Financial News for Business
Financial news for business have a big impact in modern global crisis, we will help you to understand what is happening.
Posted by Nathan Torres on August 28th, 2011 ~
0 Comments This weeks Carnival of Personal Finance is up, and this week its being hosted by Miss Thrifty. This weeks carnival has a lot of interesting post on it including one I wrote on Buying Juvenile Life Insurance For Your Child, which did a comparison between two different insurance companies showing you how some companies will actually charge twice as much over other companies.
On top of that Ive also found some very interesting articles being covered this week. Below are 3 articles you should definatly take a look at.
- Consumer Boomer with a Room by Room Guide To Saving Money On Utility Cost. I like the ideas presented in this article and how it show you specifically how you can improve cost such as changing out your lighting in the family room and going with more energy efficient light bulbs, or when buying appliances going with energy efficient appliances only.
- The Digerati Life with Keep Mutual Fund Fees Low To Improve Returns. What I like about this article so much is that fees can take away so much from someones portfolio. I know this b
Read more…
Tags: Finance, Personal Finance
Posted by Nathan Torres on August 28th, 2011 ~
0 Comments Just a week after the last draft outline was posted, NY has posted another draft for comments. This time it is the Individual Whole Life and Endowment Product Outline and comments are due by April 10, 2011. Updating these outlines was one of the major topics of the Life section of the Modernization Initiative committee and it is great to see it happening. Of particular note is that this outline contains a section on nonforfeiture.
The lack of actuarial information and guidance in the earlier versions of the life outlines left insurers in the dark about department interpretations and positions. A preliminary review of this outline suggests that there are still gaps in that area. Many of us who have seen PAR letters know that there are many interpretations and it is much better to know them before a product was submitted than afterward! This is a great step in that direction. Hopefully, the comment process will result in more PAR positions being included in the outline.
Tags: Draft Outline, Posted
Posted by Nathan Torres on August 28th, 2011 ~
0 Comments The NY Senate Republicans have released their analysis of Governor Cuomo’s budget, including the proposal to merge the Insurance Department, the Banking Department and portions of the Consumer Protection Board. In the document they conclude that there are no savings to be achieved and a cost of $6-$9 million primarily in consolidation expenses. The document doesn’t contain a narrative discussion of the merits of the proposal – it merely states the conclusions on costs.
Tags: Analysis, Ny Senate
Posted by Nathan Torres on August 28th, 2011 ~
0 Comments As many of you know, I have been working a compressed schedule in order to provide support to my father as he battles Leukemia. For those who have been through these types of illnesses, you know how many ups and downs there can be. For me it has been a difficult and yet also joyful 7 weeks since his diagnosis. I have come to appreciate many things as a result of this illness – I have spent much more time with my father and that has been wonderful.
What has not been wonderful is finding myself, on behalf of my father, stuck in an insurance mess. We are stuck between a provider – Albany Medical Center – and his insurance carrier – Aetna. My clients are insurance companies exclusively and I have always loved this work. The people I deal with on a daily basis at my client companies are one of the things I like most about my job.
However, being on the other side – a consumer with a problem – has been eye-opening. We are left making choices from among bad alternatives.
Read more…
Posted by Nathan Torres on August 28th, 2011 ~
0 Comments Welcome to the Universe Edition of the Carnival of Personal Finance. In this weeks edition Im going to be covering one of my favorite topics, The Universe, as well showing off some of the best personal finance articles around. On top of that Ill be giving you some cool little tidbits about the universe and some amazing pictures.
Above is a picture of the Andromeda Galaxy one of my personal favorites. This galaxy is 2.5 million light years from earth and is the nearest spiral galaxy to the Milky Way. This galaxy is thought to be very similar to the Milky Way. On top of that this galaxy is supposedly on a collision course with the Milky Way.
Shaun from Money Cactus presents The Worlds Simplest Retirement Plan, This plan is very simple and easy to follow which I might add is very important to running a retirement plan successfully.
Money Thinker from Money Thinking presents Think a Stock Market Crash doesnt Affect You? Think Again!
Read more…
Tags: Edition, Personal Finance, Universe Edition
Posted by Nathan Torres on August 28th, 2011 ~
0 Comments Almost any company can purchase key man insurance. This type of business insurance can cover employees that are aggressive profit earners or key employees in keeping the business running efficiently.
A key man life insurance policy is one way that a company can protect itself in the event of the untimely death of a key employee, such as an executive, business owner, board member, or any other person that is vital in earning profits or maintaining the company. This type of life insurance policy is bought and owned by the company, not the individual. If the insured individual unexpectedly passes away the company is the beneficiary of this policy. The company will use the payout to help secure their future without their key personthis could include finding a replacement for that position or compensating for any economical loss that may have occurred from the loss of one of their key employees.
Key man disability insurance is similar to key man life insurance, except that it provides protection to the company in the event that a key employee becomes disabled and can no longer perform their duties to the company.
Read more…
Tags: Insurance, Key Man
Posted by Nathan Torres on August 27th, 2011 ~
0 Comments Recently Ive been searching the Internet far and wide for a the best No Fee IRA account. For those that dont know a no fee IRA is an IRA that doesnt charge a fee to invest money with. In fact typical mutual funds will charge two fees, one being a sales charge and the other being an annual fee to maintain the account.
With mutual funds however most will charge anywhere around 5% to 6% for an initial sales charge and an annual fee of around 1% to 1.20%. Now most people might think that these fees dont sound like a lot but over time they can erode your retirement savings away.
This is why I suggest Lending Club as the perfect retirement solution and in this article Im going to cover three major reasons you should choose Lending Club when it comes to getting a No Fee IRA.
First off, when your investing with Lending Club youre not investing in stocks or bonds, instead youre investing in money that is being lent out to others. As a result the people that take a loan against these borrowers are charged and interest rate which you will earn a portion of.
The benefit to this is that Peer to Peer lending is not nearly as volatile as stocks and bonds without seeing all the ups and downs. Now dont get me wrong their still is a risk to investing your money this way if someone doesnt make their payments, but if you spread your money out over a few hundred borrowers your chance of loosing money are a lot less.
In the chart above you can see that over 40% of people who invest with Lending Club are earning anywhere between 6% to 9%. Als
Read more…
Tags: Ira