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Archive for the 'Finance' Category

Financial Planning for Retirement: For Worry-Free Retirement

Published by
Ken
at January 16, 2006 in Retirement, Finance, Business and Homeowners. 0 Comments

Retirement

Planning can be a tedious activity especially if you are planning for retirement. Many people realize how advantageous financial planning for retirement can be while others find it mysterious.

In fact, most experts say that for people who are only making enough money to make due payments in each month, then it means that they should start contemplating on how they can still make money even if they are already retired.

Surveys show that almost 75% of the American population is earning enough money to pay their monthly bills. This means that they do not have any extra money to put in a bank or in any financial institution that could provide them enough profit after their retirement.

What’s more Social Security is not enough guaranteed income for retired people to live on. Actually, it is still a big question if one’s Social Security will still exist when the retirement day comes.

Hence, it is extremely important to generate some methods that will provide an individual a reasonable amount of money in the future. This should be done regardless of how much an individual earns, the important thing is to start saving today.

1. Visualize and calculate

It is important for a person to visualize his or her own situation after retirement. Then, you can calculate how much money is needed to live on after retirement. Furthermore, people need earnings that compensate 75% of the present amount that he or she is expected to take home.

2. It is important to seek the help of a financial planner or any person competent in financial planning.

By asking for advice from the experts, you will be able to gain more knowledge know how to proceed for you situation. These people are proficient and knowledgeable in all kinds of financial planning and they can provide the most feasible and workable approach for your individual needs.

3. Get rid of loans, debts, and other financial obligations in as little time as possible.

By simply paying off all debts, loans, and other financial obligations in a shorter period of time, you can realize a substantial amount to invest for that retirement. A good financial planner will know exactly how to direct you so you can meet your retirement goals.

Keys to a Successful Presentation for Venture Capital Funding

Published by
admin
at December 3, 2005 in Finance, Business and Landscaping. 0 Comments

By Ken Krysinski

As a budding startup business owner, the opportunity to sit in on a venture capitol presentation was a gold mine of information. As a fly on the wall, I was able to objectively observe the exchange between startup business owner and venture capital investor. The following are my top 5 tips on what to do when giving your pitch to investors.

1. Be Prepared- Don’t assume that knowing your product and Powerpoint slide presentation inside and out will be enough to secure you the funding you are seeking. As the presenter, you are representing the company as the CEO, head of Accounting, Marketing and Sales, as well as Human Resources, and Product Manager/Developer. Be prepared to answer very detailed questions in any and all fields of business. VC providers are very skilled at finding your weaknesses, so do your best to minimize them.

2. Control the Meeting- Let your audience know from the start how your presentation is going to be performed. Specify in detail what you will present, and at what points you will stop for Question and Answer periods. You should not expect to run through your entire presentation from Introduction to “So when do we get the money?” without a lot of questions. Breaking after each main topic for a brief Q and A session will assure you that nobody will be left behind when you go from explaining your product to you financial expectations. It will also allow you to completely explain your product or service without being interrupted. These interruptions can quickly get you off track and you may leave realizing that you never discussed some of the key features you hold. Establishing this control and maintaining it throughout is a strong statement of your leadership ability and the cornerstone on which Venture Capitalist determine their investment in you.

3. Know Your Audience- Never assume your audience is either too dumb to understand your product or service, or too smart to be given a thorough explanation. If it is possible, find out what other investments these people are involved in. Figure out what they know about your industry. If that is not possible, start your presentation slowly by asking them questions about their knowledge of your field. You will be able to gauge how detailed you need to be in the product presentation.

4. Key Financials- Whether you are in a meeting asking for $100,000 or $10,000,000 in investment capital, it is of maximum importance that you know your key financials. Much of your presentation will be discussing the “Market Potential” and “Expected Revenue from Sales”. While these are important numbers in getting a VC’s attention, these numbers are understood to be bold predictions at best. What you really need to be well prepared for are the use of funds numbers. If you are pitching for capital, it will not be enough to say you are looking for $1,000,000. You will have to back up in detail, how that money will be spent and what the effect off it will be on your bottom line. Know and be able to support your breakeven point. (Including sales progression, and monthly burn of capital) Have a detailed spreadsheet of expenses from specific employment positions and salaries, to a breakdown of expected advertising expense by media type. The more familiar you are with these financials, the more seriously a venture capitalist will take your opportunity. If they know you have done your homework on how the business will succeed, they can focus on their belief in your product or service.

5. Attitude IS Everything- Venture Capitalists can be very aggressive and intimidating. It is their job to test your knowledge and strength, as the leader of your business. No one is going to invest their money in a leader they wouldn’t be willing to follow. Do not be affected by their tactics. You should maintain your confidence in yourself and your business. Instead of getting offended, try taking their point of view both while preparing for the meeting and at the meeting. Figure out what you would want to see in a leader if you were thinking about investing in someone and act accordingly. In the end just remember that you are the one with the opportunity. You have given your audience the chance to be a part of your success. There are many Venture Capitalists out there and only one you. If you have a truly interesting and unique product or service, you are in the drivers seat.

Ken Kryinski is the Co-Founder of startup QuoteCity.com, a contractor referral service, and writer for OpenSourceFanatic.com, a provider of information on business and utilization of public software.

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Deal Terms - The Finer Points of Venture Capital Deal Structures, Valuations, Term Sheets, Stock Options and Getting Deals Done (Inside the Minds)
QuickBooks Pro 2006 Financial Software for Small Business
The Knowing-Doing Gap: How Smart Companies Turn Knowledge into Action

Reverse Mortgages, Getting a Good Deal In 3 Easy Steps!

Published by
admin
at November 20, 2005 in Finance, Business, Homeowners and Real Estate. 0 Comments

Reverse Mortgages, Most Common Features:

Mortage deal

A reverse mortgage is a special type of loan that seniors can sometimes get to convert the equity in their homes to cash.

Many reverse mortgages offer special appeal to older adults because the loan advances, which are not taxable, generally do not affect Social Security or Medicare benefits.

Originally designed for retirees interested in keeping their homes but whose incomes aren’t sufficient to support them, reverse mortgages have typically been used to help people on low fixed incomes make ends meet, make needed home repairs or pay for large medical bills that otherwise would be unaffordable.

Depending on the plan, reverse mortgages generally allow homeowners to retain title to their homes until they permanently move, sell their home, die, or reach the end of a pre-selected loan term.

Generally, a move is considered permanent when the homeowner has not lived in the home for 12 consecutive months. So, for example, a person could live in a nursing home or other medical facility for up to 12 months before the reverse mortgage would be due.

However, be aware that:

Reverse mortgages tend to be more costly than traditional loans because they are rising-debt loans.

The interest is added to the principal loan balance each month. So, the total amount of interest owed increases significantly with time as the interest compounds.

Reverse mortgages use up all or some of the equity in a home. That leaves fewer assets for the homeowner and his or her heirs.

Lenders generally charge origination fees and closing costs; some charge servicing fees. How much is up to the lender.

Interest on reverse mortgages is not deductible on income tax returns until the loan is paid off in part or whole.

Because homeowners retain title to their home, they remain responsible for taxes, insurance, fuel, maintenance, and other housing expenses.

Getting a Good Deal.

If you decide to consider a reverse mortgage, shop around and compare terms.

Look at the:

Annual percentage rate (APR), which is the yearly cost of credit. type of interest rate. Some plans provide for fixed rate interest; others involve adjustable rates that change over the loan term based on market conditions, number of points (fees paid to the lender for the loan) and other closing costs.

Some lenders may charge steep costs, which your lender may offer to finance. However, if you agree to this, you’ll take out fewer proceeds from the loan or you’ll borrow an extra amount, which will be added to your loan balance and you’ll owe more interest at the end of the loan. Total Amount Loan Cost (TALC) rates.

The TALC rate is the projected annual average cost of a reverse mortgage, including all itemized costs.

It shows what the single all-inclusive interest rate would be if the lender could charge only interest and no fees or other costs. payment terms, including acceleration clauses.

They state when the lender can declare the entire loan due immediately. Under the federal Truth in Lending Act, lenders must disclose these terms and other information before you sign the loan.

On plans with adjustable rates, they must provide specific information about the variable rate feature.

On plans with credit lines, they must inform the applicant about appraisal or credit report charges, attorney’s fees, or other costs associated with opening and using the account.

Be sure you understand these terms and costs.

About The Author

Vincent Dail

Debt elimination programs reviewed is run by Vincent Dail. Get the debt elimination tips you need, today! To receive your free special report visit: www.debt-elimination-program-reviews.com

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mortgage, real estate, finance