Compound Interest - The Not-So Secret Power Did you ever sit there and just wonder how did the richest people in the world get so rich? We have Bill Gates (Microsoft) with $50 billion, Warren Buffett (Berkshire Hathaway) with $40 billion, Lawrence Ellison (Oracle) with $27 billion, the Walton family with $21.5 billion and not to mention the mighty Mr. Moneybags (that would be me) whose net worth is so large that any calculator in the world would simply explode just by trying to fit all … [Read more...]
The Best Idea for your small or home business
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For nearly 20 years Boris worked as a fast food manager. There were days when he would go to work at 8 a.m. and not leave until midnight. He hated it. “The long hours, the demands – it was all so overwhelming,” he said. Eventually, he quit and started a consulting business. He still worked 60-80 hour weeks, coming home so exhausted some nights that he goes to sleep fully clothed. But not once did he complain about how much he hated his work. Sure the long hours and overwhelming … [Read more...]
Marketing Your Website for Increased Traffic
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You have spent months preparing your website. You’ve got the text, the wording, the images just right. Finally your small business has an online presence. Now all you have to do is sit back and wait for the visitors to come in. This seems to be the common belief people have about a website. They think once they build it; the traffic, and the money will automatically follow. Not true. To really be successful on the web, a small business owner is going to have to go out there and promote … [Read more...]
Self-Employed Taxes
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Some general guidelines on reporting your income on a Schedule C Tax Form. When you own a small business or operate as an independent contractor, the government wants your money to pay Social Security and Medicare tax through their self-employment tax. Specifically, they want to tax the profit that you have seen from your business. But don’t worry yet. The full amount of taxable income is determined by more than just the total profit made. A self-employed designation is determined by … [Read more...]
What to do with a Problem Loan
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The reports paint a dark picture. According to the Mortgage Bankers Association more than 2.1 million Americans missed at least one payment on their home loan at the end of last year, taking the rate of new foreclosures to a record high. It’s even worse for borrowers with scuffed credit and adjustable-rate mortgages. More than 14 percent of them were behind on their payments. But the worst is yet to come according to the MBA. The association predicts that least $300 billion in subprime … [Read more...]
Refinancing Your House in Today’s Market
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The days of 100 percent financing with no down payment are gone thanks to a record number of foreclosures and collapse of the sub-prime mortgage industry. Now if you are looking to refinance your house you will find the standards a lot tougher unless you have a FICO score roughly above 620 and a stable income. Most experts say that with a strong record of paying bills on time, a documented, steady income, you should be able to borrow easily and at a low rate. However if you find that you … [Read more...]