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ACT to foster happiness, peace, prosperity, and tolerance in the Middle East
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This list of financial tips, investing ideas, retirement planning guides will be updated routinely. Please contact me and send me your tips to help the site visitors assure a better financial future.
Educate yourself about FOREX / Foreign Currency Trading. Currency trading is the biggest financial market in the world. Learn Forex terms and usages. Learn how to read Forex charts and tickers. Familiarize yourself with Forex Software. Follow the financial news and make sure you understand the association between the news and the currency exchange rates. Invest a minor part of your assets in this exciting field. The rates for the Dollar vs. the Euro or the Yen or other currencies fluctuates by the minute. Remember that the leverage and the gap between the selling price and buying price differ depending on the company, therefore it is best to check different brokers before you commit to one
. There are many Forex training sites and brokers on the web, some are of bad quality, be careful what to choose.
Invest in precious metals such as gold and platinum. The price of gold in late 2005 has exceeded $500 per ounce. With more demand from countries with strong economic growth such as China and India, expect the price increasing trend to continue.
Online financial products are practical to open a brokerage account with a reputable online stock or options trading company. There are plenty of good online financial products and services available online from companies like E*Trade, American Express, TD Waterhouse, The Vanguard Group, Schwab, Sharebuilder, Fidelity, GorillaTrades .... Remember to trade and invest wisely. Check which discount broker for the NYSE, NASDAQ, and OTC equities, mutual funds, money markets, and IRA has the best rates on commissions and which offer higher margin.
Diversity your investments. Try investing in stocks, options, mutual funds, bonds, money markets. Invest in Equity Income Fund which pay you above average dividends from well established companies. Also invest in different fields, biotechnology, transportation, food, defense, financial... Make sure you keep an eye on initial public offerings (IPO's) in the growing and promising fields such as companies in the nanotechnology and broadband over power lines or BPL. Moreover, make sure that portfolio contains investments in each of these sectors: specialty stocks, international stocks, small-cap stocks, midcap stocks, large-cap stocks, cash, high-yield bonds, long term bonds, intermediate-term bonds, and short-term bonds. Invest in international stocks in countries that are growing fast. Consider China for example, and research solid investments in high growth fields.
Make sure you save for your retirement. Check with your employer and invest in 401K or a thrift saving plan that is right for you. Consult with your financial advisor about the best plans. Discuss with him or her what kind of annuity is best for your retirement planning: Fixed-Income Annuity or Variable-Income Annuity.
Maintain a great credit in order to obtain low interest loans for your next home or car. Low interest credit cards can save you big on the long run.
Before a publicly traded company releases its earnings report, numbers circulate about the actual numbers. The Wall Street analysts project some expectations. Other numbers are called the whisper numbers and they are derived from an average of investors' expectations regarding earnings for the corresponding company. When the whisper number exceeds the estimate and the earnings report proof this to be valid, the result is most likely to be an increase in the value of the stock. So, research the resources that would provide you with the whisper numbers and compare with the earnings.
Insure yourself, your beloved, and your valuables. Insure yourself, your family, your home, your car..... Know well what is covered and what is not. Many many homeowners in Louisiana and Mississippi found out that their home insurance policy doesn't cover flood damage after Hurricane Katrina in 2005. The best approach is to ask the insurance agent what is not covered by your policy and then take a wise decision.
Pay off high interest loans as soon as you can. Also remember that transferring balances to other low interest credit cards can safe you money, however, the best solution is to pay them off as soon as possible. Having balances transferred from one credit card over a long period of time to other will affect your FICO score. Best to pay them off.
Buy a home. Interest paid on home mortgage is tax deductible. Moreover, real estate property or equity value mostly increases with time. Plenty of mortgages' resources are available online including great mortgage calculators. When I moved to the San Francisco Bay area in California, I was stunned by the housing prices. It was interesting to know that the prices were on the up trend for years. Those who invested by buying homes in this area have made plenty of money. I became aware of people taking interest only mortgage and they still made and saved money in the end. They made the money by the growth in equity and they saved more money by deducting the interest from their taxes. Also, consider buying investment property or your dream home near the headquarters of great and growing companies. Take Google for example, I am sure you are aware of its outreach and growth; just take a look at its stock, GOOG, to see the strength. Properties near Googolplex in Mountain View and Palo Alto will most likely continue growing in value as Google and other tech companies in the Silicon Valley hire more and more people. Take note that some cities, like Mountain View, wants you stay in your property a year before selling it. I hope that this site visitors, especially those with money to invest like some of the site visitors from the oil-rich countries, would look into this suggestion.
Check if you can take the option of bi-weekly mortgage. Call your lender and choose to pay your mortgage payment every two weeks instead of every month. This way it will take you about 25 years to pay off your 30 years mortgage. If the bank charge you no fees for choosing this option or little fees, it will pay in the long run to take the bi-weekly mortgage.
Save on your electric bill by unplugging items which you won't use for a long time especially when you travel. You can also save on heating and cooling by planting trees near your home. Discuss this option with your landscaper.
Try franchising: Every now and then "Entrepreneur" magazine posts the best franchises in the U.S. Consider starting one. Some even requires low start up capital.
Save a portion of your income always. Always make sure your money is working for you. You can utilize again online banking. Check out ING for great saving rates:
Try offshore investing. You can save big on capital gain taxes. Whatever you see on movies about some investors saving a portion of their wealth in places like the Cayman Islands or Switzerland reflect reality.
Maintain financial privacy. Keep track of your transactions.
Invest and trade wisely. Do not trade money you can not afford to loose.
Shop smart! Do some research online about the product you want to buy. Choose a time when there are sales and discounts at major stores e.g.: Day after Thanksgiving and around Christmas. Consider shopping online for your gifts and essential items.
Think Saving always. You know, those who you see jogging but in good shape, are in good shape because they jog! Likewise, most millionaires reached the level of financial stability by practicing prudence. Take an example of trying to buy an airline ticket in the last moment, you might be surprised to find out that you can negotiate a big discount instead of paying more in the last minute. The airline is interested in selling as many seats as possible even if it means discounting the prices. You have to keep the saving idea in your mind always.
Think about changing your career: You might be able to excel in different fields in a way that would assure financial stability and security.
Shop Wholesale: Enroll in wholesale discount stores such as COSTCO and Sam's Club. For example, you will end up saving much more than the annual fee of $49 dollars to enroll. On the negative side, wholesale stores like COSTCO might not accept all popular methods of payments. At COSTCO it is mostly cash or American Express.
Don't waste money on high end items: Some designers' jewelry and products are awfully expensive. Ask yourself if it is worth it really. Consider buying something more beneficial and more practical. The best gift is the most thoughtful one nevertheless.
Invest in the alternative energy sector. There is a political and popular push to reduce reliance on foreign oil and to reduce carbon emissions into the atmosphere. Take the state of California for example which recently passed a law to reduce greenhouse gas emissions. Investing in ethanol, solar power, hydrogen based energy.... seem to be the logical and profitable way to take.
If you have enough money to invest and have a unique taste, consider buying investment-grade gems and artwork. Such gems could grow in value rapidly.
Participate in specific tradeshows, conferences and/or conventions: When you participate you will become educated about the latest and the most advanced technologies to hit the market. Take for example, I have learned plenty from attending the Learning Annex in San Francisco and from the suggestions and tips from the financial experts who included Donald Trump and Suze Orman who shared their road map and fast path to wealth. I have also learned greatly from attending conventions where the pharmaceuticals companies participated. Usually, they present their latest and you can get clear ideas from the agents about where their drugs are heading and the status of the FDA approvals for their new drugs. You can then invest wisely. Oh and by the way, the goodies you get from some conferences are worth it. Some companies give away promotional products like pens, pads, backpacks, office products .... for free.
Make sure you account for the tax deductions. Having your expenses and all deductions organized will save you great amount of money during the tax season.
Try to improve your own personal portfolio: Diversify your own knowledge, skills, and abilities. Get higher degrees. Work on improving your own communication skills as this is imperative to success. I, myself, have joined Toastmasters International to improve my public speaking skills and I can say that I am improving with every meeting.
Analyze financial newspapers such as the Wall Street Journal and Investor's Business Daily for the corporate dividend news, international government bonds, high yield bonds, futures, mutual funds, corporate earnings reports, ...stocks news. Actually, specialized media has a wealth of information for those who know how to benefit from it.
Remember, if you follow these suggestions, you are doing so under your responsibility. These are advices from my own experience and might not apply to your situation. Your financial advisor along with your investment experience and knowledge can lead you to better outcome.
