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Monthly Archives: November 2017

Pick Right Financial Advisors

That depends on what you want the financial advisers to do. Do you want help with estate planning, or is it your child’s college fund? What about advice on which stocks to pick or how to withdrawal cash from retirement funds without draining your account? Determining where to start depends on your desired outcome, and the good news is financial advisers come with many specialties.

Once you decide what you need, ask people that you trust for referrals. Seek out someone you don’t mind divulging personal financial information to.

Next, find out what your potential advisor did before becoming an advisor. Was he/she a math expert who majored in statistics at college? Do they have an advanced degree in accounting or business? The answer to these types of questions can tell you a lot about the Ivory Tower experience someone may have, and whether it’s relevant enough for your trust. You want someone with good character, much like you would in choosing a good doctor or lawyer.

How Do Financial Advisers Charge?

Many people are intimidated by costs but have no idea what they are. This is normal, and there are many ways in which an advisor might charge you.

Charging you a commission on products (or stocks) bought and sold is the most typical form of remuneration. Some, however, might charge a flat fee or yearly retainer, or a combination thereof. The best advice: do some comparison-shopping just as you would for a vehicle or any other significant purchase.

State Registered Advisors Must Be Licensed

Those who give advice on how someone should invest their money should be registered with the state in which they practice. For instance, in Washington State, all financial advisors must register with the Washington State Department of Financial Institutions in order to practice. Check with your state to see what the requirements are, and be sure to check for prerequisites pertaining to admission, such as testing and education.

You can also check the state records for complaints: legal judgments, bankruptcies, criminal charges, and government orders. All of this information is kept on file by the state and are available to the public.

Make Sure Have Good Credit Standing

First, you need to know your capacity to pay. If you are about to borrow money, it is important that you will be able to cover what you will borrow. Therefore, having a source of income is essential when you apply for credit. It can start with using credit cards straight from your college days. For sure, such a tool can help you pay your tuition or cover expenses for schooling. When you have a good credit from college, you can proceed with higher loan amounts in the future. This is also the stepping stone in building quality credit. The records that you have in the past will influence your score in the future. Therefore, you need to take care of your credit early on.

Second, you should be able to clear your loans and balances at the right time. Using a credit card is a good example for this practice. You can see that there is a specific date and amount that you have to pay. After you have paid for such an amount, you will have a better credit score. But take note that there should be consistency when it comes to doing this. The calculated balances that you have in the credit card will have an effect to your credit score. So take time to include your payments to the card in your monthly budget. The less credit charges you incur the more score you will accumulate in the long run.

One more thing to do is to keep monitoring your account. You should have consolidation when it comes to loans and debts. Only this way you could have a better credit score from full payments. If you are considering getting a higher loan, you will see that the bank can give you flexible terms. This may happen only if you have good credit score. Of course, there are other factors too like your history of payments and your accounts with other banks. These banks can coordinate with each other in order to identify those who have good credit standing. Therefore, the thing that you have done from one bank may spread to another. If you want a more comfortable life, then you should always aim for a high credit score.

Stop Bad Financial Habits

The Situation: A lot of people, including you, don’t fully understand how important it is to save cash with regard to their future. Figure out how to save first then spend, not the other way around. While this is superior to no savings in any way, it is definitely not the correct way to build an excellent savings plan.

Steps To Managing Your Individual Finances Well.

Listed here are some important tips that you can consider if you wish to reduce costs for the future. These techniques have helped a lot of people be successful at taking better proper care of their finances.

Put 20% Of The Earnings Into Savings

In case you are to be successful in the foreseeable future, carry out the opposite of just what the average person does. As opposed to saving whatever remains, save first and spend afterward. Even if you are expecting a reduced check than normal, be sure to save 20% out from each and every single check that you receive. Make sure to deposit this money once you receive money. You will have learned a vital lesson, and saving the amount of money than enables you to work your way down taking good care of everything, bills first.

Saving money assists you to create a healthy financial habit that will help you to budget your money efficiently for the rest of your way of life. You could possibly feel much less stressed about finances when you know that you have an urgent situation fund available.

Don’t Complicate Matters

It is obvious the iPhone 7 is great. Your buddies and colleagues have purchased it,but the iPhone 6 plus is one that you simply bought a few time ago. While many of these new gadgets are fun and exciting to have, you undoubtedly don’t need a new phone unless your old phone is dying. You must never buy it unless you really want an iPhone 7.

Can that new phone do something that your particular old model can’t do? It is essential to sometimes treat yourself with luxuries, just make sure this really is something great rather than some of those undesirable habits one does repeatedly. Additional money is the best money to pay, not the 20% you will be saving.

Cash Over Credit

Maybe you are from the opinion the charge cards in your wallet should be used, not hidden away. Often we start off with good intentions buying only small things likely to pay them off at the conclusion of every month. $50 here or $25 there can’t hurt, and you can always pay it off following the month. That brand of thinking gets people in trouble quickly, plus they rack up a pile of debt.

Financial Mad Max

There are a number of areas to cover when prepping, and they include the obvious ones like keeping yourself in the best physical shape possible, building a stock of food and water to last at least a month or two, and accumulating items to barter in the event of hyperinflation kicking in or when the networks crash with ATMs unable to dispense any more paper money. Here we look at the need to prep for the monetary mayhem that is already underway. Has everybody already forgotten about the 12-day shutdown of Cypriot banks in March 2013? That when they reopened a 300 euros limit was imposed as a maximum that can be withdrawn? What about the subsequent 40 – 70 percent haircut given to any deposit above 100,000 euros? If you think this can only happen to somebody else you’d better think again – hard. Cyprus style bail-ins are becoming the preferred way to stave off banking failures in future as private property rights become a thing of the past.

It is therefore only prudent to prepare ourselves in this area before a Mad Max world descends on us in full force. Hopefully it doesn’t ever come to that, but if it does, at least in this one area we have prepped to the max and we have a cache of real money to use and barter with ease. If Mad Max doesn’t grace us with his presence – fantastic, and the gold we have saved can become a valuable heirloom for the next generation and our loved ones. But at the present trajectory, history suggests it is a matter of when rather than if before the social fabric is torn asunder due to financial meltdowns. The song of angry men is being sung louder each day haven’t you noticed? Austerity for the masses and freebies to the rich, and a Les Miserables reprise is in the cards.

So what is spendable gold? I do not wish to harp about gold being real money, because I believe by now most of us have seen enough QE to the nth-degree and the sad erosion of paper currencies for ourselves. Spendable gold has become a rising European trend in recent years, with well-known producers such as Credit Suisse, PAMP, UBS and even the Perth Mint of Australia issuing them. This is gold in small sizes such as 1-gram, 2.5-grams and 5-grams. The small sizes make the bars affordable to most people who are seeking shelter from the monetary storm, while also making the gold easier to spend as well. Just imagine trying to buy a few loaves of bread with an ounce of gold (which at the time of this writing is US$1,230/oz.) and you get the picture. Sure, they might be happy to throw in a pound of salami free of charge but good luck asking for the change. These won’t be normal times after all, and it would hardly be a surprise if people acted less than civil.

I for one hope the market rigging will continue, and they can kick that darn can down the road indefinitely. Manipulation is better than Mad Max any day in my book, and the longer the farce lasts means the more time I have to prepare. However, Germany’s top financial regulator BAFIN has just spoken out against the manipulation of precious metals and currencies in the market, calling it a bigger scandal than the rigging of LIBOR. Hence, we can see the knowledge of gold manipulation has moved from the realm of conspiracy theories into the mainstream. The writing on the wall speaks volumes. Dr. Paul Craig Roberts, a former Assistant Secretary to the Treasury during the Reagan years made a telling comment on the subject: “We conclude that ability to manipulate the gold price is disappearing as physical gold moves from New York and London to Asia, leaving the West with paper claims to gold that greatly exceed the available supply.”