BC FINANCE
Saved by @SteveeRogerr

There is literally too much to unpack here.

Seems like the AGs job is to constantly make recommendations that are ignored. How ironic is it that the Ministry that is responsible for distributions to the poor is also the one that has some of the glaring 'irregularities'.

 "Nowhere was the picture more stark than in Karl Samuda’s MLSS, which the auditor general argued has been persistent in ignoring recommendations over the years to improve its stewardship of public funds."

That ministry alone accounted for unresolved monetary risks of 3.3 billion
173 million in transactions could not be verified because of inadequate supporting documents.

173 million..

Tardiness...

Disregard for it's own internal audit..

Significant internal control deficiences....

Lack of appetite to fix the problems flagged as far back as 2011!!!
This was already known but

"In a damning 2018 audit, Monroe Ellis found that in 2017, without permission, the NIF spent 27 million to purchase shares owned by the spouse of a senior executive."
Uncovered alleged 600 million fraud in 2018...

50 million in payments made to companies without valid contracts....

That brings total taxpayer exposure to 35 billion...
Apparently a senior official in the government said "I agree that there is a problem with that".

But get this. IN THE LAST 15 YEARS NONE OF THE PAC ANNUAL REPORTS HAVE BEEN DEBATED IN PARLIAMNET.
If this is not deeply troubling to you as a Jamaican, then you do not have your country's best interests at heart.

Billions of dollars of our taxpayer dollars keep on being burnt in the dark over decades and we just, keep operating so???

Our standards are low.
Why is it that people are not being fired and charged each time the clearly hard working AG "uncovers" these irregularities?

Successive governments have spoken about accountability and corruption but I mean, it's either you can't fix it or you don't want to fix it!
Feel a way still. Because the most powerful people (us the citizens) allow these releases to be managed and forgotten constantly and noone is held accountable, hardly.

How the Ministry responsible for the poor fi a "lose" "miss" so much money bredda? And thousands...
....of people from children to great grands live on our streets?

How this ministry fi have such issues wid money just so (BILLIONS) when poor people out deh affi a starve beg and steal fi survive daily.

Yah tell mi seh nobody wide actual power to stimulate change cah empathize.
Kingston, the glorious capital city is riddled with poor people literally living on the streets. Bellevue can't even managed the amount of people that need the help, nurses and doctors did a worry about jobs in a pandemic recently, and yah tell mi seh people with power...
....know seh billions of dollars a go missing and a just business as usual?

Unnu think a Ms Ivelyn inna d ghetto a rob dem BILLIONS a dollar yah?

Accountability

As a youth weh know seh WHOLE HEAP a families a live offa 1 stall, couple hundred dollar a day. This hurt mi.
Every report the AG publish a billions gone. Billions in gas evaporate, man a run the largest bus company in Jamaica inna book and pages a disappear, man a rob from University.

Den unnu come smile up inna man face a trick d hungry fi votes and start the cycle over again.
Tek a 3 picture a hand out 10k worth a food but a cut wid billions. Den look pan d same ghetto youth weh get ketch a sell weed fi live and call him 'criminal'.

If u can't afford certain security and Jamaica a man goodly come eat u (not literally). But d man weh can change....
...things govern enuh.

Them have the full security system package. The finest German suspension so the road dem feel nice, the best food so nobody nah starve, 4 man strap a secure him inna a unmarked vehicle so nobody cah rush.

No incentive.
Some of unnu need to c d f***ry and call it out and not turn a blind eye. But then again, why fight a system that benefits u.

Wi will gwaan lose people daily to the violence unnu help create.

Peace. Work time.

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1) Rule of 72
No. of yrs required to double your money at a given rate, U just divide 72 by interest rate
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At 6% rate, it will take 12 yrs
At 9% rate, it will take 8 yrs

3) Rule of 144

No. of years required to, quadruple your money at a given rate, U just divide 144 by interest rate.

For eg, if U want to know how long it will take to quadruple your money at 12% interest, divide 144 by 12 and get 12 yrs

At a 6% interest rate, it will take 24yrs

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5) 4% Rule for Financial Freedom

Corpus Reqd- 25*Annual Expenses

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Put 50% into fixed income & 50% into equity.

Withdraw 4% every yr, i.e.5 lac.

This rule works for 96% of the time in 30 yr period
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