Manage Finances Blog

Thursday, November 11, 2010

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Trading the Plan: Build Wealth, Manage Money, and Control Risk (Wiley Finance)

Trading

The Plan is a powerful instrument to help you achieve control over your financial destiny. It equips you with the tools you need to maximize your profits, control your risks, and, perhaps most importantly, develop a money management program that will limit your losses. In the course of reading this remarkable book, you'll grow to regard author Robert Deel as a trusted advisor who gives you tough, straightforward advice and helps you implement the changes you need to make. And, unlike the "one-size-fits-all" approach of other advisors, Deel shows you how to tailor a strategy that fits your specific needs, goals, and risk tolerance.

Drawing on years of experience as an investment advisor, Deel has packed this book with both detailed practical advice and hard-won wisdom about how trading, investing, and human nature really work. Emphasizing the danger of unchecked losses, he makes the case that a strong money management program is absolutely essential to acquiring and keeping wealth. He examines the many faces of risk and thoroughly explores the key money management questions:

How much of total available capital should you risk?
How much do you risk in any one trade?
How much leverage should you use?
How can you project losses and preserve your capital?

To help you establish your own money management system, Deel provides a simple but powerful formula â??the Direction Discipline Risk Leverage equation â??which examines your trading ability and helps you control risks.

In his invaluable "15 Rules of Investology," based on 40 years of trading results by professional and private investors, Deel offers trading and investing guidelines that will spare the reader wealth-draining losses and many sleepless nights. Here is concise, practical information on how to use fundamental and technical analyses to select and screen trades, determine market trends and trading cycles, categorize different types of stocks, and select the computer equipment you need to trade successfully.

In a brilliant summary of all the key features of the trading plan, Deel walks you through the entire trading and investing process from beginning to end. This "Anatomy of a Trade" illustrates all the important decision points in an actual trade and offers a hands-on application of the trading plan to a working example.

For all futures, stock, and options traders, Trading the Plan is an essential field guide for acquiring â??and keeping â??profits.

Maximize profits, control risks, and limit losses with this total plan for investing and trading

Like no other book of its kind, Trading the Plan gives the individual trader in futures, stocks, and options a superb resource for investing, managing money, and limiting the profit-draining losses that can lead to financial disaster.

"Robert Deel offers traders and investors alike a solid overview of real world trading advice. The subject matter covers everything from the psychology of trading to practical money management techniques. Trading the Plan: Build Wealth, Manage Money, Control Risk is a definite must read for any serious investor." â??David C. Stendahl, President, The OEX Trader, Inc.

Price: $70.00

Wednesday, November 10, 2010

The Super Secrets Of Credit - How Anyone Can Establish, Manage, Repair and Erase Bad Credit Without Losing $1,000s to Credit Repair Company! AAA+++

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The Experts Guide To Managing Your Time

Solve all your time management woes. 27 Top Experts spill their secrets, covering procrastination, prioritizing, scheduling, organizing, clutter, work life balance, efficiency, productivity, waste, wastage, to do list,todo, tips, techniques and tricks

Tuesday, November 9, 2010

Why Can't I Manage Money?

I think I am managing my money right but I am not. What's going on? What is keeping me from doing the right things like saving, having money left over at the end of the month and paying off debt? Are these a brief summation of what you are feeling? Don't worry you are normal. You may be feeling bewildered because no one is telling you what you are up against. Let me give you the short version of your biggest problem. It is well chronicled and it is you. More specifically it is your psychological makeup. You are hardwired to make the mistakes that you are making and marketers are taking full advantage of your vulnerabilities.

Your vulnerability is that humans evolved to survive. Despite what utopian ideals we may have the number one reason that humans survive is that we procreate really well. We are driven to make and have babies at a rate that makes us competitive with bunnies. We think as rationally as Wapiti in rutting season. It is 98% of our mind but it is not in our conscious mind. It is in our unconscious mind and it rules our behavior. And you know this is true. I know what you are thinking right now.

A guy named Sigmund Freud identified this over 100 years ago and called it the "Id". What's this got to do with money? Well, money operates very rationally. If you have a budget surplus every month you will be able to save or pay off debts. Then you will accumulate assets that will increase in value and give you more income. The rational cycle continues until you are rich. Another example is that Compound interest has the rule of 72. So how do folks who are rich do it? Well, they hook up the small part of their brain that is rational and connect it to the rational characteristics of money.

It is really hard to do when you are young and the hormones that fuel your drive to procreate are flowing like rivers through your veins. What makes you even more vulnerable is that marketers hire psychologists to find what triggers the unconscious mind to make decisions that are not rational. A current example is that the roof design on some cars has the same curve as that of a young woman's hips. You look at that car and the excitement you feel is welled up from your subliminal drive to procreate.

You don't even need marketers to get you to part with your money. My 17 year old daughter and her team mates were fundraising in front of a local liquor store. I was assigned the job of sitting in the parking lot to make sure everything stayed safe. I could not believe what I saw. Young guys got out of their cars, took one look at these athletic young girls and instinctively reached for their wallets before they even got within 10 yards of the fundraisers. Both Males and Females are hardwired similarly in that both are hard wired for procreation. It is different in how but it is the same.

The next question is how do I get a grip on how to manage my money rationally? Hopefully you were trained about these things by your parents. In Freud speak this is the Ego. From this source there is a full range of quality and lack of quality for training. However, even the best training is not enough to keep down the power of the procreation drive. When you know better but you do it anyways there are 106 different ways that your brain is hardwired to allow you to see your irrational behavior as a reasonable alternative. These are called cognitive biases. This article is supposed to be the skinny on this stuff so research this phenomenon. You will be introduced to a wide variety of everyday lies that you have told and have heard told to you.

Eventually the rational mind starts to take over behavior. Psychiatrists and counselors are trained to expect to see this phenomenon identified by Freud as the Superego. It develops slowly and starts to flourish enough to dominate behavior between the ages of 35 and 45. You older folks take a look around and you know this makes sense. For younger readers, watch yourself and/or your friends go through the trials and tribulations until your capacity to be sane and rational overpowers your desire to procreate with anything that looks good.

In the meantime try to find some personal financial coaching to minimize the damage. Try and make the connection between your rational brain and the rational machinations of money.

Personal Financial Coaching is required to address the epidemic of irrational behaviors in financial decision making. This occurs at what can be described as the individual, the personal or micro level. This also occurs at the corporate, the government and the international or macro level. Personal financial coaching implies that there are actions to be taken to prevent injuries and promote financial health such as saving. The goal is to train retail users to manage their money sanely and rationally without bias and to teach vendors how to communicate how to use their products to manage money sanely and rationally. The result of Personal Financial Therapy is Financial Literacy.

Firm Helps Families Tap Intangible Assets

For wealthy families, keeping stories and traditions alive is more than a matter of collective pride. It can also serve as a bridge across generations to safeguard values and fortunes alike.

This is especially true for large families that lack a central rallying point–a business, say, or a commitment to philanthropy. They can easily drift apart, their assets disintegrating. At the very least, they can be hard for wealth managers to advise and retain, according to Carolyn Friend, co-principal of the Chicago-based consultancy Inheriting Wisdom.

That is why she and Jamie Weiner, her co-principal and husband, work with ultra-wealthy families and their advisers to come up with legacy plans rooted in family traditions.

Friend is a clinical psychologist with more than 20 years of experience, but says, “What we do isn’t just about psychology.” Their work starts by helping families appreciate the value of their histories and traditions, and is designed to end with a comprehensive plan for preserving what’s truly important.

“Most conversations about legacies are 99% about assets; the tangibles,” says Friend. “But the family’s real power comes from the intangibles–and most families don’t even have conversations about that.”

Weiner gives an example, from his own family, of a life lesson that was nearly lost. A few years ago, he came across documents that put his paternal grandfather in a new and inspiring light: He was a self-made department-store tycoon in Dresden, Germany, before the Nazis took almost all he had because he was a Jew. After a series of adventures, including a run-in with the SS, he found refuge in Britain. There he slowly rebuilt his fortune in real estate.

Sharing stories like this within a family can help instill common values. First-person accounts of success and failure, shared at family gatherings or one-on-one with relatives of different generations, can also help create and reinforce a legacy.

“It opens the door to communication,” says Weiner. And with proper facilitation, he adds, this openness can be turned to discussions around the pivotal question, “What is wisdom?”

From there, families can develop and communicate messages calculated to unite rather than alienate. To break the habit of elevating those most involved with making or preserving money, for example, family members can agree that genuine effort–to whatever end–is a positive value. “Families can agree that hard work is what made them wealthy in the first place, so they can agree on the wisdom of working hard,” says Friend.

Friend and Weiner also urge families to redefine their values periodically to keep from getting stuck in the past or excluding mavericks who may become leaders.

In what Weiner calls “a successful work in progress,” he tells of a family that’s being led by a former black sheep to a radical new definition of its legacy–from one based solely on business to one that blends money-making with philanthropy.

Inheriting Wisdom was established in 2004. To date, it has worked with about 800 individuals from families worth between $20 million and $450 million.

Thomas Coyle is a special writer with Dow Jones Newswires who covers the wealth-management industry.

Monday, November 8, 2010

The Case for Gold at $3,000 and Five Other Must-Reads

Best performing Russell 1000 stocks month-to-date. Are they all set for a breakout?. (EDMC, NFLX)

The case for and against $3,000 gold. (GLD, NEM)

Walgreens is reporting earnings tomorrow. Is it getting ready to rally? (WAG)

The world’s 50 biggest banks. Interesting that the highest American bank is No. 6. (BAC)

How Netflix killed Blockbuster.

Wow, I wish I had these when I was in college. Top 5 iPhone apps for college students.

James Altucher is a managing partner of Formula Capital, an alternative asset management firm, and an author on investment strategies.

Digital Document Management Software

Manage up to 200,000 PDF documents at lighting speed and never be lost for information

Sunday, November 7, 2010

Caregiving For Elderly Parents - Managing Money Issues

Many seniors have elderly parents for whom they provide caregiving. Senior citizens are helping each other when they talk about their various experiences with aging parents. These are some conversations recently observed among seniors talking about parenting their parents.

One had an aging parent in a nursing home in another city. On their behalf, they recently sold some property from an estate for which they were a beneficiary. The funds were then deposited in an account to be used exclusivly for the parent. The procedure was then explained to the parent, whereupon they stated that they expected the funds to be deposited in a local bank account, so they "...can write checks" to use the money. This elderly parent has a slight cognitive impairment and medical reports from several different offices have noted her poor judgment and inability to do effective reality testing over the past decade; she was also recently a victim of an identity theft scam that left her totally perplexed about how she was victimized. She hasn't had access to a checking account for several years, and it became the editor's job to determine how he would handle this situation with his mother.

He decided to write a letter to his mother detailing how the funds were reserved for her use, and why he would remain in control of them, which in effect meant she would not have direct access to the money. He asked her to keep the letter so when she had questions about why she couldn't write checks on the account, she could refer to the letter for a detailed explanation. The letter was written in kind and loving tones, using simple language she could easily understand. He expects to hear questions from her about the funds, and he will both answer the questions as well as refer her to the letter that explains the entire process. He is credited with maintaining a loving and supportive relationship with his mother throughout his life, never giving her any reason to doubt his intentions with relationship to her.

Another senior citizen is dealing with an aging parent who managed his own financial affairs until just the past couple of months. He is severely cognitively impaired and unable to remember anything beyond a few seconds. Long term memory is somewhat better, but even details are confused when he relates a memory from years ago. Over several months, it became clear to the editor and her siblings that he was unable to manage his various investments alone and, in fact, there was some concern about the possibility of identity theft and being a victim of scams on the elderly. She knew action had to be taken sooner rather than later.

She and her siblings agreed they would ask him to voluntarily execute the power of attorney he had prepared several decades ago, realizing that if he did not agree, they would be faced with having him declared mentally incompetent-a place none of them wanted to go. When approached about the POA, he readily agreed to execute it, which now allows two of them to participate in all financial decisions that must be made on his behalf. The siblings are credited with maintaining a loving relationship with him over eight decades which was likely the basis for him feeling comfortable with signing the document.

On the surface, these two experiences have very little in common. However, the seniors discussing the issue agreed they learned an important lesson in caregiving for elderly parents: There aren't any 'rules' for how to deal with financial issues with elderly parents. Each situation must be carefully evaluated, taking in to account all the dynamics and variables that affect where the parent is at a given point in time, knowing that can change in the future. The best advice coming from the discussion is to act from a position of love and caregiving for one's parent, evaluating medical, social, environmental, mental, emotional, psychological realities of the parent, and then asking yourselves how you would want your child/children to act if you were the one receiving care.

Article provided by Sharon Shaw Elrod. Senior Citizen Journal, Your Partner in Productive Aging, provides current and relevant information on topics of interest to seniors. Please visit my web site at http://www.seniorcitizenjournal.com/.

Saturday, November 6, 2010

Managing Money in Today's Time

Managing in today's time require that we manage our money and time wisely. Time management is the process of eliminating areas in our life and increasing our capabilities to achieve a specific target. When we lay out a well-constructed time management scheme, we are well on our way to success. One of best solutions then to manage money in today's time is to realize that MONEY is spent in many ways.

Studies have shown that more than '25%' of today's workers spend a lot of their time on the Internet sifting through emails. When we are spending this kind of time on emails, we are spending money while we are wasting time. The average individual wastes nearly 2 hours per day on email. In two hours you could ask, how much work could I have finished, or how much time could I have invested with my family, school, self, et cetera.

I talk to people everyday in my career and had to stay off AOL simply because all my friends want to email me or else IM me, which wastes my valuable time when I am working. Not only could I finish my job on time, by ignoring AOL, I am also saving money since I cut back on the hours spent, and the payment plan that AOL offers. I am saving time and making money. I will be the fist to say that the Internet is addictive, so be sure you 'check yourself before you wreck yourself."

Spending this kind of time on the Internet is not a step forward in your time management scheme. The rate of email communication is growing rapidly and if you are responding to customer, emails this is fine, since it is a part of business. Don't waste your time on Spam mails, or other types of mail that are only slicks to lure you into a web of loss. The fact is we only have so much time in a single day to finish our work. Some of us get lucky and get a little longer timeframe to turn our productivity in, but for the most part, we all have a list of tasks to complete in a short time.

Unless all of your customers on the Internet, then you better, get that stack of papers on your desk and work to finish the most important task first. The sooner you are finished the more time you will have to do whatever it is you have planned. I am a workaholic, so I have to sway away from informing others my methods of time management. Nevertheless, for the most of us, we have to manage our time in a way that suits our character and what we can handle.

To manage money then we need to evaluate how much time we are spending on the Internet. I personally know people that chat while they are working, so if you are one of those people you are not only spending company money, you are wasting time. This is not a part of time management. Rather it is a plan that may get your fired in the future. If you are searching the Internet, browsing through inappropriate sites, or sites that offer sales, then you are also wasting time, as well as spending money and your goal is stretching further away from your time management scheme term.

The fact is the inappropriate information abroad the Internet has proven fatal, in the sense, other people are hurt as result, and sometimes you are hurt if you develop an addiction. This will take a lot of time to repair, and a lot of money to undue the damage caused. Likewise, if you are searching for bargains, purchasing products you may or may not need, you are sending you goal to the back while you waste valuable time that has no returns. In addition, you are spending money that could help you obtain the goal laid out in your time management scheme.

The World Wide Web is not a toy. Rather, the Internet is a source of communication that can make or break us. Any time management scheme requires the individual (s) to divert a plan to spare time and save money while reaching for goals.

For more great free resources on how to manage your time visit Gabae Time Management.

Also for more informative articles on time management visit Gabae Time Management Articles.

Friday, November 5, 2010

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Wealth: Why You Should Time the Markets

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If the Bush tax cuts expire, how can you protect your portfolio before year end? Plus, Cody Willard says market timing is better than then buy and hold. And, investing in church bonds yields blessings but carries
plenty of risk. Watch our Wealth Advisor video series with Reporter Veronica Dagher to find out more.

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Name We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name. Comment Comments (2 of 2) View all Comments » 7:32 pm September 29, 2010 Riskette wrote:

Not to mention … was that a blog entry or an ad?

12:17 pm September 29, 2010 DM wrote:

That “market timing” segment was absolutely worthless. The dude could’ve said “buy low, sell high” in 3 seconds flat, and conveyed all he had to say. I want to get paid for a job like his.

About Financial Adviser Follow Us: RSS

Financial Adviser covers important issues affecting financial advisers, brokers, wealth managers and their clients. Featuring lead editors Brian Cronk and Kevin Noblet and the reporting team of Dow Jones Adviser, along with contributions from leading industry voices, Financial Adviser provides insight into issues including taxes and estates, philanthropy, investing, practice management and financial planning. Write to us at wealthmanagerinquiries@dowjones.com. For more information on Dow Jones products for financial advisers, go to http://solutions.dowjones.com/wmblog.

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Thursday, November 4, 2010

Blazing Guns Bring Clients Closer

Wall Street can sometimes seem like the Wild West, a place where outcomes are hard to predict and havens even harder to find. All an investor can do is dodge those bullets.

Lee Munson with AR-15 sniper rifle

The same might be said for financial adviser Lee Munson’s annual client gatherings.

Munson, chief investment officer of Portfolio LLC in Albuquerque, N.M., has turned a passion for marksmanship into an unlikely way to promote his firm. He brings a dozen or so current and prospective clients together at a local shooting range and lets them fire away.

To add a little more excitement, Munson makes sure to have on hand some very special firearms, from a Prohibition era-style Thompson submachine gun–”It makes you feel like a gangster,” Munson says–to an “elephant gun” that’s suitable for a big-game safari hunt.

The idea for the annual firearm fest was “real simple,” Munson explains: “I like to shoot guns and if I’m going to do a client event, I want to have fun.”

Plus, to go on the shooting range with a prospect and “drop some brass” together is to get to know them on a deeper level, Munson insists. “You can go to dinner, you can play golf, but when you start shooting guns with a client, those are lifetime clients,” he says.

New Mexico is, of course, far from Wall Street and many New Mexicans are outspoken when it comes to their embrace of firearms. Munson says his clients come from all walks of life and both sides of the political aisle–and none appear to be put off by his company outings.

Jim Pelner with black powder buffalo gun

“We’re serious, wealthy people who grew up in America and we want to exercise our rights to blow things up,” adds Munson, whose interest in guns goes all the way back to when he received his first rifle at age 8.

Besides, organizing a client shootout really isn’t any more complicated than a dinner or a picnic, says Munson, whose firm manages around $125 million in assets spread among 100-plus clients. He just needs to reserve a spot at the shooting range and bring along the guns [and have clients bring theirs, too]. Expenses are minimal: About $80 for usage of the range, another $50 to $100 for snacks and drinks [no alcohol, naturally] and $250 for ammunition, including those five-bucks-a-pop shells for the “elephant gun.”

And, yes, there’s a payoff: Munson says he’s managed to land one new client as a result of each of the past two annual shootouts. But he doesn’t really think about these events as anything more than an excuse to, well, shoot.

“When I’m back in the office, we can talk about the stock market all day long,” Munson concludes.

Wednesday, November 3, 2010

Managing Money After Divorce

After separating from her husband last year, Marilyn has been struggling to pay her bills on time and to keep track of her expenses. During the 21 years she was married, her accountant husband had taken care of all their financial transactions. "I didn't understand the basics of managing our money," Marilyn reveals, "I had never even read our bank statement."

Four years ago, 46-year-old businessman Steven decided to let his ex-wife keep the family home, since she would have custody of their two young children. "I left everything with her and walked out with just my personal possessions." Today he wonders if he made the right decision as he is finding it difficult to afford to buy another house of his own.

The dissolution of a marriage usually brings upheaval for the former partners, their family members and friends. While attention is given to the emotional and mental effects of divorce, the monetary challenges cannot be ignored as they can leave the family finances in serious disarray.

If you are dealing with divorce, here are some important considerations:

Be Aware of Your Financial Picture

With the changing financial situation that a divorce can bring, you need to be on top of your money situation, knowing clearly if your income will meet your monthly spending requirements. Download a personal budget at http://www.financiallysmartonline.com to help you plan for regular expenses, control non-essential spending and project for possible emergency costs. This will also help you to know what amount your former spouse should be required to contribute to the household.

Prepare For Additional Costs

It's definitely easier when two persons pool together to meet shared needs such as housing, food and utilities. Running separate households usually brings additional expenses that must be budgeted for. Depending on the separation agreement, you may now have to pay alimony, or be totally responsible for of all your personal expenses. If you have children, increased costs such as transportation between the parents' homes, and additional child care should be factored in.

Learn New Money Skills

You may also be faced with new responsibilities that were previously carried out by your spouse. If balancing your cheque book, paying utility bills promptly, and shopping wisely at the supermarket are new tasks for you, make every effort to learn how to manage your money. Look out for books, magazines, Internet articles and television shows that can give you tips; and use a cash flow calculator available online to help keep you on track with your spending.

Get Advice On Assets and Liabilities

Another important consideration is how to deal with jointly held possessions. If your finances were commingled in bank accounts, businesses and belongings, it is crucial to get guidance from your own lawyer or accountant. Some people have lost significant sums because they allowed their former spouse to make the decisions on the separation of assets. It's also necessary to get advice on loans or credit cards that you may have co-signed while married. Don't assume that your ex has paid off debt based on verbal assurances; get written proof that these obligations have been met.

Change Financial Information

Along with making necessary changes to joint assets, remember that you may need to adjust legal documents such as your will and life insurance policies. Ensure that these now reflect your current wishes on how your property should be disposed of when you pass on. Think carefully if you also want to change the trustee designation for your children on your life insurance and bank accounts.

Make Plans For The Future

Unfortunately, the marriage promise of 'until death us do part' has been broken, and with it disappeared the idea that you and your spouse would support each other through your retirement years. It's very important to get expert advice to ensure that your monetary needs will be met when you stop working. Go to a financial institution that can help you to plan how much money you will need to save and the best types of investments for your retirement goals.

Invest Your Settlement

If your divorce terms involved the liquidation of property or business, or you received a cash settlement, you need to invest your money wisely. This is not the time to go on a post-divorce spending spree to feel better about yourself. With advice from an investment advisor, use the money to boost your retirement savings, fund your children's college tuition, or invest in assets such as real estate that can provide income and growth.

Avoid Money Hang-Ups

At this time, you also have to manage your emotions around money. It might be tempting to use money to exact revenge, by making unreasonable demands of your ex, or passing on unfavourable comments to your children. Even if you feel that you have not received what is due to you, or if you think you have been overextended, don't let money issues make you bitter. Despite your disappointments, your divorce can signal a new beginning for you to take control of your own financial success.

Cherryl is a financial consultant and coach, and founder of Financially S.M.A.R.T. Services. See more of her work at http://www.financiallyfreenetwork.com

Windfall: Managing Unexpected Money So It Doesn't Manage You

Between rising housing prices and the long bull stock market, inheriting an estate of several hundred thousand dollars, or even $1 million, is no longer terribly unusual. Windfall: Managing Sudden Wealth So It Doesn't Manage You is a practical guide to making the most of inheritances and other significant windfalls. While being in charge of a great deal of money is a wonderful thing, there's often a real emotional conflict. It can be hard to decide what's right for you.

Price: $24.95

Tuesday, November 2, 2010

CurrencyManage 2009 Paper Money Collecting Software For Numismatic Collectors - Manage Your Currency Collection

Use CurrencyManage to quickly catalog & value your paper money collection. Simply choose the notes you own from our comprehensive database of US Bank Note varieties, complete with images & indexed by Friedberg & Pick numbers. CurrencyManage also includes a separate database of all 14,400 National Bank Notes. CurrencyManage also let you:

* Generate Checklists and valuation reports of your collection using the many included pre-defined reports.
* Reports can be printed or exported to many different formats, including PDF, HTML, Excel and more.
* Print out bar code labels similar to those found on Certified Paper Money.
* Updated every year since 1999 with new data, values & new program features

Price: $49.95

Monday, November 1, 2010

Manage Your Remodel--And Save Money

Homeowners can save 20 to 30 percent of the cost of a major remodeling project by taking control of their project and acting as the general contractor. That means reducing the overall cost of a project or using the money to upgrade materials. Manage Your Remodel and Save provides homeowners with first-hand information on how to be the general contractor on a large-scale remodeling project. Written by a homeowner who took the lead position of her whole-house renovation, the book details the numerous tasks and rewards of cutting out the middleman and acting as the project manager. The book covers working with architects, getting the best prices on materials, and hiring and supervising subcontractors. Manage Your Remodel and Save empowers homeowners to be the boss and get pro results and maximum savings.

Price: $16.95

Social Media Management for Celebrities

Ebook on How to Make Money by Managing Social Media for Celebrities and Famous People. Work With Famous Celebrities Who Will Pay You Handsomely Just For Spending Time On FaceBook & Twitter! Available as an eBook as well as Audio Mp3.

Sunday, October 31, 2010

Adviser Says No to ETFs

The May 6 “flash crash” spurred one financial planner to largely swear off exchange-traded funds in client portfolios and return to using traditional mutual funds instead.

The reason is liquidity risk, according to an article in The Wall Street Journal by Shefali Anand. “Sometimes, when there is a lack of buyers and sellers, the price of an ETF can diverge sharply from the value of its underlying investments,” the article says.

“That’s what happened on May 6, when some ETFs lost almost all of their value briefly. One of the adviser’s clients lost more than 20% of his stake in one ETF because of a stop-loss order requiring the fund to be sold if it fell below a certain price. Worried about the possibility of a recurrence, he has been selling clients’ ETFs and buying index mutual funds instead.”

Read the full article here.

The worlds #1 Property Management Software

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Saturday, October 30, 2010

How & When to Teach Your Child to Manage Money

Children and finance matters don't really go hand in hand, when we were kids, I don't think we ever thought about money or its value. Kids start to learn basic money change and simple calculation in grammar school. Money saving, management is not really taught in school, unless one takes finance as a profession. That means as parents its our job to educate children early on adulthood's financial challenges.

Start teaching early in Childhood

Teach children the value of Money early in childhood has the advantages for the child is immediate and long term. Learning early will allow children to make smart purchases and they will adopt the true meaning of "investments". This may even lead them to understand why they can't always get what they want immediately and will give them an understanding about avoiding debt, saving for the future and money problems. The young mind absorbs and retains information earlier so it is best to start as early as possible. You may ponder what to teach or when and how to teach your children. Use your children's natural inquisitiveness to learn, to guide you.

"Money doesn't grow on Trees". If you see it from a child's point of view, money emerges from mommy's purse or daddy's pockets; we are practically "making" money in our pockets in a child's world. This is the best time to start teaching them when they start to notice money as an object. They will naturally come to belief that money is readily available whenever it's needed. Generally we have heard the term "Money doesn't grow on trees" from our parents or grandparents when we were young. This non constructive explanation is not sufficient enough. We have to explain to the child as simply as possible why we can't meet their every demand. This approach is much more constructive then the latter.

Start with a Piggy Bank Whenever you hear "Mommy I want this, or buy me that" take a moment to respond wisely to the situation. This kind of situation is a good opportunity to educate the child on the importance of saving up; before they buy the things they want. Saving can be a fun experience for the child. Introduce a shoe box, piggy bank or an old jam jar for them to start saving their money. Teach them to decorate their little "bank" and you can explain to them how you save your money in a real bank. As they save their money, you can reward them with an additional amount as interest for their effort. Encourage your kids to save a fraction of their allowance to be used for a particular goal, this will in turn motivate them to save more.

Allowance on a Schedule

Sometimes even very young children can begin to recognize the notion of earning money. Explain to the child that you can only spend money from what you have earned from working. Start of by paying them allowance on a schedule, and guide them by making goals on how to save and spend their allowance. You might consider paying your kids for errands outside of daily duties, such as washing the family car or helping to garden. It's very important to strictly stick to your payment schedule or else the lessons learned may be lost on them.

The teaching of money matters to your children about our complex financial system may seem overwhelming, but you can help put your child on the right track by encouraging smart habits now. Answering your children's questions truthfully and in terms they'll comprehend can help them begin life on sound financial footing.

Amanda Yang has diverse interests in many fields. Come visit her most recent website over at http://chefselectricknifesharpeners.com which helps people find information on Professional knife sharpener before they make a purchase.

Friday, October 29, 2010

How to Craft a Resume

Getty Images

A healthy book of business is the top attention-getter for experienced financial advisers looking for a new place to ply their trade. But a solid resume can seal the deal. The resume is a place to delve into details such as specific accomplishments, activities outside of work and relevant skills, experts say. Adding a stellar resume to round out a candidacy helps recruiters understand why a financial adviser would be a great fit in the organization.

Here’s how it’s done, according to careers website FINS.com:

30 Days to Taming Your Finances: What to Do (and Not Do) to Better Manage Your Money

Deborah Smith Pegues, author of the popular 30 Days to Taming Your Tongue (over 220,000 copies sold), now offers friendly, doable money management strategies in 30 Days to Taming Your Finances. Gi

Price: $5.99

Thursday, October 28, 2010

IT Project Management eBook

Only $29.95 for a condensed guide from 25 years in the computer industry giving clear, practical guidance to project managers. Written by a senior project manager consultant and mentor from the presentation notes of his 2 day course charged at $3,000.

Wednesday, October 27, 2010

Advisers Hit the Wall

Bari Goodman

Facebook and Twitter are inspiring firms that support independent registered investment advisers to devise fresh ways to help clients run their businesses and communicate with investors.

Omaha-based Orion Advisor Services, for instance, has created a Facebook-like “wall” to help registered investment adviser, or RIA, owners track business developments on a daily basis. And from YouTube, Orion has taken the idea of giving advisers the ability to embed video links to online client statements.

“Advisers can log in to their online database and see the ‘Orion Wall’,’ says Orion President Eric Clarke. “It’s like a front-page newspaper view of the business that updates throughout the day.” Among the details available there: assets under management, new accounts and fees collected.

Orion provides back-office and database services to RIAs. It views social networking as a testing ground for new ways to use established technologies. “You can learn a lot from them about how people prefer to communicate,” said Clarke.

Though the new feature links to graphics that let RIAs compare activity over any number of days, Orion’s version of the Facebook wall isn’t meant to replace the firm-specific Business Metrics data it already provides its clients every month.

“For the purposes of tracking business activity, the monthly view is enough,” Clarke says. Instead, the wall is meant to help RIA staff members monitor developments in real time and communicate with one another on specific, well-labeled issues.

The Orion wall can also serve as a call to action on client-service matters. Rather than finding out days later that a client has closed an account, for example, an adviser with access to the Wall is alerted as soon as it happens–and so gets an opportunity to reach out and try to salvage the relationship.

Orion isn’t the only firm watching for ways to use such tools. Its wall feature reminds Christopher Winn, head of RIA consulting firm AdvisorAssist, of a new offering from customer-relationship-management application maker Salesforce.com called Chatter.

For Winn, this trend of “using the methodologies of social networking without going out and using the services” can help advisers convey targeted and relevant information–without looking like they have gone off the deep end.

“That’s a real risk,” said Winn. “If clients see you’re too active on Facebook and Twitter, they start thinking, “Hey, aren’t you supposed to be managing my money?’”

What makes more sense, added Winn, are closed-circuit applications inspired by products such as Twitter and the like, such as Orion’s and Salesforce’s–and the one AdvisorAssist itself uses to remind its RIA clients of compliance deadlines.

Tuesday, October 26, 2010

How to Manage Your Money (Christian Financial Concepts Series)

People often try managing their money apart from God's plan. Bad plan. Until people have an attitude change about money, it will continue to control and confuse them. How to Manage Your Money is an excellent tool to get readers on track toward a liberated financial life. This newly re-packaged bestseller contains updated material, plus a step-by-step, in-depth study of God's principles for money management.

Price: $8.00

Investing in the Stock Market - How to Manage Money and Risk

How you manage your trading capital will largely determine the equity growth you will generate. Successful trading is the art of combining correct stock selection and market timing with proper money management. Correct timing will let you enter a stock that moves in your direction, but it takes proper trading tactics to determine exactly how much money to risk, at what time, and when to exit a trade.

The following is a guide on how to write your own Money Management Rules to maximize growth in your equity.

Money Management & Risk Control Rules:

1. What is the maximum percentage amount you are prepared to risk losing on any one trade?

a) as a % of total Account size?

A sound rule to follow here is the "2% Rule" which states that you should not risk more than 2% of your total account on any one trade. That means for a 100K account, the maximum you can risk per trade is $2K. If you wanted to put 20K on a stock, you would have to find a suitable trade where the maximum risk is no more than 10% as determined by your stoploss.

You may tweak this percentage up and down a little to suit your own risk tolerance and account size but I would strongly advise against anything over 5%.

b) as a % of any one trade?

Generally 5 - 10% is a common trade risk. If the trade shows an enormous potential, up to 20% may be acceptable. In such case, you would put 10K on the trade to satisfy the 2% Rule for a 100K account.

2. What is the maximum no. of stocks you will hold in your portfolio at any one time?

You want to diversify but at the same time, focus your capital into a handful of the most promising stocks. Otherwise your returns will be comparable to those of a fund manager.

3. What is the maximum amount you will invest in any given trade as a percentage of your total trading account?

You should never place more than 25% of your account on any given trade even if the 2% Rule shows more. For example, if you find a trade that has a 5% risk and you have a 100K account, placing 40K on the trade by following the 2% Rule is too much. So you would cap your position in such a case to a maximum of $25K. There is no such thing as a dead cert in this game so never plunge on one or two stocks. Have an absolute maximum amount you are prepared to bet on any one trade, and learn to harvest your winnings consistently over time, to grow your portfolio.

4. How will you maximize your returns in a winning position?

To generate significant growth in your portfolio requires placing sufficient capital on your trades. A good strategy is to prefigure your desired maximum position and pyramid a winning position up to it. For example with a 100K account, if you wanted to enter a trade that had initially a 20% risk, purchase 10K worth of shares and as the trade moves into profit, tighten your stoploss and buy additional 2 or 3 progressively smaller parcels at higher prices until you build your total desired position in the stock.

5. Risk to Reward: Ask yourself "is the trade you're considering worth the potential reward?"

If you're risking 2K on a trade that has the potential of making 10K, than you're probably fine. But if you're risking 2K and the potential reward is 1K, you would have to seriously question the viability of the trade. So again, have a rule in place, for example, to only consider making trades where the Risk to Reward Ratio is at least 1 to 3.

6. How will you vary the size of your bets to optimize portfolio growth?

Many traders never produce optimum growth in their portfolio because of not properly sizing their positions. They either risk too much or too little on each trade. As your account grows, so must the amount you invest in each trade. Otherwise your equity may increase or decrease to the point where the current amount you put on each trade becomes proportionately too large or small to be a good bet. And this will reflect in the shape of your equity curve.

To grow your portfolio without large swings in equity requires gradually increasing the size of your bets. As your trading account grows in value, add more money per trade. If your account decreases during losing streaks, add less per trade. How is this done? The same way as everything else when it comes to trading - by following Rules, or in this case, my super simple formula:

P = (A*R)/S

where

P = Number of shares to buy next trade (max. 25% account)

A = Account Balance in dollars

R = Max. percentage of total account you are prepared to risk losing on any one trade (the 2% Rule)

S = Difference between your entry price and stoploss price in dollars

Example - A 100K trading account and using the 2% Rule. Trade entry at $10.00 and a stoploss at $9.00

then

A = 100,000

R = 0.02

S = 10.00-9.00 = 1.00

P = A*R/S

= 100,000*0.02/1.00

= 2000 shares to buy.

You can tailor this formula to suit your own risk tolerance. If you feel risking 2% of your account on a trade is too much, use less, say 1%. Now as your account balance grows, you add more for your trades. If it decreases, you add less. By varying your position size with each trade win or loss, this approach will let you grow your account with discipline and confidence.

My trading blog Sharesmadeeasy provides free education to stock traders and investors.

Kamil Schumann is a professional US stock market trader in stocks and derivatives. Founder of http://sharesmadeeasy.com a free stock trader's blog that focuses on presenting trading knowledge and market experience in simple, easy to understand terms. Regularly highlights opportunities for trades in the US stock market.

Monday, October 25, 2010

Art of War: Easy To Read English Version

One of the greatest strategy books in the history of the world. Every person who has ever had to strategize in their job, their life, or their relationships must read this book. It is truly a book that everyone should read, and reread every single year. This edition is written in an easy to read English version so that everyone can enjoy this masterpiece by Sun Tzu.

Price: $9.99

50 Prosperity Classics: Attract It, Create It, Manage It, Share It (50 Classics)

A major new title from the author of the bestselling 50 Classics series, which has sold over 100,000 in the English language. 50 Prosperity Classics is the first book to highlight the landmark titles in this fast-expanding field, illustrated by the phenomenal success of The Secret. It focuses on the great works on wealth, entrepreneurship, personal finance, investing, economics and philanthropy, providing guidance and encouragement to develop the millionaire mindset, become a wealth creator, make wise investment decisions and - once you've made it - give a little back. Insightful commentaries on each classic, biographical information on the authors, plus a guide to further key titles provide a unique overview of this fascinating subject.

50 Prosperity Classics covers many of the great writings on wealth and abundance - encompassing books on the psychological aspects of creating wealth; more worldly titles on the nuts and bolts of personal finance, entrepreneurship and investing, and thought-provoking economics and political economy. 50 Prosperity Classics is about making your money and making it work for you, but it does not just show readers how to get rich, it also highlights why the creation of wealth can mean the fulfillment of personal potential and peace of mind. 50 Prosperity Classics gives concise summaries of each book's main points, their origins and what each can offer the reader on the path towards a life of abundance, organized according to four elements:
ATTRACT IT--Master the inner game of wealth and abundance with books such as Rhonda Byrne's bestselling The Secret, Charles Fillmore `s Prosperity, Napoleon Hill s The Master Key to Riches.
CREATE IT--Learn from the secrets and strategies of wealth creators such as Richard Branson, Bill Gates, Conrad Hilton, Anita Roddick and Donald Trump.
MANAGE IT--Discover the nuts and bolts of personal finance and investing such as Benjamin Graham's The Intelligent Investor, Suze Orman's Women and Money, Dave Ramsey's Financial Peace Revisited and Peter Lynch's One Up on Wall Street.
SHARE IT--Understand the flow of wealth and how to give something back with inspiration from Andrew Carnegie's The Gospel of Wealth, Paul Hawken's Natural Capitalism and Lynne Twist's The Soul of Money.

Price: $19.95

Sunday, October 24, 2010

Knowledge Management Online

This is a unique Knowledge-Management-Online site offering open source Km education and open source Km consulting methods, tools and techniques.

Saturday, October 23, 2010

The bottom line for children's programs: What you need to know to manage the money

Deborah Smith Pegues, author of the popular 30 Days to Taming Your Tongue (over 220,000 copies sold), now offers friendly, doable money management strategies in 30 Days to Taming Your Finances. Gi

Price:

Friday, October 22, 2010

Quick & Easy Budget Kit - 4 Steps to Manage Spending, Save Money and Build Financial Success

Price:

How to Manage Money and Also Save For Yourself

Today, many middle class people have well paid jobs. Also, computer related jobs have further boosted their salaries. However, we see people of the above mentioned category busy struggling to meet their monthly expenses. Some people are just living from one pay check to the next. They are trapped with all sorts of monthly payments such as home loan payments, car loan payments, credit card dues, consumer loan installments etc. All these expenses suck their cash out of their saving bank accounts. Also, people of high incomes still end up with a new job with higher salaries, their wants increases and finally their present expenses bring them back to square one.

In order to keep the right flow of your money, you must be aware of your monthly saving and expenditures and above all you must first think of saving before you can think of your expenditure. This attitude sounds unusual but it makes sense.

The basic way to manage money is to first write down your income and expenses on a piece of paper. Now, instead of thinking about your monthly expenses, you first arrive at your monthly expenses, you first arrive at your savings for the month. In other words, you must set your savings target for the month and then go ahead to spend the balance amount. Now, in order to feel comfortable while saving, you must identify your expenses. There may be certain expenses incurred which may have been done on needless and avoidable things. In such a case, you could cut down on those unnecessary spending. Thus, you could make a way towards reaching your monthly saving goal amount.

Secondly, you could make your research and also take help of financial advisors to be able to invest in liquid fund offered by mutual funds. You must choose an investment product that is suitable for you, especially in terms of risk taking. In order to meet your goals, you can take help of investment avenues by investing small amounts at regular intervals. Even if you have a modest balance in your savings bank account at the end of the month yet you must not shy away from investing in financial products. You can mainly do it if you cut down on those expenses which are not necessary.

Even if you want a latest electronic gadget, you must save a bit and then buy the product within a few months time. By this way, you will keep your saving goal steady and you will also be able to buy your wants after having planned and saved over a period of time.

Thirdly, you must avoid impulsive expenditures. It may be with regard to your dream holiday or a new electronic gadget that you would like to purchase. You may be having a strong desire to spend on the above mentioned goals but such expenses can make a big hole in your pocket. In order to achieve your above mentioned want, you could set aside a small amount each month. Remember, irrespective of your expenses, you must not disrupt your monthly savings plan. Your saving plan should have a top priority over all other expenses. Also your saving strategy should not choke you. In other words, don't save to the extent where you feel the pain. You cannot make your saving strategy into a punishment by depriving yourself completely from those expenses where you could indulge in for a better living. Money is very important to all of us and we need to spend it wisely and well enough.

Amit Bhawani is a Professional Blogger who writes different What is Guides and answers different questions asked by professionals at Answers Next which is a free Questions - Answers Portal where you can Post Questions & also share your knowledge by answering to others questions. You can find related content at AnswersNext.com.

Thursday, October 21, 2010

Holiday Debt - How to Manage Money

The 12 Debts of Christmas Part Three

Holiday Debt - How to Manage Money

I just spent my next months wages

Fa-la-la-la-la, la-la-la-la

And this spending feels contagious

Fa-la-la-la-la, la-la-la-la

I just bought a diamond necklace

Fa-la-la-la-la, la-la-la-la

I think that my spending's reckless

Fa-la-la-la-la, la-la-la-la.

My credit cards are at their limit

Fa-la-la-la-la, la-la-la-la

All my gifts should have been hand knit

Fa-la-la-la-la, la-la-la-la

Now at least I have a reason

Fa-la-la-la-la, la-la-la-la

To be sad this Christmas season

Fa-la-la-la-la, la-la-la-la

Sixteen days until Christmas. The evenings are getting colder, the days shorter and I bet your wallet is bulging with receipts. Right now is when you should do something to remain in control of your spending. You don't need to break the bank this year and here are a few ways that will help you discover how to manage money and keep out of debt when the credit card bill comes this January.

HOLIDAY DEBT TIP 5: Combine Your Balances

You might have 3 or 4 separate credit cards with unpaid balances. It's time to combine them into one. Before you head out to the malls with a bulky wallet in you pocket or purse, look for one 'low interest rate balance transfer credit card'. After you discover one that is right for you transfer each of those balances onto the one credit card. After all, making one monthly payment on one single credit card will be far more productive than attempting to pay the balance off of more than one card.

If you can't find a 'low interest rate balance transfer credit card' then you should use another approach. Snowballing your debt (now that's Christmas irony) or Debt Stacking. In short, Snowballing or debt stacking is the process of making a large payment to one credit card while continuing to make the minimum payments on each of the other credit cards. When you've paid off that first card take that total amount and add that payment to the next credit card. Repeat the same process until each of the credit cards have a balance of zero. The only way this will work is if you don't add more debt. Unfortunately you will not notice the progress until next year but I can promise that it works and is a terrific way to learn how to manage money.

HOLIDAY DEBT TIP 6: Buy in Bulk

Now, more than any other time of the year is ideal for buying in bulk. You might spend slightly more, but it will make next month a breeze for when you shop. Every purchase made should be on sale and in bulk. Grocery stores all want you to shop with them and put out the best flyers in December. Spend a day searching for amazing deals. There are lots of coupons or deals you can find on the Internet to help lessen the cost. Those coupons can be anything from candies, to steals on electronics and even shoes. Take a few minutes every day to find these deals. Every penny you save makes it all worthwhile. Christmas can be very expensive because we all tend to spend more than we had hoped but by finding deals you can lessen the burden on your wallet.

In my next post there is a fun filled carol you can sing with family and friends and there will be a couple more tips on how to manage money and stay debt free this Christmas!

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You can pay off your debts and save money at the same time! Say goodbye to your boss forever! A blog that will show you the secrets of the wealthy: http://www.howtomanagemoneytips.com

Get a free budget sheet, net worth calculator, tools and more: http://www.howtomanagemoneytips.com/ebook2.html

Wednesday, October 20, 2010

Manage Wealth, Manage Money - Learn the Basics of Wealth Creation

Those words would seem atypical of someone who is already rich and well off, but that is a popular misconception. Whether large or small, any amount of money that you have should go through an exhaustive wealth management system - it is the lifeblood of any individual in the capitalist society we live in and we should keep an eye on it. The basics apply; if you can manage wealth manage money - and you would have learned the strategies and formulas that have brought the rich to where they are today.

Managing your money means putting parts of it into various investment opportunities. This can come in the form of the property market, currencies, precious metals, tradable commodities. A diverse portfolio is key to opening up multiple revenue streams that is both lucrative and can give you added security in case one or two of your investments fail.

Now here's the thing, you would think that to do such a thing, you would need vast amounts of money - but that's not true. Not in the slightest bit. The market for the modest trader and investor has opened up of late. The basics of wealth creation is that you should always find channels for small investments that will give you a good rate of return. For example, you may not be able to invest in newly mined gold or diamonds or even property for that matter, but you can put small amounts in companies that do, and earn a reasonable rate of return. And you have just eliminated a whole lot of risk from your portfolio.

It is these channels that anyone focused on creating wealth should know about. Opportunities are all over, both off line and on line for anyone to make money. That is the start we all need to take on bigger and even riskier investments that promise better returns. Your money should be making money for you at any point. It could be earning interest from a money market account, or it could be a return of investment on some small scale online trading you have done. Whatever you put in should yield you profit, no matter how many investments you have. If one isn't working out, shut it down and use the money to look into other areas.

That is the kind of money and wealth micro management we should all be looking into. And if you aren't sure of yourself and want to be guided along, help is always at hand. There are a few select wealth creation home programmes that give you the mindset of a millionaire. Success in this case can be taught and knowledge will drive ambition to heights never known before. Some of these programme authors have made millions due to effective wealth management - and they are willing to impart this knowledge to you. Do a bit of research and read a few testimonials, you should be able find one in no time. The thing about the internet is that it is really big on reputation - word of mouth and referrals play a huge role in pointing people in the right direction.

That's what you need - the right direction to head to. And these wealth management home programmes can do just that.

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Secrets of Basic Management Skills Training Course!

Become a successful and respected manager by learning powerful secrets of decision making, problem solving, and critical thinking skills. Take charge of your future now!

Tuesday, October 19, 2010

The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future

The Investment Answer shows you, in clear and understandable language, how to take control of your finances and think about investing in a different way. Whether you are new to finance or an experienced investor, this book is essential reading. Former United States Senator Bill Bradley says that “every American should read this book,” and Bob Waterman, co-author of In Search of Excellence, remarks, “if I could give only one book on investing to my friends and family, this one would be it.”

This book cuts through the Wall Street hype to give you just what you need to know. Joe Grundfest, Stanford Law School Professor and former SEC Commissioner, says that “Gordon Murray and Dan Goldie share secrets that Wall Street would rather you not know. Read this book and prosper.”

The Investment Answer will teach you to take advantage of how markets really work and how to benefit from the wisdom that Nobel Prize winners have acquired over the last 60 years. Nobel Laureate and Father of Modern Portfolio Theory, Harry Markowitz, remarks that “the book offers sound advice, which you will rarely if ever get from a daily financial newscast.” Gene Fama, widely recognized as the father of modern finance, says that the book is “an excellent primer for the investor who is not a finance specialist.”

You probably know the important measures of your physical health: your weight, blood pressure, and cholesterol levels. But do you know the important measures about your investment health? Is your advisor is a fiduciary who really works for you or for his firm? What is your percentage mix of stocks, bonds, and cash? How much you are paying in fees and investment-related taxes?

Most of us can't answer these important financial questions...but we must. This book will help you become a smarter investor and a better steward of your money.

Price: $16.95