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Content about Personal finance

July 24, 2011
Best Retirement Plans for Small Business Owners

Small and medium business owners usually have too many thin on their radar and retirement planning tend to take a back seat. In the end most small and mid-size business owners don't save enough for retirement.

According to Small Business Administration (SBA), only 36% of small business owners have an active IRA and only 30% participant actively contribute to it. Another twenty percent participate in 401(k) plans. This leaves almost 50% of small and mid-size business owners with no serious plan for retirement.

Small and medium business owners usually have too many thin on their radar and retirement planning tend to take a back seat. In the end most small and mid-size business owners don't save enough for retirement.

According to Small Business Administration (SBA), only 36% of small business owners have an active IRA and only 30% participant actively contribute to it. Another twenty percent participate in 401(k) plans. This leaves almost 50% of small and mid-size business owners with no serious plan for retirement.

March 23, 2011
Choosing Your Financial Professional

Choosing your team of financial professionals, and especially those who may advise you on investment decisions, takes some careful planning and reference checking on your part. You need to have a very clear understanding of the services and associated costs when hiring a financial professional.

March 14, 2011
Credit Card Accountability, Responsibility and Disclosure (CARD) Act.

CARD legislation affects all credit card consumers starting in 2010. This act goes into effect in February 2010. Changes resulted from this act are intended to make it easier for you as a consumer to manage your credit card accounts.

CARD legislation affects all credit card consumers starting in 2010. This act goes into effect in February 2010. Changes resulted from this act are intended to make it easier for you as a consumer to manage your credit card accounts.

While each credit card company will respond with its own changes to address this legislation, here is the brief summary of what to expect.

 

 

 

 

March 11, 2011
Debt Consolidation Options

If you have too much consumer debt, you probably have looked into companies offering debt consolidation services. There are thousands of debt consolidation companies out there promising to wipe out your debt overnight but reality suggests otherwise. Most of these companies promise "Easy Monthly Payment Plans" with reduce payments and lower interest rates.

If you have too much consumer debt, you probably have looked into debt consolidation. There are thousands of debt consolidation companies out there promising to wipe out your debt overnight but reality suggests otherwise. Most of these companies promise "Easy Monthly Payment Plans" with reduce payments and lower interest rates.

March 10, 2011
Understanding Your Credit Score Aka FICO Score

Credit score rating system is meant to develop a snapshot of the risk you currently represent to a lender. Several parameters in your credit file, including length of credit history, number of open accounts, loans, mortgages, public records, and others are formulated to produce a three-digit score between about 300 and 850.

February 24, 2011
APR vs. APY | What is the Difference Between APY and APR?

APR and APY are two very different terms used in interest calculations. It is very easy to get confused even if you're financial savvy.

APR and APY are two very different terms used in interest calculations. It is very easy to get confused even if you're financial savvy. Remember, not understanding the proper financial language and terms can cost you money. This article attempts to clear up the difference between APR and APY and should come in handy when you shop for a loan or looking to deposit money in a saving or money market account.

February 21, 2011
All About Auto Loans

Understanding Auto Loans
Almost 80% of all new car purchases are financed. So there are lot of players in car loan market. More than likely your dealer will offer you its own loan as well. But remember, even though your car loan is approved at car dealership, it is not issued by them. They just provided a service to connect you to a bank that offers car loans.

Almost 80% of all new car purchases are financed. So there are lot of players in car loan market. More than likely your dealer will offer you its own loan as well. But remember, even though your car loan is approved at car dealership, it is not issued by them. They just provided a service to connect you to a bank that offers car loans.

February 21, 2011
Wealth Accumulation Strategies

A successfully wealth management strategy requires realistic and useful financial goals. Your financial goals are the signposts on the road-map to a secure financial future.  

February 21, 2011
What Factors Affect Your Credit Score?

Credit rating systems all have the same objective, to determine the borrower's potential risk. Regardless of whether the score was generated by FICO or a system based on FICO parameters, they all yield an industry standard three-digit score. 

Credit rating systems all have the same objective, to determine the borrower's potential risk. Regardless of whether the score was generated by FICO or a system based on FICO parameters, they all yield an industry standard three-digit score. This score places the borrower in one of three main categories - Prime, Sub Prime and at Risk.

 

February 20, 2011
Wealth Protection and Transfer

Wealth protection and transfer to your dependents is one of the critical piece is financial success. One of the simplest piece of financial advice is to spend less than what you earn. It may sound simple, but if you are not fully aware of how you spend money, you may be spending more than you realize. One you have master this, rest is easy but you need to figure out some parameters to measure your success. 

February 10, 2011
Successful Budget Planning

Anyone can create a budget but very few succeed in what they set out to do. One of the critical pieces of a successful budget planning is to clearly separate your "needs" and "wants". 

January 20, 2011
Retirement Planning Guide

Most people don't think beyond 401(k) plans when it comes to retirement. Remember, 401(k) is an important piece of retirement puzzle but there is lot more to it.

Millions of babyboomers are getting ready to retire and a large number of them have good reasons to be very nervous. Remember, social security is no longer a bullet proof system as it used to be and if congress doesn't make some radical changes to social security system,it will go bankrupt by 2042. With the low personal saving rate in out country, there are not many options for people in retirement who don't have a adequate nest egg.