This is an excellent book I recently read by Matt Tenney. The title, and the message of the book, are reminiscent of Thich Nhat Hanh’s classic The Miracle of Mindfulness. The magic, or miracle, happens when you spend more of your time paying 100% attention to what you are presently doing. This make you spend less time worrying about the future or reliving painful moments from the past, and more time in the present. This is something I’ve been working on for some time but it is admittedly difficult to do on a regular basis.
This book gave me motivation to try harder. There is an amazing story at the beginning where Matt discovered this. He had made a bad error in judgement which led him to a very distressing place (he attempted to commit fraud and ended up in prison). After a couple of years there he noticed that instead of ruminating about how bad his situation was, if he just paid full attention while brushing his teeth he felt a lot better. The same thing happened while walking or doing other routine activities. He decided to try do this all the time, and essentially re-framed being in prison almost to being on a long retreat. He has spent his life since then serving others and trying to pass on this message.
So can those of us whose day to day life is not as bad as being in prison do the same transformation? It is worth a try!
Share this:
Related
Published by BionicOldGuy
I am a Mechanical Engineer born in 1953, Ph. D, Stanford, 1980. I have been active in the mechanical CAE field for decades. I also have a lifelong interest in outdoor activities and fitness. I have had both hips replaced and a heart valve replacement due to a genetic condition. This blog chronicles my adventures in staying active despite these bumps in the road.
View all posts by BionicOldGuy
I used to think building a community just meant “posting consistently” and praying someone commented. Spoiler: it doesn’t work that way. Whether you’re a startup founder, a SaaS marketer, or a creator trying to keep your small community of audience from turning into a ghost town, community management is hard.
Before I got into content marketing, I dipped my toes into the community world and quickly realized that building real connections takes more than good vibes and emojis. So, I did what marketers do best: I over-researched like crazy. I compared 20+ tools to find the best online community management software to keep people engaged, active, and actually coming back.
Of course, there’s Slack, Reddit, Discord, and even Facebook Groups, but most of those weren’t built to scale or support the kind of branded, intentional community experience I was after.
In this list, I’m breaking down the standouts, from sleek all-in-one platforms to lightweight tools perfect for early-stage communities. Whether you’re focused on user growth, member retention, or just want a place your community actually wants to hang out in, there’s something here for you.
An old mine cart is parked outside the Gila County Historical Museum in Globe, Ariz. Mining is still part of the local economy, but many area residents have low-wage jobs that make them eligible for Medicaid.
Linda Gross for KFF Health News
hide caption
toggle caption
Linda Gross for KFF Health News
GLOBE, Ariz. — Like many residents of this copper-mining town in the mountains east of Phoenix, Debbie Cox knows plenty of people on Medicaid.
Cox, who is a property manager at a real estate company in Globe, has tenants who rely on the safety-net program. And at the domestic violence shelter where she volunteers as president of the board, Cox said, staff always look to enroll women and their children if possible.
But Cox, who is 65, has mixed feelings about Medicaid.
“It’s not that I don’t see the need for it. I see the need for it literally on a weekly basis,” she said. “I also see a need for revamping it significantly because it’s been taken advantage of for so long.”
It wasn’t hard to find people in Globe like Cox with complicated views about Medicaid.
Debbie Cox, a property manager, says she has tenants who need Medicaid to get medical care, but she also thinks the program needs to be strengthened to prevent abuses.
Linda Gross for KFF Health News
hide caption
toggle caption
Linda Gross for KFF Health News
Gila County, where Globe is located, is a conservative place — almost 70% of voters went for President Trump in November. And concerns about government waste run deep.
Like many rural communities, it’s also a place where people have come to value government health insurance. The number of Gila County residents on Medicaid and the related Children’s Health Insurance Program has nearly doubled over the past 15 years, according to data from the Georgetown University Center for Children and Families. Today, almost 4 in 10 residents are on one of the health insuranceplans for low- and moderate-income people or those with disabilities.
So, since House Republicans passed plans to cut roughly $716 billion from Medicaid, the nationaldebate taking placeover the program hits close to home for many Globe residents, even as some welcome the prospect of tighter rules and less government spending.
For a rancher
For Heather Heisler, the stakes are high. Her husband has been on Medicaid for years.
“We’re ranchers, and there’s not much money in ranching,” said Heisler, who gets her own health care from the Indian Health Service. “Most people think there is, but there isn’t.”
Heisler was selling handicrafts outside the old county jail in Globe on a recent Friday night when the town hosted a downtown street fair with food trucks and live music.
She said Medicaid was especially helpful after her husband had an accident on the ranch. A forklift tipped over, and he had to have part of his left foot amputated.
“If anything happens, he’s able to go to the doctor,” she said. “Go to the emergency room, get medicines.”
She shook her head when asked what would happen if he lost the coverage. “It would be very bad for him,” she said.
Among other things, the “Big, Beautiful Bill” passed by House Republicans would require working-age Medicaid enrollees to prove they are employed or seeking work. The bill, which has advanced to the Senate, would also mandate more paperwork from people to prove they’re eligible.
Difficult applications can dissuade many people from enrolling in Medicaid, even if they’re eligible, researchers have found. And the nonpartisan Congressional Budget Office estimates more than 10 million people will likely lose Medicaid and CHIP insurance under the House Republican plan.
That would reverse big gains made possible by the 2010 Affordable Care Act that has allowed millions of low-income, working-age adults in places like Globe to get health insurance.
More people with health insurance
Nationally, Medicaid and CHIP have expanded dramatically over the past two decades, with enrollment in the programs surging from about 56 million in 2005 to more than 78 million last year, according to federal data.
“Medicaid has always played an important role,” said Joan Alker, who runs the Georgetown University Center for Children and Families. “But its role has only grown over the last couple of decades. It really stepped in to address many of the shortcomings in our health care system.”
That’s particularly true in rural areas, where the share of people with disabilities is higher, residents have lower incomes, and communities are reliant on industries with skimpier health benefits such as agriculture and retail.
In Globe, former Mayor Fernando Shipley said he’s seen this firsthand.
“A lot of people think, ‘Oh, those are the people that aren’t working.’ Not necessarily,” said Shipley, who operates a State Farm office across the road from the rusted remains of the Old Dominion copper mine. “If you’re a single parent with two kids and you’re making $20 an hour,” he added, “you’re not making ends meet. You’ve got to pay rent; you’ve got to feed those kids.”
Fernando Shipley is the former mayor of Globe, Ariz. He says many of the people who rely on Medicaid are working, and otherwise wouldn’t be able to afford health care for their families.
Linda Gross for KFF Health News
hide caption
toggle caption
Linda Gross for KFF Health News
Not far away, at the local hospital, some low-wage workers at the registration desk and in housekeeping get health care through Medicaid, chief financial officer Harold Dupper said. “As much as you’d like to pay everyone $75,000- or $80,000-a-year, the hospital couldn’t stay in business if that was the payroll,” he said, noting the financial challenges faced by rural hospitals.
The growing importance of Medicaid in places like Globe helps explain why Republican efforts to cut the program face so much resistance, even among conservatives.
“There’s been a shift in the public’s attitude, and particularly voters on the right, that sometimes government plays a role in getting people health care. And that’s OK,” said pollster Bob Ward. “And if you take away that health care, people are going to be angry.”
Ward’s Washington, D.C., firm, Fabrizio Ward, polls for Trump, among other clients. He also works for a coalition trying to protect Medicaid.
At the same time, many of the communities where Medicaid has become more vital in recent years remain very conservative politically.
More than two-thirds of nearly 300 U.S. counties with the biggest growth in Medicaid and CHIP since 2008 backed Trump in the last election, according to a KFF Health News analysis of voting results and enrollment data from Georgetown. Many of these counties are in deep-red states such as Kentucky, Louisiana, and Montana.
Voters in places like these are more likely to be concerned about government waste, polls show. In one recent national survey, 75% of Republicans said they think waste, fraud, and abuse in Medicaid is a major problem.
The actual scale of that waste is hotly debated, though many analysts believe relatively few enrollees are abusing the program.
Mountains of mine tailings, or waste, above the valley where Globe, Ariz., is located. The area has been a center for copper mining since the 19th century.
Linda Gross for KFF Health News
hide caption
toggle caption
Linda Gross for KFF Health News
Nevertheless, around Globe, Republican arguments that cuts will streamline Medicaid seemed to resonate.
Retiree Rick Uhl was stacking chairs and helping clean up after lunch at the senior center.
“There’s a lot of waste, of money not being accounted for,” Uhl said. “I think that’s a shame.”
Uhl said he’s been saddened by the political rancor, but he said he’s encouraged by the Trump administration’s aggressive efforts to cut government spending.
Back at the street fair downtown, David Sander, who is also retired, said he doubted Medicaid would really be trimmed at all.
“I’ve heard that they really aren’t cutting it,” Sander said. “That’s my understanding.”
Sander and his wife, Linda, were tending a stall selling embroidery that Linda makes. They also have a neighbor on Medicaid.
“She wouldn’t be able to live without it,” Linda Sander said. “Couldn’t afford to have an apartment, make her bills and survive.”
KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs at KFF — the independent source for health policy research, polling, and journalism.
Confused about PFIC rules for Indian NRIs in USA? Learn how PFIC affects your Indian mutual funds, tax filing, and smart alternatives to avoid penalties.
If you’re an NRI living in the US and investing in Indian mutual funds or other foreign assets, then you might have come across a scary term called PFIC or Passive Foreign Investment Company. Many NRIs panic when they hear this, mainly because of the complex taxation and reporting rules around it. In this article, I’ll break it down for you in simple terms so that you know what PFIC is, how it affects you as an NRI, and what steps you can take to handle it smartly.
PFIC Rules for Indian NRIs in USA: Tax Impact & Solutions
What is PFIC?
PFIC stands for Passive Foreign Investment Company. It is a concept under the US Internal Revenue Code (IRC Section 1297). This rule was introduced to prevent US taxpayers from deferring tax or converting ordinary income to capital gains through foreign investments that generate passive income.
So, what exactly qualifies as a PFIC?
A foreign (non-US) company is considered a PFIC if it meets either of the following conditions in a tax year:
Income Test: 75% or more of the company’s gross income is passive income (like interest, dividends, capital gains, rents, royalties).
Asset Test: 50% or more of the company’s assets produce or are held to produce passive income.
Why Should NRIs in the US Care About PFIC?
Let’s say you are an NRI living in the US and you are investing in Indian mutual funds, ETFs, or ULIPs. From the US tax perspective, many of these investment instruments qualify as PFICs.
This means:
The IRS considers these investments as tax shelters, and
You will be subject to punitive taxation rules and mandatory filing requirements.
Common Indian Investments That May Be Considered PFICs
Mutual Funds (equity, debt, or hybrid)
ULIPs (Unit Linked Insurance Plans)
Exchange Traded Funds (ETFs)
REITs or Infrastructure Investment Trusts (InvITs)
This is because most of these funds are registered as foreign corporations in India and earn passive income. Hence, under PFIC rules, they become taxable under special rules in the US.
How is a PFIC Taxed in the USA?
If you hold a PFIC, you have three options for reporting and taxation under the US tax law:
1. Default Taxation (Excess Distribution Method) – Most Penal
Under this method, any gains from the sale or income (dividends) from PFIC are taxed at the highest marginal tax rate applicable in the year the income is recognized.
The IRS applies interest charges as if the income had been earned and untaxed over several years.
This is extremely punitive and complicated.
Example: You sold an Indian mutual fund with Rs.5 lakh gain. Instead of long-term capital gains (20% in India), IRS may tax it as if you earned Rs.1 lakh each year over 5 years and didn’t pay tax — and add interest.
2. Qualified Electing Fund (QEF) Election
You must obtain annual information from the PFIC to declare your share of income and capital gains.
This election is rarely practical because Indian mutual fund houses don’t provide QEF statements or financial data in the required IRS format.
Hence, for most NRIs, this option is not feasible.
Problem: No Indian mutual fund (SBI, HDFC, ICICI, etc.) provides these QEF statements. So, this is not practical for Indian investors.
3. Mark-to-Market (MTM) Election
If you elect this method, you declare annual unrealized gains/losses based on the fair market value of your investment at year-end.
Gains are taxed as ordinary income, while losses are allowed to the extent of prior-year gains.
However, this is applicable only for publicly traded PFICs (which most Indian mutual funds are not).
Again, not practical for most Indian investments.
Problem: Most Indian mutual funds are not traded on US-recognized exchanges, so this method is unavailable for most NRIs.
Bottom line: For most NRIs investing in Indian mutual funds, taxation under the default PFIC rules applies — which is the most complex and harsh.
Reporting Requirements: Form 8621
If you are a US person (citizen or resident alien), and you own PFICs directly or indirectly, you are required to file Form 8621 along with your US tax return.
One form is required per PFIC investment per year.
If you hold multiple mutual funds, you’ll need to file multiple forms (If you hold 10 mutual funds, you need 10 forms.)
Even if you didn’t sell or earn anything, you still have to report.
No minimum threshold — even a Rs.10,000 investment is reportable.
Missing this form can keep your entire tax return open for audit forever.
Failing to file Form 8621 can result in penalties, delays in tax processing, and extended audit windows.
Many tax preparers charge high fees (CPA costs: $100 to $300 per form — which adds up quickly!)to file Form 8621 because of its complexity. If you don’t file it correctly, you might end up with IRS scrutiny or overpaying taxes.
Practical Examples for Indian NRIs
Let’s make it real with a simple example.
Scenario:
You moved to the US in 2022 on H1B.
You already had Rs.20 lakhs in Indian mutual funds (5 different schemes).
You didn’t sell anything in 2022.
You think there’s no tax — but that’s wrong.
IRS says:
File 5 Forms 8621 for each mutual fund.
You may owe tax if the fund paid dividends or showed gains.
Even unrealized gains may be taxed under the default method.
Not filing = Audit risk + Penalties.
Latest Developments and IRS Guidance (As of 2024-2025)
Here are the emerging PFIC-related developments and enforcement trends you must know as an NRI:
1. Increased IRS Scrutiny Under FATCA & CRS
The IRS is using data shared under FATCA (Foreign Account Tax Compliance Act) and Common Reporting Standards (CRS) to identify foreign investment holdings of US residents. NRIs with undeclared mutual funds or ULIPs are increasingly at risk of:
Audits
Penalties for missed filings (especially Form 8621, FBAR, Form 8938)
Even if you have no taxable gain, not filing Form 8621 when required may leave your entire return open to audit indefinitely.
2. Tax Software Integration Still Lags
Though platforms like TurboTax and H&R Block now flag PFICs, they don’t support Form 8621 directly. Many NRIs are being forced to file via CPAs or manually using fillable PDF forms.
This increases the cost of tax preparation, often:
$100–$300 per Form 8621 per fund per year
If you have 10 Indian mutual funds, your filing cost alone may run into thousands of dollars.
3. No Indian Mutual Fund AMC Offers QEF Reporting
A Qualified Electing Fund (QEF) election is the most tax-friendly way to handle PFICs — but it requires specific annual disclosures from the fund (income, capital gains, etc.) in IRS format.
As of 2025:
No Indian AMC (SBI, HDFC, ICICI, etc.) provides QEF statements.
So QEF election is not possible.
You’re left with Default or Mark-to-Market (MTM) — both tax-heavy.
4. Mutual Fund Units May Be Deemed Sold Even Without Selling
If you make a gift, switch plans (from regular to direct), or transfer funds between AMCs, it may be treated as a “constructive sale” for US tax purposes, triggering PFIC taxation.
5. IRS Watch on Cryptocurrency and PFIC Overlaps
Some Indian crypto-based ETFs and structured notes are beginning to emerge, which also fall under PFIC classification. Expect tighter rules and tracking on:
Crypto-linked funds
Hybrid products combining equity + crypto
Indian Investments That Are NOT PFICs
Investment Type
PFIC Status
Reason
Direct Indian Stocks (Equity)
Not PFIC
You own the company directly — not pooled funds.
NRE/NRO/FCNR Bank Deposits
Not PFIC
Fixed deposits, not investment companies.
Government Bonds (G-Secs, SDLs, T-Bills)
Not PFIC
Issued by Govt. of India.
PPF / EPF
Not PFIC
Government retirement schemes, not pooled funds.
Sovereign Gold Bonds (SGBs)
Not PFIC
Issued by RBI.
Traditional LIC Plans (non-ULIP)
Not PFIC
Treated as insurance, not investment pool.
Direct Real Estate (Physical property)
Not PFIC
Not a fund; you directly own the asset.
Indian Investments That ARE PFICs
Investment Type
PFIC Status
Reason
Indian Mutual Funds (Equity/Debt)
PFIC
Pooled funds earning passive income.
ULIPs (Investment-linked plans)
PFIC
Treated as investment companies by IRS.
ETFs by Indian AMCs
PFIC
Corporate structures generating passive returns.
REITs/InvITs
PFIC
Structured like companies, distribute passive income.
AIFs (Cat I & II)
PFIC
Investment fund nature.
Portfolio Management Services (PMS)
PFIC
Usually pooled — treated like PFICs.
What Are Your Options as an Indian NRI in the USA?
Option 1: Avoid PFICs Altogether
If you are planning to stay in the US long term, it’s simpler to avoid Indian mutual funds.
Invest in US-based India-focused ETFs (like INDA, EPI).
These are not PFICs, easier to report, and have lower tax headaches.
Option 2: Shift to Non-PFIC Indian Assets
Consider moving your investments to:
Direct Indian stocks (e.g., Reliance, TCS).
NRE/NRO FDs – though interest is taxable, they’re not PFICs.
Government bonds – G-Secs, T-Bills, or RBI Floating Rate Bonds.
SGBs – offers gold exposure without PFIC classification.
Caution: Selling existing PFICs may trigger taxes — consult a tax expert first.
Option 3: Retain PFICs But File Diligently
If you prefer to hold Indian mutual funds:
Budget for annual CPA filing costs.
File Form 8621 properly.
Understand that taxation will be harsh (especially on gains).
Common Mistakes NRIs Make
Thinking PFIC rules apply only when you sell – Wrong.
Skipping Form 8621 due to small balances – Wrong.
Gifting Indian mutual funds to avoid PFIC – May trigger “constructive sale.”
Believing ULIPs are exempt – Wrong, IRS treats them as PFICs.
Ignoring older Indian investments – IRS looks at current holding, not purchase date.
Frequently Asked Questions (FAQs) – PFIC for NRIs in the US
1. Does PFIC apply to investments made before moving to the US?
Yes, it can apply, and this is where many NRIs get caught off guard.
The IRS does not care when or where you invested. If you’re now a US tax resident, all your global investments — including those made in India before moving — must be reported as per US tax laws.
So, even if you invested in Indian mutual funds 5 years ago, and moved to the US last year, you may still need to:
File Form 8621 for each mutual fund (or PFIC) you continue to hold.
Report income, gains, and even unrealized gains, depending on the PFIC method applied.
Example: You bought Rs.10 lakhs of mutual funds in 2020 while in India. In 2024, you move to the US. From the day you become a US tax resident, any gains or income generated are taxable in the US, and PFIC rules kick in — even if you didn’t sell.
2. What if I never sold my Indian mutual funds? Do I still need to report them?
Yes. Just holding a PFIC like an Indian mutual fund requires reporting.
Whether or not you sell, you must file Form 8621 every year.
There’s no de minimis threshold — even small balances are reportable.
Skipping the filing can leave your entire US tax return open for audit indefinitely.
3. Can I avoid PFIC by investing through a US-based brokerage in Indian ETFs?
Yes. Many NRIs prefer using US-domiciled ETFs (like iShares MSCI India ETF – INDA or WisdomTree India Earnings Fund – EPI) that provide exposure to Indian markets.
These are not PFICs, as they’re structured under US tax laws.
Gains and dividends are treated like any other US investment — simpler reporting and lower tax impact.
4. Can I gift or transfer Indian mutual funds to family members in India to avoid PFIC filing?
Technically yes, but it’s not that simple.
A gift or transfer is often considered a “constructive sale” by the IRS, triggering PFIC taxation.
You may owe taxes as if you sold it at fair market value, even if you didn’t receive any money.
Always consult a cross-border CPA before doing this.
5. Is a ULIP still a PFIC if it has an insurance component?
Yes. Even though ULIPs are marketed as insurance in India, they’re treated as investment funds by the IRS if they:
Don’t meet US insurance definitions, or
Accumulate passive investment income
ULIPs are almost always treated as PFICs unless structured carefully — which Indian insurers don’t usually do with US compliance in mind.
6. Can I switch from Regular to Direct Plan in mutual funds without triggering PFIC taxes?
Unfortunately, no.
Any switch is considered a sale and a new purchase.
The IRS may treat it as a disposition of PFIC shares, triggering taxation under the default PFIC method (which can be quite punitive).
7. I’ve held Indian mutual funds for over 10 years. Should I sell them now?
Selling PFICs may be wise to avoid future complexities, but:
The act of selling triggers PFIC tax rules if done while you’re a US resident.
It’s best to do a PFIC impact analysis with a tax advisor.
You may explore electing the Mark-to-Market method (if eligible), which taxes gains annually instead of on sale — sometimes simplifying the burden.
8. Can I use the QEF method to report Indian mutual funds?
No — at least, not practically.
The QEF (Qualified Electing Fund) method is the most tax-friendly PFIC reporting method.
But it requires annual statements from the fund in a format that complies with IRS rules.
No Indian AMC provides these — so QEF is not available for Indian mutual funds today.
9. Is EPF or PPF considered PFIC?
No.
EPF and PPF are government-backed retirement schemes, not pooled passive investment companies.
However, the interest earned is taxable in the US (even if tax-free in India).
You may still need to report them under FBAR or FATCA if balances exceed thresholds.
10. What happens if I don’t report my PFICs to the IRS?
There are serious risks:
IRS may impose penalties for non-disclosure, especially for high-value assets.
You may lose eligibility for statute of limitations — i.e., your entire tax return stays open for audit indefinitely.
Future green card or citizenship processes may be affected by tax non-compliance.
Filing even a zero-dollar Form 8621 can protect you from these consequences.
What About NRIs in Other Countries?
The PFIC rule is only applicable to US tax residents or citizens. If you are an NRI living in UAE, UK, Singapore, Australia, etc., then PFIC does not apply to you.
However, each country may have its own tax rules for foreign investments. For example:
UK has its own reporting fund regime.
Australia taxes foreign mutual funds differently.
But PFIC rules are unique to the United States — and infamously complex.
The PFIC rule is one of the most complicated tax regulations faced by NRIs in the US. If you are investing in Indian mutual funds or similar instruments, you are very likely dealing with PFICs — which means higher taxes, complex filings, and more compliance.
It is not illegal to invest in PFICs, but you must be careful about reporting them correctly and understanding the tax consequences.
As a fee-only financial planner, my advice is always to simplify your financial life. If the costs and compliance burden of PFIC rules outweigh the returns, then it may be better to explore US-domiciled alternatives or direct investments in India that do not fall under PFIC classification.
When in doubt, always consult a qualified cross-border tax expert.
Conclusion – If you are an Indian NRI living in the US, dealing with PFIC rules can be confusing and stressful. The IRS treats many common Indian investments like mutual funds, ULIPs, ETFs, and REITs as PFICs — which means more paperwork, higher taxes, and extra costs. But don’t worry — you can still manage it smartly. Once you understand which investments are considered PFICs and how they are taxed, you can make better decisions. Instead of mutual funds or ULIPs, you can choose simpler options like direct Indian stocks, NRE bank deposits, or US-based ETFs that invest in India — these are easier to manage and don’t fall under PFIC rules. You don’t have to stop investing in India completely. Just plan it carefully based on your current country of residence and tax rules. It’s always wise to take help from a cross-border tax expert and a fee-only financial planner who understands both US and Indian rules. With the right guidance, even complicated rules like PFIC can be handled smoothly and won’t come in the way of your financial goals.
For Unbiased Advice Subscribe To Our Fixed Fee Only Financial Planning Service
Happy Holiday Season, friends!! I can’t believe we’re already into the most wonderful time of the year (other than the summer, for me)!
If you’re like me, I have a few “secret santa” gifts I need to get (asap) as well as get the hubs some surprises under the tree.
If I had to make a list myself, I’d be putting all practical items as I wear these day in and day out with being a Trainer. Since I get to live in comfort, I can’t complain, and want to pass that along to others.
The funny thing was this morning one of our in-house Physical Therapists at the gym said to be “Kasey you’re just one big adidas symbol” and I laughed because, well, it’s true! I had an olive green matching Fleece set on and I’d be lying if I said I didn’t have one in at least 4 different colors on rotation.
So, whether you want to get yourself something special around this time of the year or pass along that comfort, here are my top adidas picks for the holidays!
Women’s Hoodies: Guys, you can ask everyone in my gym about my go-to look as it’s gotten colder because THESE are it! I am totally obsessed with these Essentials Oversized Fleece Hoodies. I wear them paired with the Essentials Fleece Joggers either every or every other day. If I’m not in the oversized hoodie, I’m 100% in the Essentials Crew Fleece Sweatshirt because I’M IN MY COMFORT ERA.
adidas Ultraboost 5X Running Shoe: I recently just did a blog post all about my love for these shoes! They aren’t too thick but not too thin – a perfect in between! Plus, I’m obsessed with the color.
Tracksuit: I mean, can we go wrong with a matching set? No. If you don’t want the fleece options I listed above (my current wardrobe, lol) any of the adidas tracksuits are always in style!
Sports Bra: adidas is known for their sports bras and they are also known to last. I personally go with their light support options, but any option you choose would be great. They also have ones with cute designs and also cute straps!
Waterproof Hiking Shoes: These Terrex Free Hiker 2.0 Gore-Tex Hiking Shoes would be the perfect gift for your avid hiker! I, myself, love hiking but hate when my shoes get wet. These would provide support, comfort, & keep away the wet.
Men’s Sneakers: Not only would these make a great gift for the guy in your life, but I’d honestly snag a pair for myself as well! I’ve been on the hunt for shoes to wear with jeans this year and these Gazelle Indoor Shoes have been all the rage!
To add to any of these, you can’t go wrong with their socks, bags, or beanies!
Analysts expect the Palo Alto, California-based company to report quarterly earnings at 80 cents per share, down from 82 cents per share in the year-ago period. HP projects quarterly revenue of $13.15 billion, compared to $12.80 billion a year earlier, according to data from Benzinga Pro.
On May 21, Morgan Stanley analyst Erik Woodring maintained HP with an Equal-Weight rating. He also raised the price target from $25 to $29.
With the recent buzz around HP, some investors may be eyeing potential gains from the company’s dividends. Currently, HP offers an annual dividend yield of 4.09% — a quarterly dividend of 29 per share ($1.158 a year).
To figure out how to earn $500 monthly from HP, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by HP’s $1.158 dividend: $6,000 / 1.158 = 5,181 shares.
So, an investor would need to own approximately $146,830 worth of HP, or 5,181 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $1.158 = 1,036 shares, or $29,360 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
HPQ Price Action: Shares of HP gained by 1.3% to close at $28.34 on Tuesday.
MINNEAPOLIS — When Sue Bird was appointed as the Managing Director for the U.S. women’s national basketball team earlier this month, Cheryl Reeve reached out to congratulate her.
Reeve, the 58-year-old longtime coach of the WNBA’s Minnesota Lynx, coached Team USA to its 10th Olympic gold medal last summer in Paris, France.
“I was thrilled for USA Basketball to appoint Sue to the position, and I thought the timing of it was great,” Reeve said last week before the Lynx played the Dallas Wings. “The evolution — you know, it’s hard to change something. It’s been so successful for so many years. And so, I give leadership, General (Martin) Dempsey, (CEO) Jim Tooley, just a lot of credit for that decision.”
But beyond that, Reeve says she and Bird haven’t talked about anything else, such as, if Reeve will continue to be the head coach of the senior national team.
“I congratulated Sue, and that’s been the extent of our conversation,” Reeve said when asked by SB Nation if she planned to coach the team in 2026 or 2028.
And so, with the FIBA World Cup approaching in about a year, and the next Summer Games on U.S. soil looming in 2028, it’s unclear who the next coach of the ultra successful U.S. women’s basketball team will be.
At her introductory press conference on May 8, Bird — who won five Olympic gold medals while representing Team USA as a player — identified “choosing a coach” for the 2026 World Cup in Berlin as one of her top priorities.
“There’s no specific timeline on that, but obviously that is super important,” Bird said. “And then once that’s done, choosing the larger staff.”
Based on the history of the U.S. national team, it wouldn’t be stunning if Reeve doesn’t continue on as head coach. Really, it would only be surprising if she is indeed standing on the sidelines in Los Angeles when the Summer Games begin in 2028. Beginning with Billy Moore in the 1970s, only one of the 11 coaches to lead the national team have coached in multiple Olympics: Geno Auriemma. Though, it’s worth noting that Pat Summitt would have likely been the coach for the 1980 team too had the U.S. not withdrawn from the games in Moscow. Instead, her lone Olympic coaching stint came in 1984, when the U.S. won the gold for the first time.
Every other coach that has led the national team has typically coached for just one cycle that includes a World Cup and an Olympics. That group includes Kay Yow, Theresa Grentz, Tara VanDerveer, Nell Fortner, Van Chancellor, Anne Donovan and Dawn Staley.
Should Reeve remain the coach, she would join Auriemma as the only two people to coach the women’s national team in multiple Olympics.
Tooley told the Associated Press that Bird’s term for managing director is for four years. She’ll have a major say in what the roster looks like and who the coach is for the World Cup and Olympics.
“Of course I’ve started to think about it, jotting some names down here and there,” Bird told the AP of choosing the next coach. “It’s the first priority without a doubt. There are so many qualified coaches in college and the WNBA.”
Should Bird not decide to retain Reeve as the coach of the national team, one possible and seemingly logical successor could be Kara Lawson.
The head coach of the Duke Blue Devils has a long history with and deep ties to Team USA. She won a gold medal as a player in 2008 — playing alongside Bird — and coached the Americans to an Olympic gold in 3×3 basketball at the 2021 Olympics in Tokyo. Lawson was also an assistant coach on Reeve’s Team USA staff last summer and was the lead scout for the gold medal game against France. Additionally, she has already been appointed as the head coach of Team USA for the FIBA AmeriCup this summer in Chile.
Lawson coached the Blue Devils to an ACC Championship this season, her fifth at Duke, and guided the team to its first Elite Eight appearance since 2013. It’s also worth noting that Duke athletic director Nina King was appointed to the USA Basketball Board of Directors for a term that runs through 2028.
The next FIBA Women’s World Cup begins on Sept. 4, 2026, in Berlin, Germany.
The answer: it depends. While many believe that insurance is a “set-and-forget” type of investment, that isn’t always the case. Depending on your area of practice, location, and more uncontrollable factors, your insurance coverage may go “out of date” sooner than you think. That is, if you aren’t setting up a proactive legal malpractice insurance renewal.
It’s imperative that once you get an insurance policy as a legal practitioner, you don’t sleep on staying in the know about your coverage. Getting a legal malpractice insurance renewal done proactively, and beyond the standard annual renewal period, can expose potential pitfalls and new advantages.
But while that all sounds fine and good, you may be thinking to yourself, “How am I going to find the time to check in on my policies so frequently? I’m a lawyer! I have a lot to do!” And, you’d be right. In this article, we’ll go through the reasons why it’s important for you to check in on your policies more frequently, and how to make the process as painless as possible.
Why do I need to keep legal malpractice coverage up-to-date?
Legal malpractice coverage, also known as lawyers’ professional liability insurance or errors and omissions insurance, protects attorneys and law firms from financial losses and reputational damage stemming from claims of negligent legal advice or actions.
Social inflation has become the main growth driver of US liability claims, according to Swiss Re Institute‘s new Social Inflation Index. Primarily due to a rising number of large court verdicts, social inflation increased liability claims in the US by 57% in the past decade. So, consistently ensuring that your policy limits will cover all of your potential expenses is vital. No one wants to be underinsured.
Beyond the financial, there are some reasons why you may be legally required to keep your malpractice insurance coverage up-to-date:
Clients may require their legal counsel to maintain a specific coverage limit in order to act as their representation
Depending on your state, you may be legally required to disclose your insurance coverage status to the government as well as to your clients
There are also other reasons why you should keep your LPL coverage up-to-date:
Peace of mind: Working as an attorney or running your own firm comes with enough stress as is, you don’t need another thing keeping you up at night. Knowing you have adequate financial protection against potential professional liability claims can be one less thing to worry about.
Uncover potential gaps in your current coverage in advance of making a claim and finding out the hard way. Especially as new circumstances and risks emerge and evolve, you or your business may encounter an issue that your policy doesn’t, or never did, cover.
How often do I really need to review my policy?
An insurance renewal is the process in which an insurance policy is extended for another term, typically under similar or the same conditions as the original policy. This typically occurs for the same duration as the original policy term.
While annual renewals are standard, waiting for them to address significant changes or emerging risks can leave you and your firm vulnerable. In life — and in practicing law — things are always changing and evolving, making the need for a more agile approach to insurance a must-have.
While the standard review cycle is yearly, it may be wise to check in on your coverages at the halfway point if possible. As well, if you experience significant changes at your firm, it’s probably a good time to review. We’ll go over a few of those potential changes below.
There are some changes within a law firm that could immediately prompt a legal malpractice insurance renewal. It’s easy to assume your current policy still covers all your needs, but changes in your role or responsibilities might introduce new risks that your old policy doesn’t address.
Here are some changes that could prompt a review of your current policies:
1. Significant changes in staffing
If your firm has recently hired a large number of new attorneys or let go of a number of staff, you should take a look at your current policy and ensure it still covers what you need. Further, an increased reliance on “of counsel” contract attorneys may also require some changes in your coverage plan. As well, the departure of key partners may also be cause for a policy review.
Solution: Having a policy with a broad definition of “Insured.” If your policy doesn’t specify exactly how many staff are employed by your firm, you may not be required to amend your policy in this circumstance. However, review your policy to ensure that this is the case.
2. Insurance policies and regulations change
Insurance policies and regulations change to adapt to evolving risks, protect coverage holders, and ensure financial stability within the industry. It’s important to stay informed about any modifications to your policy to avoid misunderstandings or gaps in coverage, it’s not uncommon for regulations to change and you may need to adjust your coverage in turn.
Solution: Your insurance company will notify you of these changes ahead of time. If there are anticipated or known changes in the terms of your coverage, you will receive a conditional legal malpractice insurance renewal notice.
3. You have changed practice areas
Regularly reviewing your policies helps ensure compliance with relevant regulations and industry standards, especially in the circumstance that you change your practice area. Perhaps you are entering a new, higher-risk practice area or scaling back other practice areas. These changes can impact your coverage and the cost associated with it.
Solution: Handle this at your next legal malpractice insurance renewal. Your insurance policy is signed in the previous year for a year’s worth of activities. You can reach out to your insurance provider, but it will not adjust costs or coverage until your yearly renewal date.
4. Changes in your firm’s business operations or structure
Similarly, if your business location has changed or if you are opening locations in new jurisdictions, you’ll need to update your policy to reflect those changes. Firm ownership or beneficiary designation changes should also be considered. As well as expanding to hybrid work models, mergers or new partnerships would also merit an update to your policy. Additionally branching out to pro bono or contract work outside of your regular role and responsibilities should also prompt a coverage review. Being underinsured or having inadequate coverage due to changes in your firm’s place of business or overall structure can leave you vulnerable to unexpected losses.
Solution: All of these changes, including relocations, mergers and acquisitions and more, are all changes that can be made mid-term. These changes should be reported to your insurance provider. It may not change the cost of your policy at the time, but it can be noted for an upcoming legal malpractice insurance renewal.
5. Changes in your professional financial health or client portfolio
Life changes, such as starting a new business, changing positions, or buying a new property, can affect your insurance needs. Similarly, business changes, like expanding operations or introducing new services, can bring new risks. Substantial growth or reduction in revenue may also merit a change in coverage. Be sure to take note of developments as they arise and check in with your insurance agent if you’re not sure if these new circumstances could impact your policy.
Solution: Talk with your insurance agent. If you are concerned that a change to your business might negatively impact your coverage, or worse, that you may no longer be covered, your insurance agent can help clarify.
How do I proactively review my legal malpractice insurance?
It is good practice to periodically review your existing professional liability policy before a claim is made to confirm that the policy provides coverage that meets your needs. Further, if no claims have been made and no changes have taken place on your end, twice a year is a safe benchmark for policy reviews. The midyear review will allow for an opportunity to refresh your memory, look at industry changes, and start thinking about what you may need to update or change in advance of your legal malpractice insurance renewal date.
Ready to start your review? Here’s how to better understand your insurance coverage:
Review your coverage by following these five simple steps:
Refresh your memory on key terminology including terms like premium, deductible and wrongful act. Grasping the full definitions of these words and others will ensure your review is comprehensive.
Get started by looking at your policy’s declarations page. The declaration page summarizes your policy which can make it easier to brush up on your coverage without having to read the entire policy document.
You’ve read the summary, now it’s time to read the fine print. Be sure to take a look at any insuring agreements and exclusions.
Finally, you can assess what options you have for renewal. Do you want to change providers? Do you want to add or omit coverage? You should feel equipped to answer these questions once you’ve completed your review. However, if you are still unsure, now is the time to tap into your agent for guidance.
It’s also important to note that not all insurance policies automatically renew and you may need to be an active participant in your renewal. While insurers are required to send a notice of upcoming renewal, it is important to be prepared with questions on your current and potentially changed coverage. So, mark your calendar.
If there’s a gap between the expiration and your new policy’s effective date, you may not have insurance coverage for that time because insurers are generally not required to back-date to close the gap.
The early bird benefits of midyear policy reviews
Changes in business operations or the legal landscape in general can make your existing policy inadequate. Regularly reviewing and updating your policy ensures it remains aligned with your current needs and helps you avoid costly gaps in coverage.
There’s more to gain than lose with a midyear policy review.
Knowing your insurance coverage is up-to-date and tailored to your specific needs provides peace of mind, especially in case of unexpected events.Proactively setting up a legal malpractice insurance renewal beyond the standard annual renewal is crucial for maintaining adequate protection and mitigating potential risks.
If you’ve completed your review and are looking for an insurance provider that understands law firms and their needs, get a quote and get started on your legal malpractice insurance renewal journey with Embroker today.
There was a time when the classic money rules made sense—buy a house young, avoid debt at all costs, stick to one job until retirement, and you’ll be set. That time was several decades ago. Yet many Baby Boomers continue to hand down this advice with the confidence of people who lived through a very different economy. Meanwhile, Millennials, saddled with student debt, sky-high rent, and stagnant wages, find themselves wondering why these time-tested strategies are failing them.
The problem isn’t that Boomers want to lead Millennials astray. Quite the opposite: they believe they’re offering wisdom. But the financial system they succeeded in no longer exists. Housing isn’t affordable. Jobs aren’t stable. Education doesn’t guarantee economic mobility. In fact, some of the most common boomer-era money principles are now dangerously out of touch with economic reality.
So what happens when you try to play by outdated rules in a rigged game? You lose and often feel like it’s your fault. Let’s break down the most harmful advice Millennials are still hearing and why it’s time to rewrite the rules.
Financial Advice That Needs to Go
“Buy a House as Soon as You Can” Isn’t Always Smart Advice Anymore
For Baby Boomers, buying a home was the ultimate goal and a reasonably attainable one. Real estate prices were lower relative to income, down payments were manageable, and mortgage interest rates often came with substantial tax advantages. Fast forward to today, and the path to homeownership looks more like a maze with booby traps.
Millennials face record-high home prices, stricter lending standards, and urban housing markets where buying requires six-figure incomes or massive inheritances. Add in student loans, inflation, and rising insurance premiums, and it’s clear that rushing to buy a home isn’t always a financially sound move.
In many cases, renting is the smarter choice, especially when it comes with flexibility, lower upfront costs, and no surprise repair bills. The belief that renting is “throwing money away” simply doesn’t hold up when homes are overvalued, and ownership costs can crush an already tight budget.
“Stick With One Job for 30 Years” Is a Recipe for Stagnation
Loyalty used to be a two-way street. Boomers who stayed with a company long-term were often rewarded with pensions, promotions, and job security. But for Millennials, staying put can mean falling behind.
Today’s job market rewards agility, not tenure. Career advancement often happens through lateral moves, strategic job hopping, or gig-based entrepreneurship, not waiting patiently for a promotion that may never come. Worse, sticking with one employer can mean missing out on market-value pay raises, especially in industries where raises barely outpace inflation.
Millennials who follow the “stay loyal” advice often find themselves underpaid and overworked, while their peers who switch jobs every few years see exponential income growth. In today’s world, loyalty should be earned, not assumed.
“Cut the Lattes” Isn’t Going to Save You from a Broken System
The infamous avocado toast and latte shaming? It’s financial gaslighting. The idea that Millennials are broke because of minor indulgences is not only wrong. It’s insulting. For Boomers, small savings may have added up to something meaningful. But Millennials are fighting much bigger budget battles.
Wages haven’t kept pace with inflation. Healthcare costs have skyrocketed. Rent eats up over 30% of income in most cities. Student loans are a monthly fixture. In this environment, cutting out coffee won’t solve the problem. Rethinking the entire system might.
Millennials aren’t financially irresponsible because they enjoy takeout now and then. They’re navigating a far more punishing economy, one where the cost of living has soared without a comparable increase in financial opportunity. Shaming them for $5 decisions ignores the systemic $500 problems.
Image source: Unsplash
“Debt Is Always Bad” Leaves No Room for Strategy
Boomers grew up in a world where credit was scarce, interest rates were volatile, and debt often spelled disaster. So, their instinct to avoid debt at all costs is understandable but unhelpful in a modern context.
Millennials live in an economy where strategic use of debt is not just common but often necessary. Few people can afford higher education, housing, or even emergency expenses without borrowing. When used responsibly, debt can be a tool, not just a trap.
The key is understanding how to manage debt: knowing when to borrow, how to shop for rates, and how to prioritize repayment. Blanket fear of all debt leads people to avoid building credit, miss investment opportunities, or get blindsided when emergencies hit. Financial literacy (not financial avoidance) is the real protection.
“You’ll Regret Not Having Kids By 30” Ignores Economic Reality
Another subtle piece of advice Millennials often hear from older relatives is about starting families “before it’s too late.” While it may come from a place of love, this pressure completely disregards financial reality.
Raising a child today costs hundreds of thousands of dollars from birth to 18, and that’s not including college. Daycare can rival rent in many cities. And paid parental leave is still not guaranteed in the U.S. For Boomers, starting a family young was financially possible. For Millennials, it can feel like a decision between survival and stability. Choosing to delay parenthood or skip it altogether is often the result of careful economic planning, not selfishness.
“Retire Early by Saving Aggressively” Isn’t Possible for Everyone
The FIRE (Financial Independence, Retire Early) movement may sound empowering, but even that concept has its roots in advice that assumes a level of privilege Boomers once enjoyed. Many Millennials struggle just to make ends meet, let alone max out retirement accounts or buy investment properties on the side.
Even when saving is possible, the idea of early retirement feels like a fantasy for those burdened by stagnant wages and heavy debt. Millennials need realistic strategies for financial resilience, not shame for not stashing away 25% of their income by age 30.
The better advice? Save consistently, automate where you can, and build flexibility into your plans. Retirement might not come at 50, but that doesn’t mean you can’t build a life you enjoy long before then.
So What Should Millennials Do Instead?
The first step is to let go of shame. You’re not failing because you’re not following the rules. You’re failing because the rules changed, and no one told you.
Next, build your own framework based on today’s reality. That includes:
Prioritizing financial literacy over rigid rules
Using tools like high-yield savings accounts and ETFs to grow wealth gradually
Saying no to homeownership pressure if it doesn’t fit your situation
Leveraging job changes and remote work to increase income
Learning the mechanics of credit rather than avoiding it entirely
Perhaps most importantly, Millennials should lean into community—sharing information, collaborating on housing, pooling resources, and unlearning harmful money myths together.
What outdated financial advice have you received that just doesn’t work today? How are you rewriting your own money rules?
