Day: August 11, 2025

Moscow Mayor Sergei Sobyanin reported that Russian air defense systems intercepted seven Ukrainian drones targeting the capital early Monday morning, marking the latest escalation in the ongoing conflict, reports 24brussels.

Ukraine has consistently launched drone and missile assaults against Moscow and surrounding areas throughout the conflict. Both Kyiv and Moscow maintain that their operations are directed solely at military targets, denying any intention to harm civilians. However, the war, which escalated into a full-scale invasion against Ukraine in February 2022, has resulted in thousands of civilian casualties.

What damage has the Ukrainian drone attack caused in Russia?

In a separate series of drone strikes, three people lost their lives across the Tula and Nizhny Novgorod regions, according to Russian officials and the defense ministry. Furthermore, two fatalities occurred in the Tula region shortly before midnight on Sunday. Tula Governor Dmitry Milyaev confirmed that two others were hospitalized due to the attack.

In the Nizhny Novgorod region, Governor Gleb Nikitin revealed that one person was killed, and two were hospitalized after a Ukrainian drone strike targeted an industrial site. Russian air defense reported intercepting 59 Ukrainian drones during the same timeframe, including 12 over Tula and two over Moscow.

How is Ukraine targeting industrial and military sites in Russia?

The Ukrainian strikes have focused on industrial and military installations in western Russia, employing long-range Kamikaze drones for deeper incursions. These drone attacks not only claim lives but also ignite fires at vital facilities, including oil refineries and military production sites. In response, Moscow has bolstered its air defense systems and reported the number of drones intercepted.

What was the scale of Ukraine’s largest attack on Moscow?

On March 11, 2025, Ukraine orchestrated its most extensive drone assault on Moscow, deploying over 90 drones. Russian air defenses intercepted at least 91 drones in the capital, while a total of 337 drones were reported downed across other regions during the assault. The attack resulted in the deaths of three workers at a meat processing facility near Domodedovo airport and injured 17 others, including children.

• Gail Galusha took two major pay cuts: one to prioritize family and one for her career.
• She said the first was the right decision because it brought her closer to family and career goals.
• The second pay cut helped transition her career, but it came with challenges that weren’t worth it.

This as-told-to essay is based on conversations with Gail Galusha, a 53-year-old who took significant pay cuts twice in her career. Her identity and salary have been verified by Business Insider. This conversation has been edited for length and clarity.

Around the mid-1990s, I was doing really well in the private sector, working in data management for the Cardiology Associates of Albany and running a side transcription business for a local orthopedics group and pain management physician.

I had a great career. Then things got difficult really fast.

I had a bad car accident right before I welcomed home my adopted baby boy, and the woman who hit me died. I was able to get my son home, and I continued working in the medical field for a bit, but then other events happened.

I lost my mom to cancer, my brother-in-law was tragically killed, and I was struggling in my marriage. All of a sudden, I was like, “What am I doing?” I felt like there had to be more to life than this.

I took two big pay cuts in my career

I decided to leave my medical job and join the public sector for a clerk typist role at the school my kids were going to. I wanted to be closer to my kids, and it was a wonderful opportunity.

But it came with over a 20% pay cut.

It was a challenge financially. I still paid my bills, but my lifestyle completely changed. We didn’t take fabulous vacations anymore, but I tried to do weekend getaways every chance I could. We would go camping and ride our bikes a lot.

There were times when I felt like I could really use the extra money. But I was in the school district where my kids were walking the halls, and I knew that role would be a ticket to my future success.

It wasn’t long before I moved up. Within two years, the regional information center serving over 100 public school districts recognized me and invited me to work for them. I took the job, and my pay increased.

Seven years later, I was asked to join the administrative cabinet of a large public school district, and my pay jumped again.

Then, I had the opportunity to leave K-12 and enter higher education. It was a 15% pay cut, but I was still keeping my pension and health insurance.

Again, I looked at it and thought it was purposeful for me. My kids were at this point in college, so I didn’t have the guilt of leaving them. I sold everything I owned, including my house, and I went two hours away to this college.

I was there for about a year and a half, and it just wasn’t the right atmosphere or the right place for me to be. So I came back home and took another job in education.

The second pay cut probably wasn’t worth it

I didn’t make a mistake taking a pay cut the first time.

I knew back then that Elisabeth Kübler-Ross famously advised against making drastic changes during times of chaos, but I felt like my life was spiraling out of control. I had to make life better for myself and my kids.

When I made the first decision, I was running back home to my kids. It was in my community, and I didn’t feel separate from them. I also love education and I knew it was my ticket to freedom and progress.

The second cut wasn’t the best decision. I thought because it worked the first time, maybe it would work again. I went away from friends and family. I was still going toward education and learning, and I don’t regret that. But I should have taken more time with that decision.

After selling my house, it was expensive to rent, and I thought, “Maybe I should have kept my home. I should have stayed.”

I’m a state worker, so those decisions affected my pension, as well. When you take a pay cut, you need to make sure that it is purposeful, works for your personal and financial life, and is the right thing to do.

The first time I took a pay cut, it worked for me personally and financially because I still made enough to pay my bills, and I wanted to do it. The second time, it was purposeful for my career, but it didn’t align as much with my personal life, and I didn’t need to do it.

• Daniel Ramsey, founder of MyOutDesk, started saving and investing for his children when they were born.
• Ramsey emphasizes financial education, using Roth IRAs to teach compound interest.
• He advocates for involving children in investment decisions to ensure responsible wealth management.

This as-told-to essay is based on a conversation with Daniel Ramsey, the 47-year-old founder of MyOutDesk in Sacramento, California. It has been edited for length and clarity.

I’m the CEO and founder of MyOutDesk, a virtual assistant company that has served more than 8,000 companies. I’m also the founder and CEO of the nonprofit MOD Movement, a nonprofit dedicated to equipping communities with the essentials in education, housing, and economic empowerment.

Growing up in poverty fueled my career resilience as a serial entrepreneur. I founded MyOutDesk in 2008 after working in real estate and realizing that business owners were drowning in necessary administrative tasks. While initially a real-estate professional, contractor, developer, and mortgage broker, I sold and divested my other businesses to focus solely on MyOutDesk.

My net worth is around $100 million, and I make more than $1 million a year in salary. I’m both saving money for my children, ages 4, 9, and 12, and teaching them how to invest properly.

I share my entrepreneurial tenacity to help guide my children’s futures

I’ve learned the importance of time and compounding interest. If I could go back to my 18-year-old self, I would’ve put part of every check into a brokerage account, like an IRA. Had I done that, my net worth would likely be double what it is.

All three of my children have brokerage accounts with Roth IRAs. They also have their own bank accounts and opportunities to earn money. They have their own savings accounts where they save their money: 1/3 for savings, 1/3 for spending, and 1/3 for a charitable cause.

I believe the Roth IRA serves as an exercise to teach the kids to set aside money and see how fast it will grow with compound interest over time. We discuss as a family how this creates significant gains over time.

They already make investment decisions to set them up for long-term success

Each year since starting the accounts for them, I’ve contributed the maximum allowed for a Roth IRA, which is $7,000 for 2025. Since our kids were young, they have created ways to earn money. Our job as parents is to show them slowly how to manage money and investments.

My eldest, for example, has invested in Disney since she was 5. She also owns shares of Amazon and Berkshire Hathaway. When she receives her paycheck, I sit with her to invest in her Roth IRA and discuss her next investment.

By about the age of 13, we’ll start allowing our children to take over some of their finances and make decisions with parental guidance. (We don’t allow them to invest in companies we don’t agree with as of now.) This will help give them the autonomy they crave and teach them to make financial decisions and mistakes on their own so they’re prepared when they reach adulthood.

Here’s my best advice for parents setting up investment accounts for their kids

Prioritize togetherness and education, both financial and emotional. While creating a financial umbrella can be helpful, it’s far more beneficial to teach them strong core values, ensuring they know how to work hard and be good people. Social, intellectual, relational, and emotional capital are vital to raising independent and successful children who can properly manage their money.

Financial education is also important. Wealth can be a weapon or a tool, and without the proper knowledge, it can be very destructive. When I set up investment accounts for my children, I spent time helping them understand what to do with their money and how to use this wealth to serve others, making sure they use money as a tool that meets their values.

Make sure your kids know their investment options, too

The most common mistake I see parents make is failing to educate their kids on the choices they’re making and the accounts they’re selecting.

First, parents have to understand the account they are making. A Roth IRA, for example, is in the kid’s full control when they turn 18. If they aren’t educated on wealth management, they can easily blow through their investments.

Conversely, a trust in which the parent has complete control can feel too restrictive for your child as they enter adulthood. Ultimately, it’s important to include and inform your children from an early age to ensure a smooth transfer of wealth and that they honor this incredible gift.

We started an annual daddy-daughter trip with our kids at six, customizing each trip to our child’s interests

My eldest is intellectual, but my middle child is more experiential, so I meet them where they are. This trip is a chance to connect and have these early — and regular — conversations about money that are age-appropriate. As they get older and become more self-actualized, I increase the level of conversation.

My oldest invested in Disney when she was 5, and I took her to her first shareholders’ meeting and introduced her to the stock market. Here, she was able to ask Bob Iger a question, which piqued her interest in investing.

We do talk about investments that are in their Roth IRA as a family. We have an annual trip to Disneyland, where they can act, touch, and feel the company, and give us a chance to discuss the stocks and investments.

10 years ago, I knew nothing about generational wealth

I was determined to raise my children to be responsible humans who were empowered to pursue what they loved while being contributing members of society. I also didn’t want my wealth to hinder their future.

Since then, I’ve read many books on wealth, such as “Rich Dad Poor Dad” and “The Richest Man in Babylon,” listened to every podcast I could find, such as “Acquired” and “All-In-Podcast,” and met with peer groups of ultra-high-net-worth individuals through R360 Global. In the beginning, I was looking for a shortcut, but I kept coming back to education.

While there are no shortcuts, one of the most important lessons I’ve learned is that a financial umbrella will only take your children so far. Embracing those core values, spending time with them, and teaching them what to do with their money when they have it is far better than simply creating an investment account.