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From Kitchen to Confidence: Shelley Nadel’s Recipe for Financial Power

Economic Insider Staff on October 17, 2025

Shelley L. Nadel, CFP®, CLTC®, LUTCF, brings a fresh perspective to the way we think about money in her new book, The Wealth Recipe: A Culinary Guide to Financial Power. Blending her experience as a financial planner with her love of the kitchen, Nadel shows how financial decisions can become more manageable when explained through the language of food. Her opening chapter introduces the idea that, just like preparing a great meal, building lasting money skills often requires the right tools, techniques, and timing. Preparation, balance, and planning—these are the ingredients that can help fuel both a delicious dish and a more confident approach to money.

Nadel doesn’t lecture from a stage—she teaches from the kitchen counter. Her Food and Finance with Shelley™ brand has included professionally produced videos, speaking engagements, and now, a book that brings it all together. With signature kitchen metaphors, she makes concepts accessible without oversimplifying them.

A Plan You Can See

The most vivid parts of The Wealth Recipe come from its simple, practical frameworks. Planning is like making guacamole: start with a strong base, then fine-tune the texture and seasoning to suit your taste. In the same way, each household may need a blend of income, savings, spending, and insurance that can be adjusted to life’s evolving realities. By anchoring planning with a recipe, Nadel seeks to break down barriers and encourage readers to take action.

Her focus on women is especially notable. While women often control much of household wealth and entrepreneurship, many report lower confidence and frustrating experiences with advisors. Nadel’s approach aims to empower: build literacy first, create a plan, then seek partnership as needed. Readers who’ve felt overlooked or excluded might find her voice more inviting.

Preparing the Kitchen for Success

Like a cook laying out ingredients, Nadel emphasizes careful preparation over improvisation. She translates this into action steps that resemble recipe cards: gather your information, understand how the pieces can work together, follow the sequence, set a real deadline, and adapt as needed. The effect is gently powerful—readers can feel that progress is within reach.

Rethinking Debt: Choosing Healthy Ingredients

Nadel’s chapter on debt avoids making readers feel ashamed. She compares debt to the role of fats in a recipe: when chosen wisely—like using avocado in chocolate pudding—you can still enjoy the richness without compromising the dish. But the wrong fats, or too much of them, may overpower and cause harm. In the same way, not all debt is necessarily bad, but managing it with care can make a significant difference. Nadel walks readers through repayment strategies such as the “debt avalanche,” showing how focusing on high-interest balances first could help restore balance and improve the overall plan.

Selecting Investment Ingredients

Investing becomes a tasting menu in Nadel’s hands. Asset classes are the ingredients, and factors like company size, sector, and geography add variety. Diversification is like plating a balanced meal: complementary pieces come together to create strength and resilience. Readers leave with a clearer sense of how to construct a portfolio—without feeling burdened by jargon.

Cutting Clean, Serving Sweet

Taxes, often overlooked, are the knives of the financial kitchen—essential tools that make every job more precise. Nadel explains how tax-deferred, after-tax, and tax-free strategies can work together to create efficiency over a lifetime. Risk management, meanwhile, is like dessert—her blueberry pie analogy makes it approachable and memorable, reminding readers that balance and perspective matter.

Serving Retirement in Courses

Retirement planning is served in two stages: accumulation (gathering and stocking) and distribution (serving and savoring in the right order). Nadel illustrates how timing withdrawals may help prevent the pantry from running dry too soon—just as running out of eggs in the middle of baking can disrupt the entire recipe.

Health, Longevity, and the Sweet Finish

Nadel doesn’t shy away from the challenging topic of healthcare in retirement. She explains that Medicare Parts A, B, and D provide the main course—essential and sustaining—but they rarely form a complete meal on their own. Supplemental coverage, whether through Medigap or employer-sponsored plans, adds the finishing touch, much like a carefully chosen dessert that rounds out the experience. Long-term care is another aspect of that sweet course—something ideally planned for early so it’s ready when the time comes. By addressing these needs in advance, readers may safeguard both their savings and dignity, ensuring that their later years remain secure and fulfilling.

Why It Resonates

The warmth in Nadel’s writing reflects her 18 years of guiding clients. Her food metaphors work because they feel natural—familiar comparisons that transform complex ideas into accessible lessons. By the final chapter — “Your financial feast awaits” — readers leave with the confidence that they can create a plan that works for them.

Book Details

The Wealth Recipe: A Culinary Guide to Financial Power
By Shelley L. Nadel, CFP®, CLTC®, LUTCF
In association with and edited by Terri S. Heath; illustrations by Catherine Heath
© 2025, Artisan Publishing. All rights reserved.

Disclosures: Securities offered through Lion Street Financial, LLC (LSF), Member FINRA and SIPC. Investment Advisory Services offered through Csenge Advisory Group. Lion Street Financial is not affiliated with Radian Partners, LLC. View full disclosures and links within the book.

 

Disclaimer: The content provided in this article is for informational purposes only and should not be considered financial, investment, or legal advice. The strategies and concepts discussed are intended to provide general guidance on financial literacy and planning. Individual financial situations may vary, and it is recommended that readers consult with a certified financial planner or other qualified professional before making any financial decisions. The author and publisher do not guarantee specific results or outcomes from following the suggestions in this article.

Legal and Financial Considerations for Starting a Creative Business

Economic Insider Staff 2 on October 17, 2025

Starting a creative business requires more than just artistic vision; it also involves understanding the legal and financial considerations that ensure the business operates smoothly and remains compliant with regulations. From choosing the appropriate legal structure to managing finances, these steps are essential for setting up a sustainable and legally sound business. This article explores the key legal and financial aspects of launching and running a creative business, focusing on choosing the right business structure, understanding tax obligations, managing finances effectively, and the importance of securing contracts.

Choosing the Right Legal Structure

One of the first and most important steps in starting a creative business is selecting the appropriate legal structure. The structure you choose will impact your tax obligations, liability, and ability to raise capital. There are several options available, and each comes with its own benefits and drawbacks.

The most common legal structures for small businesses include operating as a sole trader, a partnership, or a limited company. A sole trader is the simplest structure, where the individual is the business, and all profits are considered personal income. This structure offers simplicity and flexibility but also means that the individual is personally liable for any business debts or legal actions.

A partnership, on the other hand, involves two or more individuals who share the profits, liabilities, and responsibilities of the business. This structure can be useful when creative entrepreneurs want to collaborate with others, but it also means that each partner is personally liable for the business’s debts and obligations unless otherwise specified in a partnership agreement.

A limited company offers a higher level of protection for business owners, as it creates a separate legal entity. This means that the owners’ personal assets are protected from business liabilities. While it provides limited liability protection, setting up and maintaining a limited company involves more administrative work, including filing annual reports and meeting specific regulatory requirements. The choice of structure will depend on the entrepreneur’s goals, the size and scope of the business, and their level of risk tolerance.

Understanding Tax Obligations

Tax obligations are a critical part of managing a business, and understanding them early on can help prevent issues with regulatory authorities later. As a creative entrepreneur, it is essential to know what taxes your business will be liable for based on its legal structure and location. This includes income tax, VAT (if applicable), and other local or industry-specific taxes.

For sole traders and partnerships, income tax is typically based on the profits of the business, which are treated as personal income. The business owner is responsible for paying self-employment taxes, which cover social security and Medicare contributions in some regions. In contrast, a limited company may be required to pay corporate taxes on its profits, and shareholders (business owners) may also be liable for tax on dividends they receive.

In addition to income taxes, creative businesses may also need to charge VAT (Value Added Tax) on products or services, depending on the size of the business and local regulations. It is essential to register for VAT if the business’s taxable turnover exceeds the threshold set by local authorities. Creatives who are unsure about their tax obligations should seek professional advice to ensure they comply with all necessary regulations and take advantage of any available deductions or exemptions.

Understanding tax requirements also extends to how a business tracks its income and expenses. Proper record-keeping is crucial for filing accurate tax returns and minimizing the risk of audits. Entrepreneurs should invest in accounting software or hire an accountant to manage their financial records, track expenses, and ensure compliance with tax laws.

Managing Finances and Cash Flow

Proper financial management is essential for the success and longevity of any creative business. Managing cash flow, budgeting, and setting appropriate prices are key factors in maintaining financial health. Cash flow, which refers to the movement of money into and out of the business, is especially important for creative entrepreneurs who may face fluctuating income due to project-based work or seasonal demand.

Effective cash flow management begins with forecasting income and expenses. By projecting expected revenues and costs, creative business owners can plan for lean periods and ensure that they have enough cash on hand to cover operational expenses. It is also important to separate personal and business finances to avoid confusion and ensure that the business remains financially independent. Opening a separate business account for all transactions can help maintain clear financial records and facilitate easier budgeting.

Budgeting is another important aspect of financial management. Entrepreneurs should establish a budget that includes both fixed costs (such as rent, insurance, and salaries) and variable costs (such as materials, marketing, and travel). By regularly reviewing the budget and comparing it to actual expenses, creative entrepreneurs can identify areas where they may be overspending or underestimating costs, allowing them to make adjustments as needed.

Setting appropriate prices for creative work is equally important. Entrepreneurs must take into account their time, skills, and overhead costs when determining pricing. Underpricing can lead to financial strain, while overpricing may alienate potential clients. It is helpful to research industry standards and assess the value of the creative work being offered to ensure that pricing is competitive yet sustainable.

The Importance of Securing Contracts

Securing contracts is an essential part of protecting both the creative and financial interests of a business. Contracts provide legal protection by clearly defining the terms and conditions of the working relationship between the business and clients or collaborators. For creative entrepreneurs, contracts ensure that both parties understand their obligations, responsibilities, and the scope of work being provided.

A well-drafted contract can prevent misunderstandings, disputes, and potential legal issues. Key elements of a contract include payment terms, timelines, intellectual property rights, confidentiality agreements, and dispute resolution procedures. Contracts are particularly important in creative industries where ownership of intellectual property (such as designs, artwork, or written content) is a central concern. By clearly outlining who owns the rights to creative work and how it can be used, entrepreneurs can protect their creations and avoid legal conflicts.

In addition to client contracts, creative entrepreneurs should consider having contracts with employees, contractors, or business partners. These agreements help ensure that expectations are clearly defined and that all parties are aligned on the business’s goals and operations. Contracts also help establish the legal framework for resolving issues should they arise, which can be crucial for maintaining the smooth operation of the business.

Creative business owners should seek legal advice when drafting contracts to ensure that they are enforceable and compliant with local laws. Investing in well-crafted contracts is a small price to pay for the long-term protection it provides for both the business and the creative entrepreneur.

Understanding the legal and financial considerations of starting and running a creative business is essential for ensuring its long-term success. From selecting the right legal structure to managing taxes, finances, and securing contracts, each aspect plays a vital role in creating a sustainable and legally compliant business. By taking the necessary steps to manage these elements, creative entrepreneurs can focus on growing their businesses while minimizing risks and protecting their creative and financial interests. Proper planning and attention to detail will help entrepreneurs navigate the complexities of business management, allowing them to thrive in their chosen field.

Public Key Cryptography: How It Revolutionized Digital Security

Economic Insider Staff 2 on October 17, 2025

What Is Public Key Cryptography?

Public key cryptography is a fundamental technology that has revolutionized the way digital security is handled in modern communications. Unlike traditional symmetric cryptography, where the same key is used for both encryption and decryption, public key cryptography (also known as asymmetric cryptography) uses a pair of keys: a public key and a private key. These two keys are mathematically related, but it is computationally infeasible to derive the private key from the public key.

The public key is used to encrypt data, while the private key is used to decrypt it. The beauty of this system is that the public key can be freely shared with anyone, while the private key remains confidential to the owner. This method eliminates the need for securely sharing encryption keys, which was a significant challenge in earlier cryptographic systems. The public key can be distributed widely, while only the private key holder can decrypt the message, ensuring both privacy and security.

Public key cryptography also enables digital signatures, which verify the authenticity of digital messages and transactions. This has far-reaching applications in securing communications, protecting online transactions, and ensuring the integrity of digital information.

The Origins of Public Key Cryptography in the 1970s

Public key cryptography emerged in the early 1970s as a response to the growing need for secure digital communication. Prior to this development, encryption methods relied solely on symmetric cryptography, where both the sender and receiver shared the same key. While effective, this system posed significant challenges in securely exchanging the keys. The introduction of public key cryptography marked a monumental shift in how digital security could be implemented.

The concept of public key cryptography was first introduced in a groundbreaking paper that described a new encryption system that would allow individuals to send secure messages without needing to share secret keys in advance. This idea was initially met with skepticism, as it was difficult to conceive of a system where one key could be shared publicly while another remained private.

However, the breakthrough came when a new encryption algorithm, known as RSA (Rivest-Shamir-Adleman), was developed. This asymmetric encryption system became the cornerstone of public key cryptography. The introduction of RSA enabled secure communications over the internet, without the need to exchange private keys ahead of time. This new approach to cryptography laid the foundation for modern digital security protocols.

Key Figures in the Development of Public Key Systems

While specific individuals played significant roles in developing public key cryptography, the technology itself emerged from a collaborative process in the academic and research communities. The development of RSA and other cryptographic systems relied on the work of mathematicians, engineers, and computer scientists who sought to solve the problem of secure communication in an increasingly connected world.

The breakthrough of RSA was based on the mathematical concept of prime factorization, a problem that is easy to compute in one direction (multiplying two large prime numbers) but incredibly difficult to reverse (factoring their product back into the prime numbers). This difficulty is what makes RSA encryption secure, as it relies on the fact that factoring large numbers is computationally infeasible with current technology.

Public key cryptography also gained traction due to the work of researchers who explored the mathematical properties of cryptographic systems and their real-world applications. The success of public key systems paved the way for further advancements in cryptographic security, leading to the development of new protocols and encryption algorithms used today.

How Public Key Encryption Secures Digital Communication

Public key cryptography is central to securing digital communication by providing a mechanism for both confidentiality and authenticity. When used for secure communication, public key cryptography ensures that only the intended recipient of a message can decrypt and read the content. This is accomplished by using the recipient’s public key to encrypt the message. Even if a third party intercepts the encrypted message, they will be unable to decrypt it without the corresponding private key.

Additionally, public key cryptography enables digital signatures, which authenticate the identity of the sender and ensure the integrity of the message. To create a digital signature, the sender uses their private key to sign the message. The recipient can then use the sender’s public key to verify the authenticity of the signature, ensuring that the message has not been tampered with during transmission and that it truly comes from the claimed sender.

Public key cryptography is also widely used in secure internet communications. Protocols such as SSL/TLS (Secure Sockets Layer/Transport Layer Security) rely on public key cryptography to establish encrypted connections between web browsers and servers. These protocols are fundamental to securing online transactions, protecting sensitive data such as credit card information, and enabling private browsing experiences.

The Influence of Public Key Cryptography on E-commerce and Online Privacy

The impact of public key cryptography on e-commerce and online privacy cannot be overstated. It has been instrumental in enabling the growth of online shopping, banking, and digital transactions by providing a secure way to exchange sensitive information over the internet. With the advent of secure digital payment systems and encrypted communication channels, consumers and businesses alike have gained the confidence to engage in e-commerce without fear of fraud or data theft.

Public key cryptography allows consumers to securely transmit credit card numbers, personal identification information, and bank account details without the risk of interception. When these sensitive transactions are encrypted with public key systems, only the authorized parties can access the information, ensuring privacy and confidentiality.

Furthermore, public key cryptography has been crucial in the protection of online privacy. It provides the foundation for secure email communication, virtual private networks (VPNs), and secure messaging apps, all of which have become essential tools in maintaining personal privacy and data security in an increasingly digital world. As privacy concerns grow, the continued development and implementation of public key cryptography will play a key role in safeguarding individuals’ rights to secure and private communication.

The Economics of Monopolies: Power, Prices, and the Consequences

Economic Insider Staff 2 on October 17, 2025

Monopolies represent a significant aspect of market structure in economics, where a single company or entity has significant control over a particular industry or market. The rise of monopolies can often lead to both positive and negative economic consequences, including price manipulation, market power, and inefficiencies. This article explores the underlying economics of monopolies, the influence they exert over market dynamics, and the potential consequences that arise from their dominance.

The Nature of Monopolies and Market Power

A monopoly occurs when a single firm becomes the exclusive provider of a good or service in a particular market. Unlike perfect competition, where numerous firms operate, a monopoly is marked by the absence of competition. The lack of alternatives allows the monopolist to exercise significant control over the market, particularly in terms of setting prices. This market power can lead to the monopolist charging higher prices than would be possible in a competitive market, thus increasing profit margins at the expense of consumers. Additionally, monopolists may limit the availability or quality of goods or services to maintain control over the market.

The ability of a monopoly to set prices without facing competition often leads to inefficiencies in the market. With no incentive to lower prices or innovate, monopolistic firms may become complacent, resulting in stagnation and reduced consumer choice. This lack of competitive pressure can also discourage the pursuit of cost-effective production methods or product improvements, which would typically benefit consumers in a more competitive environment.

The Impact on Prices and Consumer Welfare

Monopolies have a unique ability to influence prices in ways that would be impossible in a competitive market. By controlling supply, a monopoly can set prices at levels higher than the equilibrium price, which would typically result from market competition. This pricing strategy often leads to higher costs for consumers, as the monopolist seeks to maximize profits rather than provide goods or services at competitive prices. The result is often a reduction in consumer welfare, as individuals are forced to pay more for the same or lesser quality products.

In addition to directly raising prices, monopolies can create barriers to entry that prevent potential competitors from entering the market. These barriers, such as high startup costs, exclusive contracts, and control over critical resources, make it difficult for new firms to challenge the monopolist’s dominance. As a result, monopolies can remain entrenched for long periods, further exacerbating the negative impact on consumer welfare.

Inefficiencies and Market Failures

The economic theory behind monopolies suggests that they often lead to inefficiencies in resource allocation. In competitive markets, firms are incentivized to minimize costs and maximize efficiency in order to stay ahead of competitors. However, monopolies lack this pressure, and as a result, they may not operate as efficiently as possible. For example, they may not invest in the latest technologies or adopt the best business practices, as they do not face the same competitive threats that would push them to do so.

Furthermore, monopolies can lead to a misallocation of resources, as they may produce less than what is socially optimal. In a competitive market, firms tend to produce at the point where supply and demand meet, optimizing both production and consumption. A monopoly, however, may produce at a lower quantity, setting higher prices, and creating a deadweight loss in the market. This deadweight loss represents the lost economic welfare that occurs when the quantity of a good produced and consumed is below the optimal level for society.

Regulatory Responses and Long-Term Consequences

Governments often intervene in markets dominated by monopolies to mitigate the negative effects they can have on consumers and the economy. Antitrust laws and regulations are designed to prevent the formation of monopolies or to break up existing monopolies that harm market competition. These laws aim to promote competition, reduce the potential for price manipulation, and ensure that consumers are not exploited by monopolistic practices.

Despite regulatory efforts, monopolies can still have long-term consequences that affect both the economy and society. In some cases, regulatory actions may lead to a reduction in the monopolist’s market power but may not fully restore competitive conditions. Additionally, monopolies can have social and political implications, as their control over key industries can grant them substantial influence over government policies and decision-making. This concentration of power can lead to a situation where a few large firms control the economic landscape, further exacerbating wealth inequality and social divides.

While monopolies can sometimes bring about efficiencies or innovation in specific industries, their dominance in a market often leads to negative economic outcomes. From higher prices and reduced consumer welfare to inefficiencies and market failures, monopolies present significant challenges to a well-functioning market economy. The role of government regulation is crucial in mitigating these effects, but the long-term consequences of monopolies may extend beyond economic factors, impacting society and politics as well.

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