My Investments Are Set To Generate $738,311 in Annual Distributions
Michael Smith
-->Key PointsYieldMax ETFs that return high dividends have become very popular with DIY investors and FIRE adherents.Due to the monthly or weekly frequency of YieldMax ETF dividend distributions, those who use a DRIP program are maximizing dividend compounding to their wealth building advantage. Since acquiring additional dividend generating ETF shares is compounding so frequently, the distribution payouts can conceivably recoup initial investment principal for his entire portfolio in roughly 30 months, provided that the market doesn’t take a bearish downturn or goes sideways, such that derivative delta premiums shrink. Do you get tongue-tied discussing financial topics because you lack a command of the terminology? Are you ahead or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted and must act in your best interests. Don’t waste another minute learn more here.(Sponsor)-->-->The Snowball Effect of Dividend CompoundingDividend compounding has often been analogously compared to a snowball effect – the phenomenon of a snowball rolled down a hill to reach the size of a boulder when it reaches the base.An S&P 500 research study conducted by Harford Funds revealed some interesting facts related to dividend compounding through reinvestment:nextstayCCSettingsOffArabicChineseEnglishFrenchGermanHindiPortugueseSpanishFont ColorwhiteFont Opacity100%Font Size100%Font FamilyArialText ShadownoneBackground ColorblackBackground Opacity50%Window ColorblackWindow Opacity0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%200%175%150%125%100%75%50%ArialGeorgiaGaramondCourier NewTahomaTimes New RomanTrebuchet MSVerdanaNoneRaisedDepressedUniformDrop ShadowWhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%From 1960 to 2021, dividends comprised roughly 40% of total returns, on average.Reinvested dividends over the same period accounted for 84% of the S&P 500’s total return. Compounding dividends, a practice favored by Warren Buffett and many other heralded investors, can be likened to a snowball, hence thesnowball effectanalogy: If one pushes a snowball down a snowy hill, it continues to pick up snow as it rolls down, winding up to the size of a boulder by the time it reaches the base of the hill. Likewise, small dividend reinvestments made on a regular and consistent basis, can result in a large portfolio over time, and without the need to augment the portfolio via additional savings contributions, unless by choice, DRIP Your Way To Wealth BuildingDividend Reinvestment Plans (DRIP) are an excellent way for an investor to access dividend compounding and dollar cost averaging on autopilot.One of the simplest ways to build wealth through dividends compounding is to deploy a Dividend Reinvestment Plan (DRIP). This is an arrangement easily made with one’s brokerage account firm. It puts dividend reinvesting on autopilot, allowing for dollar cost averaging to build a much larger position without the need to devote additional savings to the process. A DRIP program can often be deployed with little to zero fees, thus maximizing dividend funds for investment, as opposed to expenses. In the case of dividend generating securities, the snowball effect will usually make its presence felt after a few years, once the accumulated effect of the added shares can contribute to a portfolio, after several quarters’ worth of reinvestment. However, the effect becomes more readily apparent and exponentially more effective when the DRIP process is working on a monthly or weekly basis. YieldMax ETFs Can Turbocharge DRIP ProgramsMonthly or weekly dividend contributions can be like jet fuel to accelerate a DRIP program vs. a conventional quarterly dividend.YieldMax Exchange Traded Funds (ETFs) have built the company a growing niche reputation for generating substantial dividends, especially within the DIY investment and FIRE (Financial Independence, Retire Early) communities. Their platform is predicated on the ETFs being pegged to volatile tech stocks. A short maturity covered call option collar strategy is deployed to generate dividends from the high delta option premiums. As a result, the dividends for popular YieldMax ETFs like MSTY (which track MicroStrategy) and NVDY (which tracks Nvidia) pay out monthly. In the case of ULTY, which has become one of the most controversially popular of YieldMax’s newer ETFs, there is a portfolio of 30 or more actively volatile stocks against which a mix of call and put options may be open at any given time, in addition to synthetic options. At the time of this writing, ULTY has a distribution yield of roughly 88% and pays distributionsweekly. A DRIP program operating with 4 dividend reinvestments annually based on quarterly payouts can take several years for the compounding effect to show a notable difference. However, a weekly 52-dividend reinvestment over the course of a year, even in smaller increments, exponentially magnifies the snowball effect, and results can be easily acknowledged in a few months under a DRIP program. The larger the principal amount, the more pronounced the dividend compound effect will appear when crunching the numbers. Investment Recoupment In Almost 30 Months?The possibility of recoupment in under three years on high-yield ETF investments means that all subsequent distributions would be taxed as capital gains, as opposed to at one’s income tax bracket.For investors pursuing wealth building who have the capacity to allocate all of their dividend earnings to a DRIP arrangement, the inclusion of YieldMax ETFs can deliver tangible results in an accelerated timeframe. One investor who earns a $350,000 annual salary took to Reddit to tout his DivTracker results after adding MSTY to his portfolio in January, 2025 and ULTY at the beginning of August. The details are as follows:He already had prior positions in theNEOS S&P 500 High Income ETF (BATS: SPYI)and theNEOS NASDAQ-100 High Income ETF (NASDAQ: QQQI)via $600,000 in invested contributions. He initially purchased 10,000 MSTY at $27.20.Cumulatively, he has invested $1,101,441 in MSTY and at the time of this writing, owns 45,260 shares. His contribution investment un ULTY of $144,577 bought him 23,984 shares at $6.01.His total investment contributions equal $1,846,018. According to DivTracker, he has already collected $358,492 in cumulative distributions, and assuming the current rate of dividends continues unabated, is on track to receive $738,811 by year’s end. At that rate, the investor will have recouped his entire investment contribution amount via dividends in roughly 30 months, or 2.5 years. Upon recoupment for each holding, the investor’s tax basis changes from his income bracket to the lower capital gains rate. The poster noted that combined with his $350,000 salary, he was looking at a cumulative gross for the year of over $1 million. The View From Above – CautionsCovered call ETF dividends are contingent upon a volatile bull market to generate high option premiums, which would dry up in a bear market environment.From a risk management perspective, portfolio diversification is certainly a prudent strategy. By his own account, the poster has approximately two-thirds of his portfolio in two YieldMax ETFs: MSTY and ULTY. QQQI, SPYI. and MSTY all pay dividends monthly, with ULTY paying distributions weekly. All dividends are under a DRIP program. However, as growth oriented as the investments may be, there is a potential threat to the dividend income: The market may turn bearish or go sideways. If so, the delta of the options will shrink with a market downturn or slowdown, and the dividends will diminish accordingly. Additionally, all of the ETFs are engaged in some form of covered call strategy, which limits upside potential in favor of income, by design. As such, if the underlying stocks or indexes take a sizable appreciation leap, the upside will be capped, so the holdings will miss out on the bulk of the bull run. Although highly unlikely, if either NEOS or YieldMax were to have their ETF trading halted by the SEC for a potential violation or other scenario, the portfolio’s concentration in ETFs from those two issuers heightens the risk factor. Get Ready To Retire (Sponsored)Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.Here’s how it works:1. Answer SmartAsset advisor match quiz2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future.
Alacrity Foundation spinout tech firm Lumin Solutions in equity fundraise boost
A Newport tech start-up that has developed a case management system for use by child social care providers has been boosted with a six figures equity investment. The pre-seed round for Lumin Solutions, which successfully spun out of the Alacrity Foundation entrepreneurship programme, was led by SFC Capital, the Development Bank of Wales and a syndicate of business angels. The company is run by directors Piers Oliphant, 25, Ben Miller, 24, and Ben Gretton, 23. They teamed up at the Alacrity Foundation. Lumin’s innovative software product is an outcome-focused recording and planning system for care providers, many of whom are still predominately paper-based. It offers a digital care assistant that improves user experience and outcomes, reduces costs and improves regulatory compliance with evidence tracking. Key features include care plans, assessments and regular reporting. AI-powered analytics will enable users to analyse their data and records with speed and customisation, offering insights into their organisation and care practices to improve outcomes and prepare for inspections. The funding from SFC, the development bank and the syndicate of business angels led by lead investor Darryl Morton will be used to scale-up product development, sales and marketing. Director Mr Oliphant said: “The UK’S Digital strategy is pushing care providers to adopt digital care recording systems and maintain appropriate records by 2025. With 60% of care providers still paper-based or partly digital, this is a rapidly growing market. “Our technology will help provide local care providers with a data-driven and joined-up approach that has a clear audit trail. This will allow care providers more time to focus on providing quality care, therefore ultimately improving childcare. “The Alacrity Programme has helped us to become investor ready so that we can secure the funding needed to scale our operation but what we are really excited about is being able to access the knowledge and experience of our investors, particularly Darryl who has founded, scaled and exited similar tech businesses.” Lead investor Mr Morton of Summit Venture said: “The child social care market is under-served by quality care management software systems. In a short space of time, the team at Lumin have already developed a core system and have road-tested this with a number of industry partners, and now, with the financial backing from this investment round, are poised to develop the software further and help to raise standards within the sector. It is a really exciting opportunity to be involved with.” Adam Beveridge of SFC Capital said: “One of the biggest challenges for any start-up is securing initial funding. It is credit to the team at Lumin and their commitment to developing innovative software that tackles real-life industry problems, that this pre-seed round has been so successful. We’re pleased to be adding them to our investment portfolio of over 400 start-ups and look forward to supporting them alongside the Development Bank and Darryl as our co-investors.” Hannah Mallen, an investment executive with the Development Bank of Wales, said: “This is a dynamic and enthusiastic team that share a commitment to making a real difference. There is a clear market for Lumin’s people-focussed digital solution as child social care providers recognise how emerging technologies enable early intervention, risk assessment, and improved decision-making in child welfare. We’re delighted to be investing alongside SFC and using our Wales Angel Co-Investment Fund to add real fire power to the investment by Darryl and the syndicate of business angels.”
Sicily’s ‘scattered hotels’ offer new hope to the island’s hospitality industry
Sarah Johnson
“There’s this building, the one behind it and the one with the balcony over there,” says Michele Bitetti, standing on aterrazzain the Sicilian town of Ragusa. He’s pointing out various parts of his hotel, the Giardino sul Duomo, to monocle – which might not sound like a particularly challenging task, except that this is analbergo diffuso(“scattered hotel”). That means the hotel’s 16 rooms are dotted around this beautiful neighbourhood. Ten years ago, the buildings that now house them were abandoned, symptoms of a depopulation trend that has hollowed out communities across theBel Paese– a consequence of mass emigration, declining work opportunities and a plummeting birth rate.In Sicily, these factors have dramatically converged and entire villages in the interior of the Mediterranean’s largest island have been boarded up. In the region’s more prosperous coastal areas, piecemeal losses have led to scatterings of abandoned buildings, giving towns a gap-toothed look. This was the case in Ragusa, many of whose citizens had left the old town (known as Ibla) either for the new suburbs that climb vertiginously up the opposite hill or for a new life across the ocean. At around the same time that Giancarlo dall’Ara, a young hospitality consultant from northwestern Italy, devised thealbergo diffusoconcept as a way of reviving tourism in the Friuli-Venezia-Giulia region, the regional government passed a law that provided funding and tax breaks to anyone starting a business in Ragusa or Siracusa.Swimming pool at an ‘albergho diffuso’Ragusa’s new townSicilian trafficMichele BitettiThis is what enabled Bitetti and his family to begin developing some buildings around an ancient garden into Giardino sul Duomo. Neighbours were initially resistant, wary of the effect that an influx of tourists might have on that perennial urban issue of parking. But, as Bitetti puts it, “Now they are grateful because we have renovated their neighbourhood and their houses are worth something.” For tourists attracted to the autonomy of private rentals, but who still appreciate the service provided by more traditional hotels, thealbergo diffusooffers a middle way. “If people start to come back and those who already live here begin to renovate their homes, the story changes,” says Bitetti. “It’s a virtuous circle.” There are currently about 150alberghi diffusiin Italy. At a time when hundreds of communities are facing extinction due to depopulation, such businesses are breathing new life into these beautiful villages.
All puffed out: Milan’s new smoking laws cause a stir
Michael Brown
Sometimes over a drink with friends in Milan, both Italian and expat, conversation will turn to the “elasticity” of rules in theBel Paese, a stretchiness comprising two distinct layers. The top one involves the definition of what the rule is in the first place: in Italy, it turns out that almost everything operates in a grey area, rather than being a clearly defined, hard-and-fast ordinance. A rule can be interpreted diversely according to whoever happens to be in charge that day, based on things such as whim or emotion. Almost everything, it turns out, is negotiable.Once you’ve got over the hurdle of defining the law, there’s the second layer of whether you’re going to obey it, based largely on the calculation of how much chance there is of enforcement. A case in point? Everyone knows you’re not technically allowed to double park but, listen, you had to take your elderly grandparent to a doctor’s appointment and what kind of a cold-hearted traffic cop would you be to not understand that, anyway? As long as you put your hazard lights on, Milan is a forgiving place.Which is why I had to chuckle when earlier this year a friend from Argentina sent me a link to an article in one of the South American nation’s daily’s,Página 12, with the headline, “Milan bans smoking in open-air spaces”. From a public relations point of view, the fact that the news had travelled thousands of kilometres meant the announcement was already doing its job.The “ban” (note the quotation marks here) came into force at the start of this year and is a hardening of a law from 2021 restricting smoking in some public spaces. According to the new legislation, you can no longer smoke in any public areas, including the outdoor seating areas of bars and cafés, and on the street, if you can’t be more than 10 metres away from someone else. Failure to abide by the rules can lead to a fine of €40 to €240. But according to one report, in the first month only about 20 people had been fined, with police preferring “education” instead.Skip forward to early spring and people are still smoking in bars and lighting up after they alight the Frecciarossa at Central Station. And I’m still making zigzags on pavements to avoid plumes of smoke on my morning runs. Trying to cut down on small-particle pollution in a city that often has very poor air quality is a noble cause. But I’m yet to see a billboard advert, strategically placed no-smoking sign or proactive enforcement to make me think that this is anything more than another chance for Italians to assess the malleability of the law. Up in smoke? Quite literally.About the writerStocker is Monocle’s Europe editor at large, based in Milan since 2020. A law in his current hometown requires locals to smile constantly; he’s rarely in danger of breaking it.Want more stories like these in your inbox?Sign up to Monocle’s email newsletters to stay on top of news and opinion, plus the latest from the magazine, radio, film and shop.Your EmailSubscribe
My Investments Are Set To Generate $738,311 in Annual Distributions
Michael Smith
Alacrity Foundation spinout tech firm Lumin Solutions in equity fundraise boost
Sicily’s ‘scattered hotels’ offer new hope to the island’s hospitality industry
Sarah Johnson
All puffed out: Milan’s new smoking laws cause a stir
Michael Brown
Quickline’s Project Gigabit rolls out to additional 6,000 homes and businesses
Three beautiful new hotels to unwind in: From a homage to Palm Springs on Ibiza to a striking hotel in Amsterdam
Emily Williams
'Milestone' performance for Bristol tech company despite market challenges
Google axes jobs as it looks to save money across Android, Pixel and Chrome teams
I Have 8 Credit Cards – Am I Keeping Too Many or Should I Close Some?
Michael Miller
Raspberry Pi's profits halved in 2024 as stock price tumbles
With $1m in Retirement Accounts, Should I Pay Off The 2.75% Mortgage or Invest The Cash?
David Smith
Trying to decide how to handle a large mortgage, whether through a balance or high interest rate, is something far too many people are trying to decide right now. As a home is generally someone’s biggest monthly expense, anything that can be done to minimize costs sounds ideal. nextstayCCSettingsOffArabicChineseEnglishFrenchGermanHindiPortugueseSpanishFont ColorwhiteFont Opacity100%Font Size100%Font FamilyArialText ShadownoneBackground ColorblackBackground Opacity50%Window ColorblackWindow Opacity0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%200%175%150%125%100%75%50%ArialGeorgiaGaramondCourier NewTahomaTimes New RomanTrebuchet MSVerdanaNoneRaisedDepressedUniformDrop ShadowWhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%-->-->Key PointsNo question, paying off a mortgage is something many people are considering right now.The hope is that you can find a smarter way to invest money than paying off a mortgage early.Given this Redditor’s low interest with their mortgage, paying off the mortgage isn’t a sound idea.Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; learn more here.(Sponsor)-->-->Unsurprisingly, one Redditor posting in r/DaveRamsey is considering whether or not they should continue with their 2.75% mortgage or pay it off. What makes this so unsurprising is the thought of how many different families are having this same conversation right now. Mortgage Strategy AdviceFor this Redditor, they are looking at a scenario where they have a 2.75% mortgage with approximately $500,000 left on the balance. This is equivalent to a $3,400 monthly payment on a house that is currently worth around $850,000. Having bought the house seven years ago for $715,000, this isn’t a ton of growth, given what other areas of the country have done. This fact aside, the family has no other debt and has around $1 million sitting in retirement and non-retirement accounts. They also have $100,000 invested in 529 accounts, and around $40,000 in cash. With a household income of around $260,000 before taxes, the family doesn’t appear to be in dire straits. This said, in their early 40s, it’s not impossible to think that they might want to figure out how to reduce some of their expenses. As a result, they are seriously considering either paying off the mortgage balance entirely or in small chunks. For the latter consideration, they have thought of paying an additional $5,000 twice a year. However, the Redditor and their family also know that having at least half of their net worth tied up in a non-liquid asset isn’t the best idea, especially when you consider their mortgage rate is really attractive. With no other debt in the family and having listened to Dave Ramsey’s advice before, they really want to know if paying off the mortgage is the smart financial play. The Math Has to Make SenseIf the Redditor were in a situation where they had a much higher interest rate on their mortgage, this conversation might be entirely different. With a now-dreamy 2.75% interest rate, it’s hard to make any argument in favor of paying off the mortgage right now, no matter what the Dave Ramsey devotees will say. Given what the house has appreciated in seven years, the best thing to do is to keep the $1 million in investments. The hope is that over the next 10 years, this money can grow conservatively to close to $1.79 million at 6% annually. If the Redditor gets even more aggressive, they can earn even more. Where the math can get more interesting is when the Redditor takes the additional $10,000 they might have used as extra payments and instead puts this money into a high-yield savings account. With interest levels hovering between 3.5% (Capital One) and 4.30% (EverBank), over the next ten years, you’re talking about earning around $23,128 in interest at a 3.75% interest rate.This number has to be weighed against how much of the mortgage principal and interest they will be paying off using the $10,000 instead to make payments. The Best Possible AdviceFor now, the Redditor should absolutely maintain their 2.75% mortgage and keep paying as they have for the last seven years. The best scenario is to keep investing cash in a diversified portfolio that is going to average better returns than the home value will increase. They already have $40,000 in cash, so there doesn’t need to be a ton of buildup for an emergency fund, so there is more money available to put toward long-term financial goals. If they are already making a good return on the current $1 million portfolio, it stands to reason they could add the $10,000 in additional mortgage payments they are considering making every year. The extra interest in a high-yield savings account isn’t going to change their lifestyle, but paying off the mortgage faster would. This is a good opportunity to consult a financial advisor if they haven’t done so, to help model out various economic scenarios. A fiduciary advisor is going to be the right person who can help determine if they should pay off the mortgage or keep going based on the family’s individual financial and retirement goals, and these goals are different for everyone. Get Ready To Retire (Sponsored)Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.Here’s how it works:1. Answer SmartAsset advisor match quiz2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future.
Four new openings for an outstanding summer on the Mediterranean
Jennifer Jones
Food&DrinkLa BouillabaisseSaint-TropezWhen you think of Saint-Tropez, the glitzy party hot spots along Pampelonne beach are what probably come to mind – Nikki Beach, say, with its lively pool area, bustling bar and pumping DJ sets. But to the west of southern France’s quintessential summer destination lies what many of the area’s residents consider to be the town’s real soul: the Plage de la Bouillabaisse. Once known as Saint-Tropez’splage de la mode, the private beach was a favourite stamping ground of the 1960s jet set, with the likes of actress Jane Fonda andnouvelle vaguefilmmaker François Truffaut holidaying on its white sands. Dining on custom-designed director’s chairsLa Bouillabaisse remains a go-to for many in this part of the world – among them Ludovic Moutet, who runs the laid-back, century-old club that gave this beach its name. “La Bouillabaisse brings together the people of Saint-Tropez, whether they own a villa in the surrounding hills or are just back here for their summer holidays,” he says. “These are the folks who loyally return every year to their table, parasol and sunbed. We’re far away from the DJ sets and champagne-fuelled celebrations that you find elsewhere in the area.”When we join Moutet for a mid-morning coffee on the ocean-facing terrace, he is greeting a steady stream of evenly tanned beachgoers flocking to their chosen lounger for a day under the Mediterranean sun. “You come mainly to come back,” he says. The same holds true for the staff: many of them have worked here for years and know the regulars by name, as well as whether or not they take a slice of lemon in their sparkling water. This summer, La Bouillabaisse reopens with a refreshed look, courtesy of Marseille- and Paris-based agency Mews, which has dreamt up a nostalgia-tinged décor complete with a seashell-inspired bar by Bella Hunt&ddc and custom-designed director’s chairs in the dining area.La Bouillabaisse’s bar menuSundowners“We were working in a territory between memory and reinvention,” says creative director Laëtitia Toulouse, whose team took a deep dive into the club’s archives for the redesign. “Our aim was to restore the venue’s deep-rooted identity, while anchoring it in the present – and looking ahead to its future too.” Of course, no beach club would be complete without a place in which to while away the hours and soak up some rays. As we enjoy the scene from the shade, sunseekers stretch out on the loungers lining the beach, while other guests retreat beneath the pastel-blue-and-white-striped parasols.And because swimming and lounging are sure to work up an appetite, the food menu has been rethought, with Julien Sebbag serving up sunny, sharing-friendly specialities from across the Mediterranean. Think grilled aubergine croquettes, broccoli guacamole and stracciatella-drizzled confit red peppers. The self-taught chef is best known for his meat-free options, having made a name for himself with the all-veggie Créatures on the rooftop of Paris’s Galeries Lafayette, as well as picking up plaudits for his omelette-filled challahs athis first-arrondissement sandwich spot, Micho.Summer uncorkedMixed to perfectionHere he has integrated his vegetable-focused menu with a range of seafood classics, such as fried sardines and sole meunière. It’s a nod to La Bouillabaisse’s origins as a restaurant in the early 1900s, long before it welcomed beachgoers with the addition ofcabine de bainsin 1932. Back then, the spot churned out grilled fish, langoustines and, yes, bouillabaisse for hungry holidaymakers and local fishermen alike. Today, La Bouillabaisse is a place to soak up the ambience of the coast: the only soundtrack playing is the clinking of cutlery and the gentle roll of the waves.labouillabaisseplage.frFood&DrinkOli BarCadaquésWhen Catalan chef Vito Oliva opened Talla in 2012, the people of Cadaqués – a town about an hour and a half by car from the southern French city of Perpignan and two hours from Barcelona – didn’t immediately take to his food. “Back then, the area was just beginning to transform,” he tells Monocle. The rugged fishing town was once a haunt of Salvador Dalí and frequented by Pablo Picasso and Joan Miró. It was a place where people were more accustomed to eating the aquatic bounty found along the town’s rocky promontory.Now Oliva has opened Oli Bar with Italian marketing professional Valentina Audisio and Catalan chef Monty Aguiló, who hatched their plan after meeting in London while working for the hospitality group of Extremaduran chef-restaurateur José Pizarro. Oliva and Aguiló had worked in Spain, Germany and Australia over the previous two decades before they cooked up the idea for Talla in Cadaqués.Oli Bar operates from inside a converted oil mill. It serves British-inspiredplatillosincluding scotch eggs and Guinness cake, as well as dishes such as Basque-style seabass and game tartare with Mallorcansobrasadasausage.The wine list is equally eclectic. Drinkers can choose a carafe of Galician albariño, German riesling or a Piedmontese nebbiolo. And instead of Catalanpa amb tomàquet, at Oli Bar you’ll find fresh house focaccia studded with black olives and slathered in irresistible smoked butter from Barcelona-based dairy Rooftop Smokehouse. “When we lived in London, we used to love sitting at the counter at a Thai restaurant therecalled Kiln,” says Audisio. That’s why the stainless-steel bar that encircles an open kitchen is the heart of the dining room.olibarcadaques.comFood&DrinkRadical FarmhouseLiguriaTake a short drive uphill from the pebble beach at Lavagna in Italy’s Liguria region and you’ll soon find yourself in another world. From the gates of Radical Farmhouse, a path winds towards a red stucco villa, in front of which stand tables shaded by a pergola and a canopy of olive trees. From here stretches a smallholding where everything from cherry trees, beans and artichokes to wild strawberries and fragrant herbs is grown.Radical Farmhouse is the new project from Caterina Ravano, who hails from Lugano in Switzerland, and her partner, Segundo Achinelli, from Buenos Aires. “There was a gap in the market,” says Ravano, who launched the business in April. Its farm kitchen is fully vegetarian and sources ingredients almost entirely from the surrounding land. “There weren’t many places like this in Liguria. Our central message is the value of relatively simple food, sharing and understanding the land.”The pair are taking their fledgling farm business step by step as its popularity spreads through word of mouth. There are plans to add accommodation at some point but, for now, olive trees must be pruned and weekend guests be taken care of. “People come here to be outside and in the garden,” says Ravano. “That’s the character of the place.”radicalfarm.bioHospitalityHotel CorazónMallorcaMallorca’s 15-room Hotel Corazón sits on the brow of the rocky Tramuntana, beside a wiggly road that courses down to the hippy- and-rich village of Deià. It is now welcoming guests for its third season, under the watchful eyes of co-owners Kate Bellm and Edgar Lopez. The former is a fashion photographer who has shot for publications such asVogue(think siren-like naked women swimming in the ocean). She and Lopez clearly know how topull a cool crowd. Their house on the hill does away with any primness or need to be on your best behaviour. Instead, it’s a fun spot where models, musicians and other creatives come to holiday.For this summer, the duo have redesigned their dining spaces, including the sunny terrace, with the help of London-based designer and Ballearic regular Tatjana von Stein. Gone are the traditional wooden chairs; in their place are cocooning, circular benches and red-marble tables made by a local stone mason.The food is also a big draw. The hotel’s head chef, Eliza Parchanska, makes good use of produce grown by the farmer in residence, Emma Galea. It’s a partnership that results in bowls of flavoursome salads, dishes strewn with edible flowers and a cheese brioche that will linger in your dreams for days.hotelcorazon.com
UK technology secretary asks AI ChatGPT about businesses and podcasts
Peter Kyle, the UK's technology secretary, has been utilising ChatGPT, an OpenAI chatbot tool, to ask questions about UK businesses, artificial intelligence (AI), and even podcast recommendations, according to a Freedom of Information (FoI) request submitted by New Scientist magazine. The magazine revealed that Kyle, who heads the Department of Science, Innovation and Technology (DSIT), has regularly used the chatbot in his professional capacity, as reported by City AM. Questions posed by Kyle included why UK small businesses are slow to adopt AI, which podcasts he should appear on to reach a broad audience, and definitions of terms such as antimatter, quantum, and digital inclusion. One data expert suggested to the magazine that DSIT's disclosure could set a "precedent" across government, expressing surprise at the release of the information. Initially, the department declined the FoI request, stating that Kyle's ChatGPT history contained personal prompts and responses. However, the magazine resubmitted the query, requesting only the prompts and responses made in an official capacity. This revelation comes as Prime Minister Sir Keir Starmer delivered a speech on civil service reform, announcing plans to abolish NHS England and emphasising the potential for wider use of AI within government as a "golden opportunity". Sir Keir Starmer has highlighted the potential for digital reform within government, suggesting it could lead to significant savings: "If we push forward with digital reform of government – and we are going to do that – we can make massive savings, £45bn savings in efficiency." The Prime Minister has also advocated for a new approach to government work, stating: "No person's substantive time should be spent on a task where digital or AI can do it better, quicker and to the same high quality and standard." Peter Kyle, meanwhile, has praised the capabilities of technology, sharing with PoliticsHome his use of ChatGPT: "I used ChatGPT to try and understand the broader context where an innovation came from, the people who developed it, the organisations behind them." He further commented on the utility of AI as a learning tool: "ChatGPT is fantastically good, and where there are things that you really struggle to understand in depth, ChatGPT can be a very good tutor for it." In a previous statement to The Times, the minister expressed his views on AI's educational benefits: "AI can tutor you. So for example, I can go into a chatbot and say 'What is quantum mechanics and what are its applications?', and it can come up with a description, it will tutor you." A Freedom of Information (FoI) response shared with New Scientist revealed ChatGPT's insights on why small and medium-sized businesses may be hesitant to adopt AI, listing factors such as "Limited Awareness and Understanding", "Regulatory and Ethical Concerns" and "Lack of Government or Institutional Support". ChatGPT highlighted the challenges faced by small and medium-sized enterprises (SMEs) in adopting new technologies: "While the UK government has launched initiatives to encourage AI adoption, many SMBs are unaware of these programs or find them difficult to navigate." The AI also noted that "Compliance with data protection laws, such as GDPR [a data privacy law], can be a significant hurdle. SMBs may worry about legal and ethical issues associated with using AI." When queried about suitable podcasts for the Secretary of State for Science, Innovation and Technology to appear on, to engage a broader audience relevant to his ministerial duties, ChatGPT recommended The Infinite Monkey Cage and The Naked Scientists, citing their listener numbers. A government spokesperson offered insight into the minister's practices: "As the Cabinet Minister responsible for AI, the secretary of state does make use of this technology. ". The statement continued, emphasizing the consultative approach taken: "This does not substitute comprehensive advice he routinely receives from officials."
Baby Boomers On Social Security Have Just Days To Pay Attention To This
Jane Miller
-->-->Key PointsIn just a few weeks, the Bureau of Labor Statistics will release key inflation data.That data will come into play in the context of next year’s Social Security COLA.Current estimates are calling for a 2.7% COLA in 2026, but if inflation picks up, that number could increase.Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; learn more here.(Sponsor)-->-->nextstayCCSettingsOffArabicChineseEnglishFrenchGermanHindiPortugueseSpanishFont ColorwhiteFont Opacity100%Font Size100%Font FamilyArialText ShadownoneBackground ColorblackBackground Opacity50%Window ColorblackWindow Opacity0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%200%175%150%125%100%75%50%ArialGeorgiaGaramondCourier NewTahomaTimes New RomanTrebuchet MSVerdanaNoneRaisedDepressedUniformDrop ShadowWhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%We’re reaching a point during the year when it’s (sadly) time to say goodbye to summer and gear up for fall. For older Americans, this is a very crucial time of the year.Not only is fall when Medicare’s open enrollment period takes place, but it’s also when the Social Security Administration announces a cost-of-living adjustment, or COLA, for 2026.Many baby boomers on Social Security are hoping that 2026’s COLA will be more generous than the 2.5% COLA they received at the start of the current year. And initial estimates are saying that may be the case.The nonpartisan Senior Citizens League is projecting that 2026’s Social Security COLA will amount to 2.7% based on the inflation readings that have been released to date.Meanwhile, in just a couple of weeks, the Bureau of Labor Statistics is set to release another set of inflation data. And it could have a huge impact on next year’s Social Security COLA.How Social Security COLAs are calculatedThe purpose of Social Security COLAs is to make sure seniors don’t lose out on buying power due to inflation, which is a natural and expected part of the economy.Social Security COLAs are calculated on a specific index called the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). When there’s an increase in the CPI-W from one year to the next year, Social Security benefits are eligible for an increase.Specifically, Social Security COLAs are based on CPI-W readings during the months of July, August, and September.July’s reading has already been released. However, August’s reading is set to be released on September 11. That data should give experts a clue as to what Social Security COLA baby boomers can expect in the new year.There’s still the possibility of a larger COLA in 2026A 2.7% Social Security COLA in 2026 would be an improvement over 2025’s raise. And retirees collecting benefits should know that it’s possible that next year’s COLA will end up being higher than 2.7%.However, that’s not necessarily a good thing. Since COLAs are tied directly to inflation, a larger one simply means that costs have gone up more.Think about it this way. Let’s say your local movie theater runs a promotion where you get $2 off of tickets if you’re 65 and older. But let’s say that same theater also raises ticket prices by $2.50.At the end of the day, you’re not going to benefit, because even though you’re getting a generous promotion, it’s not enough to offset the higher cost of seeing a movie.Social Security COLAs have long failed to actually keep pace with inflation, even though that’s their purpose. So if there ends up being a larger COLA in 2026, it will come at the expense of an uptick in inflation. And chances are, that COLA also won’t be enough to help seniors keep up with their costs.An official COLA announcement should come out in mid-October. Until then, stay tuned for September’s inflation data so you can get some more clues as to what to expect in 2026.If You’ve Been Thinking About Retirement, Pay Attention (sponsor)Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance, and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor. Here’s how:Answer a Few Simple Questions. Get Matched with Vetted Advisors Choose Your Fit Why wait? Start building the retirement you’ve always dreamed of.Get started today! (sponsor)
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