In October of 2008, President Bush signed a piece of legislature designed to address the nation's mortgage crisis. The Troubled Asset Relief Program, commonly known as the TARP bailout, enabled the American government to buy assets and equity from financial institutions. It was theorized that the American government would strengthen its financial sector with what was expected to be an investment of $356 billion. As of October 2010, the American government has regained almost $320 billion of its investment, with an estimated outstanding cost of around $30 billion. Companies like GMC, American Express, AIG, Bank of America, and Citigroup have repaid the US Treasury's stake in their organization.
There are a variety of types of assets that the United States government can purchase through the TARP bailout. These include a wide variety of residential and commercial mortgages. One of the only stipulations of the legislation is that the purchase of the "troubled asset" must promote financial market stability. As such, banks and other financial institutions can unload certain assets to the government and improve their liquidity, stabilize their balance sheets, and prevent further drastic financial losses.
Companies that participated in the program were relatively autonomous and unaccountable for their plans for the money received from the United States government. As such, a number of potential fraud cases came to light when it was discovered that some companies were misusing or misappropriating the funds. As of January 2010, there were 86 criminal and civil investigations into companies and individuals responsible for the money in question.
As of October 2010, new information has been made available that shows the TARP bailout has actually gained $25 billion in profits. Two-thirds of the total funds borrowed to banks and other organizations have been fully paid back. While the American public may have been against the program when it was first introduced, it appears to have been financially wise in the long run. This 8 percent return on investment is much greater than the 3 percent return on treasury bonds during the same period. The taxpayers' money will come back with gains in a comparatively short period of time.
Those against the TARP bailout program claim that the American government may have avoided financial collapse but has not fixed any of the underlying problems that brought us to that near-disaster in the first place. The foundations of the financial crisis still have not been addressed so that we can be sure not to make the same mistakes again. However, an 8 percent return in two years is an impressive figure and one that deserves discussion.
Many politicians that supported the TARP bailout were highly criticized and even suffered loss of jobs and reputation. Many taxpayers blamed big banks and big business for the near-collapse in the first place, even though politicians took most of the heat. In the end it doesn't help to say "I told you so," but supporters of the program must feel justified in at least a little satisfaction.
Curious about potential TARP bailout benefits? For a comprehensive review of this complex matter, read on at: http://www.internettollfree.com.
Article Source: http://EzineArticles.com/?expert=Anna_Woodward
Showing posts with label Family Finances. Show all posts
Showing posts with label Family Finances. Show all posts
Sunday, 19 December 2010
The Benefits You Can Expect From The Open Market Option
Although may people will enjoy a relatively good life during their employment days, problems might start cropping up once you are retired. With pension shortfalls in many countries in Europe, there is a need for people to pursue other options to ensure that they obtain a respectable annuity rate. This is why the open market option is essential.
With the open market option, a person approaching retirement has the option to shop around for different options to convert the pension amount into an annuity. This allows one to gain more from the pension rather than depend on the default amount offered by their pension provider. So the main importance of this option is to determine whether a person gets good value pension or not.
The option was introduced in the UK with the finance act 1978. As a pension holder, you are supposed to use before you get any benefits from your regular provider. This applies both for regular and lump sum income.
With different insurance companies offering different annuity rates as they compete with each other, one can choose any offer that suits him. Normally using the open market option, people have been able to increase the amounts received with up to twenty five percent or more than what their ordinary pension provider offers.
Another advantage with this option is that you are not obligated to take a particular annuity type. In most cases, people opt for fixed annuity or conventional annuity which provides a consistent income all through their retirement. With the open market option, one can also opt for annuities with an investment risk. Such annuities boost a persons chance of receiving a higher income. However, due to the unpredictability of investments, the annuities might not go so well. This can leave a person with lesser income than the targeted amount.
One also has access to annuities linked to the medical circumstances one is under. These impaired or enhanced life annuities are normally designed to pay a higher rate to someone who might not live as long as the retirees with perfect health. This means that the retiree has certain conditions such as heart conditions, diabetes and certain types of cancer.
So, how should one go about it? Although most people believe that sticking with the company that was in charge of their pension during employment is the best option, this is not always the case. To get a better rate, you have to carry out some kind of research. This should start with your current provider. You should then use the information to gauge what others are offering. Remember, there are different factors to consider with each offer including the percentage increase for impaired or enhanced annuity.
Although the open market option presents many advantages to the consumer, most people ignore it. Pension providers might also discourage you from taking this route. However, you should know it is your legal right, so you should explore it before taking the rate offered. Remember, once you have bought the annuity, there is no going back. You cannot change the provider or type of annuity so choose wisely.
Retirement Solutions provide independent advice on the open market option to find you the best annuity rates. We can also give advice on the best annuities.
Article Source: http://EzineArticles.com/?expert=Wilhelmina_Thomas
With the open market option, a person approaching retirement has the option to shop around for different options to convert the pension amount into an annuity. This allows one to gain more from the pension rather than depend on the default amount offered by their pension provider. So the main importance of this option is to determine whether a person gets good value pension or not.
The option was introduced in the UK with the finance act 1978. As a pension holder, you are supposed to use before you get any benefits from your regular provider. This applies both for regular and lump sum income.
With different insurance companies offering different annuity rates as they compete with each other, one can choose any offer that suits him. Normally using the open market option, people have been able to increase the amounts received with up to twenty five percent or more than what their ordinary pension provider offers.
Another advantage with this option is that you are not obligated to take a particular annuity type. In most cases, people opt for fixed annuity or conventional annuity which provides a consistent income all through their retirement. With the open market option, one can also opt for annuities with an investment risk. Such annuities boost a persons chance of receiving a higher income. However, due to the unpredictability of investments, the annuities might not go so well. This can leave a person with lesser income than the targeted amount.
One also has access to annuities linked to the medical circumstances one is under. These impaired or enhanced life annuities are normally designed to pay a higher rate to someone who might not live as long as the retirees with perfect health. This means that the retiree has certain conditions such as heart conditions, diabetes and certain types of cancer.
So, how should one go about it? Although most people believe that sticking with the company that was in charge of their pension during employment is the best option, this is not always the case. To get a better rate, you have to carry out some kind of research. This should start with your current provider. You should then use the information to gauge what others are offering. Remember, there are different factors to consider with each offer including the percentage increase for impaired or enhanced annuity.
Although the open market option presents many advantages to the consumer, most people ignore it. Pension providers might also discourage you from taking this route. However, you should know it is your legal right, so you should explore it before taking the rate offered. Remember, once you have bought the annuity, there is no going back. You cannot change the provider or type of annuity so choose wisely.
Retirement Solutions provide independent advice on the open market option to find you the best annuity rates. We can also give advice on the best annuities.
Article Source: http://EzineArticles.com/?expert=Wilhelmina_Thomas
7 Ways to Create Multiple Streams of Income
Make right choices: I want to share some of my experiences with you not to impress or woe you, but to impress upon you that dreams do still come true. Especially, if you are having the right dreams at the moment. When I was in the university, I often dream about self-reliance. As a result, I tried to blend my academic field towards independence. However, two years after my graduation, I studied Network Administration. This time, with a new dream in mind, which was to become a network administrator or an information analyst. I jumped into the job market, got one in an IT firm, only to dump it six months later when I realized that I had taken the wrong track. Thus the spirit of not having to rely on monthly pay hunted me more than ever. Then, I concluded that there is nothing wrong in obeying ones' thirst. So I proceeded to pursue my initial dreams about earning residual income through creating multiple income streams rather than relying on employer's salary that can hardly make one wealthy.
Take responsibility of your dreams: Becoming wealthy is every man's dream, but its achievement belong to only the determined few who could take up in their hands, the responsibility of realizing their dreams. Wealth for pure wealth sake, can be perceived as greed and that's one of the most negative repugnant factor to the chicken-hearted. Therefore, stand your ground and be sure to defend your dreams and realize them. You are where you are today as a result of your dreams. Your dreams are your choices, therefore, dream big, believe and achieve!
Find Your Passion: Be in tune with the opportunities you are passionate about. Your chances of making it in life becomes too high when you have the right dreams you are very passionate about. Ensure they are big enough. Remember the experience I shared with you at the beginning. I have so much passion about independence, owning my responsibilities, fulfilling my dreams and earning multiple passive income streams. Today I am out of the net of financial bankruptcy.
Focus: This is one major trap for many. Get stocked to your dream. So many have missed it when at the point their friend or parent help them locate a job. Remember jobs cannot make you wealthy. They can only provide you with daily bread. Robert Kiyosaki in his Rich dad poor dad said your employers cannot make you rich, they can only make you poor. And I maintain that residual income is not achieved through jobs.
Motivation: Define your motivators and work by them. A person's degree of success in anything he/she does, depends on the amount of continual effort and determination the person puts in. Whether you want to achieve overall career success or small business success, you must have a burning desire for whatever it is you want to achieve. And unless you're fuelled by passion, it's too easy to experience overwhelming lose of focus and just plainly give up.
Take the first simple step: It is certain that goals are nothing without action. Write your success goals down. Make them specific, measurable and realistic. Carry them about in your purse or wallet. Write down positive affirmations for your goals and glue them on the wall beside your bed, by your living room and at strategic spots where your eyes can always catch them. Some people no matter their level of intelligence and academic status find it very hard to take the first step. So by your positive affirmations the yoke can be broken.
Fulfilling your dreams and earning multiple streams of income: Having taken the six steps above, your next step should now be to develop the right achiever's motivated mindset. Unless you change your mind set with a burning desire to climb to the topmost of the financial freedom ladder. Nevertheless, when you are presented with an opportunity where many other people are having the same opportunity with you, do not pass it over, especially opportunities that appeal to your dreams. Ensure you read articles that can develop your mindset with ideas and experiences of what other people who succeeded did to excel. Uphold a resolved determination to achieve your dream in the shortest possible time bearing in mind that an unfilled dream is like an aborted baby. Then take responsibility for the choices you've made in life.
Article by Georgeline Ukwuoma
To learn more information on how to come out from financial hardship visit http://createyourownfinancialindependence.blogspot.com
Article Source: http://EzineArticles.com/?expert=Georgeline_Ukwuoma
Take responsibility of your dreams: Becoming wealthy is every man's dream, but its achievement belong to only the determined few who could take up in their hands, the responsibility of realizing their dreams. Wealth for pure wealth sake, can be perceived as greed and that's one of the most negative repugnant factor to the chicken-hearted. Therefore, stand your ground and be sure to defend your dreams and realize them. You are where you are today as a result of your dreams. Your dreams are your choices, therefore, dream big, believe and achieve!
Find Your Passion: Be in tune with the opportunities you are passionate about. Your chances of making it in life becomes too high when you have the right dreams you are very passionate about. Ensure they are big enough. Remember the experience I shared with you at the beginning. I have so much passion about independence, owning my responsibilities, fulfilling my dreams and earning multiple passive income streams. Today I am out of the net of financial bankruptcy.
Focus: This is one major trap for many. Get stocked to your dream. So many have missed it when at the point their friend or parent help them locate a job. Remember jobs cannot make you wealthy. They can only provide you with daily bread. Robert Kiyosaki in his Rich dad poor dad said your employers cannot make you rich, they can only make you poor. And I maintain that residual income is not achieved through jobs.
Motivation: Define your motivators and work by them. A person's degree of success in anything he/she does, depends on the amount of continual effort and determination the person puts in. Whether you want to achieve overall career success or small business success, you must have a burning desire for whatever it is you want to achieve. And unless you're fuelled by passion, it's too easy to experience overwhelming lose of focus and just plainly give up.
Take the first simple step: It is certain that goals are nothing without action. Write your success goals down. Make them specific, measurable and realistic. Carry them about in your purse or wallet. Write down positive affirmations for your goals and glue them on the wall beside your bed, by your living room and at strategic spots where your eyes can always catch them. Some people no matter their level of intelligence and academic status find it very hard to take the first step. So by your positive affirmations the yoke can be broken.
Fulfilling your dreams and earning multiple streams of income: Having taken the six steps above, your next step should now be to develop the right achiever's motivated mindset. Unless you change your mind set with a burning desire to climb to the topmost of the financial freedom ladder. Nevertheless, when you are presented with an opportunity where many other people are having the same opportunity with you, do not pass it over, especially opportunities that appeal to your dreams. Ensure you read articles that can develop your mindset with ideas and experiences of what other people who succeeded did to excel. Uphold a resolved determination to achieve your dream in the shortest possible time bearing in mind that an unfilled dream is like an aborted baby. Then take responsibility for the choices you've made in life.
Article by Georgeline Ukwuoma
To learn more information on how to come out from financial hardship visit http://createyourownfinancialindependence.blogspot.com
Article Source: http://EzineArticles.com/?expert=Georgeline_Ukwuoma
Take More Debt to Eliminate Debt
Millions of people are living every day, pressured with being under a lot of debt. All of us would love to be debt-free, but most of us do not know how to do it. This article will show you a simple way on how you can minimize your debt and the interest rates, giving you more time to pay what you really owe.
If you want to eliminate or be free from debt, you need to make another debt. Yes! Acquiring another debt with low interest rates will help you pay off what you owe. Using the money that you have borrowed, pay all your debts with high interest rates. This will help you minimized the number of your creditors, and will also help you ease the task of managing your debt.
This is the most basic way of eliminating debt. Would want to manage 100 $500 with 4% interest per month or $50,000 with 2.5% interest per month? Of course your answer will be the one that offers 2.5% interest rate per month. This will allow you to have the same amount of money without paying the same amount of interest.
This process is called loan consolidation, once you have successfully consolidated all your loans, paying your debt monthly will be easier because you only have to pay fewer creditors. There are a lot of ways to deal with debt, and loan consolidation is one of the easiest ways to do it. Consolidating will also help you easily check how much money you owe, and how much do you have to pay every month.
Visiting community forums dedicated to loans will help you learn more about eliminating debts. Members of forums are experts in debt management, and you can get the best solutions and suggestions on how you can deal with debt easily.
Another way that most people are doing in order to eliminate debt is called bankruptcy. This is a solution that some people are choosing, but always keep in mind that this option needs a great price that you will have to deal with all your life. If bankruptcy is filed, the court will be appointing a trustee who will sell all your assets in order to pay the creditor. Although this will help you eliminate your debt, your credit rating will be ruined forever, making it hard for you to ask for money whenever you need it for emergency purposes.
I did a little research for you. Start getting yourself out of debt, possibly as early as this week. Visit Debt Relief Solution
Article Source: http://EzineArticles.com/?expert=JacobL_Redmon
If you want to eliminate or be free from debt, you need to make another debt. Yes! Acquiring another debt with low interest rates will help you pay off what you owe. Using the money that you have borrowed, pay all your debts with high interest rates. This will help you minimized the number of your creditors, and will also help you ease the task of managing your debt.
This is the most basic way of eliminating debt. Would want to manage 100 $500 with 4% interest per month or $50,000 with 2.5% interest per month? Of course your answer will be the one that offers 2.5% interest rate per month. This will allow you to have the same amount of money without paying the same amount of interest.
This process is called loan consolidation, once you have successfully consolidated all your loans, paying your debt monthly will be easier because you only have to pay fewer creditors. There are a lot of ways to deal with debt, and loan consolidation is one of the easiest ways to do it. Consolidating will also help you easily check how much money you owe, and how much do you have to pay every month.
Visiting community forums dedicated to loans will help you learn more about eliminating debts. Members of forums are experts in debt management, and you can get the best solutions and suggestions on how you can deal with debt easily.
Another way that most people are doing in order to eliminate debt is called bankruptcy. This is a solution that some people are choosing, but always keep in mind that this option needs a great price that you will have to deal with all your life. If bankruptcy is filed, the court will be appointing a trustee who will sell all your assets in order to pay the creditor. Although this will help you eliminate your debt, your credit rating will be ruined forever, making it hard for you to ask for money whenever you need it for emergency purposes.
I did a little research for you. Start getting yourself out of debt, possibly as early as this week. Visit Debt Relief Solution
Article Source: http://EzineArticles.com/?expert=JacobL_Redmon
Mortgage Loans and Mortgage Rates
If you want to buy a property and don't have sufficient funds for the purpose then taking mortgage loans becomes a necessity. These loans are given by banks or financial institutions and they have to be returned as and when mentioned in the agreement. Some amount of interest is supposed to be paid along with installments. The mortgage rates differ from country to country and from state to state. They also depend upon the type and value of the property being bought. The reliability of the client is checked before the loan is approved.
It can be paid back on a monthly, quarterly an yearly basis and the mortgage rates also differ accordingly. Canada is a growing economy more and more people and businessmen are buying properties of their own and for this person they are applying for mortgage loans on a large scale. Mortgage rates in Canada differ from those in other states. The loan cane be returned along with interest within 6 months or within the amount of years mentioned and agreed upon.
Mortgage loans can be taken from banks that are offering favorable services. If people are asking for a very large amount their reliability should be checked thoroughly so that there are no chances of money going in the hands of thieves. The mortgage rate in Canada depends upon the loan applied for and the value of the property.
Sometimes something is kept as security with the bank when loads are being given. These are called as secured mortgage loans. In the case of secured loans the value of the security should be more than the amount being sanctioned. Getting loans has become very easy now. One must keep in mind the amount of income he earns before applying for a loan. If it is not possible to return the money the borrower shouldn't apply for a loan.
Mortgage rates keep fluctuating depending upon the value of the property. If the value increases the rate goes high and vice versa. If in case the owner of the property fails to pay back the loan the bank or financial institution can take full possession of the property. When applying for a mortgage loan the entire amount will be given or some part of it will be given and the borrower will have to pay the rest on his own.
It is very essential to keep up with the fluctuation of the mortgage so that one has proper knowledge about the current rates in the market.
Here at Mortgage Rates Canada, we have shared a few tips to help you understand mortgage services better.
Article Source: http://EzineArticles.com/?expert=Alvaro_Buckley
It can be paid back on a monthly, quarterly an yearly basis and the mortgage rates also differ accordingly. Canada is a growing economy more and more people and businessmen are buying properties of their own and for this person they are applying for mortgage loans on a large scale. Mortgage rates in Canada differ from those in other states. The loan cane be returned along with interest within 6 months or within the amount of years mentioned and agreed upon.
Mortgage loans can be taken from banks that are offering favorable services. If people are asking for a very large amount their reliability should be checked thoroughly so that there are no chances of money going in the hands of thieves. The mortgage rate in Canada depends upon the loan applied for and the value of the property.
Sometimes something is kept as security with the bank when loads are being given. These are called as secured mortgage loans. In the case of secured loans the value of the security should be more than the amount being sanctioned. Getting loans has become very easy now. One must keep in mind the amount of income he earns before applying for a loan. If it is not possible to return the money the borrower shouldn't apply for a loan.
Mortgage rates keep fluctuating depending upon the value of the property. If the value increases the rate goes high and vice versa. If in case the owner of the property fails to pay back the loan the bank or financial institution can take full possession of the property. When applying for a mortgage loan the entire amount will be given or some part of it will be given and the borrower will have to pay the rest on his own.
It is very essential to keep up with the fluctuation of the mortgage so that one has proper knowledge about the current rates in the market.
Here at Mortgage Rates Canada, we have shared a few tips to help you understand mortgage services better.
Article Source: http://EzineArticles.com/?expert=Alvaro_Buckley
Top 5 Things to Do for Under 500 GBP
Getting your PPI compensation reclaimed can be just what you need to get out of a tough spot. That money can also be spent many other ways, however. Here are the top 5 things to do for under £500:
1. Take a much needed holiday.
Although flying overseas can eat up a lot of money, you might be able to travel to a cheap European destination, include Budapest, Berlin, Istanbul, Sarajevo, and Krakow. You do not need to travel abroad to have a good vacation, either. Try exploring somewhere within your own country for a nice change of pace.
2. Follow your dreams.
For £500, you have the foundations for starting your own business or traveling to a foreign country. Although the amount of money you need to chase your dreams will vary, £500 is a start.
3. Buy Christmas gifts.
If you plan carefully and start buying presents now, you can buy wonderful Christmas presents for your family. Make sure to watch for sales - you might be able to purchase expensive Christmas presents for far less than what they are really worth. For a change of pace, try making your presents by hand. Other gifts include vacations or season passes to favourite activities.
4. Go back to school.
If you just need a little extra money to pay your tuition, think about taking out a payday or cash advance loan. These short-term loans will let you go back to school while avoiding long-term debt. You should not attempt to pay all of your tuition with short-term loans, but if you just need a little extra money, a cash advance loan might be just what you need.
5. Pay your bills.
This option is the least glamorous and most practical way to spend your cash loan. If you are in financial trouble, however, this is the best way to spend your money. A cash advance loan can give you the money you need to pay off your debts. You will need to take care of your financial obligations before you can think about other, more fun options.
Simons Cole is an expert in debt consultancy who is currently researching websites that offer payment protection insurance including many claim advice
Article Source: http://EzineArticles.com/?expert=Simons_Cole
1. Take a much needed holiday.
Although flying overseas can eat up a lot of money, you might be able to travel to a cheap European destination, include Budapest, Berlin, Istanbul, Sarajevo, and Krakow. You do not need to travel abroad to have a good vacation, either. Try exploring somewhere within your own country for a nice change of pace.
2. Follow your dreams.
For £500, you have the foundations for starting your own business or traveling to a foreign country. Although the amount of money you need to chase your dreams will vary, £500 is a start.
3. Buy Christmas gifts.
If you plan carefully and start buying presents now, you can buy wonderful Christmas presents for your family. Make sure to watch for sales - you might be able to purchase expensive Christmas presents for far less than what they are really worth. For a change of pace, try making your presents by hand. Other gifts include vacations or season passes to favourite activities.
4. Go back to school.
If you just need a little extra money to pay your tuition, think about taking out a payday or cash advance loan. These short-term loans will let you go back to school while avoiding long-term debt. You should not attempt to pay all of your tuition with short-term loans, but if you just need a little extra money, a cash advance loan might be just what you need.
5. Pay your bills.
This option is the least glamorous and most practical way to spend your cash loan. If you are in financial trouble, however, this is the best way to spend your money. A cash advance loan can give you the money you need to pay off your debts. You will need to take care of your financial obligations before you can think about other, more fun options.
Simons Cole is an expert in debt consultancy who is currently researching websites that offer payment protection insurance including many claim advice
Article Source: http://EzineArticles.com/?expert=Simons_Cole
Dealing With Debt Collectors - 5 Steps To Protect Yourself
When dealing with debt collectors, the stress and anxiety can make you forget a crucial fact: you have rights. There are a number of state and federal debt collection laws that exist to protect you, including the Fair Debt Collection Practices Act (FDCPA).
So when a creditor calls, don't panic. Instead, here's a simple 5-step process you can follow when dealing with debt collectors.
Step One
When the collection agency calls, ask them to send you a written notice of the debt. It's your legal right under the FDCPA. They then have five business days to send you the notice.
Step Two
Once you receive the debt notice, review it carefully. In particular, you should make sure that:
* You really do owe the debt. If you don't, you can dispute it.
* The amount is correct. Make sure that the creditors haven't added any extra illegal charges. If you believe the amount is incorrect, you can dispute it and/or contact an attorney.
* The debt is not too old. If the debt is too old, you can send the collection agency a cease contact letter. Note that certain debts, such as child support, tax debts, and student loans, aren't covered by this statute of limitations
Step Three
If you believe that you do not owe the debt or that it is too old, you can send the collection agency a cease contact letter. Send the letter through certified mail and keep a copy for your records - good records are important when dealing with debt collectors.
IMPORTANT! If you send a creditor a cease contact letter, the only way they can collect from you is to sue you. It's best to talk to an attorney before sending a cease contact letter, to be sure that you're protected.
Step Four
If you think you do owe the debt, but you can't afford to pay it, you do have options. A bankruptcy attorney can help you find out if your property is protected from collection agencies.
Step Five
If you owe the debt, but you can't pay it in full, try negotiating a settlement. Collection agencies will often accept a smaller lump sum rather than the full amount. Just be sure to get any agreement you come to in writing!
If you follow these five steps when dealing with debt collectors, you should end up in pretty good shape. Remember, the law is there to protect you!
If you're looking for an attorney, but can't afford to pay for one, you have a few options available to you.
* If the creditors acted illegally at any point, you may be able to sue them for damages. If you win, they may have to pay your legal fees. Because of this, some attorneys will take your case on a contingent fee basis - they don't get paid unless you win.
* The Collection Complaint Hotline offers a free and confidential consultation with attorneys who deal with debt collectors.
Dealing with debt collectors can be stressful, but this five step process will help set you on the right path.
Donald Coggan of accessible.org has helped disabled people deal with debt since 1998. Visit his site to learn more about dealing with debt collectors and receiving free legal advice.
Article Source: http://EzineArticles.com/?expert=Donald_Coggan
So when a creditor calls, don't panic. Instead, here's a simple 5-step process you can follow when dealing with debt collectors.
Step One
When the collection agency calls, ask them to send you a written notice of the debt. It's your legal right under the FDCPA. They then have five business days to send you the notice.
Step Two
Once you receive the debt notice, review it carefully. In particular, you should make sure that:
* You really do owe the debt. If you don't, you can dispute it.
* The amount is correct. Make sure that the creditors haven't added any extra illegal charges. If you believe the amount is incorrect, you can dispute it and/or contact an attorney.
* The debt is not too old. If the debt is too old, you can send the collection agency a cease contact letter. Note that certain debts, such as child support, tax debts, and student loans, aren't covered by this statute of limitations
Step Three
If you believe that you do not owe the debt or that it is too old, you can send the collection agency a cease contact letter. Send the letter through certified mail and keep a copy for your records - good records are important when dealing with debt collectors.
IMPORTANT! If you send a creditor a cease contact letter, the only way they can collect from you is to sue you. It's best to talk to an attorney before sending a cease contact letter, to be sure that you're protected.
Step Four
If you think you do owe the debt, but you can't afford to pay it, you do have options. A bankruptcy attorney can help you find out if your property is protected from collection agencies.
Step Five
If you owe the debt, but you can't pay it in full, try negotiating a settlement. Collection agencies will often accept a smaller lump sum rather than the full amount. Just be sure to get any agreement you come to in writing!
If you follow these five steps when dealing with debt collectors, you should end up in pretty good shape. Remember, the law is there to protect you!
If you're looking for an attorney, but can't afford to pay for one, you have a few options available to you.
* If the creditors acted illegally at any point, you may be able to sue them for damages. If you win, they may have to pay your legal fees. Because of this, some attorneys will take your case on a contingent fee basis - they don't get paid unless you win.
* The Collection Complaint Hotline offers a free and confidential consultation with attorneys who deal with debt collectors.
Dealing with debt collectors can be stressful, but this five step process will help set you on the right path.
Donald Coggan of accessible.org has helped disabled people deal with debt since 1998. Visit his site to learn more about dealing with debt collectors and receiving free legal advice.
Article Source: http://EzineArticles.com/?expert=Donald_Coggan
Keeping Away From Grants For Individuals Hoaxes
Looking and applying for grants for individuals was previously a difficult and tiresome course of action. The applications had been lengthy and frequently not easy to receive. Even worse, grants used to be nearly impossible to find. Unless you have been highly familiar with federal government loan programs, most likely, finding a grant applying for a grant meeting your specific needs appeared to be nearly impossible to search out.
Fortunately, that has changed in recent times. Instead of searching for grants in your local authority's buildings and departments, it's easy to search for grants for individuals via the web. Internet sites were developed for the sole purpose of providing valuable data regarding grants that the federal government gives out.
By visiting websites, it's not hard to see how basic it's to get a grant. The days are gone of preparing extensive paperwork and printed documentation, and also mailing the paperwork to the agency awarding the grant. Rather, applying for a grant is now carried out electronically by way of different internet websites, offering folks and companies the opportunity to flawlessly submit a grant application on the web.
Google will be your friend in terms of searching the web with the right keywords. Internet websites ranging from federal government to private corporations and private persons will then be shown to you within seconds. When employing the net for grants for individuals search, a good idea is that you take precaution. You might never be too careful due to the fact there are lots of hoax and scam websites waiting for you to enter their trap. Typically, they will charge you with a ridiculous fee to acquire the desired details you need. You don't have to pay a charge just to obtain data that's already made obtainable for you personally. You need to simply be patient.
To steer clear of such scams, try to look for the site's testimonials page. It is possible to determine if the site is indeed legitimate or not. People who are satisfied using the service are much more than happy to leave their own comments or review about the site.
But if you would like make certain about grants for individuals, it is better to visit your nearby authorities sector like the HUD or the Department of Housing and Urban Development. You can also check the nearby FEMA or the Federal Emergency Management Agency if you're a sufferer of a natural disaster. Other federal departments provide various grants.
Facilities for individual grants are immense, only if you pursue the right direction. Watch out for more information and assistance at Grants For Individuals.
Article Source: http://EzineArticles.com/?expert=Randy_Fortney
Fortunately, that has changed in recent times. Instead of searching for grants in your local authority's buildings and departments, it's easy to search for grants for individuals via the web. Internet sites were developed for the sole purpose of providing valuable data regarding grants that the federal government gives out.
By visiting websites, it's not hard to see how basic it's to get a grant. The days are gone of preparing extensive paperwork and printed documentation, and also mailing the paperwork to the agency awarding the grant. Rather, applying for a grant is now carried out electronically by way of different internet websites, offering folks and companies the opportunity to flawlessly submit a grant application on the web.
Google will be your friend in terms of searching the web with the right keywords. Internet websites ranging from federal government to private corporations and private persons will then be shown to you within seconds. When employing the net for grants for individuals search, a good idea is that you take precaution. You might never be too careful due to the fact there are lots of hoax and scam websites waiting for you to enter their trap. Typically, they will charge you with a ridiculous fee to acquire the desired details you need. You don't have to pay a charge just to obtain data that's already made obtainable for you personally. You need to simply be patient.
To steer clear of such scams, try to look for the site's testimonials page. It is possible to determine if the site is indeed legitimate or not. People who are satisfied using the service are much more than happy to leave their own comments or review about the site.
But if you would like make certain about grants for individuals, it is better to visit your nearby authorities sector like the HUD or the Department of Housing and Urban Development. You can also check the nearby FEMA or the Federal Emergency Management Agency if you're a sufferer of a natural disaster. Other federal departments provide various grants.
Facilities for individual grants are immense, only if you pursue the right direction. Watch out for more information and assistance at Grants For Individuals.
Article Source: http://EzineArticles.com/?expert=Randy_Fortney
Understanding Modest Enterprise Grants For Individuals
The United States government is giving away totally free funds by using federal grants for individuals. Whilst it's true that the federal government does indeed award $400 billion annually by way of its 26 federal entities, the statement of free dollars by way of the federal government doesn't specifically pinpoint the definition of a federal grant. Each day millions in no cost grant funds is given away to people today like everyone else and for a wide number of organization and private needs. It is additionally a fact that not all free of charge governing administration grant income is advertised.
Small business enterprise grants are a fun way to fulfill your goals of becoming a company owner. You'll find billions of dollars offered from the federal government and corporations in organization grants and loans. If you need to consider the grants for individuals accessible, where to start is the CFDA, the Catalog of Federal Domestic Assistance. There are lots of varieties of grants offered by the government and other institutions that include individual grants for personal necessities, starting new business, funding education and much more.
Business enterprise grant budget is $34 billion. The idea behind business enterprise grants for individuals is to promote the launch of little organizations. The government believes smaller organization helps to create jobs and boost nearby economies. Instead of taking out business loans, companies can apply for company grants and receive funding that does not require reimbursement. Businesses located in areas of poor economic standing have a high chance of success with this grant application. When applying for organization grants, new entrepreneurs can expect to be required to submit your business proposal that highlights the organization goals, mission, services and products, target market and more. A very smart organization strategy could be your ticket to successfully landing your organization government grant.
Tiny organization grants for individuals are closer than you believe. Several business enterprise grants will be geared towards minority business enterprise development or rural enterprise opportunity grants. So, excellent luck in your search and we hope you find the grants you need! Examine out your nearby governing administration and see when they are certainly offering little business grants for its residences.
Facilities for individual grants are immense, only if you pursue the right direction. Watch out for more information and assistance at Grants For Individuals.
Article Source: http://EzineArticles.com/?expert=Randy_Fortney
Small business enterprise grants are a fun way to fulfill your goals of becoming a company owner. You'll find billions of dollars offered from the federal government and corporations in organization grants and loans. If you need to consider the grants for individuals accessible, where to start is the CFDA, the Catalog of Federal Domestic Assistance. There are lots of varieties of grants offered by the government and other institutions that include individual grants for personal necessities, starting new business, funding education and much more.
Business enterprise grant budget is $34 billion. The idea behind business enterprise grants for individuals is to promote the launch of little organizations. The government believes smaller organization helps to create jobs and boost nearby economies. Instead of taking out business loans, companies can apply for company grants and receive funding that does not require reimbursement. Businesses located in areas of poor economic standing have a high chance of success with this grant application. When applying for organization grants, new entrepreneurs can expect to be required to submit your business proposal that highlights the organization goals, mission, services and products, target market and more. A very smart organization strategy could be your ticket to successfully landing your organization government grant.
Tiny organization grants for individuals are closer than you believe. Several business enterprise grants will be geared towards minority business enterprise development or rural enterprise opportunity grants. So, excellent luck in your search and we hope you find the grants you need! Examine out your nearby governing administration and see when they are certainly offering little business grants for its residences.
Facilities for individual grants are immense, only if you pursue the right direction. Watch out for more information and assistance at Grants For Individuals.
Article Source: http://EzineArticles.com/?expert=Randy_Fortney
Upfront Payment in Home Loans - Fixed or Negotiable
Upfront payments mean the amount other than the property value of the house. Applying for a home loan and selecting a best home loan deal does not involve knowledge of upfront payments. This is very important as this also comes to a substantial amount.
Loan can be got on a certain percentage of the total amount of the flat. There is no mention anywhere in media regarding the amount payable as upfront payments. This has to be discussed personally with the builder before going in for a home loan. There are various administrative fees, infrastructure costs, facilities and amenities that are offered at a special price and also rise in amount of house for every floor rise. Parking facilities under the stilt also require to be paid for separately sometimes. All these costs and also other administrative costs come to a substantial figure and one has to accept this without questioning as one has taken the decision of selecting a house and best home loan lending institution offer.
It is very important to note that these amounts are negotiable. It is not fixed as there are no rules for these amounts. Even the amount for area per square foot is negotiable. As also the rates for other amenities can be discussed and come to a decision of a comfortable amount. Offers for special categories are also available and one must enquire about such festive offers or professional loan offers at lower interest rates. Special amenities offered at extra costs can also be selected and payment fees negotiable.
Negotiations on upfront payments will reduce your initial payment load. Knowledge regarding home loans is essential in today's world of finances where on one end there is easy availability of home loans and simple procedure for procurement for the same where as at the other end false claims and misleading advertisements lead to sometimes having the purchaser ending up paying more!
Rizwana A. Mundewadi is a freelance Healing Artist and writer. Using her experience in the last decade she has been writing articles related to art, art investment, feng shui, symbolism, prosperity and good luck and has also added to this list her practical experiences with banking, loans and investments. Simplified facts about home loans can be found at http://homeloans-simplifiedfacts.blogspot.com without the technical jargon associated with this topic.
Article Source: http://EzineArticles.com/?expert=Rizwana_Mundewadi
Loan can be got on a certain percentage of the total amount of the flat. There is no mention anywhere in media regarding the amount payable as upfront payments. This has to be discussed personally with the builder before going in for a home loan. There are various administrative fees, infrastructure costs, facilities and amenities that are offered at a special price and also rise in amount of house for every floor rise. Parking facilities under the stilt also require to be paid for separately sometimes. All these costs and also other administrative costs come to a substantial figure and one has to accept this without questioning as one has taken the decision of selecting a house and best home loan lending institution offer.
It is very important to note that these amounts are negotiable. It is not fixed as there are no rules for these amounts. Even the amount for area per square foot is negotiable. As also the rates for other amenities can be discussed and come to a decision of a comfortable amount. Offers for special categories are also available and one must enquire about such festive offers or professional loan offers at lower interest rates. Special amenities offered at extra costs can also be selected and payment fees negotiable.
Negotiations on upfront payments will reduce your initial payment load. Knowledge regarding home loans is essential in today's world of finances where on one end there is easy availability of home loans and simple procedure for procurement for the same where as at the other end false claims and misleading advertisements lead to sometimes having the purchaser ending up paying more!
Rizwana A. Mundewadi is a freelance Healing Artist and writer. Using her experience in the last decade she has been writing articles related to art, art investment, feng shui, symbolism, prosperity and good luck and has also added to this list her practical experiences with banking, loans and investments. Simplified facts about home loans can be found at http://homeloans-simplifiedfacts.blogspot.com without the technical jargon associated with this topic.
Article Source: http://EzineArticles.com/?expert=Rizwana_Mundewadi
Home Loans and the Amount Available As Home Loan
Home loan is a term synonymous with a fulfilment of purchasing a dream home easily and quickly. Though nowadays it has become very easy to apply for a home loan with simple and easy procedures and many competitive financial institutions offering loans one has to consider their own choices and priorities while selection. Loans available for first and second homes are offered by many private lenders as well as government banks and financial institutions at attractive interest rates.
All the discussions prior to the selection of a home cater to the area, facilities and perks offered and the lifestyle amenities that come along with the home. We consider the rate per square foot in that particular area, a reputed builder and select a home. Now comes the tricky part when we go in for the application for a home loan. We come to realise that there are other costs and expenses for the procedures as also administrative fees which have to be borne by the buyer. There is a certain percentage of down payment which includes administrative costs, transfer agreement fees, parking and other facilities, gymnasium one time fees, garden maintenance fees and so on and so forth!
The loan amount calculations and EMI figures available online by different financial lenders is subjective and only for reference purposes and the actual amount only comes forward when one goes to do the final deal. Also every floor rise for apartment is added tot he value of the home and thus a flat on a higher floor is more than a first or ground floor flat. This amount may vary from 15% till even 40% increase in the total amount of the home. As also the home loan calculations and eligibility criteria are also subjective and may very from individual and financial institutions.
So it is important to be aware that easy home loan availability is a boon but one must also be prepared beforehand with a substantial amount and then proceed about going in for a home loan.
Rizwana A. Mundewadi is a freelance Healing Artist and writer. Using her experience in the last decade she has been writing articles related to art, art investment, feng shui, symbolism, prosperity and good luck and has also added to this list her practical experiences with banking, loans and investments. Simplified facts about home loans can be found at http://homeloans-simplifiedfacts.blogspot.com without the technical jargon associated with this topic.
Article Source: http://EzineArticles.com/?expert=Rizwana_Mundewadi
All the discussions prior to the selection of a home cater to the area, facilities and perks offered and the lifestyle amenities that come along with the home. We consider the rate per square foot in that particular area, a reputed builder and select a home. Now comes the tricky part when we go in for the application for a home loan. We come to realise that there are other costs and expenses for the procedures as also administrative fees which have to be borne by the buyer. There is a certain percentage of down payment which includes administrative costs, transfer agreement fees, parking and other facilities, gymnasium one time fees, garden maintenance fees and so on and so forth!
The loan amount calculations and EMI figures available online by different financial lenders is subjective and only for reference purposes and the actual amount only comes forward when one goes to do the final deal. Also every floor rise for apartment is added tot he value of the home and thus a flat on a higher floor is more than a first or ground floor flat. This amount may vary from 15% till even 40% increase in the total amount of the home. As also the home loan calculations and eligibility criteria are also subjective and may very from individual and financial institutions.
So it is important to be aware that easy home loan availability is a boon but one must also be prepared beforehand with a substantial amount and then proceed about going in for a home loan.
Rizwana A. Mundewadi is a freelance Healing Artist and writer. Using her experience in the last decade she has been writing articles related to art, art investment, feng shui, symbolism, prosperity and good luck and has also added to this list her practical experiences with banking, loans and investments. Simplified facts about home loans can be found at http://homeloans-simplifiedfacts.blogspot.com without the technical jargon associated with this topic.
Article Source: http://EzineArticles.com/?expert=Rizwana_Mundewadi
The Confident Millionaire by Kelvin Boston
The journey from financial fear to financial freedom is not an easy one. Many are not quite ready to be millionaires, and this concept has actually been tested. More than once a research group has handed an impoverished individual a large sum of money, and then watched as the individual squandered all of the money. Success isn't something that can simply be handed to someone, it is something that needs to be worked up to, and more than a few people have figured that out.
One of the biggest problems is fear. People tend to have a fear associated with financial success, and for most, this is all that really stands in the way. Luckily if you can identify this fear, you can push it aside and move on onward. That being the case, following the teachings of Kelvin Boston in The Confident Millionaire can really help you to get on the right track ad learn to build wealth with absolute confidence.
Not only will The Confident Millionaire provide you with the financial freedom you've been seeking, it will also give you the confidence you need to take the next step. In other words, you will be well on your way to achieving your dreams - the dreams you've fantasized about for your entire life! That's not to say that it is going to be an easy path of course, but it is to say that you are much more capable than you realize, and that capability can take you from zero to hero in a very short time period.
When you final master your fear of success you will be able to move on to seven steps that will take you from an impoverished or even middle class individual to someone with extreme wealth and a plan. That being said, here are a few of the greatest features in The Confident Millionaire by Kelvin Boston:
* Building wealth through home ownership
* Long-term investment strat3egies
* Seven Steps to financial success
* Credit management
These are four very important items that anyone can master, but without the confidence, they mean nothing. It's true that the average person can make their way to financial independence, but you need the confidence and the knowledge to move along quickly. You will need to make fast decisions, and most importantly, you will need to make sure that this is what you want.
Prepare to learn everything you could possibly need to know about financial independence from one of the leading experts in the industry. Soon enough you will learn that YOU are the only one that stands between you and the type of money you need to make. It's not every day that you're afforded an opportunity of this nature, and it's not every day that you can learn to tear down the obstacles that have been standing in your way. Are you ready to move on with your life? Are you ready to push through and become who you've always wanted to be? We hope so, because it's about to happen.
Please visit The Personal Development Company if you would like to learn more about The Confident Millionaire by Kelvin Boston
Article Source: http://EzineArticles.com/?expert=Ben_Sanderson
One of the biggest problems is fear. People tend to have a fear associated with financial success, and for most, this is all that really stands in the way. Luckily if you can identify this fear, you can push it aside and move on onward. That being the case, following the teachings of Kelvin Boston in The Confident Millionaire can really help you to get on the right track ad learn to build wealth with absolute confidence.
Not only will The Confident Millionaire provide you with the financial freedom you've been seeking, it will also give you the confidence you need to take the next step. In other words, you will be well on your way to achieving your dreams - the dreams you've fantasized about for your entire life! That's not to say that it is going to be an easy path of course, but it is to say that you are much more capable than you realize, and that capability can take you from zero to hero in a very short time period.
When you final master your fear of success you will be able to move on to seven steps that will take you from an impoverished or even middle class individual to someone with extreme wealth and a plan. That being said, here are a few of the greatest features in The Confident Millionaire by Kelvin Boston:
* Building wealth through home ownership
* Long-term investment strat3egies
* Seven Steps to financial success
* Credit management
These are four very important items that anyone can master, but without the confidence, they mean nothing. It's true that the average person can make their way to financial independence, but you need the confidence and the knowledge to move along quickly. You will need to make fast decisions, and most importantly, you will need to make sure that this is what you want.
Prepare to learn everything you could possibly need to know about financial independence from one of the leading experts in the industry. Soon enough you will learn that YOU are the only one that stands between you and the type of money you need to make. It's not every day that you're afforded an opportunity of this nature, and it's not every day that you can learn to tear down the obstacles that have been standing in your way. Are you ready to move on with your life? Are you ready to push through and become who you've always wanted to be? We hope so, because it's about to happen.
Please visit The Personal Development Company if you would like to learn more about The Confident Millionaire by Kelvin Boston
Article Source: http://EzineArticles.com/?expert=Ben_Sanderson
What Are the Loopholes While Taking a Home Loan?
Purchasing a home is one of the dreams of every individual and everyone wants to purchase a home of ownership. Increasing costs of property and inflation has made it difficult to purchase a house of own. Here home loans have come as a good way to purchase our dream home now and enjoy this while the loan is being repaid over the years. Simple terms like best home offers and best interest rates are heard everyday but are not understood by all. There are various loopholes in the offers given by the builders and also the lending financial institutions.
Let us consider the loan amount availability. We give so much thought on selecting a place and area for purchasing a home. Rarely is it thought about that institutions do not offer loan on total amount of the property. Only certain amount is offered as home loan and rest has to be paid as down payment. This also caters to a substantial amount. The lowest interest rate advertisements are flashed everywhere and one can easily get carried away and select a home loan deal which may appear attractive but may make the client may more in the long run. Low interest rates may be publicised and interest rates for later years may be kept flexible thus increasing in substantial repayment amount over the years. Figures and quotes of amounts are only for indicative purposes in advertisements and the real figure comes to much more than mentioned by the advertiser. Property ownership and title deeds are never mentioned and one has to ask personally about the clear title and ownership of the property before going in for a home loan on the house selected. Many times other hidden administrative costs are not mentioned anywhere and all these come up during the final deal for the purchase of the house. Facilities like car parking, registration charges, stamp duty, society formation and other amenities offered are not mentioned with the deed and the borrower has to pay this amount on the purchase and this is also not included in the loan amount.
Hence one has to be very careful before applying for a home loan and selecting a home. Though purchasing a dream home is one of the best aims for every family and also there is easy availability of home loans, but still there are many points which if considered beforehand help to avoid financial stress and inconvenience later on.
Rizwana A. Mundewadi is a freelance Healing Artist and writer. Using her experience in the last decade she has been writing articles related to art, art investment, feng shui, symbolism, prosperity and good luck and has also added to this list her practical experiences with banking, loans and investments. Simplified facts about home loans can be found at http://homeloans-simplifiedfacts.blogspot.com without the technical jargon associated with this topic.
Article Source: http://EzineArticles.com/?expert=Rizwana_Mundewadi
Let us consider the loan amount availability. We give so much thought on selecting a place and area for purchasing a home. Rarely is it thought about that institutions do not offer loan on total amount of the property. Only certain amount is offered as home loan and rest has to be paid as down payment. This also caters to a substantial amount. The lowest interest rate advertisements are flashed everywhere and one can easily get carried away and select a home loan deal which may appear attractive but may make the client may more in the long run. Low interest rates may be publicised and interest rates for later years may be kept flexible thus increasing in substantial repayment amount over the years. Figures and quotes of amounts are only for indicative purposes in advertisements and the real figure comes to much more than mentioned by the advertiser. Property ownership and title deeds are never mentioned and one has to ask personally about the clear title and ownership of the property before going in for a home loan on the house selected. Many times other hidden administrative costs are not mentioned anywhere and all these come up during the final deal for the purchase of the house. Facilities like car parking, registration charges, stamp duty, society formation and other amenities offered are not mentioned with the deed and the borrower has to pay this amount on the purchase and this is also not included in the loan amount.
Hence one has to be very careful before applying for a home loan and selecting a home. Though purchasing a dream home is one of the best aims for every family and also there is easy availability of home loans, but still there are many points which if considered beforehand help to avoid financial stress and inconvenience later on.
Rizwana A. Mundewadi is a freelance Healing Artist and writer. Using her experience in the last decade she has been writing articles related to art, art investment, feng shui, symbolism, prosperity and good luck and has also added to this list her practical experiences with banking, loans and investments. Simplified facts about home loans can be found at http://homeloans-simplifiedfacts.blogspot.com without the technical jargon associated with this topic.
Article Source: http://EzineArticles.com/?expert=Rizwana_Mundewadi
The Automatic Millionaire: A Review
David Bach certainly does deserve a lot of credit for coming up with a title that will surely prove eye-catching to anyone looking to improve their lot in life. Really, who would not want to become The Automatic Millionaire? Of course, there is a huge difference between wanting to become such a person and actually being able to attain such wealth. Can David Bach deliver on such a goal and promise?
Well, he can if you are willing to put a little effort into the mix!
In all seriousness, The Automatic Millionaire can prove to be an excellent program for those willing to achieve the results. This is not a pie in the sky, obtuse concept being promoted. Rather, it is a serious and sincere examination of the steps required to attain great personal wealth. Actually, you could even consider a serious guide to spiritual wealth as well.
As the name of the system implies, the pathway to attaining great wealth lies in automation. If you are able to effectively automate several of the tasks in the overall process of your wealth generation system, you will discover the ability to attain wealth is not elusive. When all the cogs in the proverbial wheel are moving in the manner they should, it will be a lot easier for revenues to flow.
And when revenue is flowing in an automated manner, the amount of wealth generated could prove to be more than most people imagined possible.
Yes, it can actually lead to amassing millions which is the elusive dream of so many entrepreneurs. Then again, it may no longer be elusive thanks to the audio series developed by David Bach. What specifically does the material in the audio series cover? It entails the following:
The steps to the total automation of all you financial ventures are presented. With advanced automation, the potential revenue streams you amass could be significant. That can set the foundation for amassing the millions that some might believe are out of reach.
Through setting the stage for generating revenues 24 hours a day, the ability to earn huge income streams will limited effort is possible. For those hoping to live a comfortable life and one that is free of debt, this would be the perfect means in which to attain such goals. The Automatic Millionaire by David Bach is most definitely a unique work that provides a proper and logical roadmap to such a result.
The Automatic Millionaire by David Bach does not present its material in a random or haphazard manner. The concepts presented on the audio series are logical devised and meticulously presented. This allows the material to be better understood and put into effective action. That means the confusion level associated with understanding the system will be kept effectively down.
All in all, The Automatic Millionaire is a brilliant system and David Bach needs to be commended for the excellent work he has put into the audio series. It truly is that excellent of a series and one all serious entrepreneurs should look towards.
Please visit The Personal Development Company if you would like to learn more about The Automatic Millionaire by David Bach
Article Source: http://EzineArticles.com/?expert=Ben_Sanderson
Well, he can if you are willing to put a little effort into the mix!
In all seriousness, The Automatic Millionaire can prove to be an excellent program for those willing to achieve the results. This is not a pie in the sky, obtuse concept being promoted. Rather, it is a serious and sincere examination of the steps required to attain great personal wealth. Actually, you could even consider a serious guide to spiritual wealth as well.
As the name of the system implies, the pathway to attaining great wealth lies in automation. If you are able to effectively automate several of the tasks in the overall process of your wealth generation system, you will discover the ability to attain wealth is not elusive. When all the cogs in the proverbial wheel are moving in the manner they should, it will be a lot easier for revenues to flow.
And when revenue is flowing in an automated manner, the amount of wealth generated could prove to be more than most people imagined possible.
Yes, it can actually lead to amassing millions which is the elusive dream of so many entrepreneurs. Then again, it may no longer be elusive thanks to the audio series developed by David Bach. What specifically does the material in the audio series cover? It entails the following:
The steps to the total automation of all you financial ventures are presented. With advanced automation, the potential revenue streams you amass could be significant. That can set the foundation for amassing the millions that some might believe are out of reach.
Through setting the stage for generating revenues 24 hours a day, the ability to earn huge income streams will limited effort is possible. For those hoping to live a comfortable life and one that is free of debt, this would be the perfect means in which to attain such goals. The Automatic Millionaire by David Bach is most definitely a unique work that provides a proper and logical roadmap to such a result.
The Automatic Millionaire by David Bach does not present its material in a random or haphazard manner. The concepts presented on the audio series are logical devised and meticulously presented. This allows the material to be better understood and put into effective action. That means the confusion level associated with understanding the system will be kept effectively down.
All in all, The Automatic Millionaire is a brilliant system and David Bach needs to be commended for the excellent work he has put into the audio series. It truly is that excellent of a series and one all serious entrepreneurs should look towards.
Please visit The Personal Development Company if you would like to learn more about The Automatic Millionaire by David Bach
Article Source: http://EzineArticles.com/?expert=Ben_Sanderson
Is Your Advisor Serving Your Needs?
With the lack of growth in the economic system and with several portfolios hurt by the current economic recession. There is a distrust within the monetary institutions and of Wall Street. You will find two concerns we require to ask ourselves when it comes to our finances. Really, should you trade by yourself or employ an advisor.
There are various notable companies that can help you trade yourself. The most known online trading companies are Scottrade, E-trade, and TDAmeritrade.These online trading services provide many tools to enhance individual trading.These online services present services such as technical analysis tools, and current financial news stories. If you need help you can speak with an investment consultant where the consultant can walk you through how to use many of these programs which can help you manage your money.
There is one thing you have to understand about these consultants; they are not advisors. These consultants make a set salary and a bonus with how many customers they consult in the products they sell.If you feel that you cannot find the time to trade on your own; you may want to seek out an advisor. The question remains, how can I find a great advisor? Now, I am not going to give any specific recommendations; but I will give you some advice as to what you should, and should not look for.
Seek out a firm that can service your personal needs. Many large firms are out to service one type of client; for example, the highly affluent. If you're working hard and are in the middle of growing your wealth that may be fine for you; but with many of these large firms their main focus will still be on the ones with the largest and more established assets. These firms may open your account; but that does not mean that they will focus on your investment needs.
There are firms that will only focus their attention on the high net worth clients. If you do not have enough net assets, you might have to deal with a service center instead of your advisor. You may not get the attention you need at these type of firms.There are some advisors that are near retirement, or have worked in the business a long time; these type of advisors may be friendly enough in order to get your account, and your assets; though you might not get a call from your advisor after they gain your account.
Advisor's who are near retirement are not around the office a lot. They may be out golfing, working out in the gym, or just out enjoying themselves. You may be left in the care of their assistant dealing with your accounts rather than your advisor. In this situation you may want to shop around. You're not getting the attention or care you need when it comes to your finances.
Client assets become status symbols around the office. The most client assets they acquire, the increase in status these advisors can yield in the workplace. Managers cater to such advisors. You must remember, it's your money; you should be the one with the power.There are excellent advisors in the world. it may take some research.
However, if you don't have the time to study your own investments; and you need more attention maybe an advisor that has been in the business a few years, or in the middle of their career may be the right fit for you.Look in the finance newspapers for the top advisors, see how they take care of their clients. Seek out books that highlight certain successful advisors. Check out forums; you might find out which firms has the best advisors and services.Remember, it's your finances; you need to make the best choice for you.
Hi, My name is Mike and I have created a few blogs. I have an MBA and work in the finance industry. If you like my articles. Please visit my website at Wall Street Mike
Article Source: http://EzineArticles.com/?expert=WC_Mike
There are various notable companies that can help you trade yourself. The most known online trading companies are Scottrade, E-trade, and TDAmeritrade.These online trading services provide many tools to enhance individual trading.These online services present services such as technical analysis tools, and current financial news stories. If you need help you can speak with an investment consultant where the consultant can walk you through how to use many of these programs which can help you manage your money.
There is one thing you have to understand about these consultants; they are not advisors. These consultants make a set salary and a bonus with how many customers they consult in the products they sell.If you feel that you cannot find the time to trade on your own; you may want to seek out an advisor. The question remains, how can I find a great advisor? Now, I am not going to give any specific recommendations; but I will give you some advice as to what you should, and should not look for.
Seek out a firm that can service your personal needs. Many large firms are out to service one type of client; for example, the highly affluent. If you're working hard and are in the middle of growing your wealth that may be fine for you; but with many of these large firms their main focus will still be on the ones with the largest and more established assets. These firms may open your account; but that does not mean that they will focus on your investment needs.
There are firms that will only focus their attention on the high net worth clients. If you do not have enough net assets, you might have to deal with a service center instead of your advisor. You may not get the attention you need at these type of firms.There are some advisors that are near retirement, or have worked in the business a long time; these type of advisors may be friendly enough in order to get your account, and your assets; though you might not get a call from your advisor after they gain your account.
Advisor's who are near retirement are not around the office a lot. They may be out golfing, working out in the gym, or just out enjoying themselves. You may be left in the care of their assistant dealing with your accounts rather than your advisor. In this situation you may want to shop around. You're not getting the attention or care you need when it comes to your finances.
Client assets become status symbols around the office. The most client assets they acquire, the increase in status these advisors can yield in the workplace. Managers cater to such advisors. You must remember, it's your money; you should be the one with the power.There are excellent advisors in the world. it may take some research.
However, if you don't have the time to study your own investments; and you need more attention maybe an advisor that has been in the business a few years, or in the middle of their career may be the right fit for you.Look in the finance newspapers for the top advisors, see how they take care of their clients. Seek out books that highlight certain successful advisors. Check out forums; you might find out which firms has the best advisors and services.Remember, it's your finances; you need to make the best choice for you.
Hi, My name is Mike and I have created a few blogs. I have an MBA and work in the finance industry. If you like my articles. Please visit my website at Wall Street Mike
Article Source: http://EzineArticles.com/?expert=WC_Mike
Money Philosophy
Money philosophy is very simple as it's like the philosophy behind life. Do we know that we are what we focus upon? When we focus to be men of character, honour and dignity, we imbibe the great traits in us, when we focus to be rich we attract riches into life. Send the messages or set the programming in your subconscious about what we are likely to become and watch how you are getting transformed.
Those who live with moderate wealth are perhaps more inclined toward other sides of life which either create a sense of aloofness toward money or their content feelings about whatever little they have prevent them from money making, but those who are sensitive to the spiritual aspects of life certainly feel that money is essentially not something which can bring all great qualities somehow divine in nature in a person,though greatness of a person can not be judged by his wealth, but here indeed this belief is just a belief when it comes to the quality of philanthropy done by those rich people who feel sensitive to the humanitarian causes and the quality of philanthropy done even by a poor who may be equally concerned about those humanitarian sides and here the rich and poor who are equally sensitive to the same cause have their contributions done irrespective of the quantity of money spent by both.
The true enrichment of human civilization is not due to any one person or a group from the same class rather its due the shared responsibility of millions of people and their combined human traits and sensitivity to the world at large irrespective of their class, color and religion and indeed our beliefs to form a world where we can find a voice of unison from a common source of oneness enriches our societal values and here one's true assets are his good deeds which benefits others and make him rich with relations truthful in nature and his true happiness is his inner tranquility which comes as a gift of god.
I am a webmaster from India having 5+ years of excellent experience in internet marketing, SEO Consultant and SEO Trainer. Free Article Submission | Website: Coloring Pages Coloring pages for kids.
Article Source: http://EzineArticles.com/?expert=Dipti_Prasad_Padhi
Those who live with moderate wealth are perhaps more inclined toward other sides of life which either create a sense of aloofness toward money or their content feelings about whatever little they have prevent them from money making, but those who are sensitive to the spiritual aspects of life certainly feel that money is essentially not something which can bring all great qualities somehow divine in nature in a person,though greatness of a person can not be judged by his wealth, but here indeed this belief is just a belief when it comes to the quality of philanthropy done by those rich people who feel sensitive to the humanitarian causes and the quality of philanthropy done even by a poor who may be equally concerned about those humanitarian sides and here the rich and poor who are equally sensitive to the same cause have their contributions done irrespective of the quantity of money spent by both.
The true enrichment of human civilization is not due to any one person or a group from the same class rather its due the shared responsibility of millions of people and their combined human traits and sensitivity to the world at large irrespective of their class, color and religion and indeed our beliefs to form a world where we can find a voice of unison from a common source of oneness enriches our societal values and here one's true assets are his good deeds which benefits others and make him rich with relations truthful in nature and his true happiness is his inner tranquility which comes as a gift of god.
I am a webmaster from India having 5+ years of excellent experience in internet marketing, SEO Consultant and SEO Trainer. Free Article Submission | Website: Coloring Pages Coloring pages for kids.
Article Source: http://EzineArticles.com/?expert=Dipti_Prasad_Padhi
Busting Financial Myths - A Penny Saved Is A Penny Earned!
Today, many people find themselves trying to save on every penny because of the financial sacred cow that a penny saved means a penny earned. While this can be right in certain occasions, I find this notion fallacious because being cheap can cause people to lose more than the small amount of money saved. To find out why this is the case and seek better solutions, please read on!
When we spend time finding cheap stuff (by focusing only or primarily on price), we lose many hours of productivity which could have been better used to create value for the world. Though many people can live cheaply and save the pennies using such methods, they also forsake the big bucks and comfortable lifestyles awaiting them. This is because to be rich, they must think big. This involves the need to place more emphasis on value than price as value is the only tool that saves you money in the long run, not price.
In addition, the mindset of being frugal causes people to buy things they don't really need only because they are cheap. As a result, they spend more money and receive less value when other factors like satisfaction get considered. Here, they could have been much better off in the aspect of receiving value if they had placed more focus on non-quantifiable factors in their buying decisions.
Moreover, focusing on price can limit our ability to dream, envision, create and find solutions. This is because whenever we try to find cheap solutions, we think less about value which is in fact the quintessential element determining effectiveness. After all, a cheap price is sometimes a shortcut to being cheated.
Given the ramifications of such a fallacious belief, 2 classes of people will emerge. One of them would be the spenders who are wasters of productivity as they buy too much of low quality merchandise. Here, their excessive consumption of goods with little value usually do not bring satisfaction and it is sometimes almost certain that the same amount of money used to buy all these wholesale items can be exchanged for much great value.
The second class bred from this myth would be the savers who are too busy conserving productivity. This is also a waste of productivity because unused productivity will never be regained. Thus, instead of scrimping because you cannot afford something, ask yourself how you can afford what you want. This will help you turn inward and take responsibility when you know solutions do exist.
Furthermore, besides all the shortcomings this fallacy can bring, it also makes people prey to the 'Costco' mentality where they buy things they don't use in bulk. For example, 1 pound of nuts cost $3.50 but 5 pounds cost $10.
To save money, people buy the 5 pounds of nuts but it remains in freezer for months because there is too much to eat. At the end, these nuts are unconsumed and expire. Here, the lost opportunity cost incurred is rather large as the $6.50 could have been used elsewhere to provide more satisfaction.
Hence, in conclusion, after pointing the inherent flaws of this modern financial dogma, I believe readers have gained some wisdom by knowing that they ought to place greater emphasis on value instead of price. This is because value can save you money in the long run but price doesn't.
About The Author:
Ong Xun Xiang invites you to visit http://electricalpowersaver.blogspot.com/ if you want to enjoy big savings in your electricity bills. Cutting unnecessary expenses away from your bills is definitely a good investment as it creates more money available to work for you. Do you believe in offering others free money or in using them for your own good? The decision is in you!
To expand your capacity for electricity usage by up to 35%, visit http://electricalpowersaver.blogspot.com/ today!
Article Source: http://EzineArticles.com/?expert=Ong_Xun_Xiang
When we spend time finding cheap stuff (by focusing only or primarily on price), we lose many hours of productivity which could have been better used to create value for the world. Though many people can live cheaply and save the pennies using such methods, they also forsake the big bucks and comfortable lifestyles awaiting them. This is because to be rich, they must think big. This involves the need to place more emphasis on value than price as value is the only tool that saves you money in the long run, not price.
In addition, the mindset of being frugal causes people to buy things they don't really need only because they are cheap. As a result, they spend more money and receive less value when other factors like satisfaction get considered. Here, they could have been much better off in the aspect of receiving value if they had placed more focus on non-quantifiable factors in their buying decisions.
Moreover, focusing on price can limit our ability to dream, envision, create and find solutions. This is because whenever we try to find cheap solutions, we think less about value which is in fact the quintessential element determining effectiveness. After all, a cheap price is sometimes a shortcut to being cheated.
Given the ramifications of such a fallacious belief, 2 classes of people will emerge. One of them would be the spenders who are wasters of productivity as they buy too much of low quality merchandise. Here, their excessive consumption of goods with little value usually do not bring satisfaction and it is sometimes almost certain that the same amount of money used to buy all these wholesale items can be exchanged for much great value.
The second class bred from this myth would be the savers who are too busy conserving productivity. This is also a waste of productivity because unused productivity will never be regained. Thus, instead of scrimping because you cannot afford something, ask yourself how you can afford what you want. This will help you turn inward and take responsibility when you know solutions do exist.
Furthermore, besides all the shortcomings this fallacy can bring, it also makes people prey to the 'Costco' mentality where they buy things they don't use in bulk. For example, 1 pound of nuts cost $3.50 but 5 pounds cost $10.
To save money, people buy the 5 pounds of nuts but it remains in freezer for months because there is too much to eat. At the end, these nuts are unconsumed and expire. Here, the lost opportunity cost incurred is rather large as the $6.50 could have been used elsewhere to provide more satisfaction.
Hence, in conclusion, after pointing the inherent flaws of this modern financial dogma, I believe readers have gained some wisdom by knowing that they ought to place greater emphasis on value instead of price. This is because value can save you money in the long run but price doesn't.
About The Author:
Ong Xun Xiang invites you to visit http://electricalpowersaver.blogspot.com/ if you want to enjoy big savings in your electricity bills. Cutting unnecessary expenses away from your bills is definitely a good investment as it creates more money available to work for you. Do you believe in offering others free money or in using them for your own good? The decision is in you!
To expand your capacity for electricity usage by up to 35%, visit http://electricalpowersaver.blogspot.com/ today!
Article Source: http://EzineArticles.com/?expert=Ong_Xun_Xiang
Why 401(K) Is The Ultimate Sacred Cow Of Money? Part 1
In 1974, the US Congress passed the Employee Retirement Income Security Act (ERISA), forcing employees to switch from employer-provided defined benefit (DB) pension plans to employer-provided defined contribution (DC) pension plans like 401(k). This put their retirement money in the hands of mutual fund managers and the volatile stock market. From then on, Wall Street gained control of the retirement money of American citizens, ushering in a new age of deceit. Now, let us examine why 401(k) is a financial fairy tale weaved to dupe the financially ignorant.
To start, 401(k) offers very limited opportunity for cash flow to the individual investor because there is no immediate cash flow. In addition, given the penalties in place to punish people for early money withdrawals, most people do not withdraw their money in the plan, thus placing them in the hands of Wall Street firms that leverage this money to reap excessive profits. As a result, the common people miss good investments as their money becomes locked while the rich gets ever richer.
Moreover, there is a heavy dependence on a volatile and ever-changing market for your money to grow in the 401(k) environment. Because of this, there is great uncertainty and fear. As many of you know, these 2 are powerful emotions that trigger mistakes, worry and scarcity. Given the lack of a safety net and insurance for your money, you have a higher chance of losing your money and it is definitely not worthwhile to gamble what you worked for in your whole life with a temperamental market.
Furthermore, investors have no control over how their money is managed. Given this lack of control, it is hard for you to maximize your profits because the person managing your money always thinks of his best interests first. With this, I sincerely believe that it is better that the investor educates himself well and manage his own money to gain more control over his profits.
In addition, 401(k) has exorbitant administration fees excluding expense ratios and 12-b1 fees (for marketing expenses). All these cause the investor to lose a certain amount of his returns on the investment and forces him to reduce projections.
To add on, there is a severe under-utilization of money because taxes are simply deferred to the future where they have to be paid eventually. Because of this, a fixed amount of money is guaranteed to be taken away by the government when you can withdraw your money from 401(k). Given the fact that taxes rise over time, the 401(k) investor really loses out when taxes on his money gets deferred to the future.
Hence, in conclusion, after covering so many flaws of the 401(k), I believe readers have gained a better understanding about why it is a financial lie. Armed with this knowledge, move your money to better investments that promise higher returns instead of letting it get preyed upon by the financial predators around today!
About The Author:
Ong Xun Xiang invites you to visit http://electricalpowersaver.blogspot.com/ if you want to enjoy big savings in your electricity bills. Cutting unnecessary expenses away from your bills is definitely a good investment as it creates more money available to work for you. Do you believe in offering others free money or in using them for your own good? The decision is in you!
To expand your capacity for electricity usage by up to 35%, visit http://electricalpowersaver.blogspot.com/ today!
Article Source: http://EzineArticles.com/?expert=Ong_Xun_Xiang
To start, 401(k) offers very limited opportunity for cash flow to the individual investor because there is no immediate cash flow. In addition, given the penalties in place to punish people for early money withdrawals, most people do not withdraw their money in the plan, thus placing them in the hands of Wall Street firms that leverage this money to reap excessive profits. As a result, the common people miss good investments as their money becomes locked while the rich gets ever richer.
Moreover, there is a heavy dependence on a volatile and ever-changing market for your money to grow in the 401(k) environment. Because of this, there is great uncertainty and fear. As many of you know, these 2 are powerful emotions that trigger mistakes, worry and scarcity. Given the lack of a safety net and insurance for your money, you have a higher chance of losing your money and it is definitely not worthwhile to gamble what you worked for in your whole life with a temperamental market.
Furthermore, investors have no control over how their money is managed. Given this lack of control, it is hard for you to maximize your profits because the person managing your money always thinks of his best interests first. With this, I sincerely believe that it is better that the investor educates himself well and manage his own money to gain more control over his profits.
In addition, 401(k) has exorbitant administration fees excluding expense ratios and 12-b1 fees (for marketing expenses). All these cause the investor to lose a certain amount of his returns on the investment and forces him to reduce projections.
To add on, there is a severe under-utilization of money because taxes are simply deferred to the future where they have to be paid eventually. Because of this, a fixed amount of money is guaranteed to be taken away by the government when you can withdraw your money from 401(k). Given the fact that taxes rise over time, the 401(k) investor really loses out when taxes on his money gets deferred to the future.
Hence, in conclusion, after covering so many flaws of the 401(k), I believe readers have gained a better understanding about why it is a financial lie. Armed with this knowledge, move your money to better investments that promise higher returns instead of letting it get preyed upon by the financial predators around today!
About The Author:
Ong Xun Xiang invites you to visit http://electricalpowersaver.blogspot.com/ if you want to enjoy big savings in your electricity bills. Cutting unnecessary expenses away from your bills is definitely a good investment as it creates more money available to work for you. Do you believe in offering others free money or in using them for your own good? The decision is in you!
To expand your capacity for electricity usage by up to 35%, visit http://electricalpowersaver.blogspot.com/ today!
Article Source: http://EzineArticles.com/?expert=Ong_Xun_Xiang
How To Effectively Sell My Old Gold
Surely, you've heard of ways to gain profits when selling gold products. Gold is one of the most expensive minerals in the world, which can be appraised, bought, and sold even in the online world. Have you ever wondered what factor determines the price of gold?
Jewelry that is made of gold are measured by the karat. Karat is a word used to describe how much gold is present in the jewelry. The more gold the jewelry has in it, the higher the appraisal will be. If you think that selling gold jewelry to ordinary stores would reap a huge profit, then you are wrong.
To effectively sell gold jewelry and accessories, it is best for you to go directly to a jewelry store. The reason is really simple, because they have the proper equipment that can assess the value of your jewelry. There are many people that go around places buying gold jewelry for a cheaper price. These people however, sell the gold that they bought to a jewelry store for even bigger profits.
If you want to get the best deals for your golden accessories, then you should know how the prices are determined. Knowing how much your accessories costs will definitely help you make the right decisions about selling them. You can learn this by visiting a jeweler to appraise your gold for you. This is the safest and most effective way when you plan on selling gold.
After your gold accessories had been properly appraised, all you need to do next is find a good store to sell your gold to. Let them appraise your gold and if their prices are lower than the appraisal that you got then all you have to do is find another store. The trick is to find the store that gives your gold the highest appraisal. This will guarantee that you will have higher profit compared to the regular selling methods that most people use.
If you just can not find a good store in your area to sell your gold to then you can always use the internet to find one. Some jewelry stores have internet websites that can guide you on how to sell your gold properly. Sometimes, they give higher appraisals compared to regular jewelry stores located in your area. Ask your friends and look for people who had sold their gold jewelry in the past for references. They might be able to teach you a trick or two when it comes to selling gold.
Luck has nothing to do with it when you sell your gold online. You need to find a good online store that will give your gold a good appraisal. You should make it a point to check every site thoroughly for the best results. Look for sites that have previous comments and responses, and avoid sites that give off a bad feeling. Remember that you are selling something of importance and value to you, and the last thing on your mind is to give your gold away for free.
Selling old jewelry can benefit you in many different ways. If you are in a situation and need some cash fast, then contact us today, because selling your scrap jewelry can be the best road for you to take.
Article Source: http://EzineArticles.com/?expert=Shane_Hester
Jewelry that is made of gold are measured by the karat. Karat is a word used to describe how much gold is present in the jewelry. The more gold the jewelry has in it, the higher the appraisal will be. If you think that selling gold jewelry to ordinary stores would reap a huge profit, then you are wrong.
To effectively sell gold jewelry and accessories, it is best for you to go directly to a jewelry store. The reason is really simple, because they have the proper equipment that can assess the value of your jewelry. There are many people that go around places buying gold jewelry for a cheaper price. These people however, sell the gold that they bought to a jewelry store for even bigger profits.
If you want to get the best deals for your golden accessories, then you should know how the prices are determined. Knowing how much your accessories costs will definitely help you make the right decisions about selling them. You can learn this by visiting a jeweler to appraise your gold for you. This is the safest and most effective way when you plan on selling gold.
After your gold accessories had been properly appraised, all you need to do next is find a good store to sell your gold to. Let them appraise your gold and if their prices are lower than the appraisal that you got then all you have to do is find another store. The trick is to find the store that gives your gold the highest appraisal. This will guarantee that you will have higher profit compared to the regular selling methods that most people use.
If you just can not find a good store in your area to sell your gold to then you can always use the internet to find one. Some jewelry stores have internet websites that can guide you on how to sell your gold properly. Sometimes, they give higher appraisals compared to regular jewelry stores located in your area. Ask your friends and look for people who had sold their gold jewelry in the past for references. They might be able to teach you a trick or two when it comes to selling gold.
Luck has nothing to do with it when you sell your gold online. You need to find a good online store that will give your gold a good appraisal. You should make it a point to check every site thoroughly for the best results. Look for sites that have previous comments and responses, and avoid sites that give off a bad feeling. Remember that you are selling something of importance and value to you, and the last thing on your mind is to give your gold away for free.
Selling old jewelry can benefit you in many different ways. If you are in a situation and need some cash fast, then contact us today, because selling your scrap jewelry can be the best road for you to take.
Article Source: http://EzineArticles.com/?expert=Shane_Hester
Why 401(K) Is The Ultimate Sacred Cow Of Money - Part 2
After the US Congress passed the Employee Retirement Income Security Act (ERISA) in 1974, the rules of money for people have changed. From then on, retirees could no longer depend on their employers to provide for them even when they are not working. Instead, retirees become forced to enter the stock market via the new defined contribution pension plans like 401(k). Today, many might think of the 401(k) as an ingenious financial creation. To me, it is a cunning lie to dupe the financially ignorant. To know more, please read on!
As many of you know, one big benefit of the 401(k) plan is the fact that it offers you tax advantages where you only pay taxes when you withdraw the money. While it may seem like a benefit to some, I believe this to be a fatal flaw and drawback because employees will most likely become taxed at higher tax brackets upon withdrawal. This is because their income would have increased by the time of withdrawal and this rise in remuneration suggests a higher tax bracket. Now, do you think that leaving your money to become taxed more to be a brilliant move? I suggest you think again if you say yes.
Moreover, 401(k) exposes people to estate taxes if they only accumulate but don't use the money. Here, when the money is passed to heirs, income tax and estate tax will eat the retiree's hard-earned money alive. Now, if you really want your descendants to be financially secure, why not concentrate on building assets and making use of tax advantages? I believe you can definitely do it better than 401(k).
Furthermore, 401(k) allows no exit strategy because the penalty and tax consequences make it hard. As a result, money becomes underutilized and less productive, leading to lower investment yields. In contrast, the government and financial giants of Wall Street benefit from your tributes of taxes, fees and commissions.
In addition, 401(k) is subject to change and regulations by the government because it is held in trust by custodian on your behalf. With this, the investor has little or even no control over the terms and conditions which are the most important aspects of investments. To make things clearer, let me illustrate this with an example below.
For house at $250,000, a 30 year loan of $1,700 per month at 7% interest rate is found while your budget is $1,400 per month. Here, if you develop relationship with the owner, she tells you that she only owns $100,000 with payment at $800 per month and she is willing to work with you on terms via lease/option agreement.
After negotiation, she agrees to $50,000 down payment and lease payment of $1,300 per month for 2 years. With that, you save $400 per month and she gains $500 per month. This example here shows the power of building relationships and controlling terms. However, in the case of 401(k), I believe investors would find it hard to develop a relationship with the government or even have the ability to challenge the government by changing the terms.
Hence, in conclusion, given all these dangers lurking in 401(k), I do not think that it is a potion to greater financial health. Instead, investors ought to educate themselves well financially and seek to create value. This will definitely bring them more wealth than 401(k).
About The Author:
Ong Xun Xiang invites you to visit http://electricalpowersaver.blogspot.com/ if you want to enjoy big savings in your electricity bills. Cutting unnecessary expenses away from your bills is definitely a good investment as it creates more money available to work for you. Do you believe in offering others free money or in using them for your own good? The decision is in you!
To expand your capacity for electricity usage by up to 35%, visit http://electricalpowersaver.blogspot.com/ today!
Article Source: http://EzineArticles.com/?expert=Ong_Xun_Xiang
As many of you know, one big benefit of the 401(k) plan is the fact that it offers you tax advantages where you only pay taxes when you withdraw the money. While it may seem like a benefit to some, I believe this to be a fatal flaw and drawback because employees will most likely become taxed at higher tax brackets upon withdrawal. This is because their income would have increased by the time of withdrawal and this rise in remuneration suggests a higher tax bracket. Now, do you think that leaving your money to become taxed more to be a brilliant move? I suggest you think again if you say yes.
Moreover, 401(k) exposes people to estate taxes if they only accumulate but don't use the money. Here, when the money is passed to heirs, income tax and estate tax will eat the retiree's hard-earned money alive. Now, if you really want your descendants to be financially secure, why not concentrate on building assets and making use of tax advantages? I believe you can definitely do it better than 401(k).
Furthermore, 401(k) allows no exit strategy because the penalty and tax consequences make it hard. As a result, money becomes underutilized and less productive, leading to lower investment yields. In contrast, the government and financial giants of Wall Street benefit from your tributes of taxes, fees and commissions.
In addition, 401(k) is subject to change and regulations by the government because it is held in trust by custodian on your behalf. With this, the investor has little or even no control over the terms and conditions which are the most important aspects of investments. To make things clearer, let me illustrate this with an example below.
For house at $250,000, a 30 year loan of $1,700 per month at 7% interest rate is found while your budget is $1,400 per month. Here, if you develop relationship with the owner, she tells you that she only owns $100,000 with payment at $800 per month and she is willing to work with you on terms via lease/option agreement.
After negotiation, she agrees to $50,000 down payment and lease payment of $1,300 per month for 2 years. With that, you save $400 per month and she gains $500 per month. This example here shows the power of building relationships and controlling terms. However, in the case of 401(k), I believe investors would find it hard to develop a relationship with the government or even have the ability to challenge the government by changing the terms.
Hence, in conclusion, given all these dangers lurking in 401(k), I do not think that it is a potion to greater financial health. Instead, investors ought to educate themselves well financially and seek to create value. This will definitely bring them more wealth than 401(k).
About The Author:
Ong Xun Xiang invites you to visit http://electricalpowersaver.blogspot.com/ if you want to enjoy big savings in your electricity bills. Cutting unnecessary expenses away from your bills is definitely a good investment as it creates more money available to work for you. Do you believe in offering others free money or in using them for your own good? The decision is in you!
To expand your capacity for electricity usage by up to 35%, visit http://electricalpowersaver.blogspot.com/ today!
Article Source: http://EzineArticles.com/?expert=Ong_Xun_Xiang
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