Here is How Not to Retire Rich

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Brokerage Fee
You want to open a brokerage account but you can not seem to have a good conviction about the brokerage fee and account minimums. Yet you are certain that you want to start with a brokerage-trade. So what should you do?

First of all account minimums are (ought to be) only small ones - as low as $500 for example. However, account minimums differ with the type of brokerage account. So m... Read personal finance article



How to Stick To A Budget
Budgeting your money can be difficult. With so many expenses and random, unexpected purchases, trying to accurately track your finances can make your head spin. In this article, we'll give you a basic format for tracking your budget so that you can save money.

The first step to creating a budget is to determine a baseline for your income and your expenses. Document everything that you k... Read personal finance article



Here is How Not to Retire Rich
"But my investment guy said I would make a killing on this." Sterile voice responds, "Well he quit last week sir and there is nothing we can do, did you not read your contract?"

Who in the (*&^) can read that stuff? If you cannot understand the contract you are supposed to sign don't sign it, no matter how much money they tell you, you are going to make. There is an investment that is in 70% of homes in North America. It is guaranteed to earn no more than 3% and more than likely a lot less. But it earns an investment industry billions of dollars. It is perfectly legal, certainly not moral but when you have a lobby group with this much money; changing the laws is difficult.

It is much easier to teach you what to look out for and here it is. First lets prepare you; in a few more words I am going to tell you what this investment is and most of you will stop reading. Why? Do you what to retire broke? No, it is just this industry has done such a good job of convincing us of two things. One; we need this investment. Two; this investment is so complicated you are lucky they are there to explain it to you.

When I tell you what it is, fight back the temptation to stop reading and stay focused on the goal of your financial freedom and not making a big companies a lot more money. Okay here it is, life insurance. Yep, it is one of the biggest tools people use for investing. You get these really cool "projection sheets" that have huge numbers on them of "cash value". As you are unlikely to die by 65 you will need money and these "projection sheets" tell you by 65 you will have a million or more. Wow, what a good investment.

The only problem is at the bottom of these sheets is a little line that says something like. "These are only projections and do not represent a future value. The future value is dependent on market conditions." What does that mean? It means you have nothing, absolutely nothing. Those sheets are fantasy, they will never come true and they never have.

The regular insurance industry has always wondered how the life insurance people get us to invest in an insurance policy. Can you imagine having an investment component in your house insurance, or car insurance? Most (over 70%) of life insurance has two parts: a life insurance part and a cash savings part. The second you put them into one contract you are going to lose so much money it should be criminal.

I was sold one by a good family friend at age 18. I actually read the contract and did not understand it but hey, she was a friend of my moms for years. Five years later I was at an investment seminar and was shown how these "cash value" and "universal life" policies really work. They work great for the insurance company. Just look at who owns most of the big downtown buildings, and think where do they get all that money.

It is true that if you have dependants, debts and people that would suffer financially if you died, you then need some life insurance. Just never buy it with an investment component and you will avoid one of the biggest traps to keeping you poor.

Not everyone is poor because of overspending some got poor by bad investing. Avoid this number one bad investment. Keep your life insurance in a "term" only policy and take your investments somewhere else. Be smart, be wealthy.

Larry, Alan & Ward are the Three Amigos who developed simple strategies for debt management. Learn their strategies at http://www.winthedebtgame.com.

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Identity Theft and Your Credit Card

Sometimes you get a shock when you open your credit card statement, and it's not just because of the phenomenal amount you spent on clothes last month. Occasionally there may be transactions on your credit card statement that don't look familiar. Sometimes this is a simple banking error, but it's worth paying attention, because you may be a victim of identity theft.

What Is Identity Theft?

Identity theft is the theft of personal information that can be used to identify individuals. It is closely related to identity fraud, which is the use of that information to obtain goods and services by deception. Identity fraud may also mean using that information to create a false identity.

Signs Of Identity Theft

Aside from the appearance of unrecognized transactions on your credit card or bank statements, other signs of identity theft are:

- Getting bills, invoices or receipts for goods or services you haven't ordered

- Getting turned down for a credit card or loan in spite of having a good credit rating

- Finding that a mobile phone contract has been set up in your name without your knowledge

- Receiving letters from solicitors or debt collectors for debts that you know nothing about

- Your post goes missing

- Someone seems to be messing with your rubbish bags

How Does Identity Theft Happen?

There are many ways in which identity fraudsters can get hold of your personal information. In some cases, this may be through theft of your wallet or purse, burglary of your home, or pilfering from your letterbox. Identity fraudsters look for personal information such as your name, address, date of birth and so on. These can help them to set up new identities and even fraudulent businesses.

Other ways of stealing your identity include:

- Diverting your post through a change of address form

- Hacking into your computer to get hold of private information

- Monitoring ATM transactions or using special machines to get your PIN number

Fraudsters who get hold of your personal information will find it easy to open bank accounts, get credit card, loans, passports, driving licences and benefits in your name. They are unlikely to be strict about making payments on time, so it is your credit rating that will be affected.

How To Protect Against Identity Theft

There are many ways to make it more difficult for identity fraudsters to get hold of your personal information. First of all, get a copy of your personal credit file from time to time. This is inexpensive and you will be able to see if anyone has applied for credit in your name.

Let banks and credit card companies know when you move house and get your mail redirected. This will make it more difficult for someone to steal your letters and identity. At the same time, it's worth checking that no-one is redirecting your mail without your consent.

Keep personal documents in a locked filing cabinet, safe or drawer or in a bank safety deposit box. Receipts should be shredded immediately if you don't want them. Throwing them away makes it easy for fraudsters to get credit card numbers. If personal documents (passports, driving licences, credit cards, debit cards and so on) are lost or stolen report the loss immediately.

Finally, keep your PIN and your passwords secure. The fewer people who know about them, the less likely they are to get into the wrong hands.

Joe Kenny writes for the Card Guide, a UK credit card site, apply for a 0% balance transfer credit cards to clear your credit card debt today. Visit today: http://www.cardguide.co.uk/




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Here is How Not to Retire Rich
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