If you think good investment advice is only for the rich, you're not alone. Nearly two-thirds (65 percent) of investing Americans believe that those with more money are able to get better financial advice than those with less money. Further, more than a quarter (26 percent) state that it takes at least $100,000 to get top-quality financial advice. This is according to a new survey by the Retirement Corporation of America, which also finds that more than half (56 percent) of investors believe that financial advisors lose credibility when they accept fees or commissions.
Given the above perceptions, it is not surprising that 53 percent rely on themselves or turn to family and friends when it is time to make investment decisions rather than seek professional advice. However, changing investment funds is easier said than done for investors. The survey finds that nearly a third (31 percent) are willing to wait from one to five years before they move their money from a poorly performing option to a better one. The factor that makes it most difficult for investors when contemplating change is the scarcity of time to conduct adequate research, as cited by a third of respondents. This is followed by 20 percent who state that they are confused by all the available options and 16 percent who are afraid of making the wrong decisions.
The Retirement Corporation of America conducted this survey to better understand why consumers stay invested in poor-performing mutual funds. Their newly launched investment opportunity-Money Masters Investment Portfolio-is the first to offer unbiased advice and access to top-performing investment funds for every American.
Taking The Guesswork Out
The good news for confused American investors is the new registered investment advisory account (the "R" Account), offered through the Retirement Corporation of America, with no minimum account balance, commissions, transaction fees or exit penalties. It allows investors to access a fully managed Money Masters Investment Portfolio containing 15 of the world's top-performing mutual fund managers-the "Money Masters." The Money Masters are the top 10 stock fund and top five bond fund managers chosen from more than 8,000 fund managers who meet very strict selection criteria.
How It Works
When an investor opens an "R" Account, Retirement Corporation of America advisors determine the individual's objectives and risk tolerance. Based on that profile, a Money Masters Investment Portfolio is created to best suit the individual investor's needs.
For more information you can go to http://www.moneymasters.com
March 17, 2009
March 15, 2009
3 Reasons Why Sales Professionals Need A Life Coach
No matter how well you’re doing in your sales career, I guarantee that a life coach can help you rise to an even greater level of success – a life coach could probably even double your income this year alone. That may sound like a bold statement, but I’ve seen results exactly that dramatic time and time again. So, if you’ve never heard of a life coach, or are familiar with the concept but aren’t really sure how they can help you grow as a sales professional, let me fill you in.
A life coach specializes in inspiring you to go beyond the ordinary, to raise your standards and definition of success to a level that you’re truly capable of reaching. Most people will never achieve what they’re truly capable of, simply because they haven’t formed the right partnership to make it happen. A life coach is exactly that – a true partner in your success.
Here are three more concrete reasons why all sales professionals should consider teaming up with a life coach:
1. A life coach not only celebrates your victories, but helps you learn from your setbacks. Let’s face it, in sales we have to get used to rejection. But how you use and learn from that rejection is a major determining factor in how successful you can be. A talented life coach helps put perspective on your successes and failures, so you can benefit from both.
2. A life coach doesn’t judge you. I’m not saying that all you’ll ever hear from a life coach is a rosy picture of where you’re headed. That wouldn’t be fair and it’s not the way I handle my clients. But what a life coach should do is listen to what you’re saying without sitting in judgment, and without over-analyzing you.
3. A life coach gets to know your values, passion and life-purpose …and holds you to them. It’s easy to get sidetracked, to lose sight of what’s truly important for your life and career. A life coach’s job is to help you maintain your focus so that you don’t get sidetracked. Simply keeping you working towards your ultimate goal is one of the most powerful services a life coach can provide. Take advantage of it.
A life coach specializes in inspiring you to go beyond the ordinary, to raise your standards and definition of success to a level that you’re truly capable of reaching. Most people will never achieve what they’re truly capable of, simply because they haven’t formed the right partnership to make it happen. A life coach is exactly that – a true partner in your success.
Here are three more concrete reasons why all sales professionals should consider teaming up with a life coach:
1. A life coach not only celebrates your victories, but helps you learn from your setbacks. Let’s face it, in sales we have to get used to rejection. But how you use and learn from that rejection is a major determining factor in how successful you can be. A talented life coach helps put perspective on your successes and failures, so you can benefit from both.
2. A life coach doesn’t judge you. I’m not saying that all you’ll ever hear from a life coach is a rosy picture of where you’re headed. That wouldn’t be fair and it’s not the way I handle my clients. But what a life coach should do is listen to what you’re saying without sitting in judgment, and without over-analyzing you.
3. A life coach gets to know your values, passion and life-purpose …and holds you to them. It’s easy to get sidetracked, to lose sight of what’s truly important for your life and career. A life coach’s job is to help you maintain your focus so that you don’t get sidetracked. Simply keeping you working towards your ultimate goal is one of the most powerful services a life coach can provide. Take advantage of it.
10 Ways To Reduce Tax Burden For Your Small Business
Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small business of your own you must up date your knowledge of tax laws that pertain to “small businesses.” As a business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running the business in the most beneficial way.
Did you know that:
1. According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.
2. Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.
3. Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away. However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.
4. Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.
5. Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.
6. Include expenses of business related travel in the current year.
7. Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.
8. Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.
9. Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.
10. Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.
Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.
Did you know that:
1. According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.
2. Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.
3. Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away. However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.
4. Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.
5. Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.
6. Include expenses of business related travel in the current year.
7. Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.
8. Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.
9. Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.
10. Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.
Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.
March 13, 2009
Do You Really Need to Buy A New Car?
In our society today is common
practice to change cars every three to five years. People keep on
switching to new car for no reason. Changing cars has become a way
for people to express and show their status. Every year there are so
many new car models coming up. So they keep on changing the car
whenever they saw some new models that they like.
I have heard people saying this: “Since I need to pay for my installment every month, then why don’t I switch to a better new car?” It seems like paying car installment has become part of people’s routine life where if they don’t pay for the installment, they don’t know what to do with the money. Maybe people have forgotten that they don’t have to pay for car installment if they don’t want to.
I know that I may offend a lot of people by saying that buying a new car is not necessary. I am not saying that the purchase of a car is not necessary and that the replacement of a car that is no longer fitting the initial needs of the family is a luxury. What I do ask is that next time when you get the itch to buy a new car to be honest and ask yourself; Is it necessary? Do you want to buy it because you need it? Or you want to buy it simply because you wanted to show off to your friends your new toy? Do you buy the car to boost up your ego? If you answered yes to any of these questions, then you may want to reconsider the purchase of the car.
Consider the amount of money saved per month and what you could do to improve your family's wealth, like paying extra toward the house loan. This way you can finish your house loan faster, increase your equity and reduce the interest. Also, you can use the extra money to eliminate/reduce your high interest credit cards. Another option is to use the extra money to do some investment. These different use of the extra money saved by not rushing to buy a new car will improve your financial situation.
I have heard people saying this: “Since I need to pay for my installment every month, then why don’t I switch to a better new car?” It seems like paying car installment has become part of people’s routine life where if they don’t pay for the installment, they don’t know what to do with the money. Maybe people have forgotten that they don’t have to pay for car installment if they don’t want to.
I know that I may offend a lot of people by saying that buying a new car is not necessary. I am not saying that the purchase of a car is not necessary and that the replacement of a car that is no longer fitting the initial needs of the family is a luxury. What I do ask is that next time when you get the itch to buy a new car to be honest and ask yourself; Is it necessary? Do you want to buy it because you need it? Or you want to buy it simply because you wanted to show off to your friends your new toy? Do you buy the car to boost up your ego? If you answered yes to any of these questions, then you may want to reconsider the purchase of the car.
Consider the amount of money saved per month and what you could do to improve your family's wealth, like paying extra toward the house loan. This way you can finish your house loan faster, increase your equity and reduce the interest. Also, you can use the extra money to eliminate/reduce your high interest credit cards. Another option is to use the extra money to do some investment. These different use of the extra money saved by not rushing to buy a new car will improve your financial situation.
March 12, 2009
What makes successful people successful?
Right now, think of someone that you know personally who is successful. Can you see their face in your mind? Good. Now ask yourself this question, “Does this person have a successful routine or set of habits that makes them successful?” I would be shocked if they didn’t.
Sometimes the only difference between being successful and being average is having successful habits. Some examples of successful habits could be getting up earlier, doing things when they need to be done, being prepared, or effective time management.
So how do you start to build these success habits in your life? Here are 4 tips on creating successful habits.
1. Identify – Find the areas in your life that need changing. Write down these new habits that need to be formed. Don’t become overwhelmed at trying to figure out how you are going to form all of these habits.
2. Pick 2 – Most people sabotage themselves by trying to change everything at once. Instead, pick one major and one minor habit that you want to form. For the next 30-90 days these will be the success habits that you will create.
3. Start small – Now that you have your two success habits, create a daily or weekly routine that is easy to follow. For instance, let’s say that you want to wake up an hour earlier so that you can get more successful things done. Instead of setting your alarm an hour earlier right at the beginning, only set it 2-5 minutes earlier every morning until you reach your goal. This way it would take you 30 days or 12 days respectively to create your success habit.
Remember, the best way to eat an elephant is one bite at a time.
4. Repeat – Once you have created your new habits move on to the next 2 success habits that you want to create. Before you know it you will have created a whole new life full of success filled habits.
Just imagine where you will be in one year if you follow these four keys to creating successful habits. If it takes you only 60 days to create 2 habits, you will have created 12 success habits in just one year!
March 6, 2009
What have you got to lose by reading one more motivational article?
There are a variety of self improvement articles available nowadays. You may be thinking that this is one of those, obviously. What have you got to lose by reading one more self improvement article?
When you come the 40-year stage in your life, you will suddenly realize many things. You get to ask yourself questions. How will it be when I get to the end of my life? How do I feel about the life I lived? Then someone gave you some self improvement articles or books while telling you that it is not yet too late. Does that mean anything to you? You bet it does. The feeling of anxiety that will come next is just normal. Then you will feel confused because life had felt so good. You were happy, had a successful marriage, two wonderful kids, and a job you reasonably enjoyed. What was my problem? It was your class ceiling. The “practical” and fear-based side that had convinced you all along that your passion and dreams had died.
Here are top ten shifts in perspective that can help you move your life to the next level. This self improvement article will assist you in breaking through your own glass ceiling to create the life you really want.
1. Give yourself permission to dream. You probably had no problem dreaming as a kid. What happened to your ability to imagine and dream about what you want and who you want to be? When was the last time you caught yourself daydreaming and appreciated it?
2. Stop looking outside yourself for happiness. Look inside. Increase your self-awareness. Get curious about who you are at the core. Cultivate and nurture a relationship with yourself.
3. Cover the basics. Take the time to address your personal needs. How can you focus on thriving in your life if you are in survival mode? Set up that meeting with a financial advisor, get your space organized, clean up the details that are wasting your energy.
4. Embrace your past and move on. Shift from “why it happened” to what I want to do about it now. Asking “why” is not a very empowering question. Asking what or how I want to proceed can be much more powerful and produce forward movement.
5. Remember that you are not alone. It is easy to feel overwhelmed with life. Seek support at church, family and friends. Read more self improvement articles and books. They might help you figure about some things that are puzzling you.
6. Count your blessings. What is working right in you life? Make a list. Set aside a bit of time everyday to acknowledge what or who you are grateful for. The more you practice gratitude, the more you attract into your life things to be grateful for.
7. Court your passion. You still have your passions though it has been a while since you may have felt it flow. When are you the most alive and joyful in your life? Who do you most admire and what do they inspire in you?
8. Take action and take a risk!. All the inspiration in the world is not enough to make you move your life to the next level. It takes inspired action to do that.
9. Keep breathing. You probably forget to take deep full breaths. We have all learned to constrict our breathing in response to stress. According to many self improvement articles, we not only need oxygen to stay alive, we need oxygen to give us energy and keep us healthy. Right now take 5 deep, full breaths.
10. Have fun. Call a friend, take a bubble bath, take yourself to an art museum or schedule a whole day out in nature. Put on some great music and dance till you drop.
And you thought this was just one of those self improvement articles.
When you come the 40-year stage in your life, you will suddenly realize many things. You get to ask yourself questions. How will it be when I get to the end of my life? How do I feel about the life I lived? Then someone gave you some self improvement articles or books while telling you that it is not yet too late. Does that mean anything to you? You bet it does. The feeling of anxiety that will come next is just normal. Then you will feel confused because life had felt so good. You were happy, had a successful marriage, two wonderful kids, and a job you reasonably enjoyed. What was my problem? It was your class ceiling. The “practical” and fear-based side that had convinced you all along that your passion and dreams had died.
Here are top ten shifts in perspective that can help you move your life to the next level. This self improvement article will assist you in breaking through your own glass ceiling to create the life you really want.
1. Give yourself permission to dream. You probably had no problem dreaming as a kid. What happened to your ability to imagine and dream about what you want and who you want to be? When was the last time you caught yourself daydreaming and appreciated it?
2. Stop looking outside yourself for happiness. Look inside. Increase your self-awareness. Get curious about who you are at the core. Cultivate and nurture a relationship with yourself.
3. Cover the basics. Take the time to address your personal needs. How can you focus on thriving in your life if you are in survival mode? Set up that meeting with a financial advisor, get your space organized, clean up the details that are wasting your energy.
4. Embrace your past and move on. Shift from “why it happened” to what I want to do about it now. Asking “why” is not a very empowering question. Asking what or how I want to proceed can be much more powerful and produce forward movement.
5. Remember that you are not alone. It is easy to feel overwhelmed with life. Seek support at church, family and friends. Read more self improvement articles and books. They might help you figure about some things that are puzzling you.
6. Count your blessings. What is working right in you life? Make a list. Set aside a bit of time everyday to acknowledge what or who you are grateful for. The more you practice gratitude, the more you attract into your life things to be grateful for.
7. Court your passion. You still have your passions though it has been a while since you may have felt it flow. When are you the most alive and joyful in your life? Who do you most admire and what do they inspire in you?
8. Take action and take a risk!. All the inspiration in the world is not enough to make you move your life to the next level. It takes inspired action to do that.
9. Keep breathing. You probably forget to take deep full breaths. We have all learned to constrict our breathing in response to stress. According to many self improvement articles, we not only need oxygen to stay alive, we need oxygen to give us energy and keep us healthy. Right now take 5 deep, full breaths.
10. Have fun. Call a friend, take a bubble bath, take yourself to an art museum or schedule a whole day out in nature. Put on some great music and dance till you drop.
And you thought this was just one of those self improvement articles.
March 4, 2009
Develop a Success Attitude
One of the most common causes of failure is the habit of quitting when one is overtaken by temporary failure. If you are making the mistake of reading the newspapers or watching the news you are probably being bombarded by all of the negative news about the economy, instead of focusing on the opportunities available.
Here are a couple of suggestions and/or insights on how to keep a winner’s attitude during these difficult times:
Here are a couple of suggestions and/or insights on how to keep a winner’s attitude during these difficult times:
- Start controlling your thoughts and monitoring your self talk. Remember that riches start with a state of mind. But more importantly, remember that with God everything is possible.
- One of the main weaknesses of mankind is the average man’s familiarity with the word “impossible”. He knows all of the rules which will not work and knows all of the things that cannot be done. You need to get rid off these people from your life or limit your exposure to them.
- Success comes to those who become “Success Conscious”. The same way failure comes to those who allow themselves to become “failure conscious”.
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