Tuesday, February 27, 2018

Financial Freedom: 3 Options for Finally Getting out of Debt



Many people carry high debt balances. After all, it is easy to rack up huge outstanding balances on credit cards, and you may also have other types of loans that require regular payments. 

While you may have been able to manage making timely minimum payments for a while, this may have gotten increasingly more challenging in recent months. 

You understandably want to eliminate financial stress from your life, and reducing debt balances is necessary to achieve this goal. These are some top ways to deal with a serious debt situation.


Consider a Drastic Reduction in Your Lifestyle


Your current debt situation may be the culmination of many long years of accruing debt. In many cases, debt develops when you make purchases that you otherwise could not afford to make. 




For example, you may have charged the purchase of a big screen TV to your credit card several years ago, and you may have never paid that balance off. If you want to achieve financial freedom, you need to make large regular payments on your accounts with outstanding balances. 

Drastically scaling back your lifestyle is necessary if you want to free up more cash to use for debt repayment. For example, you can move into a more affordable home, trade in your expensive car for a budget-minded car and make other similar efforts. The alternative is to get a second job and to use this extra income for debt reduction.


Take out a Debt Consolidation Loan


There are two primary types of debt, and these are revolving term and fixed term debts. 

A revolving term debt, such as a credit card, can take a very long time to pay off when you only make the minimum monthly payment. 

A fixed term debt will be entirely paid off at the end of the term. Consolidating all outstanding debts into a lower interest rate loan with a fixed term is a smart idea in many situations. 

This could reduce your monthly debt payments and establish a firm debt elimination schedule. You can use this strategy with the previous strategy for even more substantial results.

Seek More Substantial Debt Relief


These ideas work well for some people, but others are so swamped with debt that they cannot get their heads above water. Substantial debt relief may be available through debt negotiations or settlements. 


You may even consider filing for bankruptcy through a service like McElrath Law. While these are more drastic steps, they can provide the relief that you need when other options are not feasible. 

It’s better to get professional help in a bleak situation than to try to continue navigating it on your own.

Debt is a problem that often will not go away on its own. If you want to eliminate debt, you need to have a focused plan. 


You also need to follow that plan regularly. Spend time analyzing your situation to determine how these strategies may be applicable to your situation.


Monday, February 26, 2018

Planning for Retirement? 5 Tips to Help You Retire in Comfort



The time to start planning for retirement is now. The only people who are exempt are those who have 25 times their annual expenses saved, as they would already be ready to retire based upon their current savings as long as they do not inflate their lifestyles. Those who do not fall into this category should plan ahead. Here are five tips to help you get started if you’re in that boat.

Start Now


If you want to have a good and comfortable retirement, living the lifestyle you want to live, then you need to start planning for retirement sooner rather than later. There’s an old Chinese proverb that says that the best time to plant a tree is ten years ago and that the second best time is today. 


If you’ve not yet started by getting a financial checkup with a group like Trajan Wealth or another financial planning firm, the time is now. It’s a good idea to just see where you stand in regard to your overall financial health.

Plan for Taxes


There are quite a few ways that those who hope to retire can cut their tax bill. Using a tax-deferred retirement account is one way to cut your tax bill in the present and ensure more of your dollars actually go toward your financial goals. 




If you expect to have a higher income in retirement, a Roth account might be a better option to cut down on your tax bill in the future.

Take Social Security into Account


Some people have fear that Social Security will not be around much longer. This is not likely. It is, however, likely that there will have to be benefit cuts in the future if other adjustments are not made. 


Figuring out when the best time to take benefits for your particular situation is imperative to make sure that you’re able to retire as comfortably as possible. With all of this said, you do not want to rely on solely collecting social security in your retirement.

Consider Insurance and Annuities


Some whole life insurance policies can provide income in retirement. They are essentially long-term savings accounts that allow the insurance company to make investments on their policyholders’ behalf. 


Over time, this can add up to a nice sum that can be drawn upon during retirement. Annuities provide annual income for those who purchase them. A wealth management expert can help you navigate which of these options will work best.
Stay Invested

The longer your money stays invested, the longer it has time to compound. Compound interest has been called the eighth wonder of the world, and it can really add up. Even relatively small investments can grow to large sums over time, but the investments have to stay invested for the long haul. 


You also want to make sure that you have a few different investments as well. Keep in mind that investments can be very risky, but they should be calculated risks. If you have made a few smart investments, you will likely be better off than just making one big investment.

Starting retirement planning is imperative. It is never too early to start planning for retirement. The longer you wait, the harder it will be to have the money you need to retire in comfort and for the lifestyle you want to have. 


Those who follow these recommendations are more likely to enjoy a great retirement. While you might not be able to hit all of these mileposts, hitting some of them will be better than none. They can help you retire more comfortably.


Sunday, February 25, 2018

Fixing Mistakes: 4 Tips for Recovering Financially from a DUI



A driving under the influence (DUI) charge is a serious offense that could wreak havoc on your financial situation. The conventional wisdom is that when all is said and done, a DUI can end up costing you $10,000. While financial penalties will be unavoidable if you’re found guilty, there are a few ways you can at least reduce the damage.

Go to Classes


While DUI punishments vary from state to state, one thing all states have in common is that there are classes available for DUI offenders. 


The court may sentence you to complete a certain number of classes, but whether it does or doesn’t, you should take classes regardless, as they could help you get a better deal on your insurance.

Shop around for Insurance


There’s no way around it—insurance gets very expensive when you’ve gotten a DUI. But it’s still worthwhile to shop around and see what kind of rates you can get from different carriers. 




Keep in mind that you may need to get barebones insurance coverage, at least for the time being, if money is tight. Another option would be going carless and sticking to public transportation.

Work with a DUI Attorney


You definitely don’t want a public defender representing you for a DUI. A DUI attorney like Steve W. Sumner, Attorney At Law or someone similar can make a significant difference in the result of your case. 


If the arresting officer did something wrong, there’s the possibility that your attorney helps you get the charges dismissed. Otherwise, they can at least work out a favorable plea deal for you.


Steer Clear of Any Future Mistakes


You can’t erase your DUI, but you can at least avoid compounding the issue. Follow the terms of your sentencing to the letter, because violating them in any way will make your situation much worse. 


Keep your nose clean and stay out of potentially risky situations that could result in an arrest. Most importantly, don’t drive if you’ve even had a sip of alcohol, as even a low blood alcohol content (BAC) could now get you into trouble. Dui penalties get far stricter when you’re a repeat offender. 

Dealing with the aftermath of a DUI is stressful, but if you handle it correctly, you’ll get back on your feet much quicker. Follow the tips above to fulfill the terms of your sentencing, get insured again, and stay on the straight and narrow.


6 Suggestions When Choosing a Law Firm to Work For



Some law students are happy to be snatched up by any firm at all. If you have multiple offers, however, or if you're just picky about where you want to spend the next few years, it's worth the effort of carefully considering which firm is right for you. Here are just a few tips for making that decision.


1. Compare and Contrast Benefits


Salaries are always a big selling point when law firms are trying to recruit, but they aren't usually the only things on the table. Don't be afraid to ask if there are additional perks that come with the position. 


You might be able to secure yourself a really good deal, especially if the firm is keenly interested in you.

2. Evaluate Their Reputation


Some firms are known for being vicious, cutthroat places. Others are more moderate or more obscure. A good way to gauge the reputation of a firm is to check out their online reviews. 





Places like Tully Ricnkey Law have lots of feedback from former employees, and they can tell you what it's really like to work in that building. This applies to other law firms besides Tully Rinckey, too.


3. Look At Their Practice Areas


If you have a specialization, you'll want to work for a law firm that allows you to grow your skills in that particular field. For example, if you're aiming for a career in personal injury law, try to find a firm that's settled million-dollar car accident lawsuits. 
They're the firm that will have something to teach you about your practice area.

4. Figure Out Their Hierarchy


Some law firms promote and compensate their workers based on their seniority. This is called a "lockstep" hierarchy. Other firms will promote based on things like billable hours and number of referrals. 


There's no right or wrong answer when it comes to which type of firm is more appealing to you; just be aware of the difference when you're considering all of your options.


5. Ask About Advancement Opportunities


Becoming a partner is the dream, of course, but there are other ways that law firms can help your career while you're working your way up to the big leagues. 


For example, they might allow you to network with important people in the field through annual conferences and events, or they might give you the chance to assist on big cases with other high-performing associates.


6. Don't Forget the Practicalities


It's easy to get so wrapped up in the big questions of employment that you forget about the little details of choosing a new job. What will the commute look like? If you'll have to relocate, what's the average rent in the firm's home city? 


Are you getting a good impression from the person who will be your immediate supervisor? Think about these things before you actually sign on the dotted line.

These are just a few things to keep in mind as you consider different venues to start your legal career. 


The experiences that you have at your first job can really shape the rest of your life as a lawyer, so don't rush your decision! Take your time, look at your options and choose a firm where you know that you'll go far.


Saturday, February 24, 2018

How You Can Transfer Your Home Loan With A Top Up Loan?



When you are unhappy with the customer service of your existing lender or if they are charging you a higher Home Loan interest rate, you can always switch your loan account.

When you switch your current Home Loan account from an existing lender to a new one, the process is called Home Loan balance transfer. A Home Loan balance transfer helps you bring down your Home Loan interest rate and makes it affordable to let you save some money each month.

When you do Home Loan balance transfer, usually the new lender also provides with the facility of a Top Up Loan at a lower rate to assist you in taking care of other financial needs.

Leading online lenders provide a Top Up Loan facility of up to Rs.50 lakh at reduced rates. Yes, the interest and tenor part associated with a Top Up Loan is lesser and longer, respectively. 





Thus, if you want to reduce your Home Loan interest rates and also want to avail a lesser rate of interest, opting for balance transfer should be a good bet. Here’s how!

● Affordable rate of interest

Compared to standard loan, the Top Up Loan that you get with a Home Loan balance transfer is only 8-12%, making it an affordable version of a personal loan. It also means that you pay lesser EMI figure each month.

● You can use it for multiple purposes

A Top Up Loan could be used just like a personal loan which you can use for numerous purposes as per your preferences. Be it renovating your home, emergency medical needs, an abroad trip or more, you can use it for as many purposes as you can think.

● Easy eligibility

Top Up Loans don’t have many issues when it comes to the eligibility. Why? It’s simply because a Top Up Loan is an additional facility with a Home Loan balance transfer and that makes it a no-eligibility loan.

● Flexible tenor

The tenor is nothing but the total duration of any loan in which you need to repay the credit as EMIs. Depending on your loan scheme, the tenor can go up or down. However, when you avail Home Loan balance transfer, the tenor of your Top Up Loan is also the same as that of the Home Loan. What does it mean? It means that you have enough time to repay your Top Up Loan. It is one of the most vital benefits of the Top Up Loan and why borrowers prefer it while availing Home Loan balance transfer.

● Non-fussy and quick application procedure

Although a Home Loan requires you to care for various terms and conditions, the Top Up Loan does not. You can easily eliminate these consuming and exhaustive exercises while opting for a Top Up Loan. Why? It’s because a Top Up Loan is a linked feature of Home Loan balance transfer, you don’t have to care about the application procedure. All that you need to do is – request your new creditor the Top Up Loan facility, quote the loan amount and, you are good to go!


The Bottom Line


A Home Loan balance transfer is a unique facility which also helps you avail a non-messy and feature-rich Top Up Loan. If you are looking out for an additional loan to cover up your various needs to fulfil your life goals? Opt for a Home Loan balance transfer and apply for a Top Up Loan to the tune of Rs.50 lakh with a leading online Home Loan service provider.

When you will do a Home Loan balance transfer, you also stand to gain good customer care services and not to forget the reduced Home Loan interest rates. Contact your new lender today and know more!



Friday, February 23, 2018

5 Tips for Wisely Managing Your Loans



These are tough economic times, and a lot of people are having to rely on credit cards and bank loans from establishments like MainSource Bank in order to keep up with their bills. If you have found yourself in this situation with multiple loans to pay every month, then try following these five tips to help you keep up with your payments and pay off those debts as quickly as possible.

Keep a Calendar of All Required Payments


When you have a lot of different loan payments to make every month, the first thing you need to do is create a calendar which lays out all of your due dates and minimum payment amounts per loan. By keeping track of your upcoming payments, you won’t be caught off guard at any time.

Money management is just basic math—addition and subtraction. The numbers shouldn’t ever surprise you. There’s no excuse for bouncing checks, missing due dates and getting stuck with late fees. All of that can be prevented by organizing your calendar and doing the math.


Schedule Automatic Payments


Once you have your payment calendar all set up, the next thing you should do is schedule automatic payments for each of your loans.

The only reason you might be scared by this step is that you are spending more money than you make every month. If that is the case, then you still need to schedule those automatic payments. But you also need to see where all your money is going so that you can cut back on unnecessary expenses and prioritize these bill payments. 







Now that your bill payments are all pre-scheduled, and you are keeping a positive cash flow to cover those payments, you’ll never have to deal with another late fee or feel stressed about when payments are due. It’s already figured out and set up to run on autopilot.

Synchronize Due Dates with Pay Periods


If your bill payment due dates are spread throughout the month in a way that makes it difficult to track or in a way that makes it difficult to pay promptly, you can try calling your creditors and setting up custom payment due dates. This is especially helpful if your bill payments are all loaded heavily at the beginning of the month and require more than one paycheck in order cover them.

So what you want to do is put half of your due dates at the beginning of the month to be paid by one paycheck, and then you schedule the other bills a couple of weeks later to be covered by the next paycheck.


Negotiate Lower Interest Rates


If you haven’t already, you should try contacting each of your creditors to see if there is any way they can lower your interest rate to help you keep up with your payments. Many creditors are actually happy to do this because they lose a lot of money when their customers fall behind and they have to charge off those accounts to debt collection companies.

If you own your home and have a lot of credit card bills or other bank loans, you might be able to combine these into a single, large consolidation loan or mortgage payment. By reducing the number of payments that you need to make every month, this might make it a little easier for you to stay organized and to avoid missing any payment due dates.

All it takes is a phone call and a cheerful attitude. You never know, and you just might get lucky. So give it a try and see what they say.


Pay Down Faster with Snowball Technique


The snowball technique is a proven method for paying off multiple debts as quickly as possible. The way it works is that you figure out all of your bill payments, then you make only minimum payments to each of them—except for the one that has either the highest interest-rate or the lowest minimum payment. This one becomes your priority.

So you will choose one of your loans, and make it your priority to pay off that loan as quickly as possible while maintaining minimum payments on all the other loans.

Once that priority loan is paid off in full, you then take the payment that you were making there and add it to the minimum payment on the next bill on your list. By progressing in this way your bill payments snowball, and the bills get paid off faster and faster.

It can be very frustrating when you have a lot of bills to pay off and are trying to get out of debt. But many people have done it before, and you will do it too. You just have to get organized, prioritize your bill payments and reduce your unnecessary spending as much as possible. By following these tips your bills will get paid off in no time.


Wednesday, February 21, 2018

Financial Terms Jargon Buster



In a study carried out by the Organisation for Economic Cooperation and Development (OECD), it was found that just 38% of adults know what ‘inflation’ means. True Potential Investor’s jargon buster has been created to help improve our knowledge of important financial terms. Take a look to find out more:


Bonds


When companies want to raise funds to meet a business goal, they may offer corporate bonds. To do this, some choose to issue bonds that investors can then buy. The money raised from the investment is held for an agreed number of years. 


At the end — also known as bond maturity — the investor receives the money they invested plus their guaranteed interest which was agreed at the start.

Government bonds or gilts are also available. They work in a similar way to corporate bonds and are used to fund borrowing.


Capital


Capital refers to the funds that you invest initially.


Capital gains tax


For any profit you make on specific types of investment, you could pay tax on it — known as capital gains tax. You may not need to pay capital gains tax — it depends on the amount of profit you make and whether you use the profit to buy new shares. More information can be found on the GOV.UK website.


Diversification


If you diversify your investment, you invest across multiple areas rather than just one. For example, you can diversify your investment across a range of investment types — such as shares or bonds, for example — as well as between industries, currencies and countries. 






Through diversification, you can manage risk and protect your investments against the impact of market uncertainty.

FTSE


FTSE stands for the Financial Times Stock Exchange. It monitors how companies and indices are performing during trading on the London Stock Exchange. A number of lists are available, with each showing the fluctuations in share prices over time.



Inflation


Inflation describes how a price for goods or services had increased over time. It is measured as an annual percentage change and can impact interest rates and share prices.

ISA


ISAs — or Individual Savings Accounts — are a tax-efficient savings method.

Cash ISAs and stocks and shares ISAs are two popular ISA types: 

  • Cash ISAs — similar to a typical savings account, cash ISAs do not require you to pay tax on any interest that is generated. 
  • Stocks & shares ISAs — with a stocks and shares ISA, the money is invested with the aim of growing the fund over time. You do not pay tax on dividends. 
  • Pensions 

Through a pension, you can put money aside for your retirement. The money you place in the pension fund is invested with the aim of growing it by the time you retire.

Pension types include:

  • Personal pensions — a pension you arrange yourself, which you can contribute to whenever you want. 
  • Workplace pensions — this type of pension is arranged through your employer. Usually, you’ll contribute an amount each month, with your employer also contributing and the government contributing tax relief too. 
  • State pensions — a state pension is the amount you receive from the government once you reach State Pension age. Details on how much this is and eligibility can be found at the GOV.UK website


Stocks & shares


Stocks allow investors to purchase a share in a company. However, these stocks can be broken down into a number of shares, which can also be purchased by investors. Because of this similarity, the two terms are often interchangeable.

Investors purchase stocks and shares with the aim to sell them for more than what they paid. Usually, stock and shareholders receive a proportion of the company’s profits on an annual or bi-annual basis in the form of dividends.


Yield


Yield describes the performance of an investment at present and in the future. For example, if you received £5 in interest from £100 placed in a Cash ISA, your total yield would be 5% which is equal to £5.

Financial services group True Potential LLP, of which True Potential Investor is a part of, has partnered with the Open University to improve financial knowledge in the UK. As well as establishing the True Potential Centre for the Public Understanding of Finance (PUFin), a number of free financial courses are available remotely.

200,000 people have already benefited from these courses. For information on how you can enrol, visit the True Potential Investor website.


Tuesday, February 20, 2018

How to Get Bad Credit Guaranteed Car Finance With No Credit?



Many times, it has been seen that people struggle with their current credit history. They find that auto loans especially the car loans are near to impossible to obtain. Are you looking for a car loan irrespective of the new or used car but dread applying for a car loan? If yes, then you have come to the right place. 

Here, you are going to collect the information regarding the bad credit guaranteed car finance. It means that there is a possibility that you can get car loan even with the bad credit. There is no issue at all for applying an auto loan while having bad credit.

Easy to process


All you need to do is to visit online and find lenders, which offer many exclusive deals related to the auto loan along with poor credit history. You can get your loan approved within just a few minutes. 


It states that the process is very simple and fast, even eliminates the demand of more paper work. For auto loan for bad credit guaranteed approval, you can compare non-binding proposals free of cost with the advice from car loan experts so that you can find and make sure that the lender is appropriate to fit your needs of the credit and financial situations. 




With the best and reliable lender, people will also get a chance to rebuild the credit rating from the very first day of the application and help to make your finances come back on track. 


Due to an easy process application procedure, it provides you with an option to save a lot of time and money. By going online, you can secure guaranteed car finance with bad credit. No matter whether you want a new or second-hand car, you will get it in just 48 hours or even less time sometimes.

What do they offer?


When you are going to avail the services of the car loan providers regardless of the good or bad credit, make sure to attain complete information about their services. The range of services may vary from provider to provider. Hence, it is better to be careful about what they offer. Some features of these lenders offering guaranteed auto loan approval online with poor credit history are:

  • You will benefit from the flexible and cheaper car payment plans on a monthly basis. 
  • You can explore a wide range of in-house options for bad credit auto financing. 
  • They will offer you a chance to work directly with loan dealers. It means that there is no intermediaries between you and the lender. 
  • They secure assured car loan bad credit approval when you visit online. 
  • There are no pre-penalties clause, which is appropriate for a premature car loan payoff. 


Requirements to be met


There are some requirements you should meet while applying for a car loan when you are having bad credit like you must have a legal driver’s license, be ready with your down payment if you want to give, and much more. For more information, talk to a representative right now!



Monday, February 19, 2018

What Happens if You Do Not Renew or Withdraw your FD?



When investing, it is imperative that you know how your finances will benefit or suffer under all possible scenarios. So, take a look at what happens if you don’t renew or withdraw your fixed deposit at maturity.

Fixed deposits (FDs) are popular investment options amongst Indians, and for good reason too. They are safe, independent of market fluctuations, and offer guaranteed returns. You stand to enjoy several benefits with no threat to your investment corpus. But, what happens to your fixed deposit once it reaches maturity, and you don’t renew or withdraw it? Read on to find out.



If you Don’t Renew your Fixed Deposit


  • While several financial institutions give you the option of selecting auto-renewal on maturity, not everyone chooses this. 
  • In case you fall into this category, here’s how this will affect your fixed deposit. If you didn’t opt for auto-renewal but opted for the sum to be transferred to a savings account at the time of application, that’s exactly what will happen. 
  • Once it is credited to the savings account, you can choose to either hold on to the money or reinvest it. You can create another fixed deposit, or choose another investment option altogether. 
  • It is possible that you haven’t specified the account to which you’d like the amount to be transferred and haven’t selected auto-renewal as well. In such a case, your financial institution will send you a notification. 
  • This is to inform you of the fact that your fixed deposit has matured and to ask you what you would like to do next. But, note that some banks skip this step and mail a demand draft of the amount to your registered address. 
  • According to the guidelines set by Reserve Bank of India, you will be tracked by the financial institution within 14 days after your FD matures and you choose to renew it. The interest will be calculated from the date of maturity instead of the date of renewal. 
  • If the financial institution delays in informing you and exceeds the 14-day window, they will be liable to pay for the delay. 




If you Don’t Withdraw your Fixed Deposit

  • If you don’t withdraw the FD at maturity, the financial institution may automatically renew your FD for as many time as required. 
  • But, if the FD isn’t withdrawn for more than two or three consecutive tenors, the institution will get in touch with the applicant. If the applicant is not responsive, the amount will be handed over to the applicant's nominee. 
  • Not claiming your FD at maturity may seem convenient, as the financial institution will auto-renew it. But, do bear in mind that the interest accrued will be at a savings account interest rate. 
  • If your deposit is unclaimed or overdue for a period of more than 10 years, the financial institution labels your fixed deposit as an inoperative account. Then, it transfers the sum to the bank’s Depositor Education and Awareness Fund Scheme. 

So, it is evident that ignoring your FD—or any other investment, for that matter—is far from advisable. To ensure that you make the most of your investments, it is wise to watch them closely. Some financial institutions even offer the facility to do this online. One such fixed-deposit service provider is Bajaj Finserv. Their FDs offer a high rate of interest, along with convenient online fund management.



Sunday, February 18, 2018

4 Financial Plans You Need to Have down When Starting a Family



The decision to start a family is a big one, and whether the decision is a deliberate, well thought out one or a sudden one, there are some plans you should get into place. Families can be expensive, and planning ahead can help ease the burden. But, there’s no use in worrying, only in doing, so grab some of your favorite candy (with this cost cutting See's candy coupon, of course) and relax a little bit. 

It’s not as scary as it might seem. You just need some insider info and some diligence, and you can take control of your personal finances and save for the future. Here are some tips to help you reign in your finances. Here are four financial plans you should have in place when starting a family.


Maternity and Paternity Leave


You need to look at your state’s laws and company policy regarding leave for having a baby. Do you get time off? How much time? Is it paid or unpaid? Can you use vacation, sick time, or short-term disability to supplement the time off or the possibly lost income? 


This information is important to help you figure out your budget not only for the weeks after the baby’s arrival, but for the whole first year.

Start or Add to Your Emergency Fund


An emergency fund with no less than three to six months’ worth of expenses in it is critical to ensuring that your family can stay on financial track. If you don’t already have an emergency fund, now’s the time to start it. 




If you do have one, but don’t have enough, add to it now. Even if you already have three to six months in it, consider adding more. Babies can be expensive, and it’s better to be over-prepared than under.

Meet with a Bankruptcy Lawyer


After the baby arrives, you’ll have new expenses: child care, baby clothes, baby food, and more. You may want life insurance on your baby, or to increase your own. You may also want to look into disability insurance, start or add to your retirement fund, or start an education fund for your new addition. 


If you’re already in debt though, these plans can seem unreachable. Meeting with a bankruptcy lawyer can accomplish a couple of things. One, they can help you file for bankruptcy if that’s the right option for you. 

Second, depending on the types and amount of debt, they may be able to help you come up with a plan to pay off your debt without filing for bankruptcy that still puts you in a better financial position.

Write or Adjust Your Will


Once you have a child, everything changes. You’ll want to make sure that your child is cared for after your death, particularly if it happens sooner and more unexpectedly than you’d like. 


Making sure that your will is up to date to reflect your wishes regarding your child’s guardian(s), as well as how you want your estate distributed, will make things much easier on those left behind.

Starting a family is a beautiful time for most couples. A few easy financial tweaks can ensure that it remains a beautiful time, rather than becoming a stressful, worrying time.


Saturday, February 17, 2018

Stocks or Not? 3 Major Methods of Investment and How They Work



If you’ve read much financial advice, you’ve probably heard at some point that the key to prosperity is making your money work for you. One of the most common ways to do this is to invest your money, but this isn’t as simple as it sounds, because there are many methods of investment out there. Here are three of the most common and how they work.

Stocks


The stock market is what usually comes to mind when people think of investing. With this investment method, you’re buying one or more shares of a company. If the company’s value increases and its stock price goes up, then you’ll make money, and vice versa. 





Although the stock market’s overall value tends to go up over time, plenty of companies fail, meaning it’s important not to risk too much on unestablished companies. 

Another way to invest in stocks is to choose an index fund that encompasses a variety of companies. This makes it easier to build a diverse portfolio and reduce your risk of losing all your money from one company tanking.

Real Estate


Real estate investing is another popular investing method, and there are multiple ways to make money from your real estate. The simplest is to purchase real estate and wait for the value to increase. 

You’ll then have a more valuable asset then you originally purchased, and with a mortgage, you can get the leverage to buy real estate worth much more than you have saved up. 

You could also purchase real estate, and then rent that property out. Not only will you own the property, but you’ll be making money from it.

Commodities


Commodities cover a wide range of raw materials. These include gas, oil, agricultural products and precious metals, such as gold, silver, and platinum. Precious metals are popular because it can be purchased easily online from businesses like Rocky Mountain Coin in different forms. 

Although commodities are often volatile, they offer a way to diversify your portfolio, and there’s the potential for high returns if you purchase a commodity that comes into high demand. 

That volatility can work against you, though, and it’s important not to let any major swings in your commodity’s value scare you and force you into rash decisions.

Investing may be the wisest financial decisions you make. No matter which of the options above you select, make sure the bulk of your portfolio is in lower risk investments that should deliver a steady return on your money.


DIY Metal Buildings: 5 Things You Should Avoid In the Construction Phase




Using a steel building kit for your construction project in Denver has many advantages. Aside from allowing you to set up your frame easily and quickly, it also enables you to meet project timelines earlier. Whether you already know a lot about putting up steel buildings or have just started bidding on related projects, the key is to ensure that whatever is erected stays there for a long time. 

As with any construction job, there is a right and wrong way to do things, even with pre-fabricated building systems. Fortunately, you do not have to be a construction expert to get the work done. 


With the help of easy-to-follow and detailed plans and diagrams, a manual, and some friends, you can take the DIY approach to finally getting that carport, hobby shed, garage, or barn erected. 

Of course, then the project becomes more complex, you will need the support of an experienced and licensed contractor to ensure that everything is in order and all quality and safety guidelines are met.

But let's focus on the small projects for now. Here are 5 things you should avoid doing when working on DIY metal buildings.


1. You forgot to secure the proper permits


Building ordinances differ in every city so be sure to check first if there are Colorado permits that need to be secured or paperwork complied. Better if you find out there's nothing you need to do early on than to have your project halted midway because you're violating a local law. 


Some building quotes also offer assistance for securing permits, so check with your service provider about this, as well.

2. You ignored safety procedures


Metal building kits come with a manual. Follow the book and never just "wing it," no matter how much of a carpentry expert you think you are. Or you can have it prebuilt at the place where it was purchased so it arrives ready to be set up. 




As a DIYer, you probably do not have enough professional safety training. Take some time to read resources online about job site safety tips. These include clearing the jobsite of any debris that might obstruct workflow or pose a threat, applying fall prevention procedures, and readng the instructions that came with the kit.


3. You did not prepare the soil or pour a foundation


You can't just erect structures anywhere and the ground has to be tested and prepared prior to construction. At the least, make sure that the surface is level and any debris or large rocks are removed. If you are building a large structure, the soil needs to be tested and amended. Much bigger projects require for foundation to be poured.


4. You tampered with the pre-built model


Metal building kits are already pre-measured and cut before they are delivered to your job site. That means all you need to do is to assemble them. Resist the urge to shorten or cut any part, particularly the primary elements, if you notice that the structure is not level. Instead, refer back to the kit's manual and find out if there's a step you might have missed during the preparation process. You can also call the manufacturer to help you identify where the error might have been. Tampering with the parts exposes you to risks for accidents and injuries.


5. You didn't install the fasteners correctly


Going back to the importance of following what's on the manual exactly, the correct setup of fasteners is crucial to the completion of the entire system. It's really a simple process, if you think about it, but a lot of things can go wrong with a mere mis-fastened bolt. Make sure that you use the correct drives and tools to complete the assembly and tath every unit is installed tightly.

When setting up Great Western Buildings of Denver, Colorado, the most basic advice is to follow the erection manual. If you have any questions, call the service provider immediately to clarify. The company will be your best resource to making sure that structures are built flawlessly.



Friday, February 16, 2018

Getting Older? 4 Financial Plans You Need to Have in Place




A part of getting older is planning for your retirement. You need to have financial goals to help you get where you want to go. Here are some financial plans that you need to have in place.


Set a Realistic Budget


A budget will allow you to live within your means. You need to take a hard look at where your money is going. Determine if there are any areas that need some work. If you are living paycheck to paycheck, you need to reevaluate your lifestyle choices. 


Retirement will be difficult if you don’t have a nest egg set aside. Figure out how much money you’ll need to have in order to live comfortably. Have a little extra left over in your budget. Set this money aside for any unexpected expenses.

Work Towards Debt Elimination


Debt can be crippling if you don’t have a steady income. You would have more wiggle room in your budget if you didn’t have to pay off your debt. The best way to eliminate debt is to pay more than the minimum each month. 




Consider how much money you are losing just paying the interest. This money could be better spent somewhere else if you were able to eliminate your debt load. Look at creative ways that you can pay off this debt.

Keep Health Insurance in Mind


Many people have health insurance through their employers. Once you retire, this will be an added strain on your budget. Schedule an appointment to talk to a lawyer about medicaid planning


They can help you through this process so that you can still have health coverage. As you get older, medical treatment becomes more necessary. Not having insurance can leave you saddled with major medical bills. 

This can quickly eat up any money that you have set aside.

Invest in Retirement


There is still time to start saving for the future. Take advantage if your employer offers a 401k. You have other means of starting a retirement account. Traditional IRA and Roth IRAs are also available. 


These will allow you to put money away for your future. As you get closer to retirement age, you can put more money into these accounts. This will offer you a preview of what it will be like to live on more limited means. Then you can adjust your lifestyle as needed.

You need to create a financial plan in order to prepare for retirement. You may need some assistance in developing your plan. Use the tools that are at your disposal.


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