Plan Your Retirement In As Easy As 1 – 2 – 3 Using Financial Planning Software

Rather than spend your hard earned money hiring a financial planner or consulting with one, there are actually countless software programs that would help you in managing your finances. These programs are efficient tools for planning and making all those important retirement calculations.


Rather than spend your hard earned money hiring a financial planner or consulting with one, there are actually countless software programs that would help you in managing your finances. These programs are efficient tools for planning and making all those important retirement calculations.




One software program is MFC, My Financial Coordinator. It literally serves this purpose. It merges all your income streams into a coherent report therefore making managing your assets so much easier to understand and manage.




This software also helps to determine which of your assets you should sell or hold based on performance. It also details all the financial activities you did for the year and helps you estimate your quarterly tax calculations. Doing so prevents you from incurring those annoying penalties from the IRS.




Other benefits the software program includes are the following:




Monitoring of stop/loss




This software helps in your decision-making on a specific asset prior to it losing its significant value because the stop/loss monitoring function works off the highest value recorded.




Quarterly Federal, State and Local Tax Estimates




The MFC software provides an easy one stop source for determining liability information and accurately reporting it thus ensuring on-time payment.




Confidentiality assured




MFC keeps you in the know as well as preventing others from knowing all your investment information. Details on your assets as well as your financial transactions are secure with you and never leave your sight. Any data transferred over the internet are mere stock symbols and never reveal any number of shares that you may have or any of your personal information.




Everything is served to you




Since assets come from various resources, the MFC software groups them all together on the system. All bonds, stocks, mutual funds, certificates of deposit, checking accounts, money market accounts, salary, income from social security, pension, annuities, proceeds from gambling, royalties, income from business and others.




Reporting of monthly income




This feature in the software enables you to see the level of your income on a monthly as well as an annual basis. This to assist you in managing all your financial as well as expense needs.




Calculations on your performing assets




Updates on your performing assets is provided to you by the MFC software program. This would help you in determining which are your non performing assets or under performers. Doing so would be of great assistance to you especially when the time comes to select which will go first when fund liquidation is called for.




You have the power and control




Absolute power in terms of your finances provides absolute control as well as flexibility as this software program enables you to indicate the Federal, State as well as any local adjustments or deductions in the computation of your gross income and liability in taxes.

Refinancing: Mistakes and Misconceptions

It is often the biggest mistake we make when attempting to refinance by overlooking and disregarding equity lines that are right around us and that can possibly be sourced with a little ingenuity. You never overlook any possible source of finance when building a property portfolio. This is a common mistake that can cost us a lot in the future as without the right financing we will be subject to things such as higher interest rates as well.




When we look at the equity available around us we also often limit it to our own belongings. This is not a bad practice however when looking to build out we have to think at a deeper level. In our list of equity lines we should in addition to our belongings have a potential list of persons that we can approach to sign with us as guarantors or even as joint owners. This is important to consider in tandem with refinancing.




There is no need to look too far when compiling this list and in fact this list should be close to home for the most part. Ask yourself this question, "Do you know anyone that owns their own home?" I am certain the answer will be an outstanding yes. What about someone that has their own business? These are all options when you are looking for someone to give you that last edge towards getting a loan or even in given you the additional boost so that refinancing is easier to accomplish.




You can use your own resources such as your own equity and any savings you may have and refinance as well but the importance of a guarantor is often overlooked. It is hard to get that loan if you have the requirement of a large amount or sum of money. Even with equity and savings there is no guarantee that the person that is approving the loan will be sufficiently convinced of your ability to repay and hence refinancing is easier with that additional guarantor. It also helps that this person is willing to go out on a limb for you so the provider of the loan is able to establish some level of trust that you are capable of repaying.




This is where building a trust relationship comes in handy. Institutions do not approve loans. We go to many places to source loans such as:




"Banks "Credit Unions "Private Lenders "Wealthy Investors




These are just a few of the institutions that we can approach. However it is the people in these institutions that we have to convince that we are capable to handle a refinancing of our loan and repay it efficiently. We also have to convince them that our plan is one that will be profitable. They are in essence putting there security at stake when they approve a loan for us and as such there must be a certain level of trust in your ability to fulfil the obligation of a loan.

Financial Budgeting, Income, Costs and Hints

So you are loaded down with bills to pay each month and are wondering how you can begin a savings account for emergencies and other high-expense endeavors. In other words, where can you find that extra cash to put away for later?




Firstly, when configuring your budge, plan for your savings first. You will grow richer each month if you begin to pay yourself first. Before paying any bills, decide on a set amount that you will pay yourself first - maybe five or ten percent - or whatever you decide - of your paycheck. Then, deposit the amount into a savings account before paying any bills.




When you do this at the beginning of the month, your entire paycheck will not suddenly slip through your fingers. If you wait until the end of the month, there may be nothing left to save. Paying yourself first will give you a systematic way to make your money grow. Regardless of your profession or your income, this system will work if you stick to it.




Anoter technique you may try for saving money is to empty your extra change into a coffee can or a jar each day. At the end of the month, roll the coins and put them into your savings account. You may be able to save 30 or 40 dollars each month just with your spare change.




Remember that good money management is more than just a mathematical formula. It’s too closely tied with the ups and downs of living to be just that. Your money management plan is always subject to change if your life situation changes. The object of a good budget is to make your money go the farthest in helping you reach your goals, it is not there to force to you to abide by rules.




Don’t get discouraged if the budget plan doesn’t work perfectly right away. It may involve some revising and editing until it fits your needs. Then, make sure to review it often, and be sure it is making the best use of every penny! Because we know how helpful those spare pennies can be!

Swiss Banks Traditional Leaders In Financial Privacy

When most investors think about offshore asset havens, the first prospect that comes to mind is the traditional Swiss Bank Account. This has become a virtual stereotype of asset protection, probably because Swiss banks have been in this field of financial services the longest compared to other countries.




Switzerland has maintained a longstanding political distance between itself and the rest of Europe; it maintained neutrality through both World Wars (leading to charges it...






Keywords:


offshore banks, Swiss banks, swiss banking, swiss bank loans






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When most investors think about offshore asset havens, the first prospect that comes to mind is the traditional Swiss Bank Account. This has become a virtual stereotype of asset protection, probably because Swiss banks have been in this field of financial services the longest compared to other countries.




Switzerland has maintained a longstanding political distance between itself and the rest of Europe; it maintained neutrality through both World Wars (leading to charges it collaborated with the Nazis); it is not an EU member; and only joined the United Nations in 2002. Christoph Meili, a security guard at the United Bank of Switzerland, became a prominent whistleblower by preventing the destruction of Holocaust-era financial records in 1997 and bringing them to the attention of the public. Subsequently, Meili lost his job and received death threats, and became the first and only Swiss national to be granted political asylum in America. Descendants of Holocaust victims claim Swiss banks are still holding onto some their ancestors' funds, despite disbursements in recent years.




Regardless of its somewhat unsavory past, Switzerland has traditionally had much to recommend it as an asset haven. It is a stable western country with a well established system of laws, so investors will get no sudden surprises after a coup or regime change.




The financial establishment in Switzerland Banking in Switzerland is known for stability, consistency, privacy and protection of client assets and data. The nation's tradition of bank secrecy dates back to medieval times, but was officially codified in a 1934 law. All Swiss banks are regulated by the Federal Banking Commission,or FBC, which derives its authority from a series of federal statutes. Banking is a major industry in Switzerland, employing approximately 5% to 6% percent of its workforce and generating 14% to 15% of its annual GDP. It is estimated that approximately one third of offshore funds are stored in Swiss banks. The UBS AG and Credit Suisse are the two largest Swiss banks, holding more than 50% of all deposits in Switzerland.




While secrecy of banking data is guaranteed under Swiss law, in practice it is not unlimited. While secrecy is protected, all bank accounts are linked to an identified individual, and a judge or prosecutor may issue a "lifting order" to give law enforcement access to information relevant to a criminal investigation. Swiss law discriminates between tax evasion and tax fraud. If money is not declared, this is considered tax evasion, a misdemeanor under Swiss law. However, tax fraud such as filing forged tax declarations is considered a criminal offence.




Also, in an effort to stop the use of Swiss banks by criminals, The Money Laundering Act sets standards for the identification of account holders, and requires reporting of any suspicious transactions to the Money Laundering Reporting Office. After 9/11, Switzerland was one of several countries to participate in joint task forces targeting financing of the Al-Queda terrorist organization.




Due to Switzerland's high profile in the world banking community, it has come under pressure from many nations including the U.S. to alter its privacy laws. European Union members complain that their nationals use its convenient nearby services to avoid taxation at home. The EU is working towards a harmonized tax regime among its member states, and the the Swiss banking officials (and, according to some polls, the public) are against further integration. However, some cooperation has been forthcoming, and since July 1 2005, Switzerland has charged a witholding tax on interest earned by the personal Swiss accounts of E.U. nationals.




In 2001 and 2002, the government of Italy offered a limited amnesty to tax dodgers with Swiss accounts, resulting in the repatriation of 30 to 35 billion euros. In 2003, another such amnesty program was offered by Germany. In 2003, the U.S. announced a new information-sharing agreement under the previously-signed U.S. - Swiss Income Tax Convention, to facilitate more effective tax information exchange.




Swiss numbered bank accounts are legendary to the public as bastions of secrecy, but in reality, the information required to open such an account is the same as that of an ordinary account; completely anonymous accounts are legally forbidden. The only difference between a numbered account and a regular account is that personal data concerning such accounts is restricted to senior bank officers, rather than being accessible to all bank employees. In a criminal investigation, law enforcement can access the numbered account holder's identification just as easily as that of a regular account.




In summary, anyone who wants to keep a legitimately-gained amount of capital in a safe off-shore asset haven should consider Swiss banks to be a safe bet. However, due to their high profile, these banks may offer less assurance of privacy than some lesser known, and less carefully scrutinized, countries such as the Turks and Caicos or the Guernsey Islands.