Congressman Paul gives and opening statement and questions Ben Bernanke
Duration : 0:8:30
22
Jul
What Should You Look for in a Good Independent Financial Adviser?
Posted by: admin / Category: financial
Ensure the financial adviser you choose is independent
There are a large number of establishments that can supply you with fiscal advisers, but if a financial adviser acts for an establishment, then that person is pretty much called for by that organisation to sell its products. Due to this factor, you may not get the most effective products for you. Independent financial advisers can sell you any products from any business concern, so they are much more likely to choose products dependent upon what you require.
Make sure that your independent financial adviser is fee-based
As soon as you’ve decided to go the independent path, the next thing to regard is how your independent financial adviser gets his money. Although self-styled “free” financial advisers are accessible, be remindful that they realize their cash through commissions. And as they pull in their money through commissions, they’re interested in marketing you the product that’s proceeding to make the most cash for them, rather than the product that may serve you the best. If you opt for a financial adviser that is fee-based, it’s correct that you’ll pay up a small amount more in advance, but you’re likewise in all probability to get honest-to-goodness, satisfactory advice founded upon what’s sincerely the best advice for you, not what’s existing to put more money in your adviser’s pocket.
Acquiring a proficient independent financial adviser
Once you understand what you’re searching for in an independent financial adviser, how should you discover one? One route is you can ask friends and acquaintances for recommendations, but you should likewise check with the Financial Services Authority to check that the adviser is authorized before you decide to work with that individual. You can obtain more data about that at www.fsa.gov.uk/register.
Selecting your independent financial adviser
Once that you know what to search for in your independent financial adviser, you’ll get down to the nitty-gritty. Take your list of recommendations, listings, and so on, and pick out three or four individuals to question. You’ll question these individuals in person to find out which one is the most beneficial financial adviser for you.
An important point to remember when interviewing is that you, not the potetial adviser, is the one who is conducting the consultation. This person is going to be dealing some part of your financial resources, and you are going to have to be able to trust that he or she has both the skill and the trustworthiness to execute the job satisfactorily.
During the time you question each prospect, take with you as much data as your financial adviser is going to need about your position. You should also make sure you are distinct about what your aims are; in other words, what do you want to carry out by having a financial adviser? By holding distinct targets, each potential financial adviser will be much more effective to reply to your queries specifically.
Don’t be afraid to ask questions during your interview if you don’t understand something. To be sure this is necessary because you need to recognise what your financial adviser is speaking about, but you will also have to build reliance and rapport with this person. When you feel at ease asking queries, are not denigrated in any way, and are clearly the one who remains in the driving seat during the procedure, these are good signs that this financial adviser will have your most beneficial concerns at bottom.
Recollect, you are in the driving seat so if during the consultation, you do not feel relaxed, then bring it to a conclusion. Recall once again that you’re interviewing these individuals, not contrariwise. Also, because these people will be manipulating very delicate data about you, you’ll require to be able to have faith in them and feel comfortable with them. There are plenty of independent financial advisers ready to serve you who can do the business appropriately AND who can establish a good working relationship with you as well.
Do not settle for less.
John Cole
http://www.articlesbase.com/ask-an-expert-articles/what-should-you-look-for-in-a-good-independent-financial-adviser-725290.html
22
Jul
Young Adults Need To Seek Wealth Literacy, Not Financial Literacy
Posted by: admin / Category: financial
Today there is much talk about how young adults are financially illiterate as if financial literacy were adequate to build wealth. Millions of people have read one of the best financial literacy books out there “Rich Dad,Poor Dad” yet there is a loss of translation somewhere between the sound principles of financial literacy and their utility in building wealth. Somewhere, there still is a bridge to building wealth that books such as “Rich Dad, Poor Dad” have failed to cross. This bridge is one of not financial literacy, but one of wealth literacy. If I were a university President, I would ensure that my business program offered the following courses:
(1) How to Leverage Money
(2) The Four Pillars of Wealth
(3) How to Invest Money
(4) Gold and Precious Metals
(5) How to Leverage Time
(6) Debunking Widespread Investment Myths; and
(7) Networking
There would be several more lessons that I would provide after this basic curriculum was completed, including:
(1) The Connection Between Politics and Investing; and
(2) Leveraging Technology to Build Wealth
With an adequate foundation of knowledge in all these courses, a young adult would be prepared to build wealth without so much trial and error, struggle, or outright failure. Instead, no level of traditional institutions of education teach such courses and instead remain mired in curriculums skewed towards theory and not applicability such as statistics, economics 101, marketing and finance. If you think about it, even at the Master level, none of these traditional business or financial literacy courses will really teach any student how to build wealth. This is precisely the reason why young adults must seek an entirely different foundation in order to understand how to truly build wealth.
Various surveys that I have stumbled across that assess the financial literacy of young adults are inadequately structured because they focus too much on traditional concepts such as stocks, options, real estate, and so on versus granting an assessment on whether young adults are knowledgeable about any concepts necessary to build wealth. Being “financially” literate versus being “wealth” literate are two entirely different concepts. I believe that one can be financially literate while not being wealth literate.
The difference between financial literacy courses and wealth literacy courses is this. Financial literacy courses focus on topics such as budgeting, basic understanding of investing concepts, funding retirement accounts and so on – concepts that young adults rarely consider but still not concepts that will help them build wealth. Financial literacy courses teach young adults what they need to do to build wealth but grants them none of the tools they will actually need to successfully build wealth. Furthermore, they never inform them on actionable steps to build wealth other than common sense such as learn how to invest, max out your 401 (k) contributions and so on.
For example, if one was a basketball player, the comparable level of a financial literacy course would be to tell a power forward that he needs a good array of post-up moves close to the basket, a sweet outside shot to make opponents respect his range, a quick first step to create off the dribble and a solid defensive game so that opponents can not exploit him for being a one-dimensional player. But after telling the power forward that, there would be no further explanation but a wish of “good luck” and a pat on the back. A wealth literacy course would actually teach the athlete specifically what he would need to do to achieve success in each area of his game that would make him a premier athlete.
Telling young adults what they need to do will have little impact on improving their quality of life or making a successful transition from young adults into financially independent adults. Providing a toolkit for how to do so is far more important. To this end, seeking courses that teach wealth literacy instead of financial literacy to young adults is much more important.
J.S. Kim
http://www.articlesbase.com/education-articles/young-adults-need-to-seek-wealth-literacy-not-financial-literacy-139717.html
Can you imagine a scenario where your students reach their mid-thirties and the majority of them are buried in student debt? This is a reality for many young adults today. This scenario can be avoided just by adding a practical financial literacy curriculum to your instruction. By doing so you will have provided your students the tools necessary to create a brighter future.
Most high school teachers understand the importance of providing a practical financial literacy curriculum for their students. Unfortunately, many teachers lack the time and money to teach this vital life skill. The need for students to be financially prepared is of significant importance before they step on a college campus or move out on their own. So that your students are prepared for the financial real world, implement the simple tips below. It will help your students avoid financial pitfalls and succeed financially.
1. Relate money to lifestyle. Most young adults are not motivated by having a large bank account. It’s what money provides them that gives them the encouragement to learn money management skills. It’s the experiences they want to have, places they want to travel, the people they want to help and getting the toys they dream about that motivate them to learn about money.
Locate financial literacy curriculum that will help your students relate money to their personal life. You will find the majority of students do want to receive financial literacy training and they pay close attention to financial literacy instruction when the message matches their personal goals.
2. Develop a savings plan. Give your students a head start by helping them develop a savings plan (aka budget). As a part of your financial literacy curriculum, have them manage their own finances to create a working budget. For teenagers living at home, encourage them to set aside fourty percent for long-term savings. This not only will get them started building a nest egg but will help them develop a good savings habit.
An essential element to include in your financial literacy training is to help them understand the difference between a ‘need’ and a ‘want’. Wanting a $5 dollar cup of coffee everyday adds up to over $1800 per year. This essential financial education training lesson will help to counteract the years of ‘buy, buy, buy’ advertisements they are exposed to.
3. Open Accounts. Have your students participate in a real world financial education activities that will ensure their secure future. Suggest that your students go with their parents to open their savings and checking account. This is a great way to help the parents be more active in the students schooling.
4. Invest early and consistently. When teaching a practical financial literacy curriculum one of the most important math lessons you can teach is the power of ‘compounding interest’. This allows your students to make money off the initial investment plus all the money the money that the investment already retuned. In your financial literacy curriculum, show them how fast a small investment can add up. Just an $83 investment made each month could mean over a million dollars in their account when they are in their fifties. Providing your students these practical financial lessons will give them an advantage that most people won’t have.
Financial education is an important part of your student’s future success. With a practical financial literacy curriculum they will avoid the most common financial mistakes, be able to enjoy life more and will be well on their way to securing their financial future.
Vince Shorb
http://www.articlesbase.com/education-articles/practical-financial-education-curriculum-tips-411011.html
My financial website is;
http://www.ezfinancialtutorials.com
Some info about mutual funds, including window dressing, no load and loaded funds and Berkshire Hathaway’s price per share of Class A stock
Duration : 0:8:23
Ron White has an idea to get the money the country lost back.
Buying a home is a decision which you must think over carefully. This is very important since this property can be your most-prized possession. Since you will be residing within your home most hours of the week, you should make sure that this is comfortable enough. You should also make sure that your house is sturdy and can endure harsh weather conditions. Most homes which have these qualities require you to spend much. This is due to the fact that the best houses are offered at high prices. If you want to buy a home which is guaranteed to last for many years but your savings is not enough, you can choose to take out a mortgage.
If you are living within the United Kingdom, you might want to opt for the deals which are offered by Personal Touch Financial. This is a company which is based in Lincolnshire, Derbyshire, and Nottingham. Whichever U.K. city you are residing at, you can opt for the services of this company. Whatever type of mortgage you want in accordance with your financial situation, Personal Touch financial will be able to provide you with the greatest deal. Their mortgage products are carefully selected from the entire market. This will allow you to choose from a long list of deals and packages.
When you are searching for specific mortgages Nottingham and you are living within this area, you can just drop by Personal Touch Financial. If you are looking into prices, get a quote over the online site of the company. Other than getting quotes, you can also read the latest news on mortgage and insurance at the website of Personal Touch Financial. When you are a first-time purchaser of mortgage, the professional advisers of the company can provide you with a product which best suits your needs and your income.
You can also avail of mortgages Derbyshire when you live within the area. Even if you already own a home and you are considering of taking out another mortgage, Personal Touch Financial can still provide you with great deals. You can opt to buy mortgage when you want to redecorate your home. You can also opt for this when you want to get rid of your existing debts or loans. Whatever reason you have for availing of one of the mortgage packages of Personal Touch Financial, you can do so with provided assistance.
Other than mortgage products, Personal Touch Financial can also aid you with your financial problems. It has a team of specialists who can provide you with advices on the best mortgage product that will help you solve your dilemma. This goes especially when you have late payments to take care of. When you have mortgage arrears, defaults, CCJ’s, or IVA’s, you might want to opt for the assistance of the specialists of Personal Touch Financial. This service is also appropriate for you when you are on the verge of filing for bankruptcy.
If you want to make sure that your home is covered for during future accidents, Personal Touch Financial can offer you with home insurance. Wherever you are residing within the U.K., you can either choose from home insurance Lincolnshire or Derbyshire.
Vikram kuamr
http://www.articlesbase.com/finance-articles/the-mortgage-options-at-personal-touch-financial-323053.html
18
Jul
Investing: Get Free Answers To Your Financial Questions
Posted by: admin / Category: financial
Sometimes it is the little things in life that really make the difference. That’s especially true then when it comes to dealing with financial matters. Decisions about who to trust, what to invest in, making gifts or the type of insurance to buy all have long-term consequences–and often unintended results. There are many times that a simple answer from a professional would have made all the difference. And now you can get that answer free of charge.
I’ve written over 160 articles since Guarding Your Wealth was nationally-syndicated over two years ago. Based on the comments from readers, these articles contain information they find very helpful, allowing them to answer many of life’s financial questions. You can freely explore this wealth of information at my website.
But sometimes it can be difficult to make the connection from a general news article to your own specific situation. Sure, that reader from Florida needed a Living Trust, but what about me? Those articles about Equity Indexed Annuities are informative, but what do I do about my elderly mother that just sunk all her money into one? It’s obvious that retirement portfolios need to be well diversified, but what do I do with my nest egg?
That’s where my ‘Ask Jeff’ can be of such a benefit. I can take my advice to readers nationwide and personalize it specifically for you. Many times you’ll hear back from me in a couple of hours. Other times it may take a day or so–it all depends on how tied up I am at the time.
How do I make money doing this? (My wife asks me that question all the time!) 99% of the time I don’t. I make a living serving as a personal, private money manager for a small group of clients nationwide. I provide a service they can’t find anywhere else for a fraction of what others charge.
Most of those who ask me questions will never need or use my services. Occasionally someone will and, if they become a client, I receive a fee for managing money on their behalf. But the only payback for nearly all of the questions I answer is the knowledge that I am able to provide unbiased, honest advice that can’t easily be found elsewhere. It’s that I’m doing what’s right.
Turning to the traditional financial services industry for answers to these kinds of questions isn’t easy. If you go to an insurance agent, their answer will involve an insurance product. If the advisor makes money selling stocks or bonds, don’t be surprised if their answer involves investing in them. Remember, if all you have is a hammer, everything begins looking like a nail! And you don’t want to get nailed!
I’m not saying that most advisors are dishonest. They aren’t. They are hard-working professionals with the best of intentions. But they work in an industry that values sales of products over all else. And consumers are typically kept in the dark about the tremendous conflicts of interest coloring their advisor’s recommendations.
For instance, I’ve been researching a product pitched to seniors that has an 80% market share. But if someone were given all the information on this investment, no one would buy it! Of course those selling it are going to give you only the information you need to arrive at the conclusion they desire.
That’s the way it usually works in the financial services industry. And that’s a shame. It does a great disservice to industry professionals who should be highly regarded, and to those the industry is supposed to serve.
Nationally-syndicated financial columnist and Certified financial Planner Jeffrey Voudrie provides personal, in-depth money management services and advice to select private clients throughout the USA. He will answer your financial question FREE.
Readers find my articles refreshing because they provide straight-forward, tell-it-like-it-is advice. Since I don’t have a financial incentive in the outcome there isn’t a reason for me to mislead you.
You will be sent an email to verify your email address. It is very frustrating for me to take the time to write a detailed answer to someone’s question only to find out that the answer didn’t reach them.
Remember, today’s financial decisions may have long-term unintended consequences. So take me up on my offer, it won’t cost you a thing.
Jeffrey Voudrie
http://www.articlesbase.com/non-fiction-articles/investing-get-free-answers-to-your-financial-questions-140490.html
Financial advisors are trained professionals in a highly-regulated industry. Like doctors and lawyers, financial advisors must be licensed and undergo continuing education. Unfortunately, financial advisors are salespeople, and many put their role as salesmen ahead of their roles as fiduciary professionals.
Here are some tips to make sure that you find a person who is a credit to the investment industry, not a cheap salesman in a fancy suit.
Experience or Youth – Which is Better For You?
How experienced is your financial advisor? If he or she appears to be older, this does not necessarily answer your question. Many people become financial advisors after being displaced from another career.
Experience is important, but don’t necessarily disqualify a would-be financial advisor for being new to the industry. Many more experienced financial advisors develop bad habits over the course of a career, and may not be up on the newest trends.
Older financial advisors may be more conservative in their recommendations, which may or may not be appropriate for you.
If your financial advisor is experienced, ask for some references. A good financial advisor with happy clients will be eager to provide them. A shady one will skirt the issue. It will be easy to tell.
If your financial advisor is new to the industry, ask him or her what score they received on the Series 7 exam. More experienced brokers will undoubtedly find such a question offensive, and it is less relevant for them.
But newer financial advisors are there for one of two reasons – 1) They have strong sales skills, which is good for the company but probably not for you. 2) They have strong investment knowledge, in which case, they may be a better financial advisor for you than their other, more experienced counterparts.
The Series 7 exam is a comprehensive test of a new financial advisor’s investments knowledge, which a full 33 percent of would-be brokers fail and has a median score of just 73 percent. Look for a new financial advisor with a score of at least 85 percent – they are not easy to find, but they know their stuff.
Interview Your Prospective Financial Advisor
Set up a face-to-face interview with at least four financial advisors from different firms. First, take note of their phone demeanor. Does the person sound like a professional?
Does she seem eager to meet with you or expect you to qualify? A true investment professional is interested in helping people, whether they are worth $500 million or $5,000. Only cheap salespeople from disreputable firms refuse to work with people of modest means.
When you meet the financial advisor, take note of his company’s office. Does it seem professional and well managed? Professionals take pride in their work and conform to industry standards. In the investment world, this means everyone is in professional business dress and things are orderly.
During the interview, determine whether the broker is truly trying to assess your needs or simply trying to sell you products for which he earns a high commission.
Never buy mutual funds from a broker – you can pick mutual funds for yourself. Funds sold by brokers include sales charges, whereas funds you can buy on your own typically do not. Also, be highly skeptical of annuity products.
Finally, when you have narrowed your search down to your favorites, Google their employers. If there have been any securities law violations by the firms, take this into account when making your decision.
A perfectly good advisor can work for a firm with a bad apple or two, but if there are multiple violations, particularly from the executive level of the firm, then the company probably does not practice the best business ethics and it is most likely advisable that you take your business elsewhere.
William Smith
http://www.articlesbase.com/non-fiction-articles/how-to-find-good-qualified-financial-advisors-79076.html
18
Jul
The financial regulatory bill is supposed to keep another financial crisis from happening. But Dodd says?
Posted by: admin / Category: financial"We don’t know ultimately how well the ideas we’ve incorporated here will achieve the results we desire. It will take the next economic crisis, as certainly it will come, to determine whether or not the provisions of this bill will actually provide this generation or the next generation of regulators with the tools necessary to minimize the effects of that crisis when it happens." So they are planning on regulating us out of prosperity and they still are expecting more financial collapse. How comfortable are you with this?
This is precisely why lawyers should not craft economic policy nor design financial instruments. They don’t understand them or how they work.
In the big picture, I think this goes back at least forty years to the first heavy rounds of industrial regulation. For quite a time, until the mid-90s, the momentum was towards deregulation. Allow more competition, fewer restrictions and rules.
Now, especially with the financial crisis, the momentum is swinging back the other way towards more regulation. Note I don’t say GOOD regulation. Dodd et al will never be able to outlaw greed nor remove incentives for profit. Well, actually they could eliminate all profit incentives but we would rather not have the entire economy brought to its knees. Well, i’d rather not see that anyway.
Point is, this bill at least isn’t as bad as the first version (which would’ve broken down all major banks and taxed the heck of out depositors) but it still reflects the wrong response. The system is not fundamentally broken and it doesn’t need an absolute overhaul. if we think the problem is with excessive speculation on financial derivatives, fine let’s regulate how much a bank can throw at those derivatives and make all such transactions across transparent markets. I can deal with that – it’s a small (relatively speaking) loss of economic activity.
What I don’t understand is why:
* They want to tax banks for holding consumer’s money in savings accounts (ie, the liabilities tax, since deposit accounts are a liability)
* They want to change the way agricultural futures and derivatives are traded – this is how most farmers and small businesses make a living, it helps them to balance out the fluctuations in food costs. This can’t be understated – if our farmers aren’t able to protect themselves financially from droughts or oversupply of crops, our food supply is at risk because the suppliers of food are going to leave the market. There’s also no abuse here – the economic crisis was NOT brought about because of excessive speculation on winter red wheat.
* They want to change how we buy insurance. I like our insurance. If we want to expand how many people get isnurance, why not subsidize it? Why does it take an entirely new administrative entity to tell me that I’m allowed to buyt he insurance my company offers as a benefit?