The career of a financial planner is considered to be a very lucrative one and attracts many youngsters these days. The salary range largely depends on educational qualification and other finance related talents.
The trend of seeking advice for personal budgeting, managing expenses, and getting suggestions regarding big ticket investments has been on the rise for years. Hence, due to the increasing demand for sound investing and financial planning advice, the job market for professionals such as these is booming. They advise clients on their investments in real estate, bonds, stocks, etc., and have a thorough knowledge on the various instruments of investment. They also play a crucial role in activities such as corporate takeovers, mergers, and acquisitions, and can have individual as well as corporate clients.
To develop a career in this domain, you need to choose subjects such as mathematics, statistics, or economics in high school. Obtaining a bachelor’s and master’s degree in the field of finance, accounting, or management can help you launch a successful career as a financial planner. Further, you need to obtain related certifications by
Anybody can earn money, it’s the savings and investments that count, an adage that rings true in these times of economic unrest and uncertainty. Careful investments can go a long way in securing ones future, after all, whether we call them stocks, bonds, term deposits or even simple savings accounts, a comfortable retirement is the ultimate goal of all personal finance. For the employed, investment often means putting away money for a rainy day, in stocks or funds which can be counted on, during times of economic downturn or personal requirements. Yet, for an amateur investor, just beginning his journey into the realms of finance, it may be a challenge to manage his resources according to his investment goals. Before we start discussing some investment channels, it would be prudent to glance at some tips for sensible investing.
Tips for Intelligent Investing
Goal – Setting
Goals can be short or long term, your eye may be on a beautiful Porsche in a dealership downtown, or maybe, your aspirations are more familial and it’s a home that’s on your mind. A college loan, a formidable-looking mortgage, or even a trip to
Many a time, business owners face the problem of customers not paying up the amount for goods sold. Phone calls, reminder letters, etc., are of no use as the customer is in dire financial conditions. In such a case, you can’t wait indefinitely to receive the money; this is where debt collection comes into play. It’s a very tedious and long drawn process, especially in case of business-to-business debt. Hence, it needs to be tackled with great care, as you don’t want to lose the customer. It’s not that they don’t understand the importance of paying up, it’s just that they could be in some kind of financial trouble. Moreover, there are several laws which punish malpractices in debt collection, so you need to be careful of that as well.
For Small Businesses
Small business owners find it quite challenging to collect money from their customers. But with some preparation and homework, late payments can be minimized, besides you will also know when to refer a customer to collections. You need to communicate with these debtors effectively and work with them, in their times
The increased volatility in the markets means retail futures traders should take smaller positions and remain disciplined in their strategies.
September 16 has seen a large amount of liquidity in the markets since it is triple witching day when equity options, equity futures and index options and futures contracts all expire.
Futures traders must not deviate from their original strategies even as volatility picks up, said Peter Borish, chief strategist with Quad Group, a New York-based financial firm.
“One is in the trading business to make money and are not in the business to be right,” he said. “The most important thing is to maintain your discipline.”
Making smaller trades is important, because the market does not “go straight up or straight down, particularly when volatility expands,” Borish said.
When traders have an opportunity to take a profit, they need to take advantage of the opportunity. Otherwise, “what happens to many people is you end up turning a profit or small loss into a large one,” he said.
One major mistake retail traders commit is attempting to pick the top and wanting to be right, Borish said.
“It happens to many
Joint credit isn’t something married couples have to dive into automatically. It should be considered as seriously as your marriage itself.
It doesn’t matter if you’re a platinum card holder with a credit score in the 800s or an infrequent bill payer who can’t buy a car without a co-signer. Your previous credit history doesn’t make one bit of difference to your partner’s credit… until you apply for credit jointly.
“Money and love don’t always mix,” says Anthony D. Criscuolo, certified financial planner with Palisades Hudson Financial Group in Fort Lauderdale, Fla. “When getting married, often one of the most difficult issues is the merging of a couple’s finances. This is especially true if one or both spouses have a lot of debt or past debt that was handled poorly.”
Since your credit reports are attached to your Social Security number, your partner doesn’t get them or your credit history. Even if you or your partner change your names, the Social Security numbers stay the same… only with an alias attached to your original name.
“Only debts and accounts that you open jointly will be tracked on both of your credit histories, and still
We understand that all you want to do during this year of elections, Brexit, terror attacks and other global upheaval is panic.
We won’t say don’t, but at least try not to.
At few points in recent history has “world on fire” been as popular a search topic as it is now. The U.S. presidential is approaching, and this year we’ve dealt with a faltering Chinese economy, the United Nations stepping away from the European Union, Turkey in disarray, terrorist attacks throughout the globe, a virus-and-scandal-plagued Summer Olympics in Brazil and… oh yes, your finances. How, exactly, is an investor supposed to cope with a world that increasingly resembles a 24-hour news network’s “breaking news” ticker?
With resignation. Nigel Green, founder and chief executive of the U.K.-based deVere Group, notes that his home nation’s turmoil is only the beginning. He predicts that not only are we not going to be on stable ground for a while, but that investors may need to get used to that reality.
“With the new finance minister, Philip Hammond, flagging a possible six-year renegotiation period, with ground breaking decisions being made by the U.K. and the EU, and with
According to Sallie Mae, high school seniors are “all in” on continuing their education at a higher level. The education financial company says 83% of college students and parents “strongly agreed that higher education is an investment in the future, college is needed now more than ever (70%), and the path to earning more money (69%).”
Paying for college has also become something of a balancing act. Sallie Mae says students pay for 30% of college bills while their parents cover 37%, with scholarships, grants and direct college aid covering the rest.So college expenses are something parents and high school seniors should handle together.”Students and parents should weigh the cost and affordability of college as a family,” says Charlie Rocha, senior vice president at Sallie Mae. “There are a number of options available, and it’s important that they do their homework together in order to best realize their return on the educational investment.”Unfortunately, not many families take the ‘team’ approach. Sallie Mae says only 25% of families shared decision-making responsibilities on college financing, and only 15% collaborated on where the student will ultimately go to college.But not only should students and families act together, they should act
If you’re stuck driving a gas-guzzling SUV, you may find yourself eyeing the fuel-efficient Toyota ( TM) Prius, or maybe the Mercedes-Benz ( DAI) Smart Car.
You’re not alone.The price of oil has passed the $120 mark, and many industry analysts believe that consumers will soon be paying $4 a gallon for gas. Many Americans are considering shifting away from big gas-guzzlers to smaller cars that won’t have as big an impact on their wallets.The economic slowdown has hurt car sales, with sales of trucks and SUVs suffering much worse than sales of more efficient small cars. General Motors ( GM) reported in April that its first-quarter truck deliveries were down 15% in 2007 compared to a 6% drop in car deliveries.Chrysler reported a similar trend in April, with a 22% decline in truck sales, year to date, although their car sales were up 6% over the same period.Before you decide to swap your gas-guzzler for a small car to reduce your fuel bills, consider how the trade will affect your finances in other ways.If you bought a new car just a few years ago, you may be stuck with an upside-down loan — that is, you
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Here are five things you must know for Monday, Sept. 19:
1. — U.S. stock futures were pointing to a higher start for Wall Street on Monday asoil prices rallied after Venezuelan President Nicolas Maduro said a deal between OPEC and non-OPEC countries to curb output was close.
Maduro said officials held a long meeting with Iranian President Hassan Rouhani, who over the weekend was quoted as saying he supports any move to stabilize the oil market.
West Texas intermediate crude oil rose 1.6% to $43.72 a barrel in early trading Monday.
European stocks gained Monday following Asian markets higher.
The economic calendar in the U.S. Monday includes the NAHB Housing Market Index for September at 10 a.m. EDT, and Tuesday begins a two-day meeting of theFederal Reserve, where the central bank is forecast to keep interest rates steady.
2. — Canada’s autoworkers’ union Unifor and General Motors (GM) made little progress resolving the key issue of new investment in contract talks
Deutsche Bank (DB) , which buttressed its balance sheet last year by securitizing at least $11 billion of loans, is employing the tactic again as the lender grapples with rising investor concern about its capital adequacy.
The move would reduce risks and improve the largest German lender’s financial picture as it negotiates with U.S. regulators who proposed a $14 billion settlement of probes into mortgage-backed securities, people with knowledge of the matter said.
The deal, under the same program the bank used to securitize $5.5 billion in loans in June 2015 but for a smaller amount, is set to close next week, in time for inclusion in the German lender’s third-quarter results, said the people, who asked not to be identified because the transaction is private. Capital is the buffer of extra assets that banks are required to keep to protect depositors from losses and prevent the need for government bailouts.
While Deutsche Bank says in its annual report that such efforts are a part of routine risk-management operations, next week’s deal would be the first such transaction this year, one person said, in an indication that the lender is deploying all available means to bolster capital shy of a new equity offering. The overall
Before you stand at the altar, it is important to know where you stand financially as a couple. You aren’t just joining together your hopes and dreams, but also combining your money habits, spending patterns and even past debt.As both the average marriage age and student debt loads rise, it is likely at least one partner will enter the marriage with significant debt. The average student loan debt is now more than $25,000, and the average credit card debt is almost $5,000 per borrower. These debts can cause significant stress on a new marriage. Revealing all debts early can ease the stress, and help the new couple start paying it down as soon as possible.
Getting married does not automatically make you responsible for debts incurred by your spouse before the marriage. Your partner’s debt will only show up on your credit history once you are added to the accounts. However, the debt will still affect you when it comes to your household’s income since there will be a lot less money to save, pay other bills or spend in ways that are much more enjoyable than debt payments.Here are 10 financial tips for newlyweds:
One of the most difficult parts of business is negotiating. It’s a skill that we develop from birth. That’s right! We come out of the womb with negotiating skills.
If you have any doubts, watch babies. Babies start their negotiation by screaming like some power-crazed corporate leader until they get what they want. Parents immediately start wondering whether the baby is hungry, wants to be held or has some other need, and they do whatever it takes to make their baby happy.As we get older, we negotiate with our parents over additional television time, presents, trips to the mall with our friends, allowance, baby-sitting fees and car time. Kids negotiate with friends for who gets to bat first in a baseball game, be the first to roll the dice in a board game or sleep on the top bunk at overnight camp.Once we become adults, we negotiate our employment agreements, apartment rent, business rent, bank loans, personal loans, car purchases, venture capital for new businesses and strategic partnerships. There is no end to the amount of negotiating we have to do throughout our life.To be a good negotiator, you have to do eight things:
Years later when people are moving to the more “balanced” stage of their lives, their 30s, loan repayments still are not always top of mind. When you have a robust social life, savings goals, vacation plans, rent payments and a bad Seamless orUber habit, it’s easy to forget that student loan payments should remain a financial priority.
As someone who has learned the hard way but managed to turn it around, below are five tips to help you stay on track when paying back your college debt.
1. Research the Best 401(k) Option for You
Upon landing your first job, there are a lot financial decisions to be made, including signing up for medical insurance through your employer and joining your company’s 401(k) program. Depending on your situation — your total loan balance, monthly payment, and overall income and expenses — it may make sense to hold off contributing to your 401(k). This choice isn’t for everyone as it depends on a variety of factors.
For example, it depends on your tax bracket. If you invest in your 401(k), you can often lower your tax bracket. In addition, if your employer offers a matching
Every person craves for financial stability. Nobody wants to suffer at the hands of some poor financial decision, taken either by themselves or by their financial advisers. It applies not just to individuals but also to all the firms and organizations, small and large.
In this scenario, the job of a financial adviser takes center-stage. If the financial adviser is a certified professional like a chartered financial consultant (ChFC), then our job of keeping the financial health strong becomes easier and trustworthy. Many individuals are, nowadays, opting to get certified as ChFC for better career prospects, and to have a detailed knowledge of the financial world. Before getting into the details of his salary, let’s have a look at what it means.
A chartered financial consultant is, primarily, a financial adviser armed with a vast knowledge of the financial field. They study the most comprehensive syllabus in their certification course with respect to the financial field. The American College of Bryn Mawr, Pennsylvania, confers the chartered financial consultant designation for advanced comprehensive financial planning study. Requirements include experience in the financial industry for at least three years with a bachelor’s degree.
The ChFC program includes completing seven compulsory courses on the
The lucrative world of investment banking is marked by hefty pay packages and long working hours. Careers in this field are good for qualified individuals, who can deal with high profile clients and perform exceptionally well in the core area. Despite being competitive and time intensive, this job offers an exciting lifestyle for the employees, who can bag huge incentives at the end of the day. The job profile in this field involves extensive traveling and grueling hours but provides the glimpse of a larger-than-life place, where big deals and fortunes are made overnight. It also provides an opportunity to learn the ins and outs of corporate finance and pick up analytical skills, which remain useful for the rest of an individual’s career.
The investment banks provide governments and giant corporations with investment services. These services may include buying, selling, and trading securities or managing assets. They also provide an advisory panel in the form of consultants for big clients, in order to give financial advice and investment ideas. These panels are very helpful for the clients as they suggest how to manage securities for raising finance, take-overs, and mergers and acquisitions. These banks also deal in security trading,
A lot of people think that a low credit score puts an end to property buying. But in fact there’s no need to despair if your credit score doesn’t quite cut it. If you look like a risky borrower your loan will generally cost you more. So what can you do to change that? To boost your credit score you need to pay your bills on time. That makes up 35% of your score. Decrease your credit card debt and that’s another 30%. Don’t open a load of credit accounts in a short period of time as that will count against you. If you haven’t been able to come up with a 20% down payment for your property, look into an Adjustable Rate mortgage or a Federal Housing Administration mortgage. They require smaller down payments and have lower interest rates, though you will also need to pay for private mortgage insurance each month. State and local housing agencies can offer several home affordability programs. Another option is to get your mortgage from your local community bank or credit union. They often accept lower credit scores depending on the local real estate situation. So make sure you’ve checked out
When you plan for starting and running any kind of business, along with the profit making strategies, you also need to think about what is to be done, if the business unfortunately goes into a substantial loss and there arises a need for dissolution. In such cases, liquidating a business may seem to be the last option left for disposing off the business formally and safely, without having any liabilities to be paid to the creditors.
In corporate terms, business liquidation is referred to as an exit strategy. However, the need for liquidation can even arise in a situation when the company is nearing bankruptcy or is going in heavy losses. In this process, all the company assets are sold, and the cash that is received is utilized in repaying corporate debts and liabilities of the creditors or capital providers. This debt repayment is done on the basis of priority with considering several factors. The assets that are to be sold include plant, machinery, real estate, equipment and tools, and inventory (if available).
Considerations for Liquidating a Business
It is not a process that can be thought of overnight. It needs a proper plan and considerations from all the parties involved
If you are keen for a career in finance and specifically, in the stock market, then working as a licensed stock broker can be one of the best options. It has to be noted that without proper license, indulging in broking activities is illegal. Though the requirements for a license can vary a bit from one place to another, most things required remain the same. Before we go through the education and training requirements of a licensed stock broker, let us know of their basic duties.
The job of a stock broker basically involves carrying out transactions of stocks for their retail as well as institutional clients. They earn brokerage on all buy and sell transactions which is their source of income. Most reputed stock brokers also provide good advice on investments and trading calls in the stock market which helps common investors make money. Many stock broking firms, lately, have diversified their business model by providing portfolio management/wealth management solutions to the clients. They also assist their clients while applying for initial public offerings of companies.
Get a Degree
The first step is to get your graduation/bachelor’s degree in a relevant subject. Candidates with a degree in fields such
Lawyers are professionals who are considered best for handling various types of alternative jobs. This is due to the fact that the complexity of law and its various intricacies equip the m with skills that can be used for handling various types of jobs. The depth of knowledge and expertise are some of the most important factors that helps them succeed in other fields.
Legal Writing and Publishing Houses
Being a law graduate/post-graduate, you have great option for working in magazines, publishing houses, and research institutions as law writers. wherein, you have to research and write on subject matters related to law. Being a legal writer presents a host of career opportunities for those who are willing to work full-time as legal writers. You can contribute articles for freelance websites and work on an hourly basis on specific days. You also have the option for becoming a columnist in newspapers, journals, and magazines. Various law institutes also hire legal writers and editors, and so if you have some aptitude and passion for writing, this can be a creative job, testing your knowledge and writing prowess.
Knowledge in the field of law is used in almost every sphere of