Daily – The Prefectures

Does Kamala Harris Support Student Loans Forgiveness?

January 9, 2022 Daily Comments Off

Here’s what Vice President Kamala Harris could mean for your student loans.
Here’s what you need to know.

Student Loans
Since last year, student loan borrowers have been wondering where President Joe Biden stands on student loan cancellation. They’ve asked questions like:

Will Biden cancel your student loans?
Will Biden extend student loan relief?
Will I get student loan forgiveness?

With congressional leaders focsued on pressuring Biden to enact wide-scale student loan forgiveness, there’s another principal who also has important opinions on student loans. Harris, a former U.S. senator (D-CA) and presidential candidate, has proposed several reforms to student loans and higher education. Let’s explore. (What Biden’s last student loan relief means for your student loans).

Student loans: student loan cancellation up to $20,000
Is student debt cancellation next? As a presidential candidate, Harris proposed to cancel up to $20,000 of student loan debt. Under Harris’ plan, student loan forgiveness would not be available to everyone. Rather, Harris sought to make student loan forgiveness available to certain borrowers. For example, borrowers who received Pell Grants, which are available to low-income students to help pay for college, could receive student loan forgiveness if they started and ran a business for at least three years in a disadvantaged community. The goal was to help spur economic stimulus in disadvantaged opportunities, encourage entrepreneurship, and to forgive student loans. (Biden extended student loan relief, but advocates really want student loan cancellation).

Student loan cancellation: not for everyone
As a moderate U.S. senator and presidential candidate, Harris did not support cancellation of all student loans. Sen. Bernie Sanders (I-VT) proposed cancellation of all $1.7 trillion of student loans, including all private and federal student loan debt. That said, Harris, like Biden, supports up to $10,000 of student loan debt cancellation. (Student loan borrowers will get $15 billion of student loan cancellation). As vice president, Harris has said that the student loan crisis “is real” and recognizes the need to find solutions. Similarly, while Senate Majority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA) proposed student loan forgiveness up to $50,000, they too don’t support total cancellation of student loans. Under their plan, Schumer and Warren would limit student loan forgiveness only to federal student loans and for borrowers who earn up to $125,000 annually. (Here’s who qualifies for student loan forgiveness right now).

Student loans: Harris supports tuition-free college
One way Harris has proposed to lessen the burden of student loans is to make two-year college tuition-free. Specifically, Harris has supported:

tuition-free college at two-year and four-year public colleges and universities for borrowers who earn up to $125,000 in annual income; and
doubling the maximum Pell Grant award.

Sanders and Warren both championed tuition-free college in the U.S. Senate and on the presidential campaign trail. Like wide-scale student loan cancellation, Congress has yet to pass tuition-free college. (If you’re waiting for student loan forgiveness, do this).

Harris also would cancel student loans for these student loan borrowers
Harris, like Biden, has advocated for cancelling student loan debt for student loan borrowers at at Historically Black Colleges and Universities (HCBU’s) and Minority-Serving Institutions (MSI’s). “In relation to the history of HBCUs, [students] decide to take on a profession of service, which often does not pay as well as if they go into the private sector and do other things,” Harris said. “So for those students who come out and have jobs that pay less than $125,000, student-loan debt will also be forgiven.”
Over the coming months and year, Harris, with Biden, could play a key role to shape the future of student loans, student loan forgiveness and student loan relief. The most recent extension of student loan relief for 90 days is one example. However, student loan relief won’t last forever. It’s also possible that Congress won’t pass legislation that reforms student loans. Until then, make sure you understand your options for student loan repayment.
Here are some popular ways to pay off student loans faster:

Student loan refinancing (lower interest rate + lower payment)
Income-driven repayment plans (lower payment)
Public service loan forgiveness (student loan forgiveness)

Student Loans: Related Reading
Is student debt cancellation next?
Student loan borrowers will get $15 billion of student loan cancellation
Do this while waiting for student loan forgiveness
Biden extended student loan relief, but advocates really want student loan cancellation […]

Financial Stress is REAL. Here is what to do about it…

January 9, 2022 Daily Comments Off

Are you feeling stress these days? Perhaps financial stress? You’re not alone. Some 55% of women, ages 30 to 55, with minor kids and household incomes less than $60,000 a year, report “high” or overwhelming” levels of financial stress. They aren’t the only ones experiencing high or overwhelming stress. So what is causing this stress?
Causes of financial stress
In his 2020 blog post, Jim Yih, a Canadian Financial Advisor highlighted seven causes in his blog post, 7 Causes of Financial Stress:

High debt levels.
Low savings rates
Volatile Stock markets
Real estate won’t be our financial savior
Demographics means more fear
The financial marketplace is increasingly complex
No formal education on money

Let’s examine debt, savings, and education further. Many people have the best of intentions to pay the debt. Unfortunately, many of those intentions were clouded by short-term desires or calamities. After the debt was added, then a breadwinner may have lost a job or a payment was missed while juggling other life issues.

Then ‘wham o!’, the interest rate doubled or even tripled overnight. An emergency fund seems like a nice idea but where would the funds for that come from?
Start saving into your retirement plan

If you are like 50% of Americans with workplace retirement plans, you aren’t saving into it. If you are participating and your company offers a match, you’re not getting the full match. You may have either taken a loan on your 401(k) or depleted it and suffered the 10% penalty when a short-term need arose.

There is no formal education in the schools about money. There is a hope by some policymakers and voter, that your parents had good financial saving and spending habits, was an expert in comprehending disability and life insurance, and actuarial retirement calculations. Yeah right!

Who’s teaching you about money? Herein lies the root of the problem. There is little formal financial education in the school system. There is very little offered in the workplace.
So many people have to learn from friends or family but that creates its own set of problems because many of them don’t have the knowledge, ability, or resources to teach others about money.
Financial stress is all too common in our society and we need to do something about it. The starting point is a little knowledge but true success comes from action. It comes from taking control of your financial affairs and developing good financial habits.
A financial stress reliever
While financial education is great, it is time-consuming and doesn’t in itself provide a calming voice for your financial stress if it comes from reading books. If you are getting your education from the media, they may have conflicts of interest and are not held to the same standard as a financial professional registered with the SEC or FINRA.
Moreover, what financial education should you start with?
If you are like most people you need an accountability coach and maybe someone to help you figure out how to pay down the debt. A lack of a sense of control is a primary factor for those employees reporting high or overwhelming financial stress. A CERTIFIED FINANCIAL PLANNER™ professional (CFP®) can help you get control.
Look for a CFP® professional who has a breadth of knowledge in financial fundamentals like setting up a cash reserve, developing a spending plan to address your debt.
If you are one of those stressed-out moms, they can help you address college planning and choosing a guardian for your child should something happen to you. This designation is one of a few accredited designations highlighted on the FINRA website.
f you are one of those stressed-out moms, they can help you address college planning and choosing a guardian for your child should something happen to you. This designation is one of a few accredited designations highlighted on the FINRA website.
A CFP® to combat financial stress
A CFP® professional takes an oath to keep your financial interests ahead of their own. All CFP® professionals aren’t clones so you should spend some time learning about their business practices and themselves.
For example, some charge a flat fee for all of their services, some charge an hourly rate, and some a fee for planning and a fee for monies you invest with them. Look for one who is empathetic and understands behavioral finance!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. […]

Have you eaten this type of Salmon?

January 9, 2022 Daily Comments Off

You know salmon is good for you—but, some kinds are healthier than others. Here’s how five registered dietitians rate different types of salmon for your health.The health benefits of salmonWhether it tops your sushi roll or your bagel, salmon is one of the healthiest animal proteins you can put on your plate. This fish, loaded with healthy oils, delivers a range of essential nutrients like vitamin D, vitamin B12, and selenium.Also, gram for gram, salmon packs more omega-3 than many of its underwater peers. Why is that a big deal? “Omega-3 fatty acids are essential fatty acids, meaning our body cannot make them, and we rely on [getting them through] our diet,” explains Rebecca Kerkenbush, MS, RD-AP, CSG, CD, FAND, who serves as president of the Wisconsin Academy of Nutrition and Dietetics.The benefits of these so-called “healthy fats” are substantial. Research published in The Journal of Clinical Investigation in 2021 suggests that omega-3s help lower the risk of heart disease.The study found that omega-3 fatty acids appear to trigger molecules that slow or stop inflammation. This may help prevent plaque build-up in our artery walls—a condition known as atherosclerosis.Still, omega-3s play critical roles throughout your body. As for the rest of the nutrients that salmon adds to your meal? Kerkenbush says a serving of salmon includes:protein that’s essential for growth, hormone balance, wound healing, and immune function.vitamin D that supports the immune, brain, and nervous system health while aiding in the body’s calcium absorption for great bones and teeth.B-vitamins that help convert food into energy, promote cell production and growth, and maintain healthy skin and hair.tryptophan, an essential amino acid that helps produce melatonin and serotonin—both which help regulate mood and sleep.How much salmon should I eat?“The [United States Department of Agriculture (USDA)] 2020 Dietary Guidelines recommends that Americans eat at least two to three servings of seafood—including salmon—each week to meet nutrient needs,” says registered dietitian Rima Kleiner, a spokesperson from Dish on Fish, a National Fisheries Institute program. A serving size is typically between three to four ounces, or the size of a checkbook.However, a USDA surveys show that only 10 percent of us are hitting this salmon recommendation. In fact, most people aren’t getting enough omega-3 fatty acids in general.While there’s no official daily intake recommendation set, experts advise that adults consume 250 to 500 milligrams daily—and up to 1,000 milligrams if you have a heart condition.(Feeling hungry? Here are some delicious fish recipes!)Which types of salmon are the healthiest?sergeyryzhov/Getty ImagesAs you’re practicing better omega-3 habits this year, there are some pointers to keep in mind when you’re shopping. “It’s important to differentiate how the salmon is raised to understand the differences nutritionally,” says registered dietitian Natalie Allen, a clinical assistant professor of biomedical sciences at Missouri State University.That’s because diet and habitat influence a fish’s nutritional profile—particularly farm-raised versus caught in the wild. Here’s how this registered dietitian says different types of salmon measure up so you can maximize the health benefits you put in your grocery cart.Wild salmon“Overall, wild salmon is superior nutritionally, but it’s also typically more expensive,” Allen explains. She says that wild varieties tend to have more minerals while farm-raised is higher in vitamin C, calories, and saturated fat—the type of fat we should be limiting in our diets.But the nutrients in fish depend on the waters through which they swim and the food sources they have access to. That’s why, on average, there are slight variations between wild-caught species.Wild Chinook salmonWild-caught chinook salmon, sometimes called “king salmon,” has the highest omega-3 fat content of commercially available species, says Mary Mosquera-Cochran, a registered dietitian at The Ohio State University Wexner Medical Center.This fattiness lends the fish heart-healthy benefits and a moist, buttery taste. But you can also expect a higher price tag compared to other wild species.A 100-gram portion of wild chinook salmon contains:179 calories3.1 grams of saturated fat2255 mg of omega-319.9 grams of proteinIt also packs more than half of our daily value of selenium, a trace mineral that plays an important role in maintaining reproductive health and thyroid function.Wild Sockeye salmon“Out of all the varieties, sockeye salmon is the highest in [vitamin] B12 due to its diet of plankton,” Mosquera-Cochran says.A vitamin B12 deficiency can wreak havoc throughout your body, affecting your heart, nervous system, oral health, and even balance.The deep-red sockeye salmon’s benefits can offer powerful combat against a vitamin B12 deficiency. A serving contains a whopping 130 percent of our daily vitamin B12 requirement, according to the USDA, as well as:153 calories1 gram of saturated fat1060 mg of omega-321.9 grams of proteinResearch published in Marine Drugs also found that sockeye salmon contains high levels of astaxanthin. This antioxidant gives the sockeye salmon its rich red flesh and is thought to protect our body’s nervous system.Wild Coho salmonAlso known as silver salmon, coho salmon are a medium-fatty variety with a milder texture and flavor. Like sockeye and chinook, a serving of wild coho has high levels of vitamin B12 and selenium, as well as:146 calories1.3 grams of saturated fat1317 mg of omega-321.6 grams of proteinWild Pink salmonPink salmon (also called “humpback salmon”) is the most abundant salmon species in the Pacific Ocean, according to the National Oceanic and Atmospheric Association (NOAA.) It’s also the most commercially available option.Pink salmon has a lower oil content that makes for a milder, lighter flavor—and it comes in pouches or cans, says Allen.While slightly lower in healthy fats than its counterparts, pink salmon offers high levels of selenium, vitamin B12, and vitamin B3. Also called niacin, vitamin B3 helps our body produce enough serotonin, a hormone that regulates how our brain cells communicate.A portion of pink salmon also contains:127 calories0.8 grams of saturated fat615 mg of omega-320.5 grams of proteinWild chum salmonWild chum salmon is the second most common variety available and, according to the Alaska Department of Fish and Game, it’s most often sold in cans or as smoked salmon products.It has lower fat content like pink salmon than other wild-caught species, which lends chum salmon its light, flaky texture. But a serving still far exceeds the amount of omega-3s experts recommend we get each day.A serving of wild chum salmon contains:120 calories0.84 grams of saturated fat706 mg of omega-320.1 grams of proteinFarmed salmon“Wild salmon swim between freshwater and the ocean consuming a natural diet of zooplankton and smaller fish,” says Alissa Rumsey, a Brooklyn-based dietitian and the author of Unapologetic Eating.But farmed salmon are typically raised in pens and fed fishmeal, fish oil, and other proteins that aren’t a part of their traditional diet in the wild. That’s why in general, wild-caught seafood species are more nutritious than their farmed counterparts.Still, most people aren’t getting enough servings of seafood to begin with, says registered dietitian nutritionist Lauren Moller-Seat at the University of Maryland St. Joseph Medical Center. “So, if you’re able, eating any type of salmon is better than nothing.”Atlantic salmonAtlantic salmon make up about 90 percent of the farmed salmon market, according to the Food and Agriculture Organization (FAO.) This is because it’s a protected species—so commercial fishing for Atlantic salmon is prohibited.While farmed Atlantic salmon tends to skew higher in calories and saturated fats than wild varieties, it also has very high omega-3 levels. According to the USDA, a 100-gram portion contains:208 calories3.05 grams of saturated fat2503 grams of omega-320.4 grams of proteinDoes eating salmon have any risks?mixetto/Getty ImagesWhether swimming in the wild or a farm environment, studies show that all types of salmon ingest some level of contaminants that can get passed onto our plate.However, an analysis published in the Journal of Nutrition suggests that the risk of contaminant exposure when eating salmon is offset by the benefits of getting enough omega-3s in our diet.That said, farmed salmon can contain certain pollutants, particularly polychlorinated biphenyls (PCBs.) These contaminants are associated with cancer and other health problems, Rumsey says.“With that in mind, wild fish may have more access to eating smaller fish that have ingested plastic pieces—and their chemicals—that are floating in the ocean,” adds Dana Hunnes, PhD, a senior dietitian at UCLA Medical Center.And more recent research indicates the levels of PCBs in farmed fish are in decline. A 2003 study conducted by the Environmental Working Group found PCB content five to 10 times greater in farmed fish than wild fish.Yet a 2020 study published in the journal Foods found that farmed Atlantic salmon actually had lower contaminant levels than its wild counterpart—suggesting an improvement in aquaculture practices and regulations over the last two decades.Salmon comes with a low mercury risk as well. “While larger fish like tuna or swordfish can be high in mercury, salmon, fortunately, doesn’t have that mercury build-up, so it continues to be a great seafood option,” Moller-Seat says.In fact, a joint report from the World Health Organization (WHO) and the FAO says that today, the most significant risk of eating seafood like salmon is not eating enough.How do I shop for different types of salmon?Rumsey recommends looking for salmon that originates out of Alaska, as the state adheres to strict sustainability standards.Beyond that, here’s what else to look for: “The most environmentally friendly salmon would be those that are wild and caught with a line-and-pole method,” Hunnes adds. Overfishing via industrial fishing methods contributes to population declines—and can threaten endangered or vulnerable species that get caught as bycatch.Seafoodwatch.org is a great resource to help you navigate which types of fish are most sustainable and safe.But from there, does it matter how you eat your salmon?Canned salmonThe exact nutritional content of a can of salmon will depend on its other ingredients—like if the fish is in water or oil and if there’s added salt. “But in general, canned salmon is just as nutritious as any other wild salmon,” Rumsey says. “And sometimes even more so.”For example, she says that canned salmon can contain higher calcium levels because the canning process softens the fish’s bones, so they’re edible.Smoked salmonAlexander Spatari/Getty ImagesOther forms of preserved salmon—like dried, cured, or smoked—can have higher concentrations of nutrients like vitamins and minerals than the fresh fish. At the same time, the macronutrients like fats stay the same, says Emily Clairmont, a registered dietitian with the University of Vermont’s Professional and Continuing Education.But there’s a catch. A serving of smoked salmon can contain almost a third of our daily recommended amount of sodium, according to the USDA.Raw or cooked?“Sushi-grade salmon has no regulation in the US,” Clairmont says. So if you’re looking to buy salmon to eat raw as sushi or sashimi, you want to make sure you work with a reputable fishmonger to ensure you’re getting a fresh, high quality, and safe product that’s free of dangerous parasites.Still, aside from personal preference, there’s not much benefit to eating salmon raw instead of cooked. “Cooking does not greatly alter the nutrition of salmon,” Allen says.The exception? Make sure to avoid frying or deep-frying your salmon, as this will increase its fat content and might burn off some nutrients. In fact, a study published in The Journal of Steroid Biochemistry and Molecular Biology found that fried salmon lost around 50 percent of its vitamin D content—whereas baked salmon lost none.Fresh or frozen salmon?While there aren’t studies comparing fresh and frozen salmon specifically, Clairmont says both are great options. “Based on the research of other frozen animal-based proteins, it’s assumed that there would be little to no difference nutritionally between fresh or frozen salmon filet.”Quality doesn’t suffer, either. Researchers at Oregon State University found that in blind taste tests, frozen salmon (and other fish) actually outperformed fresh options.Next, read what fish-eaters need to know about mercury in fish. And, if you’re looking to upgrade your wellness game this year, read 10 Easy Self-Care Swaps to Make in 2022. […]

Should I Pay Off My Mortgage?

January 9, 2022 Daily Comments Off

If you have a question like this one, send it in. I’ll tackle case studies that have educational value.

“I am anxious to pay off my mortgage since, with the current standard deduction, there is no advantage in claiming mortgage interest.
“My wife and I are retired. I am 72, with a pension along with Social Security, and have $850,000 in my IRA. I have a mortgage balance of $134,000. To get that after tax I would have to take a distribution of $185,000, which obviously will reduce my portfolio dramatically.
“Is this a good move? My return on investment with Fidelity has been 10-15 percent annually with a 60/40 mix of stock and bond funds.”
Michael, Missouri
Readers send in queries like this. I’m going to be answering the ones that illustrate tricky tax and investment decisions.
My answer to the Missourian:

Good move? Probably. Retirees should pay off their mortgages. You’re lucky to be in a position to do that.
For many people, no doubt you included, taking out a mortgage in order to get into a house turned out to be a good decision. But we have to deconstruct home ownership. A mortgaged house is two things, an asset and a liability. Having a house is a good investment. Having a mortgage is a bad investment. The goal of a retiree should be to have a house without a mortgage.
The 40% of your IRA in bond funds means you are a lender. If the funds track the U.S. bond market then a good portion of your savings is being lent out, at low rates, to the U.S. Treasury. This part of your portfolio is earning 2% at best. Your mortgage is probably costing you 3% or more.
Borrowing at 3% in order to lend at 2% is a bad idea.
Two things cause people like you to hesitate before cashing in an IRA in order to pay down a debt: the taxes they’d owe and the IRA returns they’d miss.
Yes, the IRA withdrawal means writing out a check to tax collectors. You’re probably in a 27.4% bracket (state and federal combined), so you’re going to owe $51,000 on a $185,000 withdrawal.

But taxes on this money are inevitable. If you are past 59-1/2 (the cut-off to avoid penalties) and not expecting to see your tax bracket go down, postponing the inevitable does not leave you better off. If the IRA grows, so do the tax bills.
The arithmetic becomes clearer if you rethink what an IRA is. Where you see an $850,000 asset, I see something different. I see you as the custodian for an account that has two beneficiaries. You’re sitting on $617,000 that belongs to you and also on $233,000 that already belongs to tax collectors.
Look at what growth does to this account. If, for example, you’re able to double the portfolio at Fidelity, the account will then have in it $1.7 million. Of this, $1,234,000 will belong to you and $466,000 will belong to the tax guys. You’ve doubled your money and you’ve doubled the government’s money.
In effect, what you have is not an $850,000 asset but a $617,000 asset that’s all yours and that grows tax-free.
What, then, are you sacrificing when you take a big distribution? Assuming you take it out of the bond portion of your portfolio, you’re losing a return that comes to 2% pretax and, thanks to the wonders of IRAs, the same 2% after taxes.
And what are you gaining by ripping up the mortgage? You’re getting a guaranteed return of 3% before taxes. Thanks to the wonders of the standard deduction, you’re not deducting interest and that 3% mortgage is costing you the same 3% after taxes. So getting rid of a mortgage earns you 3%.

There it is. Paying off the mortgage costs you an aftertax 2% and earns you an aftertax 3%. It’s a winning move. It would still be a winner, albeit a more modest one, if tax rules change and you go back to deducting interest.
Now let’s tackle the other reason people stick with 3% mortgages, which is that they are investing money to earn 10% or 15%. This is a faulty comparison. High returns come from risky assets like stocks. The mortgage is a sure-thing liability (you can’t duck the debt), so it must be compared to a sure-thing asset (a loan to the U.S. Treasury).
The apples-to-apples comparison comes into sharper focus when I hypothesize that your entire $185,000 withdrawal comes out of low-risk bonds. At this first stage of your financial makeover, then, the stock funds aren’t touched.
Now you take a look at what’s left and see a Fidelity account that has a high percentage in stocks. Is that allocation too high? Maybe, maybe not. But that’s a separate discussion.
Selling bonds to pay off a mortgage leaves you better off no matter what happens to the stock market. Meanwhile, whether you have too much money in the stock market is an independent decision that shouldn’t influence your thinking about the mortgage.
Unlike comparing 2% to 3%, determining the correct level of risk for a 72-year-old is not a question that has a clear answer. Taking money out of stocks would lower your expected return but might be wise anyway. What are your living costs and how well are they covered by pensions and Social Security? Would your retirement survive a stock market crash with the portfolio you have now? Have a talk with your wealth advisor about this.

Whatever you do, don’t compare 10% stock market returns to 3% mortgages.
I said, above, that the mortgage paydown is probably a good move. Now here are some things to be cautious about.
First, your tax bracket. You may need to carve up the $185,000 distribution into thirds, spreading it over 2022-2024, in order to avoid being kicked from a 22% federal rate into 24%.
Next, your near-term plans. Any chance you’ll be moving to Texas or Florida? If so, hold off on excess distributions until you’re out of reach of the 5.4% Missouri tax.
Last, your end game. Is there a good chance that a diminished IRA will run dry while you’re still healthy enough to live independently? Would you at that point be averse to moving out—to a rental or to a smaller house—in order to extract some cash? And would you, in order to stay put, probably use a reverse mortgage to cover monthly expenses? If this outcome is likely, and if your existing mortgage has a lot of years to run, you should perhaps hang onto it. Its terms are much better than anything you’d get on a reverse mortgage down the road.
Do you have a financial situation like this? Send a description to williambaldwinfinance—at—gmail—dot—com. Put “Query” in the subject field. Include a first name and a state of residence. Include enough detail to generate a useful analysis.
Letters will be edited for clarity and brevity; only some will be selected; the answers are intended to be educational and not a substitute for professional advice. […]

$1 Trillion Crypto Crash: Goldman Sachs’ Reveals Huge Bitcoin Price Prediction After Ethereum Bet

January 9, 2022 Daily Comments Off

Bitcoin and cryptocurrencies have had a dreadful start to 2022, continuing the downward trend from the end of last year as price pressures mount.Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains’

The bitcoin price has lost around 40% since peaking in November, down from almost $70,000 per bitcoin to lows this week of $41,000. Meanwhile, ethereum and other major coins have also crashed back, wiping around $1 trillion in value from the crypto market since its November high.
Now, Wall Street giant Goldman Sachs

GS
, has predicted bitcoin will increasingly compete with gold as a “store of value”—and could hit $100,000 within five years.

Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday

“Bitcoin may have applications beyond simply a ‘store of value’—and digital asset markets are much bigger than bitcoin—but we think that comparing its market capitalization to gold can help put parameters on plausible outcomes for bitcoin returns,” Zach Pandl, co-head of foreign exchange strategy at Goldman Sachs, wrote in a research note. Bitcoin currently has a market capitalization of around $800 billion compared to gold’s $11.4 trillion.

“Hypothetically, if bitcoin’s share of the store of value market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualized return of 17% to 18%.”
Bitcoin’s reputation as a digital store of value similar to gold has been propelled by the soaring inflation that’s hit economies around the world over the last year. In May 2020, renowned investor Paul Tudor Jones put bitcoin firmly on Wall Streets’s map when he named it as a “the fastest horse to beat inflation.”
“Bitcoin has superior monetary qualities to gold, and once it reaches a critical mass of adoption as a store of value, bitcoin has huge potential to grow into a global reserve currency and universal unit of account,” Hong Fang, the chief executive of crypto exchange Okcoin, said in emailed comments, pointing to bitcoin’s scarcity via its fixed supply of 21 million coins, its digital durability and accessibility, as well as its resistance to censorship.
“Bitcoin is not just an asset class—the bitcoin network is proving to be a viable global payment network, with bitcoin being programmable money,” added Fang. “In 2022, we’ll continue to see bitcoin prove itself as not just a store of value, but also a medium of exchange and unit of account.”
The bitcoin price has rocketed a little over 400% since January 2020, riding an asset price boom that’s pushed stock markets to all-time highs—and helped the price of ethereum to outpace bitcoin.
Last year, a leaked Goldman Sachs report predicted ethereum, the second-largest cryptocurrency after bitcoin, has a “high chance” of overtaking bitcoin as a “dominant” store of value—calling it the “Amazon

AMZN
of information.” Investors have piled into ethereum over the last couple of years as a surge of interest in decentralized finance (DeFi) and the on-going non-fungible token (NFT) craze drives up the ether price.
CryptoCodex—A free, daily newsletter for the crypto-curious

The bitcoin price had a rocky 2021 as extreme volatility saw it swing wildly. Ethereum, the … [+] second-largest cryptocurrency, also bounced sharply, climbing to almost $5,000 before crashing back.

Coinbase

Bitcoin’s success over the last few years has pushed both companies and countries to begin experimenting with it like never before. Business intelligence software company MicroStrategy

MSTR
has led the way in converting its cash reserves to bitcoin—inspiring Elon Musk, the chief executive of Tesla

TSLA
, to add $1.5 billion worth of bitcoin to the electric car maker’s balance sheet in January 2021.
MicroStrategy chief executive Michael Saylor has predicted the bitcoin price could eventually hit $6 million.
Meanwhile, the Central American country of El Salvador has adopted bitcoin as its national currency alongside the U.S. dollar as part of a plan to integrate bitcoin into its economy and society. […]

Kevin Durant reveals what he told Kyrie Irving about return to Nets

January 8, 2022 Daily Comments Off

The Brooklyn Nets have Kyrie Irving back as a part-time player. Kevin Durant wants him to be more than that, but Durant isn’t going to take that matter into his own hands. Durant said after Friday’s loss to the Milwaukee Bucks that he has told Irving how happy he is to have the guard back, and that he would like him available for all games. Durant added, however, that he would not put any added pressure on Irving to get vaccinated in order to play home games in Brooklyn. […]

Celtics coach Ime Udoka: Our players lack mental toughness

January 8, 2022 Daily Comments Off

The Celtics have been consistently frustrating all season long, and coach Ime Udoka is definitely feeling that way after Boston’s latest loss.
The Celtics lost to the New York Knicks 108-105 on Thursday, blowing a 25-point lead and losing on a buzzer-beating three by RJ Barrett. The collapse was the latest in a string of them for Boston, which has blown four leads of at least 19 points in only 39 games. That had Udoka questioning the Celtics’ mental toughness and suggesting the team is not good at slowing things down during moments of high pressure.
“I think it’s a lack of mental toughness to fight through those adverse times,” Udoka said, via Tim Bontemps of ESPN. “To your point, it’s across the board. It’s a turnover here, a bad shot here, a missed defensive assignment here, and several missed rebounds tonight.

“So it’s a lot of different things. And then, like I said, a calming presence to slow it down and get us what we want is really what you need at that point. And sometimes we all get caught up in it.”
This is not a good look for the Celtics, who have been the subject of persistent culture concerns. Those issues date back to last season, when a team leader seemingly questioned the nightly effort from his teammates. The concerns have lingered this season, particularly after the Celtics’ two stars received some public criticism from Marcus Smart early in the campaign.
The Celtics are just 18-21 so far this season. They have time to salvage the season, but some things are clearly going to need to change. […]

No Matter Your Budget, These Exercise Dresses are Great for Every Workout

December 14, 2021 Daily Comments Off

These exercise dress picks not only top the comfort list, but look super cute on, too.What is an exercise dress?Exercise dresses are super popular, and for a good reason: They are a no-fuss, easy-to-wear option that can seamlessly go from studio to street to the super popular brunch spot without missing a beat.It’s basically your favorite pair of leggings—sweat-wicking, stretchable, and uber-comfy— in a fun, flowy and much less constrictive form.“Exercise dresses are transitional,” says Deja Riley, a Lululemon ambassador, Mirror trainer, and dancer who spent years getting her groove on for A-listers like Beyoncé, Britney Spears, Katy Perry, and Lady Gaga.“I can go from brunch with my friends to my favorite workouts, then to run some errands all while looking and feeling good,” she says.“Plus, they usually come with a few hidden pockets, so I can move around the city with my hands-free, which is ideal.”How to pick an exercise dressWhen it comes to shopping for an exercise dress (or really any sort of workout gear), experts tend to agree that it’s all about fit, fabric quality, functionality, and feeling good.FitWhile this is a personal measurement, you know when something fits well and when it doesn’t.“You want to be as comfy as possible when working out because ultimately you’re there to move your body,” says Gabi Gregg, a designer, influencer, and Athleta ambassador.Focusing on the workout is the goal, rather than being distracted by straps that slip, built-in shorts that ride up, overly restrictive gear, or a too-short dress that you spend an entire workout tugging on because you feel like you are exposing yourself.For Gregg, she personally likes a balance of comfort and support.“I want things that hold me in so that I can move easily yet still support me so my body isn’t constantly bouncing as I move.”You also want to consider the type of workout you are actually doing before investing in a good workout dress.Some modalities call for different fits, according to Riley.“When I’m dancing, I like to reach for something looser so that I can be really in touch with my body and feel the movements, and when I’m boxing, indoor cycling, or doing HIIT training, I like something tighter to keep me feeling secure,” Riley says. “Whatever I’m wearing though, stretch is a must.”Fabric qualityWhether you are powering through an AMRAP or doing the 100s in Pilates, you want a well-constructed garment that’s strong enough to meet the needs of the workout, but still feels great against the skin.Gregg suggests buttery soft fabrics that breathe.And just as you use the good-old squat test for leggings to see if they are thick enough, the same strategy can and should be used for an exercise dress to see if the fabric you are donning is see-thru or not. Better to know up front than to be sorry during your next exercise class.FunctionalityDoes the exercise dress do what it claims to do? For the most part that simply means managing excess moisture and then having a fabric that dries quickly. Look, no one wants to be saddled with a sweat-soaked garment, especially if post-workout you have errands to run.Also, does the fabric breathe? Feeling like you are having a heat stroke in your gear will surely affect your performance (Translation: No PRs today!).Feeling goodClothes are powerful. How you look and feel in them can really make or break a workout.“I think most people, like me, are taking a more holistic approach to fitness and wellness,” says Riley.“You can’t do your best without feeling your best, so taking that extra effort to make yourself feel and look good while still being functional in your daily practice goes such a long way.”Keeping the suggestions of our pros in mind, here are 10 dresses that you might want to cozy up to this summer.The best exercise dressesvia amazon.comWillit Exercise DressShop NowThe thing we love most about this tennis dress from Willit? The sleek and supportive shorts are detachable, which means you don’t have to shimmy out of the entire thing when the urge to use the bathroom hits.OK, and it has all the traditional things we’ve come to love in an exercise dress: a built-in bra with removable cups, hidden pockets large enough for your phone, and a breathable nylon-spandex blended fabric that expertly manages sweat. Did we mention it’s also comfy enough to lounge around in all day, too?via outdoorvoices.comOutdoor Voices Exercise DressShop NowFrom playing tennis to enjoying a picnic in the park with your significant other, the versatility of this Outdoor Voices dress makes it a must-have wardrobe staple.Not to mention with this pick, you get the same great, light-as-air dress that caught everyone’s eye when it debuted in 2018 (and basically ushered in this whole dress movement we’re in the midst in now), but with a few key upgrades: adjustable straps, pockets big enough to fit your smartphone, and elastic grippers on the built-in bodysuit to keep it from riding up. Choose from six colorful hues.via nike.comNike Bliss Luxe DressShop NowAvailable in extended sizing, this Nike exercise dress gives you the best of both worlds: a short knit bodysuit with a built in bra that hugs and supports your frame and a lightweight outer layer that keeps all of your goods under wraps.The best part, though, is that this frock is eco-friendly—it’s made with recycled polyester—so not only will you look good during your next HIIT class, but you’ll be helping out the planet too. We call that a win-win!via columbia.comColumbia Women’s PFG Freezer III DressShop NowWhen outdoor adventures call—be it fishing or hiking—you’ll be ready with this flattering alfresco find.Not only does the silky, smooth fabric contain a 50 UPF rating, which helps protect against the sun’s harmful rays, but your sweat will activate a special cooling technology in the fabric that will chill you out—literally.Even better, this workout dress by Columbia, which comes in an assortment of colors, packs away without wrinkling, making it the perfect travel companion.via lululemon.comLululemon Serene Stride DressShop NowThe fitted bodice and flowy hem will make even your toughest miles feel pretty— and that’s not even the best part of this Lululemon dress.It’s the little details that will complement your run that have us placing this pick in our online shopping cart again and again: a convenient pocket in the built-in shorts to stash essentials, including keys, cash and an energy gel for those longer distances; the lightweight fabric that not only wicks sweat but dries super fast; and reflective details that make sure you’re seen when the sun goes down.via sweatybetty.comSweaty Betty Power Workout DressShop NowMade of Sweaty Betty’s signature super stretchy and body-shaping fabric, this cute sleeveless number can handle everything from boxing to indoor cycling to Pilates.Plus, the built-in bra and supportive shorts make this an all-in-one, so you can grab it and go, and feel confident that you have all of your gear. Warning: Some reviews say it can be a little tricky to wiggle into this workout dress, but once it’s on, you’ll totally forget that little struggle.via athleta.comAthleta Match Point DressShop NowDon’t be fooled by this high neck choice from Athleta. It still provides plenty of relief from the heat thanks to the front zip and the heavily ventilated mesh back (which will also show off a cute little sports bra!).Plus the UPF 50 + rated sustainable fabric will help deflect the sun when its rays are beaming down on the tennis court.There is one drawback: This dress comes sans shorts, so you’ll have to BYOS (bring your own shorts) if you want that layered look.via oldnavy.comOld Navy Sleeveless PowerSoft Performance Racer-Back Mini Swing DressShop NowWhile there is nothing wrong with a body-con dress, sometimes you just want to feel a little less constricted. With its relaxed fit throughout the body and the slightly flared bottom, this super cute Old Navy camo number totally fits the bill.Also handy: The built-in shelf bra along with the moisture-wicking, poly-spandex fabric make it ripe for any sweat sesh, though we prefer to rock this as everyday wear.via patagonia.comPatagonia Women’s Magnolia Spring DressShop NowIf you want a do-everything, casual summer exercise dress, look no further than this one from Patagonia.Not only does this A-line silhouette travel well, but it’s durable (read no pilling or sagging); has anti-odor properties so you can sport it more than once without worrying about a foul smell; and it’s constructed with recycled materials, making it eco-friendly too.via thehalara.comHalara Everyday Workout Dress WannabeShop NowConsider this your recovery workout dress, and cop it in multiple colors. This formfitting style from Halara, which really shows off your stems (read: it’s definitely shorter than the others), is made for low-impact moves, such an easy five-minute standing yoga flow or an easy-paced walk around town.The shoulder straps, while thin, won’t dig in, the pockets on the shorts are perfect for any little do-dads you want on hand, and the soft, cloud-like fabric feels like heaven against your skin. […]

10 Hiking Shorts for Women You’ll Love to Wear Everywhere

December 13, 2021 Daily Comments Off

Having the right hiking attire can make your trek more enjoyable. Here’s what the experts want you to know about what to look for when purchasing the perfect pair of hiking shorts for women.Put on your best pair of hiking shortsHiking is more than a fun and exciting pastime, it is also an activity with serious health benefits.Research in the American Journal of Lifestyle Medicine suggests that hiking can reduce blood pressure, lower stress levels, restore attention, and enhance the immune system.With some gyms and workout rooms still closed, there’s never been a better time to get outdoors for some exercise.According to the American Hiking Society, there are some 1,244 National Recreation Trails within the National Trails System in the United States.But before you hit the trails, whether it’s for a brisk hike or an epic trek, it’s important to think about what you’re going to wear. And if it’s warm out, that means you’ll need a good pair of hiking shorts.While the experts say you don’t need anything more than basic workout clothes to get out there and hike, there are certain qualities and features in shorts designed for hiking specifically that can make your experience more comfortable and safe.We got ahold of experts who know exactly what to look for in your hunt for the right hiking shorts for women. Here’s what they had to say.What to look for when buying hiking shorts for womenFabric and fitThe experts say that your choice of fabric is one of the most important considerations when looking for hiking shorts. (The same goes for hiking socks, too.)They say to avoid cotton or other fabrics that tend to absorb moisture and don’t dry quickly. Synthetic fabrics like nylon and polyester are a good choice for workout clothes because they wick moisture away from the skin and allow it to pass through the material so it can release into the air.Kathryn Van Waes, the executive director of the American Hiking Society, says most workout clothing from almost any brand nowadays has these properties. “Bonus points if the material has anti-stink properties, which a number of brands offer but with different names,” she adds.When it comes to fit, the experts say whatever feels comfortable is likely a good fit. Kelly Roberts Lane, with Fix It Physical Therapy, says your hiking shorts should have room to enough to move around in easily.WaistbandThe experts recommend picking shorts with a flat, wide waistband for even pressure distribution.“You also have to consider the button as it sits right under the waist belt of your backpack and soon will become a pain, literally,” says Dr. Lane.She recommends picking shorts with an elastic waist or a button that has cloth behind it for comfort.Water and wind resistance/proofingIf you’re planning on hiking in very wet or windy conditions, you may want to consider waterproof and windproof shorts. But the experts say in most cases, you’re better off with water-resistant and wind-resistant clothing.Van Waes says waterproof and windproof clothing that is also breathable usually come with a higher price tag and more inexpensive versions don’t allow airflow. She adds that in non-breathable waterproof hiking attire, you will likely become so sweaty you’ll end up just as wet as you would have hiking in the rain.ColorThe experts note that if you’re hiking in an area where you’re likely to come into contact with ticks, try wearing white or lighter colored clothes so you can spot ticks easily. Lighter clothing also tends to absorb less heat from the sun.PocketsVan Waes says pockets or no pockets is a personal preference. But pockets can be convenient when you need to stash different items you want close at hand, like cameras, maps, binoculars, or your phone.Some hiking shorts even have a waterproof lining in their pockets or zipper for added security. The experts say it’s especially great when hiking shorts have a zippered pouch in the waist or back of the shorts to store things like keys, cash, or cards.Skirts/skortsIf shorts aren’t your thing, many hiking gear companies make skirts, or skorts (skirts with built-in shorts), these days. Dr. Lane says she normally hikes in a skirt or skort.“I am enjoying the skirt experience,” she says. “It has plenty of room to move, drys quickly, and is breathable.”Top hiking shorts for womenNavigating the various features when buying hiking shorts for women can be tricky. So here are some of the best hiking shorts for women based on expert advice.Mountain Hardware Dynama 2 Bermudavia mountainhardwear.comShop NowMountain Hardware is a company the experts recommend for top hiking attire. The Dynama 2 Bermuda hiking shorts by Mountain Hardware contains all the expert-recommended features—and more.These shorts are a bit pricer than others, but they are quick-drying, and breathable, made of 94 percent nylon and 6 percent elastane, and are water-resistant.They also offer excellent protection from the sun with built-in UPF 50 protection and anti-stink properties.Despite having a minimal looking design, they come with two deep pockets in the front, a zip pocket on the left thigh, and a pocket on the back, right-hand side to stash extra gear, snacks, or as Van Waes points out, ‘treasures’ your kids may come across on the trek.To top things off, these shorts have a flat, wide, low-profile elastic waistband for extra comfort and do not contain an enclosure like a button or Velcro patch that can cause irritation or indentations in the skin.REI Co-op Active Pursuits 4.5″ Shorts – Women’svia rei.comShop NowIf you’re looking more for a cross between running or biking shorts and hiking shorts, look no further! These REI shorts sit higher and looser than some other hiking shorts for women, offering excellent air flow and reducing the risk of chaffing without being revealing.They are also super stretchy containing 14 percent sustainable spandex, quick-drying, have an inner moisture-wicking layer, and offer UPF 50 sun protection.For added comfort, these shorts have a wide, flat elastic waistband with a drawstring that allows you to get the perfect fit every time you wear them.Unfortunately, these shorts do not contain hand pockets, but they do come with one small pocket built into the inner lining to hold things.Columbia Women’s Sandy River Shortvia amazon.comShop NowThese mid-length hiking shorts for women from Columbia are designed for water sports and hiking in wet environments.They are 100 percent nylon, providing an excellent fit while also wicking away moisture and being breathable, and quick-drying. They also offer built-in UPF 30 for some sun protection.These shorts fit loose with a comfortable elastic waist and an inner drawstring to help fit better as swelling and sweating occur.These shorts have two side hand pockets and one back zippered pocket for stashing your stuff and any other hiking gear essentials you may want to carry.At this price point, you can also get a pair of these shorts for the same cost as shorts that are lower quality or from less reputable brands.Like many Columbia hiking shorts, these also come in plus sizes.Prana Arch Skortvia prana.comShop NowSkorts, or a skirt exterior with a short interior, offer a wide range of movement.This one from Prana is made of a blend of elastane, polyester, and nylon without the look or feel of other hiking shorts. These materials also make this skort breathable, moisture-wicking, and quick-drying.The Prana arch skort looks like a regular sport skirt from the outside, but offers the support of mesh-lined shorts inside, making it a versatile pick good for more strenuous or urban hiking. These shorts also provide a great fit for most women, having a stretchy elastic waistband, inner drawstring, and side-cinches that make the length of the short adjustable.As a bonus, this skort is made from sustainable materials in Fair Trade Certified Factories and built-in UPF 50 sun protection.(Here are the best exercise dresses.)Columbia Women’s Anytime Outdoor Long Shortvia amazon.comShop NowIf you’re looking for a longer hiking short with more protection and a longer fit, this option from Columbia might be your best bet. With two-way stretch, made out of a mix of nylon and elastane, these shorts provide comfort during movement and wick moisture away from the skin.They also come with built-in sun protection in the form of UPF 50 and protect more of the skin from the sun, being a longer fit. Unlike many hiking shorts, these also offer stain resistance.These hiking shorts conform closer to the body, offering a more tight fit.These shorts have two hand pockets in the front and one zippered pocket in the pack to hold valuable items and a comfortable elastic waistband with an external drawstring to help you get a customized fit.They also come in plus sizes to meet the needs of people with a variety of body sizes.Patagonia Baggiesvia patagonia.comShop NowFor the eco-conscious buyer looking for a lighter pair of hiking shorts, this may be the right fit for you.These 100 percent recycle nylon Patagonia shorts are breathable, moisture-wicking, and water repellent.They also contain two front hand pockets with a mesh lining that allows water through to make for drainage and quicker drying.The Patagonia baggies also offer a comfort, loose fit and an elastic waistband for added comfort and a drawstring for a more customized, versatile fit. Use these shorts for other activities like running, walking, or cycling.Travel Panty Skort Odyssey 12 from Sportive Plusvia sportiveplus.comShop NowFinding comfortable, plus-sized hiking shorts that come with important features like quick-drying or UV resistance can be tricky.Supportive Plus is one brand offering more variety of plus-sized outdoor attire than many other leading hiking brands and designed specifically for extra curves and sizes.This skort is moisture-wicking, quick-drying, and blocks UV rays.It also comes with two deep hand pockets in the front as well as two cargo pockets, one on each side, towards the bottom of the skort.The manufacturer of this product says the skort is a loose fit, so they recommend many people purchase one size smaller than they normally would.Prana Alanavia prana.comShop NowThese Prana shorts are more water-resistant than many other available hiking shorts for women, yet this advantage means they may be less breathable than other pairs.They also offer four pockets, two deep hand pockets in the front, an invisible zippered pocket in the back, and two back pockets with tabs for extra security and a more flattering fit. These shorts also offer good sun protection with built-in UPF 50.For the eco-conscious buyer, these shorts feature a recycled nylon blend.Unlike most of the other shorts on this list, these shorts have a firmer waistband with two snaps in the front and an inner drawstring to help get the right fit.REI Co-op Sahara Guide Skirtvia rei.comShop NowFor those who love the idea of a regular hiking skirt, this liner-free mid-thigh skirt may be a good fit for you.This REI skirt allows tons of breathability and movement, made of a mixture of sustainable nylon and spandex on the front and back and polyester and spandex on the sides. The skirt is also moisture-wicking and water and stain repellent, and comes with built-in UPF 50.Unlike some skirts, this one has with two deep hand pockets in the front and a zippered pocket in the back for valuables. Having a flat, wide, elastic waistband also makes this skirt comfortable for long periods of time, and it has an internal drawstring to help adjust the fit as needed.Plus, this skirt has a carabiner loop, similar to a bungee loop, for hanging items you want to quickly and easily reach during your hike, like sweat cloths or binoculars.REI also offers this skirt for sale in a gently used version, knocking major bucks of the price and allowing you to help reduce the environmentally-harmful cycle of wasted clothing.Athleta Trekkie North Shortvia athleta.gap.comShop NowThese shorts, which come in sizes 00-3X, tick off almost all the boxes when it comes to expert-recommend features of hiking shorts for women.They are extremely durable, made of ripstop fabric and a mix of recycled nylon and spandex that make these shorts stretchy, quick-drying, moisture-wicking, and breathable.They also contain four zippered pockets, two hand pockets in the front around the waist and two that contour to the arch of the bum in the back.These shorts come with built-in UPF 50 to block out most of the sun’s rays. […]

8 Best Hiking Poles for Long Walks and Treks

December 13, 2021 Daily Comments Off

Hiking sticks are not for everyone, but they can be surprisingly helpful for many people. Here are some tips to help you find the best hiking poles or walking sticks for you.The hiking pole is an underrated toolSince prehistoric times, humans have used various walking sticks, from fallen branches and carved wooden staffs to the adjustable, ultralight trekking poles seen on trails today.Walking sticks are not necessarily essential hiking gear, but they can be surprisingly helpful for many people in many situations. They provide enough benefits to outweigh the extra burden, which varies by material and features.“Having hiking sticks, at least one of them if not two, are really good for getting some stability and balance, especially if you’re hopping on rocks,” says Kate Van Waes, executive director for the American Hiking Society (AHS).“They’re good for balancing yourself if you’re going over tricky spots while carrying weight.”Along with improved balance, walking sticks can reduce impact on your joints, too, potentially protecting you from knee pain and other common hiking maladies, according to the journals Medicine & Science in Sports & Exercise and Wilderness & Environmental Medicine.They provide a boost when going uphill, as well as valuable support during descents, and they’re often useful for poking the ground to test the depth and consistency of mud, puddles, or snow.Trekking poles can also reduce the perception of effort when hiking, helping it feel easier even if you’re burning more calories, per The Journal of Strength and Conditioning Research.They can have some drawbacks, such as requiring additional energy from your upper body, occupying your hands, and adding more weight to the overall load you’re carrying.Having ultralight hiking sticks can help with the weight and energy cost, though, and a foldable stick can also be stored more easily when you aren’t using it, thus freeing up your hands while you hike.Here’s what to look for in a hiking stick. Plus, options that are worth the investment.Peathegee Inc/Getty ImagesWhat to look for in a hiking pole or walking stickThe best walking stick(s) for you will depend partly on your personal preferences, as well as on the terrain and conditions where you plan to go for a walk.Here are a few factors to consider when shopping for hiking sticks or trekking poles:MaterialThe earliest walking sticks were likely all made from wood, and many still are today. That includes tree branches you find on the forest floor, of course, as well as canes, staffs, and other walking sticks carved from wood.But walking sticks now come in other materials, too, so it’s important to weigh the pros and cons of each.“Definitely, there are people who still prefer that traditional wood hiking staff, and really that comes down to personal preference,” says Wesley Trimble, communications and creative director for the AHS.Wood is often stabler and more durable than other materials, he notes, but also heavier and less versatile.It can work well for short walks and day hikes, but may become a nuisance on overnight backpacking trips, both due to its weight and its lack of folding or telescoping capabilities.That’s why trekking poles now feature lighter material, usually either aluminum or carbon fiber.WeightSince wooden walking sticks tend to be heavier, people often use just one at a time for shorter hikes, Trimble explains, rather than in pairs like trekking poles.Both aluminum and carbon-fiber walking sticks tend to weigh less than those made of wood, but carbon fiber is usually the lightest option. That makes it popular among many long-distance hikers, although it can be more expensive than aluminum.DurabilityThe light weight of carbon-fiber walking sticks and trekking poles may come at the expense of durability, Trimble points out.“Aluminum trekking poles are typically heavier and more durable, whereas carbon-fiber poles are lighter weight but can’t really bend, so they’re more likely to break.” Wood can be highly durable, but again, its weight and rigidity tend to rule it out for longer hikes.AdjustabilityMany aluminum or carbon-fiber walking sticks and trekking poles are adjustable, allowing hikers to lengthen or shorten them as needed. That can be helpful, Trimble notes, given the importance of using poles with the right length for your body.“The length of trekking poles does matter,” he says. “The general rule is, if the pole is at your side, your elbow should be at about a 90-degree angle, with your forearm essentially parallel with the floor.”Having an adjustable pole can not only provide some wiggle room, but it also gives you the option to adjust the length as you hike—extending the pole sometimes helps when going downhill, for example. Adjustable poles are easier to share, too, since they are customizable for different body types.Despite these benefits, however, Trimble says he prefers single-length trekking poles to adjustable ones, both for their lighter weight as well as increased stability and sturdiness.FoldabilitySome people use walking sticks throughout their hike, while others save them for certain scenarios like descents, stashing them in their backpacks the rest of the time.“For a wooden hiking staff, thinking about packability is also important,” Trimble says. Since it can’t be made smaller without breaking it, a wooden hiking stick may jut out from your backpack, potentially snagging on branches or other vegetation.Many non-wooden walking sticks and trekking poles are collapsible in some way, often with either a telescoping or folding design. That can make a big difference for longer camping trips, when you may want to periodically pack them away and have free hands, but it could be unnecessary for a day hike.Shock absorptionSome aluminum and carbon-fiber poles also have shock absorbers, helping soften the impact of repeatedly poking them into the terrain.That can be valuable for long hikes with a heavy backpack, or when hiking on rocks and other hard surfaces, as the poles take some pressure off your hands and arms by absorbing a little more of the impact each time they touch the ground.BasketsMany trekking poles have “baskets” near the bottom, whose extra surface area helps prevent the poles from sinking too deeply into the ground, and also helps hikers push off the ground with each step.The appropriate size of baskets depends on the terrain, with larger baskets often useful on snow or other wet ground. Smaller baskets can be lighter and less cumbersome, but they have drawbacks, too.“I’ve found the trekking poles with really small baskets can get caught in boulders, so having a slightly bigger basket can help in some situations,” Trimble says.Many companies make trekking poles with interchangeable baskets, allowing hikers to customize the size for each hike.CostThe cost of walking sticks and trekking poles varies widely, from less than $50 to more than $200. You may not need the most expensive models for a casual day hike, but while cheaper options are fine in some cases, you do tend to get what you pay for.“It’s tempting to buy something cheaper, but I’ve found a lot of times going with quality and provable brands for outdoor gear, even if costs more up front, will last longer in the long run,” Trimble says.(Here’s the other winter walking gear worth buying.)The best hiking polesWith these factors in mind, here are some highly regarded walking sticks for hiking and trekking poles, including a few examples of various types.Trekology Trek-Z Aluminim Trekking Polesvia amazon.comShop NowAt less than $40, these folding and adjustable aluminum poles from Trekology offer a nice value for beginner and budget-conscious hikers. The poles consist of three sections, which can fold down to just 15 inches for portability, and use flip-lock technology for an adjustment range of about 7 inches.They have moisture-wicking foam grips, and sturdy aluminum shafts for high durability. They’re on the heavy side, weighing more than 20 ounces per pair, but still a solid option for affordable, high-performance trekking poles.Cascade Mountain Tech Carbon Trekking Polesvia amazon.comShop NowThe lower weight of carbon-fiber trekking poles often comes at higher prices, but these Cascade Mountain poles offer the advantages of 100 percent carbon fiber for less than $50.They’re adjustable and collapsible, with foam or cork grips, and a flip-lock telescoping design that can go from 54 inches fully extended to 26 inches when fully collapsed.A pair of these poles weighs just under 1 pound (16 ounces) without tips, although as with carbon-fiber poles in general, they may be less durable than similarly priced aluminum options.Black Diamond Alpine Carbon Cork Trekking Polesvia amazon.comShop NowFor more serious hiking in difficult terrain and variable conditions, these popular $180 poles from Black Diamond offer the light weight of fully carbon-fiber shafts (about 17 ounces per pair) with unusually high sturdiness and durability.They also feature aluminum flip locks for adjustability rather than plastic, plus cork grips with foam extensions, although their price is a bit steep for many budgets.Leki Micro Vario Carbon Trekking Polesvia amazon.comShop NowIf you’re willing to spend $200 on trekking poles, these ultralight, compact, and adjustable Leki poles are probably worth consideration.Made by German ski- and trekking-pole giant Leki, the 100 percent carbon-fiber Micro Vario poles are renowned for their light weight—about 1 pound per pair—as well as their high durability and performance, even in difficult conditions.They’re highly compact, too, going from a fully extended 51 inches down to a collapsed length of just 15 inches.High Stream Gear Aluminum Trekking Polesvia amazon.comShop NowThese aluminum High Stream Gear poles weigh more than 20 ounces per pair, but they combine the toughness of aluminum with high foldability.They come in two sizes, measuring either 47 or 53 inches fully extended, and can collapse down to just 14.5 inches long at their most compact.They’re relatively affordable at about $50 for a pair, and also come with carrying holsters for your belt.TrailBuddy Aluminum Trekking Polesvia amazon.comShop NowAnother strong aluminum option, these TrailBuddy poles provide more durability than most carbon-fiber poles at a fraction of the price ($35). The trade-off is weight, as with other aluminum poles, although these still weigh roughly 20 ounces per pair.They’re 54 inches long fully extended, and collapse down to 24.5 inches long for packing. They’re available in several colors, and come with accessories including mud baskets, snow baskets, rubber tips, and padded straps.Leki Wanderfreund High Fives Walking Polevia amazon.comShop NowSome people prefer a single walking stick when possible, and that can work well in many situations. This solo Leki hiking staff weighs less than 10 ounces, yet also offers the sturdiness of aluminum, an adjustable shaft, and a cork handle for $70.It may not be the best option for long backcountry treks, but it does offer versatility, potentially serving as a cane or walking stick for everyday use as well as a hiking stick for taking walks in the woods.Leki donates a portion of the proceeds from this walking stick to the High Fives Foundation, a California-based nonprofit focused on preventing and providing support after life-altering injuries.Brazos Wooden Hiking Stickvia amazon.comShop NowIf you want a traditional wooden walking stick at a low weight and price, Brazos Walking Sticks might be able to help. The Texas company produces a range of wooden walking sticks with various designs and handle shapes, all made in the United States.This model is available in several types of wood—including ash, oak, hawthorn, hickory, ironwood, and pine—as well as multiple lengths, from 41 up to 58 inches.The weight and price vary by length and wood type, but the 55-inch hickory stick linked above weighs 1.35 pounds (21.6 ounces) and costs less than $40. That’s pretty light for a wooden walking stick, although it’s worth noting many pairs of aluminum or carbon-fiber trekking poles weigh less than this single walking stick.Next, check out the best walking workout. […]