Your need for life insurance changes with the seasons of life, starting with no need when you’re young, progressing to greater need as you take on greater responsibility. Finally, for most people, life insurance needs begin to diminish as you grow older. (more…)
Archive for September, 2009
Life Insurance Part 2 – When Should You Buy
Wednesday, September 30th, 2009
Easy Guide to Life Insurance – Part 1
Tuesday, September 29th, 2009Buying life insurance is a very important financial decision and can be one of the most confusing. How you choose which policy, how much should you buy, how you understand the more complex forms of insurance are all questions that need answers. Comparison shopping between all the different types of insurance seems impossible. (more…)
Is Your Home Business At Risk?
Tuesday, September 29th, 2009There are approximately 18 million home-based businesses in this country, and well over half of them are risking the future of their businesses but have no idea they are at risk. Many home based business owners simply do not have enough business insurance coverage.
You may be among the many entrepreneurs that mistakenly believe they’re covered by their homeowners insurance, but most homeowner’s policies limit loss of business property to $2,500, don’t cover losses away from the home, and exclude liability coverage for business-related activity.
Insurance policies do vary so you will want to find yours and read the fine print.
Even though your business is in your home, you still have the same risks as some of the bigger traditional businesses. Many work-from-home enterprises have lots of computer equipment, software, printers, office furniture, telephone equipment, products and irreplaceable files, paperwork and the list goes on. If you travel away from home on business you could be caught on the road with business checks you’ve collected, your expensive laptop, cell phone, products and other business supplies. If your rental car was broken into and you lost everything, would you be covered?
There are also the issues of liability. If you see clients in your home and they slip and fall on your icy sidewalk are you covered? Or what if something you produce and sell from home injures someone? All business owners should be asking these questions and getting answers. You could easily lose everything in one fell swoop if you find yourself without the proper business insurance.
Here are a few actions you should take to avoid unnecessary risk and loss:
1. Take an inventory of all your business equipment. Include photos of everything you have and a written statement of value. Include receipts of actual purchase with this file whenever possible.
2. Evaluate how often you see clients in your home? Are there any possible hazards?
3. Where would your business be run from in the event you lose your home to fire or other natural disaster? Develop a disaster recovery plan to minimize the interruption of business should disaster strike.
What Is Stock?
Monday, September 28th, 2009It’s more than just a piece of paper (or in some cases not even that). When you buy a stock, you’re taking an ownership stake in a company. At some point, just about every company needs to raise money, whether to open up a West Coast sales office, build a factory or hire a crop of engineers. (more…)
Stocks: Dollar Cost Averaging Evens the Score
Monday, September 28th, 2009Are you interested in a strategy that may help take out some of the timing guesswork? Much to do about when to buy a particular stock can confuse the beginning investor and can be avoided when you use Dollar Cost Averaging. This strategy allows you to ignore all the noise about market conditions while concentrating on long-term growth. (more…)
Compounding Interest: For You or Against You?
Saturday, September 26th, 2009Compound Interest is simply earning interest today on the interest you earned yesterday. It is important to note that interest can be compounded annually, monthly or daily, which means you earn interest on whatever amount you have at the end of that time period. (more…)
Organizing Your Household – Part 2
Saturday, September 26th, 2009Let’s continue our series on organizing your household and financial records. Yesterday, we examined the benefits you’ll receive from adding a little organization to your paperwork life. Motivating yourself to get started is the most important step. Set aside an uninterrupted block of time and pull out all the records and papers you have stored all over the house, car and office. You will probably discover that many of the papers you have been keeping are unnecessary. Be careful to shred or tear up any unneeded papers such as outdated credit cards statements, paperwork from former health insurance or other benefit providers, vehicle records from automobiles that you have not had in several years, etc. (more…)
Organizing Your Household – Part 1
Friday, September 25th, 2009This week’s e-Strategies begins a series on organizing and maintaining your household and financial records. Today’s complicated lifestyle creates quite a challenge in keeping up with family records, the purchases and investments you make, and the services for which you pay. However, knowing where important papers are located and being able to put your hands on them easily, can be the difference between money lost or gained. (more…)
Good Help is Hard to Find
Friday, September 25th, 2009They say good help is hard to find, but it may be sitting right at your kitchen table. Hiring your kids to work in your business can be a great opportunity to build your child’s confidence and self-esteem while giving them valuable on-the-job training. We are not talking about a small allowance for minor tasks, but instead a real job with real responsibilities. Children are capable of so much more than we give them credit for. With the right encouragement, they can do amazing things. (more…)
Estate Planning – You Can’t Take It With You!
Thursday, September 24th, 2009If you think Estate Planning doesn’t apply to you because you don’t have a huge estate, perhaps you’re not aware that owning any assets at all qualifies as an estate. Estate Planning is not just for the wealthy of the world, it’s for anyone who wants to make sure their wishes are carried out if they are unable to speak for themselves. (more…)
