401K Payout

1:33 AM Posted by Jason

Nice animation regarding 401K Payout.

Difference in Income between 401k & Roth IRA

1:03 AM Posted by Jason

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An overview of risk management: Protect business finance

11:53 PM Posted by Jason

The conception of risk management is very simple. Perchance that is why it is habitually overlooked. An organization must keep track of their financial risk management to avoid legal responsibilities which are very risky some time.
Business Claims
A big business loss or an injury claim can overthrow an ill-equipped business. Insurance is one solution that includes general liability, workers comp insurance and business interruption.
Business claims can involve contract violation, unfair competition, fraud, Identity theft, trade secrets theft, and many other issues and they are wide-ranging and complex.
Business Structure and Maintenance
There are tax issues, liability issues and other areas that have that need to lookout. If you are the sole proprietor, you need to preserve the organization, especially, if you want to keep away from business losses and personal liability.
Employment Issues
Get all information indispensable to obey federal and state employment laws. They are multifaceted and extensive too. A professional risk manager is very helpful here. Particular areas where businesses keep going losses are "wage and hour" law violations and "independent contractor" agreements. Insurance is another constituent of employment issues that should be monitored.
Asset protection and Estate Planning
Sequence planning is the transfer of business welfare after death, retirement, or sale. All businesses need to make certain that business welfare is transferred successfully, with nominal taxation. There are many tools accessible such as asset protection management, buy-sell agreements, family limited partnerships, and trusts or insurance to fund a business after sale or transfer. Failure to map for a methodical business progression can result in financial loss or business loss due to taxes.
All businesses are having financial risk. Perceptive the level of risk, planning around it and reducing it will make sure a swift running business and avoid ruinous losses. And if you have a sequence planning, review it once in a while with your lawyer. Keep an inclusive "Risk Management" folder or digital file for a good tracking.

Debt Settlement and Credit Counseling - A Comparison

11:01 AM Posted by Jason

Debt Settlement and Credit CounselingThe struggling economy and high unemployment rate has left many people short of funds. Credit cards are being used to pay for everyday expenses, and late payments and bad debt have become the norm in many households. Overdue notices and collection phone calls cause undo stress and leave people searching for alternative financial solutions. Two such options are debt settlement and credit counseling, both of which are valid ways to reduce debt.

Debt Settlement

Debt settlement, also known as debt relief occurs when a lender agrees to accept a reduced amount, or settlement, to fulfill a financial obligation. Companies will often agree on settlements in cases where they believe they might not receive further payment otherwise. The amount that is settled on is determined by the lender and accepted by the borrower, and is usually due on an expedited schedule. While account balances will be reduced with settlements, there will be serious effects to the person’s credit history and score. The overall amount paid for debt settlement is usually less than going through credit counseling, but the collection calls and letters will not stop and if the new agreement is not adhered to the lender is likely to take the debtor to court for collection.

Credit Counseling

Credit counseling services work with lenders to reduce interest rates to lower required monthly payments. Some counseling companies can also eliminate charges that were accrued due to late payments or over-limit fees. Monthly installments on a credit counseling plan are quite often higher than going for debt settlement, but it is much easier to receive cooperation from a lender since they will ultimately end up with a larger return on the debt. While credit counseling does not take points from a person’s credit score, it does show up on a credit report. Credit counseling will prevent further collection calls and letters and reduces the risk of legal actions.

Deciding on the right action to take to manage debt is a personal preference. Debt settlement is risky as it is not a sure bet. The lender might not be willing to settle or might offer an amount that is out of the person’s reach. Credit counseling is easier to put in place, but will most likely cost more in the long run since it does not decrease the principle of the loan. Seeking out information about the programs and talking to a financial professional is advisable before making a decision when comparing debt settlement versus credit counseling.

Monique Rowe is a guest writer that writes for Franklin Debt Relief.

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