When I started my trucking company, I had just two trucks. I drove one, and my brother drove the other. As we started making more money, we were able to add on more trucks. Life was going good until a lot of our clients started slowing down as far as paying their bills to us was concerned. I had obligations such as payroll and deliveries to meet, which is why I looked into freight factoring. I had heard of this before, but I wasn’t too sure what all it entailed.
What I did know was that I needed money, and this seemed like a good way to get it quickly. (more…)
I was talking to this guy at church and he was talking about how he needed to start thinking more about the preservation of wealth, since he was getting to the age where he was going to start needing to use the money he was saving for retirement. Of course he was a 57 year old insurance agent and he had made a lot of money. If I was in his position I would be taking the same position, but instead I am a 45 year old plumber and I make most of my money myself. I have all of my investments in my self and my own company. It is not as though I can really think of things the same way as another guy might. (more…)
I knew that when my brother became an investment banker that he had to pass a lot of tests in order to get his series seven license. I was really proud of him because he was going to go and work with my dad and eventually take over my dad’s investment firm. There are a lot of people that think that they can go and make a lot of money on the stock market when they do not have any training and it is like a condon treasure to find a stock that you can buy for pennies that will sell for hundreds of dollars. My dad started off trading junk bonds which meant that they were not worth anything but in due time they would mature and he would be able to collect a lot of money on them. (more…)
It is not as though I am at all sure what I can do to change any of it, but I am going to think about whether or not I am going to be able to retire early. The big question is how I would be able to bridge the gap between the time when I would lose my company provided health insurance plan and when I would be eligible for medicare. I have been looking at 2014 medicare advantage plans today, but I think that is not what I need to be thinking about. The health insurance is the big issue though. All of the other stuff seems not to be that huge of an issue, if you assume that I am going to be able to budget my money properly while I am retired. Of course there is the possibility of some sort of unforeseen event that would cost me too much money for me to manage.
However I have paid off the house already and I have a brand new pick up truck that I paid cash for. Lisa has a really nice station wagon. We are really lucky that our kids went to college on scholarships and then got really good jobs. In fact my son is a chemical engineer and my daughter is an associate professor of English at a nearby Women’s College. Some of the people I know at my age still have to support their children to some extent, because of the way things are in the world today mostly. There just are not a lot of jobs out there unless you go to college and do well there. It is just not the same country that it was when I went into the work force back when I was a young man.
Just got finished doing a little debt review and I am thinking that with a bit of work I should be able to get things back on track. It is not like it is going to be incredibly easy, but the big thing is going to be getting a few high interest rate debts behind me. I was thinking about getting a new credit card with an introductory rate of something like zero percent. It is not like that would be a panacea, in fact it would not do me any good if I did not take advantage of it in some tangible way. Obviously the fact is that you need to pay off your debts sooner or later and the obvious idea is to do it as soon as you are able to do so. I am not really spending money the way that I had been of late however.
I got into this trouble to large extent because I was dating a girl who had to go out every night of the week. (more…)
No real good idea as to whether or not it is truly possible, but Emma and I have been sitting down today to look at the possibility of retiring early. Of course it would not be easy at all. I joined the United States Air force right after I graduated from high school and retired on half pay after twenty years of service. I was an E 7 rating, but they figure me at E6 for that purpose. Then I went to work for the state and of course they give me blue cross blue shield of florida health insurance. I could retired from the state at the age of 58, but right now I am only 49 years old and so that is a good ways off. (more…)
When Preparing to Buy a Home, you want to make sure you have a good understanding of the process to make sure everything goes as smoothly as possible. This guide will help you as a first home buyer to make the best decisions as you prepare to buy your home.
Make Sure You Meet Lending Criteria
Before you talk with a mortgage broker, you first want to make sure you meet all of the lending criteria most major banks have. Ideally, you should have been at your current job for at least 6 months, and 12 months if you are a contract employee or 2 years if you are self-employed. You should also have a clean credit history without excessive applications for loans or credit cards in the year prior to your home loan application. Lenders will also want to see genuine savings in a savings account, term deposit or shares of more than 5% of your purchase price, and it’s best to have a larger deposit. This shows your lender that your loan would be of a lower risk to them.
Provide the Proper Documentation
When applying for a home loan, you should have as much information available as possible to heighten your chances of approval. You will typically need to have proper identification, a statement of all of your debts that was received in the mail and a rental statement if you own any investment properties. If you are self-employed, you will also need to show 2 years of personal tax assessment notices, tax returns, trust, partnership or company tax returns and financial statements if you have them. If you are refinancing, you will also need to show 6 months of statements received in the mail for your current home loan and a council rates notice for the property or properties you plan on using as security.
Find Your Mortgage
Once you’re sure you meet lending criteria and have the proper documents to obtain a loan, you want to find a mortgage. You should look for low fees, low home loan rates, portability and flexibility to determine what type of home loan will be the best for your needs. Home loans are typically available in interest options and repayment options, but there are also some other specialty products to consider, including a mortgage offset account, All in One Loan and introductory or honeymoon rate.
Having financial Health in retirement should be one of your main priorities in life. Far too many people avoid investing in their financial future until it’s too late. Australian workers have the option of investing in a superannuation fund that’s basically a retirement account. Except for employees working in the public sector, and certain employees receiving awards from the state, everyone is free to choose their own fund.
A Superannuation is funded by the income you receive from your employer. For every contribution a certain amount from your income is deposited into the account and that money is tax free. As far as contribution limits are concerned it all depends on the kind of contribution that gets made. Concessional contributions are the contributions made by your employer. The annual limit for these contributions is $50,000. If you’re self-employed the annual limit is also $50,000 and is tax deductible.
Often times people wonder about what happens to their superannuation Investments when they change employers. Just because you change jobs doesn’t mean your funds have to. You can keep your funds in your initial account, or have them roll-over to a new superannuation account. If you’d like, you could ask your new employer to contribute to your old fund, but some employers refuse to do this. If you so happen to lose track of your superannuation, you can retrieve it by contacting the Australian tax office.
The funds in your superannuation aren’t available until you’re between the ages of 55 and 60. At this point whether you qualify to receive your funds will depend on your preservation age. You may be able to withdraw Retirement funds before then, but these accommodations are only made for exceptional circumstances. For instance, if you’ve lost your means of income and are having extreme financial problems, you may request to receive money from your funds. If you become deceased, or disabled, your family member or beneficiary may be allowed to withdraw the remainder of your superannuation.
Financial planning is important, and having a superannuation is a clear cut path to a secured financial future. As you contribute your funds will grow and will amass a nice nest egg in 20 or 30 years.
The current market space has become extremely cutthroat and risky. Excessive competition has brought in several investment opportunities for business entrepreneurs. It has become essential for every business entity to have its investments thoroughly analyzed by in-house experts. However, several risks which are external ought to be checked by business credit check UK. Choose an agency which can provide your business with no hassles of contracts, nor any compulsions of tie-ins. There are professional business credit check agencies which can give you exactly what you pay for. You can get all your comprehensive reports within a short span of time, from the date of placing the request.
It is this authentic flow of information from company credit check UK that can help you make an informed decision to carry out certain steps in your business. Professional business check agencies know how to keep it simple, and will offer round-the-clock assistance in accessing your account at any time. If you want to print and share your PDF documents with your management, a business check agency can help you do the needful. Every professional enterprise needs to take appropriate steps in choosing your customers or clients. Financial institutions need to take more care in selecting their customers. Someone with a bad rating or financial standing should not be welcomed. Review sites can help your business choose the company credit check agency without any hassles. Business forums can also be a good source to bail your company out of trying situations.
Parents often get really frustrated when their kids go on shopping sprees that involve abusing credit cards. Teens have poor spending habits that lead to debt and other financial problems for parents. Fortunately, there is a way to control the bad spending practices of naive teenagers. A refillable credit card can be used in order to spend only a specific amount of money. In other words, such a card can only be used to make purchases on the amount that is available. If there aren’t any funds on the card, then a purchase cannot be made but no penalties are given.
By contrast, credit cards may approve transactions that bring the total account balance to a negative value. Such purchases often lead to penalties such as overdraft fees and other surcharges. Try a Kaiku reloadable credit card is an example of controlling poor shopping habits.
A parent can easily manage the account of a refillable card. Funds can be added to the card via personal checking accounts and other methods such as electronic payments. Parents can access the account balance of a prepaid card at any time. When there is a need to add money, a mom or dad can decide to add funds that can be used by a child.
Refillable credit cards come with the same technology and regulations as actual credit cards. For example, magnetic stripes and smart microchips are used for the swiping action. Additionally, PINs and security numbers are also used on modern prepaid cards.