4 Reasons to Start Out Small
Novice investors are often intimidated by the idea of investing their money, whether they choose stocks, bonds, or real estate. If you want to start investing but you’re afraid of the risk, you can definitely benefit from starting out small. In fact, it’s better to begin with a small amount of money, and not just for your peace of mind.
You Won’t Lose as Much Money
Money
Image via Flickr by Casey Serin
If you decide to start out by investing a small amount of capital, you aren’t going to lose more than you can safely afford. In fact, you have a better opportunity to put a cap on the amount you initially invest. Lots of newbies have actually made their fortunes with a start-up investment of just a thousand dollars. That sounds like a lot to anyone who doesn’t have much money, but that’s the thing. If you’ve decided to start investing but know you want to start small, there’s absolutely no rush. Start saving now and you won’t lose anything.
You’ll Learn the Ins and Outs
Starting out small has another very important benefit: knowledge. No novice goes into investing knowing everything. In fact, the attitude that you know everything there to know is detrimental and dangerous. By starting small, spending just what you’re comfortable potentially losing, you’re more invested in your investment, so to speak. You want to learn about where your money is going and why it’s growing. That’s what makes you become an expert. You’ll learn about gains and losses, predictions and estimations, and that knowledge pays off later. In time, you’ll feel more confident and you’ll take risks that pay off more.
You Grow with Your Investment Manager
No matter how much money you have to invest, you need an investment manager. Look at any Fisher Investment Forbes advice or articles and you’ll see how important it is to have someone knowledgeable in your corner. Your financial wizard will help you grow—and he or she will help your investments grow as well. A good investment manager is willing to teach you so that you can then make decisions on your own. You’ll feel more comfortable making your own investment choices, but you’ll have someone to walk you through discussions about risks and steer you away from bad decisions.
You’ll Earn More Money
By starting out small, you’ll ultimately earn more money. How does that work? Solely because you are still invested in your money, where it goes, and what it does. You won’t get cocky or arrogant, you’ll understand the difference between good and bad risks, and you’ll always remember that first investment. Your choices will naturally be smarter, you’ll think over every new investment, and you’ll make sure you’re knowledgeable about every possible stock or bond. It’s better in the long run because it pays off more in the end.
Taking time to save up capital and think hard about your investments is simply better for you. Do you prefer to take huge risks or think things over before making a new investment?
The Benefits of Keyman Insurance
If you look around your company or think of the key people that work for you, there are some that you simply cannot do without. Several will have expertise or experience like no one else. Others will have the contacts or reputation that make them so successful.
Keyman Insurance
However, what would happen if these key individuals were to become critically ill or even pass away. Their loss would not only be felt on a personal level but it could also have a catastrophic impact on your business as its opportunity to succeed.
It may seem callous or morbid to think of such a thing, but when your own family’s well being and the families of all your employees is at risk, it is vital to be prepared for the worst.
That is why Friendly Finance Keyman Insurance is so important to businesses of all sizes.
Keyman Insurance is a vital policy which provides the financial support required for your business to overcome the loss of any key individual and continue to support those that are left behind.
- Making the Most of a Keyperson Insurance Policy:
With the lump sum provided from a key man insurance policy, it is possible to maintain the financial consistency required to overcome the loss of a key individual and provide lasting stability for the future.
The money provided from such a policy can be used to purchase shares or ownership rights from the deceased’s family to ensure the consistent management of the organisation through times of change. Alternatively, such a capital injection can provide compensation against loss of income or a reduction in production due to the loss. This will ensure the company can see its way through even when times get tough.
Funds will also be required to adjust the structure of the organisation to compensate for these developments. This could include retraining existing staff to take on new roles or, could involve recruiting new staff to ensure the company is able to continue.
While the company many not be able to afford such an increase in costs, especially at such a difficult time, the benefits from keyperson insurance can ensure there is no delay.
The proceeds from this type of insurance cover can also provide any new employees with the breathing space to get up to speed before the demands for success set in. Though the person will still be missed, key person insurance can ensure that the company is able to continue.
When times are tough, taking on another regular financial commitment may seem challenging. But if you were to lose one of your key workers in such an economic climate, would your company be able to fund their replacement?
No one wants to think about loosing key personnel to illness or death. However, it is essential that these hard decisions are taken to protect the company and all those that depend on it.
Simply by taking out a Keyman Insurance Policy to cover the major contributors to your organisation, you can ensure that your company has the facilities in place to support its continued success and face the challenges that lay ahead.
Helpful resources: http://en.wikipedia.org/wiki/Key_person_insurance
Top Five Tips for a Safe & Secure Online Business
As a fledgling retail business, starting up can be the most difficult part. No matter what you’re aiming to sell, if you’re planning to utilise a website, there’s plenty that needs to be considered, with website security being at the forefront of your mind. Once you have the nuts and bolts ready to go, there are some things that can help you to provide a secure and safe online business, to protect your customers and yourself. The Internet plays a massive part in day-to-day life nowadays, it makes sense to protect your corner of the market and there are various ways of doing so:
- Buy SSL certificate – SSL encryption is one of the handiest features you could adopt for your website, particularly if you are going to be handling sensitive data, such as addresses, credit card numbers and login details, at any point. Whether you add a SSL certificate to your website to show your customers they can trust you, or you add one to the web-based HR system you are planning to use, it will help keep the hackers at bay and the details safe.
- Encrypt Emails – Protect your emails to avoid them being read by unintended recipients with an encryption protocol such as S/MIME, a public key certificate similar to SSL that ensures sensitive data sent in email form is secure.
- Antivirus Protection – This is essential on your personal workspace as well as if you have a small team of employees who could unintentionally upload a virus to your business network from their phone or tablet.
- Protect your Intellectual Property – Ensure your intangible assets are protected (e.g. homemade crafts, designs and musical work) using copyrights, trademarks or patents.
- Backup Files – Avoid the despair experienced if you lose your work, invoices, orders and accounts – back them up often.
If you have all this in order sooner rather than later, you can concentrate on the fun part – making your site inviting and watching the sales roll in.
Job Fear – Career Management Tips for Graduates
Talking about picking yourself up and looking for a job at the time when you graduate is the dilemma of all the students. In the last semesters and years of their educational life, it is important that the students start to look for jobs and not wait until their graduation is done with. In this sense, many aspects can be seen into. Alumni from the same institute can be contacted who are working successfully in renowned companies and businesses, and also while doing study projects, networking done at that time with the officials of different businesses and companies can help now.
career
It is always a concerning issue that the fresh graduates look for good jobs as they all have to fight the survival of the fittest war to have a good financial life ahead. Still, every one, a high achiever or not, has the job fear and how one will fit into the practical world of the money making race. That is why the topic of career management is overlooked and without any guidelines, the students start to look for jobs they do not know they will fair in or not.
When somehow they get the jobs, it is predictable that they do not know how to keep the jobs and without career management tools, one cannot do so as well. Therefore, here are some career management tips for all the fresh grads and the people who are looking for good jobs to settle in and work hard:
1) Falling asleep is Not the Option: While you settle in a job and know that the company will need you being the hard working employee, do not fall asleep. Companies cut done on employees starting from those who are much laid back and you will never see it coming until you are intentionally planning for it.
2) Ask for Help: This is the concern these days. You do not know something and you would not ask for help from your team leads or senior mentors. This will only help you in learning. Independent working is a myth. It is sometimes good to rely on the other employees for help especially when they are willing to help and that when you can learn from them. There is a huge majority of takers as well but you can actually get help from the people who are trained and can give you time. Else, you will be limited by knowledge and information.
3) Narrowing the Focus: You can be the jack of all but master of none. This is something to be concerned about. You can be blinded by so many things that you may lose your focus on the task at hand. This way, you will lose the commitment to work as well. Following the orders of supervisors and also working with your full capacity on the tasks that really need to be done is what you should work for.
4) Know How to Manage Your Career: There are so many career management programs and the career oriented tools in your company. You can avail them and also make sure that you keep an eye on the jumps you can take in your career the hard way (through performing well and making sure that you are rewarded for your job).
Study hard and it will pay off as the routine in your study life will harness your energy into hard working in the working environment.
Filing Taxes after bankruptcy
Have you filed for bankruptcy recently? If you have recently filed for bankruptcy, then it is very important to file your taxes. There is no escape from it. You can always consult a professional tax attorney to review your information. Bankruptcy is considered as a red flag for the IRS and it will prominently increase your chances of getting audited.
It is also important to know that if you had your debts discharged or canceled as a part of your bankruptcy, it is treated as an income by the IRS. Talk to your bankruptcy attorney or your tax preparer and they will assist you in filing your tax forms.
If you are an independent contractor and receive 1099’s from companies that you have worked for, then you must check to see if a creditor canceled that debt and it is showing as an income on your form 1040.
If the reason of your filing for bankruptcy is because you have a lot of tax debts from the previous years, then you need to align your bankruptcy attorney or the tax preparer in the most accurately manner. They will require all the necessary facts and will have discussions with the IRS to see if your previous tax debts can be discharged or not. Most likely, you will still end up owing those back taxes even after bankruptcy because the IRS always wants to get their money back. It is important that you know all facts about taxes and bankruptcy. It can be a very complicated situation to deal with that’s why professional help is always recommended.
So how to file your past tax return? It is a very simple process much like filing the current return. Just make sure that you gather all the important documents like old W2’s, you old receipts, etc. You can also get the forms online from the IRS website and fill up everything, and then file it online. You will have to answer a few questions when you are doing it online, but there’s nothing to sweat. It might take a little longer, but as long as you have all the documents available, there shouldn’t be any problems. If you are a little hesitant in filing it on your own, then you can consult a reputable company who will assist and make sure that you don’t miss a single line or owed dollar.
Some important links:
http://www.consumer.ftc.gov/articles/0224-filing-bankruptcy-what-know
http://www.bis.gov.uk/insolvency/personal-insolvency/bankruptcy-what-is-bankruptcy
https://www.gov.uk/bankruptcy/overview
https://www.itsa.gov.au/debtors/bankruptcy/bankruptcy-overview
Why It Is Important to Have Comprehensive and Collision Coverage
Car insurance is mandatory in many states of America and optional in some others where a car insurance policy can be substituted by uninsured or underinsured motorist coverage that can also be added to a regular auto insurance policy as additional clauses. By adding this protection to a regular policy, the premiums to pay may increase dramatically.
In states where law does not enforce car insurance to drive a car, the uninsured and underinsured motorist coverage is taking out alone to cut the cost of premiums, but many people have found a different workaround by removing comprehensive and collision coverage from their insurance policies to pay cheaper premiums.
What Is Comprehensive and Collision Coverage
Many people are scared to think of adding extra coverage to their car insurance when someone mention comprehensive and collision coverage, but this protection comes included with any standard car insurance policy. Comprehensive coverage refers to the protection that your car receive for damage that does not result from collision, natural disasters, or civil disturbance, besides minor issues such as broken windshield or resulting from hitting accidentally an animal on your way. On the other hand, collision coverage applies when your car hits any object on the road, or two vehicles collide.
Importance of Having Comprehensive and Collision Coverage
You have seen on TV those commercials that exaggerate suggesting that you could be parked and suddenly a gorilla will fall from the sky. Yes, if this event happens, or a kid playing soccer breaks your car’s window, comprehensive and collision coverage will benefit you. A gorilla may no come out from the sky, but there are many other events that may happen, particularly in cities with complex traffic, or rural areas with road hazards. So it is important to keep both of these options in your insurance policy, or request their addition if they are not included.
When Comprehensive and Collision Coverage Might Not Be Worth The Cost
When it comes to protection, nothing can be considered too much regardless the context you apply the protection. In car insurance, there are many considerations to take into account to get as much coverage as you can. However, when premiums are you main concern, comprehensive and collision coverage could be removed from your policy, but only if you are absolutely sure of what you are doing and you answer these questions:
Is your car too old to be worth the premiums you pay against the cost of the repair if collision happens?
Do you rarely drive your car away of the safe environment of your neighborhood? o Is your car parked in the garage most of the time throughout the year?
Because there are very few chances to answer affirmatively to at least one of the above questions, you can understand why having comprehensive and collision coverage is important. Moreover, even if you answer “yes” to one of these questions, nobody can guarantee you that a gorilla will land over your car sometime in the future, so do not push your luck.
guardNOW security guard company entrepreneur gadget tips
Some people live chasing the life dream of being their own “boss.” Unfortunately not everyone knows the correct qualifications for starting your own business, company or pursing an invention. A big factor in being a successful entrepreneur is to launch your company when it is ready; rushing into the startup of your company will run it to shreds and you will end up losing more money than you used to launch it. When worrying about your finances a bankruptcy on your record will exclude you from prevailing more in life. Some people strive to be a CEO under 30 but when it is not done correctly you can be outed of your entrepreneurial duties before you reach 30.
Some gadgets that 2013 requires you to have as an entrepreneur:
- Android / Iphone for Apps
- Webcam
- Sales Force
- Ipad + Square – to complete sales wherever you are
Here at guardNOW our Owner/ CEO Zabi Kator prefers apps over anything to get him through his everyday needs as an entrepreneur. As much as he uses apps the idea of developing our own app for closing deals in security guard jobs has been put into work. Some of Zabi’s favorite apps are Harvard Business Review, Drop box, G Task, Evernote, Motivational quotes, and Skype.
In the age of time now, getting digitized on current technology will expand your business more. People like to feel “hip” and update on everything, the more you make your company accessible via all these technology aspects the more your business will grow. Have you ever gone into a restaurant or a clothing store and they don’t accept or support something you want to use? Completely discourages you from using that company again. You don’t want to halt your business with small discrepancies, another technology angle about business today are places like YELP. Unfortunately you can make one out of every hundred customers mad but those 3 out of 300 people can write a bad review on you and it can turn people away without every coming in.
Putting money towards technology within your business will benefit you a great deal. With security guards technology in the company may not seem very important, but to many peoples surprise people do not want an old out to date company to keep control of their event. Gadgets are 2013’s goal to up sell whatever you’re selling in your company, and help bring other people up to speed on today’s technology.
Visit http://www.guardnow.com/ to learn more about the company.
5 effective ways to stay out of debts
The most common reason for anyone getting buried into debts is because they do not try to live within their means. Few of them get into debts due to other unfortunate reasons like loss of job or property, huge medical bills or other unexpected financial crisis. Whatever may be the reason, it is important to know effective ways to get out of debts as quickly as possible.
get out of debt
Everyone should keep a track of all their assets and liabilities, along with their income and expenses. In order to stay in control, you should cut off some unnecessary expenses. For instance, if you are in the risk of loosing your home, there is no point in buying other fancy things like a flat screen TV or a recreational vehicle. It is important to concentrate in saving your home from getting repossessed by your bank. Many people are sensible enough to identify their expenses that is very important in their everyday life.
If you are in overwhelming debt situation, selling off your assets will be a good option to pay off your debts. Sell off those assets that is not giving you any cash flow. It will be a wise decision to sell off those assets and use that money to pay off your existing debts. This will immediately reduce the amount of cash outflow from one’s account. When the liabilities and cash outflow goes down, their will be an increase in income and it will be sufficient enough to cover the living expenses and other monthly installments and also to pay off your debts.
You can consolidate multiple debts into one single monthly payment plan. A debt consolidation company can talk with your creditors and explain them about your present financial situation. They can negotiate with your creditors to reduce your current APR and combine everything into one monthly payment plan as per your budget. When all the debts are consolidated into one payment, it reduces the risk of missing any payments when you have multiple creditors to deal with.
If the APR on your home loan is high enough, you can look for a home loan modification program. The counselor will talk with your bank and make your home loan repayment plan a little easier by reducing the current interest rate.
It is very important to save a portion of your income every month so that you are prepared for any unexpected emergencies, like job loss, death in the family, health issues etc. even if you may not have to go through such tough situation, saving is still recommended because that is your money that can be used by you at later times.
These are some of the few effective ways to get out of debts. You can use all these methods to lead a debt free life and enjoy with your family.
Helpful Article: http://www.cbo.gov/publication/21625
How to Go to College Without Student Loans
student-loan
A college education is so important that many parents start saving money from their children’s date of birth having their future in mind. However, very few parents save enough money to pay higher education and many others forget the early enthusiasm that moved them to save money. This could be your own story, and now that you have grow up and are close to completing your high school education, the reality is that your parents have not enough money to pay for college and the only workaround to pay your professional formation seems to be student loans. However, there are several tips to keep in mind before taking out a student loan.
- Help Your Parents Save Money Yourself
Many students believe that their parents have to pay for college education no matter what, and they do very little or nothing to materialize their dreams to enroll in a certain university or college of their choice. They know that either way their family will takes parent loan or a student loan, the education will be paid. However, if you know that your parents are short of money and you can contribute with their budget, talk to them and let them know that you prefer they save the money they would pay for your latest video game towards your education. You can also take a part-time job or summer job and put into a college piggy bank the money you earn to achieve your goals.
- Good Students Are Often Rewarded
Problem with most teenagers is that they believe that high school is a place to be a rebel, go insane and make tons of friends, the last opportunity to run wild before becoming a serious man or woman at college. Wrong perception! If you spend your time in high school in petty activities, you are going to have fun, but very little opportunities to be rewarded as a good student, or definitely none. Many colleges are glad to finance the education of high school students that have proven to be a valuable asset for their schools, granting them total or partially paid scholarship. The better student you become the more financial benefits you can obtain.
- Postpone Your Independence Day
Becoming an adult is probably the most awaited moment that any teenager has in mind. Moving out of your parents’ home becomes a golden dream and you cannot wait to start making your own decisions and live in a place that is far from being the conventional and organized place that your mother asks you to keep clean. However, if you gain the courage to ignore the comments about still living under your parents’ roof while attending college, you will find that staying there can help to save money that you can use to pay your education rather that taking out a student loan.
There are many other ideas and tips to same money or earn money to finance your higher education without having to acquire debt. Use your talents to find those ideas, including asking other family members to contribute with donations to get money for your college education.
How to Add a Contingent Beneficiary to Your Life Insurance Policy
Life Insurance
One of the main reasons that lead people to take out life insurance is to provide a beneficiary with the proceeds of the policy when the named insured passes away. However, many times, there is more than just one beneficiary and here is where confusion takes place. If you are considering buying life insurance, or if you have already a life insurance policy, this reading can help you to clarify what is contingent beneficiary and how to add this beneficiary to your life insurance policy.
- Understanding the Different Types of Beneficiaries
Know there are not as many type of beneficiaries to make more confusing this topic, but there are certainly two types of beneficiaries: primary and contingent. The primary beneficiary is entitled to receive the proceeds at the death of the insured person and this beneficiary can be a specific person or a group of people that is properly called a class designation.
A contingent beneficiary, or secondary beneficiary, is entitled to the proceed of the insured individual only if the primary beneficiary passes away before the insured person, and it is possible add more that a contingent beneficiary to a life insurance policy to make sure there will always be a beneficiary that is going to receive the proceeds.
- Why a Contingent Beneficiary is Often Necessary
The primary beneficiary could be anyone, but often the closer is the relationship between the insured person and the beneficiary, the more important that is adding a contingent beneficiary or beneficiaries to a policy. In example, if you are too young and single you might be entitling your parents to receive your proceeds, but eventually you can marry and add your spouse as contingent beneficiary, and then your children as tertiary beneficiaries or vice versa.
- Who Will Receive My Proceeds?
Either in wills or in life insurance, the primary beneficiary is who receives all the proceeds or assets that the person who have died has left. A contingent beneficiary will not receive anything unless the primary beneficiary dies before the insured person, and yet subsequent beneficiaries will not receive anything either unless both the primary and contingent beneficiaries pass away before him or her. Attorneys and life insurers may help you to find a workaround to make possible all the beneficiaries receive a part of the assets or a proceeds share, but this situation needs to be discussed directly with them to leave everything according your wishes.
- Adding a Contingent Beneficiary to Your Policy
You can add a contingent beneficiary at the moment to take out your life insurance, or at a later time. Insurance companies will let you know about the importance to review and update periodically your life insurance policy, moment at which you can request the addition of the contingent beneficiary. Updating your beneficiary designations can happen as often as you need to make changes, but keep in mind that in some states is only allowed name your family and relatives as beneficiaries, and that naming children will require that you appoint a tutor or guardian until they reach adulthood.
Helpful Articles:
http://www.benefits.va.gov/insurance/
http://en.wikipedia.org/wiki/Life_insurance
Preparing your own Taxes
It is a fact that millions of taxpayers in USA are losing millions of dollars to the government because of erroneously prepared tax returns. This is mainly because of the ignorance on their part, or because of the ignorance or negligence of the professionals they have paid to prepare their tax return.
Tax
This incidence of ignorance has increased to such a magnitude that the IRS is forced to take action. From 2013, anyone who prepares tax returns for a fee, unless he is an attorney, CPA or enrolled agency, they have to be certified by the IRS. They will have to pass an IRS competency examination and a background check, before the certificate is issued to them.
Preparing your own income taxes is not at all that difficult as your tax professional might want you to think it like. There are many advanced tax preparation softwares available that has made preparing taxes so easy. You do not need any knowledge of tax laws to understand the process. This holds particularly true with the Turbo Tax Home and Business Tax preparation software, which has now gotten much better in the recent times. As it is not that expensive, it is virtually just as easy and effective to use this tax software as it will be used by a professional tax preparer.
There are many benefits of preparing taxes on your own. You do not need to disclose your sensitive personal information to any other person. It will reduce the risk of your personal information being compromised. Your never know how much your personal information is safe after leaving from the doorstep of your tax preparer. The IRS has found a huge increase in taxpayer identity theft in the last couple of years. That’s why they are always advising to consult with honest tax accountants with whom your personal information is safe and secure.
You can actually save a lot of money when you prepare your taxes on your own. Hiring an accountant can be quite costly and tax preparation fees can range from $300 and upwards for an average tax return with a Schedule A. When you file taxes on your own, you will have full control over it. You can take as much time to prepare your own taxes and do your own research to ensure optimum results.
It will also motivate you to look at your own finances and as you immerse yourself in the process, you gain more knowledge about tax matters and money management issues.
More information:
http://www.irs.gov/
http://en.wikipedia.org/wiki/Tax_law
