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Further
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DialResults and Datamanagement Services Merge - Richard Logan
From: Richard Logan November 19, 2003 3:27 PM Subject: RE: Press Release http://www.dialresults.com DialResults, Inc. and Data Management Services http://www.data-man.com announce merger. DialResults, Inc., a leader in the predictive dialer...
Why should I get a second mortgage? It's a good way to pay off high interest debt. - Syd Johnson
Second mortgages are basically any type of home loan that you take out while still making payment on the primary mortgage. This is not an arrangement to be entered lightly because you will end up paying a lot of fees and can rack up a huge debt that...
Now YOU Can Invest Like The Rich at a FRACTION of the cost! - Dave Laforge
Through the use of the little known and private world of Bank Debenture Trading Programs the average person has been given the opportunity to invest in the same arena as the "Big Boys!" These Bank Debenture Trading Programs used to be out of the...
Mortgage After Bankruptcy - BkHome
Most people probably assume that obtaining a mortgage to purchase a home, refinance or to consolidate debt after a bankruptcy is out of the question. In fact, many people are able to obtain these mortgage services, even 1 day after a bankruptcy...
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Financial Planning and Investing
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Written By:
Ioannis Evangelos Haramis
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What exactly is financial planning, and why is it so important?
Financial planning is the process of determining how to manage money, investing, present and future financial goals, and the strategy that should be undertaken to obtain them.
Because our goals and desires change as we do, financial planning and investing is a task that is never finished. How we are financially able to reach these goals, and the risk we are willing to take to get there, necessarily means that any financial plan must be specifically tailored for an individual or family.
Financial planning begins by taking into account each individual's assets and liabilities at that particular point in time.
The asset category includes life insurance and monetary investments of all kinds, along with physical assets such as a home, automobiles and other items.
Liabilities may range from personal loans, credit card debt, and loans taken to obtain hard assets, such as mortgages.
Next is where sources of ongoing income and increases in hard asset wealth enter into the equation. Income most usually is earned by employment, but other sources, such as possible inheritances, must also be considered. Increases in hard asset wealth, such as rising home prices, will be affected by general economic conditions as well as owner enhancements.
From here, things get trickier, and this is where the true planning begins!
Our particular stage in life -- whether we are young, old, or somewhere in the middle -- will usually lead us to desire a particular set of goals. Financial planners often break down our life cycles into distinct phases. Which phase we are in is often determined by age but will also be dictated by how much risk we are willing to assume.
Younger people are most often described as being in - continued below ...
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continued ...
an accumulation phase. Their earnings have not yet hit their peak, but at the same time they are striving to obtain both hard and soft assets.
Examples here include saving for a new home or a child's education. Risk assumed here will be tempered by the time constraints of these goals as well as individual risk tolerance. In general, the longer the time frame, the more investments in the aggressive category may be considered.
The other phases extend to middle age and beyond to retirement. Our middle age years often find us at the peak of our earning power, with many of our former goals satisfied. This will mean greater savings are possible, and as time progresses towards retirement, our tolerance for risk will necessarily diminish.
Financial planning takes all of this into account and more. Other factors, including planning for health care and other insurance needs, preparation for emergency expenditures, tax and estate planning and the like will all be part of the strategy.
Unexpected windfalls may also enter into the picture. Saving for retirement becomes increasingly important as the time earned income will end draws nearer.
All of these variables add to the importance of financially planning across all stages of one's life. It is a concept that encompasses your total financial picture -- both in the present and for the future.
About the Author
Copyright © 2005 I.E.C. Haramis
haramis@greekshares.com
http://www.greekshares.com
Ioannis - Evangelos C. Haramis was born in Greece in 1951. Studied Business Administration, Marketing and Economics in Greece, USA and in Belgium.
He has been active in the stock markets since 1972. Since 2002 he is New Business Development Managing Director at an Investment Bank.
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| _Additional Resources ... |
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Business Transactions in Germany – How to TRIPLE Your Success! - Marcus Hochstadt
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It's still happening. "Florida," "Boston," "Ginger," and "Brandy" are just a few of the many Google updates that have hit within the last few months. And Google is still issuing periodic updates as we speak. No one can say for sure whats going on...
IRS Free File Is Not A Free-For-All - Wayne M Davies
Looking for a way to reduce the cost of income tax preparation this year? Then you came to the right place -- maybe! The IRS has launched a new program this year -- it's called "Free File", and it enables you to prepare and e-file your personal...
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