Cyber banks

Give me the choice between a smiling face and half a percent interest or no smiling face and 5 percent interest and I will select the 5 percent. A cyberbank can operate anywhere in the world, moving digital. Currency or “e-money” from electronic home to electronic home.
The Best Cyberbanks
These online banks are tops for their savings and checking accounts, ease of use and access to funds. From Kiplinger's Personal Finance magazine, February 2007
BEST OVERALL ONLINE SAVINGS ACCOUNT
HSBC Direct http://www.hsbcdirect.com/
Annual percentage yield: 5.05%
Why it's the best: Quick customer service, an ATM card, a $1 minimum balance and typically one of the highest yields make this online savings account the one to keep.
SIMPLEST TO USE ING
Direct http://www.ingdirect.com/Annual percentage yield: 4.50%
Why it's simplest: ING Direct's streamlined Web site and four-step application are painless for even a Luddite. With no minimums and no monthly fees, ING Direct set the standard that other online banks follow (or should).
BEST FOR ACCESS TO FUNDS
E*Trade Financial http://www.etrade.com/
Annual percentage yield: 5.05%
Why it's the best: The most inconvenient aspect of online savings is the lag when you deposit money. It can average up to five days to clear a transaction after the initial deposit. But E*Trade users can access deposits on the same day.
BEST ONLINE CHECKING ACCOUNT
EverBank http://www.everbank.com/
Annual percentage yield: Ranges from 3.25% for balances of less than $10,000 to 4.41% for $100,000 or more.
Why it's the best: EverBank treats checking almost like savings. You need a minimum of $1,500 to open an account and enjoy an introductory rate of 6.01% for the first three months before it goes down to the market rate.
BEST PLACE TO VET ONLINE BANKS
Bankrate.com http://www.bankrate.com/
Why it's the best: Interest rates and features change daily. This is a fast way to compare the full range of standard bank offerings as well.

Financial Privacy

In the USA, identity theft is one of the fastest growing financial crimes. Nearly 10 million Americans fall victim each year. The Identity Theft Resource Center reported in 2005, on average, an ID theft victim of new account and other fraud spent 60 hours resolving problems brought on by ID theft, those victims of existing accounts spent an average of 15 hours resolving problems. A 2003 Federal Trade Commission study found that identity theft also costs U.S. businesses nearly $48 billion annually, and consumers an additional $5 billion per year. A security freeze lets consumers stop thieves from getting credit in their names.
A security freeze locks, or freezes, access to the consumer credit report and credit score. Without this information, a business will not issue new credit to a thief. When the consumer wants to get new credit, he or she uses a PIN to unlock access to the credit file. These states give consumers this important weapon to prevent identity theft:
• For more information on credit freezes by state visit:consumersunion.org

A time to plan

The Caribbean region has been slow to develop its occupational and private pension structures and this is certainly true in many of the smaller islands where little or no pension legislation currently exists.
Barbados is ahead of many of its neighbors in the progress being made on pension reform. The Cayman Islands has indicated its intention to reform its pension laws, which were only introduced some six years ago. Similarly, a Pensions Act is anticipated for Jamaica. Trinidad and Tobago anticipate pension reforms over coming months. There is even talk of pension regulations in the Bahamas, where no current pension scheme laws exist.
The United Nations estimates that the number of people over 60 will rise to two billion in 2050, from 600 million, with the ''oldest old,'' those 80 or older, increasing to 350 million from 70 million. They also projected that by mid-century; one third of China's population will be retirees.
It's never too late to get a jump on retirement savings, even if your job doesn't provide a plan. Save, save, save. Disciplined saving can be tough when money isn't automatically going into your retirement account before you can get your hands on it.
In the USA people who participate in 401(k) s typically get matching contributions from their employer. The most prevalent arrangement is a match of 50 cents for each dollar the worker contributes of the first 6 percent of salary.
So how do you jump start your retirement-savings effort? I signed up for such an arrangement a little over 10 years ago, and I can tell you that it's nothing short of amazing (the rule of 72) how within a few years even relatively small contributions turn into "real" money, not to mention money I'd probably had spent on meaningless little things if it had been sitting in my checking account.
One final thing you can do to improve your retirement prospects is to keep an eye out for jobs that offers comparable or better pay and benefits plus a 401(k) or pension (or both for that matter). If you can land such a job and keep up as much as possible with the saving program you will really be on the express route to a secure retirement.
Were you born before 1964? What's the one thing you really want to make sure you do in your lifetime? Is your Must-Do Goal to open a restaurant? Pastor a church? Get in touch with a financial expert who can help you make your dream a reality.

What banks won't tell you 3 x 3

The Rule of 72, which tells you how long it takes to double your money. 72/[return rate you’re getting] = # of years to double your money. For example, if you’re getting a 10% interest rate from an index fund, it would take you approximately 7 years (72/10) to double your money. In other words, if you invested $5,000 today, let it sit there, and earned a 10% return, you’d have $10,000 in about 7 years. And it doubles from there, too. Of course, you could have even more by adding a small amount every month using the power of compounding.
To give you an example of how much money that would be, for example, one of my kids will probably have a baby in the next couple of years. I was thinking I might put away $1,000 as a gift in an index fund. Let’s just assume it earns 10% annualized during the grandchild’s life. Guess how much it would be worth at age 63?
Age 1: $1,000
Age 7: $2,000
Age 14: $4,000
Age 21: $8,000
Age 28: $16,000
Age 35: $32,000
Age 42: $64,000
Age 49: $128,000
Age 56: $256,000
Age 63: $512,000
Basically you can see that my grandchild would be rolling hard thanks to Grandfather Rev.’s $1,000 gift 63 years prior.
And it grows from there–note how fast the money grows towards the end. Yes, this is a simplistic model that assumes a 10% return rate and yes, it leaves out inflation/taxes. But it shows you how much a $1,000 investment can grow with time–even though you didn’t add an extra dollar to it. The critical factors are time, minimizing fees/taxes, and picking sensible, long-term investments. What are you going to do today?

What banks won't tell you 2 x 3

The compound interest and financial success Rule Of 72 is the most important and simple rule of financial success. It takes two minutes and costs nothing to learn the Rule Of 72. Gain financial success faster when you command the power of compound interest, instead of allowing compound interest to enslave you.
Compound interest is powerful. Compound interest should be one of your financial success tools. Don't let compound interest work against you. Financial experts use the Rule Of 72 to command compound interest and gain financial success. Some financial service providers want you to know the Rule Of 72 so you can make wise decisions to command compound interest and compound your financial success. Other financial service providers use compound interest to enslave you and compound their own financial success. They don't want you to know the compound interest and financial success Rule Of 72.
The Rule Of 72 should be taught in every school. Every young person should understand compound interest and the simple secret to financial success, before they begin earning, investing and spending.

What banks won't tell you 1 x 3

The banks won't tell you about the Rule Of 72Compound InterestFinancial Success.
Albert Einstein is credited with discovering the compound interest rule of 72. Referring to compound interest, Albert Einstein is quoted as saying:"It is the greatest mathematical discovery of all time."

Retirement Software

The small amount of time you spend learning about investments and managing your own portfolio could be your most highly compensated hours of the year.
Download Free Software.
These Excel spreadsheets investigate the effect of annuitizing your retirement portfolio before or after you leave the workforce.

• Download Retire Early's Annuity Shaft Detector(11k zip file (annusft.zip), expands to Microsoft Excel Workbook file (annusft.xls), 33k)
  
  The Retirement Calculator can be downloaded directly in Excel format. This eliminates some of the problems users have had in the past with "zipped" files. You need Excel 95 or a later version of the program to use the spreadsheet.


• Download Retirement Calculator(recalc_2006.xls size = 318,976 bytes)
  
• Retire Early Diversification Worksheet
  Find out how much your "safe" withdrawal rate in retirement declines if you don't diversify. If you hold less than 10 stocks in your portfolio, these results may give you pause.(Filename: rediver.zip (21kb) expands to rediver.xls (56kb)
  
• Retire Early Annuity Factor Calculator(annu98.zip (12kb) expands to annu98.xls (35kb))
  This Excel spreadsheet calculates a penalty-free pre age 59-1/2 IRA withdrawal using the annuity method. Based on the UP-1984 Mortality Table as described in IRS Cumulative Bulletin 89-25, Page 666. (Filename: annu98.zip (12kb) expands to annu98.xls


• The IRA CALCULATOR spreadsheet offers a quick and easy way to calculate how much money you'll pay in income and estate taxes on your IRA. Download Microsoft Excel Version, (63k zip file)Release Date: 03/28/97

Ideas for Retiring

America is on the verge of a retirement revolution. The oldest of the baby-boomers -- the 76 million Americans born between 1946 and 1964 -- are turning 59½, the magic milestone when they can start tapping their retirement accounts penalty-free. In just three more years, the same advance team will be eligible to take early benefits from social security.But just because they can pack it in doesn't mean that they should. In case you've missed the great national debate, social security alone can't guarantee you a smooth transition to living without a salary.The stark reality is that to live comfortably in retirement -- whatever that means to you -- you must have your own resources. And given longer life expectancies, your savings may have to last 20 years or more. Don't just sit around and wait for benefits. Let us discuss the steps we can take to ensure a comfortable retirement.

Money Matters

Creating Abundance

Are you experiencing one or more of the following:

• Unclear goals or trouble getting in touch with what you want in your life?
• Difficulties earning and/or maintaining a good and consistent income?
• Money owing on credit cards, mobile phones or to retail stores?
• Problems paying your bills and/or outstanding debt?
• No earning, spending or savings plan in place?

Working as a group will help us focus on the following:

• Establish realistic and motivating financial and life goals.
• Ascertain a supportive level of income.
• Preparing a cash flow statement.
• Identifying how to reduce and control spending, consumer debt & those "must haves."
• Put in place a consistent savings plan.
• Understand your money habits.

Our supportive environment can initiate and facilitate great changes as we share our ideas and experiences in this community.

Rev. Money Talk

Money Talk is a forum for people who want to make money online and offline. We discuss money, banking, personal finance, investment products, alternative earning methods, business opportunities.

• News on scams and ponzi schemes.

Phillipine SEC Warning – FrancSwiss, SwissCash, Universal Forex System, Global America and Private Forex Trade, Inc.

Thanks to the administrator at Sulit Forum for this information. Posted on Tuesday, July 03, 2007 10:58 pm

• SEC Charges Operators of Phoenixsurf.com Web Site With Conducting a Massive Internet Ponzi Scheme
  Washington, D.C., July 24, 2007 - The Securities and Exchange Commission today filed securities fraud charges against the operators of an Internet-based Ponzi scheme that raised $41.9 million in just four months from more than 20,000 investors worldwide.
  The Commission's action, filed in U.S. District Court in Los Angeles, alleges that from Feb. 22, 2006, through May 21, 2006, four defendants operated a Web site — Phoenixsurf.com — that offered investors a 120% return in just eight days on investments ranging from $8 to $6,000 in a purported "traffic exchange program." Full story at: http://www.sec.gov/news/press/2007/2007-141.htm

• 66 Ways To Save Money: For an online version of this brochure, go to http://www.pueblo.gsa.gov/cic_text/money/66ways/index.html.

• Free Retirement Plan Management for Small Business: For a printable version of this guide, click the link below...
  Retirement Plan Management for Small Business