Alaska could end to oil checks paid to residents since 1982 + MORE Jun 29th

DUBAI, United Arab Emirates – A top official in the United Arab Emirates has issued an order for the merging of two of the Gulf nation’s most prominent government wealth funds, streamlining the country’s investment strategy as it weathers a slump in oil prices.
The decision by Abu Dhabi’s crown prince, Sheikh Mohammed bin Zayed Al Nahyan, will combine Mubadala Development Company and the International Petroleum Investment Company, which holds stakes in several energy-related companies and owns most of Abu Dhabi-based Aabar Investments.
Mubadala’s holdings include semiconductor maker Globalfoundries and stakes in General Electric and Washington-based private equity firm The Carlyle Group.
The Abu Dhabi companies’ most recent financial statements show that Mubadala holds about $67 billion in assets, while IPIC is slightly larger at $68 billion. They together carry about $42 billion in debt.
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ANCHORAGE, Alaska – As Alaska faces a multibillion dollar budget deficit, the oil fund wealth checks distributed yearly to nearly every Alaskan could be on the chopping block.
It could mean the first time in more than 30 years that most Alaskans won’t get a check from the government just for living in the state.
“We’ll look at every item individually and decide between now and July 1 what items get vetoed and what does not,” Gov. Bill Walker, who announces budget vetoes Wednesday morning, told reporters earlier this month when asked if he would veto all or part of the $1.4 billion oil check fund appropriation sent to him in the budget by lawmakers.
“At this point, all options are on the table,” the Juneau Empire reported Walker saying June 23.
Alaska state government relies mostly on revenue from oil production to stay solvent. But declining production and a precipitous drop in oil prices have plagued state government, leaving Alaska with a deficit of more than $3 billion for the next budget year…

BERLIN – A closely watched survey shows German consumer confidence has increased again, but its authors cautioned the British vote to leave the European Union could bring it down in coming months.
The GfK research group said Wednesday its forward-looking consumer climate index rose to 10.1 points for July from 9.8 in June.
The 2,000 consumers surveyed for the report on behalf of the European Commission were contacted before the British referendum, however, and GfK said if the “Brexit” vote means the German and other European economies start to falter, things could rapidly change.
GfK says it’s “expected that the current uncertainty in the financial markets will also be felt by German consumers.”
The extent “depends on how serious the financial implications will be and how discussions develop within the European Union.”
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Can you retire when you have $500,000 invested?
How about $750,000 like blogger Tim Stobbs believes?
What about $1 million?
Need more?
I recently read an article on Retire by 40 that suggested $5 million (in net worth) isn’t even enough for some.  Geez.  The Retire by 40 post recalled this article about a Canadian couple struggling to make ends meet, with a net worth of $4 million.  From the article, the struggle was related to the “present monthly expenditures of $4,274 on wine, restaurants, clothing and grooming, travel and their golf club” (membership).  That’s a huge a burn rate on those items if you ask me – but to each their own.
As the saying goes, the more you want, the more you spend.  This is not a financial myth, it’s a matter of fact for many people today.  Most people seem to spend up to their income level (and sometimes much more).  Cheap credit undoubtedly fuels that.  Lack of financial literacy is another…