Saturday, August 11, 2018

Make Freedom from Debt a Primary Goal

debt freedom
Make freedom from debt a priority, even if you do not yet see how you are going to accomplish it. Each time you are faced with a decision, evaluate whether the outcome is going to further your goal of paying off your debt and living debt-free. If not, you must decide whether the rewards are worth the amount you will pay in interest by not paying your debt off early. Suppose taking a particular job will give you valuable work experience that will add to your resume and further your career, but the starting salary is so low that you will have to reduce your payments and pay off your debt over a longer period of time. Is the benefit worth the cost? How about spending your tax refund on a two-week tropical vacation?

Are the stress relief and the time spent bonding with your family or friends worth the sacrifices you might have to make later? Could you shorten the vacation or stay closer to home, and put half of that money toward paying off the loan? What if your company matches your 401(k) contribution up to 3 percent of your salary?

Are you going to gain more from claiming the matching funds and earning a 4 percent return on the savings you sock away, or from using that money to quickly pay off a private student loan with a 12 percent interest rate? Some trade-offs, particularly those that promise long-term benefits like retirement savings or career advancement, may be worth making, and there may be times when, for personal reasons, you choose instant gratification over paying off your loans earlier. At least you are making a conscious choice and weighing the consequences of your actions. When you are aware that you are making a choice, you are less likely to act irresponsibly or in a way that drives you further into debt.

Know Your Financial Realities

The first step to your future financial security is having a clear understanding of your present circumstances. Based on this understanding you will be able to identify your needs and your resources, develop a plan of action, and regularly evaluate your progress to see whether you are still on course.

Income and Outcome

Begin by making a list of all your financial assets, including the money in your checking and savings accounts, investments, and savings bonds. If possible, use a spreadsheet on a computer so that you can do calculations and rearrange the information easily. Next, write down your regular monthly income from all sources. If your income comes at intervals from commissions, contracts, or royalties, write down what you have received over the last six months, and any payments you expect to receive within the next three months, and divide the total by nine. This should be reliable income that you are certain of receiving; note tentative income and pending contracts separately. Now, take a look at your bank statement and credit card statements for the last month, and in another column, write down the amount you have withdrawn from each account. Subtract any major one-time expenditures, such as the purchase of an appliance or payment of a large medical bill. Add up your income and your expenditures, and compare them. If your expenditures for the last month were greater than your income, you need to act quickly to avoid going deeper into debt. Think about how last month compares to other months of the year; was it a typical month, or a month in which you had extra expenses, such as property taxes or Christmas shopping? Are there months when you spend less to compensate? Now make a list of everything you owe: student loans, credit card balances, mortgage, and money you borrowed from a friend or parent.

Create a “Picture” of Your Student Loans

Gather all your student loan documents together and create a chart or a spreadsheet of all your loans. You can begin by going online and looking up your federal loans in the National Student Loan Data System, at www.nslds.ed.gov. Details of private and federal loans obtained through Sallie Mae can be found at Loan Advisor Money Lender. If you borrowed directly from a private lender, look up the information on your promissory note and loan documents, or contact the loan servicer directly.

On a chart or spreadsheet, write down the name and contact information of the loan servicer for each loan, including a telephone number and Web URL, and your account number. Beside each loan, write down the type of loan, the school you attended, the date when the loan was disbursed, the amount of the loan principal, the interest rate, the amount of principal and interest outstanding, the term of the loan, the repayment plan, and the monthly payment and due date. If you have a consolidation loan, remember that it was used to pay off underlying loans that are no longer outstanding. FinAid.org has a convenient chart, at www.finaid.org/loans/studentloanchecklist.phtml, that you can print and fill in. This loan “picture” will help you understand your obligations and make decisions about paying off or consolidating loans. It will also serve as a reference when you need to contact your loan servicer. It is impossible to say exactly how much you will finally pay; the amount is affected by the length of time over which you pay the loan off, whether you have periods of forbearance or make extra payments, and variations in interest rates. You can use calculators, however, to estimate how much you will pay under different circumstances. Add a column to your loan chart showing how much you will pay if the loan is paid off in ten years. Update the chart whenever you make extra payments to bring down the loan balance.

Tuesday, July 31, 2018

Key things you need know to survive in Forex market

deal with currencies
No one in this world can lead to their dream life without working hard. If you look at the experienced retail traders you will find one thing in common. They all are a very hard worker and knows the precise way of market analysis. You might have very access to the trading environment but this doesn’t mean you will be able to make a profit on a regular basis. Losing trades will be always a part of this profession. Though this market offers an extreme level of profit factors to the retail traders this doesn’t mean you will be making a high standard living from a very small investment. If you want to earn more money you need to invest more. But without learning all the details of this market you should never go for big investment. There are few things which you need to know before you start to trade the live market.

Learn from your mistakes

This is one of the most vital things you need to know to become a successful a trader. If you don’t learn from your mistakes you will never fix your existing problems. Some traders often think trading is nothing but gambling. But this is the worst comment, they have ever made in their life. In order to spot your mistake, you must have a trading journal. Some of you might follow the digital journal but it will never help you. Old fashion things are still best when it comes to Forex trading profession. When you write the details of each trade, things will become really very transparent. You won’t be over trading the market since you will be focused on quality trade execution.

Be a confident trader

You have to become a confident trader. Those who lack in confidence can never execute the perfect trade at the right time. Finding the perfect trade setup in your trading platform is very easy but executing the trade at the right time is very hard. This is where you need to show your confidence level. Some of the retail traders might say how to develop a strong level of confidence? Education is the only thing that can help you to develop a strong level of confidence. For the first few months, you need to use the demo accounts so that you are not losing any real money during your learning stage.

Always keep things simple

The rookie traders always love to make things complex. They think by using a complex trading strategy they can easily make money in the long run. When things are too much complex, you will be always under stress. And the first condition to execute a quality trade is the stress-free trading environment. You might be thinking emotions has nothing to do with your profit factors. But if this is one of the most vital thing directly affecting the outcome of each trade.

Use the chart pattern

Chart pattern trading strategy is extremely popular among the professional traders. Majority of the professional price action traders uses the simple chart pattern trading strategy to execute high-quality trades with a very low-risk exposure. The first thing you need to understand to trade the chart pattern is the overall strength of the market trend. Prior to the major breakout, the market will exhibit a ranging movement. At such times you have to stay cautious and look for potential price action trade setups. You might be thinking this is extremely easy but in real time trading spotting the chart pattern and executing a trade is very hard.

So far we have given you the most valuable advice which can change your career. Following these rules seems to be very easy but if you look at the experienced traders you will understand this is the most complex thing in the world. So take your step very carefully when it comes to retail trading business.

Sunday, July 15, 2018

Think You Have Enough Money to Retire? Studies Say You Probably Need More

plan your retirement
Planning for retirement can be an incredibly stressful and challenging process. People wonder whether they are saving enough now or how much money will they need once they retire. As retirement approaches, you might find yourself asking these questions more frequently and worrying more about your preparations.

In a recent report, the Bureau of Labor Statistics found that the average American spends $45,000 per year in retirement. Considering American retirement savings average $200,000, most people will quickly exhaust everything they have put away. Even with supplementary assistance from Social Security and other government programs, many Americans will find themselves unable to pay for necessities early in their retirement. Recent advances in medicine and life expectancy will be wasted if people are unable to afford the extra years they have been granted.

Fortunately, there are a variety of resources to help you plan for retirement and even some for once you have already left the workforce. An excellent tool to determine how your retirement finances stand is the RetireScore Calculator. This device is the only retirement calculator to combine both your health status and finances.

Most calculators focus on just one of these factors, painting an incomplete picture of your ability to afford your retirement. For example, if you have enough money saved for 13 years but a life expectancy of 25, you will need to drastically change your current saving and spending plans. Alternatively, if you have savings for 30 years but a life expectancy of 10, you should focus on improving your health first.

RetireScore will give your percentage chance of affording your retirement given your current health and financial status. From this figure, you can strategize how to alter or maintain your present practices and plans.

If you fill out the calculator and are surprised by the results, don’t worry. There are variety of steps you can take to re-center your retirement finances and create an actionable and successful strategy for the future. We wanted to highlight an option for supplementing your retirement savings and reducing your expenses that most people are unaware of: Selling your life insurance policy.

For some retirees, life insurance premiums are a burdensome expense that can increase as you age, and many people don’t realize they can sell their life insurance policies for cash, often for much more than the surrender value. Life insurance is a piece of property, much like your home, and you can sell it through a process known as a life settlement. In this transaction, the life insurance policyholder sells their policy to the buyer, known as a provider. The provider then continues to pay the premiums on the policy.

Surprisingly, many people allow their policies to lapse because they are unaware of this option. Annually, 250,000 policyholders lapse on their payments, missing out on an average of $51,300 each. Find out what your policy is worth here.

Life settlements are an opportunity to benefit your retirement savings in two ways. First, you are paid a large amount of cash up front that can help you afford your retirement. Second, you no longer have to make premium payments as you age, an expense that can cost thousands of dollars a year.

With an average payout of over $50,000, most people could increase their retirement savings by over a quarter.

Felix Steinmeyer is CEO of Mason Finance Inc. of San Francisco. He is a licensed life insurance settlement provider, member of LISA and received his MS and MBA from Stanford University.

Tuesday, July 10, 2018

Startup Liability Insurance guide - Tips for Planning for the worst

liability coverage
Taking risk is necessary for all types of businesses. But startups should be extra conscious about these risks. They have to ensure taking important steps in order to attain progress. They only way they can do so is by focusing fully on their business without worrying for various risks. In this situation, the best way to avoid potential dangers is by adopting liability insurance.

When starting a business, you should hope for the best but your planning should be for worst situation. Ignoring potential risks destroy chances for growth of any startup and may result in its closure. It is important to save money in the start of a business but you should be wise to know the right type of saving for your type of company. In fact, taking liability insurance will result in saving you from those monetary damages that are unrecoverable and can result in failure of your startup company.

Liability insurance protects businesses against claims from injuries to people or damage to property. Both legal costs and legal payouts are covered in this liability coverage. This type of insurance is especially critical for people like business owners and medical practitioners as they can be held liable to others’ injuries. In order to understand the situation better, we can divide liability insurance guide to its three main types.

Employer’s Liability Insurance

This type of liability insurance protects employer in case an employee get injured while performing employment duties.

Product Liability Insurance

This type of insurance is applicable for products manufactured by businesses and is available for sale in the market. Such type of insurance protects against any lawsuit in case this product cause any type of harm to the user/s.

General Liability Insurance

As the name suggest, the general liability insurance protects startups from general third-party claims as a result of bodily harm or property damage caused by products or services of a company. This type of insurance is necessary for all types of businesses present anywhere in the world (either it is a consultancy in Dubai or a real estate agency in New York).

The above-mentioned liabilities are commonly faced by startups and can damage their newly-started business badly if not protected by liability insurance. But these are not the only liability protections available. Startups can face several other types of liabilities as well and they can take their required liability insurance according to their requirement.

New threats are emerging with the passage of time and different companies may require specific type of insurance for better functioning. Cyber liability insurance (Protects against internet-related risks) is an example which is necessary for companies related to media, programming etc.

You may also want to protect most important members of your company. These persons play important role in overlooking all the matters of any startup. They can only perform their duties well without facing unnecessary risks. In this case, the Director and Officers Liability Insurance should be your preferred choice.

These different types of liability insurances are extremely important for startups as they protect the business and employers from financial damage and mental stress. It is really difficult for startups to manage their losses in absence of such liability protection. Therefore, never underestimate these threats to your business and take measures to reduce damage in the beginning.

Author Bio: Mona is working as a content writer for Riz& Mona Consultancy in Dubai. She has six years of experience in the field. Her main interests are business formation and insurance. She also deals in niches related to finance, taxation, travel, visa processing etc.

Friday, July 6, 2018

Are Binary Options trading riskless or Minimizing Risks?

trading time
These kinds of questions are popped up in the heads of several people who desire to try their chance. Although this isn't a new idea, still individuals give it another thought whether to choose it for the investment. Indeed, it holds true.

In this business, everyone is well aware of the market situation. The beliefs have been continually shuffling on the list of higher, middle and lower levels. If today, the trade market reaches the top covering, there is absolutely no guarantee that it'll adhere to the same position tomorrow or not. As a matter of known fact, this trading is quite not the same as the traditional trading. The binary options trading is completed within a particular allotted time. After the time has gone out or expired, the trade is totally closed, and therefore, the trader is certain to get either the income or maintain the loss. On the other hand, the traditional trading gets the distinct method.

Some secrets associated with this trading are reviewed here. Scroll right down to know at length.

Tips of binary option trading

For the newcomers, the first find out about all the benefits, protocols, and the chance factors of the business. As a web Trader, it is vital for you to obtain all the associated information regarding this trade. Additionally, there may be another option for the newcomers. They need to gather the info about the position of the market place every minute. This relevant and at the same time, the essential data is written by the experienced market specialists, who have a profound understanding of industry conditions.They research every information about the marketplace, varying from the existing market fads to the political circumstances and then supply the right binary options signals by means of essential advice, given by the binary signals providers. These principles depict that the person can get everything or certainly little or nothing. In the nutshell, they help every market Trader to look at the right steps in line with the market.

The most suitable choice to earn

One of the extremely good ways to earn money as many folks would say is to activate trading in binary options. Since it involves speculative investment, it offers the profit probable of around 75 percent each hour even though it can be relatively new as a program. Binary options trading has an almost similar basic school of thought compared to that of classic trading aside from the expiry time or reaches the price of the options. In addition to that, binary options also offer usage of the normal trading systems like forex, Cryptocurrency, stocks and options, and goods, but only with a set return option.

While they might be considered as incredible options, binary options, catered by the Mt4 and Mt5 experts, are the truth is quite easy to utilize. The general idea is the fact that, traders will earn a set amount of going back regardless of how much the financial device moved if indeed they wager properly towards the same direction the marketplace takes alongside the price at the expiry time matching to the punch price. However, if traders bet incorrectly, they will lose a set amount of the amount of money they have spent. First, of a trade, you'll be able to see everything - the chance, the reach price, the expiry time, as well as the payout. Fundamentally, it's the risk and the payout that your traders bet on.

Conclusion

The best benefit relating to this business is that there surely is no dependence on any preceding experience. Just spend money on it and you'll find the gain or the failing. Select the best ECN brokers to enhance your profits while minimizing the chances of the losses.

Thursday, July 5, 2018

Don't Just Sit There! Use binary options signals

its forex
The hottest feature of binary options trading, on the market, is the binary options signals. For years you can see the use of these signals in various marketplaces, such as the forex market. Now, they are known as forex signals. The signals that exist now across the globe in the binary options arena few, but are growing at an alarming rate. You'll be surprised at only just how many binary options signals providers are showing up everywhere around the world these days. However, the question is merely how good are these signals? Well, you will need to research your facts into how helpful these signals are usually to your binary options trading experience.

Beginners

Options trading signals are essential today, but if you are a rookie with digital options, then you should first of all give attention to learning the main element conditions about options. The truth is that if you are an ambitious web Trader, you could start integrating options trading signals into the trading. Please take notice that should be achieved continuously to earn the utmost returns.

Intermediate

If you are an investor in the options trading market with some experience already, options trading signals will be beneficial for you! These signals may maintain their infant level, but taking the benefit in the first stages is why a smart investor is. Many midsections of the street digital options investors already are using options signals with their benefit, and they're seeing the gains climb each trading day in the form of the Cryptocurrency! You should remember that you also should do your research in the market segments. It is true that the options trading signals can’t work as a brain, nevertheless, they are a great tool! It means that if you are using options trading signals together with your personal understanding of digital options, these will eventually payback!

Advanced

If you are the professional or advanced digital options investor, then it truly is your choice if you need to incorporate these kinds of Forex Signals into the trading experience. As it pertains to trading binary options, some professional stock traders like using signals, whereas others do not. This implies you need to determine yourself where you easily fit into. If you carefully research your facts with digital options signals, you might well find that we now have signals on the marketplace which you can purchase, and they'll make options trading simple.

The future

It can look as though you will see an excellent future for options signals. Due to the fact online options are young, binary signals have never come to their full probable. Also, investors themselves don't realize how much they can truly add with their trading experience. This differs from other styles of online trading, where dealers already know the actual that trading signals offer. Therefore, if you are beginning to operate binary options, there are a great number of exciting features that happen to be looking forward to you. All you need to do is, to begin with, the ECN brokers, and you'll see what you've been absent. If you are enthusiastic about binary options signals, then ensure that you use them when you trade options!