3 Risks of Investing in Annuities

USA, New Jersey, Jersey City, Close up of woman's hand putting money into jarInvesting can be scary, especially in the short term. When you retire, it’s hard to watch the value of your lifetime of savings fluctuate as financial markets bounce up and down. Fear is a powerful sales tool.

Immediate annuities are an insurance product that prevents you from losing money and offers the benefit of guaranteed payments. However, there is a catch with those guarantees. Many annuities aren’t guaranteed to keep up with inflation, so the purchasing power of those guaranteed payments could decline over time. Tying up a significant portion of your money in an annuity also takes away some of your financial options and flexibility, because you can’t always get the money back out easily. And some annuities are outright expensive.

Here are some of the issues you could face if you invest your retirement savings in an immediate annuity.

Read more

How Good is Your Employer’s 401(k)?

401k savings planBrightScope recently identified the industries with the best 401(k) plans. Which industries came out on top?

Our rating system is based on how quickly the average participant in a given 401(k) plan is going to accumulate the money we believe someone needs to retire comfortably within his or her industry. Law firms, utilities, mining companies and airlines were top scorers because they typically offer plans with low fees and some form of profit-sharing. Employees in these industries are highly educated and well paid. They tend to contribute at a higher rate than do employees in lower-ranked plans, and they let those dollars grow over time.

How can I tell if my company’s 401(k) plan isn’t up to snuff?

Read more

The Best Credit Cards for Customer Satisfaction

Row of Credit CardsLindsay bought a memory foam mattress from a store that guaranteed no interest financing for two years. Fourteen months after the purchase, interest charges surfaced on her bill.

A credit card David did not open showed up on his credit report as delinquent. The debt, which he discovered because he kept getting denied new credit, will remain on his credit history for seven years.

Joyce’s son purchased a wedding band on her credit card without her approval. When she contacted the jeweler, the store refused to do anything about it.

Read more

Future of Banking and Finance Is with BI

dynerynrtymnrtyBI tools enable meaningful use of data for banking and finance holding the key to growth of retail banking.

Look at the 2016 trends – mobile delivery, digital customer experience, payments, and authentication and advisory services. Digital disruption is in full swing having the potential to ride high with consumer expectations or be left behind.

If we take a closer look at the digital disruption APIs (application programming interfaces) are the villain of the piece, which defines how software programs can communicate with other systems through cloud computing, wireless networks, and ubiquitous mobile devices. APIs are catalysts in the deployment of IT services by exposing data to banking and finance sector.

Read more

List of Financial Courses to Make a Successful Career in Finance Background

vgdgbfgnbfdhnfhFinance industry is among those lucrative sectors that hardly get affected by recession. Whether the company is doing good business or not, it always needs a highly-qualified finance team to look after its finances and cash flow. Numerous career opportunities along with high-earned salary packages have attracted a large number of students towards taking up a financial course. The involvement of big private and international financial players has further encouraged students to make their career in financial industry.

For potential students who want to make a career in finance sector, there are number of financial courses available forth them. Inculcating right knowledge and skill can further help you to become the right candidate for finance jobs. Listed below are few financial courses that have been high-in-demand of late:

Corporate Finance
Corporate finance deals with the study of money-related decisions for businesses. Professionals having a degree in this type of financial course are expected to maximize a company’s value by making smart decisions about financing, investment and dividends. The primary goal of corporate finance is to increase company’s profits and revenue through various resources like stocks and bonds.

Read more

Two Types of Personal Financial Statement Template

abtnbytnmtyuWhether you are thinking of starting your own business or you want to loan money from the bank or a lender, it is important that you know your current financial standing. You will know how you are doing financially by filling out a personal financial statement template. Filling out correct data into the template will result in accurate financial information.

There are two basic types of personal financial statement template that you can make or you can download from the internet—balance sheet and income statement. You are probably familiar with these documents but whether you are familiar or not, you still have to know what these documents are all about.

Balance Sheet. This financial document includes information such as your assets and liabilities. Your assets are anything that you own such as real estate properties, cars, and your bank savings. The liabilities are your loans and debts such as credit card debts, payments for the car, mortgages, and so on. You have to deduct your liabilities from your assets and the amount that you will get is your net worth. This will give you an idea about where you are currently standing.

Read more

Having concrete retirement plans

AsvasarvbWhen you start working at  a job, it is obviously to provide for your family. Without a job, one cannot get sufficient cash to eke out a decent living and meet the rising daily expenses. This is where you need to further your qualifications in order to get a decent and well paid job. Now getting a good job with a plum salary package is not enough. This is because you will need to understand that you will not be working forever. Once you grow old and it is time for you to retire, your professional tenure will be over. So make sure that an individual makes sufficient retirement plans and individual retirement plans. If you have a sound amount of savings stashed away for after your retirement, that money along with your pension amount can see you through safely during your old age.

Before choosing any kind of retirement plans, you need to keep certain factors in mind. Whether it is individual retirement plans or business retirement plans, the planning has to be done carefully. The professional tax planning advice is one very important factor in the case of retirement plans. If your retirement plan scheme is not chalked out properly, there can be ample tax liabilities.  Many plans for retirement have pre tax contributions within a proper distribution. The other plans for retirement include a basis of after tax so that the withdrawals are not taxed post retirement.  Using of a good retirement calculator can help you save on your financial funds. It will ensure that you are not short of anything in your final years of life.

More on retirement plans 

Read more

What Does A Financial Planner Do?

awevbarbvwerThat’s a good question, isn’t it? Let’s say you live in Richmond, Virginia, where would you look for one of these specialists? On the internet would be a good bet or in the phone book or a recommendation from a trusted friend would be a good place to start. The next thing you need to know is that there is one that is the Fee only Financial planner In Richmond. These planners also usually include personal tax planning In Richmond as a part of their practice. The second kind is the non fee based planners, these planners work strictly on commissions they earn from products they sell you.


Search financial planner jobs

We’re going to answer all of these questions, but first, let’s start off with a seemingly simple question, why is money important to you? Of course, it’s important so you can pay the bills and go on vacation and things like that but why is it important to you? This is a great question because once you know the answer, that answer will drive every financial planning decision you make from here on. In answering this question many people find it easy to write down a list of their financial goals: Fund their retirement program, save for their children’s education, save enough money to buy a home.

Read more