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Mergers and acquisitions (M&As) in the payments industry reached a record high in 2019. M&A deals spiked from $31.8 billion in H1 2018 to a total of $116.6 billion in H1 2019, per Dealogic.

Three deals made up the majority of funding activity: Fiserv bought First Data for $22 billion, FIS acquired Worldpay for $43 billion, and Global Payments scooped up TSYS for $21.5 billion. Of note, although these deals didn't close until the back half of the year, Dealogic includes the activity in H1 2019's total, when the deals were presented; Dealogic's deal values also differ slightly from the closing values.

The inking of three deals of this magnitude in such a short period highlights an important development in the payments space — the need to consolidate. Startups like Adyen, Stripe, and Square have disrupted the industry, solving friction points for consumers and businesses. Amid the new status quo, incumbent payments firms are struggling to meet their customers' demands, which is forcing them to team up and consolidate to better serve their clientele.

In the Fintech Megadeals report, Business Insider Intelligence explores the key drivers that are fueling consolidation in the payments space. We then take a closer look at the three biggest payments acquisitions we've seen so far this year, and discuss each player's business model; evaluate the strengths, weaknesses, opportunities, and threats of each merger; and highlight the industry importance of the three deals. Lastly, we evaluate what consolidation in the fintech industry will look like in the future.

The companies mentioned in this report are: Adyen, FIS, Fiserv, First Data, Global Payments, Payoneer, Square, Stripe, TSYS, and Worldpay.

Here are some of the key takeaways from the report:

• Payments is arguably the most mature segment of fintech, and the industry has been disrupted by digitally enabled and innovative solutions from new entrants for a long time, likely because there are multiple friction points for consumers and businesses
• The need for consolidation in the payments space is being fueled by four drivers: changing client demands, competition from startups, increased pricing pressures, and low margins in the space.
• All three of the megadeals — Fiserv and First Data, FIS and Worldpay, and Global Payments and TSYS — were partly defense plays from incumbents to combat competition from agile startups in the space, as well as to increase their transaction volumes to better accommodate low margins and fees. 
• M&A activity in fintech will continue and start to involve smaller players, with acquisitions being more targeted at areas with many friction points.

 In full, the report:

• Explains the reasons behind consolidation in the payments space.
• Highlights the three megadeals that were struck in the first half of 2019.
• Evaluates the strengths, weaknesses, opportunities, and threats that each merger offers for the companies involved.
• Outlines what the future of consolidation in payments and fintech will look like.

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1. Purchase & download the full report from our research store. >> Purchase & Download Now
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• Credit cards can be a blessing for your finances, but they can also be the cause of financial struggle, stress, and even bankruptcy. The outcome of your credit use ultimately depends on whether you use credit responsibly.
• There are many credit card lessons you don't want to learn the hard way, but most of the biggest problems can be avoided if you only charge purchases you can afford to pay off.
• Paying your credit card bill late can be a death knell for your credit score, even if you only make this mistake a few times. Keep in mind that your payment history is the most important factor that makes up your credit score, and act accordingly.
• See Business Insider's list of the best rewards credit cards »

Credit cards can be a blessing or a curse — it all depends on how you use them. If you're using credit in order to earn rewards or gain important consumer protections but you always pay your bill in full, then credit cards can easily leave you "ahead."

But someone has to pay for all the lucrative rewards the rest of us earn, and they pay out the nose thanks to credit card interest rates that are often sky-high.

Will you be on the winning end of credit, or the losing end? It's really up to you, although there are definitely situations where your finances spin out of control whether you want them to or not. Either way, credit cards really can teach some life-altering lessons, including some that hurt your pride more than your pocketbook.

Here are some of the most common credit card lessons you should really try to avoid.

Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back. 

1. Don't miss out on a big sign-up bonus

Many of the top rewards cards and travel credit cards offer big initial bonuses for consumers who can meet a minimum spending requirement within a few months. For example, the Chase Sapphire Preferred Card gives you 60,000 points (worth $750 in travel booked through Chase) after you spend $4,000 within three months of account opening. This is an exceptional rate of return if you were going to spend that amount of money anyway, which is highly possible if you typically use your credit card for groceries, gas, and regular bills.

But the devil is in the details of these offers, and they don't leave any room for error at all. You must meet the minimum spending requirement within three months of the day you open your account — not the day you receive your card. If you're even a day late, you'll miss out on the bonus and there will be nothing you can do.

Trust us when we say that you don't want to learn this lesson the hard way. Make sure to plan your spending so you're hitting the minimum spending requirement early on.

Earn 60,000 points: Click here to learn more about the Chase Sapphire Preferred »

2. It's not worth overspending to earn rewards

Another mistake many people make is overspending to earn rewards. It's easy to covet a big sign-up bonus or the ongoing rewards you can rack up on a big purchase — only to wind up with a balance you can't actually afford to repay.

What happens then? All of a sudden, you're paying 17% APR or more for purchases when you only earn 1% to 3% back in rewards to begin with.

Overspending to earn more rewards is bad math that never, ever works out in your favor. You should only pursue credit card rewards and sign-up bonuses if you know for sure you can pay your balance off in full — and if you're making purchases you planned to make anyway.

Read more:The best credit cards with intro APR offers

3. Remember to take annual fees into account

Many of the top travel credit cards charge annual fees to account for exceptional travel benefits like airport lounge access, Global Entry or TSA PreCheck application fee credits, annual travel credits, and more. However, these fees can easily add up fast if you're not careful — especially since cards like the Chase Sapphire Reserve and the Platinum Card® from American Express charge $550 annual fees.

At the end of the day, you should only pay an annual fee on a credit card if you know for sure you're getting more value in return. If you're paying fees without taking advantage of cardholder perks or earning any rewards, you're not doing yourself any favors.

4. Don't forget to use important credit card perks

Speaking of cardholder perks, there's nothing wrong with paying a credit card's annual fee to access them. However, you should make sure you're using card perks if you hope to get your money's worth in the end. If you forget about your perks and let them lapse, you're setting money on fire over the long run.

This is especially true with annual credits, although these can be difficult to use sometimes. For example, the Platinum Card from American Express doles out up to $200 in Uber credits each year, but this credit is broken up into $15 per month increments (plus $35 in December). The credits don't "roll over," so you lose them if you don't use them.

The same is true with the benefit of up to $200 in airline fee credit on the Platinum Card from Amex, which will simply lapse if you don't charge incidental travel expenses from your chosen airline to your card each year.

The bottom line: Make sure you know and understand all your credit card's perks and benefits so you can extract maximum value from each card in your wallet.

Click here to learn more about the Amex Platinum card »

5. Always pay your credit card bill on time

You may believe that a late payment on your credit card every once in a while can't do any harm, but this is absolutely false. Your payment history is the most important factor that makes up your FICO score, with 35% of your score made up by whether you pay your bills on time. This means that, when you pay your credit card bill late, there's a strong possibility your credit score will be negatively impacted right away.

You should always strive to pay your bills early or on time, but if you do happen to pay your credit card bill late, you can always call your credit card company and ask them to remove the late payment from your account. There's a good possibility they'll do this once as a courtesy, but not for subsequent late payments. Either way, you can ask, and the worst that can happen is them saying no.

See Business Insider's list of the best rewards credit cards »

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• Uber reported quarterly earnings Thursday that exceeded Wall Street's expectations. 
• Shares surged as much as 9% in early trading Friday. 
• Uber also announced that it will reach profitability this year, earlier than its previous goal of reaching profitability on an Ebitda-adjusted basis in 2021. 
• Watch Uber trade live on Markets Insider.
• Read more on Business Insider.

Uber just pushed up its timeline to profitability, and investors like it. 

Shares of the ride-hailing giant surged as much as 9% in early trading Friday to $40.29 per share after the company on Thursday reported fiscal fourth quarter 2019 earnings that exceeded analysts expectations. 

Here's what the company reported, versus what analysts at Bloomberg expected: 

• Adjusted revenue: $3.73 billion, in line with expectations
• Loss per share: 64 cents versus an expected 65 cents
• Adjusted net loss: $615 million versus an expected $713 million

On an earnings call with analysts on Thursday, CEO Dara Khosrowshahi announced that the company would achieve profitability on an Ebitda-adjusted basis in the fourth quarter of 2020, about a year earlier than previously thought. 

"With many of the one-time changes from 2019 behind us, we're excited to sharpen our focus on execution to grow our business at massive scale," Khosrowshahi said on the call. 

The updated timeline is important as profitability has been a main concern for Uber investors. The company was unprofitable and didn't have a clear timeline for achieving the goal when it went public in May 2019. In the first months of Uber's life as a public company, its massive losses also weighed on the share price. 

But in the last few quarters, Uber has focused more on its path to turning a profit and the strongest parts of the business, including Uber Eats. 

The results were "a huge step forward" for the company and it "shows the business model is starting to hit another gear with a re-rating in the stock now underway," Daniel Ives of Wedbush wrote in a note Friday, highlighting strength in Uber Eats, which was up 44% to $1.7 billion in bookings in the quarter. 

In addition, Uber's rides business is showing improvement in higher revenue per ride, Ives said. He raised his price target to $52 from $50 and maintained his "outperform" rating on the company. 

Other analysts also pointed to Uber's focus on the quality of bookings, as the company works to lower the amount of coupons and discounts it offers to riders. 

The push for quality "shows discipline as Uber emphasized the era of growth at all costs is over," wrote Doug Anmuth of JPMorgan in a Friday note. He reiterated his $51 price target and "overweight" rating on Uber. 

Anmuth also wrote that Uber's rosy results should be a positive for competitor Lyft, due to report earnings next week. Shares of Lyft traded about 4% higher Friday. 

Wall Street analysts are overwhelmingly bullish on Uber, which has a consensus price target of $48 and 31 "buy" ratings, 11 "hold" ratings, and zero "sell" ratings, according to Bloomberg data.  

Uber has gained 25% year-to-date through Thursday's close.

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The UK's Open Banking regulation came into effect at the beginning of 2018 to boost competition in the country and create a level playing field between legacy players and startups in the finance industry, by requiring banks to open up customer-permitted data to third parties.

A new report from Intuit QuickBooks explores how 509 senior decision-makers at small- and medium-sized businesses (SMBs) feel about Open Banking and the current financial services landscape.

Here are the key insights from the report:

1) Less than one-third of SMBs in the UK see the banking system as modern or competitive.

Additionally, just 30% reported that they feel confident about keeping up with their business finances in the current banking system, while only 46% said they have a clear picture of their business finances. That said, 55% of respondents to a separate study from Adaptive cited by QuickBooks reported that they would be willing to pay for services that would free up time to focus on their core business, indicating an opportunity for fintechs to step in.

2) A significant share of SMBs don't feel appropriately served by financial institutions.

Forty-six percent of respondents have experienced a lack of access to finance, which has held back their business from growing. This further illustrates that current lending options for SMBs aren't sufficient to fulfill their finance needs, giving fintechs an opening to bridge this gap with more suitable services.

3) Most UK SMBs (60%) are aware of Open Banking, though fewer are convinced of its efficacy.

Fifty-one percent of respondents said that they trust Open Banking a great deal or a fair amount to use within their businesses. Trust was higher among younger demographics, with 78% of respondents between 18 and 34 saying that they trust the regulation, likely as this group has grown up in a tech-enabled society and may be more receptive to using new technologies enabled by Open Banking. Given SMBs' general familiarity with and trust in Open Banking, fintechs looking to operate Open Banking-enabled services should have a large addressable market to target.

The findings suggest that fintechs wanting to leverage Open Banking data for SMBs should focus on money management tools and finance options. Because there is an evident appetite among SMBs for tools to help manage their finances, fintechs should develop tools that utilize Open Banking data to assist with functions like expenses, invoices, payroll, and taxes. Additionally, fintechs could make more financing options available for SMBs, including options that leverage alternative data to make a lending decision. And to make the most of Open Banking data and excel in the SMB open banking space, fintechs should consider combining finance management and lending offerings within one platform, which could boost user convenience and loyalty.

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• Ford announced leadership changes on Friday, naming Jim Farley chief operating officer.
• Automotive president Joe Hinrichs is retiring after 19 years with the carmaker.
• Ford is undergoing of an $11 billion restructuring under CEO Jim Hackett.
• Visit Business Insider's homepage for more stories.

Ford announced on Friday that Joe Hinrichs would retire as the carmaker's president of automotive, a position he was named to just last April.

Ford also said Jim Farley, who formerly headed up the company's overall strategy, would become chief operating officer, "reporting to president and CEO Jim Hackett [and] responsible for all global markets and automotive operations, Ford Smart Mobility and autonomous vehicles," as the carmaker put it in a statement.

Ford missed Wall Street expectations for fourth-quarter 2019 earnings and offered lower guidance for its 2020 outlook. The company is in the midst of an $11 billion restructuring under CEO Jim Hackett, who replaced Mark Fields in 2017 and has since pushed Ford to distance itself from its legacy business and embrace new opportunities in electric vehicles, autonomous vehicles, and connectivity.

Ford said the changes would take effect March 1.

"I'm thrilled and humbled by the opportunity to work with Jim Hackett and the entire Ford team to advance our vision to design increasingly intelligent vehicles and connect them to the world around us, all to make life better for our customers and communities," Farley said in a statement. "Ford is blessed with great people and an incredible brand, and together we will build a very bright future."

Car guys at the wheel

When Hackett took over in 2017, fears that the former Steelcase CEO would be unable to manage Ford's cash-generating vehicle business, heavy on pickups and SUVs, were eased by the elevation of both Hinrichs and Farley. Both were seen as capable and experienced "car guys" who could keep the core business on an even keel while Hackett recast Ford's narrative to compete with new entrants, such as Tesla.

Ford shares have been in decline, however. On Friday, they were down over 30% since early January 2018.

Hinrichs spent 19 years at Ford and was widely admired for his broad understanding of the carmaker's complicated operations.

But in 2019, the company endured an unexpected stumble with the rollout of its new Explorer SUV, a critically important vehicle and a reliable cash generator.

With a redesign and launch of Ford's F-150 — the company's marquee product — in 2020 the company's leadership, including a board led by chairman and Henry Ford great-grandson Bill Ford, might have decided that a major change was called for.

That was the initial speculation. But in a call with reporters after the news was announced, Hackett dismissed the notion.

"This was not tied to that at all," he said.

Hackett also said that he has no intention of stepping down as CEO after three years, and that he's believed he and Farley should have an excellent working relationship.

Ford also announced that Hau Thai-Tang would take on "an expanded role in delivering great products, services and experiences for Ford customers."

Thai-Tang has tremendous credibility among Ford's vehicle elite thanks to his management of the 2005 Mustang program.

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• I've been a Costco devotee my whole life — I was practically raised on weekend trips to the bulk retailer.
• I still do a ton of my shopping at Costco, and there are five reasons I especially love the store.
• Costco has great travel deals, stylish clothes, affordable vaccinations, and delicious cooked food options. And the Costco Anywhere Visa is also my favorite cash back card.
• You can use the Costco Anywhere Visa® Card by Citi to earn 2% back on eligible in-store and online Costco purchases.

If you know anything about me, you know I'd bleed for Costco.

As a native of the Pacific Northwest (Costco's motherland) I grew up on Costco pizza and Saturday Sample Days. My parents still go to Costco for no specific reason, but rather to browse (and maybe buy bananas for my dad's protein shakes). We're a Costco family, and the price of a $60 annual membership (that I split with my grandma) is absolutely worth it. 

Beyond just the jumbo packs of toilet paper, huge bagged salads, and oversized boxes of La Croix, here are five things you might not know you can use your Costco membership for.

(Grab your samples and let's do this.)

Costco has some of the best travel deals

For the longest time, I didn't pay enough attention to the lines at the Costco travel desk. You probably know where I'm talking about — the desk with giant photos of beautiful yachts, fancy cars, and families smiling at Disneyland. That's exactly the smile I have on my face when I use Costco to book travel deals. 

My absolute favorite Costco travel perk is its rental car packages. Costco partners with reputable brands (including Hertz, Avis, Alamo, etc.) and offers steep discounts (as high as 25% off). 

If you don't want to go through an in-store sales rep, it's easy to book online to compare companies and deals. Costco also waives the second-driver free, which is perfect if you have a travel companion. 

Costco Anywhere Visa cash back rewards program

I signed up for the Costco Anywhere Visa by Citi nearly two years ago and it's changed my shopping game while putting money in my pocket. Here's the cash back breakdown:

• 4% cash back on eligible gas purchases up to $7,000 per year (1% cash back after that)
• 3% cash back on restaurants and eligible travel purchases
• 2% cash back on Costco and Costco.com purchases
• 1% cash back on all other eligible purchases

The Costco Anywhere Visa has no annual fee with a paid Costco membership. See Business Insider's review of the Costco Anywhere Visa card for more»

Stylish and affordable clothing 

If I had a nickel for every time someone complimented me on my leggings at barre class, I'd be able to afford five workout sets from Costco. 

Costco offers high-quality leggings, loungewear, and tanks that I love wearing to the gym (or, let's be honest, around the house while I watch Netflix). I love buying Costco's matching sets, or having them shipped to my door.

Some of my other favorite clothing purchases from Costco are socks (great for stocking stuffers), winter wear, and even jeans. If they don't fit, I just take them back next time in person. Costco has great customer service and I've never had an issue returning an item that didn't meet my needs.

Delicious cooked food options

I'm referring to Costco's signature chickens, pizza slices, and hot dogs. The prices for most of Costco's food court options (salads, pizza, hot dogs, etc.) have barely increased since the 1980s. (The hot dogs have remained steady at $1.50.)

The idea behind the low prices is to encourage shoppers to buy bigger-ticket items while they're browsing the aisles with full stomachs — no one likes to shop hungry. 

At my Costco, people line up for the rotisserie chickens because they're only $4.99. Big enough for dinner that night — plus a salad topping the next day — this is one of Costco's best and most convenient deals. 

Free health screenings and low-cost vaccinations

You're probably aware Costco has a pharmacy and an eyewear department, but you might not know that it also offers free health screenings for diseases such as diabetes and osteoporosis. 

Different locations also have screening events, so if you're interested, make sure to get in contact with your local Costco location to see what's available near you.

Another cool tip about the Costco pharmacy: It offers competitive, low-cost vaccinations. While the Affordable Care Act might require health insurance to cover your basic vaccinations, not all vaccinations are deemed mandatory. Check with your insurance company to find out your options (Costco may be your best bet).

As you can see, Costco is my favorite place to shop. Check out your local Costco for all the best deals and stock up that freezer!

Earn 2% back on eligible Costco purchases: Click here to learn more about the Costco Anywhere Visa»

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• Opportunity cost — the investment choices you didn't make — can easily be your biggest money mistakes. That's what happened to me.
• Now, I'm a self-made millionaire, but I would have built wealth much quicker had I opened an investment account in my teens. More specifically, I wish I'd opened a Roth IRA.
• Don't let a lack of knowledge or fear of making a mistake keep you from building wealth. Investing early in life — even in your teens — can be worth hundreds of thousands of dollars to you later on.
• SmartAsset's free tool can help you find a financial adviser to create your own investing plan »

There's a fairly long list of mistakes on my journey to becoming a self-made millionaire.

For example, there was the time I lost $5,000 on a penny stock. I should have known better. There was also a failed business venture that, instead of making me a fortune, ended up costing me $8,000. And during the 2008 stock market crash, I was in a position to buy a bunch of individual stocks that could have earned me 20 times my investment. I didn't.

Then there was the crash-and-burn from failing at real estate investing. I still have nightmares about that one. It might have been the second-biggest financial mistake I've made, but I'd have to get a calculator and crunch some numbers to make that point official.

No, the biggest financial mistake this self-made millionaire made wasn't what I did, but what I didn't do. At least not early enough in my life.

My biggest financial mistake was the years I missed investing

Opportunity cost is that unseen payoff you miss out on because you're busy doing something else. You can think of it as the answer to the question, how much more would I be ahead if I chose a different path? In my own young life, the biggest opportunity cost — or financial mistake — was not opening a Roth IRA when I was 18 or 19 years old.

You might think that seems a bit too young, and perhaps for many people that age, it is. But it wasn't in my case, and that's why it was a major financial mistake. You see, I had the resources to open a Roth IRA when I was just 18 years old. If I had, my climb to millionaire status would have happened quicker and more easily.

Why didn't I? Part of the reason was a lack of knowledge. I simply didn't understand all the benefits of a Roth IRA at the time. What really stopped me, though, was my own self-limiting belief that I didn't have enough money to get started. Probably like a lot of people, I thought I needed tens of thousands of dollars to begin investing. But that wasn't true when I was 18, and it's even less true today. There are many ways and account types you can begin investing with just a few hundred dollars.

I've had my "happily ever after" financial story anyway. That's even though I didn't start investing until I was in my mid-20s. As the saying goes, better late than never. But you don't need to be late.

Why a Roth IRA?

You're probably wondering why I'm specifically focusing on the Roth IRA. Personally, I absolutely love the Roth IRA and everything about it. It's one of the foundational investment accounts to have in just about anyone's portfolio.

Without much effort, I've easily come up with 10 reasons why this is true:

1. A Roth IRA creates a source of tax-free income in retirement. At least some of your retirement funds should be in a Roth IRA because it represents a form of retirement income diversification.
2. The investment earnings in the account grow on a tax deferred (and eventually, tax-free) basis. That removes the tax cost from the investing equation.
3. You can contribute up to $6,000 per year to a Roth IRA, or $7,000 if you're 50 or older.
4. You can participate in a Roth IRA even if you don't have an employer plan at work.
5. But you can also have a Roth IRA in addition to an employer-sponsored retirement plan (subject to income limits).
6. Just like a traditional IRA, a Roth IRA can be held in a self-directed account, not only allowing you to invest the way you want, but also giving you nearly unlimited investment options.
7. A Roth IRA contribution is not tax-deductible. But when you're young and your income is relatively low, a tax deduction is less important.
8. Roth IRAs enable you to withdraw your contributions early, without being subject to either ordinary income tax or the 10% early withdrawal penalty. As a young person, you may need that flexibility.
9. If you do withdraw accumulated investments from your Roth IRA, you'll be exempt from the 10% penalty for certain purposes. Examples include education expenses or up to $10,000 for the purchase of a first home.
10. Unlike employer-sponsored plans, there are no investing rules to meet with a Roth IRA.

I'm certainly not against investing through other vehicles. If you have an employer-sponsored retirement plan at work, or extra funds to plow into a taxable investment account, you should take advantage of either or both. But with all the advantages offered by a Roth IRA, you should have one in your investment mix.

7 years can make a huge difference with a Roth IRA

Let's start with a credible assumption. Whether you begin investing at 18 or 25, you'll probably have all or nearly all of your portfolio invested in stocks. After all, at such a young age, you'll have decades to recover any losses you might sustain in the short run.

And why would an 18- or 25-year-old want bonds, anyway? Based on the S&P 500, the stock market has provided an average annual rate of return of around 10%. Bonds aren't even close.

If you begin investing $6,000 per year in a Roth IRA at age 25, you'll have $156,435 saved by the time you're 40. Out of that, $90,000 will be your contributions, and $66,435 will be investment earnings.

But watch what happens when you begin saving at 18 and how much difference an extra seven years of investing can make: By age 40, you'll have accumulated $305,072. That's represented by $132,000 in contributions, and $170,072 in accumulated investment earnings.

In addition to the fact that the extra seven years of contributions nearly doubles your account value by age 40, a larger percentage of your portfolio will be represented by accumulated investment earnings. By starting at 25, 57.5% of your account value at age 40 will be your investment contributions. But if you start making those contributions at 18, only 43.3% of your account value at 40 will be your contributions.

Another way to look at it is the longer you invest, the bigger the impact investment earnings will have on the size of your portfolio.

Let's look at it from yet another angle. Using the 10% annual return on the S&P 500, the portfolio you begin building at 25 will generate about $15,644 in investment earnings in the next 12 months.

But using the portfolio you began building at 18 will generate $30,507 investment earnings in the next 12 months. That's nearly twice as much as the investment earnings you'll have if you began investing at 25.

Start investing as early as possible — even if you don't plan to be a millionaire

I suppose one of the issues preventing the very young from investing is the expectation that you'll get rich someday. We can add a lack of understanding of the strategies and tactics needed to actually make that happen. All are fully understandable.

But if you're going to get anywhere in life — especially if you'd like to be wealthy someday — you're going to have to take some risks. That doesn't mean doing something crazy, but you will have to lay out a plan. That plan doesn't need to be perfect, but mostly a system that enables you to build wealth methodically.

I've emphasized the Roth IRA in this article, but that's certainly not the only option. You can also choose a traditional IRA, or also a taxable investment account — though there will be tax consequences if you go that route.

The idea is to set the investing foundation as early in life as possible. A Roth IRA is an excellent choice, because it can be started by anyone with earned income, but also because of the tax-free investing angle. And even if it doesn't make you a millionaire by 40, making regular contributions throughout your life will go a long way toward ensuring a comfortable retirement.

I don't spend too much time agonizing over not investing earlier in life. But if I have to identify the biggest mistake this self-made millionaire has made, waiting a few years longer than I needed to is definitely the front runner.

Don't let that happen to you. Begin investing as soon as you're in a financial position to do so, even if it doesn't seem like a perfect plan at the time. In fact, one of the most exciting aspects of building wealth is how much you'll learn as you go forward. But you have to get started before that process begins.

Starting from where you are right now is the very best time.

SmartAsset's free tool can help you find a financial adviser to create your own investing plan »

Jeff Rose is an entrepreneur disguised as a financial adviser, author, and blogger. Jeff is an Iraqi combat veteran who served in the Army National Guard for nine years, including a 17-month deployment to Iraq in 2005. He's best known for his award-winning blog GoodFinancialCents.com and book, "Soldier of Finance: Take Charge of Your Money and Invest in Your Future." He's also the founder of Wealth Hacker Labs, a movement to teach accelerated wealth-building strategies to future generations.  

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• Warner Music Group filed for an IPO with the Securities and Exchange Commission on Thursday as streaming services continue to boost the music industry.
• The offering is Warner's second, as a slew of private-equity firms took the company public in 2005 after buying it from Time Warner the previous year.
• The S-1 filing follows Vivendi selling a 10% stake in Universal to Tencent in late December for €3 billion ($3.4 billion). The sale established Universal as the world's largest music company.
• Visit the Business Insider homepage for more stories.

Warner Music Group filed for an initial public offering with the Securities and Exchange Commission on Thursday as streaming platforms continue to drive the music industry higher.

The company is the third-largest of the industry's "big three," which also includes Sony Music Entertainment and, the biggest firm, Universal Music Group. Warner is currently owned by Access Industries, which took the company private in 2011 for $3.3 billion.

Before then, a group of private-equity firms purchased the conglomerate from Time Warner in 2004 for $2.6 billion and took Warner public the following year.

Access' owner, billionaire Len Blavatnik, will hold voting control of the public company, according to the SEC filing. Warner's label portfolio includes Atlantic Records, Parlophone, Warner Records, and Spinnin' Records, among others.

Warner's S-1 follows Vivendi selling a 10% stake in Universal to Tencent in late December for €3 billion ($3.4 billion). The purchase valued Universal at over $33 billion, establishing it as the world's largest music company.

Warner's artist lineup includes Janelle Monae, Lizzo, Ed Sheeran, Skrillex, Jason Derulo, and Wu-Tang Clan, among many others.

Streaming services have quickly become the music industry's leading revenue driver as physical records and CDs slumped through the 2000s. Label sales have gained an average 7% annually since 2014 as services like Apple Music and Spotify gave labels access to a growing consumer base, according to Bloomberg.

Morgan Stanley, Goldman Sachs, and Credit Suisse will serve as underwriters for the IPO.

Now read more markets coverage from Markets Insider and Business Insider:

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NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption

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Bank of America (BofA) announced that it earned a record 418 patents from the United States Patent Office last year, beating the 318 patents it earned in 2018, when it was the year's top financial institution patent holder, according to the Intellectual Property Owners Association.

BofA's overall patent portfolio now consists of over 3,900 patents and applications.

The bank has been working hard on some high-profile proprietary technology in the last few months, such as working with IBM to develop a public cloud for banks. 

The forthcoming service will be tailored to the cloud computing needs of banks, with features like automated security tools and top-level encryption, in which data is converted into code to restrict unauthorized access. And given that many banks harbor concerns about data privacy and security when it comes to cloud adoption, a cloud designed in part by banks, for banks could quickly gain traction with financial institutions.

BofA has fleshed out its virtual assistant, Erica. Since its May 2018 launch, Erica has gained capabilities like alerting users about upcoming bills, and the assistant's popularity is growing: It hit the 10 million user mark in December 2019.

And Erica can help inform the most advantageous upgrades to itself, as it gathers data on the requests each customer makes of it, informing the bank on the features customers want but that aren't currently supported, said David Tyrie, BofA's head of advanced solutions and digital banking, per Yahoo Finance. For example, the ability to show recurring charges and update the card information used to carry out those charges is a function rolling out to Erica in early 2020 because customers who had lost their credit or debit cards wanted it.

And BofA's new patent numbers suggest that it is only going to accelerate its pace of innovation. While the 418 patents it earned in 2019 marked a 31% year-over-year (YoY) increase, the 318 patents BofA earned in 2018 marked only a 9% YoY growth. This is a significant acceleration, which suggests that 2020 could be a year in which BofA launches a bumper crop of new technologies and digital banking capabilities.

As the bank works to innovate, however, it should also be mindful of the risks of developing new tech in-house, namely that crafting proprietary tools takes time and resources, and that results are not always guaranteed. A sterling example is Chase's digital-only bank Finn, which it ended up shuttering, citing poor adoption because of a failure to differentiate from its other options.

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• Rep. Alexandria Ocasio-Cortez blasted the idea of "pulling yourself up by your bootstraps."
• The progressive lawmaker argued nobody succeeds alone, and some people have advantages over others.
• "It's a physical impossibility to lift yourself up by a bootstrap, by your shoelaces," she tweeted.
• Ocasio-Cortez said it would be "narcissistic" to claim she bootstrapped her way into office.
• Visit Business Insider's homepage for more stories.

  ---

Rep. Alexandria Ocasio-Cortez dismissed the idea of "pulling yourself up by your bootstraps" this week, arguing nobody succeeds without help or support, and many Americans face an uneven playing field.

"It's a physical impossibility to lift yourself up by a bootstrap, by your shoelaces," the freshman lawmaker known as AOC said during a House of Representatives committee meeting, according to a Public Citizen video she retweeted. "The whole thing is a joke."

After conservatives slammed her comments, the progressive firebrand tweeted a NBC News video of Martin Luther King criticizing the concept of bootstrapping for African-Americans. The civil rights leader argued slavery, segregation, and stigmatization left many of them "bootless."

"I believe we ought to do all we can and seek to lift ourselves by our own bootstrap," King said in the clip. However, he added, "It's a cruel jest to say to a bootless man that he ought to lift himself up by his own bootstraps."

Ocasio-Cortez doubled down, firing off three more tweets on the subject.

In the first one, she questioned whether Republicans would call it bootstrapping if someone attended public school, enlisted in the government-funded military, received a tax break to start a business or buy a home, or their parents used food assistance to feed them.

The second tweet, also directed at Republicans, queried whether it counted as bootstrapping if someone started a business with a $60 million loan from their father, or benefited from the Trump administration's $2 trillion tax break. "Asking for a corrupt president & his friends," Ocasio-Cortez added.

In the third tweet, Ocasio-Cortez pointed to her unlikely path to Congress as an example of something she couldn't have done alone.

"I worked my butt off to get elected against all odds, without any special connections or money," she wrote. "I worked double shifts and wore through my shoes, outspent 10:1 to get elected."

"Even w/ all that hard work, it would be narcissistic to pretend I 'bootstrapped' it alone and w/o others," she added.

Ocasio-Cortez's comments come as Democratic presidential candidates including Sen. Bernie Sanders, Sen. Elizabeth Warren, and billionaire Michael Bloomberg campaign on reducing wealth inequality.

Other high-profile figures have sounded the alarm on the wealth gap: Microsoft cofounder Bill Gates, one of the world's richest people, said "the rich should pay more" in a New Year's blog post.

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NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption

• The US labor market entered 2020 on a stronger-than-expected note, adding jobs for a record 112th month.
• The Bureau of Labor Statistics on Friday said 225,000 nonfarm payrolls were created in January, compared with economist forecasts for 165,000.
• Average hourly earnings rose 3.1% from the same month last year, compared with a 2.9% year-over-year rise in December.
• Visit Business Insider's homepage for more stories.

The US labor market remained on solid footing at the beginning of 2020, adding jobs for a record 112th month.

The Bureau of Labor Statistics on Friday said 225,000 nonfarm payrolls were created in January, compared with economist forecasts for 164,000. The unemployment rate edged higher to 3.6%, still near its lowest level in half a century.

Average hourly earnings rose 3.1% from the same month last year, better than the 2.9% year-over-year increase in December. While wage growth has continued to outpace inflation, it has held below the pace economists would hope for with historically strong employment levels.

"It remains something of a mystery that firms are able to hire workers without having to pay more in wages," said Eric Winograd, a senior economist at AllianceBernstein.

The report also included major revisions to data for 2018 and 2019, offering a more accurate picture of the labor market. Employers added about a half a million fewer jobs than initially thought during that period, in line with estimates released in August.

"The job market is strong, but not nearly as strong as thought," said Mark Zandi, the chief economist at Moody's Analytics. "This revision is well-anticipated so likely won't impact financial markets, but it may change perceptions regarding the strength of the labor market."

Still, the revisions were relatively small for an economy with over 150 million total jobs. To keep up with the pace of population growth, the US needs to add roughly 100,000 payrolls a month.

Low unemployment and faster wage gains were able to pull Americans from the sidelines at the fastest pace of the recovery last month. The labor-force participation rate rose to 63.4% in January, though that figure is still low compared with those of global peers.

"It's clear that plentiful work opportunities are enticing more people to enter, or in some cases re-enter, the labor market," said Jason Pride, the chief investment officer of private wealth at Glenmede.

Employers entered 2020 on steadier footing than a year earlier as consumer confidence climbed to historic highs and Americans continued to spend at a robust pace. With the economy expected to grow at a solid but slower pace in the 11-year expansion, the Federal Reserve has signaled it will hold interest rates steady after three cuts last year.

But the central bank has said it will closely monitor the rapidly spreading coronavirus in China. The virus has brought the second-largest economy to a near standstill and disrupted global supply chains.

"The January jobs report does not fully account for the impact of the coronavirus outbreak in China, which is disrupting global flows of goods and people," said Daniel Zhao, a senior economist at the career site Glassdoor.

Analysts and officials have said the outbreak could also stall a recent truce in a tit-for-tat trade dispute between the US and China, which has raised costs for employers and clouded the investment outlook. Tariffs have raised particular challenges for the manufacturing sector, which shed another 12,000 jobs in January.

But President Donald Trump is still likely to seize on the latest signs of the broader strength of the economy, the central pitch in his campaign for reelection in November. On Tuesday night at his third State of the Union address, Trump said his economic policies had led to a "blue-collar boom."

Read more: John Thompson grew a pair of investing funds by nearly 20,000%. He shares his one stock pick that could triple in the next few years — and explains why it's his largest holding.

SEE ALSO: Mnuchin says economy may fall short of Trump's 3% growth target in 2020

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NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption

• We asked a range of real estate insiders to give us recommendations for some of the best podcasts about proptech and the real estate industry at large.
• They came back with a list of 15 podcasts that they listen to to learn more about their craft, the tech in the space, and how to invest.
• Visit Business Insider's homepage for more stories.

We asked a range of real estate insiders to give us recommendations for some of the best podcasts about proptech and the real estate industry at large. Podcasts have become a new media powerhouse, with $1 billion of revenue expected in 2021. 

These insiders came back with podcasts that range from interviews with real estate executives to how to guides for investing in real estate or working as real estate agent.

Earlier, we'd also asked insiders for book recommendations, and compiled 27 titles that will help you understand the colorful personalities and powerful forces shaping the industry

We created a list with 15 podcast selections, compiled with summaries of their content and, with some of the podcasts, commentary about them from the insiders who sent them our way. 

SEE ALSO: Real estate insiders say these 27 books will help you understand the colorful personalities and powerful forces shaping the industry

Leading Voices in Real Estate

"Leading Voices in Real Estate" is hosted by Matt Slepin, the founder of real estate executive search firm Terra Search Partners. Slepin interviews a range of real estate executives. Recent guests include Fifth Wall cofounder and managing partner Brad Greiwe and Freddie Mac CEO David Brickman. 

Jamie Hodari, CEO of Industrious, was one of three respondents who recommended the podcast. 

"I find a lot of proptech and RE podcast can veer too promotional and this one isn't totally immune to that but has a lot of substance," he wrote to Business Insider. 

Mark Zettl, President of Property Management at JLL, recommended the podcast as well. 

BiggerPockets

BiggerPockets was also recommended by three different insiders, The show features interviews with investors and entrepreneurs with a focus on practical advice and motivation. 

"The tone of the podcast is as if the hosts and guests have been long time friends casually chatting about the real estate industry which makes it friendly yet engaging," wrote Nima Wedlake, a principal at Thomvest Ventures. 

 Kaitlin Tang, an agent at REAL New York, wrote that the podcast imparts "unparalleled knowledge from the personal experiences of real estate investors and entrepreneurs." 

Omar Eltorai, a Market Analyst of Reonomy, finds the podcast applicable to anyone in the industry, "From first-time hobby investors to owners looking to scale their investment firms to the next level." 

The podcast is also an hour long and released weekly, more often than many of the other podcasts on the list. 

Nareit REIT Report

This podcast, produced by REIT trade association Nareit, delves deep into insitutional real estate. The shows are roughly 15 minutes long, and feature interviews with guests who explain how news and market conditions effect REITs, and by extension the whole institutional real estate market. 

This podcast is also weekly, and touches everything from the industrial and logistics sector to senior housing. 

‎Tech Nest: The Real Estate and Tech Show

Tech Nest is the first podcast non our list that focuses specifically on proptech entrepreneurs. Nate Smoyer, the director of marketing at residential landlord software company Avail, hosts the show and interviews entrepreneurs across proptech. 

Thomas Kurtzman, CEO and cofounder of Prevu, was a listener before he became a guest on the show. 

"Nate is one of the most thoughtful interviewers with a conversational style that is the perfect addition to your daily commute," Kurtzman wrote. 

Nima Wedlake from Thomvest Ventures wrote that the podcast gives him insight to his own research into proptech investments.

"The show promotes its guests to challenge the norms and share insight into the way we buy, sell and invest in real estate," Wedlake wrote. 

Industry Relations with Rob Hahn and Greg Robertson

Industry Relations, hosted by real estate bloggers/executives Rob Hahn (known as the Notorious R.O.B. in the industry because of his well-read blog) and Greg Robertson, is specifically focused on the specifics of the residential real estate industry.

Recent episodes dig into the intricacies of MLS policy and the ways that apps and new tech effect real esate agents. The podcast mixes practical advice for agents with a deep focus on how policy and tech trends will impact their future. 

The Real Estate Innovators

Real Estate Innovators is hosted by Ryan Cox, the managing partner of Founders Grove Capital, and focuses specifically on proptech and technological innovation. Cox interviews entrepreneurs and venture capitalists to track what's coming next in the future of real estate tech. 

Safi Aziz, a senior associate at MetaProp, wrote that it is the "Best collection of investors, operators and enthusiasts in the industry." Aziz also made sure to note that he has guested on the show. 

Thomas Kurtzman from Prevu wrote that the show is now approaching its 100th episode, and that Cox demonstrates "clear real estate domain expertise," with his "deep-dive questions."

The Real Market Podcast with Chris Rising

The Real Market is a news and trends focused podcast about the commercial real estate industry. Chris Rising, a developer who leads Rising Realty Partners, interviews analysts and executives in commercial real estate. The podcast follows proptech and the larger real estate market to give a holistic view of what's going on in commercial real estate. 

The Retail Focus Podcast

The Retail Focus Podcast, nominated by a spokesperson from CBRE, is a bit of an outlier on this list, as it is a broad survey across the retail industry. The weekly podcast combines analysis of news in the retail space with discussions of trends and the history of retail. 

A recent episode looks at "location-based retail tech" that allows retail operators to guide customers around a store, while other episodes look at non-traditional retail locations. 

Fifth Wall Podcast

Hosted by the largest real estate tech VC, Fifth Wall, this podcast has been inactive since 2018, but was nominated by Prevu's Thomas Kurtzman for its "insightful" interviews with portfolio companies and other leaders in the real estate tech world. 

Fifth Wall now produces a YouTube series entited Beyond the Fifth Wall, which brings the same insight to a new medium. Fifth Wall takes a widescreen view to real estate and tech, so their podcast and vlog touch on urbanism and transportation as well as traditional real estate tech.

Love Your City

This podcast was nominated by Karen Whitt, the president of Real Estate Management Services for Colliers US business. She liked how the podcast focuses on "how real estate intersects or integrates with people," taking a widescreen approach to real estate. 

The podcast is very focused on technology, publishing a few short episodes a month. It launched in September of last year.

Dislocation — Real Estate Tech, Proptech, CRETech

Dislocation is another disbanded podcast, with its most recent epsisode published in September 2018. Hosted by real estate analyst and author Dror Poleg and blogger David Friedlander, the podcast focused on proptech. The nine published episodes delved into construction tech, flex office, and real estate and climate change. 

Karen Whitt at Colliers said that she especially enjoyed the episode about the flex-office service Breather. 

The Nicole Bremner Podcast

Felicite Moorman, CEO at STRATIS IoT, has found this show to be an important resource as she expands her business into the UK and EU. Nicole Bremner is a London-based real estate investor and  interviews people from across the industry on the podcast.. 

"I really appreciate the diversity of both her multitude of guests and variety of issues in all facets of commercial and commercial residential real estate investing," Moorman wrote. "Participating on her show is a 2020 Goal List item for me!" 

Where We Buy: Retail Real Estate with James Cook

Greg Maloney, President and CEO of JLL Retail, recommended "Where We Buy," hosted by JLL's Americas Director of Retail Research James Cook. Cook interviews retail researchers from across the world about the trends they're watching and the strategies and tech that effective retail operators are using. 

The show has published episodes weekly since 2016, making it one of the longest lasting shows on the list. 

A Millennial's Guide to Real Estate Investing With Antoine Martel

This podcast, hosted by real estate investor Antoine Martel, is a practical, hands on guide to real estate investment, focusing specifically on millennials. Martel mixes his own personal story as an investor with interviews with other successful real estate owners. 

Charles Narwold, an agent at REAL New York, wrote that he learns something with every new episode. 

"This is a great podcast for anyone who is remotely interested in real estate investing, or for someone who already does it full time," Narwold wrote. 

The Deal with Danny Brown

This podcast, hosted by Los Angeles-based Compass agent Danny Brown, focuses on luxury real estate transactions. Brown interviews real estate agents and professionals in other fields about their success. The podcast isn't entirely focused on real estate, and instead makes connections between success in real estate and other fields. 

Brown publishes short episodes about the state of the real estate market as well as the longer interviews. 

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The Indian government moved to block merchant discount rates (MDRs) — the rates charged to merchants on transactions — on digital transactions via RuPay cards and the country's Unified Payments Interface (UPI) as of January 1, 2020, per Inc42.

For context, the UPI is a network that enables mobile bank-to-bank transactions. Removing these fees could make digital payments more attractive to merchants than other payment options that still carry additional fees, including those from foreign card networks, potentially boosting digital payment acceptance in India. But the lack of revenue from transactions could impact top digital payments companies in India, like Paytm and Google Pay.

Paytm is adding new products for merchants that could help it find new revenue and address its losses.

Paytm debuted an "All-in-One" point-of-sale (POS) solution that could boost its appeal to merchants. The POS tool accepts payments via the UPI, Paytm wallet, as well as credit and debit cards, and has been tested by over 150,000 merchants, according to Inc42.

The solution can also generate QR codes, print invoices, track cash payments, handle deferred payments, and help with customer management, among other capabilities. The offering's potential to handle all of a merchant's payment needs could deepen Paytm's connection with its existing merchant base and attract new sellers, especially because the device appears to work in several contexts since Paytm noted that it piloted the device for bus ticketing services, parking management, home delivery, and in other spaces.

This is part of Paytm's effort to court merchants and derive revenue from them, and it's particularly necessary as the company tries to boost revenue without an MDR and limit its losses. Paytm is aiming to cut its losses by over half in the next two years — it posted net losses of approximately $549 million in its fiscal year ended March 31, 2019 — and part of its initiative to do so includes building out its merchant network and winning revenue from them, per The Economic Times. Providing solutions like its new POS offering and payment management tools may build out its network and give it new revenue streams, helping it improve its bottom line.

Meanwhile, Google is looking to use its learnings in India to revamp its payment offerings globally, possibly to seek new revenue opportunities now that it can't implement an MDR in India. Alphabet CEO Sundar Pichai noted on the company's earnings call that its launch in India was successful and that its learnings from that will help inform global payment product improvements in 2020.

Google Pay is a top UPI transaction driver, but without an MDR it may struggle to bring in revenue in the market. This may be why the company is looking to revamp its payment capabilities beyond India, and might help explain why Google suggested the US Federal Reserve model its forthcoming real-time payments (RTP) network off of the UPI.

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• Credible is an online marketplace that makes it easy to shop for student loan products, mortgages, and credit cards.
• It only takes a few minutes to fill out Credible's application form and begin receiving personalized rates from multiple lenders.
• Credible is completely free to use and your credit score will not be affected by checking your rates.
• Learn more about what Credible can do for you »

We all love to save money on the things that we buy. And when it comes to groceries, clothes, or electronics, the average person knows exactly how to shop for the best deal.

When it comes to shopping for loans, though, many of us feel a bit more intimidated. Either we don't know where to start or we simply don't feel like dealing with the grueling process of contacting multiple lenders to get quotes.

But Credible is an online marketplace that's trying to simplify the process of shopping for rates on loans and credit cards. Its comparison tools could not only save you time, but could help you save a lot of money as well. To learn more, continue reading our full Credible review.

How does Credible work?

It's important to point out that Credible is not a lender. Instead, it's a middleman that connects lenders with borrowers. 

Credible originally made a name for itself as one of the first marketplaces to compare student loan refinance lenders. But it has expanded its services over time. Now, you can use Credible to shop for:

• Student loan refinancing
• Private student loans
• Mortgages
• Mortgage refinancing
• Personal loans
• Credit cards

One form, multiple quotes

Most of us know that shopping around with multiple lenders is a good idea. But the thought of having to fill out separate applications with each lender can feel daunting. 

Credible solves this problem by providing one form for borrowers to fill out. Then, it sends that single form to each of its partners. I tested out Credible's student loan refinancing form and found it to be simple and streamlined.

Credible says that most people are able to complete the form in about two minutes. That's exactly how long it took me to fill it out. And it only takes a few more minutes to start getting your personalized rates. 

Comparing rates

Credible stresses that when you receive a prequalified quote from one of its partners, it will be a real interest rate based on your personal information, not just a general range. And Credible is so confident in its rates, it will give you $200 if you find a better rate somewhere else.

If you receive multiple quotes, you'll want to take your time comparing the rates and terms. If you're happy with what you see from a particular lender, you can move forward with filling out the full loan application.

On its FAQ page, Credible explains that not everyone will receive prequalified quotes. And there are no guarantees that the rates you prequalify for will be the rate you're quoted in your final offer. 

Lenders decide if they want to make a formal offer (and at what interest rate) after collecting more financial information and processing your full application.

Will using Credible hurt my credit score?

One of the great things about shopping for rates with Credible is that it will have no effect on your credit score. Credible only needs to perform a soft credit inquiry to show you your personalized rates.

However, if you decide to move forward with submitting a full application with a lender, they will perform a hard credit inquiry at that time. And submitting a credit card application will result in a hard credit inquiry as well.

Does Credible charge fees for using its service?

Credible does not charge users any fees whatsoever for using its comparison tools. In most cases, partners pay a referral fee for each borrower Credible sends their way.

Whether or not you're charged an origination fee or other fees on your loan will depend on the lender that you choose. However, for its student loan refinancing product, Credible does say that none of its partners charge origination fees or prepayment penalties.

Who is eligible to use Credible?

Credible does not publish any minimum credit score or income criteria. Instead, it encourages everyone to fill out its form to see if they're eligible for a prequalified rate.

But Credible does say that most of its partners are looking for borrowers who are at least 18 years old and United States citizens (with a valid Social Security number). Credible also notes that student loan refinancing lenders typically look for a credit score between 670 and 700. 

Trying to refinance your student loans if you didn't graduate from college can be difficult. But Credible says that some of its lenders will, in fact, work with non-graduate borrowers. 

Does Credible allow cosigners?

Yes, you can add a cosigner to your Credible application if you can't qualify on your own due to poor or damaged credit. Any adult US citizen or permanent resident can act as your cosigner. 

If you'd like for your cosigner to be released down the road, that is possible with some of Credible's partners. If that's a priority for you, you'll want to make sure the specific lender you're considering allows cosigner release before you sign on the dotted line.

Credible's marketplace is impressive. But it's not quite a one-stop shop.

Overall, Credible is a fantastic tool that's simple and free to use. And it has built up an amazing list of partner lenders and banks. By using its comparison tools, you could cut your loan-shopping time in half, if not more.

But it's important to point out that not every major lender is currently a Credible partner. For example, in the student loan refinancing space, Earnest, CommonBond, and Laurel Road are just three top lenders that aren't available on the platform.

Similar examples could be given for each of the site's loan products. Yes, Credible can help you get a big head start on your loan or credit card shopping. But you'll still want to compare its rates with other top online lenders, and maybe even a few community banks and credit unions as well.

Shop for a loan with Credible today and find your best rate »

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• A fast-spreading virus has killed hundreds of people in China and sickened thousands more, bringing activity in the second-largest economy to a near standstill.
• And the scope of the outbreak's economic consequences may only grow, according to the Federal Reserve.
• In its latest monetary-policy report to Congress on Friday, the central bank said possible spillover effects of the coronavirus outbreak "have presented a new risk to the outlook."
• Visit Business Insider's homepage for more stories.

A fast-spreading virus has killed hundreds of people in China and sickened thousands more, bringing activity in the second-largest economy to a near standstill. And the scope of the outbreak's economic consequences may only grow, according to the Federal Reserve.

In its latest monetary-policy report to Congress on Friday, the central bank said possible spillover effects of the coronavirus outbreak "have presented a new risk to the outlook."

"Data through early this year suggested that growth was steadying," the Fed said. "The recent emergence of the coronavirus, however, could lead to disruptions in China that spill over to the rest of the global economy."

As the coronavirus became increasingly deadly and widespread over the past month, authorities imposed a wave of new restrictions on travel and trade. Businesses and stores have also closed in an effort to contain the outbreak.

A poll by the American Chamber of Commerce in Shanghai found that most US firms with operations in China expected the outbreak to reduce revenue this year. Nearly a quarter said they thought the impact would be significant, with revenue falling by at least 16%.

But the Fed noted that other risks have receded over the past year. While growth has moderated, the central bank said that the overall economy was in a solid place and that recession risks had declined.

"Downside risks to the US outlook seem to have receded in the latter part of the year, as the conflicts over trade policy diminished somewhat, economic growth abroad showed signs of stabilizing, and financial conditions eased," the report said.

Asked on Friday whether he was concerned about the effects of the coronavirus outbreak on the global economy, President Donald Trump demurred.

"I think that China will do a very good job," he told reporters at the White House before departing on Marine One.

Read more:GOLDMAN SACHS: Buy these 10 stocks right now, as they're primed to rocket higher after their upcoming earnings reports

SEE ALSO: US economy beats estimates, adds 225,000 jobs in January as wages grow

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NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption

• On Thursday Aurora Cannabis announced CEO Terry Booth is retiring and that the company will slash 500 jobs to reduce costs.
• Shares fell as much as 19% Friday. 
• Here's what four Wall Street analysts are saying about the Canadian cannabis company. 
• Watch Aurora Cannabis trade live on Markets Insider.
• Read more on Business Insider.

Shares of Aurora Cannabis tumbled as much as 19% Friday after the company announced Thursday that its CEO Terry Booth is retiring and stepping down, and that it will cut 500 jobs to lower spending.

The decision to cut the full-time roles, including 25% of corporate positions, was an "incredibly difficult" one that was "not taken lightly," said Glen Ibbott, Aurora's chief financial officer, on a Thursday call with analysts and investors. 

Aurora's executive chairman, Michael Singer, will take over as the interim CEO while the company board searches for a full-time replacement. Aurora's banking syndicate cut its credit facility, and the company will take a goodwill writedown of C$740 million to C$775 million related to assets the company acquired in Denmark and South America. 

The company also announced preliminary results for the quarter that ended December 31 that fell short of Wall Street's expectations. The company said it expects cannabis revenue between C$50 million and C$54 million, where analysts were expecting $79 million, according to Bloomberg.

The slump is the latest setback for the beleaguered stock, which has struggled to gain in 2020 as turmoil continues to hit the cannabis industry. Shares of other cannabis companies also took a hit — Tilray sank 5%, Canopy Growth fell 7%, and Aphria traded 4% lower Friday afternoon in New York. 

Aurora Cannabis has a consensus price target of $2.52 and six "buy" ratings, 11 "hold" ratings, and five "sell" ratings, according to Bloomberg data. 

Here's what four analysts are saying about Aurora Cannabis, ranked in order of highest to lowest price target: 

1. Cowen: "A telling sign that the industry has matured some"

Rating: Outperform 

Price target: C$6.00 

"Industry-wide management changes are a telling sign that the industry has matured some (though not fast enough), and gotten competitive enough, that founder-led strategies aren't going to cut it in a capital constrained backdrop," wrote Vivien Azer of Cowen in a Thursday note. 

She continued: "Management reiterated they are trying to be extremely conservative, which we appreciate, as the revenue outlook will clearly inform the cost and profitability targets that the company laid out."

2. Canaccord Genuity: "A number of red flags"

Rating: Hold, from speculative buy 

Price target: C$3.00 from C$6.00 

Analysts at Canaccord Genuity downgraded shares of ACB to "hold" and reduced their price target on Thursday following the announcement that CEO Terry Booth would retire. 

"More concerning, Aurora also provided colour with respect to is expectations over the next few quarters, with a number of red flags," wrote Canaccord Genuity analysts led by Matt Bottomley. 

He continued: "Although we don't view the departure of Mr. Booth in isolation to be a concern, after disappointing FQ1 results, increasing industry headwinds and now surprisingly muted expectations for Aurora's remaining FY20, we have made substantial downward revisions to our model." 

3. Jefferies: Aurora is "rangebound for a good period now"

Rating: Hold

Price Target: $1.90 from $3.00 

"The company say they have been losing share in the mid-priced to a growing value segment and have launched a new value brand. We expect this to weigh on gross margins," wrote Ryan Tomkins of Jefferies in a Friday note. 

"We see Aurora as rangebound for a good period now, as sentiment and balance sheet will depend on Q1 performance, and with that, the possibility of amending their credit facility rather than raising more cash." 

4. Stifel: "We struggle to find value for current equity holders"

Rating: Sell 

Price target: C$1.00 from C$1.75 

Sweeping business changes suggest a "more precarious position than we had contemplated," wrote W. Andrew Carter of Stifel in a Friday note. 

He continued: "We do not believe the company will be able to keep pace with the demands of a dynamic market, with an outlook leaving little room for error, driving our 46% reduction in our FY22 revenue estimate."

"We struggle to find value for current equity holders, and we are reducing our target price to C$1, continuing with our Sell rating."

• You should file an amended tax return if your filing status, income, or qualification for certain deductions or credits is different than what you claimed on your original tax return.
• The amended tax return deadline for claiming a refund is the later of three years from your original filing date or two years from the date you paid the tax. 
• You can't file an amended tax return online. You'll need to print out and mail Form 1040X.
• See Business Insider's picks for the best tax software »

The IRS isn't going to punish you for making a simple clerical error on your tax return.

In fact, if the IRS finds minor mistakes on your tax return, they'll often correct them for you. And if they need more information or additional documents, they'll reach out to you via US mail.

For errors beyond basic arithmetic, you may need to file an amended federal tax return, or Form 1040X. The amended tax return deadline if you're claiming a refund due to the changes is the later of three years from your original filing date or two years from the date you paid the tax due. This includes any elected extensions. 

Other common reasons for filing an amended return include claiming a deduction or credit that you overlooked initially or receiving an adjusted W-2 or 1099 from your employer that changes your tax liability. This doesn't often happen at large companies, but may be more common with smaller employers with in-house bookkeeping.

The IRS reports that, nationally, the average taxpayer filing an amended return spends nine hours preparing and mailing their forms, though the time burden varies depending on the type of taxpayer and whether they seek professional help.

How can I file an amended tax return?

Unfortunately you can't file an amended return electronically; you'll need to print, fill out, and mail the form to the IRS. You can find the latest instructions here.

To complete Form 1040X, you need the following:

• A copy of the return (Form 1040, 1040-NR, or 1040-NR EZ; or 1040A or 1040EZ for previous years) you are amending, plus any relevant forms, schedules, or worksheets you previously filled out
• Any notices you received from the IRS on adjustments to that return
• Instructions for the return you are amending that correspond to the year in which the original return was filed —  you can find these on the IRS website

You should also check with your state's tax bureau to find out whether you need to file an amended state return as well.

How do I mail an amended tax return?

To mail your amended tax return to the appropriate address, check page 18 of the 1040X instructions guide. The address corresponds to the forms you're amending and the state you live in.

Is there a penalty for filing an amended tax return?

Interest and penalties for late payment of taxes may be charged, but there aren't any fees or penalties associated with simply filing an amended tax return. You can check out the IRS instructions for more details.

What's the amended tax return refund timeline? 

The IRS says it usually processes amended tax returns within eight to 12 weeks of the mailing date, though it could take up to 16 weeks or longer, particularly in cases of identity fraud.

Beginning about three weeks from the date your return was postmarked, you can use the Where's My Amended Return tool on IRS.gov to track its status. To do so, you'll need to provide the following information:

• Your taxpayer identification number or Social Security number
• Your date of birth
• Your ZIP code or postal code

The status of your amended return will move from received to adjusted to completed. If your return is adjusted, there will usually be a new refund issued or a tax balance due. 

• More tax day coverage:
• When are taxes due?
• How to file taxes for 2019
• What is a tax credit?
• H&R Block vs. TurboTax

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• This is a preview of the AI in Insurance research report from Business Insider Intelligence.
• 14-Day Risk Free Trial: Get full access to this and all Fintech industry research reports.

The insurance sector has fallen behind the curve of financial services innovation — and that's left hundreds of billions in potential cost savings on the table.

The most valuable area in which insurers can innovate is the use of artificial intelligence (AI): It's estimated that AI can drive cost savings of $390 billion across insurers' front, middle, and back offices by 2030, according to a report by Autonomous NEXT seen by Business Insider Intelligence. The front office is the most lucrative area to target for AI-driven cost savings, with $168 billion up for grabs by 2030.

There are three main aspects of the front office that stand to benefit most from AI. First, Chatbots and automated questionnaires can help insurers make customer service more efficient and improve customer satisfaction. Second, AI can help insurers offer more personalized policies for their customers. Finally, by streamlining the claims management process, insurers can increase their efficiency. 

In the AI in Insurance Report, Business Insider Intelligence will examine AI solutions across key areas of the front office — customer service, personalization, and claims management — to illustrate how the technology can significantly enhance the customer experience and cut costs along the value chain. We will look at companies that have accomplished these goals to illustrate what insurers should focus on when implementing AI, and offer recommendations on how to ensure successful AI adoption.

The companies mentioned in this report are: IBM, Lemonade, Lloyd's of London, Next Insurance, Planck, PolicyPal, Root, Tractable, and Zurich Insurance Group.

Here are some of the key takeaways from the report:

• The cost savings that insurers can capture from using AI in the front office will allow them to refocus capital and employees on more lucrative objectives, such as underwriting policies.
• To ensure that AI in the front office is successful, insurers need to have a clear strategy for implementing the tech and use it as a solution for specific problems.
• Insurers are still at different stages when it comes to implementing AI: a number of them need to find ways to appropriately build their strategies and enable transformation, while the others must identify how to move forward with their existing strategy.
• Overall, incumbents should focus on a hybrid model between digital and human to ensure they're catering to all consumers.

 In full, the report:

• Outlines the benefits of using AI in the insurance industry.
• Explains the three main ways insurers can revamp their front office using the technology.
• Highlights players that have successfully implemented AI solutions in their front office.
• Discusses how insurers should move forward with AI and what routes are the most lucrative option for players of different sizes.

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The choice is yours. But however you decide to acquire this report, you've given yourself a powerful advantage in your understanding of AI in insurance.

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• One of the two Marine Corps lance corporals charged in a human smuggling case in 2019 claimed he agreed to pick up an undocumented migrant for $1,000.
• When he was not paid after the operation, he went back for another smuggling operation the next morning with the promise that he would be paid.
• The lance corporal and a Marine colleague were arrested during that second operation.
• Two of the undocumented migrants said they were paying $8,000 to be smuggled into New Jersey and Los Angeles.
• Visit Business Insider's homepage for more stories.

One of the two Marine Corps lance corporals charged in a human smuggling case claimed he agreed to pick up an undocumented migrant for $1,000, and when he was not paid for his services, went back for another smuggling operation the next day with the promise that he would be paid.

Lance Cpl. Byron Law II from the Marine Corps Base Camp Pendleton was arrested during that second human smuggling operation at about seven miles from the US-Mexico border on July 3, 2019, according to previous court filings from the US District Court for the Southern District of California.

Law was driving a black vehicle with three undocumented migrants in the back passenger seats. Two of the migrants said they were paying $8,000 to be smuggled into New Jersey and Los Angeles.

Lance Cpl. David Salazar-Quintero, who was sitting in the front passenger seat of the vehicle, was also arrested. Salazar-Quintero alleged it was Law who introduced him to human smuggling, after Law made the initial introductions with a "recruiter," according to court documents filed in the case.

Both Marines agreed to answer questions from US Border Patrol agents without an attorney present.

Attorneys for both Marines did not respond to requests for comment by Friday and it was unclear if they intend to fight the charges or enter a guilty plea.

Law told authorities that Salazar-Quintero, who was fluent in Spanish, had orchestrated the operation, according to court documents. He alleged that the night before his arrest, Salazar-Quintero had called him to see if he would agree to smuggling a migrant for $1,000.

The two Marines set out to the resort community of Jacumba Hot Springs that same night, receiving instructions from a "spotter" with a phone number based in Mexico. Law and Salazar-Quintero smuggled one male migrant and transported him to a McDonald's parking lot in Del Mar, about an hour and a half away.

Law claimed the two were never paid and returned back to their military base, according to court records.

The next morning, Law alleged his colleague "called him for another job, this time guaranteeing they would get paid for today's and last night's event in cash," court filings said. The two Marines were arrested during that second smuggling operation.

Law and Salazar-Quintero faces up to five years in prison for each undocumented migrant they attempted to smuggle.

It was during the initial investigation into Law and Salazar-Quintero when the Naval Criminal Investigative Service suspected other Marines may have been involved in human smuggling operations. During a mass formation of roughly 800 US Marines at Camp Pendleton on July 25, 2019, NCIS agents arrested nearly two dozen service members from the 1st Marine Division in connection with human trafficking, drug distribution, and weapons charges. Thirteen Marines made pre-trial agreements to leave the military instead of taking their case to court.

In November, a judge ruled that the mass arrest was an example of unlawful command influence, which refers to military leaders abusing their position to influence legal proceedings. Service members who were part of that formation in late July testified that officers described the arrested Marines as a "cancer," according to The San Diego Union-Tribune.

On January 22, Francisco Saul Rojas-Hernandez was arrested on charges of conspiracy to smuggle people for money. Law and Salazar-Quintero alleged Rojas-Hernandez recruited them for the operations, and his name was also mentioned by other US citizens who were arrested in separate human smuggling cases.

SEE ALSO: A renegade Air Force base is 'liking' Trump's 2020 campaign tweets that disparage Bernie Sanders and Democrats

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This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

In the US, the in-store mobile wallet space is becoming increasingly crowded. Most customers have an option provided by their smartphone vendor, like Apple, Android, or Samsung Pay. But those are often supplemented by a myriad of options from other players, ranging from tech firms like PayPal, to banks and card issuers, to major retailers and restaurants.

With that proliferation of options, one would expect to see a surge in adoption. But that’s not the case — though Business Insider Intelligence projects that US in-store mobile payments volume will quintuple in the next five years, usage is consistently lagging below expectations, with estimates for 2019 falling far below what we expected just two years ago. 

As such, despite promising factors driving gains, including the normalization of NFC technology and improved incentive programs to encourage adoption and engagement, it’s important for wallet providers and groups trying to break into the space to address the problems still holding mobile wallets back. These issues include customer satisfaction with current payment methods, limited repeat purchasing, and consumer confusion stemming from fragmentation. But several wallets, like Apple Pay, Starbucks’ app, and Samsung Pay, are outperforming their peers, and by delving into why, firms can begin to develop best practices and see better results.

A new report from Business Insider Intelligence addresses how in-store mobile payments volume will grow through 2021, why that’s below past expectations, and what successful cases can teach other players in the space. It also issues actionable recommendations that various providers can take to improve their performance and better compete.

Here are some of the key takeaways:

• US in-store mobile payments will advance steadily at a 40% compound annual growth rate (CAGR) to hit $128 billion in 2021. That’s suppressed by major headwinds, though — this is the second year running that Business Insider Intelligence has halved its projected growth rate.
• To power ahead, US wallets should look at pockets of success. Banks, merchants, and tech providers could each benefit from implementing strategies that have worked for early leaders, including eliminating fragmentation, improving the purchase journey, and building repeat purchasing.
• Building multiple layers of value is key to getting ahead. Adding value to the user experience and making wallets as simple and frictionless as possible are critical to encouraging adoption and keeping consumers engaged. 

In full, the report:

• Sizes the US in-store mobile payments market and examines growth drivers.
• Analyzes headwinds that have suppressed adoption.
• Identifies three strategic changes providers can make to improve their results.
• Evaluates pockets of success in the market.
• Provides actionable insights that providers can implement to improve results.

Subscribe to an All-Access membership to Business Insider Intelligence and gain immediate access to:

	This report and more than 250 other expertly researched reports
	Access to all future reports and daily newsletters
	Forecasts of new and emerging technologies in your industry
	And more!

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