Leadership Development...
is the key to 21st. Century Success in business. Harness the power of your peers to help you develop your employees, managers & successors!
| D-I-Y Strategic Planning...
allows you to make strategic decisions about your company's direction every time - all with the help of your peers!
| You'll Make Better Decisions...
when your ideas are challenged and your assumptions tested, continually and strategically - by a caring group of your peers!
|
|
FINANCIAL PLANNERS! HOW DO YOU TELL THE DIFFERENCE?
By Peter F. Baigent CFP, CLU, CHFC, RFP
First Published Fall 1993
Eight years ago I was discussing a recommendation with a Judge. He made the comment that he was reluctant to accept recommendations from a 'Financial Planner' because he knew of a lawyer in Vancouver who had been disbarred for misuse of his client's trust funds and was now doing business as a 'financial planner'. Unfortunately, anyone can call themselves a 'Financial Planner. This is true of many professions. Anyone can hang out a shingle as an Accountant. But, they cannot call themselves a Chartered Accountant unless they have completed a course of studies and are a member in good standing of their professional association. It is a shame that, after all of the financial degrees and courses I had taken that I still had to compete with a disbarred lawyer. When I left the meeting with the Judge I was determined to do something to make sure I would stand out above the crowd.
It is sad to say but many in our business are not very honest and even more are motivated to sell the client only those products that pay them the most money. Some stockbrokers would have people believe they are 'Financial Advisors' when in fact they are simply stock salespeople. Most have almost no training in Taxation or Estate Planning, both of which impact a great deal
Our articles continue...
|
Financing Your Child's Education<p>Did you know that a four year degree at a public university may cost upwards of $100,000 in 18 years? That's bad news for new parents who expect their kids to go to school, but fortunately it isn't that hard to save up the money needed for college if you start early. Time is on your site if you start early, but it becomes your enemy if you wait too long. So, here's <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/od/savingforcollege/a/Financing-Your-Childs-Education.htm">how to finance your child's education</a>.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm">Financing Your Child's Education</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/">About.com Financial Planning</a> on Monday, April 30th, 2012 at 14:51:31.</p><p><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm&zItl=Financing Your Child's Education">Email this</a></p>Get Help Getting Out of Debt<p>Credit card debt is one of the biggest problems most people face when trying to get a handle on their finances. Credit cards make it easy to spend more money than you have, and then the crippling interest rates and fees make it seem impossible to get out from under. While there isn't an instant cure for credit card debt, there are steps you can take to put yourself on a path to becoming debt free.</p>
<p>It takes a little planning, a little budgeting, and some time, but if you keep at it you'll find that you're getting out of debt faster than you had imagined. <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/od/creditdebtmanagement/qt/how-to-get-out-of-debt.htm">Here's the process to help you eliminate your credit card debt</a>.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/22/get-help-getting-out-of-debt.htm">Get Help Getting Out of Debt</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/">About.com Financial Planning</a> on Sunday, April 22nd, 2012 at 20:08:55.</p><p><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/22/get-help-getting-out-of-debt.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/22/get-help-getting-out-of-debt.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/04/22/get-help-getting-out-of-debt.htm&zItl=Get Help Getting Out of Debt">Email this</a></p>Mortgages for Military Personnel and Veterans<p>Mortgage rates continue to sit at historic lows, and it's a good time to buy a home if you're in the market for one. One of the most difficult aspects of buying a home is dealing with the mortgage process. There are countless loan options and lenders, and finding the best deal can ultimately save you tens of thousands of dollars.</p>
<p>Thankfully, the government steps in to help make the process a little easier for military personnel and veterans by offering a <a href="http://clk.about.com/?zi=1/1hc&zu=https://www.vamortgage.com/va-mortgage-loans">VA home mortgage</a>. Those who qualify are: Veterans, active duty personnel, certain reservists and National Guard members, surviving spouses of persons who die on active duty or die as a result of service-connected disabilities, certain spouses of active duty personnel who are (a) missing in action, (b) captured in line of duty by a hostile force, or (c) forcibly detained by a foreign government or power.</p>
<p>The VA loan program is relatively simple. You simply shop around through private lenders and once you provide eligibility, VA steps in to back the loan. What this means is if something happens and you find you are unable to make the payments, the lender can then turn to the VA for any losses that may occur. This type of insurance is what makes banks more willing to lend money since they know they are protected.</p>
<p>There are also a number of other benefits of a <a href="http://clk.about.com/?zi=1/1hc&zu=https://www.vamortgage.com/">VA mortgage</a>. You can often buy a home without a down payment as long as the appraised value doesn't come in below the sales price. This can be quite a help to those who might be returning home from deployment but may not have set aside the funds for a down payment yet. In addition, because these loans are "insured" by the VA you won't need to pay <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/od/realestatemortgages/qt/Eliminate-PMI.htm">private mortgage insurance</a>, which can be a costly addition to any mortgage. Finally, there are also limits as to how much you can be charged for closing costs, and in some cases closing costs may be paid entirely by the seller.</p>
<p>As you can see, there are a number of benefits available through a VA loan program. While the basics of buying a home still apply, there are certainly some added features and benefits that make buying a home with a VA mortgage a little more attractive.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/13/mortgages-for-military-personnel-and-veterans.htm">Mortgages for Military Personnel and Veterans</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/">About.com Financial Planning</a> on Friday, April 13th, 2012 at 11:26:31.</p><p><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/13/mortgages-for-military-personnel-and-veterans.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/13/mortgages-for-military-personnel-and-veterans.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/04/13/mortgages-for-military-personnel-and-veterans.htm&zItl=Mortgages for Military Personnel and Veterans">Email this</a></p>Where Do Your Social Security Taxes Go?<p>If you work and earn income, you are probably aware of the Social Security taxes that come out of your paycheck. Social Security Taxes, otherwise known as FICA Tax (Federal Insurance Contributions Act) is paid by employees and employers to fund the Social Security and Medicare programs. Since a fairly large portion of your income goes towards this tax, it is important to understand where it actually goes, and what benefit it may provide to you.</p>
<h3>Social Security</h3>
<p>The bulk of your FICA Tax money goes into the Social Security program. To be exact, roughly 85 cents of each dollar goes toward Social Security. The money that current wage earners put into the program goes into various trust funds that pay the monthly benefits to current retirees, families, and surviving spouses and children of workers who have died. Costs associated with administering the plan come directly from the trusts.</p>
<p>The administration claims that for each Social Security tax dollar you pay, less than one cent goes toward administration costs.</p>
<h3>Medicare</h3>
<p>The remainder of the FICA Tax money you pay, roughly 15 cents of each dollar, goes into the Medicare program. Like Social Security, the money paid by current wage earners goes into trust funds that pay for some hospital and medical care costs incurred by current Medicare beneficiaries.</p>
<h3>Plan Ahead so You Don't Need to Rely Solely on Social Security</h3>
<p>When you take a look at all of the money that you pay into Social Security to hopefully provide for old age retirement benefits and medical coverage, you better hope that you get every penny back and more. Well, if you still have some time yet until retirement, it is impossible to know what the future holds for these programs. The best thing you can do is to put some money aside for the future to supplement any benefits that you may receive. One way to do this is to open a <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/od/retirementplanning/a/traditionalira.htm">Traditional IRA</a>. Not only will you save some money on taxes right now, but you'll have a nice stash of money to supplement your government benefits.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/08/where-do-your-social-security-taxes-go.htm">Where Do Your Social Security Taxes Go?</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/">About.com Financial Planning</a> on Sunday, April 8th, 2012 at 20:13:11.</p><p><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/08/where-do-your-social-security-taxes-go.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/04/08/where-do-your-social-security-taxes-go.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/04/08/where-do-your-social-security-taxes-go.htm&zItl=Where Do Your Social Security Taxes Go?">Email this</a></p>What to do With Your Tax Refund<p>This is that time of year when you may be anticipating a beefy tax refund that could be anywhere from hundreds to thousands of dollars. The next question you may be asking is what to do with the money you get back from the IRS. You have a lot of options, and some are better than others. Here are a few ideas on <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/od/taxplanning/a/Spending-Your-Tax-Refund.htm">how to spend your tax refund</a>.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/03/29/what-to-do-with-your-tax-refund.htm">What to do With Your Tax Refund</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/">About.com Financial Planning</a> on Thursday, March 29th, 2012 at 21:41:59.</p><p><a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/03/29/what-to-do-with-your-tax-refund.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&zu=http://financialplan.about.com/b/2012/03/29/what-to-do-with-your-tax-refund.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/03/29/what-to-do-with-your-tax-refund.htm&zItl=What to do With Your Tax Refund">Email this</a></p>
on any investment recommendation. Many Life Insurance Agents hold themselves out as 'Financial Advisors' after taking a single course on insurance. Banks promote some of their people as 'Financial Advisors', when in fact they have taken a simple course in Mutual Funds and have in most cases no experience beyond that bank's products. There are some very good and well qualified people in all of these professions and financial institutions. But, the point is, how do you tell the difference? Shortly after the incident with the Judge, I joined the Canadian Association of Financial Planners (CAFP). As a member I was required to subscribe to their code of ethics and answer to their disciplinary committee. In this way my clients would know that I had attained a certain level of competence and that they could report me to the Association if I did something wrong. The Association grants the RFP (Registered Financial Planner) degree. To maintain that degree I must be a Regular member of the CAFP and have at least one Academic degree (such as CFP, CLU, CA. etc) in one of the disciplines. 1 must then have at least two years experience with a firm and have passed a six hour competency exam, which covers all areas of financial planning. In addition, I must produce proof of at least $1,000,000.00 of Errors & Omissions Insurance, subscribe to the Code of Ethics and adhere to the “Six Step Process”. Each year I must prove that I have kept up to date with new developments through their requirements for continuing education. Ten years ago there was no industry as it emerged because the average investor required someone to guide them through the complexity of the tax regulations and investment choices. I think the growth of the industry is due in no small part to the growth in service industries. As everything in our daily lives becomes so specialized we need to turn ever more to people who specialize in areas we need help in. Today the association is recognized as the national organization for the regulation and development of in Canada. It is possible to phone in any major city in Canada to Inquire if someone is a regular member, an associate member in good standing, or is even a member at all. In British Columbia the Association is called the British Columbia Association of Financial Planners. The phone number is (604) 684-8843. Last month I was honored to be elected President of the British Columbia Association of Financial Planners. Bring on that disbarred lawyer! Copyright 2004 – www.money-software.com
Peter F. Baigent CFP, CLU, CHFC, RFP. is a Past President of the Canadian Association of Financial Planners for British Columbia, a former Director of the Canadian Association of Financial Planners. He has spoken across Canada on financial planning matters and has taught courses for the Chartered Financial Consultants & Certified Financial Planners degrees. He is the founder of Money Minders Software which produces financial planning software.
Here are some more financial planning articles...
What Past experience Does Your Accountant Receive?
Tax Planning, Taxes and Accounting Are About PoliticsSome countries with social security systems, which furnish revenue to retired workers, capital those systems with limited thoughtful Read more...
|
What is Your Financial Planner's Course To Financial Planning?
Accountant, Tax Planning, & PoliticsRole of former floor manager accountant is key signature. The model methodology to disentangle a creditable accountant is via word-of- mouth and along Read more...
|
Business is Novel In Russia
Accountant, Tax Planning, & PoliticsI think the best dealings you can signify with your accountant is modeled over and above Yoda and Luke Skywalker. A forensic accountant is foreseen to be a Read more...
|
What Is The Average Retirement Age?
By Sandeep
2006-11-14 Knowing the average age at retirement for a given population provides important information for administering and analyzing Read more...
|
| account accountant certified payable public news: |
Montgomery County names interim planning director
The Montgomery County Planning Department has named Planning Department executive Rose Krasnow interim director, following the resignation last month of Director Rollin Stanley.
Krasnow, who has worked at the Planning Department since 2004, will start as interim director Monday.
Stanley resigned to take the planning director job in Calgary, Alberta, Canada's third largest city.
Montgomery County's planning board has begun a nationwide search for a permanent replacement and expects to name a new...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=3wuhez6cFgM:ql8CWFXOwRY:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=3wuhez6cFgM:ql8CWFXOwRY:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=3wuhez6cFgM:ql8CWFXOwRY:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
</div>Uberoffices to open in Arlington, with twist on model
If you find it tough to keep track of the comings and goings of D.C.?s new batch of incubators, accelerators and co-working spaces, I don?t blame you. More and more founders are turning ideas into startups, and they have a wider array of options now for a cheap desk and Wi-Fi connection.
So how does one workspace distinguish itself from another? Uberoffices is hoping to stand out by adding a menu of affordable services. The project, spearheaded by GOP consultant and entrepreneur Raymond Rahbar,...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=54W2IGbcgAs:QNDZrzZjMJ4:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=54W2IGbcgAs:QNDZrzZjMJ4:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=54W2IGbcgAs:QNDZrzZjMJ4:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
</div>Federal Contracts: Big Wins for May 17, 2012
<img src='http://assets.bizjournals.com/washington/blog/fedbiz_daily/051812-fedbizchart*100.gif?v=1'>The Bureau of Customers and Border Protection Service divvied out the most dollars to a D.C. area company Thursday, reporting a $9.34 million contract award to QinetiQ North America in McLean for computer programming services.
QinetQ has long supported CBP with services to support a technology solution for collecting, sharing, safeguarding and using immigration law enforcement information.
Source: Fedmine.us<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=ZiCGPCLY7tQ:V_TtNSB4SYA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=ZiCGPCLY7tQ:V_TtNSB4SYA:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=ZiCGPCLY7tQ:V_TtNSB4SYA:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=ZiCGPCLY7tQ:V_TtNSB4SYA:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=ZiCGPCLY7tQ:V_TtNSB4SYA:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=ZiCGPCLY7tQ:V_TtNSB4SYA:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
</div>SBA proposes rules to include small-business contractors in multiple-award contracts
The Small Business Administration has set out three new rules specifying three areas where small-business contractors can be included in multiple-award contracts, according to Federal News Radio.
The proposed regulations seek to set aside parts of a multiple-award schedule for small-business contractors, reserve awards for small businesses under MACs, and set aside certain orders for small businesses. The rules state that agencies must "give meaningful consideration" to the options, and contracting...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=5C3UhOjB_i4:dlwOR4gZmOU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=5C3UhOjB_i4:dlwOR4gZmOU:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=5C3UhOjB_i4:dlwOR4gZmOU:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=5C3UhOjB_i4:dlwOR4gZmOU:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=5C3UhOjB_i4:dlwOR4gZmOU:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=5C3UhOjB_i4:dlwOR4gZmOU:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
</div>'Shared first' approach provides tools, excludes mandates
The shared information technology services approach released by the federal chief information officer draws on the Office of Management and Budget's 25-point plan to reform federal IT by providing policy guidelines, Federal Computer Week reports.
Known as the 'shared first' approach, shared services are not expected to be mandated, though agencies that don?t use that delivery model will have to justify why. The shared services plan is more about providing agencies the right tool to manage their...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=1qHjvkn88mY:i3I0BjuEkiE:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=1qHjvkn88mY:i3I0BjuEkiE:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=1qHjvkn88mY:i3I0BjuEkiE:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=1qHjvkn88mY:i3I0BjuEkiE:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_washington?i=1qHjvkn88mY:i3I0BjuEkiE:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_washington?a=1qHjvkn88mY:i3I0BjuEkiE:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_washington?d=qj6IDK7rITs" border="0"></img></a>
</div>
|
setting the level and drawing appropriate means of financing a real estate development project or acquisition.
|
|
