Financial Ideas by Thomas

Archive for the ‘Finance tips’ Category

Only those who invest become financially prosperous. To acquire great wealth, you must be ready to take on great financial problems. Most people are financially stagnant, because they avoid financial problems. There are different categories of investors: There are those who seek problems. Some seek answers, while the third categories are those who know nothing. To become financially prosperous, begin to acquire the skills needed by business owners and investors, and seek to solve bigger problems… because inside every big problem lies huge financial opportunities.

As the global economic crisis is raging, and the U.S stock continues to fall dangerously, Warren Buffet, the Billionaire Investor, did something incredible. He started buying U.S stock, saying, “They are good investment” He equally advised other investors to buy U.S stocks. His formula for investment was: when stocks are falling, and people are selling their stock due to panic in the stock market, go ahead and buy. Warren Buffet went ahead to predict that these same U.S stocks that people are avoiding like plagues would rise again in the next seven to ten years.

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There is a simple but undeniable truth in the financial consulting and wealth planning industry that Wall Street has kept as a “dirty little secret” for years. That dirty little, and nearly always overlooked secret is THE WAY YOUR FINANCIAL ADVISOR IS PAID DIRECTLY AFFECTS THEIR FINANCIAL ADVICE TO YOU!

You want, and deserve (and consequently SHOULD EXPECT) unbiased financial advice in your best interests. But the fact is 99% of the general investing public has no idea how their financial adviser is compensated for the advice they provide. This is a tragic oversight, yet an all too common one. There are three basic compensation models for financial adviser – commissions based, fee-based, and fee-only.

Commission Based Financial Adviser – These advisers sell “loaded” or commission paying products like insurance, annuities, and loaded mutual funds. The commission your financial adviser is earning on your transaction may or may not be disclosed to you. I say “transaction” because that’s what commission based financial advisors do – they facilitate TRANSACTIONS. Once the transaction is over, you may be lucky to hear from them again because they’ve already earned the bulk of whatever commission they were going to earn.

Since these advisers are paid commissions which may or may not be disclosed, and the amounts may vary based on the insurance and investment products they sell, there is an inherent conflict of interest in the financial advice given to you and the commission these financial advisers earn. If their income is dependent on transactions and selling insurance and investment products, THEY HAVE A FINANCIAL INCENTIVE TO SELL YOU WHATEVER PAYS THEM THE HIGHEST COMMISSION! That’s not to say there aren’t some honest and ethical commission based advisers, but clearly this identifies a conflict of interest.

Fee Based Financial Ad visor – Here’s the real “dirty little secret” Wall Street doesn’t want you to know about. Wall Street (meaning the firms and organizations involved in buying, selling, or managing assets, insurance and investments) has sufficiently blurred the lines between the three ways your financial adviser may be compensated that 99% of the investing public believes that hiring a Fee-Based Financial Advisory is directly correlated with “honest, ethical and unbiased” financial advice.

Global economies are constantly fluctuating. This gives you the opportunity to play a role in a company’s performance and benefit from its profit with shares investments.

Investing in stocks through a qualified and experienced stockbroker is the best avenue because they understand the market well and have many years experience providing customers sound advice on stock investment.

It isn’t unusual to be apprehensive on your first investment. Rather, it should be an education as you learn to become involved in the market. It is also critical to have some understanding on what it means to invest in the stock market. According to Marise Cheney, owner of Learn How To Trade Shares, she says, “You could supplement your existing income, earn extra income in retirement, or with sufficient financial resources, earn a living as a professional trader.”

It is normal to feel unsure about what to invest in when placing trades. It is a big decision to make. You need to consider what kind of company you’d like to be involved with. You could invest in businesses you come across daily, banks, health care or mining. Marise suggests for newcomers of the market to start reading newspapers to familiarise yourself. “Pick some common stocks or companies perhaps one within the industry in which you work, a bank and a miner. Look for reliable articles on those companies not just within the business section, but throughout the paper.”

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Global economies are constantly fluctuating. This gives you the opportunity to play a role in a company’s performance and benefit from its profit with shares investments.

Investing in stocks through a qualified and experienced stockbroker is the best avenue because they understand the market well and have many years experience providing customers sound advice on stock investment.

It isn’t unusual to be apprehensive on your first investment. Rather, it should be an education as you learn to become involved in the market. It is also critical to have some understanding on what it means to invest in the stock market. According to Marise Cheney, owner of Learn How To Trade Shares, she says, “You could supplement your existing income, earn extra income in retirement, or with sufficient financial resources, earn a living as a professional trader.”

It is normal to feel unsure about what to invest in when placing trades. It is a big decision to make. You need to consider what kind of company you’d like to be involved with. You could invest in businesses you come across daily, banks, health care or mining. Marise suggests for newcomers of the market to start reading newspapers to familiarise yourself. “Pick some common stocks or companies perhaps one within the industry in which you work, a bank and a miner. Look for reliable articles on those companies not just within the business section, but throughout the paper.”

Credit card companies do deal with some debt settlement companies, but not everything that the company chooses to do is agreed upon by the company. This is information that is often left out or glossed over when reviewing the terms of agreement with your debt settlement company. This also means that they are in no way able to prevent you from being sued from your credit card company for the outstanding debt that you have with them.

Debt consolidators do not like to let on how tied their hands are when it comes to dealing with these companies. They claim that they will work everything out and get a payment plan started with the credit card company, but this does not often happen in a way that is agreeable to the company, and still leaves the door open for them to come after you in court should they choose to do.

Credit card companies have experienced every excuse under the sun for reasons why the debt has not been paid off by the consumer. More often than not, the excuse is flimsy and does not hold true. After they attempt to work with the customer to try and make payments on their debt and it is proven unsuccessful they will then turn to going after them legally.

A consumer can avoid the difficulties involved in having a collection lawsuit filed and not having any help or assistance in dealing with the matter. The answer is simple. Don’t get involved with a debt settlement company! Use a qualified practicing attorney at law for credit card debt management and debt settlement. Your money is too important to hand it over to debt consolidators.

By law, an attorney representing a client in credit card debt assistance cannot keep a client from getting sued. The chances, however, are greatly diminished. By dealing attorney to attorney, a debt settlement attorney has more leverage in keeping suit from being filed. Moreover, the attorney will give the client legal advise and do all of things necessary to represent the client in court proceedings. The attorney will make the burden to the client much, much lighter.

Because of the nature of debt settlement, it is important for you to make the right decisions on how you can once and for all settle your debt. Choosing a licensed attorney in your state will greatly help you with your debt problems and the stress that comes along with it.

Melvin R. Singleterry, owner of is a practicing attorney who specializes in Consumer Debt Law and debt reduction Singleterry, who holds a Bachelor and Master of Arts degrees from Oklahoma State University and a Juris Doctor from The University of Oklahoma, has practiced in both State and Federal Courts.

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