What type of life insurance should twentysomethings buy?

Wow, it sounds like you two are starting your lives together on the right foot. Congratulations on being super smart with your money!

I recommend 15- or 20-year level term policies, unless you have children. Im assuming kids are not in the picture, since you didnt mention any. Then, if you decide to grow your family at some point down the road, Id advise converting those to 30-year term policies. The idea behind this is you want the insurance to be there to protect everyone in the family until the kids are out on their own and established.

In the meantime and in the years after, your continued saving and wealth building will lead you to a place where you and your wife are self-insured.

Way to go, guys. Im proud of you!

-Dave

Dave Ramsey is Americas trusted voice on money and business. He has authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover,EntreLeadership and Smart Money Smart Kids. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

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Three Simple (But Not) Easy Steps to Becoming a Millionaire

Thats right; becoming rich is not complicated, despite what people tend to think. Because wealth-building is not an accident, but an action.

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First Quantum Announces Refinancing With Improved Financial Covenants and Amortization Schedule

TORONTO, ONTARIO–(Marketwired – May 27, 2016) –

(In United States dollars, except where noted otherwise)

First Quantum Minerals Ltd. (First Quantum or the Company) (TSX:FM) (LSE:FQM) today announced that it has completed a new Term Loan and Revolving Credit Facility (the Facility) with its core relationship banks. This new Facility replaces the existing $3 billion facility. The new $1.815 billion Facility comprises a $907.5 million Term Loan Facility, and a $907.5 million Revolving Credit Facility, maturing in December 2019. The new Facility includes revised financial covenants and an extended amortization schedule that only starts in June 2017, which combined with the receipt of the Kevitsa asset sale proceeds, improves the financial flexibility of the Company without reducing liquidity, while further reducing net debt.

The Facility will leave the Company with approximately the same liquidity within the next 12 months, when compared to the existing $3 billion facility. Under the new Facility, the current Net Debt to EBITDA covenant ratio of 5.5x will now be maintained until Q3 2017. The ratio will then reduce to 5.0x until Q1 2018, then to 4.5x until Q3 2018, and to 3.5x until 2019, when it will reduce to 3.25x timed to better match the Cobre Panama construction and commissioning schedule.

The new Facility also incorporates an accordion feature to enable it to be increased to up to $2.2 billion at the Companys discretion. This feature provides added flexibility for the Company.

This refinancing, along with the asset sales and project financing initiative, ensures continued financial flexibility for the Company moving forward, reduces net debt but not liquidity, allowing us to focus on our operational and developmental goals, while protecting against short term volatility in the commodities markets, stated Philip Pascall, Chairman and CEO of First Quantum, We thank our banks for their continued strong support for our strategy.

The Initial Mandated Lead Arrangers are BNP Paribas, Barclays Africa Group, Societe Generale London Branch and Standard Chartered Bank.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

12g3-2b-82-4461

Listed in Standard and Poors

For further information visit our web site at www.first-quantum.com

Cautionary statement on forward-looking information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements include estimates, forecasts and statements as to the Companys expectations of future financing requirements, which will depend, in part, on production and sales volumes, information with respect to the future price of copper, gold, cobalt, nickel, zinc, pyrite, PGE, and sulphuric acid, estimated mineral reserves and mineral resources, estimated future expenses, exploration and development capital requirements, the Companys hedging policy, and goals and strategies. Often, but not always, forward-looking statements or information can be identified by the use of words such as plans, expects or does not expect, is expected, budget, scheduled, estimates, forecasts, intends, anticipates or does not anticipate or believes or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about continuing production at all operating facilities, the price of copper, gold, nickel, zinc, pyrite, PGE, cobalt and sulphuric acid, anticipated costs and expenditures and the ability to achieve the Companys goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

See the Companys Annual Information Form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantums control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made herein are qualified by this cautionary statement.

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HASD to save $1.7M thanks to refinancing

Refinancing money borrowed for creating a science academy and expanding an elementary school will save the Hazleton Area School District approximately

$1.7 million, the district’s business manager said Thursday after a school board meeting.

Anthony Ryba said the district will take the savings as a lump sum rather than reduce payments or shorten the time for repaying the debt.

The school district originally borrowed a total of $30 million in 2008, 2011 and 2013. Funds created the Hazleton Area Academy of Science in Drums and enlarged the former Bishop Hafey High School and converted it to the Maple Manor Elementary/Middle School.

“It’s an opportune time to refinance,” Brian Bradley of RBC Capital Markets told the school board during its meeting in Freeland.

While the district pays an aggregate interest rate of 4.3 percent on the bonds, rates now are around 2.5 percent, Bradley said.

The district won’t lock in the new rate until completing the refinancing.

While Hazleton Area has outstanding bonds of $108 million, Bradley said the district could borrow up to $274 million without exceeding its debt limit, which is based on revenues.

Bond counsel Jens Damgaard said $30 million is the maximum that the district will refinance, but the amount probably will be less when the deal ends.

The bond consultants can refinance the amount in one new bond or two or three smaller bonds to get the best deal, Damgaard said.

To meet a requirement for an earlier bond, the district approved an agreement with the Securities Exchange Commission. Hazleton Area will submit audits required by Dec. 31 each year. During the first year of the bond, the district’s audit wasn’t done until the end of March, but since then audits have been completed by the end of December, Ryba said.

After finishing the new refinancing, Ryba said the district hasn’t decided how to use the savings.

But board members continue to chip away at a $6 million deficit in a preliminary budget they introduced last week.

The board didn’t discuss the budget during Thursday’s meeting, which started 44 minutes late and included a 19-minute recess for private sessions about personnel and litigation.

After the meeting, however, Ryba said the board is trying to reduce the deficit by leaving jobs empty rather than furloughing employees.

Twenty-four teachers announced they will retire, and the board accepted resignations of several non-teachers who were offered early retirement options.

kjackson@standardspeaker.com

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Official: Refinancing Saves City $10M on Arena

City officials say theyve shaved $10 million off interest payments over the next two decades on the Ford Center arena.

The City Council approved an ordinance to refinance the Downtown arena bonds Monday night. The bonds wont be paid off until 2039, but by refinancing now and getting a low interest rate, the city will save $9.77 million, said City Controller Russ Lloyd.

The 10,500-seat arena opened in 2011. The city financed a total of $122 million in bonds to pay for the project in 2010. The city still owes $113.6 million on the bonds.

The city pays about $8 million a year on the debt. The money comes out the Downtown tax district, food and beverage taxes and Riverboat funds.

The council approvedĀ the refinancing unanimously 8-0. Councilwoman Anna Hargis, R-3rd Ward, was not present.

The bond refinancing was the only item on the City Council agenda Monday night, which made for a 21-minute meeting – including the finance committee hearing. More will be on the agenda at the councils next meeting June 13.

The Administration, Safety, and Development Committee, led by Councilman Dan Adams, D-At large, will discuss an ordinance creating a mutual aid agreement between the Evansville and Henderson fire departments. The Evansville Board of Public Safety approved the measure in April.

The council will also decide whether to approve the Vanderburgh County Comprehensive Plan. It outlines a vision for development in Evansville and Vanderburgh County over the next two decades, and is largely centered around the idea of infill development or building new housing in the areas urban core.

The Darmstadt Town Board and Vanderburgh County Commissioners also have to approve the plan.

Read More of Todays AB Headlines

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Magellan Minerals Ltd. Announces Settlement of Certain Debts and Resignation of Director

VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 20, 2016) – Magellan Minerals Ltd. (TSX VENTURE:MNM) (the Company) is pleased to announce that it has received the regulatory approvals necessary to proceed with its previously announced debt settlement transaction involving the exchange of $500,000 of liabilities due to certain members of management for, among other things, the Companys interest in its Brazilian subsidiary, Magellan Minerais Prospeco Geolgica Ltda. (Magellan Brazil). Magellans primary property, Coringa, and the adjacent Mato Velho project are held by its subsidiary, Chapleau Explorao Mineral Ltda., and are not affected by the proposed transfer.

The Company obtained disinterested shareholder approval for the debt settlement at its annual general meeting on December 2, 2015. The Company will complete the transfer of its interest in Magellan Brazil prior to the closing of its arrangement with Anfield Nickel Corp. which is expected on or around May 6, 2016, as the completion of the transfer of its interest in Magellan Brazil is a condition precedent to the arrangement. Further information with respect to the divestiture of Magellan Brazil can be found in the Companys news releases dated December 3, 2015 and February 29, 2016 and in the information circular for the Companys most recent annual general meeting (filed on SEDAR on November 4, 2015).

The Company also announces that it has agreed to issue a total of 4,084,730 common shares of the Company in connection with the following:

  • 2,202,377 common shares of the Company to be issued in full satisfaction of debt in the total amount of $187,202 owed to an arms length third party. This shares for debt transaction is also subject to approval of the TSX Venture Exchange
  • 1,000,000 common shares of the Company to be issued as a finders fee to an arms length third party in connection with its previously announced agreement with Troy Resources Ltd., pursuant to which the Company will acquire the Andorinhas processing plant and mining fleet
  • 882,353 common shares of the Company to be issued to an arms length third party in connection with financial advisory services provided to the Company.

The Company also announces that it will pay finders fees in the amount of $29,064 in connection with the Companys US$350,000 convertible debenture financing which closed in December 2015 (see the Companys news release dated January 19, 2016).

The Company further announces the resignation of Ken Nilsson as a director of the Company. The Board wishes to thank Mr. Nilsson for his efforts on behalf of the Company and wishes him every success with his future endeavours.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

News release #2016-8

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Oportun Named One of SF Bay Area’s Best Places to Work

REDWOOD CITY, CA–(Marketwired – Apr 20, 2016) – Oportun today announced that for the second year in a row, it was named one of the SF Bay Areas Best Places to Work by the San Francisco Business Times and Silicon Valley Business Journal. Oportun is a mission-driven financial services company that uses advanced data analytics to provide responsible, credit-building loans to Hispanics and others with little or no credit history.

The annual Best Places to Work list evaluates employers for values such as fun, collaborative culture, solid compensation and benefits offerings and other amenities as well as management practices through extensive employee surveying. The rankings were unveiled on April 19, 2016 at the awards ceremony.

We are thrilled to be recognized for the second year in a row as one of the best places to work in the San Francisco Bay Area, said Oportun CEO Raul Vazquez. As a mission-driven organization, we attract people who are equally committed to their professional growth and to having a positive impact on the lives of others. There are so many things we do to make this a great place to work, but it is that common purpose that drives and inspires us.

For more information about Oportun, please visit oportun.com.

About Oportun

Oportun, formerly known as Progreso Financiero, is a mission-driven financial services company that uses advanced data analytics and technology to provide responsible, affordable personal loans to financially underserved Hispanics and others, many of whom have little or no credit history. The companys centralized data analytics system calculates each loan applicants ability to repay, approves those loans the company believes can be paid back, and sets loan amounts and terms to fit individual budgets. Customer account information is also reported to credit bureaus to help customers establish credit history. Since its founding in 2005, Oportun has helped more than 689,000 customers by disbursing more than $2.2 billion through more than 1.3 million small dollar loans. The company delivers customer service with bilingual staff across channels and operates more than 179 locations in California, Illinois, Nevada, Texas, and Utah.

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Re-entry Business Summit at CCAC Encourages Employers to Hire Returning Citizens

PITTSBURGH -A National Institute of Justice survey revealed that between 60 and 75 percent of ex-offenders are jobless up to a year after release yet many employers can’t find qualified employees to fill their jobs.

In light of this information a cluster of community organizations formed the Allegheny County Anchored Re-Entry Consortium (ACAR), which today is hosting an educational program for employers entitled Business Leaders’ Summit: Re-entrants Work! at Community College of Allegheny County – Allegheny Campus. The Summit is designed to provide employers with valuable information they need to consider hiring formerly incarcerated individuals, also known as returning citizens or re-entrants. Specifically, the Re-entrants Work! Summit is designed to share best practices from leading employers along with a “How to Guide”; discuss the business case for hiring reentrants; and detail the cost-benefit analysis and tax credits for hiring re-entrants. Nearly 200 business leaders, elected officials and heads of nonprofits were invited to attend.

US Attorney David J. Hickton, Allegheny County Executive Rich Fitzgerald, CCAC President Dr. Quintin B. Bullock and Michael J. Smith, President and CEO Goodwill of Southwestern Pennsylvania welcomed participants. Ron Painter, President of the National Association of Workforce Investment Boards, provided the keynote address. Two 30-minute panels followed: the first “Making the Business Case for Hiring Re-entrants” featured corrections and public policy officials and a second panel “Models of Best Practice” – featured employers and re-entrants. Pittsburgh Mayor William Peduto and CCAC President Bullock provided closing remarks.

“We are committed to preparing those who have paid their debt to society for substantive opportunities beyond the prison gates and addressing obstacles to successful reentry that too many returning citizens encounter,” stated US Attorney Hickton. “Supporting successful reentry is an essential part of our mission to promote public safety – because by helping individuals return to productive, law-abiding lives, we can reduce crime and make our neighborhoods better places to live.”

“In the county, we spend a great deal of time, effort and money providing those who are in the criminal justice system with the tools and resources they need to turn their lives around, but that effort is for naught if there are not organizations willing to look past their records to the individual they are and the skills and talents that they bring to the table,” said County Executive Fitzgerald. “We are trying to lead by example, which is why the county enacted a ‘Ban the Box’ policy last year. When permissible, we look at job applicants on a case by case basis with any criminal record just one piece of the overall process. This is an important conversation to have, and we’re proud to be part of it with our corporate partners.”

“CCAC is pleased to support the efforts of the Allegheny County Anchored Re-Entry Consortium and to host the ACAR Business Leaders’ Summit. With our shared commitment to providing innovative programming designed to transform lives, we look forward to our continued collaboration and to the positive outcomes that are sure to result for the individuals who are being reintegrated into their communities, as well as for the employers and for the region as a whole,” said CCAC President Bullock.

Pennsylvania Department of Corrections Secretary John Wetzel added, “Every American benefits when an individual who was incarcerated re-enters society and becomes a good citizen. Meaningful employment is a critical component in achieving that objective.”

Mayor Peduto said, “Ex-offenders are our returning Americans that deserve a second chance like anyone else. We are missing out on a huge potential source of our workforce if we aren’t considering them in our hiring decisions.”

The ACAR began as an initiative led by CCAC to establish credit and non-credit programs for re-entrants. The ACAR has since evolved into a consortium of members from local government, community service agencies, faith-based organizations, corrections, the justice system, training and education institutions partnering to reduce recidivism through training, educational and employment opportunities.

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In final days of session, lawmakers tackle payday lending, begin deep dive into Medicaid

The Alabama State House is buzzing. After Wednesday, just six legislative days remain in this session. Lawmakers still expect to tackle key pieces of legislation.

Wednesday, a House committee held a public hearing on a payday lending bill passed by the Senate. Many call it the closest Alabamas ever gotten to meaningful change in the payday lending industry.

People have come to understand charging an annual percentage rate of 456 percent and offering a product to someone that by design is going to continue to have them renew that and pay fees. It puts them in a debt trap. People have come to grips that thats not right, explained Rep. Danny Garrett (R- Trussville).

The bill gives borrowers more time to pay back the loan. It extends the term from two weeks to six months. It lowers the annual percentage rate cap from 456 percent to 133 percent.

Garrett calls it the sweet spot.

I think this is the point where you can still have profitability and a substantial business and consumers get what they need, explained Garrett.

Lenders warned the committee that the way this bill is worded could close their doors.

Theres no question and we heard the testimony today, as passed that legislation would put my company out of business as well as the entire industry, would force everybody that needs short term cash to go to unregulated and far more dangerous and expensive options, said Jabo Covert, Senior Vice president Government affairs Check into Cash.

The committee heard hours of public comments Wednesday. It decided to wait to vote.

Later in the day, members of the House and Senate held a joint special hearing to take a deeper look into Medicaid.

In the 2017 general fund budget, lawmakers gave Medicaid a $15 million increase over 2016. However, Medicaid says it still needs an additional $85 million to avoid cuts in services.

Medicaid warns some key services could be cut, and is still working with the governor to determine which cuts will be necessary.

One option is to reduce reimbursements to physicians, which some have warned could close their doors and force them to move to other states.

I think the goal is to keep the conversation going, even though we passed the budget now and it is law, that we realize theres still serious issues with Medicaid and weve got to continue to talk to healthcare professionals, hospitals, nursing homes, pharmacists, nurse practitioners, doctors, to try to get some suggestions on where we need to go from their perspective, Rep. Steve Clouse (R-Ozark) told ABC 33/40.

Medicaid hearings will continue for many weeks, where lawmakers will have the opportunity to ask questions about the agencys finances and if the agency is getting the most out of the dollars it has.

Many lawmakers call the growing cost of Medicaid unsustainable.

Clouse points out that in 2007, Alabama funded Medicaid with about $400 million dollars. The 2017 budget funds Medicaid at $700 million.

.

More than one million Alabamians, approximately one fourth of the states citizens and many of them children and elderly patients, count on Medicaid as their lifeline to medical services.

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SACC review calls for big changes to payday lending and consumer leasing rules

The payday lending and consumer leasing industries face regulatory overhauls, if the Government accepts the recommendations of the Review of Small Amount Credit Contract Laws.

The review recommendations include an extension of the protected earnings amount rule that currently applies to small loans.

Small amount credit contracts are loans up to A$2000 where the term is between 16 days and 12 months.

Under the current rules total SACC repayments cannot exceed 20 per cent of gross income for Centrelink recipients. The review panel has recommended changing the cap to ten…

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