Archive for January, 2010

Cautious Plans to Expand After a Grueling Year


05 Jan 2010

Chris Wrightsman and his business partner, John LaRocca, wondered if they’d have to strap on their tool belts and go back into the field after 15 years in management. Bruce Rigney worried about losing his family-owned company. Sean O’Neill questioned his decision to start a home-based consulting firm in 2008.

As it was for so many, 2009 was a rough year for these three entrepreneurs. But with the dawn of 2010, all are optimistic that they have survived the worst. They are ready to begin growing again.

Several surveys of entrepreneurs show that confidence about 2010 appears to be growing, albeit cautiously. The Discover (DFS) Small Business Watch, a monthly index of companies with less than five employees, showed that fewer micropreneurs surveyed in December felt that the economy was getting worse, compared to November’s numbers. And 22%—an increase from 19% in November—said they expect business to pick up in the next six months. The monthly Small Business Scorecard survey done by SurePayroll, an online payroll services provider, last month showed an even bigger improvement: Two-thirds of small business owners surveyed reported that they expect their revenues to increase in 2010. The

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Savings – what does 2010 have in store?


03 Jan 2010

Experts predict little reprieve for savers in 2010. The past 12 months have been a bleak time for savers, with the Bank of England’s base rate dropping from 2% at the start of 2009 to 0.5% in March. This rate marks an all-time low since the formation of the Bank in 1694 and is still in effect at the present time.

Low savings rates

Rates on savings accounts have been squeezed to reflect the low Bank rate, leaving even the most careful savers with a poorer return than they might have hoped for. Just 12 months ago, savings accounts offering 5.6% or higher were not unheard of. Now, research suggests that the average rate for instant-access savings accounts is just 0.78%, meaning that even a large investment will earn a barely noticeable sum.

Savers setting less aside

Meanwhile, the amount set aside by consumers has also fallen. A recent report by unbiased.co.uk revealed that a total of £13bn was saved during the third quarter of 2009, which is significantly lower than the £19bn set aside in the previous three months. S Full Article…

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Tags: 2010 2010 Store

Turn your nest egg into a Roth?


03 Jan 2010

It’s the question du jour in financial planning: Should you take advantage of some special perks in 2010 and convert your traditional Individual Retirement Account to a Roth IRA?

The answer, as with nearly anything in personal finance: It depends.

Yes, it’s an idea to consider. Moving money from a traditional IRA to a Roth opens up a lot of possibilities, not the least of which is tax-free growth and withdrawals in retirement. SEP-IRAs, SAR-SEP IRAs and SIMPLE IRAs can be converted as well, as can 401(k) balances from past employers. There are good estate-planning opportunities, too.

How to defer taxes Traditional IRA
A way to defer taxes on retirement savings

Pluses

  • Individuals can deduct contributions from their taxable earned income, up to $5,000 a year ($6,000 if over 50).
  • Some also qualify for a tax credit for contributions.
  • Can count contribution as late as April 15 toward the previous year’s tax return.

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How To Prepare Young Children for Mexican Cuisine


02 Jan 2010

Different from a local taco restaurant, authentic Mexican cuisine may be unfamiliar to many adults, and may seem intimidating to children. For parents interested in sampling some of this authentic cuisine as a family, foods will be cooked in a traditional Mexican fashion using produce including peppers, onions and tomatoes. In addition, bean products will most likely be in the form of a paste, like refried beans, and may taste different due to the lard-inclusive cooking process.

Before your kid-friendly, food journey begins, experts urge drivers to buyMexican insurance online. Online Mexican auto insurance means you get the best policy at the best price, and you can print yourMexico insurancepolicy immediately, so there’s no question as to whether or not you’re covered.

While a resort-based, children’s menu may have items like chicken nuggets and macaroni and cheese, authentic Mexican restaurants; especially the less touristy areas, may not even have a kids’ menu. Before heading on a vacation, parents should introduce the various types of produce found in these foods to gage their children’s likes and dislikes. In ad

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Bad Credit? Your Credit Cards May Go Away


01 Jan 2010

The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 doesn’t even go into effect until February 2010–but it’s already having some unintended consequences. Credit card companies scrambled to hike interest rates before restrictions on rate increases kicks in. Consumers screamed.

The lenders’ immediate increases and the cacophony of consumer complaints caused legislators to consider a 16% maximum rate for credit card interest as well as a $15 cap on late payment fees. But look out! Credit card companies will likely find another strategy to respond to these new reforms and protect their profits.

Credit Card Companies: Either Way, They Make Us Pay

While a credit card rate cap looks good to consumers at  first, the backlash by banks and lenders may be more painful that people expect.

Since credit card companies prefer to extend the best credit terms and rates to people with good credit, you can expect fewer loans to be available to consumers with poor or even average credit. Because

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