Estate planning in simple terms is the activity of managing or arranging one’s assets in prior to their death or incapacitation. Estate Planning is very important as our death is unexpected and can happen at any time. In the event of your death, the planning you have done when alive becomes the most important document. If you fail in investing your time to prepare a proper estate plan, the assets which you own may be distributed according to the laws.
Some are born into money, others build their businesses from the ground up. Still, being rich takes a degree of financial finesse to manage properly. Where someone’s money comes from can give you a clue as to how secure their wealth is. With some, it’s tied up in companies, in others, ventures and stock. Investment portfolios of the rich can also provide key insight into how the money is managed. This list will show you just how the world’s richest people got their money, how much they have, and what companies they’re involved with. Take a look, some of the results may surprise you!
What would your portfolio look like had you invested in some of today’s biggest companies a decade ago? Those companies may not have seemed promising ten year ago but have sure excelled beyond expectations. If you invested 1K in these companies 10 year ago this is what your investment would look like today. These numbers are based on the Compound Annual Growth Rate (CAGR) which is the rate of return required for investment to grow from beginning balance to ending balance, assuming profits were reinvested at the end of each year. For instance, say you had invested 1K into Netflix in 2008 then your current portfolio value based on a CAGR of 53.87% would be $74,394.38.
A simplified employee pension is a retirement plan made for business owners and self-employed individuals. The employer only is allowed to make the contributions in this plan to eligible employees. It is the most preferred plan for many business owners because setting up this plan is totally free and the contribution limits are higher than others. The rules for this investment plan are same as the traditional IRA since it is one of the types of it.
Know Your Customer (KYC) is the process of a business identifying and verifying the identity of its clients. “KYC” refers to the steps taken by a financial institution (or business) to establish the identity of the customer.
Tax Liens are liens imposed on properties which has an unpaid tax debt in it. The Internal Revenue Service (IRS) is a government body who closely monitor the tax details of each and every property. If they found any properties with outstanding tax amounts, they will remind the taxpayer to settle the due within time by sending a series of notices. After the final federal notice, if the tax amounts still be the same, they will put a lien against the property. Once the lien is placed, the owner must pay the full tax amount with penalties and interest to the investor to get rid of the lien.
To recoup past due property tax charges, State County authorities frequently sell properties at tax lien auction. The base offer at the auction is generally determined by adding the delinquent tax amount to the expense of the auction. Financial investors show more interest in buying the delinquent properties in auctions as they can buy properties less than the present market prices. Visit, https://rei-holdings.com/
Tax planning is a type of financial planning where you will analyze your tax situation in order to improve your financial condition. It is common to pay taxes in business as per government rules. But a business organization can lower its tax payment and increase the profit with an effective tax planning strategies.
A great number of Americans choose to ignore their medical bills because of the high costs. Since it is not the best solution, DLL Green Finance provided an infographic with some smart strategies to tackle this issue.
There are a lot of things to learn about tax lien investing and it will take time to thoroughly understand the process behind that. Even though you take the time, tax lien investment is one of the safe and profit oriented investment opportunities. If you have a proper knowledge in investment then you can create multiple streams of income.
A Tax Lien Certificate is a certificate of claim against a lien property which has an unpaid tax amount. These amounts can be either paid by the property owner or the investor. If the lien on a property is unpaid by the property owner the investor may get an opportunity to invest in it by paying the pending tax amount on behalf of the property owner.
Many people find excuses to implement a financial plan early, as they think they are too young or don’t have adequate financial status to start one. But it is not true; actually planning earlier is the best way rather than much later. Financial Plan is a simple way that will help you to accomplish financial freedom and safeguard your future from undermined and determined problems. Undermined problems can be anything from accidents, conflicts, assets damage, etc and determined problems like business conflicts, retirement, investment, health issues and more. To deviate from this kind of problems you need to be financially stable and this can be achieved only with the financial plan.
When it comes to buying property, it isn’t as simple as handpicking a home that falls in line with your budget. In many cases, you must get “credit ready” before looking into various mortgage options.
To start off, you need to paint your borrowing history in a positive light so that mortgage lenders can work with you without hesitation.
Preparation is key to giving yourself the best chance of getting a mortgage and finding the best deal possible.
Many people missed to prepare and unfortunately in some cases fail to get the mortgage they want.
Here are steps to help you prepare for a mortgage:
Business financing is the credit money availed from a lender to continue business operations, grow and diversify operations, and also expand the business. It usually means receiving external money for the business in the form of a business loan.
The State Counties possess a strong enforcement system to impose tax liens on delinquent properties. Buying a property tax lien is equal to have legal claim against that property. It gives the lien holder privilege to re-collect the tax amount in addition to the interest amount. Visit, https://rei-holdings.com/
A solo 401k retirement investment account is the best plan for business owners and self-employed individuals. The most distinguishing feature of the plan, when compared to other traditional retirement plans, is the contribution. In addition to the employer contribution, this plan allows the employees to make contributions. It is also known as individual 401k, solo-k, uni-k and One-participant-k. This plan enables the contributor to use their retirement savings to invest in various investment opportunities such as real estate, tax liens, tax deeds.
Auto Insurance is an insurance product that pays for damages to your vehicle and other vehicles in the event of an accident or non-accident related injury. This auto insurance has various coverage options included and it is up to the vehicle owner to decide how their vehicle is to be covered. Based on the coverage, the insurance company will decide how much amount will pay for the person.
Most of the people who want to become rich and successful would know about the importance of financial planning and how it will help them to be successful in their life. Financial Planning is not just a plan that keeps track of your earnings, savings, and expenses; but also a mere way to help us to set a goal – Financial goal and its related strategies that will help them to pursue that goal. Financial success is nothing but how to reach your goal effectively by your plans.
A federal tax lien is a way to collect the back taxes used by the Internal Revenue Service (IRS) or County Government. If you received a notice of federal tax lien on your property, do not take more time to take further action. Because getting the lien on your property will affect your credit report and the rights you have on your property. A lien not only attaches to the personal property but also real estate and financial assets. To prevent the lien on your property make sure you are paying the taxes regularly.