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An article by Gary Durkin
Founder of the Internet Advice Center

you-can-retire-successfully

You CAN Retire Successfully

Writen by Maureen Sinclair

All too often, I hear about people who retired and then returned to work because they had to in order to meet their living expenses or because they could not stand not having any purpose in their lives.

To both those reasons, I say nonsense, you can retire, make ends meet and live with purpose If you really want too. I know, because I’m doing it. To be certain, in order to retire successfully, you must lay some ground work prior to doing it. In the following steps, I will tell you what I did and show you how I did it and finally, make some suggestions to tell you how you can do it too.

1. You must decide if you really want to retire. Ever since we were young, just setting off in life, we’ve been thinking about a time when we would have nothing to do but just live as we had done when we were children. That is, we would not worry about where our next meal was coming from, we would not worry about keeping a roof over our heads, we would not worry about taking care of others, we would not worry about bills, we would not worry about what others thought of what we said or did (within reason, of course) and we would not worry about not having fun. Once we settled into the 9 to 5 routine, no holidays except those carefully prescribed by law, no summer vacations, the facts of life set in and most of us really did not like being put in harness. But, for the most part, we wore that harness and did what was expected of us and talked about retirement. That’s what most of us did, including me, we just talked about it. We did not think the day would ever come and for the most part, we did nothing to plan for it. Consequently, for many of us, retirement seems impossible. Especially for woman of retirement age now, we expected to be taken care of from cradle to grave. This is particularly true if we did not have husbands to make retirement plans for us.

Think about the question: do you really want to retire? Think about what you would REALLY do, it you did not have to go to work. Each of us has to answer these questions for ourselves. I left a good paying consulting job in order to retire. I was not forced out of work by younger workers nipping at my heels or by downsizing. I left because of the things I still wanted to do while I still could do them. Looking back into the past, I remembered the things that I did or wanted to do before the realities of my life took over. I wanted to travel and I wanted to write. You also have to consider what you want to do now if you had the time to do it. For me, I want to be able to spend time with my family and especially my young grandchildren. I want to learn how to draw. I still want to travel and I still want to write. As long as I kept a full time job, I saw no way to do these things as I wanted to do them: with all my heart and full time.

2. Once the decision is made, you must carefully figure out how you will do it. I believed that it was essential that I keep myself under my own roof and that I, and I, alone owned that roof; not the bank, not a mortgage company, not any onejust me. I knew that I needed to make certain that I had health insurance and that I could keep some type of health insurance until I died. I also knew that I had to be certain that my family would not be saddled with any debt for my burial. I knew that I needed enough to keep myself fed and clothed. I knew that I would have to make certain that I could pay my utilities. I also knew that I had no retirement except for social security. Remember what I said above about women my age, and this is especially true of those us who were single mothers and solely responsible for ourselves and our children. And there are millions of us who fit this description. I knew that I had credit card debt. I also knew that the bank, and I, owned a home that had accrued some equity (I did do something right to prepare for retirement) and that the house was too big for my needs and was a huge drain on my finances.

3. Once I had made up my mind that I did want to retire and I had looked at what my needs in retirement would be, I set out to make it possible. I gave myself a dead line that within two years of all this thinking, I would be retired. To start, I looked at where I would retire. There are some places where I believe retiring, on a modest retirement income, would be almost impossible, but then, anything is possible if you want it badly enough and if you are willing to make trade-offs to made it so. I do not believe, for example, that you could find affordable housing, on a very limited budget, in New York or Beverly Hills. You could decide to live near these cities, but not in these cities. I needed to make certain that all my credit card debt has been retired and I needed to learn to live without those cards. In other words, and to the horror of the banks and credit lending institutions, I had to learn to live on a “cash only” basis. And to the horror of those same institutions, I decided that when I retired, I would live in my own home, mortgage free. And finally, and this was a shock, I looked at all those notices that I had been getting in the mail from social security and found out what I would be living on from my social security account.

4. My plan called for selling my home, selling whatever over-sized furniture I owed and for which I did not have some overly sentimental attachment. My plan called for finding a place to live where I could be happy. I needed to live close to a city, but not necessarily in one. I needed to live near water. I needed to live in a temperate climate with all four seasons. I needed to be able to buy my house outright and to put whatever I made from the sale of my older home, over and above the price of the new house, into savings. I wanted to be close to, if not my entire family, at least some part of my family.

Now here is what I did that many would consider shocking. At the age of 63, I bought a home in Canada close to my youngest son and his family. I reasoned that the American dollar would always be stronger than the Canadian so my retirement dollars would farther. Land and housing prices in Canada are much more reasonable than they are in the United States. This is particularly true of the Province that I chose to live. The house took only a little of the proceeds I recognized from the sale of my old home and that money is now in the bank and is only used for special needs and occasions. I know that some of you are thinking “why doesn’t she invest that”. Well, I would if I knew anything about investments, which I don’t. I do know that it is safe in the bank and will be there when I need it.

Now, not everyone, or possibly anyone reading this, would do what I have done with respect to leaving the United States. They also would not consider leaving the part of the country where they have lived all their lives and that is not necessary. I am willing to tell you what I did and why, but everyone has to make their own choices. I am saying that anyone can make choices that will allow them to live comfortably in retirement if that is what they want and they are willing to make changes in their life and lifestyles.

I do need to tell you that if you want to retire on a budget, you must downsize the house you live in. Do you really need a 2,000 plus, square foot home with four bedrooms? My house is a small two bedroom bungalow with one bathroom. This is the size of the houses most of us grew up in during the 50’s, 60’s and even the early ’70’s. It has a large eat-in kitchen with a walk-in pantry, an enclosed porch, and a small living room. I use one of the bedrooms as an office and work area for my various crafts. Obviously when I have company it serves as a guest bedroom too. It is easy to maintain and it is easy to heat. The taxes are low.

You should know that you can live without a mortgage and whether you retire or not, you should pay off your mortgage as soon as you can and avoid those constant notices that come in the mail advising you that you can get a low cost equity loan on your house. You pay for what you borrow, and you could, if you come on hard times, lose your house because you do not really own it until the mortgage debt is retired. I remember a time when Americans expected to pay off their mortgages and that it was considered a good thing to do so. It is still a good thing and don’t let lending institutions tell you differently. Likewise, I remember a time when it was a good thing for Americans not to be in debt to anyone. Once again, that is still a good thing and don’t let anyone tell you differently.

Although I live in Canada and do not have health insurance worries, I believe that with planning, retirees can have affordable health insurance in the United States. Combining Medicare and Medicaid with a supplemental policy (see AARP), it is possible. If I were living in the States, I would take a supplemental policy with the largest deductible I could get. In that way, you will minimize your payments and you will assure yourself of treatment. After you are on your feet you can negotiate an payment plan affordable for you, out of your available funds, to pay whatever is owed on the deductible. In addition, if I were living in the States, I would stay on top of health care issues and make certain that the Congress becomes responsible for enacting laws that make health insurance available and affordable for all Americans.

Other than health insurance, home owners insurance and car insurance no one should pay for more. And I believe that it is in your best interest to chose a high deductible on your policies to lower your costs and to keep the money in your hands. If you want, put a few thousand dollars into a bank account and keep it there as a buffer against any problem where you may have to pay the full deductible on any of your policies (do this while you are still getting a pay check).

At my death, I will not leave my family any large inheritance, but I won’t be leaving any debts that they would feel honor bound to pay. They will have the proceeds from the sale of my home and possessions to do as they please. They know that I wish to be cremated in a cheap wooden box (the box is required by law) and I want my ashes scattered in the ocean near where I live (remember, I wanted to live near water when I retired, and I do).

5. Finally, I want any one considering a successful retirement to make certain that they have a good car that is fully paid. Plan to take care of the car, and if you must ever buy another vehicle, face the fact that you will be looking at older model cars that you can afford to pay for in cash. In that same vein, since this is the 21st century, there are occasions when you need a credit card or a reasonable facsimile. A debit card can be used to purchase travel tickets and to secure hotel, motel and car reservations for the times you may want to travel. Yes, they do take debit cards. In this way, you become your own lending authority.

Now all good plans hit snags and you must be ready for them. In my case, the American dollar has lost value and now it is almost at parity with the Canadian dollar. Therefore, I have lost some spending money. But these things go up and down and I can weather this storm since I own my home and I have no debts. I call my friends and relatives in the States frequently but I always use a pre-paid card for this. In this way, I keep control of my telephone bill and pay the phone company only for their basic service and for the Internet connection. Needless to say, much of my correspondence with those back home is by email. I buy fewer clothes, and frequently buy from local consignment shops since I no longer need to “invest” in high price business suits, shoes or hosiery. I shop sales in the markets and buy fruits and vegetables in season. I do more home baking which I have always loved to do and now have the time to do it. I go to lower priced movie matinees and I eat out during the afternoon for the lower priced lunch specials. Actually, I don’t eat out as much as I did since I have the time to cook at home for my family and friends. I pay only for basic cable and no movie channels; after all how many times in a month can you see the same movie?

Am I happy? You bet I’m happy. Am I busy? You bet I’m busy. I’m happy because I am living well, but not high, and I am doing what I want. I am playing with my grand kids when I want. I am beginning to make some small profit on my writing which I do when I want. This extra income will be put aside this year to cover the increased costs of gasoline and heating fuel. Do I need this extra money? Not really because I could, with little changes, tighten my belt and still live comfortably. I am learning to speak French, which was something I always wanted to do and I am drawing and my house is full of my own art work. My art, which is reminiscent of Grandma Moses, may not be saleable, but I like it and hopefully my family and friends do too since they get it at Christmas. I travel taking advantage of the price savings from making my reservations on off seasons and far in advance of my planned trips.

Am I glad I’ve retired? Absolutely and if you really want to retire, you can do it too and be glad of it.

5-things-about-offshore-asset-protection-every-internet-marketer-should-know

5 Things About Offshore Asset Protection Every Internet Marketer Should Know

Writen by James Allen

Offshore instruments of asset protection no longer belong in the realm of the wealthiest individuals with high paid financial advisors. Thanks to the internet and globalization of financial markets, there are plenty of firms that can help just about anyone “go offshore”. What follows is a brief introduction to some of the most popular tools of offshore asset protection and how they can be used by online business people and internet marketers like yourself to protect and grow your business.

1. Offshore Trusts

An offshore trust is a very simple agreement that helps put some distance between you and your hard earned assets. A trust is simply a legally binding agreement between two parties - the grantor and the trustee. The grantor “grants” control over specified assest and property to the trustee, who is then responsible for them. Beneficiaries are listed in the trust, who will “benefit” from the assests being entrusted. Often this is in the form of receiving the assets upon the death of the grantor, or by receiving the profits generated by the assets listed.

The main point is that this agreement helps separate the grantor - you - from these assets in a legal sense, making it more difficult for someone to take them from you. By moving the trust offshore, there is an added layer of protection. If you’ve ever worried about a frivolous lawsuit destroying all you’ve worked for in your internet business, this is certainly a form of asset protection you’ll want to look into.

2. Offshore Incorporation

There are many benefits for the internet marketer who chooses to incorporate offshore. Protecting your privacy from the prying eyes of an ever more invasive government - especially in the area of online information, legally limiting the amount of taxes you pay on your online income, and protecting your business against lawsuits are just a few of the ways an offshore corporation or IBC can benefit the internet marketer.

Properly planned and executed, forming an offshore corporation need not be any more expensive or time consuming than forming a corporation within your own borders. Be sure to deal with a legitimate and established firm when establishing your IBC, make sure your asset protection needs are being met and that all of your questions are answered.

3. Offshore Bank Accounts

Again, keeping with the theme of protecting the internet marketer’s wealth from both lawsuits and privacy invasion, the offshore bank account will also help address these issues.

Most companies that offer offshore incorporation will also help you set up an offshore bank account. Choose a country where information privacy laws are respected and enforced, and preferably keep the account in non-US funds. The acccounts are usually offered with an international debit card, so you can access your funds from ATMs around the globe.

4. Offshore Merchant Accounts

Of particular interest to those who create their income online is the option of establishing an offshore merchant account for handling all of your credit card transactions.

Besides addressing privacy issues, an offshore merchant account may be more suitable for those offering items, information, or subscriptions for sale online that are more difficult to procure a domestic merchant account for. These include higher risk services such as you might find in the adult website or online gambling arenas.

5. Offshore Webhosting

Although often considered home to the worst internet has to offer, such as spammers and hackers, offshore webhosting certainly has its place for legitimate online marketers and should not be dismissed outright.

Few would disagree that new internet laws, especially those related to spam are having an adverse affect on those it should least be harming. On top of that, the privacy invasion allowed by legislation such as the Patriot Act further increase the need for protecting your online information outside the borders of the USA.

Yes there are plenty of scam artists in the offshore webhosting arena. Do your research though, and you will find secure, well-staffed offshore webhosting operations with high-uptime, fast connections, good support and reasonable prices to suit your needs.

With all the new laws that allow for invasion of your privacy, including your financial information, combined with the fact that the USA is one of the most lawsuit prone countries in the world, every internet marketer and individual doing business online owes it to themselves to at least consider how going offshore can benefit you and your business.

Natural Hair Care

Bromelain Enzyme and the natural hair care

Bromelain is one of several compounds known as proteolytic enzymes, all of which aid in the digestion of protein. Bromelain supplements are now included in some of the natural hair care products. The plant enzyme bromelain has yet to get the hair care product recommendations. But there is more to bromelain than hair care.

The natural plant enzyme bromelain obtained from the pineapple is known to provide a number of health benefits as discussed below.

Bromelain Research

By 1891, researchers identified the proteolytic enzyme bromelain, which they found in the fleshy part of the fruit. This enzyme was discovered to break down protein, and as such, is still used to day as a natural meat tenderizer and digestive aid. By 1957, bromelain was widely recognized and research also began into such areas as muscle and tissue inflammation, burn recovery, infection, and even sinus problems.

The most recognized use for bromelain is as a digestive aid. This enzyme is commonly used in cases in which an individual’s own digestive enzymes are deficient, frequently resulting from pancreatic disorders. In such cases, bromelain supplements can relieve gastrointestinal symptoms including bloating, gas, pain and cramps from indigestion and diarrhea. Studies show that proteolytic enzymes like bromelain may also indirectly relive food allergies thought to occur from a condition called leaky gut, in which whole protein molecules from foods leak into the blood causing an allergic or immune response. Bromelain’s digestive properties are particularly enhanced when used along side other enzymes such as amylase that digests starch and lipase, necessary for fat digestion. Some laboratory studies suggest that bromelain may also be useful for reducing bad intestinal bacteria.

Bromelain is so effective at digesting protein that workers who frequently cut the fruit often lose their fingerprints to the active properties of the enzyme. As well as this fruit’s amazing digestive qualities, it is also an excellent source of vitamins A and vitamin C, a benefit the Spaniards took advantage of on their many extended trips out to sea.

The fibrous nature of pineapple however, is also known to relieve constipation, as well ancient cultures frequently used pineapples to cure jaundice and kill intestinal parasites. Ripe pineapple juice is well known as a remedy to induce menstruation and relieve painful periods. Bromelain’s photolytic properties also make this enzyme a natural blood thinner. The digestive substance in the enzyme breaks down the blood clotting protein called fibrin, which inhibits circulation and prevents tissues from effectively draining.

European studies have consistently shown that bromelain is also an excellent treatment for those recovering from sports injuries and in tissue repair necessary after surgery.

Evidence suggests that some supplemental enzymes in particular can be absorbed directly into the circulatory system in their active form where they then exhibit anti-inflammatory and pain relieving actions.

Bromelain has proven especially effective when applied directly to the skin to remove dead tissue resulting from severe burns that have reached all skin layers. These third-degree burns as they are known, are extremely susceptible to infection and swelling. The digestive properties of the bromelain cleanse the areas and remove the excess dead tissue and as well, its anti-inflammatory properties may help to reduce the pain caused by swelling. Countries such as Japan and Taiwan and in the state of Hawaii where pineapples are abundant, widely recognize bromelain as a remedy to cleanse wounds. Another interesting use for bromelain may be as a cough suppressant and nasal decongestant

Commercial Bromelain: Dosage

Commercial bromelain products for treating number of human and animal disorders are now available in the market.Health professionals suggest that while choosing a commercial a bromelain product, choose the enzyme supplement that uses a variety of other enzymes. It is best to blend enzymes with activity units at various pH levels to assure maximum effectiveness.

According to experts, in most cases, bromelain should only be taken for between 8 and10 days. There are two recognized drug reactions with bromelain. This enzyme is said to enhance antibiotics. One study shows that amoxicillin blood levels are increased when combined with bromelain. Additional studies show that the antibiotic tetracycline is better absorbed when used in conjunction with bromelain, however researchers say that further investigation is still necessary since studies in this area are conflicting.

If you are taking the herbs gingko, ginger, vitamin C or garlic or medications such as aspirin or warfarin, a common blood thinner, bromelain could potentially increase the risk of bleeding. It is therefore best to avoid this enzyme. In any case, if you are taking any type of prescription medication, it is always best to speak with a health professional prior to adding any herbs or supplements since interactions are often common.

The author is involved with the hair growth research, he is also writing on subjects like the nutrition, and http://hairlosssupplements.com/hair-growth-vitamins/hair-growth-vitamin-index.shtml nutritional diet vitamin supplements and http://www.hairlosssupplements.com/index.shtml natural hair care products and supplements to educate people so that they don’t fall an easy prey to the hordes of synthetic nutrient growth supplements advertised on internet.

[tags]hair care secrets, natural health supplements, alternative health supplements[/tags]

thinking-on-artificial-inflation

Thinking on Artificial Inflation

Writen by Lance Winslow

A quick thought on Inflation; A question has arisen in a small dialogue today of whether interest rates should be raised due to inflation? One thought, which kept coming to mind, was the delicate issues with the housing bubble. Some in the group did not believe it to be a significant factor others were worried that a rise in interest rates would be met with a big reaction in the stock market and also the housing markets in many regions in the United States?

Some of us were concerned that the inflation which was being witnessed was not due to strong consumer demand in the market place where companies are able to charge more but because of artificial wholesale inflation caused by fuel prices which was artificially driving up costs of every thing else, even though we have had a steady decline in the diesel fuel prices for five straight weeks now it has been small with the average price still at $2.00 which is high by any relative historical perspective.

When inflation exists in items which are not consumer electives but rather regarded as necessities, things like food, milk, fuel, etc. which drive prices up in the markets they effect such as restaurant prices, catering services, hotel services, private school tuition, etc. from food these are not consumer electives but perceived necessities, which also drive up costs in non-electives. Now if you take out the ‘factored in’ costs of the food or fuel for the increases and the expectations of consumers to higher prices due to this fact for instance the increased costs of fuels a 6.7% increase in cartage for good to market to offset fuel costs and let’s say that 25%-100% of that is fear factor or media hype scare to justify it. Then you could say the actual costs of the increase should have been 3.33% to 5.66% but due to the unknown nature of the impending melt down of the Saudi Arabian government and royal family and companies fearing the worst the price increase would be much higher than the actual. Both to protect the transportation company from financial ruin with low earnings next quarter and because they can raise prices due to perceived civil war in that region or further unrest as Iraq’s facets are not fully turned on yet. Such that even though for instance diesel came down this week by 1.1% in line with a steady over all average decrease from the high of five weeks the prior, would make little difference and although the most competitive companies in shipping will be lowering rates others may not as to make up for lost ground by being caught off guard when reserves ran low and having to buy high at the same time the US military reserve was stock piling in case of emergency and could not afford to let go any supply to the private sector to temporarily stabilize prices.

When you look at this artificial inflation caused by oil prices you have to take this into consideration in the over all inflation situation, and allow for things to re-stabilize things before raising rates to curb so-called inflation. The inflation rates must be adjusted and taken out the inherent additional costs in everything due to the increased costs in fuel, a necessity.

So do you raise rates in times of unrest and fear and instability or do you wait for a bit and allow a few things to come back into perspective and stabilize in a free market setting. If you allow interest rates to slow the flow of monies in all parts of the country now, as many are not getting their fair share of the money flow, you will see regions come into harder times as they have not recovered like the areas of supreme money flows near and around Fed Banks. Larger cities, which suck money in and allow it to flow in circles need to be adjusted first and slowly, but not using inflation data, which is biased due to a spike in fuel. There are very few items, which are not effected by fuel. Also let’s look at water supplies and weather effecting food prices and spikes and factor that out too. Then we can find true inflation and I submit to you it is small enough to call for a stern warning of future scrutiny, but not a raise just yet, but a warning to all it will come and could come at any time as needed or required by superior data and to give the Fed back another lever to move in the future if needed to re-stimulate, because as we know when fuel prices stay high for too long we get recessions. As per historical data. As China becomes a user of more fuel, we will see demand go up and the supply play catch up and we are 10 years out for fuel cells and hybrids which can perform up to the abilities of reciprocating engines. Russian oil is seven years out, so there is a gap in supply issues and demand issues which means we will have higher prices in the future and killing the housing market now is not good as interest rates could significantly do that and cause consumers and middle class America to continue to run redline in credit card debt and higher house payments, fewer spend able dollars hurting retail, thus hurting jobs. Meaning higher fall-out rates, distressed sales and serious issues with income to long-term and short-term debt ratios.

Raise in interest rates>? Maybe?> But be careful we are not out of the woods yet. Perhaps a regional outlook might be better? Interest rates in larger growing areas could be raised slightly? For instance DC, Boston, LA, Sacramento, Metro NV, PHX, Seattle, etc. But in other areas like Albuquerque, El Paso, rural TX, KS, rural heartland, etc. no raise. But the money will crosses boundaries so it would be imperative that the Fed and the government work together on this to see that low interest small and med sized business loans get to the sub standard markets, a one size fits all is dangerous and as I travel the country I have to beg to differ with some of the information put out in the Beige Sheets, some is incorrect and inaccurate and does not paint a proper picture, the United States is the United States and not the United Countries surely, but a regional outlook and decision should be part of an interim game plan with out flipping the board over and disrupt those areas which are just seeing light at the end of the tunnel. The light is bright indeed, but certainly they should be allowed out of the cave for some fresh oxygen long enough to show their efforts were worthy of a job well done. Pursuit of happiness is best served when you can taste it and understand what it really is once in a while.

Allow parts of America that need the juice to get their filling with a stair step approach to the problems, the real issues with real inflation. We must not continue to judge inflation as it appears on the surface when the real inflation is much more agile, diverse and hidden from view. A sharp pencil approach studied by region to the dynamics of money flow is equally as important to the rise in prices due to the undercurrents of erosion returning Earth to Sea. I am sure when studied more closely you will agree. If not there is a place you can go to discuss such issues.

finding-accounting-services-in-your-area

Finding Accounting Services in Your Area

Writen by Christopher Luck

What is the best way to find accounting services in your area? Whenever I look for any service, there are certain processes I go through. Though services may vary, many of the strategies I use to find different ones are pretty much identical. The best thing you can do when seeking accounting services in your area is to do your homework. Do some research so that you know what your options are inside the scope of what exactly you want and at what price you want to get it. Finding an accounting service is really no different than finding any other service in your area. Here are some tips that may even help you do just that.

When you begin looking for an accounting service in your area, you should first figure out how far away you can afford for the provider to be. Do you plan to travel to see your accounting service provider often? If so, are you willing to travel a little farther to get a service that truly fits your needs? These are questions you should ask yourself first when considering your options for an accounting service in your vicinity. Set some geographical parameters for yourself before you even begin your search. That way, you can easily eliminate the accounting services that are too far away since you will have already defined the general distance you are willing to work with.

The next thing you may want to do is get online. On the internet you can do a search for accounting services in your area and see if any have a website. If the provider is in the area you have outlined, a website may be a sign that they care enough about their business to spend the money for a website. There, you will also be able to get information on how to contact the accounting service as well as possible pricing and business hours. All of that can come to you through a simple internet search.

The other way you can seek out an accounting service in your area is through the yellow pages. Whether you use the print or online yellow pages is up to you and your preference, but either way you should be able to find what you are looking for in your defined area. An accounting service that you find in the yellow pages will have good contact information, and in some cases, will also have a brief list of services they offer as well as hours and thorough contact information.

Finding any service in your area can be a big task, especially if it is something you don’t necessarily look for all that often. So, when you go to search for an accounting service, you should make sure you take your time and do your homework. First, define the area in which you want to search so that you do not have to travel too far. Next, check out the internet for possible accounting services in the area that may have a website you can check out. In addition, take a look in the yellow pages so that you make sure you catch everyone. Once you have followed these simple tips, you will be surprised how quickly you are able to locate the service provider you need in the area you want.

how-to-balance-your-checkbook-instantly

How To Balance Your Checkbook Instantly!

Writen by Valerie Mills

Do you cringe each month when you see your bank statement arrive online or via snail mail?

You can banish traditional checkpoint balancing forever. How? By taking advantage of your bank’s “between statements” record-keeping. It’s perfectly legit and accomplishes exactly the same goal as statement balancing, but Instant Balancing is faster and simpler.

After all, the point of checkbook balancing is to make sure your bank hasn’t made any mistakes . . . and/or that you haven’t. Either way, most people want to avoid bouncing checks or the ever-embarrassing ATM “insufficient funds” message.

HEY! WHAT ABOUT MY BANKING SOFTWARE?

You say you have software for balancing your checkpoint? Get rid of it if all it does is balancing. This software compares bank records against its records and then you have to update your written checkbook records. These activities create way too much opportunity for error.

WHAT YOU NEED FOR INSTANT BALANCING

1. Your checkbook, the written one. If you insist on keeping the balancing program, then have the program checking account ready to review also. If you only keep your transactions in your software program, make sure it’s up-to-date.

2. Internet access. A simple dialup connection works just fine. An Internet security program is a must.

3. Access to your checking account ONLINE. Why? Because you’ll need “any time” access to do Instant Balancing. If you don’t have this access, call your bank and find out how to get it. Usually, you need a web site name and a username and password.

WHEN TO DO INSTANT BALANCING

How often you Instant Balance depends on how many transactions you generate in a given time frame. The greater the number of transactions, the higher the possibility of errors.

A guideline is to Instant Balance 1 to 2 weeks after the last time you wrote a bunch of transactions, like after you’ve paid the household bills. If your timing is good, you may not have any balancing to do at all!

6 INSTANT BALANCING TIPS

1. Use a calculator for checkbook additions and subtractions. Even if you’re a math wizard, you’ll make mistakes.

2. Because you may be logging onto the internet account infrequently, you may forget your user name and password. Record the information and put it in a safe place.

3. Your bank account internet access may time out after a certain number of minutes. Just log on again.

4. Most internet banks allow you to isolate transactions between certain dates. Use this feature - it cuts down on the number of transactions to review.

5. Recent studies shows that 12% of identity theft occurs online. If you are afraid of accessing your bank transactions online because of identity theft, don’t do it. Stick with the paper statement balancing routine.

6. Instant Balancing works best when your checkbook is up to date. It will instantly become Frustrated Balancing if you left out a few key postings, like an ATM withdrawal or an automatic deposit.

HOW TO USE INSTANT BALANCING

Remember the goal - your checkbook balance must agree with the bank’s balance. The assumption is that the bank has the right number. So, the bank’s balance won’t change, but your checkbook balance might.

The steps in the next section may seem a wee bit detailed at first. But, good news - there’s 3 “you’re DONE’s” scattered throughout the steps. If you’re lucky, you’ll be finished after step 2.

As with any new process, it may take a few times before you’re comfortable with Instant Balancing. The secret to Instant Balancing is timing. If your timing is good, you’ll finish at step 4. If it’s great, you’ll finish an instant after you access your online bank balance.

INSTANT BALANCING STEPS

1. Sign onto your bank’s web site and access your checking account transactions (in date order, latest transactions first.

2. Look at the bank’s balance and then your checking account balance. If they agree, you’re DONE.

3. If they don’t agree, figure out the date you last balanced your checkbook.

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All About Arbitrage - What is Arbitrage in Financial Terms?

Writen by Mike Singh

Imagine an investment strategy that allows investors to take advantage of the difference in the price of a certain market or asset. In other words, the investor would profit from the discounted purchase and immediately resell of the product or share in a different market at a higher price. This investment strategy has been in practice since the concept of competing markets was first recognized. In today’s marketplace, this practice is known as arbitrage.

An arbitrageur seeks out assets that exhibit certain characteristics that indicate that the market (or markets) is compatible with sustaining a reasonable profit during the exchange. In order for this to happen, one of the following three circumstances must exist:

1. An asset with a reliable future-estimated price is currently trading at a lower price than its monetary value in a market with little or no risk.

2. An asset trades in one market considerably lower than it trades in another.

3. Two different assets are traded at varying prices although the cash flow for both assets is the same.

These conditions might seem a bit confusing to the everyday investor, however, arbitrage takes place daily in a number of circumstances that are fairly commonplace. For example, foreign money exchangers take advantage of the arbitrage between two currencies when they exchange one currency for another with international tourists.

Another common example of arbitrage is when an individual purchases a stock in a market where the stock is undervalued and turns around and sells the stock in a foreign market where the stock is priced higher. By doing this, the trader has generated a profit through the difference in the price of the two stocks.

Arbitrage occurs frequently in a variety of environments. Many businesses operate each day based solely upon its principle. Investors from both domestic markets as well as foreign markets have been taking advantage of arbitrage as an investment strategy since its popularity greatly increased during the 1980’s.

Private investors who are interested in becoming arbitrageurs must keep in mind that while this technique can be a very lucrative investment option, one of the key elements to turning a profit using this approach is the ability to make a decision quickly to purchase the stock or asset in question and then turn around and resell before the market has the opportunity to equalize (therefore reducing or even eliminating the profit margin between the two markets).

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Here’s How Factoring is Better than a Loan or Line of Credit

Writen by Donna Poisl

When business owners realize they have a cash flow problem and start looking for ways to solve it, the first thing they usually do is call their banker or the SBA.

The second thing they do is discover all the financial and credit information they will have to provide and how many weeks or months it will take to find out if they are approved.

Bankers decide what a business qualifies for by the value of the assets they own and can use as collateral. Many businesses don’t have many assets, therefore the loan or line of credit they qualify for is not what they need. Even a business with many assets often can not borrow as much as they need to keep everything running smoothly on a continual basis.

Funds available through factoring are actually unlimited, in the sense that they are based on how much business you do and how much you can do in the future. The assets you use as collateral are the accounts receivable you generate for goods or services you have already delivered. That means the amount you can get each month depends on the amount of work you delivered the previous month.

In order to qualify for a bank loan, you have to be in business long enough to establish good credit and show financial statements that will allow the banker to feel that you can repay the loan out of your company profits.

If you haven’t been in business very long, are in Chapter 11 or have tax liens, you wouldn’t be approved for a bank loan but you would probably qualify for factoring, if your customers are credit worthy. The most important thing a factor considers is the financial strength of your customers.

Factors need basic financial information about you and your company. Once the factors see your A/R aging report and get the names, addresses and phone numbers of your customers, they do credit checks and make the decision based on that information. They will verify that the goods or services that you invoiced were actually delivered and accepted by your customer.

The factor advances you 70%-90% of the invoice and then waits for your customer to pay. When the bill is paid, you’ll get the rest of the money except for the small fee (2%-5%) the factor charges for this service.

There are many ways you’ll make up the cost of factoring. By having your money in your own bank account almost as soon as you send the invoice, you could save more than the amount of the fee with discounts from your suppliers. When you pay on delivery, you also make your suppliers happy and get better service from them.

You’ll gain more than that by being able to go after and accept more jobs. If you know that you will be paid when you send each invoice, you will feel confident when large orders or new customers come in and won’t have to hesitate, wondering if you should accept them.

You can keep up with payroll, insurance and taxes when you don’t have to worry about when you will be paid for the jobs you do.

There will be less stress in your life too. Maybe this is the best part. Maybe it is priceless.

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