Redeem American Express Membership Rewards with Apple Pay
Today, American Express is expanding Membership Rewards® points redemption options for eligible Card Members with the launch of Use Pay with Points with Apple Pay.
The new feature allows Card Members to redeem points directly within Apple Pay’s easy, secure and private checkout experience online, giving them greater flexibility to use points on everyday purchases.
But the bad news is that you only get a value of 0.7 cents per point. That means that you can redeem 1,000 Membership Rewards points for $7.
If you’re still interested on how hit works, here’s how:
Shop online or in apps on iPhone or iPad
Select Apple Pay at checkout
Choose an eligible American Express® Membership Rewards® Card
Select “Use Rewards” during checkout and enter the amount to apply toward the eligible purchase. You can use points to cover all or part of your purchase.
Redeem Membership Rewards points seamlessly by completing the Apple Pay transaction
When a user redeems Membership Rewards points through Apple Pay, Apple does not retain any transaction information linked to the user.
Rivian(RIVN 0.98%) officially launched its R2 SUV in the U.S. on June 9. Could this newest car lift Rivian’s stock, which trades nearly 80% below its IPO price of $78?
Why the R2 could be a game changer
When Rivian went public in 2021, it only sold three electric vehicles: the R1T pickup, R1S SUV, and custom electric delivery vans for Amazon (and later other companies).
Image source: Rivian Automotive.
The launch editions of the R1T and R1S started at $75,000 and $77,500, respectively, but subsequent versions started at $85,000 to $95,000. Those high prices limited their mainstream appeal, and Rivian’s own supply chain constraints throttled its annual production — which dropped from 57,232 vehicles in 2023 to 42,284 vehicles in 2025.
Today’s Change
(-0.98%) $-0.17
Current Price
$17.18
Key Data Points
Market Cap
$22B
Day’s Range
$17.07 – $17.80
52wk Range
$11.57 – $22.69
Volume
26.8M
Avg Vol
29.4M
Gross Margin
-441.39%
The launch version of the R2 starts at $57,990, and Rivian plans to roll out an even cheaper version with a starting price of around $45,000 by the end of 2027. The R2 also costs less to manufacture than the R1T and R1S, so its rising sales should boost Rivian’s gross margins.
Rivian expects the R2 to boost its annual deliveries to 62,000-67,000 vehicles this year. If those efforts pay off, analysts expect its revenue to more than triple from 2025 to 2028. If that happens, Rivian’s stock-which trades at just three times this year’s sales — could finally stabilize and be revalued as a high-growth EV stock again.
Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Amazon. The Motley Fool has a disclosure policy.
U.S. and Iranian officials remain locked deep in negotiations to secure a lasting ceasefire to the war that has rocked the Middle East for months. For many Americans, however, no deal will be enough to replace what the war has already sapped from their wallets.
Peace talks between the two countries are still inching along, with one of the key points up for discussion being how to regulate the flow of shipping through the Strait of Hormuz. The waterway has been mostly locked up to traffic since the war began in February, sending oil prices soaring and pushing gasoline prices back in the U.S. up with them.
Oil prices have returned to pre-war levels since ceasefire talks began, as tensions in the Middle East somewhat de-escalated and global demand softened. But American drivers are still dealing with sky-high gas prices. The national average cost of a gallon of gas is now $3.84, up roughly 23% from a year ago, close to a four-year high. For the average American who relies on a personal vehicle to get to work, take their children to school, buy groceries, and generally live their life, those costs have been adding up.
“One thousand dollars,” Mark Zandi, Moody’s chief economist, wrote in an op-ed published last week by the Philadelphia Inquirer.
“By my calculation, that’s the effective cost of the Iran war to the typical American household—so far,” he added. “While the U.S. and Iran have agreed to a ceasefire and are talking to end the war, the costs are still mounting.”
Of that sum, Americans have already burned through around $300 from each household due to high gas prices alone. The rest, Zandi wrote, has been spent indirectly. More expensive fuel has caused airlines to raise prices, adding $100 to the bill. Groceries and everyday shopping have also gotten pricier because of diesel, the fuel of choice for trucks and heavy farming equipment. The war has hiked diesel prices even more than regular gasoline, pushing costs up for everything that has to be transported: That’s another $200, according to Zandi.
Then there’s taxpayer-funded military costs, covering everything from personnel to spent munitions. These round up to an extra $250 in taxes for each household. And finally, interest rates. The war’s upward pressure on prices reversed expectations that the Federal Reserve might opt to cut rates this year, with many analysts now forecasting the Fed to raise them instead. Higher rates mean pricier payments to service credit card debt, auto loans, and mortgages, adding on another $150 to the war’s bill.
Other items impacted by the war but that are harder to calculate could push the total cost even higher, Zandi wrote. Fertilizer and helium, for example, have both been subject to higher costs, factors that will eventually influence food and semiconductor prices respectively.
“My estimate that the Iran war has cost the typical American household $1,000 and counting is, if anything, conservative,” Zandi wrote. “The true cost is likely higher—meaningfully higher. It’s fair to ask whether it was worth it.”
The tabulation is already higher than Moody’s last estimate of the war’s cost to households. A month ago, a post authored by Zandi pointed to a total burden of $100 billion, coming out to a $750 bill per U.S. household.
The Trump administration has accused oil and gas companies of artificially inflating gas costs, pointing to the oil price comedown. But experts have warned since the war began there would be a delay between falling oil prices and normalizing bills at the pump, due to supply chain lags and the time it would require to resume pre-war traffic through the Strait of Hormuz.
And while gasoline prices will come down eventually, American taxpayers might be on the hook for military costs long after any peace deal is signed. In June, the Pentagon requested an additional $80 billion to cover its costs from the Iran war, TheWall Street Journal reported. That’s on top of costs the Pentagon will likely incur by having to repair the 20 U.S. military sites targeted by Iranian attacks in the Middle East, as well as the need to replace fired munitions and at least 40 damaged or destroyed military aircraft.
Some forecasts have gone even further.
“Wars always have a long tail of costs,” Linda Bilmes, a public policy expert at Harvard’s Kennedy School, told Fortune in a recent interview.
Accounting for its potential long-term financial implications, including infrastructure repairs, restocking costs, and payments to veterans with disabilities, the war in Iran could end up costing the U.S. economy over $1 trillion, Bilmes estimated. Based on the roughly 134 million households in the U.S. right now, that would represent a nearly $7,500 bill for each of them.
Prezentowane treści mają wyłącznie charakter informacyjny i prezentują opinie własne autorów. Treści te sporządzone zostały rzetelnie, z należytą starannością i nie stanowią podstawy do podejmowania decyzji inwestycyjnych, porady inwestycyjnej ani badań inwestycyjnych w rozumieniu art. 36 Rozporządzenia Delegowanego Komisji (UE) 2017/565 z dnia 25 kwietnia 2016 r. uzupełniającego dyrektywę Parlamentu Europejskiego i Rady 2014/65/UE w odniesieniu do wymogów organizacyjnych i warunków prowadzenia działalności przez firmy inwestycyjne oraz pojęć zdefiniowanych na potrzeby tej dyrektywy. Autor oraz podmiot rozpowszechniający nie ponoszą odpowiedzialności za wszelkie transakcje, szkody, poniesione wydatki oraz utracone korzyści powstałe w związku z decyzjami inwestycyjnymi podejmowanymi w oparciu te treści.
Informujemy, że inwestowanie na rynkach finansowych może wiązać się z istotnym poziomem ryzyka i wystąpienia znacznych strat zainwestowanych środków finansowych. Ze szczególną rozwagą należy traktować instrumenty finansowe oparte na depozycie zabezpieczającym.
Należy mieć również na uwadze, że historyczne wyniki nie stanowią gwarancji, że przyszłe rezultaty będą podobne.
Permanent income, not last year’s income, drives allocation.
A business owner who had a rough year, but whose underlying economics remain sound, should not be treated like someone whose long-term trajectory has changed. Temporary income fluctuations have almost no effect on the optimal allocation. What matters is the volatility of the permanent component of income — the durable earning power that is expected to persist over time.
This is a distinction advisers often make instinctively in conversation but rarely formalize in the portfolio.
The model also suggests that many working-age investors may be underweight equities. In many cases, it pushes allocations to 100% equities during the accumulation years, even with conservative capital-market assumptions. It is not the return forecast doing the work. It is the sheer size of human capital relative to financial wealth.
The asymmetry is striking. At a risk aversion of four — a level the authors consider reasonable for many investors — holding zero equities for life costs 7.9% of lifetime welfare. Holding 100% equities costs just 0.56%.
In other words, the model is far more forgiving of holding too much equity during the accumulation years than of holding too little. For investors whose human capital is large, stable, and bond-like, the greater liability may not be equity exposure. It may be failing to take enough of it.
But when income is correlated with the market, the answer changes. A business owner whose revenue rises and falls with the economic cycle already carries implicit equity exposure through the business. That client should generally hold less stock than a government employee with identical financial wealth. The direction is intuitive; the formula’s contribution is putting a number on the adjustment.
A growing number of Australians are taking advantage of Self-Managed Super Funds (SMSF) to finance their retirements.
As at June 2024, there were more than 625,000 SMSFs in Australia holding around $990 billion in assets. The top assets, by value, are listed shares (28% of total SMSF assets) followed by property at 21%. Indeed, with high growth in property values over recent years, more SMSFs are borrowing to purchase property in a bid to grow their members’ retirement savings.
But taking out an SMSF loan to fund residential and commercial property purchases is not like taking out a regular investment property home loan . There are certain rules that must be followed when borrowing for an SMSF investment.
Changes to SMSF borrowing rules
On 23 June 2026, the federal government announced it would no longer allow self-managed superannuation funds (SMSFs) to borrow money to fund investments in residential property.
From the date the legislation becomes official, SMSFs will have 45 days to finalise contracts already in place. (At this stage, the deadline is expected to be in mid- to late-August.)
Sale contracts and limited recourse borrowing arrangements finalised during this period will not be affected by the new rules.
After the 45 day period, SMSFs can no longer purchase residential property via a loan, but will still be permitted to buy a residential property outright, without finance.
SMSFs with existing limited recourse borrowing arrangements in place will be permitted to refinance loans under existing refinancing rules.
The new SMSF rules apply to residential property purchases only and will not affect SMSFs buying commercial or industrial properties.
This article will be updated after full details of the changes are known.
What is Limited Recourse Borrowing Arrangement (LRBA)?
One way for SMSFs to borrow money is through Limited Recourse Borrowing Arrangements (LRBA) loans. This means if there’s a default on the loan, the lender is limited only to the investment purchased when recouping the what’s owing on the loan.
Essentially, an LRBA is a financial arrangement that dictates SMSFs can purchase property with borrowed money, with the property held in a separate trust – known as a ‘bare trust’ – until the loan is repaid. That way, in the event there’s a default on the loan, the lender can only seize and sell the asset held in the trust and cannot pursue any other assets of the SMSF or its members.
LRBAs were introduced in 2007 to allow SMSFs to borrow money for medium- to long-term periods. Prior to this, SMSFs were only able to borrow for certain short-term situations. The superannuation rules were updated again in 2010 and LBRAs have since become a popular choice for funds investing in property and other assets.
One advantage of an LRBA is that it allows the SMSF to invest in assets that it may not otherwise be able to afford with the aim of boosting the fund’s returns for the benefit of its members. Let’s check some of the conditions of an SMSF loan.
See also : Tips and Guides for SMSF Loans
Rules of investing using a LRBA
The rules of LRBA investing can be summarised as follows:
Borrowed money can only be used purchase a single acquirable asset If the SMSF wants to purchase more than one asset, it will need to take out a loan for each separately.
The loan can only be used to purchase the property It cannot be used to improve, renovate, or maintain it.
The asset will be held in a separate bare trust The SMSF trustee will have a beneficial interest in the trust but not legal ownership of the asset while it is being paid off.
The SMSF trustee has the right to take over legal ownership when the loan is repaid
The lender only has recourse to the single asset purchased in the bare trust No other assets of the SMSF can be seized to repay the loan.
What is a single acquirable asset?
SMSFs can use LRBAs to borrow to acquire a single asset per loan. In property terms, this can be a residential, commercial, or farming property, but one loan must be taken out for each property separately. Generally, a single acquirable property asset is considered a property with one title.
If the SMSF is borrowing to purchase securities, loans must cover each parcel of shares for one entity separately. A portfolio of different shares or managed funds could not be managed under the terms of an LRBA.
How do SMSF loans differ from other property loans?
SMSF property loans tend to be more costly than other property loans as lenders consider them to be higher risk. The lender will need to be satisfied the fund will have the cash flow to service the loan repayments, allowing for current and future retirement pension payments or lump sum withdrawals.
From an SMSF point of view, loan documents and contracts need to be properly set up for SMSF borrowing, often requiring the services of a licensed financial specialist.
It’s also worth noting here that an SMSF can’t make alterations or change the character of a property until it pays off the SMSF property loan. It can, however, repair and maintain it.
What is the sole purpose test?
Any property or asset acquired by the SMSF with borrowed funds must meet what’s called the ‘sole purpose test’.
Under the test, the property must be purchased solely for the purpose of generating retirement benefits for members of the SMSF.
SMSFs are not allowed to borrow to invest in properties owned by a related party of a SMSF member. The purchased property can also not be lived in or rented by a fund member or any fund member’s related parties.
However, if the SMSF purchases a commercial premises, it can be leased to a fund member for their business, as long as it is leased at market rates and specific rules are followed.
Features of SMSF loans
Loan size
Generally, lenders will stipulate the maximum loan-to-value ratio (LVR) for an SMSF loan is 70%, although there are lenders who’ll accept up to 80% LVR.
Loan purpose
The SMSF loan must only be used to acquire a property. Funds cannot be used to improve or alter a property’s structure. Any property maintenance and other related expenses must be financed using other funds from within the SMSF.
Options after the loan term
SMSF loans typically have terms of up to 20 years, although some lenders will offer terms up to 30 years. At the end of the term, the SMSF has the option to either repay the loan and acquire full ownership of the asset or sell it before the term ends.
As is often the case with a normal home loan, when the property is sold, the proceeds will pay off any outstanding amount owed on the loan and any other associated costs. Any leftover will go to the SMSF.
See also : A complete guide to property investment through Self-Managed Super Funds
The table below features lenders who specialise in SMSF loans with some of the lowest interest rates on the market:
Lender
Home Loan
Interest Rate
Comparison Rate*
Monthly Repayment
Repayment type
Rate Type
Offset
Redraw
Ongoing Fees
Upfront Fees
Max LVR
Lump Sum Repayment
Extra Repayments
Split Loan Option
Tags
Features
Link
Compare
Promoted Product
Disclosure
6.94% p.a.
6.96% p.a.
$3,306
Principal & Interest
Variable
$0
$230
70%
Disclosure
6.94% p.a.
7.04% p.a.
$3,306
Principal & Interest
Variable
$0
$0
70%
Disclosure
7.14% p.a.
7.19% p.a.
$3,374
Principal & Interest
Variable
$0
$220
70%
Disclosure
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
SMSF loans with personal guarantees
To get around limited recourse on SMSF loans, some lenders may ask for a personal guarantee from members of the SMSF. Under current laws, this is permitted provided the guarantor’s rights are limited to the asset being acquired.
As with any guarantor loan arrangement, it could put members’ personal assets at risk if there’s a default on the SMSF loan. Essentially, a personal guarantee means if the SMSF is unable to service the loan and a balance is owed after any property foreclosure sale, the lender can come after the guarantor/s’ personal assets.
Some lenders may be willing to negotiate personal guarantees terms. Some may even be willing to accept a higher deposit or a higher interest rate in lieu of a personal guarantee to secure the loan.
A specialist SMSF mortgage broker may be able to assist you in securing the loan terms and conditions that best suit your circumstances.
Complexities of SMSF loans
Once an SMSF loan is formally approved, the structure will be vetted by the lender’s legal department. It’s estimated that between 55% and 60% of legal structures can fail this step, which can lead to delayed settlements and penalty interest being applied.
It’s also worth noting Australia’s big four banks haven’t engaged in SMSF lending since 2018 due to the complexities of investigating SMSF ownership structures and ensuring the loans are legally sound.
Some loan applications can fail due to a lack of knowledge of what is permissible. Given the highly technical and specialised nature of SMSF borrowing, it’s worth engaging the services of a specialist SMSF mortgage broker or financial advisor to ensure the property contract and loan structure are legally sound and fit for purpose.
Image by Gabrielle Henderson via Unsplash
First published in March 2023
Speak to an SMSF lending specialist
Whether you’re looking to refinance or purchase investment property with your SMSF our partners can help you find the right SMSF home loan.
American Express has added a new redemption option, you can now redeem Membership Rewards points via Apple Pay check out ‘Pay With Points’. Unfortunately you only receive 0.7¢ per point ($7 per 1,000 points) making this useless. One can hope that at some stage they will offer some sort of promotion for using this redemption option but in the past they haven’t with similar offerings apart from Amazon.
Most people will get better value from transferring points to American Express travel transfer partners.
Since the start of the U.S.-Iran conflict and the closure of key shipping lanes in the Strait of Hormuz, businesses have been affected by supply chain issues and rising fuel prices.
Jet fuel became a particularly expensive commodity, more than doubling in price from $800 per tonne prior to the conflict to a peak of $1,903 in April. The current price of kerosene stands at $918 per tonne, according to latest figures from Argus Media and airlines have had to scramble to secure fuel supplies.
Among the companies feeling the pressure is German delivery company DHL, whose extensive air freight operations make it particularly exposed to disruptions in air fuel supplies. DHL Express Europe, its international shipment division, operates one of Europe’s largest aircraft fleets. Its 295 planes, which include third-party aircraft and charters, ship packages to 220 countries and delivered 248 million shipments worldwide last year.
Its European CEO, Mike Parra, says that DHL’s diversified approach has helped the company navigate the fuel crisis and secure its kerosene supplies through the summer months.
There have been three key elements of the strategy. Firstly, DHL has diversified the markets where it purchases fuel, with the U.S., South Korea and Nigeria increasing their air fuel production.
Tankering—where aircraft are intentionally loaded with extra fuel to avoid the need to refuel at a destination where prices are higher—has also allowed DHL Express to be more cost-effective in its operations.
And lastly, it’s built up its sustainable fuel supply. DHL Express is one of the largest purchasers of sustainable aviation fuel, which is derived from waste and residue oils and fats. One-tenth of its air fuel is sustainable and it has set a target for 30% to be sustainable by 2030.
“We can’t predict the volatility, but we can manage the complexity that goes around it”
Mike Parra, DHL EUropean ceo
DHL Express’s network planning team, which Parra describes as the “central nervous system of the business”, has been essential for implementing this strategy. “Our experts analyze fuel prices and decide where’s best to fuel our planes,” Parra says. “Flying planes full of fuel also takes a hit on your payload, so there are a lot of calculations to manage.”
Its internal shipment tool VISTA also helps employees review the weight and balance of DHL Express’s aircraft, allowing them to work out the most cost-effective and efficient routes. “We’re tuned into everything and we’re watching everything,” Parra adds. “That’s our responsibility as a global business.”
While DHL Express has sought to keep prices competitive, it has had to increase its fuel surcharge for air shipments in order to maintain margins. The surcharge—which is used to offset spikes in fuel costs and is calculated on the average daily price of kerosene—peaked at 48.75% and currently stands at 40.75%. “It’s not a mechanism to make money, it’s a mechanism to protect costs,” Parra explains.
The surcharge is now updated on a weekly basis and is calculated on a monthly lag to account for the frequent rise and fall in fuel costs. Historically, this was based on prices over an eight-week period and was updated monthly.
Staying the course in the Middle East
Fluctuating fuel costs are not the only challenge facing the logistics company. Conflict in the Middle East has also had a direct impact on the business.
A security risk surcharge has been introduced for deliveries into war-impacted areas, such as Israel and Lebanon, to offset the increased aircraft insurance prices. “We are having to land fuel, turn around, and get out, because you don’t want to have an asset sitting idle there,” Parra says.
DHL Express has also implemented road “linehaul” routes in the Middle East, where trucks and vans distribute packages to territories where it is not safe to land a plane. “That may require using a little bit more fuel or adding a little more complexity,” Parra adds. “But it meant we were quick to bounce back as a company.”
Despite the current conflict in the Middle East and the increased challenge this brings, DHL Express remains committed to the region. Last year, it announced plans to invest more than €500 million in the Middle East, with a focus on the Gulf markets of Saudi Arabia and the UAE.
“We’re well-positioned, we’re committed, and we’ve made big investments in the Middle East,” Parra says. “Israel is a strong market for us, and one that I’m sure we will continue to see growth in.”
Lessons from the pandemic
Parra says that adapting to complexity has become a “second-hand skill” for the business after its operations were tested during the pandemic.
“COVID was by far a bigger challenge because of the health and safety risks to employees and the overnight boom in e-commerce,” he says. “We were also the biggest transporters of vaccines and had to work with governments and organize escorts after our planes landed.”
Between December 2020 and May 2021, DHL helped distribute 440 million Pfizer vaccines to 92 countries. “COVID taught us a lot,” he adds. “We got really good at managing the complexity.”
The additional investment in facilities and road transportation DHL Express made during the pandemic has helped put the business in good stead for navigating the current geopolitical uncertainty.
Protecting workers from uncertainty
The heightened uncertainty is also affecting DHL Express’s workforce. Parra has noticed more staff mentioning personal challenges during one-to-one meetings or in coaching sessions.
“People said they were going through challenges at home or were being impacted by the crises going on or prices increasing. The U.K. is not a cheap place, as you know, and people are worried,” he says.
In response, DHL Express has increased the number of staff trained in mental health first-aid —it now has 202 mental health first-aiders—and implemented a five-step wellbeing strategy.
The key elements of this strategy are connection, staying active, learning, giving and being present. In practice, this involves building a supportive employee culture, promoting physical activity, offering volunteering initiatives and encouraging people to look out for others and prioritize safety.
“Wellbeing is a topic that is growing in importance—and not just internally—so we’re investing in it,” Parra says.
While supply chain shocks, geopolitical fallouts, and conflict are hard to predict, businesses can control how well they prepare, build resilience and adapt. As Parra says: “We can’t predict the volatility, but we can manage the complexity that goes around it.”
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In this video, I share a story of a guy who turned $100 into $8000 by p2p trading in rwanda.
DISCLAIMER: My content is never Financial advice. Just offering my opinion and entertaining. Feel free to start asking and upvoting questions. Be sure to leave a comment, share the video, and subscribe!
