Most people would never consider installing a new transmission in their car by themselves. They don't have the time or skills, so they hire a mechanic for peace of mind. Many of today's investors take the same approach to investing and get expert advice from an experienced financial adviser.
The 77 million Americans who are preparing to enter retirement want to ensure their savings won't run out. The average investor, however, doesn't understand market fluctuations or complex financial products. Studies show that those who seek the advice of a financial adviser are more confident about their financial futures-but how do you find the right person for the job?
Step 1-Identify your needs. Whether you need assistance with retirement planning or saving for your children's education, you should define your financial objectives before you begin your search for an adviser.
Step 2-Ask friends, family and co-workers to make recommendations. Your financial adviser should be someone you trust-you're putting your hard-earned money in their hands.
Step 3-Interview at least three advisers before making the final selection.
During the interview process, there are many factors to consider. Look for an adviser who has extensive experience in multiple areas, including investments, insurance and retirement planning. You will also want to inquire about the adviser's licensing-he or she should have a Series 6 or 7 registration in good standing. You can check an adviser's record by contacting the National Association of Securities Dealers (NASD) at (800) 289-9999.
Once you've confirmed that the adviser has a good track record, it's time to delve deeper into his or her personality. A good adviser will consider all aspects of your financial situation and design a customized plan to help you achieve your goals. He or she will provide the same level of service to all clients, regardless of how much they invest. It's also critical that your adviser's "investment philosophy" is consistent with your own. For example, an adviser who favors risky strategies is not a good match for a conservative investor.
Thursday, September 17, 2009
Saturday, September 5, 2009
7 Tips For Better Online Banking
Banking has never been easier than it is today. Online banking allows you to access your bank at any time of day or night. You can even do this dressed in your underwear if you like. And if you choose to do it that way, it’s just as well there are no lines to wait in for online banks.
1. Probably the first thing to consider with online banking is the convenience. You can access your bank via the Internet at any time of day or night, even while lying in bed if you like.
2. Transaction performed online are generally much cheaper than those done over the counter at a bank branch. You can pay bills, transfer cash, check balances, and much more for much less.
3. Online savings accounts is something worth considering. The interest rates are usually higher and the fees are lower than traditional bricks and mortar bank branches.
4. Your computer has convenient ways to help you remember your login details. But don’t use the “remember my password” option if your computer suggests it. Keep your bank login details very safe and very secret.
5. Most online banks will allow you change your password. This is a very good idea and something you should do regularly. Of course, you must also remember your new password each time it is changed.
6. Logging on to your online bank is easy and very convenient. But after you have completed your business, remember to log out of your online bank again. This is especially important if you access your bank from a library, at work, or in a cyber café.
7. Enjoy your online banking, but beware of any email you receive asking you to verify your bank details by clicking a link. The site may look authentic, but it will probably be a fake. Respectable banks don’t ask anyone to verify details by email.
1. Probably the first thing to consider with online banking is the convenience. You can access your bank via the Internet at any time of day or night, even while lying in bed if you like.
2. Transaction performed online are generally much cheaper than those done over the counter at a bank branch. You can pay bills, transfer cash, check balances, and much more for much less.
3. Online savings accounts is something worth considering. The interest rates are usually higher and the fees are lower than traditional bricks and mortar bank branches.
4. Your computer has convenient ways to help you remember your login details. But don’t use the “remember my password” option if your computer suggests it. Keep your bank login details very safe and very secret.
5. Most online banks will allow you change your password. This is a very good idea and something you should do regularly. Of course, you must also remember your new password each time it is changed.
6. Logging on to your online bank is easy and very convenient. But after you have completed your business, remember to log out of your online bank again. This is especially important if you access your bank from a library, at work, or in a cyber café.
7. Enjoy your online banking, but beware of any email you receive asking you to verify your bank details by clicking a link. The site may look authentic, but it will probably be a fake. Respectable banks don’t ask anyone to verify details by email.
7 Tips on Preventing Identity Theft
In the course of the day, you do many activities that put your personal information at risk - from writing a check at the store to charging merchandise in person or over the phone. You may not think twice about these transactions, but others might.
Identity theft - when a perpetrator assumes someone's identity for personal or financial gain, like stealing a credit card to make financial transactions in the victim's name - is the fastest-growing crime in America.
According to the U.S. Postal Inspection Service, there were almost 10 million cases of identity theft in 2004, which cost consumers $5 billion.
The National Citizens' Crime Prevention Campaign, sponsored by the National Crime Prevention Council, aims to educate consumers about what they can do to prevent identity theft. The council offers the following tips.
* Do not give out your personal information unless you initiate the contact or know the person or company with whom you are dealing. Also, never disclose personal information, such as a Social Security number or bank account number, in response to an email. Legitimate businesses will not ask you to do this.
* Do not disclose your credit card number to an online vendor unless it is encrypted and the site is secure. Look at the first part of the Web address on your browser. It should read "https://."
* Do not write your Social Security number or telephone number on checks or credit card receipts.
* Remove all documents with personal information from your hard drive before discarding your computer or sending it in for repair.
* Shred discarded documents, including preapproved credit card applications, bank statements, store receipts and utility bills. "Dumpster divers" can gain access to your personal information if such items are thrown in the trash.
* Cancel all credit cards that have not been used in the last six months. Open credit is a prime target for thieves.
* Order your credit report at least twice a year and report any mistakes to the credit reporting agency in writing.
If you are a victim of identity theft, contact your local police department as soon as possible. If your identity was stolen in one jurisdiction but used in another, you may have to report the crime in both jurisdictions.
Identity theft - when a perpetrator assumes someone's identity for personal or financial gain, like stealing a credit card to make financial transactions in the victim's name - is the fastest-growing crime in America.
According to the U.S. Postal Inspection Service, there were almost 10 million cases of identity theft in 2004, which cost consumers $5 billion.
The National Citizens' Crime Prevention Campaign, sponsored by the National Crime Prevention Council, aims to educate consumers about what they can do to prevent identity theft. The council offers the following tips.
* Do not give out your personal information unless you initiate the contact or know the person or company with whom you are dealing. Also, never disclose personal information, such as a Social Security number or bank account number, in response to an email. Legitimate businesses will not ask you to do this.
* Do not disclose your credit card number to an online vendor unless it is encrypted and the site is secure. Look at the first part of the Web address on your browser. It should read "https://."
* Do not write your Social Security number or telephone number on checks or credit card receipts.
* Remove all documents with personal information from your hard drive before discarding your computer or sending it in for repair.
* Shred discarded documents, including preapproved credit card applications, bank statements, store receipts and utility bills. "Dumpster divers" can gain access to your personal information if such items are thrown in the trash.
* Cancel all credit cards that have not been used in the last six months. Open credit is a prime target for thieves.
* Order your credit report at least twice a year and report any mistakes to the credit reporting agency in writing.
If you are a victim of identity theft, contact your local police department as soon as possible. If your identity was stolen in one jurisdiction but used in another, you may have to report the crime in both jurisdictions.
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