Economic Impacts of a Russian Invasion of the Ukraine
By: Adeola Omole
February 19, 2022
Oil and Natural Gas
There would be material impacts on world economies if Russia invades the Ukraine. Most notably, the Oil and Natural gas markets would be directly affected in the event of a war. Russia is the number one source of natural gas in Europe, and also a large provider of oil to European nations. If a war were to ensue, it is highly likely that the U.S. and Europe would impose sanctions on Russia, which would lead to major shocks in the price of commodities such as oil and gas.
Since Europe is highly dependent on Russian energy, it’s unlikely that oil and gas would make the list of any sanctions imposed upon Russia. Likewise, since Russia would need the revenues generated from energy sales to fund a war effort, there would likely not be a drop of shipment of energy from Russia to Europe. However, if Russia decides to strategically withhold some energy shipments to Europe,...
CTV Interview - Sharing My Money Story
I had the great fortune of being a guest on the CTV Noon Hour Show earlier this month, and was grateful for the opportunity to share my money story with the viewers. The best part about being on the show was knowing that I could potentially be helping others who are currently struggling with their finances and who may be faced with mounting debt.
For those of you who may not know my money story, this blog post lays out the two most important experiences I encountered in my life that contributed to my current financial situation. Here is a high level overview of my money story, that I fortunately was able to share in my CTV interview.
Layoff Experience In my Twenties
In July of 2001 I was a bright eyed junior lawyer with an exciting legal career ahead of me. I was excited to get called to the Bar and finally begin paying back the mountain of debt that I had accumulated over the years (i.e. student loan debt, student line of credit,...
CBC Radio Interview - Talking About Debt
I was recently a guest on CBC Radio and had an opportunity to talk about an extremely important topic - DEBT! I was so grateful that I had an opportunity to share a couple of steps from my Supercharged Debt Repayment Plan (SDRP) with the listeners, and even more grateful to be able to provide some tips to those who are currently struggling financially.
For those of you who missed the interview - or were simply too smart to get up at the break of dawn to catch the show (the show aired live at 7:20 AM), I have posted a recording of the interview above for you to listen to. I hope you enjoy it!
Breakdown of Interview
I was on the air for 8 minutes, and had an opportunity to discuss 2 steps from my '7 Steps to Get Out of Debt and Build Wealth' program. Here is a breakdown of the Steps I discussed in the interview:
4 Ways To Double Your Money
Have you ever wondered how long it would take you to double your money in the stock market? Or wondered what types of strategies you need to implement in order to double your money in the markets? If so, this blog post lays out 4 ways that you can double your money.
Method #1: Invest in Quality Blue Chip Stocks and Hold Them For Many Years
The first way that you can double your money in the markets is to invest in non-speculative blue-chip stocks that are fairly priced and that represent good value, and also by investing in investment grade bonds.
Over the last 100 years non-speculative blue chip stocks have averaged a return of approximately 10%, and investment grade bonds have averaged approximately 6% return. The Rule of 72 is an investment principle that shows you how long it will take for you to double your money. So based on the Rule of 72, it would take you about 9 years to double your money if you were able to achieve an 8% rate of...
"My experience has taught me that a normal person can accomplish anything possible of human accomplishment, through the aid of the human mind."
- Napolean Hill
I'm very excited to announce that the book launch for my new book '7 Steps to Get Out of Debt and Build Wealth' is officially here. My book is officially available for purchase. I wrote this book to share the steps I took to pay off over $390,000 of debt, and the steps I took to build a 7 figure net worth.
When I was in my twenties I was laid off from a Law firm that I had been working at, and was forced to face my six figure debt head-on. Irrespective of the sheer fear and disconnect I felt , I was able to pay off my entire debt, and have written this book to show you how you can crush your debt, and begin amassing the type of wealth that will positively impact your life, and the lives of those you love.
In 7 Steps to Get Out of Debt and Build Wealth I lay out the steps I took to reach Financial Freedom...
Net Worth Statement
"If you want to create wealth, it is imperative that you believe that you are at the steering wheel of life, especially your financial life."
-T. Harv Eker, author of Secrets of the Millionaire Mind
Reading the above quote from T. Harv Eker reminds me of the importance of tracking your net worth so that you know where you're heading financially speaking. If you want to be at the steering wheel of your financial life, you have to know where you stand today, and what you need to do to achieve your goals tomorrow. That's what a Net Worth Statement allows you to do.
A Net Worth Statement is an important part of your overall financial health, and it's essentially a list of everything you own, everything you owe, and what you are currently worth. I prepare my Net Worth Statement on a quarterly basis. I recommend that you prepare a New Worth Statement on a semi-annual basis, or on a annual basis, at the very minimum.
How Do You Calculate...
Invest In What You Know
One of the most common questions I'm asked by new investors is how to figure out what companies to invest in, and without fail I always provide the same answer: "invest in what you know." This notion of investing in what you know is one of the hallmarks of successful investing.
When I started investing over 15 years ago my primary focus was on purchasing bank stocks, and the main reason for this was because I had worked in the banking industry for 8 years. Since I was very familiar with the banking industry, I found it less intimidating to invest in bank stocks, and actually became excited to delve into the financial statements and conduct investment research on this topic.
It was also very helpful to have worked in the banking industry because I got to see first hand the new technologies that were being developed at the bank, which in turn led me to invest in certain banks over others. Nonetheless, I was able to make great returns on my...
Millennial's and Home Ownership
A recent survey was conducted on Millennial's and their dreams of home ownership. The survey disclosed that the majority of millennial's would like to buy a home within the next 5 years. However, three out of four millennial's surveyed said they hadn't even started saving for a down payment, and the one's who have started saving had less than 25% of their down payment saved. Some millennial's were outright discouraged with the high expenses associated with home ownership, such as property taxes and home maintenance, that they felt home ownership had a negative social cost. Namely, 75% of the participants felt that home ownership had this negative social cost due to the fact that it would result in them having less money to spend on social activities,such as travelling and dining out.
While it is commendable that the survey participant's set a 5 year target to attain their home ownership dreams, I can't emphasize enough just how important it is...
Why I Sold My Facebook Shares
In this weeks blog post I discuss the reason why I sold all my Facebook shares. I also provide a couple other scenarios that would warrant the sale of stocks. While there are many other reasons why I sell stocks, the list provided below encompasses some of the most important reasons. I recognize there are a number of you who may not own individual stocks, so please know that when I say "stocks" I am also referring to all other types of investments, such as ETFs or mutual funds.
Three Reasons Why I Would Sell Stocks
Let me begin by saying that I really enjoy using Facebook's social media platform, which includes Instagram, Facebook, WhatsAPP and Messenger. I find these social platforms extremely beneficial, and use each one of these applications in my business. That being said, I make a conscious effort to abide by the rule of NEVER falling in love with any stock that I own. Hence the fact that while I really love using Facebook's...
I recently came across a debt survey that was conducted by a financial services firm named MNP Ltd., and was so intrigued by the results of the survey that I decided to share those results with you in this blog post. The survey asked the participants what they would be willing to do to get out of debt, and the results of the survey show that people are really desperate to shed their debt, and subsequently, are willing to do some extreme things to get rid of their debt.
Consumers have been enjoying ultra low interest rates for the greater part of a decade, and have been sucked into the vortex of cheap money. As a result, many people have been living beyond their means, and will be directly affected when interest rates go up, as was the case this week when the Federal Reserve in the U.S. led the charge by increasing interest rates by 25 basis points. It is inevitable that most Central Banks throughout the world will follow the lead of the Federal...