said, the sales are often seasonal, so you need to keep an eye out for that too. Make sure that you even set up alerts or notifications for the website to get notifications about the deals that are happening around.
Join online shopping communities
Much like how there are several groups for foodies on this planet, there are also a few online shopping communities that you can join to get an idea of what kind of offers that you can avail and what kind of coupons that you can use. In these communities, you can also get a better perspective of things, which comes in handy as well.
Several people have a bad habit of just buying anything even when they don’t need it. If you are one of them, you need to avoid giving in to that habit altogether. Make sure that you keep a check on the items that you need only. Just because there is a sale going on doesn’t mean you need to buy something.
If you are here trying to save some extra coins during your online shopping, you must keep a check on these tips before making the purchase. Remember that you don’t need to buy something if you don’t need it.
Notably, South Africa is home to over twice as many millionaires (HNWIs) as any other African country. The country ranks 30th in the world by this measure, ahead of major economies such as Greece, Portugal and Turkey. Currently, there are just over 35,000 HNWIs living in SA (as at Sept 2020).
Things that attract HNWIs to SA include:
Lifestyle aspects: weather, beaches and scenery.
A large free media which helps disseminate reliable information to investors. This sets South Africa apart from most other emerging markets worldwide.
One of the 20 biggest stock exchanges in the world (by market cap).
A well-developed banking system and large fund management sector.
Hub for doing business in the rest of Africa.
Luxury food stores such as Woolworths, which appeal to wealthy consumers.
Exclusive areas such as Umhlanga Rocks and the Atlantic Seaboard in Cape Town.
Top-end estates and apartments. SA is a global pioneer in estate living and is home to many of the world’s best lifestyle estates. New World Wealth estimates that over 45% of SA HNWIs either live or have homes on estates. An additional 30% have homes in luxury apartment blocks (which have been the fastest growing residential segment in SA over the past 20 years in terms of price growth).
Good transport infrastructure.
World-class shopping centres such as: Gateway, Sandton City and the V&A Waterfront.
SA wealth stats (for Sept 2020)
There are approximately 680,000 mass affluent individuals living in SA, each with net assets of US$100,000 or more.
There are approximately 35,000 millionaires (HNWIs) living in SA, each with net assets of US$1 million or more. Most of these HNWIs are based in Johannesburg (Sandton especially), Cape Town, Umhlanga and Pretoria.
There are approximately 1,800 multi-millionaires living in SA, each with net assets of US$10 million or more.
There are 86 centi-millionaires living in SA, each with net assets of US$100 million or more.
There are 5 billionaires living in SA, each with net assets of US$1 billion or more.
Note: “Wealth” refers to the net assets of a person. It includes all their assets (property, cash, equities, business interests) less any liabilities.
About Steyn City
Steyn City is a luxury residential parkland residence situated north of Fourways in Johannesburg. The lifestyle resort features over 2,000 acres of indigenous parkland, ensuring that every resident has a sprawling back garden to explore.
Steyn City residents have access to a wide array of amenities and world-class facilities, which include kilometers of running and cycling track, outdoor yoga centres, a fully equipped gym, resort pools, aquatic centre, several restaurants, a world class equestrian centre and Jack Nicklaus championship golf course with award-winning clubhouse. Added to this, the development offers a forward-thinking educational campus and outstanding office premises.
All of this makes Steyn City an obvious choice for people relocating to South Africa. The development offers all that a family or even executive could possibly need, from excellent infrastructure to a highly esteemed school – all within a safe and secure setting.
At a time when many people are reconsidering their location, now that remote working means they are no longer bound to an address close to their workplace, Steyn City stands out as a destination that makes it possible for residents to enjoy vacation-style tranquility, just minutes from the city.
The 10-day virtual event will offer exhibitors a cost-effective platform to showcase their best projects, expand their business network and grow globally.
Dubai, (September 7, 2020) – The International Property Show, in partnership with Invest in Dubai (IID) Real Estate, is absolutely primed for a remarkable world-class virtual exhibition that will offer a wide array of lucrative opportunities and a one-of-a-kind immersive experience to exhibitors from across the globe.
From the 11th to 20th of November, the real estate industry’s largest virtual exhibition with more than 20K participants from over 40 participating countries, will gather leading real estate developers, top-tier investors, industry experts, and professionals, in a secure virtual platform to leverage business opportunities and attract major investors from local, regional and international real estate markets.
“The powerful collaboration between the International Property Show and Invest in Dubai is a massive opportunity for exhibitors to promote and boost their brand and be exposed to a vast network of investors from around the world. Exhibitors will not need to worry about visitors coming to their stand because the whole world can visit them through virtual technology. With the use of technology, we are shaping the way the real estate market functions and are making it easier to bring together the entire global real estate community,” stated Mr. Dawood Al Shezawi, the President of the organizing committee of the International Property Show.
A multitude of advantages await the exhibitors of the first virtual edition of the International Property Show. As a globally acclaimed property exhibition, the virtual platform offers exhibitors a maximum exposure to 20,000+ high-quality visitors locally and internationally, gaining a greater opportunity to generate leads and boost sales without the added travel and accommodation expenses. Every exhibitor will have their exclusive virtual slot where they can showcase their projects as well as their expertise and competitive edge in the market.
“Dubai has embarked on a successful journey to incorporate innovation digitalization across all sectors and to create solutions that positively influence the productivity of the real estate industry. In addition to this, international markets are also utilising innovation in order to be resilient and bounce back from the impacts of pandemic. Likewise, through this strong collaboration, technology will be instrumental for exhibitors to have the virtual gateway to access new opportunities such as the increased promotion and sales of their various projects, creation of long-lasting relations and formation of rewarding collaborations and partnerships, which can all be achieved in the comfort of their own homes,” asserted Mr. Al Shezawi.
Exhibitors are also given the special privilege of utilising the different virtual activities of IPS Aside from having their own Virtual Exhibition Space, exhibitors will be able to get free access to Webinars and will have the chance to be a part of the panel discussions, together with other industry experts and specialists, giving them more exposure and bigger opportunity to build their reputation and boost their organization.
Via the virtual venue hosted by Events10X, exhibitors can present their projects through advanced technology by taking part in Project Presentations. They also gain the chance to meet esteemed local and international Media Specialists, in the Meet and Greet feature, one of the interactive virtual activities of the event. Moreover, exhibitors will experience fast, seamless and secure transactions as they negotiate with serious buyers and close deals in a safe and secure virtual platform that fully protects their privacy.
In partnership with IID, this major event also serves as an ideal platform for local developers to showcase their most outstanding projects in Dubai and play a major role in promoting the city as a global investment destination, prompting more opportunities for growth within the Dubai real estate sector.
“It is a great honour to host the IPS alongside IID as exhibitors and visitors are offered a superior platform to connect with like-minded individuals. Through this event, we would like to satisfy the collective needs within this rapidly changing real estate industry and also boost investments in Dubai and in other parts of the world through technological advancement. Being a consistently successful event for many years now, we view the pandemic as a great opportunity to realise our true potential and create greater flexibility for every organisation in the industry,” added Mr. Al Shezawi.
Traveling for work is a complex issue
when it comes to your eligibility for workers’ compensation. The general rule
is that workers’ compensation doesn’t cover your commute to and from work.
Does Workers’ Comp Cover
Travel for Business?
Yes, workers’ comp covers travel for
business. When you’re traveling because of your work, you can claim workers’
compensation in the event of an injury. The workers’ compensation system
operates the same way whether you’re actively on the job or traveling for your
Personal errands during work travel are
not covered; however, the travel itself and incidental activities like the
hotel and meals still fall under the workers’ compensation system. Workers’
compensation covers travel for business except for strictly personal activities
during the trip.
Does Workers’ Comp Cover
Travel to and From Work?
Workers’ comp does not cover travel to
and from work. However, there may be situations when you are traveling related
to work that are actually covered. Travel to and from work is generally not
included. Still, if you are running errands for your employer or on a
work-related travel assignment, you may actually be classified as working.
It depends on whether you’re serving the
interests of your employer during the travel. Although the general rule is that
workers’ comp does not include travel to and from work, there may be situations
where your traveling counts as being on the job.
Workers’ Compensation and
The purpose of workers’ compensation is
to provide employees easy access to financial compensation when they’re hurt at
work. The general rule is that you can claim workers’ compensation for
work-related injuries. If you’re on the job and you get hurt, you can access
the workers’ compensation system to pay for your medical bills and provide
However, workers’ compensation doesn’t
cover the risks of daily life. For that reason, the employee’s personal commute
doesn’t fall under the workers’ compensation system. If you get hurt going to
or from work, you have to look to your own car insurance or personal insurance
to pay your expenses. You may also bring a third-party claim for financial
compensation, but the person or entity that caused your injury is responsible
for your damages, not your employer.
Traveling for Work
However, even if you’re traveling at the
time of your injury, you’re not necessarily out of the workers’ compensation
system. You may be traveling for work and not realize it. When you’re traveling
on company business, you’re still covered by workers’ compensation.
Even things that are incidental to the
travel itself, like staying at a hotel or eating meals while away from home,
can classify you as working for the purposes of workers’ compensation. It’s
essential to evaluate the entire circumstances present when the accident
Buma vs. Providence Corp.
Development – Nevada Supreme Court
In theBuma v.
Providence Corp. Development case, the Nevada Supreme Court
recently clarified the rules when it comes to what counts as work-related travel.Nevada Revised Statutes 616C.150(1) states
that a person must show their injury arises out of the course of employment.
The court said that a person might be in the course of their employment even if
they’re not directly on the route of travel at the time of the injury.
In the Buma v. Providence Corp. case, the
victim was the vice president of sales for his company. He worked from home and
made his own travel arrangements. The victim traveled out of state for a
conference. He stayed at a ranch with a friend and affiliate of the company.
Together, the two prepared joint presentations to give on behalf of the
company. The victim died while riding an ATV on the ranch.
The third-party workers’ comp insurer,
and the lower court, denied the victim’s family workers’ compensation benefits.
They said that the accident did not arise out of work duties. However, the
Nevada Supreme Court vacated the lower court’s decision.
When Does an Injury Arise out
of the Course of Employment for Workers’ Compensation Purposes?
The Nevada Supreme Court said that an
injury arises out of the scope of employment when there is a causal connection
between the victim’s injury and the nature of the employee’s duties. UnderNevada Revised Statutes 616B.612(3), all
travel that an employee gets paid for is part of the course of employment.
However, even if part of the travel isn’t
compensated hourly, it may still be work-related travel. Generally, workers’ compensation
covers business trips. It covers the actual business part of the trip, but it
also includes staying in hotels, sleeping, eating, and other navigation that
has to happen for the trip.
Does the “Coming and Going”
Workers’ Compensation Rule Apply During Business Travel?
In the Buma case, the lower court applied
the “going and coming” rule. The rule prohibits compensation for injuries that
occur during the commute. The Supreme Court explained that the employer is not
liable for the daily dangers of the employee; however, the commuting rule isn’t
applicable when a person travels for work. Under Nevada law 616B.612(3),
traveling employees are covered, including acts that are incidental to
The court said that work travel doesn’t
cover social and recreational activities that a traveling employee chooses to
pursue. These are things that occur for strictly personal amusement. To be a
personal activity, the employee must show an intent to abandon the job
temporarily. It’s a very fact-dependent question that depends on the unique
situation in each case.
The workers’ compensation commuting rule is complicated. There are times that work travel is covered, and you are eligible for benefits. Sometimes it can be a difficult question of whether you’re traveling for business. The Las Vegas workers’ compensation attorneys at Adam S. Kutner, Attorney at Law explain travel, and the 2019 Nevada Supreme Court case of Buma vs. Providence Corp. Development.
The best way to know if you qualify for
workers’ compensation is by getting a personal review of your claim by a
qualified and experienced attorney.
The Amos Rex Art Museum in Helsinki has won the prestigious LCD (Leading Culture Destination) Award for New Cultural Destination of the Year – Europe. The awards, coined “the Oscars for Museums” by the international press, were presented at the annual LCD awards ceremony in Berlin on 4 March 2020.
opening in August 2018, the Amos Rex Art Museum has made a big impact
on the cultural scene in Helsinki, attracting over half a million visitors
during its first year. Amos Rex is an art museum where the past, present
and future meet. The iconic functionalist Lasipalatsi building (i.e. Glass
Palace) and the new gallery spaces under its undulating square, provide 10 000
m2 for unique experiences both below and above ground, as well
as on the silver screen of Bio Rex. Amos Rex’s exhibition programme
extends from the newest, often experimental, contemporary art to 20th-century
modernism and ancient cultures. The new museum space was designed by
Finnish architecture office JKMM.
are extremely honoured at Amos Rex to receive the LCD Award for New Cultural
Destination of the Year in Europe. It is a significant award for us, as we
aim to serve the international public as an art museum, architectural
attraction and urban meeting place. We are delighted to see how Amos Rex is
contributing to Helsinki’s appeal as a cultural city in Europe”, says Kai
Kartio, Museum Director of Amos Rex.
Helsinki – a thriving city
of arts and culture
its lively cultural scene, Helsinki continues to position the culture
amongst its core values, building on its reputation as an art, design and
architecture capital. With residents visiting cultural institutions more than
ever before, ambitious initiatives such as the 2018 Amos Rex Art Museum and Oodi
Central Library openings demonstrate the city’s forward-looking commitment to
local contemporary art and its relationship with the global community, the
eagerly anticipated Helsinki Biennial 2020 draws on Helsinki’s distinct characteristics
and the surrounding archipelago, offering a unique contribution to the
international art scene.
believes in culture. The city is a diversified and internationally attractive
city of arts and culture, with Amos Rex as one of the leading attractions.
Working together with cultural institutions such as Amos Rex, the new central
library Oodi and the upcoming international art event Helsinki Biennial, we are
further strengthening Helsinki’s position as a must-visit city of culture”, continues Laura Aalto, CEO
of Helsinki Marketing.
Marketing is a company owned by the City of Helsinki. It is responsible
for operative city marketing and business partnerships for Helsinki. Helsinki
Marketing interacts with local residents, visitors, decision-makers and
29 January 2020: easyJet, Europe’s
leading airline, has announced the renewal of its long-standing content
partnership with Travelport, a leading technology company serving the global
travel and tourism industry.
In partnering with
Travelport, travel agencies around the world will continue to benefit from
real-time access to easyJet’s range of fares through the company’s market-leading
technology platform, Travelport Smartpoint.
easyJet will also
benefit from access to the full suite of Travelport’s digital media
merchandising solutions in line with the airline’s strategy to refine and
diversify the way it targets business and leisure travellers.
Haagensen, Group Markets Director at easyJet, said: “easyJet offers an unrivalled network flying to more primary airports
on the top 100 European routes than any other carrier which means we are
ideally placed to meet the expectations of where our customers want to fly for
business. Having been one of the first airlines in the low-cost sector to make its
inventory available through global distributor, Travelport, we continue to
deliver on our strategy to increase our appeal, especially to the business
travel sector and are pleased to have renewed our partnership.
easyJet will remain
among the 300 airlines that utilise Travelport’s innovative merchandising tool,
Travelport Rich Content and Branding. Travelport Rich Content and Branding enables
airlines to more effectively display their products in line with how they are
sold on their own websites, with detailed product descriptions and imagery that
enhances the experience for travel agents looking to search, sell and book
branded fare families.
Mike Rock, Head of Europe, Air Partners at Travelport,
said: “The way that business and leisure travellers make travel choices continues to
evolve and diversify as new and emerging technologies, and industry standards
improve the experience of buying and managing travel. Our longstanding
relationship with easyJet has enabled the airline to develop a multi-channel
global sales strategy and we’re looking forward to working with the team to
support its ambition for growth in Europe and beyond.”
A new crypto asset regulation drafted and passed by the House of Representatives in Japan is expected to have a serious effect on the way custodians and exchanges do business in the country. The Financial Instruments and Exchange Act and the Payment Services Act is set to keep a keener eye on players in the crypto industry at a time when the crypto gambling industry in Japan is fighting through already restrictive gaming regulations.
Joseph D. Hugh is the CFO of Jukebucks, a platform that facilitates international cryptocurrency betting. Hugh says the strict regulations Japan has regarding gambling, in general, has been passed over to the crypto gambling industry. Hugh explains it is not an easy thing for the country to completely deny players access to the gambling industry, but Japan keeps tabs on players under the pretense of tax monitoring.
Despite the restrictions that exist in Japan, lawmakers in the country agreed a little more than a year ago to allow physical gambling locations in the country.
Hugh says Japan will begin allowing offline casino betting in the country following the 2020 Olympics. He says it is unclear at this time what business entities may be in line to receive casino licenses but these permits will be issued for casinos in Osaka, Tokyo, Hokkaido, and Okinawa. It is presumed by experts in the industry, Japan will lessen restrictions on online casino play in the country after the offline industry is established.
The “integrated resorts” stamp of approval was given by the Japanese government some time ago but the effects have yet to trickle down to the gambling industry.
Integrated resorts are entertainment complex that showcases a comprehensive set of entertainment venues. Casinos are often counted among the group of business establishments part of an integrated resort. Other attractions include shopping malls, movie theaters, theme parks, and hotels.
Japan and Prime Minister Shinzo Abe have appeared to be more willing to introduce legislation to benefit casinos in recent times. However, this enthusiasm does not seem to translate to crypto gambling possibilities.
Japanese Crypto Gambling
One would think that crypto gambling is much more prevalent in Japan than it is once taking a look at the abundance of regulations the country has put together on the matter. Much of the regulation is seen as a response to the 2014 collapse of the crypto-exchange Mt. Gox that was headquartered in the country.
Tron is a blockchain network that reports it is working on the infrastructure that will facilitate a completely decentralized internet. In 2019, Tron disallowed gambling apps in its app store after being pressured by the government of Japan to do so.
The Chief Technology Officer for Tron at the time of the decision to block the gambling apps, Lucien Chen, was so upset by the decision he left the company. Chen said there was a breakdown between the company’s claim to be a decentralized entity and the actions it was taken against the gambling apps.
How It Works?
There are two ways that blockchain gambling can take place. The first is off-chain gambling while the other is on-chain.
Smart contracts are utilized on a blockchain to facilitate on-chain gambling. A decentralized application is also needed that makes use of backend code that runs on a network for blockchain and not a traditional server.
Off-chain casinos are much easier targets for governments who wish to either regulate or eliminate crypto gambling. Websites that allow crypto gambling will often ban IP addresses that originate in certain countries. For example, users in America will find they are unable to access gaming sites that accept Bitcoin from their home location.
It is important to understand that on-chain gambling sites are not completely immune from government regulations. A good example of this is Tron’s refusal to share access to its gambling apps to users with Japanese addresses. However, the same users can access the apps if they use a VPN.
Global Crypto Gambling Regulations
The regulations most countries have in place to govern gambling that takes place online have been in place for quite a few years now. However, only a few countries have so far specifically addressed the issue of crypto gambling. Countries that have established crypto gambling regulations include the Netherlands, the United States, Poland, Greece, Belgium, and Italy.
In countries that do not consider Bitcoin a legal method of pay it is not acceptable to fund gambling efforts with the currency. However, lawmakers in these countries will need to make the regulations regarding this matter clearer for gamblers, casinos, and themselves.
Japan, a nation whose gambling revenue slightly outpaces the revenue produced by Nevada in the United States, is one of these countries in need of better clarity.
A number of online gambling platforms exist in the United Kingdom that will allow players to fund their accounts with Bitcoin. These providers of gambling services are subject to the same laws that govern the operations of other establishments in the gambling industry. Sportsbetting is popular in the United Kingdom and this is reflected by the number of sports betting websites available that allow users to place wagers using cryptocurrencies.
Gamblers are quick to point out the benefits afforded to them by the use of bitcoin. The first is privacy. Users are not required to reveal personal information when they use Bitcoin to facilitate a transaction. Bitcoin does not allow for total anonymity, however. Most countries make it necessary for individuals to share their identity before converting their Bitcoin to the fiat currency of their choice.
Coins like Zcash and Monero are not as popular as Bitcoin but offer users more protection to their identity. These coins are known to thwart attempts by regulators to gain access to personal information regarding coin holders and many supporters of regulations believe tighter controls should be exercised on these coins.
It may not be obvious to some who abhor the many regulations in place but the global gambling industry is slowly becoming more accepting of cryptocurrency. The effect can even be seen in Las Vegas, a place many believe to be the gambling capital of the world, where Bitcoin is being accepted in a few major establishments. The trend of increased acceptance for cryptocurrencies is expected to increase with time.
Deloitte currently estimates that by 2020, millennials’ total net worth worldwide will be more than double what it was in 2015. There are several reasons that account for this trend, some of which include rising wages and the improving quality of life in developing countries.
However, there is another driving force: one of the largest
intergenerational transfers of wealth in history.
Baby boomers, the children of the late 40s, 50s and early
60s, were able to buy property at a low-cost relative to income. Their homes,
over the ensuing decades, have hugely increased in value; in the UK the average
price of a house has doubled since 1996––even after accounting for inflation.
For millennials, this has had two implications. Firstly, many are reliant on their parents if they want to purchase a house. Secondly, they could be set to collectively inherit a huge amount of wealth. Research from EY suggests that those born between 1981 and 1996 in the US will receive $30 trillion from their parents in the next 20 years.
Consider the fact that the global economy is valued at $80
trillion, and the scale of this wealth transfer begins to become apparent. For
those who already have property, along with high net worth (HNW) and ultra-HNW
individuals, investing their new wealth in stocks and shares will be the order
of the day, resulting in a changing client base for financial advisers.
Some things will be consistent with what has come before, according to research from Deloitte; 82% of millennials still want to discuss their financial situation face-to-face with an adviser, meaning a wholesale switch to digital communication is unlikely. Furthermore, the ultimate aim for millennial investors will still be healthy and sustainable returns.
What could change is the kind of assets new investors are interested in. The growth of “impact investing”, also known as environmental, social and governance (ESG) investing, is particularly popular among millennials––EY predicts that almost a fifth of investments now under management worldwide are in sustainable financial products. What’s more, two thirds of young people feel “obliged” to change the world for the better, meaning this is likely to inform their future investment decisions.
There are many examples of ESG investments providing good returns. The Cordes Foundation, headed by 29-year-old Steph Stephenson, has 100% of its $230 million in impact investments––and achieved an average yearly return of 8%.
The rise of millennial HNW individuals has one major
implication for financial advisers: they need to be entirely up to speed with
ESG financial products and the options available to millennial investors. With
the importance of ESG products to the financial sector only likely to increase
in markets around the globe, this is an important task that must be
Alpa Bhakta is the
CEO of Butterfield
Mortgages Limited. Part of the
Butterfield Group and a subsidiary of The Bank of N.T. Butterfield & Son
Limited. Butterfield Mortgages Limited is a London-based prime property
mortgage provider with a particular focus on the needs of UK and international
 EY (2017), Sustainable Investing: The millennial investor